iorek65

iorek65

Fresh Demand levels in a range bound setup. Potential Retracement Zones. -Always use a stop -Trade only with money you can afford to lose -Be open to multiple scenarios -It's okay to be wrong about anything

iorek65 Updated 

Check the chart for details. Got an hourly close on low with retracement in the entry zone. Potential retracement -- potential downside beyond that. Pattern at daily resistance. -Wait for confirmation -Use a stop loss -Trade with money you can afford to lose -Be willing to be open to multiple scenarios

iorek65

Price approaching a demand zone. Be particularly mindful of candle formations into "E2" (Entry 2) which is also just near the 50% retracement of total impulse higher. -Always use a stop -It's okay to be wrong about anything -Trade only with money you can afford to lose

iorek65

Check the chart for notes. Put your stop slightly below the previous swing low (2). Target 80-90% of the Median Line (between 85 and 85.5; could go higher, but Median line is the first potential "exhaustion point" for a retracement or reversal if it doesn't accelerate through or consolidate above it). Note: Lower risk reward is some times the trade off for...

iorek65

AUD/CAD has a potential reversal/retracement if price reaches the upper resistance box and completes a 135 pattern (I remember learning about this one from Larry Pesavento). It is showing good symmetry for a 135 pattern. Look for climactic price action near the blue entry zone box to consider a short position. Look for candle reversal signals in that zone as...

iorek65

Important principle: Patterns fail and break into other ones that succeed. Channel support broke on AUD/NZD for my initial buy -- price has now fallen into a criteria zone of secondary entry. Some times the secondary pattern has higher accuracy than the first, and you can risk 25% more than your original position that got stopped out (for example 2% becomes...

iorek65 Updated 

The NZD/CAD has been in uptrend on the weekly and monthly charts for quite some time. What we see now is a head and shoulders pattern followed by a morph into a descending triangle (additionally, on the daily chart the head and shoulders pattern that is formed there as a "subpattern within the larger pattern" has a lower right shoulder than its left shoulder...

iorek65

AUD/SGD tested into a key Fib level as well as morphed Inv HS and Cypher combo pattern I'm observed before (not all those details are marked up here). Potential upside move.

iorek65 Updated 

We have a nice smooth sloping (not too steep) channel and pitchfork that is trending up. My analysis of the large weekly/monthly pattern of this pair suggests pros aren't interested in driving this to new lows (i.e. below parity etc.). Price is live at that line at time of this posting. Follow your plan -- if you mirror other traders' trades as part of your...

iorek65

Nice Tim Morge test and retest of Lower Parallel Line of Pitchfork Setup (I see the conditions of price respecting the lower parallel with candle closes happening above on the "123" test levels). Those closes add conviction for me to post this. Always trade with a stop Trade only money you can afford to lose Open your mind to multiple scenarios and don't get...

iorek65

If you run your chart history, the nuance of this large scale butterfly is one that has shown up before. Not only that, the conditions it has shown up under are a pretty significant strong reversal. Strong leading pairs against the dollar forecast over the ensuing weeks include the Euro and Canadian Dollar. We are likely to see a move to the opposite end of the...