Hey Traders! Here is an update on USDJPY. Another bearish actionary wave indicates a double zig-zag correction. Pinbar resistance presents an optimal entry with a tight R/R. Unless 101.443 is broken I will be long toward a long wave-3 if/when this short follows through to completion. I will update as waves complete. Happy Trading!
An excellent confluence of the two patterns that occur simultaneously in GBPJPY Short with two trades one for each pattern and stops above X of the Cypher. Targets you decide whats best for this one...
AUDJPY has made a strong push up but is running into a bit of a confluence area. Might be a good time for a short as price runs into heavy resistance, 61.8 retracement, and a major bearish trendline.
Hey traders, potential expanding triangle here to complete potential Gartley pattern and continue the correction. The stop is tight, any drop below "e" could mean a deeper correction. Happy Trading!
Expecting a lower move (adding to my current position due to the MA + Price Action rejection 1:3.35 risk/reward
The double top at the top of the chart has in fact finally reversed price as bears took control of the market The neckline has been broken Will now wait to see a retest of previous structure levels in the potential reversal zone (green rectangle) Look at price action for shorting opportunities here The 618 retracement would be most ideal, but it was a pretty...
AB=CD with Fibonacci confluence Also a Gartley completion at an 886 Fib level (green line)
USDJPY: Selling at todays Pivot near 50% and 38.2% Fib level
Hi Traders, Hope you have had a good week of trading so far. Here is a bearish bat pattern setup on USDJPY, H1 timeframe. Entry: 100.800 Stop loss: 101.050 1st Target: 100.500 2nd Target: 100.300 Remember to leave a like if you found this idea useful. It's always appreciated. Luke
We are in this position because of the break above a previous structure and retracement back into a resistance come support zone. The pinbar candle signalled the entry, We have a 2360 fib level from a previous swing and we are trading in the short term trend direction. Probability suggests we will lose this trade but the risk reward makes it worthwhile.
Good Morning Traders! AUDNZD has completed a beautiful Gartley pattern on the 4H chart. The PRZ is tight, with confluence between AB=CD, .786XA and 1.13BC extension. The weekly pivot is precisely confluent with the .382CD retracement and provides a great target. It is smart to put stops beyond XA on these patterns. Happy Trading!
Hello traders As we see the eu rally higher and higher, we might take sometime to figure potential retracements before we buy again. I kept the daily funnel from previous analysis and in conjunction with my wave count eu is stepping back to 1.12000 before soaring again Point 4 is the safest bet to go long again. Trade safe, trade well.
EURUSD may move a little more upside but im not interested in any buys right now because this is a pattern that'll break to the downside 90% of the times, and we have divergence confirming the sell so I'll be looking to sell the breakout after confirmation on lower timeframes.Will be holding until 1.1220-40 area if it gets there and I'll put it in breakeven in...
Hi Traders, Doing my pre-week analysis and found this nice looking setup. There is a Bullish Cypher and a Bullish Gartley completing at the same level at 1.29850. Keep in mind that the safest place for a stop on this setup is underneath the post-Brexit spike low on the far left of the chart. Depending on your risk threshold, this may or may not be a valid trading...
Hey Traders! NZDUSD has entered the potential reversal zone of two confluent harmonic patterns. This zone is supported by additional long-term trend line support to add to bullish bias. Stops can be placed below Cypher point X with targets at .382, .500, and .618 CD fib retracements. Happy trading!
EURGBP has completed a bearish Wolfe Wave setup and may be ready to short toward the target line. Triangle is complete on the APRR oscillator as well. As always, it's a good idea to wait for confirmation before placing a trade. Close below the 1-3 extension would be a good indicator of continued bearish pressure in this case, with a tight stop above recent...
NZDUSD: Buying at demand level also a support on Daily TF. Level is at fibonacci confluence level (76.4% and 50% level)
Hi Traders, Hope you have been having a better trading week than I have. Here's a bearish bat pattern setup on EURJPY, with D point completion at 114.520. Entry: 114.110 Stop: 114.920 Target 1: 113.700 Target 2: 113.180 Have a great weekend all! And remember to leave me a like if you find this idea useful. Luke