The pair has been on a down channel since the beginning of last trading week. We could be seeing some pause here at the completion of the Bullish Butterfly pattern Pattern Identification The bullish Butterfly completed around the 0.6910 levels Trade execution It would be great if this current candle closes to form a bullish engulfing pattern. At this moment...
After the FOMC decision, the USD has been weakening and has now reach a critical turning point. Hoping that EURUSD can take the lead from AUDUSD and start to fall soon. Pattern Identification Bearish Shark pattern completed on the H4 chart at 1.0790/95. Trade execution Price went slightly above the PRZ and is currently supported by the PRZ. I would want to...
I spotted this pattern late and I am not in the trade. Just to share with my followers what I mean by "hope AUDUSD is leading and EURUSD will follow suit"
The other index that we were looking that evening at was the S&P500. There was a bearish Butterfly completed at 2340/50. We expected that to be the turning point at the beginning of 2017. However it has gone much higher. Now I see an AB=CD pattern completing at 2400/2407 level. Would like to see price react at this levels with a bearish pin bar or a bearish...
MIssed out on the earlier short because the looming FOMC decision. Now we look for new trades on the pair. Pattern Identification There is a bullish Shark pattern completing lower at the 112.05/30 level. Only when it reaches those level, then I will be interested to go long. Trade execution For this moment, let's monitor the price movement. If it creates a...
The pair completed the bearish pattern. Price reacted to the PRZ and fell. The FOMC data pushed this much lower. However I do not think that the down move is completed yet. Trade execution I would like to see some retracement (which is happening now), to continue shorting this pair. Hopefully this can create a classical continuation pattern (bear flag or a...
I was conducting a talk at a local Stock Broking house. Really appreciate the invitation to speak to a group of enthusiastic participants. The participants and I were looking at the STI, stock indices for Singapore. There is a bearish Bat pattern completing much higher at around 3430. However there is an AB=CD pattern completing now at 3145/50. This is also at...
My USDJPY trades has been well documented here on tradingview. Still hurting from the most recent Long trade. Stopped me out of my trade before it does a 200pips move up. Anyways this is pat and parcel of trading. Pattern Completion : There is now a Bearish Shark Pattern completing higher. This it the third one since the beginning of the year. No wonder people...
The stock charts that I have been looking at are usually the longer time frame charts (H4). Let's do something different here and look at the shorter time frame trade. I spotted an Deep Gartley pattern completing on at the 0.886 XA at around $860. Ideal would be that RSI goes into the overbought zone and starts to drop. Rising wedge formation on the H1 If...
I started analysing stocks about 4 months ago with Abbott Labs. Went in long at $37.80 and got out at $40.50 with a $2.70 profit. I said it could go higher and it did. Now trading at about $45 Pattern identification ABT has completed a bearish Bat pattern and it does not seem ready to fall. First some word of caution (seems to want to go higher) - Price seems...
Hi traders, Let's have a look at some stocks. As boys, when growing up, it is a norm for us to play make believe war games. So this stock came into mind. Guess what : Harmonic Patterns just appears before me like magic. - A bullish Bat (in orange) that completed in Nov 2016 - Now a Bearish Butterfly (in green) completing soon Raytheon is a major US defense...
All stock indices seems to be defying gravity. I believe that we should be seeing some bearish sentiment coming in soon. Pattern Identification The FTSE100 completed a Bearish Shark Pattern at around the 7323 levels. RSI starting to show a bearish divergence. Trade Execution Price action in the next few days will be critical. I would like to see one or two...
Last week most currencies weakened against the Swiss Franc, the Aussie was also one of them. I have spotted 2 different levels where some bulls could be charging into this pair, at the smaller Bullish Butterfly (in green) and the bigger Bullish Shark (in orange) Pattern Identification A bigger Bullish Shark will complete at around 0.7555 There could probably be...
Completed a bearish Shark around 113.00 RSI touches the overbought zone and ticks down. I took the trade at 112.87 after breaking below the rising wedge Placing the Stop Loss above the round number = 113.211 (34pips) Targets at 111.85 (102pips)
Mattel - land of the Barbie Dolls. No no... don't get confused with the Martell the brandy distillery. I had a lot of barbie dolls in my house, I mean... my daughters had a lot of dolls when they were growing up. Technical Analysis After the gap down from $31 at the end of Jan, the natural thing to do is to continue to short this counter. I would only get...
I see the 2 H1 patterns completing on AUDCAD. - Bearish Butterfly (in green) - Bearish Bat (in orange) There seems to be a reaction to these PRZ levels and the RSI is presenting itself in the Overbought zone. As I always say, an overbought instrument can continue to be overbought for a long time. Stops at around 1.0158 (33pips)
Hi traders, I just wanted to post this as part of sharing. I am not in this Nikkei trade, however I am currently in the USDJPY long trade (see related links below). The NIkkei 225 index is highly correlated to the USDJPY currency pair This completed a Bullish Bat pattern and even showed us an Inverted Head & Shoulders pattern at the PRZ, and has moved up...
Since the beginning of Feb, this USDJPY pair has been good to me. 1. Started off with a bullish butterfly 2. A good short on the Shark I believe that this pair has completed the down move, and is now ready for the next up move. (See past related ideas) The Shark Pattern has just completed at the 112.00 level. The other reasons for me to take this long are : ...