This is looking to be a nice set up for a 61.8 AB=CD pattern. The weekly is in a downward trend. The daily price has numerous rejection wicks around this level of structure. I expect a bearish AB=CD pattern to complete. Again, I will be looking for a trendline breakout and divergence before entering.
Price is about to retest an area of structure and ascending trendline. Rejection trendline evident on smaller time frames. Price is currently within an existing AB=CD pattern.
This is for education purposes analysing a successful harmonic pattern / 61.8. This was from a Gartley which is a very powerful harmonic pattern. The price completed a Harmonic pattern with values very close to the desired out come (only a few points) Price found a level of support from the structure. There was Divergence evidence in the lower time...
Price was ay Point C (61.8). I was aiming for a AB=CD pattern. Price has now entered a consolidation zone inside the Triangle. Price can go either way when dealing with Triangles. There is a small ascending wedge forming inside the channel. I've marked it to watch but I don't plan to enter until after a triangle breakout. There is divergence on the daily...
AB=CD pattern is being painted by Price. Weekly trend is bearish Daily shows a strong bullish movemen which has retested the consolidation zone. The price has not made it to the larger 61.8 level, finding a position in between. From the one hour time frame there is a clean AB=CD retesting the previous structure. The trendline has been broken. There is also a...
Price is at the 38.2 Level Look left there is some strong structure highlighted by the yellow box. RSI has closed below 50 which is selling territory I would like to see what happens on Monday. I do not expect price to break such structure. Also notice the candle that has formed on the 4hr However I have marked up an example of using small risk to great reward....
As we can see the C point is from the 61.8 AB=CD Pattern. Price completed the Head and Shoulders pattern. 4Hr chart shows rejection wicks below 61.8 level. 1Hr chart shows a breakout of the trendline 30mins shows divergence Risk could be as low as 23 pips if taken from Fib 50 line. Reward target 1 = 80 pips at .27 extension. (But this trade could continue...
Price has formed a nice AB=CD pattern. It has rejected the 61.8 level at point C. Take profit could be as much a 435 pips. A tight entry could a very nice risk reward. There for Risk reward of 13.5 or 4.4. A nice rejection pin bar has formed, so a stop placed a bit beyond that is my preference. Currently I can't see any sign of divergence. I have seen a...
Pattern is nearly completed. Price is making its way to area of structure. 1.27 is beyond it however expect this to be the reversal zone.
I expect price to start to squeeze more before breaking out of this channel. Personally for an ABCD pattern I would like a strong reversal around the respective Fib lines. There is strong divergence forming.
Price is currently following an ascending wedge. The price is almost at the peak of the wedge. Price has stalled at the 61.8 level from the last major swing. I expect at least a short sell into the the wedge or, for more security, wait for price to break out of the wedge and use a smaller time frame for entry to reduce the risk.
This is the type of harmonic I am looking for. Downward trend. Harmonic for Sell signal Price has broken out of the trend line and retested. (I was late for the first entry) Next move was a Fibonacci retracement at the 50 level. Risk is 25 pips Reward can be upto 240 pips so nearly 1:10 risk reward. RSI is below 50 and on downwards trend.
GBPCAD is sitting at 61.8 Level from daily chart, weekly is downward trend. Appears to be forming a double top. Would give further bearish momemtum. The 61.8 AB=CD pattern is shown. With a good reward to risk factor (with small lot size) I will only paper trade this as an exercise. However entry would be below tweezer tops. SL just above. TP down to Leg D....
From the daily chart Bearish engulfing candles followed by Pin Bar. Rejection from 61.8 level. Divergence is evidence on Stochastics. From the 4 Hr & 1 Hr Divergence evidence on both Stochastics and RSI. Tripe top has formed and unable to break above the 61.8 level. Risk Reward Based on a Sell entry when price breaks out of the consolidation box and...
AUD CHF has been moving towards a wedge pattern with higher highs being made. I will be looking for a breakout of this wedge to the down side. First, price will need to break and retest the wedge. There is divergence on both RSI and Stochs from the 4hour chart, The Daily chart shows price is at the Fib 50 level from the last major swing.
Price is stalling around the 61.8 Level with a retest (double bottom?) Divergence evident on Stochs 4hr. Will wait for the new week before deciding.
From the chart we can see there is a Cypher Pattern forming. The Price needs to pass through this area of structure. I will continue to monitor either way I expect a bullish movement.
Awaiting breakout of ascending trendline. Price is reaching area of strong structural resistance. Will look for a Short until the next deep purple trendline. Some may argue there is a harmonic pattern inside but I am not 100% convinced based on the ratio.