lyl89

lyl89 Updated 

What will the Fed do? We have a couple of major US announcements this week, mainly interest rate decision, NFP and unemployment rate It seems like the Federal Reserve will signal no change in its plans to gradually raise interest rates despite recent weakness in the economy, Trump's tax plans won’t factor much in central bank decision-making Fed officials...

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Bat pattern has completed RSI at oversold level R:R at 1 (TP1) and 1.7 (TP2) Keep a lookout for RSI divergence. Previous idea on USDCAD completed bat pattern showed RSI failure to show any sign of retracement below 70.

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Here we have a completed crab pattern with price closing slightly above PRZ. Price hit the top of the ED channel but did not close above it. Overall trend is still bullish, but we might be able to trade within the channel. RSI is currently overbought, will wait to see bearish divergence Daily candle looks like a shooting star/inverted hammer, good signal to...

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Pattern completed last week with price closing below PRZ. I'm waiting for a retest : Price to at hit PRZ and RSI to hit overbought level again before considering to take a short trade. Based on the ED channel I've drawn, trend seem to upward. A short near or at the top of the channel will be ideal. Good R:R at 3.1 (TP1) and 5 (TP2). Do adjust lot size according to...

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Despite having a pinbar last month, this month has been bullish. The 78.6% level has been retested but pattern did not complete, pattern completed in January 2017. We might actually be looking at a very huge movement ahead. R:R at 1.9 (TP1) and 3.4 (TP2). I'll aim for 61.8 fib level first. Let's roll.

lyl89 Updated 

Bat pattern has completed, Price has hit PRZ, PRZ is also at a good resistance zone RSI is currently at overbought level, will wait to see if it shows a bearish divergence Good R:R at 1.7 (TP1) and 2.9 (TP2) Keep a lookout for RSI.

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A potential bat pattern might be forming on the daily chart RSI on it's way to oversold level R:R at 1.15 (TP1) and 1.9 (TP2) I have placed SL at 0.834, much lower than the usual 5-20 pips below X leg 0.834 is a strong daily support level As the SL is much bigger at about 105 pips, please adjust lot size to fit your risk appetite. NOTE : EU summit is...

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Bearish Crab Pattern has completed RSI showing bearish divergence, but is still at overbought level, will wait for RSI to go below 70 for more confirmation Average R:R at 1 (TP1) and 1.7 (TP2)

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How to spot a head and shoulders pattern : Step 1: Uptrend The very first part of a head and shoulders pattern is the uptrend. This is the extended move higher that eventually leads to exhaustion. Step 2: Left shoulder The market moves down to form a higher low. At this point, things are starting to come together, but we don’t quite have enough to draw the...

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Potential Bat Pattern completing soon RSI about to hit overbought level R:R at 1.2 (TP1) and 2 (TP2) EP : 1.67592 SL : 1.68300 TP1 : 1.66732 TP2 : 1.66134 I will update when pattern completes

lyl89 Updated 

Bat pattern is about to complete on GBPCHF PRZ at good resistance level on daily chart RSI is reaching overbought level soon R:R at 2.3 (TP1) and 3.8 (TP2) Will look for entry on H4 chart I will update if pattern completes.

lyl89 Updated 

Quoted from Bloomberg Bullion has climbed 8 percent this year as a weaker dollar combined with investor concerns over Trump’s presidency. Gold’s rally this week took it above its 100-day moving average, a sign to some traders and analysts who study chart patterns that prices may rise further. Traders are “seeking some safety in gold,” Jeffrey Nichols, a senior...

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Spotted this bat pattern slightly late as it has started to react. PRZ seems like a good H1 resistance zone judging from consolidations along the zone Shorted at 1.2482 where price is still in PRZ RSI has shown bearish divergence R:R at 1.2 (TP1) and 2.1 (TP2)

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Terminal bar has formed for the bat pattern RSI is at overbought level, waiting for bearish divergence R:R at 1.5 (TP1) and 2.5 (TP2) I have been down on a few trades yesterday as I neglected economic news. Some EUR CPI news in 1 hour, I'll wait till after the news are released before considering a trade.

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Market opens tomorrow morning, I'll be waiting for this bat pattern to complete. RSI might be dropping to oversold level Slightly risky short term trade, R:R at 1.1 (TP1) and 1.8 (TP2), remember to adjust lot size according to your risk appetite. Pattern spotted on H1 chart, TP in terms of pips is much smaller. I will update if pattern completes.

lyl89 Updated 

A couple of short ideas for GBP pairs next week, including GBPCHF. Note that pattern has already completed and reacted However, price went back and closed slightly above PRZ MIGHT be a retest for this bat pattern if price shows signs of reversal R:R at 1.4 (TP1) and 2.4 (TP2) Will find entry point based on H4 chart and candle type

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Bullish bat pattern seems to be forming on H1 chart PRZ at good support level Awaiting RSI to hit oversold level R:R at 1.1 (TP1) and 2.3 (TP2) I will update when pattern completes.

lyl89 Updated 

Completed shark pattern on H1 chart Price had dropped but gone back into PRZ, giving the pattern another opportunity RSI seem to be showing a bullish divergence Good R:R is 1.8 (TP1) and 3.4 (TP2) Traders may choose to enter a long position now using market execution.