Line of sight
A butterfly wants to fly. But wait..is it a Shark waiting to take a bite?
Going up to fast
The butterfly is going up (too) fast. Or is it?
RSI (7) is going too fast compared to how much it is retracing..
If it is heavily oversold at the first line of defence, this could be another trend following setup..
If it is heavily oversold at the...
Overextended with a 1.113 extension
After the final breakout, the pair tried to extend even further. However, this extension did not hit the 2.0705. This tells me that this pair is done extending for now.
Therefore I shorted this market from 2.0504 hoping for a retest of the psychological level 2.000.
This pair got stuck in a triangle after a big push up. The broken midline of the longer term uptrend channel still acts as support. Counting with the Elliot triangle wave a C point has been established.
Bearish Gartley pattern
Measuring the moves from point B, we can also see that this pair is confirming a Gartley pattern. The completion point of...
Stuck in triangle, counting the Elliot waves
This pair got stuck in a triangle after a big push up. The broken midline of the longer term uptrend channel still acts as support. Counting with the Elliot triangle wave, you can see that a C point has been established.
Shortterm short with a bearish Gartley pattern
Measuring the moves from point B, we can also see...
Bearish deep crab
This potential bearish deep crab has a very large reversal zone.
It starts from 2.0744 (2.618 extension of BC) and ends at 2.1418 (3.618 extension of BC).
However, this PRZ can be capped by the channel, the very high of 2009-7-10 and the (psychological?) level at 2.1000.
If the pair heads up to this PRZ, I expect the pair to be volatile. The...
After missing the entry, the pair retraced 38,2%.
Over the past two weeks this pair has consolidated between 140.72 and 138.00.
These two levels are:
- a weekly structure zone @ 61.8% retracement (140.72)
- a midline of an monthly upward channel. (+/-138.00 and rising)
If the pair won't go beserk with the uncertainty...
I use the harmonic alternative bat in conjunction with channel as my entry technique to go long. With this entry I'm taking an agressive CD leg of the AB=CD pattern.
Also, RSI is showing sold out conditions at the 4H. The Daily chart is showing a tap to the midline of the Bollingerband and a RSI stalling at the 50.
My stops will go below 0.7213. Still the risk...
Initial breakout failed of the the triangle. Now I wait for the price to retrace 0.786% of the initial breakout move at 118.916
At 118.916 I will go long with the completion of the Cypher pattern.
Since this setup is in anticipation of a real breakout, I will be shooting for extended targets at 121.62
In my previous post "Stophunters at the ready.." I was expecting a bullish bat formation. The breakout appeared to be false and the market was already pricing in another rate cut of the RBA. (see note 1 on the cart).
However, the RBA decided not to cut the rate recently. And sure enough, the market failed to continu its path to the north. (see note 2 on the...
The markets appears to be trending within an 3 drive uptrend channel. However, when drawing some fibs from March 2013, I saw the 0.236 retracement level has not been touched yet.
So this got me thinking.. If i was a BIG investor/trader with lots of money, at which levels should I be looking at?
Well, drawing in some more fibs from 2014-09, 2014-11, 2015-01 i...
Reading daily price action
There was a significant selloff at the end of the 3rd bullish candlestick. The bears even pushed the price lower than the previous bullish candlestick. On that same day the bulls tried to regain control, but were unable to close at the opening of that day. This resulted in a hanging man. The day after on friday the 20th of March the...
** Update: first target obtained for a total of 97 pips. The stoploss of the remainder position is set to breakeven.
The goal with this trade is to grab some pips fast with two (relative) small targets. The market did react at the beginning of the monthly structure zone of 0.7091 - 0.6335, giving the pair a little relief.
However, the overall trend is very...
An initial test of the 0.7091 - 0.6535 range has taken place. This test could mean a temporary relief of the downward pressure. Now with this in mind i see a few opportunities to trade this pair.
The first one is a so called 2618 setup. For those aggresive C to D pattern traders, the 0.618 retracement at 0.7073 could be a turning point to go long.
The second one...
I've spotted two potential bearish patterns completions which lines up with the beginning of the major resistance zone of 122.93 - 126.87.
At the rate of 123.54 completes a bearish butterfly pattern. At the rate of 122.99 completes a deep crab pattern.
These two patterns in conjunction with the major resistance zone gives me a PRZ of 62 pips to keep an eye on.