patrick186

patrick186

EURAUD appears to have formed a nice weekly bull flag which should take price up to the monthly/quarterly .618 fib... Ideally a major high forms there, establishing a right shoulder within this large H&S pattern and then dropping hard. For the full analysis check out my site, PatsTrades.com Opportunities covered: 1) XAU/EUR 2) EUR/AUD 3) GBP/AUD 4)...

patrick186

My favorite opportunity at the moment and has bumped another trade I really love, EUR/AUD, down to #2 on my list. Price appears to be forming a tidy bear flag on the quarterly/monthly. A break to the downside out of this pattern could easily lead to a retest of the flag bottom at the very least and potentially even the 1980 low which sits right next to the...

patrick186 Updated 

Bunds have not been able to break below this key trendline (blue) which has served as the support for this move since 2014. The path of least resistance appears to be to the upside with a major resistance area pretty far above @ ~180.00. Both the top of the current channel as well as a major trend line connecting the '94 and '99 highs (green)

patrick186

$QCOM established weekly high at resistance, now pulling back within potential inverse H&S pattern. If an entry presents itself with a low/right shoulder my target will be near the weekly 200ma and monthly .618 fib level

patrick186

This is the perfect example of how aligned and connected the markets are. Looking at the price action, we can see that the recent move up beginning in May wasn't produced by any sort of major turn. It just decided to move up. That screams short-lived relief rally to me and could likely end up serving as a bull trap to catch the newbies off-sides. When...

patrick186

Corn has been decelerating for quite a few months now and is currently rejecting key resistance (monthly 200ema/200ma + monthly fibs) with a high-test. Price action seems to be hinting at a turn from here in the near future down to $302.00, the September '09 low that sent us into an enormous rally to form the '12 highest high. I'm watching for a rejection of...

patrick186

Looks like the MSCI Stock Futures may be forming a large head and shoulder pattern here...seems to be confirming and aligning with a high in $EWS and emerging markets in general ($EEM) The bull cycle counts for both $SGP1! and $EWS point towards the major high/right shoulder forming during Q4 '17, and more specifically, around October-November... ----- I'll...

patrick186

Wheat is rallying up to a key quarterly/yearly trendline projected from the major 2008 and 2012 highs which is also the upper boundary of an enormous decending wedge. I'm watching for a high at this area over the next few months to short into a final low (ideally 2019) before breaking out of this wedge to the upside. Bull cycle counts point towards July and...

patrick186

This quarterly trend line projected from the Q4 '08 and Q3 '10 key lows is what has held up this long-term rally and is extremely significant because of that. There's been some talk lately in the trading community about the reliability of trend-lines and whether or not they're useful, judging by this chart I'd say if drawn correctly they're pretty damn...

patrick186

Price has broken out of a 2 year ascending wedge to the downside and is now pulling back to retest the bottom of the pattern before it continues its drop. We bounced off of the monthly .5 fib level last week which formed a fantastic outside reversal candle, taking out the previous weeks low and then closing above its high to finish the week. This aligns with...

patrick186

The foundation is in place for a potential inverse head and shoulder pattern. Ideally price penetrates the neckline/.5 yearly fib to take out that June 2016 high (89.90) before selling off to close below this area with some sort of deceleration/reversal candle. This would form a higher high that could then send us down to form a right shoulder near that major...

patrick186

USDCHF is attempting to break out of it's giant ascending wedge to the downside. Ideally this sends us down to form the final low before the major dollar rally in the years to come. For more in depth analysis on trades checkout my site, PatsTrades. Link is in my profile status box. Thanks!

patrick186

The Dow Industrial Index has been making record highs lately but MACD is calling it's bluff. Something to keep an eye on.... Fibs on the chart are from the most recent monthly rally which began last November. For more in depth analysis on this trade and others checkout my site, PatsTrades. Link is in my profile status box. Thanks!

patrick186

Entry plan is based on the US 30yr T-Bonds Topping Pattern . Watching the fib retrace area for a high that would establish the right shoulder within the monthly head and shoulder pattern. Quarterly bull cycle counts point towards a high during Q1 '18 which aligns with the monthly target of February '18. My trading account would welcome an earlier high with...

patrick186

Entry plan is based on the palladium head and shoulder pattern . I'm waiting and watching for price action to signal a top near the dashed line (drawn from left shoulder's high). Ideally we get some deceleration with a doji candle followed by a high test candle to form the right shoulder and signal a reversal to the downside. The bull cycle counts are...

patrick186

This is my favorite and the cleanest opportunity I have been able to find across all sectors/markets. I've been watching this develop for quite some time now and the evidence for a large sell-off into the future is piling up. The head and shoulder pattern on the quarterly/monthly is one of the best things in that pile. We saw a false break to the upside during...

patrick186

Entry plan is based on the EURAUD monthly/quarterly head and shoulder pattern . Looking to enter with a nice rejection of that .618 and 200 day moving average cluster area to then ride price down to the August '12 low near $1.16 Ideally i'd get in right below that key resistance area around 1.52-1.53~ with a reward:risk ratio of at least 5.5:1 and a stop loss...

patrick186

Yet another beautiful opportunity with a head and shoulder pattern in formation. Price formed a key low at support during February which lined up nicely with the bear cycle count targets. Since then price has rallied up from that low and is now approaching the .618 fib and 200 day moving average cluster, which is the perfect spot for a right shoulder. I'd like...