GBPCAD has completed a bullish bat on the 15m TF. Zooming out to 1HR we can observe a double bottom forming at the PRZ. Two longer-term trendlines provide added support at this level. The daily TL also forms a potential bottom barrier of a triangle pattern where the first bottom serves as touch four. Targets are placed at structure high and 1.272/1.618...
We now have a nice little Inverse S/H/S pattern in place and yesterday we saw a Cup with handle being triggered for a rally to the calculated target of 1,150. From an Elliott Wave point of view, an large ending diagonal most likely terminated with the test of 1,046 and if this count proves correct, then the target becomes the origin of the ending diagonal, which...
Here I found a bat pattern developed and completed in the negative deviation range of the AUD NZD chart. my strategy suggests that the market will rally up into positive deviation before correcting for trend continuation. I have place my entry at point B to Verify reversal after point D I have placed my Stop at point X for the break below close below bust !...
Here we see a butterfly pattern completed on the Eur Aud 30 min chart. We know that butterfly patterns often rally to the 1.618 extension of the BC leg, so that is where our limit is at. Our entry is at point B and our stop is at point D, giving us a 1.39 risk to reward. I believe the rally will take place over the next few hours. Thanks for checking us out,...
Here I see a price action trade along the linear regression line with standard deviation set at 2 and -2. I also believe this may be an Elliot wave cycle. If i remember correctly, the third wave, should be about the same length as the first wave, so i have placed my limit at the 1.618 extension of the second wave, just to be safe (remember, still learning price...
Here we see a completed Cypher pattern on the Canada japan charts. The pattern suggest a continuation in downtrend and appears to be respecting the linear regression. I believe that the market will rally down into the 1.618 extension of the BC leg before consolidating again, or reversing. I have placed my entry at current market price, my stop is at the...
A Gtartley Pattern completion with a double bottom and now 2618 opportunity on the lower time frame. I wouldn't trade it was a gartley and attempt to use 2618 stops, but you can certainly look to protect profit or shoot for extended targets based off of the higher timeframe pattern including the potential bearish cypher that still exists
This morning I posted a trade idea titled "3rd Times The Charm" In this idea I mentioned that i had previously taken 2 losers on this particular currency pair the day before and was ready to reload once again for another shot at getting short. Well that trade payed off as our double bottom/ Bat pattern (LTF) rolled over without much pain this morning and then even...
I would expect the high to be in the region of 112 if the uptrend continues and we break through the 2012 level of 100.72. The MT AutoFib Indicator and MTHorizontal Levels Indicator show levels of horizontal support and resistance in the current market structure. More details of the indicators used here are available from Chart > Indicators > MarketPlace > ...