Bullish Gartley pattern on the NZDUSD and also extra Fibonacci confluence using the last leg available. Structure is just minor, but it's a valid pattern for pattern traders. Goodluck!
Possible RSI Divergence Nice Risk to Reward immediate Trend is up, longer-term trend is down
Going against Trend here Risk to Reward (is really nice) = 1:1.92, for 1st Target! Nice recent support above Stop loss 1st Profit Target is at Structure (resistance)
Pair is currently sideways after making some highs. If kumo breakout below occurs, allow to break 200SMA for confirmation of trend change. Watch for break to the upside as well in case of trend continuation.
Got two targets both on strong fib confluence, 1st target around 0.61 fib and also round number - 1062, 2nd on 1058.
bearish butterfly set-up usdjpy on 1H
a butterfly trap in a cage LOL my bullish buttefly set-up
FX:AUDUSD just broke out from its daily trend line, but in 1h chart, its showing overbought level with divergence. also it is at its PRZ for a bearish AB=CD pattern with a 1.618%AB extension. we could see a possible pull back at the beginning of the weak, and change our position once with reach our buy zone. risk reward wise 1:2 for initial tp and at least 1:4...
Short term intraday review of current possibilities On a 1H chart we have a bearish chart pattern At daily pivot Price is currently at 50% Fibonacci retracement area (Filtered to 1H timeframe) in a relation to previous swing Down Due to all the mentioned above and a current price position (intraday - independant view) I will look for Bearish PA patterns...
bearish crab is developing. fibo cluster, price action resistance zone and crab completion. RSI overbought condition.
GBP/JPY IS APPROACHING SIGNIFICANT RESISTANCE AT 194.59, OFFERING A LOW RISK SHORT TRADE AS A DOUBLE TOP MAY POTENTIALLY FORM. PRICE ACTION PREVIOUSLY SUGGESTED THE 194.59 LEVEL WAS PROTECTED BY SELLERS, A REJECTION OF R1 AGAIN EXPOSES THE DOWNSIDE OF 190.97 (S1) - A BREAK OF THE SHORT TERM TRENDLINE THAT HAS FORMED WOULD ADD EXTRA CONFIRMATION OF FURTHER...
This is a close up at the late correction of USDCAD. I've identified as a 4th wave of 5 at daily timeframe, which is expected to go sideways for some moments. The entry is not aggressive as the projections leading price to the $1.35 in near future. Fundamentally it is quite possible as the recovery of the US economy and its 5-years-low-rate instigates a rate hike...
A potential short opportunity at the completion of a bearish bat which is the 0.886 retracement of the XA leg. Stops need to go above X. TG1 is at the 0.382 retracement from A to D. TG2 is at the 0.618 retracement from A to D
A potential short opportunity at the completion of a bearish gartley which is at the 1.272 extension of the AB leg. Stops need to go above X. TG1 is at the 0.382 retracement from A to D. TG2 is at the 0.618 retracement from A to D