lyl89

lyl89 Updated 

A bearish bat pattern seem to be completing. RSI is on its way to overbought level. The PRZ is at weekly resistance level, which might have more potential of a reversal if price hits PRZ. R:R at 1.1 (TP1 : 38.2% retracement of AD) and 1.9 (TP2 : 61.8% retracement of AD). Traders do take note : I am looking at the daily chart, SL and TP is much wider, position...

lyl89 Updated 

A bearish bat pattern might be completing soon on H1 timeframe. Risk:Reward at 1 (TP1) and 1.8 (TP2). Cross analysis with DXY as they are inversely correlated, a bearish bat pattern might be completing, do refer to the other post on DXY.

lyl89 Updated 

A bullish bat pattern might be completing soon on H1 timeframe. Good Risk:Reward at 1.8 (TP1) and 3 (TP2). Cross analysis with XAUUSD as they are inversely correlated, a bearish bat pattern might be completing, do refer to the other post on XAUUSD.

lyl89 Updated 

A butterfly pattern might be forming at the top of the resistance trendline. RSI is on its way to overbought level. Good Risk:Reward at 3.1 (TP1) and 5.3 (TP2).

lyl89 Updated 

Short term trade here, bat pattern completing soon. Slightly higher risk for this setup though. R : R at 0.9 (TP1) and 1.5 (TP2).

lyl89 Updated 

A bat pattern might be completing soon based on the 15 minute chart. RSI is about to hit oversold level. R : R at 1.6 (TP1) and 2.6 (TP2). This will be my last trading idea for 2016 =) Happy trading guys and happy new year!

lyl89 Updated 

- Bat pattern completed. - RSI at overbought level, showing bearish divergence. - R:R at 1.2 (TP1) and 2.1 (TP2). Depending on this hour candle's closing. will try to short at PRZ or at market execution.

lyl89 Updated 

Spotted a pattern which has completed again. Although bat pattern has completed, there is no sign of retracement at the moment. I'm waiting for this hour candle to close and decide again. Once again, smaller time frame yields smaller profits, every profit counts.

lyl89 Updated 

Good timing on this pair, last hour price closed in the PRZ. Current hour candle is showing retracement, similarly for RSI, a bearish divergence from overbought level. AUDUSD has been declining, I will only be taking short positions. I will be shorting if current candle is bearish at the end of this hour.

lyl89

A bullish symmetrical triangle breakout has happened recently and it might be happening again. Things to note: - Established trend should exist (Uptrend in this case) - The triangle should have lower highs and higher lows as indicated. How i trade this breakout : - Entry price placed slightly above previous high of resistance trend line - Stop loss place...

lyl89 Updated 

Shark patterns ideally have 3 PRZs. This shark pattern has 2 PRZs, where PRZ 1 is invalid IF price goes way beyond that zone. The cut in oil production didn't affect USDCAD drastically, price is settling close to the bottom of the daily ED channel. If pattern completes at PRZ 1 before the Fed interest rate decision and FOMC, I will be looking to long this...

lyl89 Updated 

Yes, it's all over the news that OPEC has agreed to cut production by 1.2 million barrels a day by January, will it be short lived? WTI has increased more than $4 since yesterday, and I see a potential bearish bat pattern forming. PRZ is around the daily resistance level at $51 to $52. Good R:R at 3.6 (TP1) and 19.7 (TP2). WTI will probably continue to rise...

lyl89

A potential gartley pattern might be forming soon. This is also backed up by a ABCD completion indicated by the brown lines. Point D aligns with PRZ nicely, the area is also a resistance level. 50,100,200 EMA are converging to an upward direction. AUDUSD will continue to rally If AUD maintains interest rate tomorrow. I will update if pattern completes. Happy trading =)

lyl89 Updated 

AUDNZD seems to be ranging at the moment, but slightly downtrend. This bat pattern is about to complete, setup looks good based on the tight PRZ. Stop loss is placed slightly below the 4HR support level. R:R at 2.3 (TP1) and 3.7 (TP2). Not much upcoming news on AUD and NZD except for AUD cash rate on 6 December. I will update when pattern completes, most probably...

lyl89 Updated 

A bullish bat pattern might be completing soon, hopefully in less than a week as we are looking at the daily chart. PRZ is very close to the bottom of the ED channel, giving more potential to long EURUSD. Good risk : reward for TP1 @ 2.17 and TP2 @ 3.63 I will still wait for pattern to complete although RSI is already at oversold level. I will update if...

lyl89 Updated 

A bullish bat pattern is about to complete with PRZ at support area. Better results : Retail sales and PMI figures for CHF a while ago, pushing USDCHF to PRZ soon. RSI is reaching the oversold level. Market seem to be ranging at the moment, tons to US news coming up the next few days. I will update when pattern completes, trade with caution.

lyl89 Updated 

USDCAD Analysis Price is currently above the Daily ED channel. However, I have spotted a bearish butterfly, waiting for price to close in the PRZ. I will be monitoring RSI and H4 TF for entry. RSI is at overbought level on H4 TF now, awaiting bearish divergence. Note : This is a counter trend trade, so monitor your trade closely, I might not choose to wait...

lyl89 Updated 

Price is close to the top of the ED channel drawn based on daily chart. A bearish butterfly has been spotted around that area as well, a potential short. RSI is also at overbought now, waiting for retracement to enter the next hour.