This week I have the Cad on my watchlist. This pair in particular is interesting as we have a 6 month bearish trend that has came to and end and began to consolidate. Within the consolidation we have a bearish Butterfly pattern. Price is overobught and also showing bearish divergence. I am taking a bearish entry as the Daily chart i expect will close with a...
This week I am looking at a bullish Gartley on the GBPNZD. Price already reached the D level and has gone slightly past our PRZ- however, the pattern is still valid in my eyes until it reaches the X level. In terms of structure you can see the pattern os solid. The end of the C:D wave has brought some strong bullish divergence on the RSI, and if you look closely...
Along with the long pattern on CHF/JPY, we have another bullish setup on the USD/JPY. I am currently looking at a bullish shark that has just touched the entry zone (between 0.886 and 1.3). That said, I will not look to enter until price drops lower to the lower entry level. This evening, the Japanese Trade Balance came in at 45 Billion below consensus. Now I am...
Looking at this pair we have a bullish wedge (*See Below*). Inside the wedge we have a bullish bat pattern with an exact 50% B point. The technical analysis looks good on this pair- the pattern is meeting the wedge at a level where there has been support in recent weeks also. Looking ahead this week we have the trade balance to be released for the Swiss frank,...
Here we have a Cypher pattern on the EUR/NZD 1hr chart. Most NZD pairs are currently at a level of string support, and with my expected weakening euro, this pair should dip. (Albeit weak) daily support has been broken and I can see this Cypher formation taking price lower still. As always with this pater, we will have 1:2 risk and our first TP level at 38.2%....
Expecting in a drop in the Euro across the board this week, just going through the process of picking the best set ups. As per usual, I may not take this trade depending on the candlesticks but I will keep an eye on the progression as price approaches the PRZ. This bearish Gartley (on the 1 hour chart) comes as price recently reached its highest level since 2015....
Hi Guys, i've been looking mostly at dollar pairs this weekend and I'm expecting the beginning of short-term volatility in some places. The Euro-USD has soared to new highs in recent weeks but is now in a position where it is looking for a new support level on the daily frame. The daily chart has presented a bearish wedge formation, while price has found some...
CADJPY has began to pivot around the neckline of a head and shoulders on the daily/weekly chart. Price found support at this level on the 4 hour chart, made a new low and is now retesting the previous los as resistance. Recent dips and rallies have been urgent and direct in recent weeks, however price dropping below the 4HR 200EMA at this neckline gives a sign...
Here we have a bearish pattern forming within a channel on the 4 hour chart. The trend-line was temporarily broken, which may signal a an area of consolidation. On top of this, RSI is showing as overbought on the 4hour and 1hour charts along with bearish divergence. I will be watching the candles on both time frames before confirming my entry! Butterfly ratios...
Good morning guys. I have looked at a few of the AUD pairs and found a bullish shark on the AUD/CAD at a strong level of support (will be published later). In addition, I have now came across this Gartley pattern, also hovering around a strong support/resistance zone. I will be looking for bullish sentiment in the coming week or so through fundamental releases...
Above we can see the trend line for a movement within bearish weekly channel on Silver. Price has hit the trend line and I expect will drop to our D point once support is broken during the trend. Adding confluence to this movement is the bearish bam theory- the harmonic movement will push price down should the daily candle break below this level! Risk is minimum...
Above you can see a very only-shaped butterfly ; price isn't exactly flowing from each co-ordinate to the next but the ratios fit the bill, so it's a butterfly . The reason I am at least considering taking this trade is the level of support- you can see in the update below that price is at a key level of weekly support/resistance . Furthermore, the daily trend...
Good morning, This week I am aiming to trade more on the 1 hour charts- mainly to fill in the time in between larger price fluctuations; I will be looking for movements that suit the larger time frame! On the 4 hr chart we have a long crab pattern but price still has some way to go until it meets the D point. Above you can see a short position on the 1 hour, that...
Hello, Traders! I hope everyone is having a great weekend! I'm VERY excited to share and keep an eye on this set up with you guys. Today, we are looking at a bearish 5-0 pattern on the 4H chart with the CAD/CHF. Price seems to have started to reverse between 1.13-1.618 at B point. Lets look for price to break the current trend when the markets open back up to...
We have another Bullish Crab, Traders! Spotted this just now on the 4H chart. Keep It Super Simple (K.I.S.S.) Look for price to hit D point, look for reversal candles and enter the trade. I can't stress this enough... MAINTAIN PROPER ACCOUNT MANAGEMENT: 1-2% risk per trade Risk:Reward - 1:5 The measurements for a valid crab pattern are detailed below. B:...
Hello, Traders! Today, we have tremendous confluence on the 1D AUD/USD chart with a Bullish Crab and Reverse Head and Shoulders pattern . As price is making its way down to touch the neckline of the Head & Shoulders pattern, a Bullish Crab pattern is shown with D point right at the same reversal zone, while meeting a historically strong rising...
Hi guys. This is not a pattern I look at often, however, today I'm looking at a long position at the end of a harmonic 5-0 completion! Price has hit support on the weekly time frame and should find some security at this level. EUR GBP is not a pair i've wanted to trade as of late as per the obvious political sentiment, then again, I don't trade the 5-0 that often...
Shark week continues- once again on a GBP pair. I am expecting the pound to drop across the market in the next couple of weeks! This bearish shark is reaching completion at a key resistance zone on this pair, as are most of the GBP pairs at this time. GBP has seen some growth over the past couple of weeks, so I am expecting a sell off to balance out supply/demand....