$NZDUSD is bouncing of its daily uptrend line today. If it'll close back up above the Fast SMA line, $NZDUSD may continue its rally to re-test the top of the trading range - 0.685-0.69 and even make it to 0.7 to complete a bearish AB=CD pattern and a Butterfly. Stop loss should be at least below the daily 200 days MA Tomer, The MarketZone.net Follow me on...
Techincal Analysis -Retrace between 50 and 61.8% of previous leg down -161.8% of previous wave of this correction -Bearish Butterfly completed -Bearish Divergence -Under downtrend line -Previous SR
CADJPY broke and closed above a big Resistance Level on Friday. It's also forming a Bearish Bat Pattern on the 4hr chart which completes @ 86.00 Level I'm looking for it to come back down to "old resistance" now Support and looking for a buying opportunity off that Level. Stops - 1 ATR below last swing low (Yellow Box) Target #1 - Previous Highs Target #2 -...
Hey Traders, Although the markets have been Directional Lately, AUD/USD is giving us an opportunity to get in short at this Advanced Bat Pattern. Stops Above X and Targets at the 38.2 and 61.8. If we continue to the Downside, It could set up an opportunity for us to get in long with a good R/R if market continues to go higher, we will wait for a pull back and see...
Hello Trading View, Here on the EurGBP Weekly TF we have a unique Bearish Bat that has completed. Price action has shown all necessary reversals at the required ratios, and price in the PRZ has shown signs of confirmation of trend change. Heres why this pattern is unique. VOLUME. The volume at point D was EXTREMELEY HIGH!!!!!! See Green arrow indicating said...
Hello Trading View, Here on GBPUSD we see bearish momentum, which stalled and bounced off an important key level off the Monthly TF. The rejection of the key monthly support tell me that a trend change is in order. We have the completion of the Bullish Bat 5-Point pattern, the terminal price bar has tested the majority of the PRZ and sharply pulled away, which is...
Hello Trading View, Here on the EuroYen, we are seeing a reversal of a bearish trend . Price has made higher highs, and higher lows, confirming my directional bias. Topside projection of the ABCD pattern is the 2.618 expansion of the BC leg, due to the B retracement of 0.382 of the impulse leg. Typically you are supposed to trade this from the topside...
GBPJPY is in a downtrend. I'm looking to sell Rallies on this pair. Price has made it back to my "Reversal Zone" and now has Double Topped with Bearish RSI Divergence. We also have a an ABCD pattern completing right at the Double Top. I just sold at the Double Top and looking for a retest of Previous Lows. Stops - 1 ATR above Double Top Target #1 - Retest of...
Hello Trading View, Here I have a potential Gartley forming. This is a special pattern, we have a 0.618 retracement point B AND C. This mean we have the potential for a perfect Gartley pattern. Confluence with the perfect AB=CD is forming and completing as we speak. This pattern specifically provides a solid solid solid basis for entry. Be sure to monitor price...
Hello Trading View! I have another Harmonic 5 Point Price Pattern here for you guys. Bullish Bat. Targets are 0.382 / 0.618 of CD Confluence with the extended ABCD pattern, 1.618 expansion to be specific. These patterns always offer an excellent RR. Trade Safe, trade smart. -K
Here we have a Bearish Bat on NZDUSD Price has reacted and shown rejection at the PRZ, and currently showing signs of a solid bearish trend. Additional confluence from the ABCD pattern. We have a 0.618 retracement of C, with D completing between the 1.618 - 2.618 levels. TP1, and TP2 are relative to the 0.382 / 0.618 retracements of CD respectively. Trade safe,...
Looking to short EURJPY around the 129.00 even handle. Market is Bearish, so I'm looking to sell the rallies. Entry - I look to short somewhere between the 61.8% and 78.6% Fib Retracement. I move down a Time Frame and look for a Reversal Pattern via Candlesticks. Right now we have an ABCD Pattern completing in that area. I'll be looking for other things such as:...