MohamedMagdy

MohamedMagdy

For Educational purpose Sometimes Garrtley comes within a corrective wave AB which comes after wave 5 and the completion of the point D of the Gartley represent the end of wave B and the start of Elliot wave C

MohamedMagdy

bearisk shark

MohamedMagdy

Bullish Butterfly with AB=1.27CD AND STRONG SUPPORT @ 1256.56 TP1@1268.34 Risk/Reward = 3.26 TP2@1275.75 SL < 1254.82

MohamedMagdy

Wait for the retest at the SHS Neckline and RSI Confirmation with bearish candle stick pattern There is a reciprocal ABCD about to be formed shown with pink lines

MohamedMagdy

Bullish Shark Ratios B (XA) = 0.618 Maximum C (AB) = 1.13 ~ 1.618 D (BC) = 1.618 ~ 2.240 D (XC) = 0.886 ~ 1.13 StopLoss Below D Targets : 0.382 & 0.618 CD of CD Go Long when point D is completed according to above ratios and when it is confirmed with oscillator such as RSI Divergence

MohamedMagdy

Wait for the up side ABC Correction soon @ 1.618 or maybe the 2.618 levels

MohamedMagdy

Bullish Inverse ABCD indicated by the yellow lines . I missed the entry and now am waiting for a retest to re enter with a minimum risk . SL Below 0.6803

MohamedMagdy

NZDUSD 15M Bearish shark with inverse AB=CD SL @ 0.68425 TP1 @ 0.68225 WITH RISK/Reward Ratio = 0.85 TP2 @ 0.6811 WITH RISK/Reward Ratio = 1.93 RSI & STOCHASTIC DOUBLE TOP CONFIRMS THE SHORT TRADE

MohamedMagdy

0-5 PATTERN

MohamedMagdy

THIS ANALYSIS IS RELATED TO THE LINKED BELOW IDEA

MohamedMagdy

I DO NOT KNOW IF THE COUNTING IS CORRECT OR NOT AS AM NOT STILL LEARNING ELLIOT WAVE , BUT WE ARE NOW IN AN UP SIDE CORRECTIVE WAVE ABC AND BUY POSITION CAN BE PLACED

MohamedMagdy

This historical technical analysis for GBPUSD just for learning purpose to show to you the use of Harmonic Patterns as a Powerful tool of technical analysis . You can consider it a tutorial First , the Buy Entry 1 in line shown in the green box was confirmed by the completion of point D for 3 harmonic patterns which are The Bat , The Crab and the Inverse ABCD...

MohamedMagdy

THE ABCD OF THE BUTTERFLY IS NOW AB=1.618CD . IF PRICE DID NOT REVERSE UP FROM THAT LEVEL THE BUTTERFLY WILL BE FAILED AND THE LONG POSITION SHOULD BE REVERED AS THE PRICE IS GOING TO BREAK BELOW A MAJOR DAILY TREND LINE

MohamedMagdy

Three ways to draw that bat , the only difference in those 3 patterns depends on the point X you choose to start drawing your pattern ! . Notice the move of point X along the upper tail in the red box which is between the 2 orange arrows , that variation of your point X within the right red box will yield a big reversal zone in which point D will be found to...

MohamedMagdy

This is risky . you should wait for the end of the current candle to place that buy order specially there are some news regarding US coming stop loss below 1.13784

MohamedMagdy

IN THE 15M CHART , RATE IS ABOVE THE 200 SMV which is a goog indication of possible bearish direction reversal . in the 1hr chart , there are two possible harmonic patterns are forming , the first is bat and the second is crab as long as the price rate is above the level of point B AT 1.14088 we can go long and make some pips till the completion of the bat...

MohamedMagdy

will be waiting to go short if that AB=CD Pattern completed ideally with confirmation of any oscillator such as RSI divergence AND a candle stick pattern ! The Bearish Trend Line is still strong specially when it goes along with the 200 SMA Stoploss should be abobe 1.13874 which is a tail of an inverted hummer confirming the bearish direction We will see :)

MohamedMagdy

This is a Highly Risk trade as the overall market direction is bearish Wave AB = 46 Bar within 3 hr , 50 m Wave CD = 47 Bars within 4 hrs Seems to be an ideal AB=CD Pattern Go Long to the first profit at 1.13825 & stop loss below point B