A Cypher with perfect ratios completed at Friday and is impressive how price reacted exactly at the 78.6 retracement from the XC leg. Now I'm waiting for the completion of the Bat and Shark patterns. I think these are good opportunities, as there are very defined structure levels for putting our targets and stops. Good luck for next weekend!
I put a limit order on both Bats, as I would expect that after completing the patterns, price might go lower and meet with the support areas. There is also a big Shark pattern, but it has no strong structure to support price at D point, so I won't be taking this one, but is good to know that is there for any future analysis.
$EURUSD has been bearish for 5th of May 2014. this bearish is expected to find the strong support area @ 1.3575 area. The possible pattern is Bullish Gartley and Bullish Shark Pattern. if this support area can hold, my 1st bullish target will be around 1.3795 and next will be 1.3950 level.
Monday brought a bounce off of the 1.128 extension to form an Harmonic 'Alternate' Bat Pattern. I would look to get long the stock at the Monday close price with stop loss tightly below the lows of Monday with profit target just in front of the next resistance level. We also have a stochastic cross along with bullish momentum divergence on the mac-d histogram....
Despite of Silver failing to create a new high but turning down @19.74 this might be a setup for upside move. 4 possible patterns (cypher, shark, crab, and inverted H/S) showing a very likely bullish move
Bullish Bat Pattern on TJX if price reaches 56.63. We saw increased volume on the advance of the 'XA' leg and lower volume behind the decline to pattern maturity. There also is bullish momentum divergence from the last swing point within the 'D' leg of the pattern to where price is currently. There also seems to be a rough bat pattern behind this pattern that...
Coming off 52 week highs for the identified 'XA' leg. 37.50 is clean support on both daily and weekly charts. There is also very nice bullish momentum divergence seen on the Mac-d histogram. Enter Long just in front of the 'D' point at 37.55 Stop Loss below 'X' point around 36.60 My initial Profit Target will be 38.75 which should see resistance with second...
The CD leg of the shark pattern has reached the 1.61 retracement of the BC leg. I'm waiting for confirmation of reversal before entering short somewhere between here (~1.389) and 1.40. If the reversal happens sooner rather than later, there is also the possibility of a Gartley pattern presenting an opportunity for a long position somewhere around the 1.3527 support level.