Looking at the Cable on the H4 time frame we see price trending to the upside. The daily time frame Friday candle close was a bullish Kumo breakout with a strong bull candle breaking above the Kumo. The daily breakout was invalid as our Kumo future was still dark which represents a bearish bias still in affect. The daily breakout aligns both the daily and the H4...
In my trading course (which I would highly recommend) we were talking about advanced patterns today, so I went out on the chart and tried to find and recognize some. My first butterfly patterns I discovered on the GBPUSD hourly and 4 hr chart. I drew it in on the 4h chart because it's just less messy. What we have here is a butterfly pattern where the 1.272 fib...
Hello again guys, I'm here once more with a trade idea about a nice looking pair, CADCHF. As you can see from my chart the Head and Shoulder pattern is completed and the neckline is broken. I've also included my elliott wave counts and my targets. The targets are based on Fibonacci Retracements and Projections combined with S/R. (If you don't believe in...
After the first short on ABCD to breakout line, AN rallied to the 161.8 & 141.2 fib. ext. confluence (overlap) for another short, perhaps back to ABCD completion. The bearish crab is still possible @1073.