patrick186

PRO
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About me Financial Trader focused on technical patterns. Checkout my site @ PatsTrades.com for potential trades and analysis.
Joined Greenville, SC p_searles
Checkout my trade ideas and in depth analysis at PatsTrades.com
Markets Allocation
31 % forex 27 % commodities 22 % stocks 20 % other
Top Mentioned Symbols
NG1! 7% | 4 CADJPY 5% | 3 USDCHF 3% | 2 W1! 3% | 2
patrick186 patrick186 PRO CADJPY, M, Long ,
CADJPY: Commodity Currencies Preparing For Major Rally
87 4 2
CADJPY, M Long
Commodity Currencies Preparing For Major Rally

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 patrick186 PRO QBC1!, M, Short ,
QBC1!: Corn Preparing to Turn?
33 0 4
QBC1!, M Short
Corn Preparing to Turn?

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 patrick186 PRO SGP1!, 3M,
SGP1!: Singapore Stock Futures Topping Pattern?
4 0 3
SGP1!, 3M
Singapore Stock Futures Topping Pattern?

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 patrick186 PRO EUBUND, M,
EUBUND: Bunds Bouncing Up?
15 0 4
EUBUND, M
Bunds Bouncing Up?

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 patrick186 PRO W1!, M, Short ,
W1!: Wheat Approaching KEY Resistance
44 1 5
W1!, M Short
Wheat Approaching KEY Resistance

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 patrick186 PRO NDX, 3M,
NDX: NASDAQ Could Offer KILLER value in the future
79 0 5
NDX, 3M
NASDAQ Could Offer KILLER value in the future

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 patrick186 PRO AUDCHF, W, Short ,
AUDCHF: AUDCHF Preparing To Drop (2 Year Ascending Wedge)
43 0 4
AUDCHF, W Short
AUDCHF Preparing To Drop (2 Year Ascending Wedge)

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 patrick186 PRO HE1!, M, Long ,
HE1!: Lean Hog Futures - Inverse Head and Shoulders
13 0 2
HE1!, M Long
Lean Hog Futures - Inverse Head and Shoulders

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 patrick186 PRO USDCHF, M, Short ,
USDCHF: USDCHF Giant Bearish Ascending Wedge
24 0 4
USDCHF, M Short
USDCHF Giant Bearish Ascending Wedge

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 patrick186 PRO DJI, D, Short ,
DJI: Dow Bearish MACD Divergence
102 0 5
DJI, D Short
Dow Bearish MACD Divergence

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 patrick186 PRO US1!, M, Short ,
US1!: US 30yr T-Bonds Ideal Entry
15 0 4
US1!, M Short
US 30yr T-Bonds Ideal Entry

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 open ...

patrick186 patrick186 PRO PA1!, 3M, Short ,
PA1!: Palladium Ideal Entry (November)
41 0 5
PA1!, 3M Short
Palladium Ideal Entry (November)

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 pointing ...

patrick186 patrick186 PRO US1!, 3M, Short ,
US1!: US 30yr T-Bonds Topping Pattern
11 0 3
US1!, 3M Short
US 30yr T-Bonds Topping Pattern

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 patrick186 PRO EURAUD, M, Short ,
EURAUD: EURAUD Entry Plan (Late 2017)
86 0 6
EURAUD, M Short
EURAUD Entry Plan (Late 2017)

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 patrick186 PRO EURAUD, M, Short ,
EURAUD: EURAUD Long-Term Topping Pattern
42 0 5
EURAUD, M Short
EURAUD Long-Term Topping Pattern

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 ...

patrick186 patrick186 PRO CADJPY, W, Long ,
CADJPY: CADJPY Entry Plan (Late June?)
35 0 6
CADJPY, W Long
CADJPY Entry Plan (Late June?)

Entry plan is based on the CADJPY weekly and month head and shoulder pattern. I'm looking to enter around the .618 fib area if we get a nice low, ideally a low-test of some sort. Time will tell.... My goal is for the reward:risk ratio to be at least 5:1 with my target sitting between the quarterly .618 fib level (94.4) and a monthly/quarterly trend line which ...

patrick186 patrick186 PRO CADJPY, W, Long ,
CADJPY: CADJPY Inverse Head and Shoulder Pattern
24 0 2
CADJPY, W Long
CADJPY Inverse Head and Shoulder Pattern

CADJPY is in the midst of forming a huge inverse head and shoulder pattern on the weekly and monthly time frames. I'm now watching for a key low near the monthly .618 fib and major trend line which ideally would give us our right shoulder. Ideal target is between $95.00 and $97.00, I'll go over specifics in my entry plan. Checkout my website (in profile status ...

patrick186 patrick186 PRO XAUUSD, M, Long ,
XAUUSD: Gold - Major Bullish Wedge
175 1 9
XAUUSD, M Long
Gold - Major Bullish Wedge

Gold has been moving within this giant bullish wedge for quite some time now and is now attempting to break out. This could be an amazing opportunity to play a huge rally if price breaks out of this pattern and then pulls back for a retest. The first major area of resistance awaits near the July '16 high around 1375.

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