pete002

pete002

Providing we clear the blue bias line we expect price action to move to targets as shown. Bat pattern completion.

pete002 Updated 

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 fibs. Furthermore we have a completed ab = cd...

pete002

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 if you wish - thepatternsite.com

pete002 Updated 

Potential short to channel support. see chart.

pete002

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 positive change in average price compared to...

pete002

IDEA 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 ~1130.80 -------------------------------------------------------------------------------------------------------------------------

pete002

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 Neckline broken also symmetry is good although not a major factor as we can also have more skewed (lopsided) shoulders Edit - 27 July - took 75% offf @ 1.440, balance to run - stop in profit. -...

pete002

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 price move. However, the initial point X must...

pete002

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. edit: Pattern complete, target met.

pete002

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 risk management rules if you decide to take the...

pete002

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. We also see a 0.7071 (sqrt of 0.5) bounce at...

pete002

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.

pete002

Can short the CD leg for pattern completion. Once pattern is completed look for bullish pa to confirm a move up.

pete002

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 meeting, AUD down across all the majors

pete002

Potential harmonic pattern(s) to play out for completion of the CD leg. Potential gartley and crab patterns with ideal CD targets as indicated on chart. Just sketching out some ideas.

pete002

Potential harmonic pattern(s) to play out for completion of the CD leg. Potential gartley and crab patterns with ideal CD targets as indicated on chart. Just sketching out some ideas.

pete002

Potential bullish Bat pattern setting up. CD leg ideal .886 XA comes in @ ~1.9430 - as indicated on chart. Short for CD completion. Stop above days high as indicated. Potential RR~3

pete002

Price at support of confluence of two channel walls. Pinbar formation giving entry. Targets upper channel wall(s)