EURUSD has completed a large Gartley pattern on the weekly TF at a very important area of support. The support comes from a trendline dating back to the year 2000 which has been tested three times and has yet to be broken in the past 15 years. This is the second time price has tested the Gartley PRZ, proving it to be a key area of support as well. To add to...
There is potential short on Pound dollar right after price just False break out from resistant 1.5245. Price has retraced to 50% Fib. Retracement. We're looking for price starting to bearish and if it does, we're taking our profit on 1.515 for a 100 Pips. This setup has risk reward ratio 1: 2.
The same trade as before, the same pair, the same rules! Waiting for a reversal pattern in this timeframe or in a lower one to enter in a good R/R. But how there isn't a major structure and no reason to the downtrend to end, i'm not going to be to greedy with my targets, one at the .382 to secure some profits and the other one at .618. GOOD TRADING!
On FX_IDC:EURUSD , the market moves sides; there is no clear trend direction on 1H bars. We have a recent support level at 1.5417, the price respect that zone 3 times and it is expected it will bounce again. Moreover, there is a trendline (dynamic support), which exactly crosses our reversal zone, and fibonnaci level 38.2. All those confluences increase the...
hey traders, I am trying to rush this trade out of here before it either completes or stops us out. If by the time you are seeing this, price hasn't moved much, i would wait for another test of Resistance and look to get short then. Dont force the trade if price action skews your risk/Reward Like always if you have any questions, comment below, follow us on...
Using the If / Then thought process to prepare for the next potential trade set up on the 240m timeframe. If the double top identified prior to this post struggles to break down lower and instead heads for new structure highs then the next opportunity to get short will be the advanced pattern. The bearish bat pattern's D completion point is at 1.5590 just shy of...
Hi All, just wanted to share this potential Bearish Bat Pattern As always Entries Stops and Targets Red Line Minimum Stop Level Green is our entry point - keep in mind you may want to front run to get filled. Blue Line are T1 and T2 standard 38.2% and 61.8% - you may extend or reduce targets depending on structure Thanks and good luck
Hi All I wanted to share this trade - we are now filled on the Bat Pattern Either way we have a winner because we have followed our rules. We see here if this pattern completes that we will have a perfect stop and reverse trade. Lining up with our BAT Targets As before Green is Entry - Red are minimum Stops Blue is Bat T1 and T2 Orange is Cypher T1 and T2...
Hi All, I wanted to share another early prediction, here we have 2 advanced patterns depending on which you prefer to take we have multiple opportunities for a shorting position. Cypher Blue - Bat Orange I have noted the risk reward for both patterns. If we break past the B Legs and continue upwards you will notice in previous structure that we have a shelf of...
Hi All, I wanted to share this potential setup, we are looking at a neutral position entries in both ways. Orange Bat Pattern - Entries have been brought just below 88.6% to ensure we get filled. Blue Cypher Pattern - Entries have been placed at 78.6% - as we know the win ratio for the Cypher pattern is very good and we rarely see an exact 1:1 risk reward for...
Idea is based on Elliott wave theory. More info on the chart. Please make sure to check out my previous linked idea to get the bigger picture. good luck
There is Cypher which - when lucky - could go to D point of bat . I will try to take it with great 6:1 risk reward ratio. Notice - today we will have Reuters/Michigan Consumer Sentiment Index news. The Reuters/Michigan Consumer Sentiment Index released by the Reuters/University of Michigan is a survey of personal consumer confidence in economic activity. It...
Confluences: 1/ trend 2/ PA ( high test followed by inside bar ) 3/ Monthly & Weekly resistance of 0.7060 4/ 50% fib retracement additional info: * H&S - pattern on intradays * a lot of traders are already short since the 0.7135 resistance test
Confluences: 1/ with the recent formed downtrend 2/ Broke TL + retest 3/ Tested the 130.000 weekly resistance 4/ Bounced of the 50% fib. 5/ high test, followed by inside bar set up, followed by another high test 6/ 50 & 60 EMA's bounce
This is a 0.5% risk trade I am currently in. the downward move looks impulsive to the downside and I guess there is still high probability to continue going down. And from looking at AUDUSD (still to go down) and NZDUSD (going up and currently finishing wave 2 down) this trade seems ideal :) another "conservative"short entry could be entered after the price...
Hi all, Here we have a Bearish Gartley that might be setting up. D leg needs to complete at a 1.27% which also gives us a nice AB=CD pattern WE ALSO HAVE A NICE RISK REWARD ON THIS PATTERN STOPS ABOVE X LEG TGT1 0.382% TGT2 0.618% GOOD LUCK!!!
Right now we have a great opportunity on USDCHF, spotted just now. Previous supports and resistances (also seen on 4H chart) + Fibonacci and candlestick formation. I'm already long on it :D Remeber, it;s just and idea and it's your decision whether to trade this or not.