Two potential trade setup based on two different system.
1) A bat was already shaping up and having a PRZ around 1.5570s.
2) A Gartley pattern is forming up (Thanks Jason!! ), which would have a PRZ just above the Bat PRZ.
These two patterns PRZ also would come within a market conflictual area where we may hit alot of resistance and might make the market with...
Possible setup of a Gatley pattern in a retracement that we're in but is in possible reversal to continue bullish momentum.
X @ Oct 13th, 9AM EST candle. It would also do a small retracement before continuing momentum.
Daily Trend : Bullish
Short term trend: Bearish
Price nearing 0.382 pullback
Price approaching Daily support zone
RSI hit 19.75 on Oct 09
Cypher seen, X on Oct 06
Bear Cypher pattern created but will the sellers really push ?
On the lookout:
1) Double-top on 240M
2) Bearish RSI divergence
3) Awaiting break below previous support
4) Based on the above, price might move to next Support
5) If price goes to 4 (Green zone) then await for retrace to 5 for a 2618 play
6) But we may see a harmonic play here since Price the still...
Examining the cable pair closely on a high timeframe made me seen
1) On Sept 4th 2015, Price has hit the Monthly trendline and started doing bullish trend
2) On Sept 4th,2015, the Price has also hit Monthly/Weekly Support ~1.51658
3) Looking at RSI, it is still in a bullish mode
Based on this, long term the price might only continue to increase toward Monthly...
Took this trade last night when price was near 2.0400 where the price was also bouncing off of. and was channeling on 15M. But breakthrough and trended upward. I was already in with my rules of Channel Breakout setup. GBP News went out during London session and boom, 170 pips when I woke up this AM.
I advanced my stop loss near 2.0505 to lock in some...
Cypher pattern developping on second leg on Double-bottom (if d-bottom isn't broken) setup on the 240/1D TF.
1W RSI seems to want to come out of its OvB status
4h Doji + Bull Divergence
1H Div stabilized for bull
15M on 8.May14h45, RSI dipped OvB
CCI 1H crossed up -100