On the EUR/USD 4HR time frame we have a lower low lower close, since then price action rallied into resistance which was once support providing us with a double top, first test RSI was extremely overbought as I have my settings at 80/20, conventional is at 70/30. On the second test, we have bearish divergence.
We can get involved in two ways:
After my analysis on this pair, I have noticed we have a potential bearish Gartley setting up at 1.7000. What makes this more interesting is we previously had a head & shoulders pattern which broke and closed below the neckline, price than retraced back up to the neckline and still failed to retest the low at 1.6713. Due to this reason my secondary...
Even though I stop trading over the festive seasons I still conduct my analysis to perfect my skills. This is for educational purpose only and would not advise to trade it with live capital especially if you have not backtested this strategy, it could be detrimental to your account.
We have a potential bullish Cypher on the EUR/USD 1 HR chart...
We have a potential bearish Bat near completion on the AUD/CAD 60 min timeframe. Completion at 0.9648, Stops above X, Targets at 38.2 & 61.8. Please do not use this as a signal service, if your trading with live capital than you should be following your own trade plan, if you don't have one STOP Trading and for the love of God go develop one.
Hope everyone had a lovely Thanksgiving in the US. I was just glancing through the charts and noticed a trading opportunity on the EUR/USD. For Advanced pattern traders, we have a potential bearing Bat completing at 1.1459, targets at 38.2 and 61.8, stops above X. Hoping everyone has a lovely weekend.
We have a potential Bearish Gartly on the 4HR chart, I will be keeping an eye going forward if B leg gets penetrated I will Set orders.
Completion at 129.70, Targets at the 38.2 & 61.8 fib retracement, stops above X. Wishing everyone a prosperous week in the markets.
For advanced pattern traders out there, we have a potential bearish bat completing on the 4 HR chart @ 0.7287. Targets at 38.2 & 61.8 and stops above X. If you view the daily chart you will also notice the completion zone is at the daily resistance level.