I wake up, did some analyses and found out this perfect opportunity on FX_IDC:USDJMD
Completed Bat pattern at the PRZ zone with the confluence of:
1. Fibs 61.8
2. Structure resist
3. Daily R1
We have very nice R/R targets: Target 1 with 1/1.95 RR and Target 2 with 1/3.4 RR.
I want to mention that X leg is located in very strong resist zone, which gives us more...
This is what I see. Structure of this 4H downtrend suggests that 1.10000 is at a highly probable reversal point. NFP is the booster that would take price to this level quicker than expected. While its my naivety to expect such a swift move within a couple of 4H candles, its NFP day. Nevertheless the price is expected to be within the blue area for the foreseeable...
Aggressive entry
I took almost the high of this potential long legged doji with a Shark113 short @ 2.1000. I consider this level as the higher zone of the PRZ of the bearish crab. I will post another logchart with all my trades within this PRZ of the bear crab.
Testing
Thus far, each level of the PRZ has tested:
- XA 1.618% extension / BC 2.618 extension
- BC...
USDJPY has met Target 1, 61.8% retracement of CD leg of the bearish bat pattern created on 6/24. From here, we may look for a potential setup of a number of future harmonic patterns. If price does not reverse at T1, the next Bat target to look for is 122.05. If price rebounds from T1, we may look for a reversal in PRZ, which is the 38.2-88.6 retracement of our...
VIDEO: www.youtube.com
Good morning traders, we're looking at the EUR/USD on
the 4 hour time frame, break through and continue the rally.
Please view the video above for today's insights on the market.
Don't forget to use stops and plan your trade, trade your plan.
Star Prosper
Philip Stewart
VIDEO: www.youtube.com
As promised, here is the EUR/AUD 4 hour trade
that was entered today.
Video about the trade is viewable above.
Star Prosper
Philip Stewart
We have a potential reversal zone for a long entry between 118.65 and 118.25. There is a completion of a gartley pattern
and an ABCD pattern in that area. We also have some structure support if we look left....
Even if it is not a good idea to trade this weekly pattern due to extreme risk of having stop loss below X point, this still can be useful to "turn the radar on" seeking for nice corrections movements to the upside on lower timeframes.
We have a Bat pattern finishing on the 30M chart. Price already tested the PRZ (and overshot it a little, but could still stabilise and reverse nicely) and the RSI is clearly oversold. When defining the PRZ for a Bat pattern, we look at the projection of three harmonic levels. I: the 886 retracement of XA, II: an extended AB = CD pattern (in this case 1272 AB =...
While the daily chart on the pair does not show any signs of the direction of the pair, dissecting it into 4 hours time frame gives a beautiful price action.
The pink rectangle shows a potential reversal area of the pair going back to June of 2013. This may probably give us a chance to keep looking at the pair, what gives us a little more reason to take a position...
Reasons for entry:
FE AB 127.2
Harmonic move
FI CB 127 - 141
Daily strong structure, PRZ
WAITING FOR DOUBLE BOTTOM, RSI OS (MAYBE DIVERGANCE)
SL :
Below structure
TP :
38.2 of impulse leg (structure aswell)
