If you are trading today's NFP later, you might also want to take note of few potential technical setups we have on USDJPY. We have a bearish setup - butterfly with completion at 114.90; and a bullish setup - bat pattern with a completion at 112.40. Currently price is in a consolidation triangle pattern. Breakout traders can trade the breakout with NFP as the...
bearish butterfly on EURJPY. there is a resistance 30 pips above and a confluence with 1,618xa and D point
I recently posted an idea where i described that we should wait for a breakout to the down something that didn't happen. Price contiued its rally and has now completed a bearish ab=cd pattern. Stoploss will be tight, just above previous swings giving us a great risk/reward ratio.
Make sure no more uptrend and just do it :)
FX:AUDUSD 1D completed a Butterfly Pattern, and has started to rise for 8 days. The perfect enter point is 0.6912 (127.20% level of Fibonacci, XA) Now try to buy at 0.7013 (100.00% of Fibonacci) TP 1: 0.7101 (76.40% of Fibonacci) TP 2: 0.7298 (23.60% of Fibonacci) SL: 0.6783 (161.80% of Fibonacci)
Let's see if it works, take care :)
As we approach NFP tomorrow evening, we have a potential setup on EURJPY. Area of interest would be around 125.80 to 126.00 which confluences with previous minor structure level as well.
We can observe how the price action has created a possible butterfly pattern by point B reaching the 0.786 retracement, point C not going below A and current price action going above X. We can also see some degree of RSI divergence at the over bought area. The execute point for the short entry is unclear, as there is strong ratio confluence between the 1.272 and...
Hey traders, This is a simple Gartley pattern almost at market now. So far patterns have been good to us this year. As most of you know, Stops must go above X and Targets could be the 38.2 and 61.8 or you could use a level of structure to remove half your position and trail your stops. Like always if you have any questions, comment below, follow us on social...
Price in AUDCAD has completed a bullish ABCD pattern and is about to complete a bullish butterfly pattern. Stoploss and profit targets as shown at the chart.
Looks like an emerging Butterfly.
BULLISH BUTTERFLY WITH A HUGE RR. TP1 AT 38% AND TP2 AT 61% LEG AD
so long position? whynot
My first weekly chart ever :-) I think it is quite probably scenario DAX fall to 7600 or even 7400 to complete butterfly advanced harmonic pattern. Obviously pattern itn't exactly perfect, as B point should be in 78.6% of XA, but in trading nothing is perfect and actually mathematics is great in drug store rather than here :-). More about this pattern - here
Hey traders, So we just came off our last Bat and we are setting up for another potential Bat Pattern. This could be signaling possible consolidation, which is good for harmonic patterns. Remember, stops below X and targets at the 38.2 and 61.8. If your rules do not allow for patterns, do not trade them, stick to what you are doing because hopefully you have...
Potential Reversal Zone at 2.1236 with potential targets at 2.1640 and 2.1885. For the brave souls that choose to take this trade, stops should be below the 2.1075 level.