lots of potential harmoinc patterns evolving
cypher complete Will link daily chrart below
EURUSD is approaching an area of highly confluent short opportunities. I have broken the zones into 2 separate PRZ's to make the boundaries more distinct. I have a short entry at the top of the first PRZ with a SL outside PRZ2. Target placed just above the ab terminus which would coincide with .618cd. Reasoning for each PRZ is broken out below. PRZ1...
Following on the post I did recently where I first suggested the idea of a triangle forming in this pair upon the completion of a Gartley pattern (see Related Ideas: "UPDATE #2 SHORT ANALYSIS: EURUSD: Catching some pips down") that failed, the triangle idea is still valid but now there is a POTENTIAL bat pattern that is almost completed. When/if this bat gets...
EURNZD is completing a conglomerate of potential harmonic patterns to produce a highly confluent kill zone. In addition to a host of pattern completions, there is added support from a long term trendline and another strong S/R area further below price. SL is placed below the S/R area and targets placed at the .382 and .614 retracement of CD. Confluence in...
I'm taking this LONG trade because I still strongly believe that we are in a wave 2 of (5). I'm just looking for where this wave 2 MIGHT end. Do I believe it could be here? Yes, It could be. But I am well aware that the bearish nature of the price action does not bear that out. So why am I taking this trade? The breaking of that BIG long term triangle is the...
AUDCAD has achieved T2 of the bullish crab idea that I recently published (see below) and has now completed a bearish deep crab pattern. The PA has respected the 1.618 projection of xa and it is time to look for a short entry. Confluence in the PRZ: 1. Bearish Deep Crab Completion 2. Weekly Pivot 3. September, 2015 Pivot 4. .618CD (Bullish Crab Target) 5....
MSFT is consolidating after bearish price action in what appears to be a sideways combination corrective pattern. Regardless of EW count, there are multiple congruent harmonic patterns that if completed will be met with significant trendline resistance, helping to drive price down. List of confluence in PRZ is listed below. PRZ Confluence: 1. Two Bearish...
EURGBP has completed a bearish bat near significant trendline resistance. An unhit monthly pivot may drag the pair further past its X origin and toward the territory of 3 potential long opportunities.
This pair has been trading in a descending channel for the past few days and still has some more downside to go. But for now, there is a COMPLETED bullish deep crab pattern with it's PRZ down by the bottom of the channel. Within this trading channel, I have marked out its' ABCDE points and this crab is near the C point of the channel. Buying at 1.52522 would be in...
SL at 188,6% Fibo of XA leg TP at 38,2% Fibo of AD confirmed by previous structure
In my last post on this pair (see Related Ideas: " ANALYSIS: EURUSD: All Roads Lead To A Wave 3"), I identified a bullish Gartley and a bearish butterfly patterns. In this update, I have removed the bullish Gartley as I do not think it is relevant anymore although it is STILL valid. But as per my possible updated wave count, I don't see prices heading any lower to...
Yes, it's pick-your-cypher time. This pair has been on a steady upwards move for a while now and it's time for some relief in the form of a retrace. So these two cyphers may provide that relief before it resumes it's upwards march. If that isn't enough patterns to sway you to SHORT this pair, throw in a POTENTIAL bullish deep crab that ends arond the same level as...
AUDUSD is at a significant zone as the Daily candles have just wicked on to the Monthly support line. Now a trendline does not always hold or fall on a first touch. But in support of a swift reversal, we have a possible harmonic pattern completion - a 'Bullish Deep Crab,' right around the price-contact-point of the monthly trendline support. So this presents a...
SL at 188,6% Fibo of XA legs TP1 at 38,2% Fibo of Crabs CD leg confirmed by previous structures TP2 Area at around 61,8% Fibo confirmed by previous structures If the Hidden Divergence is complete we may see a continuation of this downtrend Right now the Bat Pattern is still valid It's early, markets change, but this is on my watchlist ;)
This bullish deep crab pattern is near to complete. Be on the watch for it.. When it does, I will look to open LONG positions on this pair. In addition, the RSI is now already in oversold condition and upon the crab completing, should still be so. Also, bear in mind my long-term outlook on this pair. See Related Ideas for that analysis.
UPDATE #2: Prices have now reversed and closed past my PRZ. Therefore, I have closed this trade and will now sit back and see what happens next. I have posted and alternate scenario for what I think will happen if this bearish crab were not to hold. I will now look to that scenario and see what develops after the weekend. UPDATE: the NFP did cause prices to...
A Bearish Deep Crap Could be in spe. BUT so far highly speculative. Conditions: A flush tomorrow for the 88,6 retrace of the X to A-leg (2082 handle) no more no less. This could suck in bears and create a bear trap. It has to be the 88.6 retrace... (A must) Then we have to see a hard reversal for creating a short squeeze that could propel the D leg up for a...