First leg of W we saw 3 waves of W and price now seem to make a pullback for X leg. Also i highlighted in my previous post on this pair, there might be a possible Bear Cypher pattern to be completed somewhere 134.75.
Last two weeks, i posted a possible formation of Head and Shoulder on this pair which pointing towards 1.2060. Here shown a possible Bear Crab which will complete somewhere 1.2060 - 1.2075. Also visible in here is a chart pattern of a triangle which about to break with highlighted area to go Long (Look at the area with arrow that suggesting S/R area.) and Take...
The pair should be ending a short term 5 waves advance and should pullback in 3 waves for ABC correction. Pullback can provide buying opportunity. Pair should be ideally heading toward 133.75 - 134.75 area next after making 3 waves correction.
A very high probability chart pattern. After it made 5 waves advance, price is making an ABC correction on a higher timeframe. A very possible Bull Bat also visible in the chart.
Identified a possible Bear Cypher. With EUR/USD currently climbing up in price, we shall see EUR/JPY also making its way for pullback before making another dive down. Still possible to see new low but i'm just highlight the area for the Take Profit for this Short position. Only make Short position when there's visible 4hr bearish movement or bearish candle pattern.
I posted a possible diagonal pattern last week on this pair and now it looks like price has broken and closed below the pattern. Price is now retesting the high and expecting to make movement to the downside. Here i identify a Bull Bat for a possible new high. For now, we will add more Short position with SL at previous high.
What we could possibly see here is a chart pattern Ending Diagonal playing out on this pair. Diagonal patterns are simple technical patterns that offer tight zones of entry and exit. Many times, the risk-to-reward ratio of the diagonal pattern will better than the 1-to-2 ratio. Enter on a break below this trend line as a break indicates a high probability the low...
EURO showing bullish signs. Scenario: 1) If it makes a reversal from here & breaks the neckline, the H & S pattern is most likely to be invalid. 2) If it makes climb towards 1.2075 and makes a sharp drop and breaks the neckline, we will be able to see a valid H & S pattern and expect to be heading towards 1.0600.
After price making a steep down, price starting to make a recovery. Here i marked down a possible Bull Bat harmonic pattern to go Long.
Here shown a very potential H&S chart pattern and also a possible Bull Bat to be completed somewhere 1.4625. Let's wait for it to form right shoulder to determine if it is a valid chart pattern to take Short position towards the completion of the potential Bull Bat shown. If neckline are broken, we may add more Short position upon pullbacks.
My simple wave plotting. Now im calling it to $15k.
Price broke 6/6 high and now may retest 5/21 high (111.42) before potential starting a declined into the 107.00 area.
Few days i posted an analysis on this instrument, price looks to be making WXY correction from low 1.15. We have W completed at high 1.1839 and price is expected to make a pullback towards 1.1670/80 to make X before another leg high towards 1.1960 - 1.2075.
Price hit 1.1830 the 127.2 extension of AB and completing W. Expecting a 3 waves pullback to make X before making new high towards 1.19 - 1.1940 to complete Y. Also visible is a potential Bear Bat harmonic pattern in 1.1940 region.
After it broke the ascending trendline, now price is retesting back the trendline. Awaiting 4hr bearish candle pattern to start putting Short position.
Wait for 4hr bearish movement to confirm the pattern completed.
Price looks like it made 3 waves ABC from high 21st May and low 29th May which completes as W. Here identified a potential Bear Bat which could complete as X and one more low towards 107.xx to make Y.
The pair posted daily closing as Bullish Engulf to complete Bullish Bat harmonic pattern on 30th May indicates price is making upward movement. In the green box i highlighted are the cluster area where price keep retesting for three times before breaking it. Nearest target would be that area which coincides with 50% fib retracement of 24th Jan high and recent...