Chart Patterns and Harmonic Patterns using just ONE indicator!
This is a automatic scanner for well know patterns like Head and Shoulder to get started. I'm planning to add more patterns in the near future. It works as follows:
1. Is going to plot the pattern on the chart, lines in blue
2. Is going to show you when the pattern has finished to form, triangles and...
Remember last week we did spoke about this bearish crab pattern? You can refer to the link below. At this moment the trade has setup and I'm waiting for a retest on the profit trendline of the crab pattern for an additional counter-trend shorting opportunity.
Rising Wedge formation + false break at the 5th point.
This is in conjunction with a MACD Divergence.
On a 4 hour chart a shooting star reversal candle is present.
Short at 0.77017
Stop Loss at 0.7036
Take profit at support/resistance along the way.
This trade idea supports my larger active trade shorting the NZDUSD based on a harmonic pattern -...