Last week I alerted you that price was bracketed by a Gartley and Bat pattern. As it turns out the Gartley never got to the PRZ but the Bat Pattern was filled earlier this week. After hitting the PRZ it shot up and took out both targets. Total profit was +130 pips with a minimum risk reward ratio of 2.25:1. That's the power of Harmonics. Good Luck
We have price bracketed by two different patterns. The bat pattern would be a good area to look to get long while the Gartley is an area to look for a quick short. The Gartley is positioned at the near term high which should provide good protection. Good Luck Please put your comments and ideas below.
Canada cuts rates and this pair finally breaks above the highs at 1.2830's. "IF" this retraces back to 1.2830's, I will be there waiting for a long entry. Perfect example of using former resistance as support. Good Luck Leave your comments and ideas below.
Pound has been extremely strong compared to the Kiwi since mid April. After a massive run up, we are showing signs of weakness. This could be a temporary stalling but it also could be the pair getting reading to breakdown. We have not broken below the channel but look to have a chance to complete a head and shoulders. Head and shoulders patterns are reversal...
It's decision time for the EURJPY. This pair has been pushing pretty hard to the downside, as most Yen pairs have over the last few days. After putting in a higher low and high high, a break below 133 would be a major bearish signal. However, if 133 can hold we begin to put in the opportunity for 800 pip head and shoulders pattern. Good Luck As always, please...
This pair has been making a bee line to the top side. However, at this moment it looks like there are a lot of significant levels and patterns forming on the pair. Starting with the most basic form of technical analysis first, the 2015 high (and the highest point since 2009) is sitting at 1.2833. Be ready for this area to provide definite resistance. If we break...
This pair is showing a pretty big divergence on the 4 hour chart. Could be a good area for a quick trade with small stop loss. Put stop loss above highs with first take profit just below 1.2550.
This pair is holding the upward trendline from mid April. Since mid June however, we have put in a downward channel. Both of these have held. Look price action as we near the top of the channel. This area coincides with the .382 and horizontal resistance (red line). A break of this area will put in focus the top of the triangle. A touch of the top of the triangle...
After what has proved to be a great rally just like last week. The pair is hitting a resistance zone from previously broken lows. I am still short this pair from before (). I think this is a good area to look for a double top. Depending on how aggressive you are, you can short from here or wait for a double top confirmation.
Pair is looking to close the gap today in the upper 123's. At this area we have a decent amount of resistantce which could set up for a nice short. NFP is tomorrow morning so be aware of that. Also keep a eye on Greece and PR as USDJPY is a measure of risk sentiment. Good Luck
We have trendline and horizontal support here. Take a look at the S&P and we're at the same position. A break on the daily and close below 122 makes this pair bearish to me. Good Luck
Canada GBP printed at 1.2% vs 1.5% expected. If we are going to see a rally in this pair it needs to break resistance at 1.24219 (blue line). A failure to break this would show me there's too many sellers still there. Good luck
Looks like a pretty simple setup. The .382 (larger leg) and the .50 (smaller leg) coincide at exactly the same area .6814. As we near this area, could be a good time to place a short. Good Luck
A major rally today but so much lies ahead. Tuesday marks debt repayments and bailout expiration. Wednesday will be ECB. Sunday is "Greferendum". Understand the EUR pairs will have high volatility moving forward. Im going to take two half positions. When target 1 is hit, we roll our stops to breakeven.
We are closing the massive gap from this past weekend. This is an area that I will start to look to build into a short position. Building into a short position means taking much smaller position sizes than normal and buying/selling at different levels. For example, the current 1.1146 could be my first position (25% of normal position size) with 1.12 being my...
Currently there is a bearish bat pattern setting up within a rising channel. If you look at the pair from the 4 hour, you will see we had a massive drop off followed by this rising channel. This could be setting up for the next drop lower. We are not really concerned with that, all we are focusing on is the action within the channel. But, could be something to...
This could be a good area for a long. We are looking at the .382 fib level that comes in a the same place as the daily pivot and the 100ma on the hourly chart. Of course this is an intraday trade but it could be something worth looking at. Good Luck!
Currently nearing a break of the bullish trendline. Coincidentally this is the same area as a head and shoulders neck line. A break and close could spark a breakout. The overall head and shoulders pattern is around 1000 pips which would put us around .8500