primalkarma

primalkarma

The Butterfly on USDCAD has Developed Slightly Differently I had previously assumed C to turn at 38.2% of AB but it made an extended retracement till 0.757. However, the fundamental structure still remains intact... Highly likely that there will be a gap opening higher and will rise another 70-75 pips before turning/falling... What with the BoC suggesting a...

primalkarma

A Bearish Gartley has established itself on the USDCHF 4 hr chart. The Price Reversal Zone (PRZ) is clearly indicated in the Chart. Take Profit can be at B and C. A potential of about 80 pips. Stoploss just above AB = CD at 0.9880. The price generally tests all the levels in the PRZ. So make a good decision. All the Best...

primalkarma

A bearish butterfly is forming on the USDCAD. The price is at C and has to complete the final leg CD. As C is at a major resistance level @ 1.3280, it is very likely that price will rise till D before falling. One can open a trade at C too. The D point in the structure is very specific as, the 1.27 XA, 2.618 BC and AB = CD projections @ D coincide at...

primalkarma

The previously posted bullish butterfly pattern on the ETHUSD has completed. It entered the PRZ and turned at the exact position mentioned. However due to the timezone issues, was unable to start a trade... however, will wait for the price to reach the PRZ once again, but the hopes are little... Reposting it again for people to appreciate harmonic patterns and...

primalkarma

0.887 AB retracement @ C = 1.2208 PRZ: AB = CD @ D = 1.2305 1.13 BC projection @ D = 1.2305

primalkarma

The Bearish Gartley structure is principally identified by a 0.618 B point retracement of the XA leg. This happened at 0.98146. The other elements of the pattern are— the AB=CD which will occur at D = 0.98772 , the 1.618 BC projection at D = 0.98385 , and the 0.786 retracement of XA at D = 0.98421 . They should converge within close proximity of each other...

primalkarma

The Perfect Butterfly pattern is defined by a B point retracement of an exact 78.6% of the XA leg. Another distinctive aspect of the Perfect Butterfly structure is a precise 1.618 BC leg that complements the completion of the 1.27 XA leg. PRZ (Price Reversal Zone): 1.27 AB @ 168. 1.618 BC @ 168 1.27 XA @ 165 The price may test 165 or may turn at 168. So it is...

primalkarma

Owing to the rise in EURUSD, the pair USDJPY is falling and this led to the preliminary formation of a BAT structure. Will update the PRZ and Entry point as the structure evolves. My analysis of the BULLISH BAT on the EURUSD at this link:

primalkarma

A Bearish Bat structure is forming on the 4 hr chart of AUDCHF. 0.5 B retracement of XA at 0.66615. PRZ: 0.887 XA retracement at D at 0.67847 2 BC projection in the area at 0.67941 Have also opened a small long position at the resistance level at 0.6646 which price broke recently. Also, the currency heat map of AUD and CHF favor a long position. Hopefully,...

primalkarma Updated 

Have been waiting for the price to touch the PRZ since the start of this week. It has been a long wait with the chances of it being very slim. Let's recap the Bullish Bat fundamentals. 1. 0.382 retracement of the XA leg at B. It happened at 1.11649. 2. 0.786 retracement of AB leg at C. It happened at 1.12319. PRZ: 3. 0.886 retracement of XA leg at D (1.1052)...

primalkarma

Just trying to understand price action on harmonic charts. Even though the first pattern on the chart does not correspond to any definite pattern like the bat or the crab or the gartley, just an understanding of fibonacchi projections and retracements and opening a position could have been very profitable. On an average 200 - 250 pips. The second pattern is...

primalkarma

A bullish butterfly is in the process of formation on the ETHUSD. The price may rise till 200 before falling. Will follow the structure and update ...

primalkarma Updated 

A distinct Bullish Bat pattern with a precise PRZ (see published chart). The ratio alignment is quite precise, especially the 38.2% B point and extended BC projection. The two numbers of the PRZ defined a tight zone between 1.1053–1.1057 to get long. Specifically, the setup possesses a 2 BC projection at 1.1057, and the 0.886 XA retracement at 1.1053. Target 1...

primalkarma

A Butterfly is forming on the USDCAD daily chart. The primary determining element is the precise 0.786 B retracement which happened at 1.3348. Potential Reversal Zone: 1.27 XA projection at D ( at 1.3548 ) completes the structure and is the most critical point of the pattern. 2.24 BC projection is at 1.3549 1.27 AB = CD is at 1.3598. Let us...