$UK100 was rejected by the 200 SMA line in its latest attempt to break it.
The price is rallying again today as we approach the FOMC and there are several pattern I thought you should be familiar with.
The bullish scenario - Two harmonic patterns will complete near 6900-7000 (bearish Bat and bearish Cypher).
If the price will rally following the FOMC statement...
Yesterday I posted the near term resistance zone $DAX will have to deal with 11300-11400.
Today I'm showing two harmonic options that perhaps show where the price could reach.. for both directions.
10000 will be the completion of an AB=CD pattern.
12000 will be the completion zone of a bearish Gartley.
Two patterns, Two figure levels.
This analysis is part...
Bullish Gartley completion near 206$ support zone.
Assuming we will have a red opening (at least on futures), $SPY may end up below the 208$ support zone and near 206$ (which is another support zone) and near the 200 SMA line.
So far the 200 SMA line was broken only once since 2012(!) so if you are bulls and you are looking for bullish opportunity, 206$ can be a...
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...
As mentioned yesterday, the pair closed above the BC leg, and i am now looking for a harmonic move up into the 1.618 fib.ext.
That area is also a previous battleground between the bulls and the bears.
Stops on this is above the 1.618 and im looking for a target at previous resistance at the 1.27fib.ext (C)
Price is currently forming a downward channel as long as price is bouncing within this channel, we can potentially take advantage of it and trade from the top and bottom of the channel. Also we have a potential 3 harmonic move within this channel too.
I would love to hear your opinion, feel free to comment, agree or disagree....
An AB=CD harmonic pattern seems to be almost done forming on the daily time frame of GBP/AUD, I've set my target at the previous resistance area of point B in the pattern, and my stop loss comfortably set above the last swing high, allowing for a potential risk/reward of 3:1. Can go down to the lower time frames to look for a candlestick pattern etc. for a more...
In this week's Weekly Markets Analysis I posted a setup in $XAUUSD involving two harmonic patterns - Cypher and Butterfly.
Read the full setup here
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Will the $EURUSD dive all the way to 1.1 to complete the harmonic trading pattern before the ECB press conference or will it do so with the help of Draghi?
Read the full analysis and more trading ideas on this week's Weekly Markets Analysis newsletter
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