A potential H & S short play on the Daily for GBPAUD.
If we have a break and hold below neckline the measured move conservative target is ~ 1.9610 as indicated by arrow down.
One to watch.
* Conservative (candle close, not topping wick taken as high for measure)
Can also use Bulkowski's target criteria for H & S ...
The monthly chart of GBPAUD shows some potential for a pullback from the current bull trend.
Fib retraces from Sept 2001 & Oct 2008 highs to Mar 2013 low give 50% and 61.8% values respectively for this years high (so far) in August. The alignment of the two values is appreciable given the 7 year span between ...
AUDNZD price action has been contained in the apex of a triangle from early June this year.
Price has oscillated between the triangle legs and is currently near the upper triangle leg having tested it and sold off.
We have the GDT results (16 Sept) later today which should be the major catalyst for this pair - a ...
Potential Inverse H&S forming in Gold H1
For confirmation of the proposed pattern I will be looking for right shoulder completion with price breaking 1104.50 (neckline) with momentum.
If not - no trade.
The measured move target is ...
Late to this trade but looking for the Inverse head and shoulders potential target completion of 1.4450
Criteria for Inv H&S met:
Formed at the bottom of a trend
also symmetry is good although not a major factor as we can also have more skewed (lopsided) shoulders
Edit - 27 July - took 75% offf @ ...
Not often seen published at TV, I think this DXY 240m is a "text book" example of the harmonic 5 - 0 pattern
rules from SC Harmonic Trader
Basic 5-0 Requirements
The pattern incorporates 5 points within the structure (X, A, B, C, D), the starting point of the structure (0) can be the beginning of any extended ...
Potential top of trend H&S reversal pattern in the making iff we form the RHS and we break & close below the neckline as shown.
The potential measured move on completion of the pattern would put price back at the 2.0850 - 2.0900 area.
Good luck if you take the trade if the opportunity presents itself.
Potential intraday bullish harmonic (butterfly) setup.
On completion of CD leg we could take a long position targeting T1= 38.2 & T2 = 61.8 retracement levels of AD as shown.
Please note the D point shown is an ideal 1.27XA extension, actual D point may vary from that depicted.
As usual please follow your own ...
Interesting times for the EURUSD.
Here we are at trendline support
The monthly chart shows us 9 consecutive months of bearish price action - will April be 10 mths ? - we are under trendline as of today.
Month is not over yet so there is a possibility for the April candle to close above the drawn trendline.
Potential Bullish gartley if the CD leg completes.
Can trade the CD leg, look for bearish candle to confirm.
Point C has latitude up to 0.886AB ~0.7615
Nice fibonacci ratio confluence at D.
Trade the gartley long when pattern is complete, look for bullish candle signal(s) to go long.
Trading the completion of the CD leg. Short.
Once target is reached we could trade to the upside (long) if & when bullish confirmation is observed.
Bearish bias for the Australian dollar seems well entrenched for the present - low in iron ore price, sentiment inferring a dovish RBA cutting rates at the next ...