JongchulYe

JongchulYe Updated 

Bat Pattern performed, price had been over acted though. because of Fibo level, taking short here is quite hesitating. 2 options are possible for next week 1. wait for re-bound 2. wait for confirmation (price goes under previous candle's low) 1 has better RR ratio but larger stop loss 2 has smaller stop loss but smaller RR ratio.

JongchulYe Updated 

Crude oil is in downtrend though, this is good opportunity to long. -bottom of downtrend channel -engulfing candle I will take my position on Mon as soon as market opens.

JongchulYe Updated 

AS Support B point couldn't be protected, this can be trigger for BAMM. We can take short if price goes under previous candle's low as confirmation.

JongchulYe

whatever pattern is, short term bounce is very likely at this point.

JongchulYe Updated 

ab=cd pattern will likely be completed. Also there is important s/r line. we can take short position, if price is reached 1236.5 area. target at 0.786 level and trend line .

JongchulYe

even though i failed last short try on oil, It seems very low risk and greater reward. now price reached 1.13 level of previous record high. and also price tried to break out upper parallel channel but failed.

JongchulYe Updated 

Price reached strong resistance level - 0.886 of XA - 1.618 of BC - Top of channel - ab=cd pattern completed time to short oil.

JongchulYe Updated 

Trading strategy 1 (Blue arrow) If price holds above C point, take long with small SL at support level. Trading strategy 2 (Red arrow) If price break-out potential neck line, take long when price is corrected. Also if price break out B point, we may consider BAMM of harmonic pattern. Both Strategies have great RR ratio, around 4~5.

JongchulYe

Gold breaked out and now retest. take long at support for 1.618 of BC leg

JongchulYe

bullish 5-0 pattern formed at key level. if candle pattern confirms reversal, this is chance to long. very small SL. RR ratio is amzing. tp1 is 0.618 level of CD wave tp2 is 1.13 level of BC -0.03% wave SL will trigger if candle close under key level

JongchulYe

small SL point good RR ratio 2.000 retracement of AB lef with rsi divergence pinbar + inside bar at Key level

JongchulYe Updated 

-Bearish Gartley about to be formed -indicators are calling divergence -pin bar in 4h frame (which is engulfing candle for lower time frames)

JongchulYe

H&S pattern trend line breakout and retest ab=cd pattern good to short

JongchulYe

Price has reached reversal zone, various harmonic patterns support short term correction, as well as price is at top of parallel channel. Indicators supports potential downward movement VPCI,MACD shows bearish divergence. Rsi, Stochastic in overbought zone. MACD histogoram is also decreasing. IF price breaks out Red line, this could be confirmed Rising Wedge...

JongchulYe

SL : 1358 TP1 : 1337 TP2 : 1320 If price break out resistance, we should consider flag pattern in longer time frame.

JongchulYe

Though Bitcoin performed inverted H&S, it also formed rising wedge with Rsi, Obv bearish divergences Short target to Neck line and 0.382 fib level.

JongchulYe

for short term trade.

JongchulYe

I'm newbie trader, hasn't experienced Cup pattern in my real trading though, It looks very similar with what I saw in Text Book. (If someone experienced Cup pattern, plz comment ) MY entry was 15.5, entry after breaking 16.7 level still looks great. Take profit target 1 is 19 level target 2 is 22 level Stop loss at 15.5 (For me this is Break-even.)