Reading the chart
The pair broke a midterm upchannel with a weak extension of 120.9% of X to A. This break of the upchannel sets my bias to short. Also, with a weak extension in mind I would expect a deep retracement back to X. This retracement should end at approx. 0.7189 with a confluence of the dynamic resistance of the current downchannel at approx....
The PRZ of the gartley pattern would fill the gap 2017-04-23.
Setup
Entry: 109.11
stoploss: 107.42
target 1: 111.11 (1:1.19)
target 2: 112.35
target 3: 115.79
Reading the chart
After the French election the pair surged higher until it hit a "major" dynamic resistance (reprojected a channel aligned at the 2016-10-06). Now it consolidates awaiting the big news from the UK. As a pattern trader I look for patterns within consolidation with potential to break out. If I loose, I reset and wait for a retest of the broken...
The pair broke a significant dynamic resistance (16H/D/W). Resistance should become support.
A nice gartley pattern presents itself for a long opportunity:
The potential reversal zone (PRZ) of 18.6 pips is defined by:
- 127.2% extension of AB
- A bigger 61.8% retracement of AB=CD completion pattern.
Setup
entry: 0.86293
stoploss: 0.85860
target 1: 0.86756...
HI guys,
A few days ago I posted an XABCD which, once we took out the stops, rocketed yesterday.
Looking at this chart, I see current profit taking hence that's why we've stalled.
Overall I see 118.000 as the big target with maybe a 3 drives to get us up there.
I'll closely be watching price action and the over-so important Daily Candle closes throughout the...
Usually i am not a big fan of harmonics
because of the many levels that are needed to be
reached, before a harmonic pattern is complete.
The levels should also match the price action
of strong resistance and support zones,
and i see it very rarely that the levels match the
price action of strong support/resistance zones.
I use the harmonic in this chart...
I put out a video breaking down this massive potential Bat pattern that is potentially setting up on EURUSD. This Bat pattern will potentially complete at 1.08126.
Minimum stops need to be above X at 1.08734 with potential target 1 at 1.06370 and target 2 at 1.05255. Now the really nice thing about this pattern in particular is where it will potentially...
Good Afternoon Traders,
A cypher pattern has completed on the GBP/USD 1Hr TF. The C leg came very close to closing above the 1.414 extension, luckily only wicks formed. My stop has been placed at the X leg, which also ties in with other key support/resistance zones.
First target - 1.23227
Second Target - 1.23678
Follow me on Twitter: BrightForex
Thanks and...
