Bullish Hammer candle on support line (A)
Price finds support on 55 & 100 moving averages.
possible resistance at resistance level (B) and downward trendline (C)
I recommend to move stop loss to entry point at this point since a possible reversal may occur.
Share your view.
Downward resistance break out with bullish engulfing.
Engulfing on support level & 55 moving average.
Enter on engulfing confirmation.
Stop loss below engulfing.
Weak US labor force and democratic control of government means a lot more stimulus.
This supports a weaker dollar.
Do you agree? Share your view:)
Harmonic Pattern - Short
Large bearish engulfing candle confirming the pattern validity.
Classical approach take profit at 38.2 & 61.8 AD retracement.
Alternatively you can use resistance levels and/or moving averages as TP
Many bullish signs:
55 SMA Breakout
Strong bullish candle
On 1H chart 55 SMA becomes support after acting as resistance
You can enter now
Stop loss below channel at around 0.8809
You can also wait for corrections and entry on a lower timeframe
Comment what you think about this trade
Short at 1.3581
Stop above point D
Take Profits at 38.2 & 61.8 AD retracement.
MACD Divergence supports this trade
Watch out for the Daily support and the wedge formation.
Comment your view on this trade:)
On a weekly chart we see a MACD & RSI divergence.
But that alone is not enough. We need to see a reversal pattern and/or structure breakthrough.
So lets dig deeper:
On a 4H chart we see a double bottom, with the second leg being a bullish engulfing candle.
Moreover, this is accompanied by a MACD & RSI...
Downward Wedge bullish breakthrough on 4H chart.
Technical show a MACD & RSI divergence.
You can Enter Trade at current levels.
More conservative traders can wait for the price to retest the wedge pattern.
Stop Loss at 0.8846 (below last low of wedge ).
Suggested take profit levels shown as white horizontal lines.
Engulfing & Shooting Star reversal candle on rising wedge
MACD Divergence + RSI divergence (not shown in chart)
Take profit levels and stop loss shown on chart.
Tip: set the TP levels a few pips higher.
Share your view
A bearish Gartley Harmonic Pattern has formed.
A large bearish Engulfing candle goes through the 78.6 XA and through the 1.41 BC.
The engulfing candle is located on a resistance level.
Stop Loss above point X
Take Profit at 38.2 & 61.8 AD
NZDCAD Short Idea.
Formation of a butterfly pattern with a tight convergence on the Potential Reversal Zone (PRZ) levels.
PRZ converges with a rising resistance line.
On a 4 hour chart we can see a large engulfing candle with a MACD Divergence.
Stop Loss at 1.41 XA
Take Profit 1 at 38.2 AD
Take Profit 2 at 61.8 AD
Bearish Butterfly on FX:AUDUSD 1H chart.
High risk traders can enter now.
A more conservative approach would be to wait for a reversal candle.
Resistance trend line reached.
MACD Divergence on 4H chart.
Stop Loss at 1.618 XA
Take Profit at 38.2 & 61.8 AD.
Comment your thoughts and ideas.
Contrarians are always welcome:)
Rising Wedge formation + false break at the 5th point.
This is in conjunction with a MACD Divergence.
On a 4 hour chart a shooting star reversal candle is present.
Short at 0.77017
Stop Loss at 0.7036
Take profit at support/resistance along the way.
This trade idea supports my larger active trade shorting the NZDUSD based on a harmonic pattern -...
EURUSD has reached a resistance level.
On that level we see a large downward movements + MACD Divergence + Shooting Star reversal candle on 4H Chart
Enter on reversal candle confirmation.
Stop loss above the candle.
Take profits along the way at possible reversal zones.
A bearish Crab Harmonic pattern has formed on the kiwi-dollar.
We have a 0.618 point B (within 3% margin)
We have a Potential Reversal Zone (PRZ) of 1.618 XA & 3.14 BC at point D.
PRZ connects with resistance line (dotted).
On a 4H chart we see a MACD divergence.
Look for reversal candle to form to enter the trade.
Stop loss at 2.0...
A bearish Gartley Harmonic Pattern has formed.
We see a almost perfectly symmetrical AB=CD pattern forming inside a channel.
High Risk: Enter trade one all levels of the Potential Reversal Zone have been reached.
More conservative: Wait for a reversal candle on the daily/4H chart.
Take profit 1 at 1.3129 (38.2% AD)
Take profit 2 at 1.2949...
Bearish (perfect) Bat on an hourly chart.
Also, Shooting Star reversal candle on the downtrend.
Enter at 1.1807
Stop at 1.1835 (above X)
Take Profit 1 at 1.1794 (38.2% AD)
Take Profit 2 at 1.1775 (61.8% AD)
Beware of possible reversal at the support line (1.17954).
Simply put, we have a nice bearish AB=CD Harmonic Pattern.
On an hourly chart we have a bearish engulfing candle right at the 2.618 BC projection - completing the Potential Reversal Zone (PRZ)
Classically, Take Profits at 38.2% and 61.8% of the AD move.
Notice that the downtrend shown might become resistance so make sure to tighten your stops at that...