I don’t do any active trading on Monday’s but I do make my way around my portfolio to see if there are any advanced patterns that need orders set for the day. Here on the EURUSD we have a potential bullish Gartley pattern coming back into a structure zone that I would like for a buying opportunity whether it was a pattern or not. Trading Recap Week #40 “the...
Lot’s on my trading radar today gang. In fact out of the 11 pairs in my trading portfolio, I’m either involved or have pending orders on 7 of them. (EURUSD, EURJPY, GBPUSD, AUDUSD, GBPJPY, NZDUSD, EURAUD). The chart you’re looking at displays a potential bullish Gartley pattern on the EURUSD. This pair has been in consolidation as of late which has been a...
Looking to get long for Bat Pattern completion around 0.9686's. Putting stops below X. Targets 1 and 2 at .382 and .618 Fibs.
Hey traders, there are more than a few opportunities setting up on the EURUSD, this one is still a ways away from me taking it serious, but believe it or not, it's the smallest of the potential opportunities. (The bigger potential patterns are on the 4 hour and Daily charts) What we have here is a potential bearish pat pattern which would complete at 1.1418. Now...
Shared this idea with you yesterday during my Live Trading Room hours, so i didn't have a chance to write an explanation of what I was looking at. What we had here (in orange) was a bearish Cypher pattern completion. The "D" leg of this Bearish Cypher also happens to be the "C" leg of a potential Bullish Cypher that would complete down at $1,110.97. I got the...
Read text written in the chart.
Earlier in the week I shared with you my idea for a potential bullish Cypher pattern here on the USDJPY and as you can see price action has yet to reach the “D” completion point. In Tuesday’s Live Trading Room session we were able to capture some profit on a long entry as the market retested the Cypher “B” leg and now price action looks to be retesting that zone...
It's a busy Monday in the Markets as we're seeing a lot of corrections from last week's major news event. I've got a lot on my radar including potential longs on GBPJPY & AUDUSD. As well as a few potential shorts on GBPJPY & USDJPY. In fact the USDJPY may be filled already on a bearish Cypher . Speaking of Cyphers we have a potential bullish Cypher here on the...
Two trades on my radar this morning a potential bullish gartley pattern on the USDJPY & a potential bullish bat pattern shown here on the USDCAD. I wanted to share this one with you because it does a better job of following up on this week’s theme of combining patterns with the overall ebbs & flows of price action. If you remember, yesterday’s video covered that...
GE has completed a bearish crab pattern in the optimal sell zone for a short Wolfe Wave trade. There is significant bearish divergence in addition to an overbought RSI which add to the bias toward the short side. Two missed weekly pivots sit below price as well, which may help drag the price down. Stop loss can be placed above a significant S/R level while...
Last week we put this potential bearish Cypher pattern (left) on our radar, but because the risk was so large, it wasn’t a trade that I was able to take. Whenever this happens instead of calling it a day and deleting my charts, I always look for secondary reasons to enter. After blowing past the “D” completion the AUDCAD has found resistance at our “X” structure...
On FX:USDCAD , there is a great opportunity for harmonic traders. Risk reward is great, structure great. Price found a support level at 1.3227, and it is more likely that it will act as support again and bounce the price. There is a potential Bat pattern, which adds probability of this set up. Harmonic pattern gives us set-up to manage SL, TP, and Entry. T1 -...
AUDCAD has achieved T2 of the bullish crab idea that I recently published (see below) and has now completed a bearish deep crab pattern. The PA has respected the 1.618 projection of xa and it is time to look for a short entry. Confluence in the PRZ: 1. Bearish Deep Crab Completion 2. Weekly Pivot 3. September, 2015 Pivot 4. .618CD (Bullish Crab Target) 5....
EURGBP has completed a bearish bat near significant trendline resistance. An unhit monthly pivot may drag the pair further past its X origin and toward the territory of 3 potential long opportunities.
Potential Bullish Gartley pattern here on the EURUSD 1 hour chart completing at 1.1206. The recent consolidation on the Euro has been good for pattern traders allowing us to profit on the Gartley/Cypher from earlier in the week, hopefully this Gartley can deliver us the same. (tradeempowered.com) One thing about this particular pattern that you may want to keep...
Short & simple today (no pun intended). We have a potential bearish Gartley pattern setting up on a market that has been in a strong bearish trend. Perfect chance for those of you who aren’t trend continuation traders, to hop on a TCT type of move using advanced patterns. With Jason Stapleton out of town today, I’ll be running this morning War Room meeting,...
Looking for potential Cypher Pattern completion at 1.13387. Putting stops 20 pips above X at 1.13827. Target 1 & 2 at .382 & .618 Fibonachi retracement. 2.59 risk/reward at T2. Rolling stops to break even if we hit T1. Don’t forget to add a little cushion for the spread. Plan your trade and trade your plan.