NZDUSD has entered the PRZ of two bullish harmonic patterns. The PRZ is supported by two weekly trendlines and a series of missed pivots sit above price which may help add to bullish bias as well. Divergence can be observed on both MACD and RSI oscillators, in addition to an oversold RSI. Entry is placed at the base of the PRZ with SL below the second weekly...
EURGBP has entered the PRZ of a bearish crab. Long-term trendline resistance may add to the probability of reversal in this area. MACD has printed bearish divergence as well as RSI being overbought to add to bearish bias. Entry is placed at 1.618XA with SL at 1.786XA and target at .382CD. Bearish Confluence: Bearish Crab Long-term trendline resistance ...
MITK has completed a bullish bat in a with a PRZ that is confluent with support from the 100 day exponential moving average. To add to bullish bias, 2 missed weekly pivots sit above price. Entry is placed at the bottom of the PRZ with target at the missed weekly pivot from 12/14. Confluence in the PRZ: Bullish bat 2AB=CD 2.272BC Projection EMA100...
USDCAD is nearing the completion of a bearish Gartley pattern. The PRZ falls inside of a significant S/R zone, adding to the probability of a reversal at those levels. With a potential upcoming rebound in oil this could provide a nice entry for a larger bearish move toward the missed pivots sitting below price (see related ideas). This would of course depend on...
USDCAD has completed a bearish Wolfe Wave at the PRZ of a bearish butterfly. Bearish MACD divergence has been printed to add to bearish bias. SL is placed above 1.618XA (potential crab completion) with target at WW target line.
Silver is in consolidation. Leading direction is still downside so it's better to get involved in short position. Sell if price complete the bearish Gartley which could be very next to upper "consolidation" trendline and .618 fib retracement of the beginning consolidation swing. Potential Reversal Zone in the chart
EURJPY is nearing the PRZ of a series of bullish patterns. A medium term bullish trendline may add support to the reversal zone. To add to the bullish bias, MACD and RSI have both printed bullish divergence. Entry is placed in the center of the PRZ with SL below structure lows and Bat X point and target at .618CD. Confluence in the PRZ: Bullish Bat ...
GBPJPY has entered the PRZ of two bullish patterns on the daily chart. The PRZ aligns with both horizontal and trendline support which may add to the potential for reversal at this level. Multiple unhit monthly and weekly pivots sit above price and may help pull price toward target. To add to bullish bias, MACD has produced bullish divergence and RSI is...
CADJPY has entered the PRZ of a series of bullish harmonic patterns in an area of strong support. The PRZ, which is formed by the combined reversal zones of a bullish bat and crab, may also be tested near the .5 Fibonacci speed fan line for an added level of time-based support. On a larger TF, a bullish AB=CD pattern is complete in the center of the PRZ. There...
AUDUSD is nearing the PRZ of 3 harmonic patterns presenting us with an opportunity to trade in the direction of the trend. The base of the PRZ coincides precisely with last week's missed pivot in addition to a fib cluster from a series of structure lows to structure highs. The 500 bar SMA and EMA lines may provide added support around the reversal zone. To add...
EURCAD has entered the PRZ of three confluent bullish harmonic patterns within a tight PRZ and fib cluster. The .382 Gartley and Shark target aligns precisely with the new weekly pivot and the .618CD target for the bullish crab. To add to bullish bias, divergence has been printed on both the RSI and MACD oscillators. Entry is placed at the center of the PRZ with...
Happy New Year, traders! Here is a trade to consider after the holiday. USDCAD has completed 2 bullish harmonic patterns at week-long trendline support. The PRZ falls in a S/R zone and the new weekly pivot for 1/3/2016 coincides with the 50% retracement of the CD leg, making this a nice level at which to take profit. To add to bullish bias, RSI has printed...
EURGBP is nearing the PRZ of a bearish cypher. The PRZ may be confluent with 2 trendlines, one wick to body and one wick to wick and may also be backed by additional resistance from structure highs and 1.13XA. Entry is placed at .786XA with SL above structure high and targets at .382 and .618 retracements of the CD leg. Confluence in the PRZ: Bearish...
A series of two trades is setting up on GBPNZD. The first is a long position after the close above the BAMM line (body) toward the bat PRZ and S/R Zone. The second, should price reach the bat PRZ, is a bearish bat opportunity. This iwll be an excellent opportunity to short because the resistance structure is strong in this area. Entry is placed at .886XA with...
GBPCAD has completed a bullish Gartley pattern on the hourly chart. The PRZ is tight and confluent with a S/R Zone. Entry is placed at the base of the PRZ with target at .382CD and SL outside of point X. Confluence in the PRZ: Gartley completion 1.618BC Projection AB=CD S/R Zone
USDJPY has completed a bullish cypher on the 1 hour chart with a PRZ that is confluent with S/R. A missed weekly pivot, EMA200 and SMA200 sit above price to add to bullish bias. Entry is placed at the base of the PRZ with SL at 1.13XA and target at .382CD. Confluence in the PRZ: .786XA (cypher completion) 1.5AB=CD 1.272BC Projection Unhit weekly pivot...
USDCAD has completed a bullish cypher in an area of strong support. Entry is placed at .786XA with SL at 1.13XA and target at .382CD. Confluence in the PRZ: .786XA 1.5BC Projection 2.382AB=CD
GBPCAD is nearing the PRZ of a bearish bat pattern. This bat may continue the bearish movement to the completion of a larger TF bullish bat (see related ideas). Entry is placed at .886XA with SL at 1.13XA and TP at .618CD. Confluence in the PRZ: .886XA (Bat completion) 3AB=CD 1.618BC Projection Larger TF BAMM Line (related ideas) S/R Zone