Looks like a bearish cypher pattern could be setting up on EURCAD, pointing to a short entry up around 1.5335
As usual, the short targets would be the 0.382 and 0.618 fib levels of the CD leg with stop-loss above the X point
If price breaks below the C point before hitting entry the pattern is then invalidated.
Good luck, and trade safely!
Presuming the downtrend is going to continue, I'm already in this short from last week. This is just an observation of a long-term target price, as well as a level of invalidation.
The AB=CD reciprocal ratio points to 1.09561 as an eventual target for the short. A nice long stretch that should offer at least a few consolidation price patterns on lower time...
Bearish cypher pattern completes up at 112.448. Will require a big stop but it offers big potential targets so adjust risk accordingly.
I'm looking for a closed daily candle to signal a bearish reversal after 112.448 is hit. Ideally we'll also see overbought RSI and/or bearish RSI divergence on lower time-frames as price tests this area.
Just an observation. I'm currently flat, waiting to see if an opportunity presents itself.
- Potential pattern short entry up at 111.193
- Potential pattern long entry down at 110.663
Time will tell. I'll post here if I decide to jump in either of these.
Trade safe. Good luck all!
Since I believe the daily chart shows that the overall uptrend is still intact I am watching this pair for a long entry. Fortunately, there is a beautiful bullish Gartley harmonic pattern setting up on the 4-hour chart.
The 0.786 XA retracement and the AB=CD reciprocal give a nice tight potential reversal zone between 1.1773 and 1.1766.
I'm waiting for a...
Like every other crypto trader right now I'm hoping to find a good place to buy more NEO.
I see a bullish shark pattern with a potential reversal zone between 0.0055 and 0.0033. It's a wide zone but I'm watching the (blue) ascending trendline that runs right through it. When price hits that line I'm looking to buy.
Good luck all!
Just for fun, I'm going to call a bottom for BTCUSD. $1429.30
This is solely based on a bullish shark pattern that would complete near the 200 period moving average on the coinbase daily chart (your exchange's mileage may vary).