Hello Traders, Hope everyone had a profitable week. Here is something to start your next week. I have spotted Bullish Cypher Pattern. Cypher patterns provide little less risk/reward compared to other harmonic patterns but the same time, it has provided me with more winners than other harmonic patterns. Trade: Entry: 0.6992 Stop: 0.6972 Target1:...
Bearish Cypher set-up on NZDCAD. Enter short on completion of the pattern. Thank you.
This is a new idea but relates to my earlier idea. Patience! I have drawn a a classic harmonic AB=CD pattern. I quote ( paraphrase ) from Carney's book, "....it's hard to make yourself believe the stock will reverse because the sell off has been dramatic and the stock appears weak....but you must sell at D...not believing this initially cost me a lot of money" ...
I'm still new to drawing those kind of patterns, so correct me if I'm wrong, thanks in advance :) But yeah that could be a scenario.
Just triggered off of a bear crab type 2 reaction @ 1.2239 in the analysis room based on the 5-minute RSI and HSI triggers.
Pretty good set up forming here. The Precise B pt ratio has hit , C is within spec. Pattern starts at convergence with a .382 level on 1d chart and the completeion of a AB=CD inside this retracement. Pattern also starts with a morning star candle reversal patter at this same point. That's a lot of good things to start the pattern. If pattern completes it will...
Awaiting confirmation on the 5m chart for this bullish shark in the harmonic trading room.
Watch for price action around 115.05. It may reverse there, if so, keep in mind it may fill the crab patter, so manage your stop wisely. Alternate setup: sell the 1h trendline. TP1: 114.75 TP2: 114.3 TP3: 114.10 Trade responsibly.
Hello Traders, I have observed a potential bullish bat pattern on CADCHF 4 hours chart. Here, PRZ is made of 0.886XA, 1.27AB=CD, and 1.618BC Fibonacci ratio confluence. This potential trade has a risk/reward ratio of 1:.1.4 for Target-1 and 1:2.2 for Target-2. Happy Trading!!!
Hello Traders, We have a potential bullish bat pattern setting up on GBPAUD hourly chart. If pattern completes, we expect price to resist in PRZ and set us up for long opportunity. Here, PRZ is made of 1.27AB=CD, 2BC and 0.886XA Fibonacci ratio confluence. This potential trade setup has a risk/reward ratio of 1:1.4 for target1 and 1:2.2 for target2. Happy Trading!!!
The Shark pattern has the following ratios. AB leg extends OX leg between 113% – 161.8% BC leg extends beyond O by 113% of the OX leg BC leg is also an extension of AX by 161.8% – 224% Unlike other harmonic patterns, the trades are entered as follows: Entry is at 88.6% of OX leg with stops coming in at point C Targets can be 61.8% of BC Once the price point at...
Hello Traders, It has been observed that price is making bullish AB=CD pattern. I am expecting price to resist in potential reversal zone and reverse. Here, PRZ is made of AB=CD and 2.618BC Fibonacci ratio confluence. This potential trade has a risk/reward ratio of 1:1.4 for Target-1 and 1:2.3 for Target-2. Happy Trading!!!
Hello Traders, I have observed potential bullish gartley on USDCHF 4 hours chart. I am expecting price to resist in potential reversal zone and reverse. Here, PRZ is made of 0.786XA, 1.27AB, 2BC, and AB=CD Fibonacci ratio confluence. This potential trade has a risk/reward ratio of 1:1 for Target-1 and 1:1.7 for Target-2. Happy Trading!!!
Entry Point at 139.031 for Bat Pattern, SL @ 137.591, TP1 @ 140.471 and TP2 @141.351 Entry Point at 139.402 for Gartley Pattern, SL@ 138.074, TP1@ 140.73 and TP2 @141.52
Entry at 112.399 for Cypher, SL @ 111.427, TP1 @113.371 and TP2 @ 113.991. Note, if you draw at 88.6% fib D point as Shark, the entry point will be 111.991 Which confluences with Bat Pattern mentioned below. Entry at 111.984 for Bat, SL @ 110.87, TP1 @ 113.098 and TP2 @ 113.782 Note, if you draw at 78.6% fib D poit as Gartley, entry price will be 112.324. Which...
Hello Traders, It seems like, it's a correction time for COMCAST. We have observed Bearish AB=CD pattern on weekly chart. The PRZ is hihglighted on the chart and it is made of AB=CD and 2BC Fibonacci ext. We can clearly see that price is resting in this area and we may see reversal from here. On lower time frame, price has made a double-top with RSI divergence...
Hello Traders, I have spotted Bullish Gartley Pattern on AUDCAD hourly chart. Here, PRZ is made of 0.786XA, 1.27AB and AB=CD Fibonacci ratio confluence. This potential trade has a risk/reward ratio of 1:1 for Target-1 and 1:1.6 for Target-2. Happy Trading!!!
Will follow price action closely. There is ratio confluence of a 1.618 extension and a 0.886 retracement, setting the conditions for a bat pattern. Stops are going 15 pips above X, with profit targets at the 0.382 retracement of the A to D move. Also note that the potential reversal area meets with a structure area of past significance.