Setup EURGBP Gartley short on the daily timeframe Entry: 0.8902 Stoploss: 0.9007 (105 pips) Target 1: 0.8794 (1:1.03) Target 2: 0.8728 (1:1.66) Target 3: 0.8652 (1:2.38) If the stoploss is too big, downsize you positions!
Setup entry: 1.3401 stoploss: 1.3491 (90 pips) target 1: 1.3266 (1:1.49) target 2: 1.3183 (2.39) target 3: 1.3009 (4.98) If the stoploss is too big, downsize you positions!
Fade the breakout with a butterfly short The pair broke a downtrend channel to the upside, see X. This breakout could turn around at 1.272% of X-A. Entry: 112.29 Stoploss: 113.42 (113 pips) Target 1: 110.69 (1:1.42) Target 2: 109.7 (1:2.29) Target 3: 106.97 (1:4.71) If the stoploss is too big, downsize you positions!
Reading the chart The pair broke a midterm upchannel with a weak extension of 120.9% of X to A. This break of the upchannel sets my bias to short. Also, with a weak extension in mind I would expect a deep retracement back to X. This retracement should end at approx. 0.7189 with a confluence of the dynamic resistance of the current downchannel at approx....
The PRZ of the gartley pattern would fill the gap 2017-04-23. Setup Entry: 109.11 stoploss: 107.42 target 1: 111.11 (1:1.19) target 2: 112.35 target 3: 115.79
Reading the 1H timeframe Although I'm currently short with the Shark886 pattern for the longer term, the pair is still making higher highs on the lower timeframe. With a clear extension of 127.2% of X to A the pair should drop to at least 78.6% of X to C at .7180. This is where this Cypher pattern completes. Also, this completion point comes together at the...
Reading the chart After the French election the pair surged higher until it hit a "major" dynamic resistance (reprojected a channel aligned at the 2016-10-06). Now it consolidates awaiting the big news from the UK. As a pattern trader I look for patterns within consolidation with potential to break out. If I loose, I reset and wait for a retest of the broken...
The pair broke a significant dynamic resistance (16H/D/W). Resistance should become support. A nice gartley pattern presents itself for a long opportunity: The potential reversal zone (PRZ) of 18.6 pips is defined by: - 127.2% extension of AB - A bigger 61.8% retracement of AB=CD completion pattern. Setup entry: 0.86293 stoploss: 0.85860 target 1: 0.86756...
Reading the chart After the impulse move and the extension the pair is retracing all the way back heavily. Already signs of exhaustion at the 61.8% retacement of X-C. However, no signs of any divergence yet. The alignments of the impulse, extension and retracement could mean a possible shark pattern. Because of the weak extension (it didnt hit the 1.272% of...
Is it time to look for short opportunities? Be patient and look for daily/weekly reversal signals..
Reading the chart After the 1.272% extension of X-A being capped by the channel, the cypher completion should be around 1.2989. However, the bottom of the channel is a little bit lower and aligns with a monthly/yearly support. So I'm looking for a PRZ between 1.2989 and 1.2931. With that said the risks of this Cypher setup can be lower than it normally would...
Setup Entry: 0.7775 Stoploss: 0.7805 Target 1: 0.7696 Target 2: 0.7645 Target 3: 0.7507
Finding an opportunity The pair tried to make a lower low after it retraced at least 61.8% from X to A. But it failed. Instead, it stalled after 61.8% of A to B which can be marked as point C. Now price went almost non-stop up north.. Extreme? Ealier this week, I was looking for a short opportunity after the bigger plunge earlier this week. Now with the extreme...
Setup This setup is a low risk setup to go long with a very big 5-0 pattern completion. Entry: 0.7144 Stoploss: 0.7114 (-47 pips) Target 1: 0.7276 (1:2.42) Target 2: 0.7358 (1:4.15) Extended bonus target: 0.7918 :-)
Reading the chart Getting a bigger picture of the pair really shows the failed bearish attempts after point B. After a failed push (B) of only 113% extension of O to X, price almost immediately reversed to the other direction, breaking the secondary bearish trendline. The 88.6% retracement of O to B gave some relief and give me a target 1 hit with the Shark886...
Simple setup entry: 136.608 minimum stoploss: 137.279 target 1: 135.993 (risk:reward 1:0.92) target 2: 135.612 (risk:reward 1:1.48) extended target 3: (127% extension): 134.55
Previous post In my previous post () about a smaller shark pattern and a 5-0 pattern completion, the pair confirmed that this smaller 5-0 pattern really just was a retracement pattern after a failed bearish pushes. This bear weakness was confirmed with a strong bullish move! Reading the chart Getting a bigger picture of the pair really shows the failed bearish...
Reading the chart After a failed push (B) of only 113% extension of O to X, price almost immediately reversed to the other direction, breaking the secondary bearish trendline. Now the 88.6% retracement of O to B could not bring any relief from the bullish pressure. Prediction The second level to watch for is the 113% extension of B to O, which could lead to a...