The market has presented us with two possible outcomes: 1) a bearish Bat or 2) a bullish Cypher
One of these patterns is guaranteed to complete - it doesn't mean that they will be winning trades. My bias is towards the bearish bat pattern as the trade would be in tandem with recent bearish momentum and risk off sentiment in the markets.
The market has printed a bullish Cypher pattern on the daily chart of the EUR/USD. The pattern completed at a decent level of structure and as of now is trading below the traditional entry level for a Cypher pattern. The DXY had a bullish run today, however, a bearish Cypher has completed on the daily chart of the DXY at the same time, which provides additional ...
Short is the trade on XAU/USD at the moment as the market has presented us with a bearish Gartley pattern with various confluences on the daily time frame.
When we zoom into the 4h charts we can see that there was a confirmed double top with RSI divergence. The importance of this double top is that the market put in a lower high when it came to retest the point A ...
We have a beautiful bearish bat on GJ with many points of additional confluences. In my system, this would be a high probability pattern, however, you should always test your strategies before you trade them!
GJ has failed to break and hold above the previous lower high of the down trend. Technically, we are still in a bearish long term trend on the longer term. ...
PRZ in red box region including ratio confluence and major structure resistance
RSI overbought and diverging; stochastic is pointing south and overbought on the bollinger band as well (4h)
We have had a harmonic completion on the lower time frame and P.A is now dancing w/ the 21 DMA, which is acting as dynamic resistance
Good morning traders,
We have two potential harmonic patterns forming. On the sell side, we have an 'alternative' bearish cypher (indicated with the red dotted sell line). On the buy side, we have a bullish Gartley (indicated with the green dotted buy line). The market cannot consolidate forever so we can expect either of these orders to be filled at some point ...
GA has completed a head and shoulders on the daily and for me to be involved in this trade I am looking for a retracement into the PRZ, which I believe to be a high probability reversal area if price action tests this zone. If completed, I will be expecting a harmonic move to the downsize to my target area in green. This is not a traditional head ...
Bearish bat forming at the key weekly level. This bat, if formed, would be a rejection of the weekly area. If this pattern fails the next level to take the pair short would be at the well respected downtrend line indicated in the second chart at which point a trade would be executed upon confirmation only (where I would be in search of additional confluences)
Potential bearish bat + RSI divergence + weekly supply area
There were also multiple rejections of this area as outlined in the notes on the chart, which I believe adds credibility to the trading idea
Good luck traders!
P.A is testing a weekly demand area above a key support level. The pattern has completed w/ RSI divergence and an engulfing candlestick formation on the daily which has been confirmed (taking bit of a conservative entry with this one) as the trade was executed after the 4h M.A's crossed to the upside. The expected rally would also be supported by the recent ...
UJ has a bat bearish bat pattern. A counter trend trade opportunity has been presented to us traders, which I believe P.A. will come back to test the breakout of the trendline that was breached with the last 4h candlestick.
I am waiting for an upside retracement into the box zone before the downside trend continues to the dotted line area (which I believe to be a high probability reversal zone - potential bullish cypher). I will be waiting for a L3LC on the 1-4 hourly charts depending on how action unfolds, since the box region is in a consolidation zone. ...
I had entered short on UJ upon completion of a 2618 pattern. To my surprise, the pair completed a bearish bat formation w/ divergence. A lot of confluence on the pair and massive downside if the bankers bring it down below the recently respected trend line. Fundamentally, we need to wait for economic data to filter into the market tomorrow before any real moves occur.