We have a Double Top pattern formation at a monthly resistance level but I think that price will rally again for the third time since RSI is indicating that price is nearing oversold levels and a Harmonic pattern is about to complete. Price may form a Triple Top before a downward move. Regardless if it does or does not form one, we will enter short trades upon...
SEE COMMENTS BELOW FOR OTHER LONG OPPORTUNITIES: On a 4H chart, we have a confluence of Bullish Reversal Patterns and Signals: Reversal Divergence + Continuation Divergence Double Bottom on Price Gap (failed to break through) Symmetrical Triangle Candlesticks within the Triangle Include Bullish Engulfing, Hammer, & Inverse Hammer We enter positions upon...
EURUSD is poised for a drop as bearish divergence is brewing on a monthly chart coupled with an overall harmonic price pattern completion, price reaching 23.6% retracement and monthly bearish downtrend. On a 4H chart, price is in a bearish channel with 2 harmonic price patterns having been completed. On a 1H chart, RSI is already indicating that price is at an...
If all goes well, we can reap a massive 1100 Pip Drop from this trade. Price has been having difficulty penetrating Monthly resistance for quite sometime, is on a 38.2% retracement level, is under 200 SMA, and if it reaches previous low, will complete a double top. Notice also that we have price-oscillator divergence. We'll be looking to first enter a short...
Entering this trade because of this reversal signal only. 50% retracement finds price action way way back. Time to prove if candlestick patterns really are worth something.
Let me know your thoughts on this.
Price just bounced off Monthly Support and Weekly Bullish Trendline, and is currently at oversold levels.
Entry at 1.26169 TP1 at 1.27001 | Risk/Reward Ratio (RRR) = (1 : 2.4) TP2 at 1.27271 | RRR (1 : 3.2) SL at 1.25871 We now have a completed Bullish Butterfly pattern at around a major support area. I would recommend entry upon exceeding the previous low with 1st take profit level at the 50% retracement level of impulse move CD and 2nd take profit level at...
Overall Bias - Bearish from a Daily point of view Confluence of 2 Bullish Cypher Patterns to complete on Point D (Possible TP areas) and 1 Bullish Butterfly Pattern to complete on point D (Another TP area) Price is within a bearish pennant further confirming potential bearish move upon breakout to confirm harmonic patterns
NZDUSD is currently ranging on a monthly chart between .382 and .50 retracement of July 2014 and August 2015 price, and is within previous range area September 2009 and September 2010. Overall, NZDUSD is within bearish bias. Two bearish Cypher patterns completed on a daily chart at .73036. D point also happens to be at a bearish trend line from a daily, weekly,...