CADJPY has completed a bearish Gartley pattern and has thus far respected its resistance in the potential reversal zone. The Gartley PRZ falls in the sell zone of a bearish Wolfe wave which produces a confluent target with the harmonic pattern. To add to bearish bias, an unhit monthly pivot sits below price. SL is set above Gartley 'X' point with targets at...
After a bullish Wolfe Wave setup completed for +50 pips, profit-taking may bring the pair back down again. Two confluent harmonic patterns present an excellent R/R for re-entry to catch the continuation of bearish movement related to the daily Gartley pattern (see related ideas). Price has been contained below the Wolfe Wave targetline and any close above...
AUDCAD is nearing a highly confluent zone of resistance. A bearish bat and a bearish crab are set to complete in a tight PRZ that may be contained by trendline and pitchfork resistance. A bearish Wolfe wave setup may also be completed in this area. To add to the bearish bias, two unhit daily pivots sit below price. RSI is overbought as well. Stop loss is...
USDJPY has completed a bearish Gartley pattern at the intersection of two S/R trendlines. The structure of the Gartley is such that it's AB=CD completion forms a tight PRZ with the .786XA level. The PRZ coincides with the .786CD target for the bullish butterfly completed in August, 2015. To add to the bearish bias, an unhit November, 2015 sits below price and...
AUDCAD is nearing the completion of two bearish advanced patterns. The pattern PRZ is confluent with a potential Wolfe Wave setup. A daily trendline may add to the resistance in the PRZ. An unhit weekly pivot sits below price to add to the bearish bias. SL is set above secondary trendline resistance. Targets are set at .382 and .618 retracements of XA. A...
EURJPY has entered the PRZ of a bullish bat that is confluent with various other S/R elements. On the D1 time frame, a pitchfork aligns with with the .50 retracement of a larger XA leg. This area is confluent with the 1.786 projection of BC and and the completion of an alternate AB=CD pattern. There's a secondary structure low below this level to add support. ...
GBPJPY has completed a series of bearish patterns. Two bearish Wolfe Waves are entering a their sell zones. A bearish Gartley pattern makes for a good place to enter. The Gartley PRZ is confluent with trendline resistance. SL is placed above X/5/5 with target at the unhit weekly pivot. Confluence in the PRZ: 1. Large bearish WW pattern potentially...
EURJPY is showing bearish price action in the PRZ of multiple confluent harmonic patterns. After completing a bearish bat, price was rejected at the PRZ and is retesting the reversal area. In this area we have two bearish butterflies that have completed at trendline resistance and a bearish Wolfe wave setup as well. To add to the bearish bias, two unhit weekly...
EURNZD is completing a conglomerate of potential harmonic patterns to produce a highly confluent kill zone. In addition to a host of pattern completions, there is added support from a long term trendline and another strong S/R area further below price. SL is placed below the S/R area and targets placed at the .382 and .614 retracement of CD. Confluence in...
USDJPY is forming a possible Bearish Cypher pattern, potentially ending in the territory of an optimal Wolfe Wave SELL zone. If price reaches this level I would expect a quick reversal as this area is highly confluent with multiple key levels of interest. Stop loss can be placed above S/R with a target at .382CD. Confluence in the PRZ: 1. Bearish Cypher...
AUDJPY has completed a precise bearish Gartley pattern after a .618 retracement of the xa leg followed by another .618 retracement of ab. Although the pattern is technically complete, Gartley patterns will often test all of the levels in their potential reversal zones which typically consist of the area between .786xa and ab=cd. A conservative entry is at the...
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.
Multiple patterns setting up on EURGBP providing an opportunity to go long. Potential targets and SL on chart.
Potential patterns setting up on USDCHF opening up a short opportunity. Pending order set at top of expanding triangle with SL outside PRZ for bearish crab. Target set at at S/R zone and unhit weekly pivot. A second target may be set at the Wolfe Wave profit line.
AUDNZD has possibly completed a C corrective wave at an important S/R zone. A move down from current levels into wave (v)/3 would likely extend into the 1.088 area.
Drawn S/R on W1 very strong levels, Fib retrace shows 38.2% reversal occuring CCI Dropping. First target 23.6% - Second 0% - Stop on kumo support but will we test it at all? who knows :)
Cypher pattern completed and another cypher pattern setting up in smaller time frame. I Break this trade into 3 targets Target 1 - 38.2% retracement of the cypher pattern which also close to 78.6% D leg (Smaller cypher pattern) Target 2 - I always set target 2 at 61.8% for cypher pattern Target 3 - Other side corrective wave 4 is on progress (ABC flat...