mjchase

mjchase

Potential for some correction on what has been an extremely bullish few weeks on GBPJPY. Due to the large size of this pattern I would use it a market narrative and look to accumulate a risk free position on lower timeframes.

mjchase

Shown on the chart is the 88.6% XA Entry of the Bearish Bat along with a 361.8% BC projection and a 161.8% AB=CD. Will look for reversal patterns on the lower time frames to enter this pattern,

mjchase

Looking for a potential continuation of the Bullish trend on GBPJPY . Will be looking for other Harmonic patterns on lower timeframes to give further validity to take this set up.

mjchase

Here we can see the potential makings of a bullish bat pattern , EURGBP has seen some bullish relief recently after weeks of consistent bearish pressure. Entry has been taken on the 88.6% XA measurement with the stop loss at 100% of XA. Targets are 38.2% and 61.8% of AD.

mjchase Updated 

We can see on the daily timeframe a potential deep crab on EURGBP. After the initial bullish reaction breaking the bearish trendline price has now retraced and retest above the trend line. With this price action and the harmonic deep crab i would be looking to take long positions on the lower timeframes and build up a risk free position. On this particular...

mjchase

Here we can see what could be the makings of a bullish deep crab harmonic pattern on the 4 hour timeframe. The entry would line up extremely nicely with the much larger bullish deep crab on the daily timeframe but with a much smaller stop loss.

mjchase

We have the potential makings of a bullish Gartley pattern on the daily timeframe. The entry of this pattern at 78.6% utilises a stop at 100% of XA. Looking at the 78.6% entry point we can see this is previously a massive area of support and resistance. Due to the large stop loss for this pattern it would be used as a market narrative to find positions on the...

mjchase

Bitcoin has broken new highs but we could potentially be looking at a bearish deep crab formation.

mjchase

We can see the potential makings of a bullish deep crab on the daily time frame. In this particular pattern the Potential reversal zone or PRZ is defined by a 161.8% XA measurement which uses a stop loss at 200% of XA. In this particular instance the pattern exhibits a 127.2% AB=CD measurement and a ~314% BC projection denoted on the chart. These measurements...

mjchase

Price on GBPNZD has formed a bearish butterfly 🦋 harmonic pattern on the hourly and 4 hour timeframe. The key measurements for the butterfly being the ~78.6% B point and the 127.2% XA measurement for entry. First and second targets are shown as 38.2% ans 61.8 % of AD respectively.

mjchase

We have here the potential makings of a deep crab harmonic pattern. Will look for entries on the and around the 161.8% XA.

mjchase

GBPJPY has been extremely bullish lately but we can potentially see the beginnings of a move to the downside. Here we can see the makings of a bearish Gartley pattern We can see the initial 61.8% B retracement and the 78.6% entry point.

mjchase

Potential bearish butterfly. Key areas being the 127.2% XA entry point and 261.8% BC projection. Both these measurements were broken in a single bullish candle.

mjchase

The Bat requires one of the smallest stops of the harmonic patterns. The entry is at 88.60% of XA while the stop is at 100 %. Also denoted on the chart is the 261.8% BC projection. We can see on the lower timeframes price immediately reacts to the 88.60% entry point. Both the 88.6% and 261.8% were broken in one bullish candle confirming entry. If further...

mjchase Updated 

Here we can see a potential bullish butterfly entry. The key points of the butterfly are ~78.6% B retrace entry. 127.20% XA entry point. There are multiple different BC projections which are acceptable this being particularly close to the perfect 2.24 at 2.25 of BC. The right entry should be found on the lower timeframes to use a smaller stop.

mjchase Updated 

Potentially could see a move to the downside if BTCUSD fails to break to new highs. The bat patterns utilises an extremely small stop loss , entry being at the 88.60% of XA and a stop loss of 100% XA. The pattern shown also possesses an ideal 200% BC projection.

mjchase

Furthermore to the weekly bat pattern on the previous idea there is also a potential bearish butterfly pattern forming. The butterfly posseses a distinctive ~78.6% B point. utilising a 127% XA measurement for entry and a 161.80% stop loss. Also displayed on the chart shown is a 224% BC projection close to entry, further providing validity to the pattern...

mjchase

Potentially looking at a bat pattern forming on a large timeframe. The measurements shown are ; 88.6 % XA entry point with a 100 % XA for the stop. Also is a 261.8 % BC projection and 127% AB=CD Measurement. Due to the size of this pattern it would be used to provide a market narrative finding entries on a lower timeframe.