Price action confirmation on Daily Chart Entering short looking for decent swing trade lower
If the stop fails then a perfect Cypher completes directly below I prefer the bat as it is lower risk, but we will see
Well... it took a while!! But.. we are setting up some potential longs here as well... Bullish 5.0 on this chart.. see lower time frames for other bullish setups
Also a bat at 77.23 but very early days, there is a 70pip range from 78.55 - 79.29 should hold support There is an unclosed gap at 84.65 should could be a nice little rally from this zone
As per last post/ monthly chart cluster + longer time frame butterfly level 4hr chart showing signs of 3 drives + shorter term butterfly level Need somewhere to hang a stop loss, so I am going to wait for a price action clue - hopefully a small clue!!
Bigger picture butterfly... see the lower time frame for shorter term butterfly This coincides with a larger monthly fib cluster level (see earlier post here ) Saying that monthly levels are a little spongey and I do not trade butterflies without a small candlestick confirmation so am looking for clues to short!
Starting to look a little stretched now as been going on a while would not be surprised to see the market break lower Strategy is the strategy so see what happens... t
Gone for slightly more conservative targets than usual for bat pattern as there is a Cypher in there as well... If it goes to plan could be a nice bullish pattern around 0.9270
Daily levels of interest 1.2620 and 1.27287 Need a price action clue at 1.2620 to take action but will likely short the bat level
AUDCHF possible bearish Shark Patterns 2x levels 0.72660 or 0.73154
Interesting lesson I learnt... Looking at near misses and impact to performance... left 11% on the table for not allowing another 2.3 pips for the spread at entry Hopefully this prompts others to keep a journal and keep reviewing and looking for ways to get better!!
Looking to buy, second target is also a possible stop and reverse short zone based on a longer time frame pattern and monthly key levels
See lower time frame chart 15 year Bat pattern
Stop is too big for me at 275 pips but looking for lower time frame entry to get long
Buying a little lower than 78.6% at demand level around 0.7485 Had a lot of near miss entries lately so adding 2 pips above the level for order
Short term? Um... No. Taken profits on my Euro shorts, just entered long EURCHF this morning (NZ time) at 1.0314 Would like to go long EURJPY as well if I can find a long entry somewhere as it is at longer time frame demand and hit my short target this morning Now there is a nice gap to close which lines up (above) my predetermined target - no need to be...
Harmonic are great for trading corrections, while not perfect they offer good R:R and a decent win% AUDCHF is currently in a range that I have been playing on both sides, right now I am currently short based on the bat pattern and taken T1, orders are set to go long on the bullish cypher just below This happens quite often on any time frame, so it is just...