CADJPY is nearing the PRZ of a 2 confluent bearish patterns on the 1HR chart. The PRZ falls in a significant S/R zone and may potentially continue the downtrend. Entry is placed at the top of the PRZ with SL at 1.13XA and targets at .382 and .618 retracements of the CD leg. Confluence in the PRZ: Bearish Cypher Bearish Shark 2.5AB=CD 1.618BC Projection ...
EURUSD is nearing the completion of a highly confluent bearish PRZ. The projections and retracements of two harmonic patterns coincide in a tight area of resistance which falls in a broad area of S/R. Entry is placed at .786CD with SL at 1.13XA and target at .382CD. Confluence in the PRZ: Bearish Cypher 1.618BC Projection (Cypher) 2.272AB=CD (Cypher) ...
ZIOP has completed an alternate bat pattern. The pattern completion is confluent with a .886 fib level on a higher TF structure low to structure high. A trendline was broken and retested on 12/22, indication of possible upcoming bullish movement at the PRZ. A second trendline was broken today, which may be an opportunity to catch the breakout toward .382CD. ...
GBPCAD has entered the PRZ of a bullish crab. The RSI is quite overextended as well, so a 38.2% correction is likely at these levels. Entry is placed at the base of the PRZ with target at .382CD and SL outside of 1.786XA. Confluence in the PRZ: Bullish crab 3AB=CD 5BC Projection RSI Oversold
AUDUSD is nearing the completion of a bearish cypher pattern on the 1HR chart. The PRZ may find resistance from the center of a rising channel. Entry is placed at the top of the PRZ with SL at 1.13XA and target at .5CD. Confluence in the PRZ: Bearish cypher 1.272BC Projection 2.5AB=CD Channel center resistance S/R Zone
ACRX is nearing the completion of a bullish bat pattern on the daily chart. The PRZ falls in a significant support zone and may be confluent with support from a 3-month trendline. 3 Missed weekly pivots sit above price to add to the bullish bias. Entry is placed at the bottom of the PRZ with target at .618CD and SL below the 1.13XA fib level. Confluence in the...
NZDCAD is nearing the completion of two confluent harmonic patterns within a tight PRZ. A heavy S/R zone sits below the PRZ for added support. 200 EMA and SMA lines may add support as well. To add to bullish bias, RSI is oversold at current levels. Entry is placed at the bottom of the PRZ with target at .382CD and SL below the S/R zone. R/R = 1.44 ...
EURUSD is nearing the PRZ of a bearish bat in a significant area of S/R. MACD is also printing divergence in addition to RSI being overbought. A missed weekly pivot sits below price and is confluent with a larger .5 retracement. Entry is placed at the bottom of the PRZ with a SL above 1.13XA and targets at .618CD and the missed weekly pivot. Confluence in the...
Yesterday I published a EURUSD short on a bearish bat pattern. The bat has hit TP1 and is retesting the PRZ. If you missed the trade, this is a great opportunity to enter. A rare opportunity has presented itself where 3 bat patterns have aligned within a very tight reversal zone. The PRZ aligns with trendine touching the X points which may add resistance in...
NZDJPY may potentially complete a bearish bat at significant trendline resistance and a S/R zone. If price does reach this level before invalidating the bat patterns, there is a chance price could reach down past the X leg and complete a series of bullish patterns. Entry is placed at the bottom of the PRZ with targets at .618CD and bat/crab completion. SL is...
NZDUSD has retested a BAMM line and in doing so has completed a bearish Wolfe Wave. Going short here would target the completion of the Bullish Bat which coincides with both a missed daily pivot and the EPA/ETA combination from the bearish Wolfe Wave. Market entry used with SL above structure highs and target at the completion of the bullish bat pattern.
AUDUSD is nearing the PRZ of a bearish shark in a S/R zone that is confluent with the a bearish Wolfe Wave setup. 200 EMA and SMA may add resistance in this area. To add to bearish bias, this pair has been in a strong downtrend and this would give us an opportunity to ride it down to the .886 fib if price should reach the PRZ. Entry is placed at the shark...
USDJPY is completing a bearish bat pattern near a strong support and resistance zone. We also have the neckline from a head and shoulders pattern striking through the S/R area for added resistance above the PRZ. SL is placed above 1.13XA with targets at .618CD and the unhit monthly pivot for November, 2015. Confluence in the PRZ: Bearish bat pattern...
GBPJPY has completed a bullish bat at strong trendline support. This allows for a 5:1 R/R because a break and close below the trendline nullifies the trade. In addition to the pattern completion, there was a strong breakout from a 1D trendline that may potentially be retested. A missed pivot cluster may add to the bullish bias. We also have bullish RSI...
AUDCAD is nearing the PRZ of two bearish harmonic patterns. The PRZ is confluent with resistance from a Fibonacci cluster (.618 and .786) formed by two structure highs and lows. To add to the bearish bias, there is a missed monthly pivot below price which coincides with .618CD. Entry is placed at the center of the PRZ with SL at 1.13XA (bat) and targets at the...
Last post for 2015. Merry Christmas & a happy new year. Back strong for 2016 traders. Potential shorting opportunity if prz is tested. Price currently around some previous structure area. Pattern actually shown on more than one time frame. PRZ* at @1.0974 - @1.0987 SL @1,1040 TP TARGET 0.382 FIB RET @1.0900 - @1.0917 (Price could possibly test back to B...
EURNZD had formed a double bottom and retraced 61.8% to give us an entry for a bullish 2618 trade. At the 127% extension where profit is commonly taken, 3 bearish harmonic patterns may present themselves within a tight PRZ. On the higher TF, a larger bullish shark is emerging. Trade 1: Bullish 2618: Entry at the 61.8% retracement level SL is placed below...
Here on FX:EURGBP we have a very nice structure based formation. At first look at the beautiful round number of structure level @0.7300 which is tested for several times recently. Besides we have a nice wedge which indicates that price should go down. our reversal zone is between the edge of the pattern and the structure resistance levels.