A few more candles to pattern completion. Have to trade this is lil extra cautions, as the price might move beyond the Potential Reversal Zone to have a 2nd test on the Support Zone. Thus, the Stop Loss has to be placed correctly or even adding in some extra buffer but remember not to compromise the Risk:Reward Ratio.
This is an interesting setup with H4 Bat Pattern Potential Reversal Zone overlapping at the Daily Resistant Zone.
With these 2 factors comes together, it should increase the probability of a shorting opportunity trade.
Alert has been set for price action observation around the PRZ to engage the trade.
This Bat Pattern Potential Reversal Zone is within the Sell Zone makes this setup a higher probability trade.
Sign of divergence + rising wedge has appeared.
Will engage this trade once a rejection candle show up.
I wasn't convinced with the candle that completed the Bat Pattern.
And now, there might be a check back for entry.
Would need a better confirmation for entry as the selling pressure is still relatively strong.
A Shark Pattern is near completion at 1.1361.
However, there is no sign of the buying momentum slowing down.
It might just bash through this Shark Potential Reversal Zone and go towards the Day Carb Pattern PRZ which is just right above.
Candle confirmation is needed to engage in this trade.
The Shark Pattern has completed. I will have to wait for a check back for engaging this trade.
The recent upwards retracement is a concern to me because the market might be a continuous downtrend.
I will wait for a confirmation candle to engage the trade.
A Deep Gartley Pattern is approaching the Potential Reversal Zone.
However, the Flag Pattern forming up right before the PRZ is a concern to me.
I will check back on this pair on next Monday to see if there is any buying opportunity.
Price is dropping after the recent test of the Daily Resistance Zone.
2 possibilities might happen. 1 — price continues to drop. 2 — price goes into ranging after the recent test of Resistance Zone.
I'm more inclined toward possibility number 2. Because the price is showing some reversal candles at the Shark Pattern Potential Reversal Zone.
Price has come back down after hitting the resistance zone and formed a new Lower Low and a Lower High.
Would this be the end of the AUDJPY bullish trend or it is just a retracement and rally higher?
What do you guys think?
This Shark Pattern Potential Reversal Zone is in the Sell Zone which increases the probability of this trade.
Plus, the recent USD price been dropping like it's hot.
Awaiting for pattern completion to engage this trade.
A bigger Bat Pattern has formed up after the smaller ones went invalid.
The current price is testing the resistance for the 3rd time near the Potential Reversal Zone.
The price seems to react to the PRZ with 2 previous candles closed with a long shadow.
I will decide to engage a trade after the current or next candle closure.
A Shark Pattern is completing at the H4 Resistant zone.
The Resistant Zone has been tested twice and going for the 3rd time.
Will this 3rd test hold up with the bullish price?
I am awaiting confirmation for a shorting opportunity.
Price weakens the H4 Support Zone by going back up and forming up a bearish Bat Pattern.
This might be a potential trade as it is a trend trading + take profit 1 is before the weakened H4 support + a potential RSI divergence.
I am awaiting the pattern completion and confirmation to engage the trade.
A Butterfly pattern has completed at the Potential Reversal Zone.
However, the price might just retest and drop further at the Support turned Resistant zone before our Take Profit Level 1.
I might not engage in this trade. What's your take?
Price is still ranging within the H4 Support & Resistance.
A Butterfly Pattern has completed after the previous Deep Gartley.
Can you spot the Bat Pattern also? Both pattern's Potential Reversal Zone are overlapping.
I will wait for a few more candles for confirmation entry after that strong bearish movement yesterday.