About meI'm Nick. I trade the Forex markets via price action and harmonic pattern study.I hope to share with you an in depth look into my personal market analysis. Always follow your trading plan and risk management rules.
My viewpoint is long near long-term low structures
We have some fib confluence at an inner trend line
The purple horizontal line also represents the 886 fib level and a bat pattern completion
Looks like time to buy, entered in at the 1.618 level.
Will enter other half of position at bat completion
In this analysis I highlighted a double-top formed off during last week's trading
We now approach the downwards sloping trendline and the structure zone (red box)
I will be building a short position. This trade has two target areas, each represented by a green box.
The red horizontal line and green horizontal line on top and bottom of the chart represent the D...
Gartley at AB 1.27 extension & 886 retracement completed
ABCD pattern also completed (black dotted lines)
I am long at 1.1152
Target is the 382 because I am still overall bearish on this pair
Entered a half position , will add to position if we drop more which we have some space to allow for
Stops just below X structure / 618 extension
I have tightened up my...
Head & Shoulders/ Libra Pattern forming.
I am short from .8525, more conservative traders can wait for a neckline break and close, or a break and retest (or 618 pullback) in order for confirmation that bears can take control of the market. Target is the green box structure zone.
Symmetrical triangle trendline broken to the upside and we now have a small pullback/flag where I have gone long in hopes of a continuation move.
More conservative traders can wait for the flag line to break.
Good risk reward on this trade.
Selling the trendline pullback seems like a good idea. Confluence with a 382 Fib retracement and structure level.
Watch price action for a sell signal, or entry order at the trendline.
More conservative traders can scale into the position slowly adding as price goes higher with stops above the latest structure high (above .7570).
Not looking for buying...
I posted yesterday a detailed analysis for a reason to enter long USDJPY
Now the pair has given a perfect opportunity to illustrate the meaning of "have a plan."
"Buy low, sell high."
USDJPY has turned to the upside momentarily and can potentially complete a bearish bat pattern around the 104 even handle level.
I dont know which way price will go from here, or...
USDCAD has reached the top of the range from the previous couple of months, "buy low, sell high" principle now applies.
Looking for a short in this structure zone that contains a fib inversion and a fib extension confluence.
I am short from the blue trend line touch at 1.4960 on the 4 hour chart.
This is a good opportunity to add to my position or to enter a short position as price is forming a pullback on the one hour chart.
Selling the break downwards seems like a good idea.
Patience is now key as we watch USDJPY approach the green rectangle buying zone.
We have a Gartley pattern completion at the 1.27 extension of the AB leg, and we also have an ABCD move completion at about the 100.00 even handle.
Will also monitor the RSI and MACD when entry time arrives.
Stops should be below X according to your risk rules.
The double top at the top of the chart has in fact finally reversed price as bears took control of the market
The neckline has been broken
Will now wait to see a retest of previous structure levels in the potential reversal zone (green rectangle)
Look at price action for shorting opportunities here
The 618 retracement would be most ideal, but it was a pretty...
We have reached an important level with GBPJPY
Trendline and structural level support insinuate a trend continuation trade
I have opened a SMALL long position with a tight stop to feel out the market, will add to the position if price action gives me more evidence of bulls taking control of this market
If we break downwards will wait for a retest and probably jump in short