Using caution today and through the weekend, here is a potential setup with a 4 hour Gartley pattern I would use as confluence to the Daily double bottom forming. I would keep target 1 tight at a .382 and look for a retest of previous pivot high for target 2. Good luck trading.
Possible Cypher pattern completion I would consider only as confluence for the structure zone above which is more important in my book. The 1.272 inversion of the BC leg would be where I would look for entry. Good luck trading!
2 patterns, Bat and Cypher to get long. I will scale in at completion of one or both. This could be a very good entry to retest previous highs or test extensions after the last 4H double bottom. Good luck trading!
Counter trend Bat close to completion. RSI divergence in play as well.
There are a couple of advanced patterns that COULD be in work for this pair in the upcoming week. Please note my current trend is on the 4 hour time frame. I would be scaling in at each entry point for these patterns looking for a final re-test of previous structure at .98800. There is Daily Cypher pattern that has already completed to be very aware of. There...
If we can get a close below the B point this pattern completes at a previous structure zone and AB=CD pattern within the D leg, at least at the moment. Good luck!
This pattern is close to completion and decent risk reward for a Cypher
Market made its double bottom and hit target 1 & 2 for the butterfly late last night, sleeping of course.....lol. I will look to enter on a 2618 retracement entering a bit lower from the .618 to fit my 1:1 and give a stop less than 1.5ATR from the lowest low. NOTE: Butterfly is for reference only!
Here is a Butterfly completing at previous structure left, at a daily .618 retracement level and has already made a run for the 140.000 even handle number on the first attempt. Stops at the moment would be in no mans land so I will not be trading this unless it can put in a double bottom to build structure for stops. Good luck!
2 potential patterns. I would not be trading either of these until after NFP shakes out.
Nice Cypher that could complete at minor structure to get short with the trend
If price closes below the B leg I would be looking long at .94930's riding price up to the higher time frame Bat.
This could be a very nice and tidy little Bat. Completes at higher time frame .618, at good structure and .96000 even handle number.
Trying to clear the Holiday cob webs out.....! If this potential Butterfly completes a valid C point, D completion would come in at a nice previous resistance point (2006) for a counter trend short.
A good entry reason for trend continuation on this pair if the pattern holds together.
If this pattern holds together and completes at the 1.272 extension I would be on alert for a push down into 77000 and looking for additional lower time frame entry reasons. There is previous structure left way back in 2008 as well.