On the USD.JPY 15min chart we have a potential short opportunity at the D leg completion of a bearish Cypher setup The price reversal zone on this pair is between 109.768 & 109.944 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's. Potential targets for the Cypher placed at the .382% and .618% retracement...
Guys lets test my new thought on GBP move: As you see clearly, Its been moving in the channel, in fact a "Rising Wedge". Latest move has followed a very nice Gartley Pattern, if you see how precisely it reversed at B's 0.618, C's 0.236 level of leg XA. Next it will move on to test the 0.786 level @price 0.7230, which is also the lower bound of the channel. Jia You!
STAGE 1: THE BULLISH IMPULSE LEG A bullish impulse leg is a strong move in price action to the upside. The impulse leg can be a mixture of bullish and bearish candles, but must have a bullish overall direction. The start of the impulse leg should be marked as X and the top of the impulse leg should be marked as A. STAGE 2: B LEG RETRACEMENT Now...
short gold @1280.89 because of XABCD pattern & Wave C. target :1190 - 1200 SL :1290 good luck
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...
POTENTIAL COMPLETION OF XABCD PATTERN ON AUD/JPY, WITH THE COMPLETION LEG FINISHING ON THE 0.382 RETRACE OF LONG TERM SWING HIGH/SWING LOW. A BEARISH REVERSAL CANDLE ON 30M TIME FRAME MAY ADD TO FURTHER CONFIRMATION OF SHORT TERM SELLING, WITH THE 91.30 HANDLE ACTING AS STRONG STRUCTURE RESISTANCE. DAILY SUPPORT ACTS AS A NICE POTENTIAL PROFIT TAKING AREA, SHORT...
here we see a Butterfly pattern forming on the Euro against the Yen. If the pattern makes it above 136.025, the pattern will be complete, in which case i have places my entry at point B , my limit at the 1.618 extension of the BC leg , and my stop at the Red D point, because at that point , we are at roughly a 2:1 risk reward ratio, also because I am going to...
In the consolidation over the past few weeks on the USD/JPY charts, a Gartley pattern has appeared. According the the structure, it appears as though there will be a dramatic dip in the market with some serious gain. The stop should be placed at the top of the flag, while the limit should be placed at the bottom of the flag. With any luck, we will get some good...
BASED ON XABCD & PATTERN W PRICE MUST TO 1.09377 AND AFTER REVERS TO 1.07500. SHORT POSITION = BUY BASED DOUBLE BOTTOM LONG POSITION = SELL BASED ON XABCD GOOD LUCK.
.ABCD bearish patter is completed if we imagine point D(2) at 1.2 extension of wave BC. I suggest to open now a position short with: Target 1: 0.608 fib retracement of CD Target 2: When price cross under price of point C Target 3: 1.272 fib retracement of CD Place Stop loss just over point D (the one shown on the graph) that is the end of a BAT (XABCD)...
If it breaks the neckline and confirms the head & shoulders top, you can expect another leg down to 8136 - 7700 (maybe even this year). If no breakdown occurs and 8902 holds, I expect a decent bounce to 9500+ Also, interesting ratios between the last 4 waves indicate good downside potential.
Plug power looks to be forming both a batwing and gartley XABCD pattern. It is currently in the bullish direction after forming an engulfing bullish line and a bullish 3-method formation on the .236 point, which it appears to be confirming with a bullish movement. I expect this to go to either $7 - 7.35 (high chance) or around $10.30 (low chance), at which point,...
This is continuation of my mini series about "When not to draw XABCD lines" It should be named part 2. "Picture is worth thousand words" Not any picture, if there is a picture about how XABCD works then its not worth so much. Almost every book will tell you that it works, but almost none will tell you when it doesn't work. For me I like to just deduce, not...
This mini chart is about how not to measure XABCD formations. The simple basic approach is to remember that BC is the biggest correction, is a mnemotechnic way to remember it. If there is another bigger correction like EC you should not classify pattern as an XABCD or you should draw pattern differently using bigger correction as a BC leg. In this chart we can...