Gartley Pattern is not my favourite harmonic pattern, and that is because it doesn't have a very good profit factor. For this instance, the PRZ happens to converge to a single price, and the formation happens within the consolidation zone does entice the trading setup.
A Bullish Gartley Pattern on the daily chart conflicted with the Key Resistance Level at the 4-hourly chart. This is when experienced and rule-based trading becomes handy. With all my filters and experience, the Gartley Pattern has a better chance of being a profitable setup. 103.42 would be a better fill for the trading setup.
NZDUSD has a Bearish Shark Pattern on the intra-day and daily chart timeframe. My engagement will be on the intra-day timeframe; that's when the Shark Pattern completes at 0.6270. A minimum of 3-bar reversal must be seen on the intra-day timeframe before engaging in the trade. I would stretch my targets to which of the daily chart patterns, giving me a lower risk...
You have seen how the Fib Extension work in an amazing manner(check out related ideas within the tradingview post USDJPY - Fib Extension) it will allow you to capture 149pips of profit just by doing that. My analysis on USDJPY remains bullish; one of the most aggressive engagements is to wait for the market to retest on the trendline; the stop should go below the...
The overall trend on GBPUSD is heading towards the upside, a bullish trend if that makes more sense to you. I'm waiting for a buying opportunity. on a Bullish Deep Gartley Patterns that complete at X, I'm aware that most harmonic patterns traders don't trade Gartley Pattern the way I did, but I have other filters in place, and I've been trading harmonic patterns...
EURUSD is going nowhere in the coming week, which means it's great for some sideway trading strategies, like harmonic patterns. I'm waiting for candlestick pattern confirmation at 1.0320, a 3-bar reversal should suffice.
One of the ways to engage in a buying opportunity on USDJPY is by using the Fibonacci Extension, in this case, the setup is completing at 138.02 within the buy zone and not violating the double bottom pull-back. A 3-bar reversal at the level is the minimum I'm waiting for.
Traders, after a double bottom or a double top happens, what's your trade plan? Personally, I'm waiting for a pullback to 0.8926 for a buying opportunity.
A double-bottom pullback allows traders to engage in a buying opportunity. What is important to look out for is that the setup should never break and close below 137.68.
New Zealand suggested a year of recession will help to curb hyper-inflations
A Bearish Gartley Pattern setup would still require can candlestick pattern confirmation for me. Two ways to go about it, a 3-bar reversal on the current timeframe or a Double Top with RSI Divergence on the 1-hourly chart.
The USDCAD seems to be a pretty bullish setup, we might not get pullback back into the buy zone, and the best we could have could be retesting on the tip of the buy zone. Let's look and observe how the current candle closes.
Before we talk about the Bat Pattern, I like to make known to you that the Bearish Shark Pattern on the 4-hourly chart within the related ideas is ready for trading. What is excellent about this trading setup is that the Bullish Bat Pattern on the lower timeframe, the 1-hourly chart completes at 85.34, which happens to be the first target of the Shark Pattern and...
An AB=CD pattern setup could be used in this manner too. I'm waiting for a shorting opportunity at 167.03. Aggressive traders could consider an instant shorting opportunity the moment when the market opens, whereas conservative traders could wait for a double top with rsi divergence to engage the trade.
My bias is still bullish on the USDJPY, you can check out the related ideas within this tradingview post. One way to engage it is to wait for the Bullish Bat Pattern to form at 139.08 on the day trading timeframe. A candlestick pattern confirmation is required, no matter how confident you are in this setup.
It's amazing that for more than a week, the market trial along the tip of the ascending channel; shows that the market has hesitance to break and close above the channel. That is excellent news, as I plan to short the GBPUSD off the Weekly Resistance Level. You could check the related ideas within the tradingview post for my lower timeframe strategy. If a break...
EURUSD sits within the resistance zone of the weekly chart, the long week had created an additional resistance level on the daily chart; even a break and close above 1.0485 happens, we have the Bearish Crab Pattern where we can catch the bearish move at 1.0597.
I'm waiting patiently and hopefully that GBPAUD pushes back down to 1.7500 before waiting for buying opportunity. With a glance you might see that the price is close to one another, but its not, it was 74pips apart!!