GBPJPY Update #4 - The H1 Bearish Deep Crab Type-II reversal on the HOP is also a beautiful Weekly Butterfly. If you didn’t enter on the recent H1 Bearish Deep Crab @harmonicpattern you would want to wait for price to close below 154.435 before entering a bearish entry
Hi guys , how you doing ?
I'm glad of sharing another idea here with you .
So since September 3 , dollar has been in an up trend move and it was bullish , but now it's in an important long term key zone and also psychologically it's in high level .
except they key zone which is also in 0.382 Retracement Fibonnaci , there's a harmonic pattern (BAT) so I...
Hi everyone , how you doing ?
so as we can see , there's a bearish butterfly on gbpusd at 1h
and the price is also in a resistance zone .
after some candlestick confirmations we can probably enter a short position .
!!! today there is an economic report about USD (PPI) , so the market might be a little risky , then don't forget about stop loss .
Time Frame: 4H
We are looking for a breakout opportunity . Price is congested in one place and we have a positive expectation to go further down y respecting the previous trend.
I have been covering M_M since 750 levels, and it is still looks positive on all the time frames.
There is a probability of Bat Pattern on the Daily Chart, and sustaining 830-840 levels, it would most likely be moving towards 900-930 levels in the coming trading sessions
What are harmonic patterns?
Harmonic patterns are chart patterns that form part of a trading strategy – and they can help to spot pricing trends by predicting future market movements. They create geometric price patterns by using Fibonacci numbers to identify potential price changes or trend reversals.
Harmonic price patterns are precise, requiring the pattern...