CarlosPM

CarlosPM

Potential cypher forming up, finishing on the 0.786 of the X to C move. Also meeting with 1.272 extension of the A to B move. RSI is currently showing some degree of divergence. Will short if price rises to 1.06030. This area has served as both support and resistance in the past.

CarlosPM Updated 

Will follow price action closely. There is ratio confluence of a 1.618 extension and a 0.886 retracement, setting the conditions for a bat pattern. Stops are going 15 pips above X, with profit targets at the 0.382 retracement of the A to D move. Also note that the potential reversal area meets with a structure area of past significance.

CarlosPM

Potential Gartley pattern (red) and Bat pattern (yellow) forming up on the 4 hour chart in the AUDCAD market. I will update more information on the stops and targets, once the trade develops.

CarlosPM

On the Weekly chart, we see that the market has been respecting the highlighted area since February 2015. Therefore we can hope that it continues to do so, by keeping an eye on shorting opportunities. We will have to look at alternative trade scenarios if the market breaks above this level. Right now I'm keeping an eye on this potential Cypher pattern completion...

CarlosPM Updated 

If the market continues upwards towards the D completion of the butterfly pattern (blue) we could sell the USD/JPY towards the 0.618 retracement of the C-D move. If the maket continues downwards and invalidates the butterfly pattern by surpassing point C, we could buy the cypher pattern (red).

CarlosPM Updated 

The GBPUSD market seems to be setting 3 different potential harmonic patterns within the same area. 1) In blue we have a Cypher Pattern 2) In yellow we see a Bat Pattern 3) In red we see a Gartley Pattern In a perfect world, we´d be able to sell the Gartley all the way to the buying point of the Cypher for example. We can only dream :D. I will update this post...

CarlosPM Updated 

There is a potential Cypher pattern formation on the EURJPY, showing RSI divergence, with ratio confluence between the 0.786 and 1.414.

CarlosPM Updated 

The B point has retraced back to the 0.382 retracement of the X-A leg. C has reached below B and we are now waiting on a completion at the 0.786 of the X-C move. There is also a 1.618 level extension of the A-B leg at exactly the same area. Stops are placed above X. Target 1 is placed at the 0.382 retracement of the hypothetical C-D move and Target 2 is palced at...

CarlosPM

Analysing market moves with harmonic ratios and harmonic moves, along with structure. If the market retraces back to this 0.618 I'm going to go long. Stops are set below the previous structure low. Target is set at the previous high, 1.414 level extension and 1.618 inversion, hoping for a re-test of the previous high.

CarlosPM

Potential cypher on the mentioned pair

CarlosPM

It could be a good chance to jump in the EURGBP bullish trend. The market has just closed above previous structure highs, and has now retraced back to and area where there is ratio confluence between the 0.382 and the 0.618 of the latest two impulse legs. The RSI also signals over sold at 20 points. Targets are set at another ratio confluence level of 1.272 and...

CarlosPM Updated 

Unfortunately I'm a bit late to this one, since I've been busy with college lately. We can see that the A-B leg has retraced to the 0.500 retracement of X-A. And the completion point at D lies on the ratio confluence area between the 0.786 retracement of X-C and the 1.414 extension of A-B. This area has also proved to be a strong support before, which could now...

CarlosPM

Cypher forming up on the hourly time frame on AUDUSD. If the prediction is correct, it should agree with an underlying Head and Shoulders pattern (shown between the red lines), and perhaps be the initiating spark of a greater Cypher pattern on the daily time frame.

CarlosPM

We can observe how the price action has created a possible butterfly pattern by point B reaching the 0.786 retracement, point C not going below A and current price action going above X. We can also see some degree of RSI divergence at the over bought area. The execute point for the short entry is unclear, as there is strong ratio confluence between the 1.272 and...

CarlosPM

Potential ABCD pattern forming on the DAX daily chart. The harmonic A to B and C to D match with a 0.618 retracement and a 1.272 projection. The finishing area of 8453 also falls under a previous support and resistance zone. Noticeable RSI divergence can also be seen.

CarlosPM

Daily price action has reached the 0.500 retracement of the X to A leg but has not touched the 0.618. The B to C leg has not has not violated A by closing above it. The finishing move should be at 0.886. This zone has also proved to be a strong support and resistance area in the past. RSI divergence would be another ideal signal in the next couple of days. I'm...

CarlosPM

Potential future down trend continuation as the market settles in consolidation after the massive bear action, forming a pennant pattern.

CarlosPM

Potential Cypher pattern, completing at previous strong structure area, with ratios confluence of 0.786 and 1.272.