Price made 5 waves advance from bottom of 29 October and ended on 30 October. Now it looks like be making 3 waves retracement. 1.3122 - 1.3077 area were identified for this retracement to be over and to make rally for wave (iii) towards 1.3360 as long as price stays above bottom of 29 October (1.3041).
Price reached 161.8% extension from the low of 1st October. Could make new lower from here or at least 3 waves pullback. For this Bearish Bat setup, take profit would be minimum 38.2% fib retracement. With Stop Loss just a little above 1.1163.
Yesterday's price action looks like a corrective move. Im expecting it to make a rally towards this completion of Bearish Gartley somewhere between $1515 - $1517. Invalidation level would be at $1524. Still looking for short as the structure from 4th Sept peak isn't complete yet. Target between 100% - 127.2% Fibonacci Extension of 4th Sept peak between $1431 - $1451 area.
Looks like an ABC Corrective wave had ended at the low of $9071. It did not reach 100% fib extension from the high of $13,868. Price could still make a deeper pullback but for now waiting for a small pullback to make wave (ii) (black) before making way to the upside.
A potential bullish bat harmonic pattern.
The structure from the low of 9th July looks to be in 3 waves in subwave. In Ending Diagonal structure should be looking like 3-3-3-3-3, and right now we are going to complete wave ((iv)) before resuming uptrend to complete wave ((v)) towards $1458 - $1470.
So we have an ABC Corrective Wave from peak of 20th Feb. Right now Wave C is underway after Wave B completed at peak $1324. Wave 1 of C completed at $1285 and we have a small Flat Corrective Wave ABC towards $1310 which labeled as Wave 2. Currently we are going for Wave 3 of C. I see another pullback from $1284 towards $1299 for subwave (2) of 3. Final target...
Price made 5 waves move from peak of 25th March and now pulling back in ABC Corrective structure. Also visible here is a Bearish Bat harmonic pattern which also coincides with 161.8% fib extension of AB. Place Short entry in the blue box targeting $1259 which is 100% fib extension from peak of 20th February.
Stop Loss to be placed at 161.8 of fib extension of XA. Deep pullback could come to around 1.14xx handle or even higher but overall target is still 1.0550
A potential Bullish Bat for price continuation upward.
If it breaks below 0.7053, then the next price would come to this harmonic pattern Deep Crab.
Writing here as an educational post showing that we have few technical patterns. Firstly we have the classical chart pattern Head & Shoulder where chart pattern trader will only take a Long trade when it breaks and closes above neckline. Then next we have a Falling Wedge which given a typical chart pattern trader, they will wait for a breakout to the upside...
Corrective Wave B seems to be completed. If price breaks the high of 1.6570, then we will see the completion of this harmonic pattern and next to make move lower.
Identified here one harmonic pattern Bullish Butterfly with ABC Corrective Wave.
Identified one harmonic pattern to complete Corrective wave B to go Long towards C targeting 1.1400.
Might be forming a classic chart pattern Head & Shoulder. Look for Long opportunity.
Daily posted as Bullish Engulf. Could be 3 waves pullback before more downside.
Pair is still in WXY correction mode. Having made X (red) on last Friday to complete 6th swing, now we can see the final 7th swing to the upside between 1.33441 - 1.34170 to find sellers and make new lower low than 1.3180 OR 3 waves pullback and then to make 11th swing to the upside to make WXYZ structure.