Here we have a very solid Gartley pattern form,ed and completed in both the negative deviation of the last 100 and 200 moves. Like with all harmonic patterns i have placed my entry and stops as follows :
Limit: 1.618 extension of BC , which meets at where both the 200 move regression and the 100 move positive deviation cross
Entry at point B
Stop at point...
Here we see a plain old bearish bat pattern on the euro yen charts.
It is likely that the market will quickly rally down to the 1.618 extension of the BC leg, i have it forecast at 1.5 hours.
I placed my stop at the point X
My entry at point B
And my limit at the 1.618 extension of the BC leg
Thanks for checking in, come back and see if it completes.
EURUSD, in H4 timeframe, did a new low after double tops structure. Bullish pressure seems to be trying to pull it back and a good level to place a Short is in 1.1345, where there's resistance by structure and by Fibonacci Retracement.
Here i see a Cypher Pattern on the NZD/JPY chart. And what i noticed, if you zoom out; on the daily chart there appears to be a crab pattern that has rallied as if it going to complete as suggested, but this Cypher pattern has me thinking that the market will more likely continue in downtrend and break the structure of the crab pattern therefore ruining that...
Looking for the GBPNZD, the situation is very similar to GBPAUD. A great pattern is getting formed and it's possible to see a great spot to get LONG.
Trend is up and there are good odds having long in this strategical spot, as well a good risk/reward.
This is a WEEKLY chart of FB. You may need to look at the daily chart to see some of the things I am talking about.
If you are a bear, you probably pondered this question all weekend. Last week was not such a great week for Facebook. And Friday was not a good day for Facebook. You had to be wondering if there would be continuation to the downside as this week...
This is continuation of my mini series about "When not to draw XABCD lines" It should be named part 2.
"Picture is worth thousand words"
Not any picture, if there is a picture about how XABCD works then its not worth so much. Almost every book will tell you that it works, but almost none will tell you when it doesn't work.
For me I like to just deduce, not...