Thumbs up and follow me for a possible short could be in play here at the top of the channel and with an ETP-1 pattern. Will need to make sure it happens in the 1.13 time extension and will check sonar but could be a possible position but will look again as price gets higher up. Should scale in too..
EURNZD is showing up at an area of support. Price is strong now so we want to see it reverse within the green zone. Check out some of the other patterns i've marked in and feel free to follow me if you want more. Thumbs up for this eurnzd!
AUD is seeing price drop pretty fast so we'll have to see if this mild support will hold. There is a better level before it, but based on the time frame we could see a bounce at that level where the RTP-2 combines with support.
This is a potential trade that has a greater probability of price NOT working out. However with this being said, IF the price was to come down this quick we could have a good potential long trade with a thin area of support on this XTP-2 Pattern.
As a RTP-2 pattern it checks all the boxes. The only problem I have with this one (which I believe is important) is there is no support that could add an extra chance for this bounce to happen. With that being said the XABCD pattern could be played as a pattern on it's own but I'll perfer to wait for support and the XABCD to come into play together.
The chance of this pattern getting down to support is slim but IF this was to happen, then we know what we should all be considering. A pattern with a reversal at support is a pretty clear way to play this bounce if it happens. Attaching an ETP-3 pattern we published earlier if you want to see how it works (attached).
I've learned patterns need to complete...
Looking for BTC to continue to call until we get to an area of support which is projected to happen at this ETP-2 pattern. The time will start once price is in the entry and looking for the reversal to happen before the 1.13 time extension. I know a lot of people might not think the BTC will get this low, but I"m saying, IF it does, this is where we could...
With the size of this ETP-4 pattern , we're looking at scaling since the reversal area is so large. The support is in a great area so we'll be looking for price to bounce anywhere between current price and the support lows. The bounce here should be a wide area but an area that should be quite noticable and a good area to put a stop.
Not a big supporter of this move but resistance is good. Almost into the 1.41 fib time extension so the trade might not even fire off before probability runs out. Attaching a gold chart to this one too in order to see where the commodities are all going.
Too early to tell about this trade until i see the sonar results but the setup is a potential for the week ahead. I like the risk vs reward and the range bound with the pattern so this is good. Need to check news, price action when we enter the reversal but over all the setup is one to watch. Thumbs up if you agree!
This RTP-2 XABCD Pattern came on my radar and support is the only questionable thing about this pattern. There is another level of support here at 75.00 so I'm looking at both this area and the one below it. Some divide the position between the two but we'll track this one and see if it goes down to the lower support or bounces here. FX:USDJPY