In 4 hour chart, the BAT pattern has been formed. The current price action seems good. The price is also got support on the uptrend line. Wait to see if there is 0.618 or XYAB to get better entry point if you miss the original position at 1.2207 like me.
E: 1.2207 (orig)
The cypher pattern has been formed. From the current actions, it seems good to enter. It is better to keep some position after TP2, may go up to somewhere very high.
For harmonic pattern, the most important and confused thing is how to chose the X point.
In this chart, due to Canadian rate decision, there are two candles with very long tails. The X I selected is based on it is the actual start point for the down trend. From there, we can find the potential butterfly pattern is in forming.
Please share your idea and ...
CADJPY has finished few harmonic patterns on daily chart. A potential bullish Butterfly is now in forming. Be aware your short position when this Butterfly is finished.
TP1: 87.76 (1:2)
One bearish cypher pattern had been done with price dropped. Be aware the bullish cypher pattern is forming afterwards.The D point is also matched with a support structure. You may want to close you short position when it reaches.
As euro is still on up trend on daily and weekly chart, it is also a good place to build up long position.
There is a 1 hour bullish BAT pattern is forming for NZDUSD. However, be careful the TPs. Since it is on the high level, It might be only good for short position closing and wait the pull back to enter new short position.
Friday the latest 4 hour inside bar for EURUSD gives us both long and short opportunity. There are two possible harmonic patterns might be formed for the break out of this inside bar. You can trade with the inside bar action and set the target with D point of the pattern maybe formed.
If breaks up, it would form a butterfly pattern. The D point is around ...
As shown in the chart, EURGBP potential bullish Gartley pattern is forming. The D point is also the support zone for this pair. Be prepared to enter a long position with your signals.
It also means, GBPUSD would be either slower the up trend or turning to down. There is a bearish pattern for it.
SL: from Gartley rule, it is 0.9724 which is too big. So ...
As shown in the chart, a potential bearish gartley pattern is forming. The D point is also inside of the resistance structure.
The SL is a little high by using exact Gartley pattern rule. The risk/reward ratio is only 1.56. So if you know how to read candle to find better way to enter around the D point, such as inside bar ...
It seems a 30 min bullish BAT pattern to be formed for EURUSD. Potential entry point will be from 1.6310 to 1.6290. If the pattern is formed, I will provide the targets.