see chart notes for key ranges and notes
current move is chasing the AB movement into 118.257
XA - 117.016-120.362
AB - 118.257 range, unconfirmed
If AB plays out will update BC next target
If AB fails will nullify the study
XA - 1.38045 - 1.45998
AB - 1.40528 - CONFIRMED
BC - in play awaiting confirmation
AB .382 1.42617 confirmed but exceeded
AB .886 1.45374 unconfirmed but flirting with confirmation
Current leg on deck:
BC 1.272 1.39219
What to look for?
If the AB .886 1.45374 is confirmed then:
CD new target will be:
BC 1.618 1.37554
Chatting on Forex Board with user JohnQuid got me interested in this potential EW pattern for GBPNZD.
If we are in fact on leg 4 looking at key prices:
1.84327 holds price the next target is short to 1.73058
1.84327 does not hold, next stop is 1.97957 and Impulsive Wave 4<<>>5 is in play which is a pretty deep dive short
I will update this...
2 Gartley patterns will be our subject for this study.
Bullish Gartley is the 1st pattern and should be focused on.
XA,AB,BC have completed. CD is in play with a price point of 82.664 as its target.
What to watch for?? if BC retraces down to the AB .886 or 81.606 then our CD new target will be 82.849.
Bearish Gartley is the 2nd pattern.
XA has completed. AB...
The recent EUR/JPY Bull trend appears to be changing structure.
- 117.240 must now be surpassed to further define that changing structure.
- 116.547 range will be our AB leg.
- 117.034 range could then become the BC leg.
-116.415 range is the CD leg then we resume upwards.
*these study's are flexible so updates will come as the day plays out, for now 117.240...
This is my 1st try mapping a potential Bat pattern.
The A/B confirmation is not fully confirmed but a little practice never hurts.
For reference I provided the B/C .382 and B/C .886 potential movements.
B/C .382 retracement is 115.682 followed by a 1.618 extension to 116.35 before resuming the Bear movement down
B/C .886 retracement is 115.010 followed by a...
This pair has consistently tanked into a 1 day retracement zone of 115.07(786) to 117.001 (618).
Seeing that much consistency against this pair means we could be chasing a bottom, possibly.
A recent fib study shows a 1st stop 116.517 (382) did in fact stop a 1st run up twice earlier in the trading session.
I am keeping an eye on that recent fib study to see if we...
30pts up today just isn't enough to reverse the Long Bear for this pair.
4hr Fib study Golden ratio is not that far away. Also a simple parallel channel puts this right into the .786 (115.072) to .618 (117.001) zone which should be expected considering recent efforts made by the market to get down into this trading range.
There is actually a possibility we could...
I've been following this pair movement quite closely today
After dipping below the .786 and not sustaining any price point above .618 it appears we could finally break the current fib study that originated at 118.235
What is very interesting to me are 2 items
- breaking the current fib range means breaking another range with very wide valuations
- the reason...
As much as I enjoyed the last minute rally of EURJPY Friday those final minutes of fireworks may not have been quite enough for a reversal.
- Fridays candle did not exceed Thursdays
- the majority of 1day indicators still begging for a lower price to truly stabilize this before a stable Bull run
- previous Bull Fib study remains our compass
Fib within a Fib
If this then that:
Demarcation is recent Fib .382 121.1004
Bull Up goal (.786) 121.84
Bear Down goal (.618) 120.0016 w/ a beefy 120.4478 .382 stopper on the way down
added zoomed in below.....
Made some amazing trades on this pair last few days.
We are officially out of the golden ratio latest fib study and multiple 1day indicators are pointing towards .382 stopper of pricepoint 120.4478.
My orders are entered short with an exit above that .382
And dont forget to put that stop loss in.
Live to fight another trading day!
Just started back into alt charting today
Waiting for a BTC transfer....
If I could would definitely speculate some XMR
Looks rip to run especially if my other BTC SHort study plays out
Enjoy and Ill add Fib ranges in a bit
While the trading ranges for BTC USD may seem wide please consider how far and fast BTC has come in just 1yr ($400-$1300). Keeping an eye on key fib levels (.382) 1183 and 1121.
Sustained below 1183 trading range is 1007-1080
Sustained below 1121 trading range is 879-980
For any Alt traders this opens the gates for some really nice alt trading in 2017.