Some Recent 15m price action analysis with Bearish Three-Drives Pattern. I think the SMA 100 will come into play after the next leg up. The SMA 50 is also standing by on the Daily, noted on the recent Bullish action Sunday Evening with quick profit taking. Bulls will need a great deal of momentum here to break SMA 50, 100, and the Downtrend Line in place from...
If Bulls blast through the Daily SMA 200, this Bearish Three-Drives, and the Long Standing Descending Channel would dissolve from our charts as they would no longer be valid. If Point C on the Bullish Butterfly is also ignored, then ETH Bulls have had enough - the 100 and 200 SMA would be gained on the Daily.
The 100 SMA could very well cross the 200 SMA with...
D for the bat ends up around the $3200 order block, it would be a good spot to load up lomgs with a SL below the previous low.
scarily if this is a bullish butterfly we will break that low to create a new lows sub $3k
We will look for a bullish reversal pattern on the smaller chart timeframes at D Fib 1.27 Ext.of XA.
If the price breaks out and makes H4 Closings below 0.97500, the pair is likely to test 0.96500.
Deep Crab would be completed and we will look for a Long opportunity.
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EURUSD is still on its bearish move. I'm waiting for the retest back into the sell zone for a shorting opportunity.
And of course, with Wayne's analysis, it is possible to look for a buying opportunity at D completion as a counter trend trade.
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USDJPY has been bearish as projected in my last post. We are looking to see UJ reach the D point where it meets a confluence of a D1 trend line as well as an H4 bullish harmonic. Rally of price is expected strongly at this D point. I expect level 3 behavior at that point culminating in a strong buy.
UK Pound still on its bearish run, we have took extended target on this Bearish Bat Pattern and we are glad we did.
Target 2 hit a total of 107pips profit.
As for counter trend trader, do note on the black line that seems to be a strong support, if it is broken, it may extend lower. As for me, I would need additional confirmation before engage on this counter...
#XLM/USD Stellar giving an awesome and highly profitable Butterfly Pattern!
Point D could be anywhere in the light blue rectangle, but this seems pretty much the bottom and reversal, matching perfectly the 168% fib. retracement.
FA of Stellar is pretty bullish at the moment and Coinbase soon to be, all in all, will depend on BTC since it's USD pair.
TP1: Point A - 0.30$
GBPUSD on the higher timeframe it is on its bearish move. On the H4 chart, interestingly the entry price for the bullish butterfly(cyan) is the exact price I'm exiting my Target2 on my Bearish Butterfly Pattern Type 2 Trade.
I will wait for the candle form up based on H4 chart and that will help me decide should I engag a counter-trend trade?
And if I did,...
If you are in my inner circle, you should know that I'd already shorted GBPUSD and it has already attained 204pips as the 1st target has been achieved, waiting a bit more for target 2 to be fulfilled.
What's interest me more is that my target 2 completion ends at a butterfly completion.
Yes, I can turn and reverse the trade the trade and go long straight or I...
AUDUSD is Identified with HARMONIC PATTERN - BULLISH BUTTERFLY on Weekly Chart
currently on M30 Chart there is Bearish BUTTERFLY and Hence it's not Ideal to BUY AT Current price
wait for a minor correction in order to get in,
These are the preferences,
BUY AUDUSD - 0.71627
STOP LOSS - 0.68965
TARGET - 0.78979
More updates will be posted under this...