The PA reached 1.019 and ret. to 23.6. Twinser rejection and PA is back @1.017. The RBA decision will be crucial to the direction, cont. or perhaps new highs
I posted this several weeks ago when the market was trading around 1.3600 We hit the long entry a couple days ago.
I've tried a couple times to buy up the EURUSD and it's been very weak. That happens frequently when you're picking tops and bottoms. The benefit is that you tend to have small losses.
There is a rather wide reversal zone here as outlined in...
It seems EURGBP is determined to drop with all the bearish harmonics showing up on the chart.
As previously posted, a bearish Gartley was filled along with the linked bearish Cypher and now, a bearish Crab.
The overlapping of bearish patterns may suggest that the harmonics may turn out to be self fulfilling this time and also backing the major down trend.
Look...
Rarely do I see these patterns, let alone trade them.
The Euro has broken some major support levels and trendlines. Whether it's a false break or not, we'll have to wait and see.
Judging from the tick volume I use in Metatrader, there hasn't been any indication of large amounts of demand entering the market, which is why I'm not too excited about this pattern....
Looking at H4 a possible H/S pattern formation which could break wedge bearish (wedge lower boundary TL acts as neck line). Currently in play the small bearish bat. However, in case of a bullish wedge breakout, 2 bearish patterns awaiting at 709 (butterfly) and at 7127 (crab)
A bearish crab (blue) has formed.. A double top at the 1.618 ext may confirm this trade. If not.. there's another bearish harmonic pattern on the daily chart. The bat pattern (yellow). Let's see if the crab pattern will override the Bat and take price down
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For inquires of education,...
Bullish Bat pattern (orange) has formed and i'm looking for a bounce at the .886 retracement from X to A leg. Price is currently at good structure and historical support as well there is a confluence between the .886 retracement and 2.24 extension which gives highly confirmation of this pattern playing out. This is only a countertrend trade. EURAUD have been...
There is a nice confluence area for a Bat and Crab pattern to complete, so would be great to sell around 0.9385 and place two targets at key support levels. Stops could be 5 to 10 pips above Crab's D point or above Bat's X point, depending on your risk and money management.
Good luck!
Despite of Silver failing to create a new high but turning down @19.74 this might be a setup for upside move. 4 possible patterns (cypher, shark, crab, and inverted H/S) showing a very likely bullish move
