lyl89

lyl89 Updated 

EUR/NZD Daily Chart I see a potential Gartley pattern for me to short soon. Waiting for price to hit about 1.56475, ideally at the PRZ (Potential Reversal Zone). ECB President Mario Draghi speaks tomorrow. He may talk about the risks of deflation despite the generous quantitative easing and the negative rates. Market volatility is expected. He may provide more...

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Trend line resistance based on daily chart have been respected so far, price seems to be holding now. There is potential to short at the top of this ED channel, a bearish shark pattern has also been sighted. RSI is now at overbought level. Why one might not short : - Bullish engulfing candle - EMAs crossing, diverging - Events happening tomorrow morning in...

lyl89

EUR/NZD Analysis A bearish bat pattern is about to complete on the daily chart. Waiting for price to hit the last PRZ point @ 1.57836. RSI is reaching the overbought level, price is about to hit resistance of the trend line. R:R about 2.8 (TP1) and 4.7 (TP2). I will update when pattern completes.

lyl89 Updated 

RBA interest rate decision will be announced in about 2 hours, keep a lookout for this pair. If i/r maintains or increase, AUD/JPY will probably rise. There are no other announcements at that time to cause indecision for the market, except for the RBA Rate Statement. PRZ is tight at 22 pips, good risk to reward at 2.3 (TP1) and 4 (TP2) respectively. I will update...

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CADJPY Analysis This shark pattern has a very good risk to reward, about 4.5 & 8.5 respectively, PRZ is about 18 pips. In addition, the thick black dotted line is based on daily trend, might be a strong support line. I will follow up if pattern completes.

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EURGBP Analysis Bearish Crab Pattern spotted on H4. PRZ : 15 pips Good potential to sell because : 1) Price is close to the top of the equidistant channel 2) RSI is at overbought level 3) Hourly candles seem to be consolidating, strong resistance at 0.8807 Risk to reward is good : 1.9 (TP1) and 3.2 (TP2). The Fib Time Zone is represented by the blue vertical...

lyl89 Updated 

A Bearish Gartley Pattern seem to be completing soon. RSI currently at overbought level. Risk to Reward : 2.2 (TP1) and 3.7 (TP2) respectively) I will update when pattern completes.

lyl89 Updated 

EUR/USD Analysis I sight a bullish crab pattern forming on H1 and convergence on the EMAs. There are 2 PRZs for this pattern. I like that both zones are very tight, but I would prefer to wait for price to drop to PRZ 2 for better risk to reward. RSI is secondary, will use as reference when pattern completes.

lyl89

GBPJPY Analysis A bullish gartley setup is forming. Price has hit the first line of the PRZ, the pattern might be completing in a few hours. PRZ is about 30 pips on H1 time frame. Waiting for the UK Manufacturing PMI results to kick in (forecast to be worse than previous). Good risk to reward, about 2 (TP1) and 3.5 (TP2) respectively. TP1 : 38.2% retracement...

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OPEC decided to cut production, EURCAD has dropped to 1.4644. At the same time, a bullish bat pattern has also completed with price retracing slightly above the PRZ. RSI is moving away from the oversold level, I am ready to go long at the next hour candle. Risk to reward ratios looks fine at 1 to 1.3 for TP1, 1 to 2.3 for TP2. I noticed it a little late, you guys...

lyl89 Updated 

Price has hit the PRZ and is showing rejection at the moment. RSI is having a bearish divergence from the overbought level. I will short EURCAD on the next hour candle. SL : 1.48563 (127.2% extension of XC) TP1 : 1.47261 (50% retracement of CD) TP2 : 1.46395 (88.6% retracement of CD)

lyl89 Updated 

A bullish crab pattern has completed on the H1 time frame. I just saw this, price had went through the Potential Reversal Zone. However, price seem to be picking up again. I am looking to long this pair tomorrow morning.

lyl89 Updated 

Bearish Gartley Pattern has completed on the 30 minute time frame. Entry price at 100.75 as soon as i saw it. TP at AD Fib Retracement of 61.8% SL few pips above Point X. Tighter SL and TP due to smaller time frame analysis

lyl89 Updated 

A bearish bat pattern might be completing very soon, hopefully the next candle. Stop loss is about 30 to 40 pips, depending on entry price within the yellow zone. Take profit will be at 38.2% Fib retracement of AD, about 60 pips. Risk to reward ratio for this bat pattern is about 1:2.