russelldaily

russelldaily

A one hour Bat Completion with good Risk Ratio. Take your profit at the .382 and .618 of the move.

russelldaily

The marked entry, determined by the previous fractal was the first indication of price coming off the high. As we see, the fractal guides this trader to the 1.1200. I exited simply because indecision is shown at the significant 1.1200. I don't predict a take profit. The fractal will indicate when I should get out, or some other price action event. Although the...

russelldaily

EurUsd has reached a triple. The trade has a good S/R ratio with a small stop. Simple but hopefully effective

russelldaily

After the initial correction, the pair is range bound. Seems to be between two precious S/R. One would think a break and close above or below would be simple. But...nothing seems simple for the Eur right now. I enter this trade when the1.1330ish was broken, So obviously I want the 1.1063 to be broken. Stops...I will wait for the 1.1177 to be closed above.

russelldaily

It's hard for me to pass up a resistance as obvious as this one. No matter the patterns in the making, I like this trade

russelldaily

A few things happening here. A Bat with a C point at the .959 xa retracement. Or is it a triple top? The PRZ is small but is very close to the xa bottom. Myself, I am more into support and resistance than Bats that are so close to support. In this particular case, being the EurUsd I would be wary of the Bat reversing and if it did; would it reverse to a TP1 one of...

russelldaily

Still kicking my butt over missing this one. An extended 1.13 extension after a long trend is sometimes a worthy move to ride when it happens.

russelldaily

I'm looking for the pair to fall off this shelf and complete this Gartley Pattern. I see a lot of wicks and few tails, plus a strong closing bearish candle. I decent one to one RR. When we get to the Gartley completion PA will tell us whether or not to go long.

russelldaily

If the B retracement @ 119.90 is closed above before the C retracement is closed below @ 119.65 is the only way this scenario can happen. Also, I adhere to Carney's statement that the ab=cd is the most important part of the Gartley Pattern, which is why I'm ignoring the .786 retracement of the XA leg. It is most interesting to see a Gartley complete at the start...

russelldaily

This Alternate Bat completion seems to be holding as resistance for the past ten hours. I have only a 20 pip stop on this trade. One reason is, Alternate bat patterns usually reverse quickly if they reverse. Two, if I am wrong, this trade has been in a tight coil for awhile and it will probably move quickly and strongly. I can be wrong a little but don't want to...

russelldaily

If and when...a 15min Bat will complete at the118.82. T1 @ 118.49. T2 @ 118.20. This pattern has a long way to go but the Usd/Jpy volatility may make it happen sooner than later. If the 117.81 is violated then all bets are off.

russelldaily

This trade was taken after the close above of the previous weekly high. My T1 is the 1.27 of the last down leg and a triple top, with T2 the 1.618 extension of the last down leg. I may be in this trade for awhile but the profit potential is huge. Stops will of course be brought to break even at or close to T1.

russelldaily

This alternate Bat is confluent with an eight month high resistance. This high area goes back to 2007. There is a good R/R using the .318 and .618 of the total Bat Pattern move.

russelldaily

This Bat completion stopped just above the 1.13 extension of the XA leg. It then retraced approx. 140 pips but I'm not convinced to enter just yet. I would rather look for a double top and then Bearish indication. Also, I would not think of entering a yen trade until after the 9:30 Kuroda speach. I can't draw a definite short entry because I won't know where I...

russelldaily

This cypher will complete at the 142.48 with a stop loss at the 1.4265. Take profit at the 142.17. Slightly better than a one to one R/R. I would take off half off at the 142.17 but directly below that is the 142.00 and it has held fairly well.

russelldaily

As you know, I don't make hard entries when pattern trading. Plus, this pair and the Gbp/Jpy put lots of pips on the board in one day. I'll wait for a reversal signal and even look to a Alternate Bat fill at the 1.13. I'm not going to put up the chart but the Gbp/Jpy did amost the same thing to fill its Bat Pattern. Are the Eur/Jpy and Gbp/Jpy just catching their...

russelldaily

This pair is hitting up against some pretty good resistance. However, if we get a break and possible retest of then support, look for it to complete a Bat pattern. As always, look for inication that price is reversing. This a long trade if resistance is broken and turns to a short when the Bat is completed

russelldaily

This potential Bat completion may be the completion of a three drive pattern. I entered at 173.51 with stops below the 173. If in fact an Alternate Bat completes that would be a 4th drive completing at the 1.13 extension. As always, I never enter a trade at the pattern completion but wait for a reversal signal.