On the 15-minutes chart, there is a Bearish Shark Pattern that has formed up and it's valid for a shorting opportunity.
There are 2 concern about the setup,
1. 1 rule has been violated while the Shark Pattern forms up.
2. A long shadow candle form could be a warning sign.
I will be waiting for the retest of the pattern at 0.7225-0.7229 for a shorting opportunity...
This Bat Pattern is quite a highlight for me. I'm waiting to engage this trade only after Monday 11Jan21 1200hr(+2GMT) which is 6pm Singapore time. The preferred entry price is at 81.94. A lot of people may know harmonic patterns but they aren't aware of the rules and filters that's why the results that they are getting are not optimal.
The best part of this...
As mentioned on last Wednesday Facebook Live session that we are in a Harmonic Patterns Season. Right after the bearish shark pattern run of 252pips, we are waiting to catch to reversal or pull back at 136.26 for a buying opportunity.
I will personally look closely on this setup as I may have a plan for target extension for this trade.
This week I'm looking for a trend reversal/ counter-trend trading opportunity on the EURUSD. In short, I'm looking for a selling opportunity. Even when there is a potential Bullish Gartley in play, I'm looking for the shorting opportunity after it has hit its target area(red box).
Trading made simple with just the APE framework. Analyse the market movement, listen to what the candle is trying to tell you; Plan for your trade or I like to say your attack, which trading strategy to use, trading with the market direction or against it; Execute the trade, hit the button and follow your rules, unless you have a trade management system in place,...
A bearish crab formed within the sideways bounce(red rectangle), if a break and close below the box could have an indication of a potential bearish flag pattern.
Trade has already engaged and shared with my community on Friday, let's see how this trade turns out.
If a break below and close below of the current candle happens, I will engage a short trade.
Trading at C is not what I advocate traders to do. The reason is that it is not a pattern until it completes and reverses at point D.
In this case, it is possible because it has a Bearish Gartley Pattern that was ahead of it and a check-back to the HSI Arrow and a...
Have I not warned that Australia Dollar is going to crash? This morning there is a big move, and this is a reminder to traders who are optimistic about Australia economy. The flash crash is just the beginning, the 1st wave which I had shared months ago that the significant drop will happen around 1 June 2020 give and take. The threat is real, and the crash happens...
A bearish shark pattern that converges with the 5-0pattern for a shorting opportunity forms at the peak of the band isn't that great?
Don't underestimate the small wick over there, it is close to 50pips difference, and the tip of the 5-0 Pattern happens to be the HOP(Harmonic Optimal Price) on the bearish shark setup.
I've placed a sell limit order to engage...