EURUSD has a Bearish Shark Pattern, the first target has been reached. Counter-Trend Traders could wait for a counter-trend trading opportunity, like Double Bottom with RSI Divergence to engage the trade.
The earliest you can wait for a buying opportunity is at 1.0537. Target1 will be the retest of the Shark Pattern, which is 1.0588.
If you have followed last week's analysis(link at the bottom), you could have caught some profit from the Bearish Shark Pattern setup.
It's a bad idea to jump in the trade and take the short trade now because you won't have an edge over the market.
Instead, you could wait for the 5-0 Pattern completion for a counter-trend move. The formation can complete as...
RSI is moderately extended and we've had a mad amount of volume come in on that wick test to the PCZ, from the looks of it WTI is setting up for a major reversal.
Last week, we spoke about the EURJPY 5-0 Pattern complete on the Weekly Chart, if you had bought it when the market opened, you would have at least gained 283pips of profit.
If you had not done that, the next thing you would probably think of is to engage as soon as you have the opportunity.
Well, there is a Potential Bullish Flag setup complete at 127.46,...
A Bullish 5-0 Pattern complete on the Weekly Chart. If you had engaged the Bearish Shark Pattern I've shared last year, you would have gained a total of 848pips by just waiting for it to hit the profit level.
Trading the Shark Pattern isn't an easy task as it can have up to 3 different entry zone, which means when you get stopped out the 1st time, you should...
SOL/ETH has a potential ABCD BAMM which looks more likely to playout now that we have a nice looking Bullish 5-0 formation at the highs with a decent amount of Hidden Bullish Divergence. This may lead to us rallying up to and above the B point of our ABCD which by then we should have a clear runup to the D point at the 2.618 Fibonacci extension.
We may see a bearish reversal between the 786 and 886. If it pushes to the 886 or even the 113 before reversing then we may instead get a bullish 5-0 move.
QTUM is shaping up to retest the upper limits on it's consolidation wedge.
Volume has been breakout out on the way up so far, good sign.
Bullish 5-0 pattern present from most recent breakout within macro wedge. Pretty cool I feel like i never spot this one live.
RSI is in an aggressive spot and looks to have lots of room to breakout.
MACD is showing a...
The price of FCPO climbed above 3000 after it failed to establish the reciprocal head & shoulder from the previous call. Price touched the supply zone (violet box) again. However price rejected and fell to 2800 psychology level.
In a short term view, the price may hovering with a bullish 5-0 harmonic pattern identified supported on the level of 2800. A potential...
On EURCAD we have a bullish 5 0 pattern that just formed a bullish gartley at the pattern completion zone. We also have bullish divergence on the Macd and RSI 4hr and hidden bullish divergence on the daily chart.
A bullish pattern 5-0 completed. Price might test the stop level. Preferably price action indicate upwards & strength oscillator rebound from the oversold zone before execution to be made.
Stops: 2343
Entry: 2357
TP1 : 2413
TP2 : 2428
29/02-2020
This time we are looking at a bear Gartley 886 completion with symmetry between London session closing prices on the 15 minute timeframe. This should trigger sell limit orders for swing trading.
Im going to try and place my entry point around 1.104-1.105 with initial stops around 1.106 or X and look for an extension target.
Our last trade on EU, all...
BTC has been showing some strength in the new year and has formed somewhat of a bearish shark that may very well turn into a Bullish 5-0, I have two paths here drawn out for the scenario that can play out if BTC pulls back at $14k. One is a pivot from the 50 percent retrace and the other is the 61.8 percent retrace at around $9600 which is confluent with a strong...
Great bearish shark pattern happening for the USDKK 1 hour chart. This harmonic chart pattern will likely complete as it is just about there. Once in a short, looking to take profits at the 38.2 and 61.8, however, this pattern can morph into a Bullish 5-0 pattern at the 50% profit fib level, so will be watching price in the fifty level. It could bounce hard there...
The FTSE 100 is shaping up nicely on the 4h chart, I'm expecting this bullish 5-0 formation to complete within the next few weeks at the 50% retracement level.
The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50
We will be trading with a stop loss below the 0.618 retracement level at 7240. If we execute the...
