A reversal in GBPNZD is expected as a Butterfly Harmonic pattern is expected to play out at a resistance Level.
So far since last week i've caught over 1000 Pips watching US30 very closely and its moving very well with harmonic patterns + reversal confirmations. Right now price is sitting at the 786 fib, but I want to see price consolidate and break to the downside confirming my overall tran Bias. This paid has already broken lower lows and has pulled back, I'm going to...
My first overview of a narrative driven trade that is likewise seeing strong bottoming in technicals. Let's start with the narrative and get all excited before we get into what actually matters, the only truth - price action. ONVO is a microcap. While I have found myself trading smallcaps/microcaps recently, I honestly did not think I would be writing about them...
Butterfly SHORT session continues. Enjoy!
Feel free to comment.
DXY broke above 100$ and above the 50 MA line last week despite mixed jobs report. The breakout signals that DXY intends to climb higher. Its next targets are: 1) 101.5-102$ (trend line and structure zone) 2) 103$ - Double top and re-test of Butterfly PRZ 3) 106$ - Completion of a bearish Crab pattern. What do you think? Where's DXY next Sell Zone? Read more...
BUTTERFLY PATTERN @ FIBO CONFLUENCE ZONE
Hello guys , many of you know the rules of buttery fly pattern but i will mention it below ; Leg B= 0.786 Retracement Of XA Leg C= 0.382; 0.886 Retracement of AB Leg D= 1.272, 1.618 Extension of XA This is daily time-chart Now i believe that Leg C will reach the 0.786 or 0.886 because we are in wave 4 in a Downtrend which is a corrective way ,and to be more...
Last oil butterfly took some time to unfold, but the pattern validated and it was a nice trading camapaign. This time, we didn't test the whole PRZ, but price action seems to confirm the trend. If the first reaction after OPEC and non-OPEC meetings is to go down, I think this will take some time to balance. Targets indicated on the chart. Thanks for your comments.
OANDA:SGDJPY Safe Trades;
LOOKING FOR YET ANOTHER PLAY OFF THE FALLING SUPPORT WITH BULLISH BUTTERFLY
Bearish butterfly completion at previous significant resistance zone. Bearish inverted hammer on the daily. Fib extension and time zone confluence
Bullish Butterfly is Formed The PRZ is shown by the green rectangular area Divergence in both RSI and Stochastic indicates a possible reversal to the up side The breakout of the red trend line to the up side confirms the reversal of the down direction This trade setup is invalid below the red horizontal SL line Watch for any sign of weakness in the green...
I am short from the blue trend line touch at 1.4960 on the 4 hour chart. This is a good opportunity to add to my position or to enter a short position as price is forming a pullback on the one hour chart. Selling the break downwards seems like a good idea.