USDCAD completed the Bat pattern and fell - see link to related idea below
It has just broke below the strong support level of 1.3280 that was holding it up for close to a month. Note that the RSI has gone down way below the oversold zone. Hinting that there should be some correction in the near horizon.
Trade Execution
I would want to look to a continuation...
Looks like EURUSD has a clear range to move in from 1.05 to 1.07
Pattern Identification
I see a bearish Bat pattern completing in the smaller H1 time frame
Will put this chart up in more details
Trade execution
If price rejects the PRZ, can look to take the short trade
I do not see any Harmonic Pattern on this pair this moment.
However I see that this pair is at resistance.
Trade Execution
Taking this short trade based on support & resistance and the good risk to reward potential
Stops at 1.2620
Target at 1.2368
From my last post on EURJPY, price just went through the support zone. Now the pair is hinting more downside. Giving me a bearish bias for now.
Pattern Identification
I see a Bullish Bat pattern completing at 113.90. This could potentially go down further to complete the Harmonic Pattern, before the bulls will be interested to buy.
2 days ago, the RSI was...
EURJPY seems to be support at this level 116.00
There does not seem like a clear direction for this pair at this point of time.
Taking the queue from EURUSD (bearish bias), I would think that there could be more downside for this pair.
Trade execution
Let the charts show us if 116.00 support can hold.
I have a neutral bias for this pair
Spotted this bat pattern slightly late as it has started to react.
PRZ seems like a good H1 resistance zone judging from consolidations along the zone
Shorted at 1.2482 where price is still in PRZ
RSI has shown bearish divergence
R:R at 1.2 (TP1) and 2.1 (TP2)
CADJPY has been supported by the 82.00 level since the beginning of the month of April.
The RSI is showing a bullish divergence on the Daily chart, indicating that the last down move is exhausted and there could be some potential for it to go higher
Trade Execution
A safe entry would be for the price to break above the downtrend channel, let it come back to...
NZDJPY has been in a strong down trend since the end of January.
Similar to the AUDJPY
Trade execution
I would want to take a with the trend trade, as in to go short.
Price just bounced off the bottom of the channel, I would look to take the trade at the top of the channel and the horizontal resistance at around the 76.90/77.15 levels
AUDJPY seems to be in a clear downtrend channel. No Harmonic Pattern at this moment
Trade execution
I have a bearish bias as it is in the down trend channel. Will look for a retracement up to a resistance level to take a short, trend continuation trade.
Horizontal resistance 83.00/15
Channel resistance 83.50/70
I am biased towards the downside. However there is no reason to take a trade right this moment
I cannot spot any Harmonic Pattern on this pair now.
RSI showing oversold, indicating to us that there is high probability of a bounce up to a resistance level
Trade Execution
I would look to go short with the trend if price comes back up to test the 110.00 level
The...
Terminal bar has formed for the bat pattern
RSI is at overbought level, waiting for bearish divergence
R:R at 1.5 (TP1) and 2.5 (TP2)
I have been down on a few trades yesterday as I neglected economic news.
Some EUR CPI news in 1 hour, I'll wait till after the news are released before considering a trade.
I only saw this bullish Bat pattern now. Price also break above the downtrend channel
RSI moving up but still has not reached the overbought levels.
Trade execution
I would look to go long on an pull back to the channel, resistance turned support trendline. Will have to be patient to wait for the pull back
AUDUSD formed a bullish deep Gartley pattern but price just went through the PRZ as if it didn't exist, that was a warning sign not to take the trade.
Market Structures
Price went below market support, giving the bears confidence and then yesterday bounce right above it, the bulls are winning again.
RSI going overbought, I am hoping for some pull back
Trade...
AUDUSD completed the bearish Shark pattern and was moving down since the 21st March.
Now it is time for the move up ?
Pattern Identification
Bullish Deep Gartley pattern completed at 0.7520
Trade execution
I like the current two pin bars to take a long trade
NOTE : Trade with caution, NFP this evening which will affect the USD without a doubt
Hi guys,
today i want to bring an harmonic pattern to you. It's a Gartley pattern and its completion will be around 0,84890.
Remeber to put your stop loss below X, targets at the 382 and 618 retracement of AD leg.
If you have any question, feel free to comment below.
Hi guys,
today i want to bring an harmonic pattern to you. It's a Gartley pattern and its completion will be around 0,84890.
Remeber to put your stop loss below X, targets at the 382 and 618 retracement of AD leg.
If you have any question, feel free to comment below.
Market opens tomorrow morning, I'll be waiting for this bat pattern to complete.
RSI might be dropping to oversold level
Slightly risky short term trade, R:R at 1.1 (TP1) and 1.8 (TP2), remember to adjust lot size according to your risk appetite.
Pattern spotted on H1 chart, TP in terms of pips is much smaller.
I will update if pattern completes.
A couple of short ideas for GBP pairs next week, including GBPCHF.
Note that pattern has already completed and reacted
However, price went back and closed slightly above PRZ
MIGHT be a retest for this bat pattern if price shows signs of reversal
R:R at 1.4 (TP1) and 2.4 (TP2)
Will find entry point based on H4 chart and candle type
