jseymour84

jseymour84

I have been experimenting with harmonic pattern analysis for my last few ideas, but this sort of analysis just feels more natural for me. However, it's harder for me to write down a set of rules for these trades so that I can make these plays consistently. In this idea, we are looking at a potential short trade depending on how price behaves in the decision...

jseymour84

Potential bat forming on the EUR/USD 15-minute chart if I read it correctly (which may not be true). D completion projected at 1.1741. Alert set and waiting to see if price comes into that level.

jseymour84 Updated 

The current price action is looking like it is setting up for a C leg completion of a butterfly pattern. If this pattern completes it would be against the underlying trend. Price has a bit of distance to cover before hitting that C leg completion but if it does complete I would look for a limit order at D. My confidence in this actually completing is a bit low...

jseymour84 Updated 

News is pushing USD/CAD up. So far retraced 50% of the bearish move down last week. My prediction is that price is going to reverse between the 0.5 and 0.618 Fib levels and retest the low the of range on the 4 hour chart. However as there is active news, technical analysis may be irrelevant. If you enter at 0.5 retracement level and set stop at 0.618 you have...

jseymour84 Updated 

This pair has just tested resistance at around 1.2900 and it appears to be holding. I got short 1,000 units here to play this as a range trade as we are at the top of the range. My hope is to hit the bottom of the range but it looks like there are two structure levels there. The plan is to close the position if price bounces on either of those levels. Stop...

jseymour84 Updated 

The CADUSD appears to be retesting resistance with an overbought RSI. If the market closes at or below 0.7832, we could be looking to get short with targets at 0.7678 or 0.7498. 0.7678 is a minor support level, and the 0.7498 is a .618 Fibonacci level that corresponds with previous structure support. Stops need to go at 0.7948 (above highest high), giving us a...

jseymour84 Updated 

We have had a double top with a deep retracement approaching the .764 fibonacci level. For me, this signals a buying opportunity as the market might be ramping up to put in new structure highs. Buy at market and set stops to 107.941 and target at 114.277. This idea is based on 2618 trade strategy from www.tradeempowered.com so head over there if you want more...

jseymour84

There is a potential cypher pattern forming on the EURUSD 60 minute chart. Market has put in an XA move with the AB retracement completing in the zone. This is one to watch on the radar, but it is still a long way away from completing. We still need to see the C leg extension followed by the D leg retracement. I am projecting the pattern to complete around...

jseymour84 Updated 

There is potential for a double top on the hourly chart on EURUSD. Price needs to spike above 1.17889 and then close below that level for it to meet my rules. Once this happens, I would look to get short at the next bar market with first target at 1.17477 and next target at 1.17225. First target reward is 41 pips and target 2 reward is 66 pips for a total...

jseymour84 Updated 

We just had a .618 retracement on the EURUSD 30 minute chart. I believe at this point that the market will continue down to retest prior lows if not break below those lows and find a new support level. A sell here would have a decent risk reward profile.

jseymour84 Updated 

There is potential for a counter trend trade of USDCAD at the daily level. We just had a large move down, and now the RSI is under 30. Price action is currently at historical support levels around 1.2713. I would enter long at 1.2713 and look to take targets at the .382 retracement around 1.3111 with stops 1.2427. This trade setup presents a 1.39 risk reward...

jseymour84 Updated 

Market tested previous resistance and could not break through. Look for the market to pull back to around 1.1320 before retracing back up near resistance. Short entry is at around 1.1620 with stops going at around 1.1720 and target around previous lows at 1.1320. If the market enters a down trend then this trade should be fairly pain-free. Set limit orders to...

jseymour84 Updated 

There is a long opportunity at market on the USD/CAD daily chart. Price is currently at previous support and RSI is oversold. I am expecting either a full uptrend or a significant retracement as bulls come into the market. Buy at around 1.2520 with stops at around 1.2450 and targets at 1.2990 and 1.3705. When the first target is hit, roll your stops to 10 pips...

jseymour84 Updated 

So I am fairly new to forex trading, and technicial analysis in general. Here I spot what I call a sloppy AB:CD pattern forming. I call it sloppy because the BC move is not exactly a .618 retracement of the AB move. If I were actively trading, I'd go long to ride the CD leg up to pattern completion then turn around and short the pair. From what I see, we found...

jseymour84 Updated 

I spotted what I believe to be the XA move of a bullish Gartley pattern with the AB move just starting on the EURUSD daily chart. If I am correct on my XA identification, then we are about 25% into the AB move, which means this is a long shot at a pattern completion. With this setup, I would get long at 1.0760, with stops at 1.0540, and profit target at 1.1438. ...