Bearish Butterfly Pattern Entry: 1.5700 Stop Loss: 1.58220 Profit Target: 1.53220
Notes on Chart
When there is a confluence of patterns that point in the same direction, there's probably a good chance that SOMETHING will happen around that point. And we have that possibly happening here soon. On my chart, I've identified TWO patterns that have confluence: a bearish butterfly and a beraish Gartley pattern. Both patterns D points are very close to one...
As we know, NZDUSD is overwhelmingly bearish. This looks like a good opportunity for both pattern traders, and the trend continuation crowd. We all know the risks inherent into blindly trading butterflies, as you are essentially buying or selling a break of structure. However this time looking left, we see some minor structure levels if we are to expand our...
In this week's Weekly Markets Analysis I wrote a special article about catching shift in trend. marketzone.tumblr.com In this $EURAUD example we can clearly see the stages from the initial RSI signal to through the different patterns till the actual confirmation that there's a new trend. Notice how the Butterfly pattern was the top of the trend, creating an...
We have a potential Butterfly pattern setup, which also confluence with a previous structure level. I would love to hear your opinion, feel free to comment, agree or disagree. ----------------------------------------------------------------------------------------- Always wanted to connect, learn and help one another throughout your trading journey? Join our...
Update: gbpaud has shown no respect for the PRZ. I am abandoning this trade. Looking to get out at my entry point. GBP has been on a tear vs the AUD. This is the first RSI BAMM set up we have had on the weekly chart in years. First there is a complex RSI formation back in January 2014, 50 RSI was breached, and now we are back above 70. There is also a beautiful...
Line of sight A butterfly wants to fly. But wait..is it a Shark waiting to take a bite? Going up to fast The butterfly is going up (too) fast. Or is it? Signals RSI (7) is going too fast compared to how much it is retracing.. If it is heavily oversold at the first line of defence, this could be another trend following setup.. If it is heavily oversold at...
UPDATE: With the breaking and closing below of the X point in both these patterns, they are both now INVALID and should not be considered for trading. Best to wait and see what develops from here. I published this chart on another posting on this pair (see Related Ideas: AUDUSD: Dueling Cyphers and All That Jazz! Top-down analysis....). You can go to that chart...
I'll have to admit that this pair had me scratching my head for a while. Until I finally sat down and did a thorough top-down analysis on it to see what the big picture was. But first, since my headline is what probably caught your attention and is the reason why you are checking out my chart, I'll explain about that first. Currently, I have spotted 2 cypher...
Retracement, probably looking for structure around 1.56139, it is expected the completion of the pattern at point D. Enter Short at D. Targets around 61.8% the first one; Around 127.2% the second.
Hi everyone we have a pattern on GBPAUD. The price does seem to respect it also the targets have been labelled on the chart. TP1:2.00684 TP2:1.984117 RP3:1.96822 TP4:1.95184 Lets see and Good Luck
Short at D Tp1 at 38.2% Tp2 at 61.8%
Why long? breakout of grey box - its up line will act now as kind of S/R (support resistance) this place was also 161.8% fibo (red AB) My idea is price will go to another fibo level (result of measuring orange XA) pullback to S/R up to D point of butterfly then down for a while but no further than c.a. 1.45 Previously my idea was short, but...
Hi everyone I posted the first pattern (blue) few days ago, it seems to be in a progress so far. But we should also consider the trendline that are closing in which could lead to a potential downside trade or a confirmation for the blue pattern. Secondly, we have a cypher pattern (red). I will be updating along side as the market makes moves. Lets see and Good Luck
Hi everyone last week we traded two patterns on GBPAUD and both reached their target(s). The last pattern reached its target as well and the price reversed after that. The price might be at a previous resistance. Lets see if it comes down towards 1.998. I appreciate all the comments and likes, new charts will be posted soon :) Good Luck.
here we see a Butterfly pattern forming on the Euro against the Yen. If the pattern makes it above 136.025, the pattern will be complete, in which case i have places my entry at point B , my limit at the 1.618 extension of the BC leg , and my stop at the Red D point, because at that point , we are at roughly a 2:1 risk reward ratio, also because I am going to...
Here we see a butterfly pattern on the New Zealand , United States charts. I have given the market some space to complete the end of the butterfly pattern before continuing in a bearish trend, because the closer to perfect the pattern is , the more secure of a pattern it will be. I have placed all of my order actions in the usual places, with one exception....