Shark Pattern forming on the 1 Hour for GBPNZD. The Pitchfork on top of it has been playing out nicely so far (at the time of this idea) Long term we're on a higher trend for this pair, so that would factor into my bias on how the rest of this trade plays out.
Would like to see price bounce around the pitchfork for the next few days to help ID future...
FYI: There is a LOT on the screen. I tend to look at them one at a time when analyzing a trade, but they all need to be on in this idea.
This is a Cypher on the 15m chart. It formed very shortly after the start of the market week. It met my requirements for a trade. I took the TP2 area at about 50 pips from entry.
Take note of the Pitchfork on this chart. Notice...
A Butterfly Harmonic Pattern is setting up on AUDCAD.
Going to be watching this one closely. The fact that NFP is about 18 hours from now will have an effect on the market. While this isn't a USD pair, it could still act different.
Unseen on this chart is the recommended entry of .978324. Do *NOT* take this trade unless it meets your personal confirmations.
On this chart we are looking at a Cypher harmonic pattern that has formed on EURJPY.
It meets a couple of the rules that I use, 1) it has entered the Bollinger Bands, 2) It has met the entry price (not shown) 3) But the RSI is a little iffy and 4) the MACD is not diverging.
What is interesting about this one is I have gone ahead and put on the ichimoku cloud...
Another Harmonic Pattern on EURCAD.
This one has been drawing out for a few days, constantly changing a bit. I've already been stopped out once, but it's back again, and to me showing possible signs of entry.
TRADING DISCLAIMER: Forex trading is risky. You could lose part or all of your initial investment. Please consult a licensed financial adviser before...
This Gartley Harmonic pattern formed within the past 24 hours. What's interesting to note is how price has been playing off off the Fibonacci (within the Pitch Fork) ever since.
Will be interesting to watch this one play out.
This shows a Gartley harmonic pattern having recently formed on EURGBP. With support from RSI being very low and some support from a diverging MACD, this looks to be a potential opportunity.
Forex trading is risky. You could lose your entire investment, and more. Please consult a licensed financial adviser before trading in the Forex market. I...
The market is about trends. More importantly it's know which trends are real and which are fake.
NZDCAD looks to be nearing a point of reversal. One might argue that on the Daily it's already reversed, but if you look at the 4 hour, it's primed for a pullback before it then continues it's trip higher.
I suspect in the next 24-28 hours we'll see the reversal, and...
This is a monthly candle chart of the Dow Jones Industrial Average from 1981 - Present Day, broken down by US Presidents.
From the chart we can see that only one Administration ended with a lower DJIA total than when they entered the office of President.
There is no political message in this chart. Just raw numbers to show previous price action.
Price cam back up to the 161% level today. You will note in the charts it's the second time it's done this in the last few days. It'll be another 24 hours to see what's going to happen.
However, keep in mind there is a lot of news coming out this week that will give the market makers an excuse to move the market, so be prepared!
This might be the time that GBPJPY starts into a Sell trend. Let's look at past price action. Each vertical line is color coded to match with the other chart. 1h on top, 4h on bottom.
You can see the turn around in both charts in the past. The green line was a bit of an iffy call (in retrospect) but at the very least that one was good for 100 pips.
It's possible that we are seeing the first signs of a turn around on EURJPY.
The Yellow trend line shows the rate of decline on the RIGHT, and the Red trend line shows the rate of decline on the LEFT. They are then copied over to the other downturn for comparison.
Does this mean that 100% it's going down? Of course not! However, it's something to watch, given...
There is a LOT of items on this chart, but when you take a closer look, it's telling a story. This 4 Hour view of EURJPY shows the Ichimoku Cloud indicator, along with 5 separate Fibonacci indicators.
The reason for the several indicators is to show you how the Ichimoku and Fibonacci could be used together. Note that each time we have a Kumo Breakout (on the...
We have started to see GBPUSD start a turn around. It has made it past the 78.6% level on the Fib, after breaking through late last week.
This chart shows the daily, but some of the real action is seen in the 4h hour.
In it we see a break out to the upside on the Ichimoku Cloud, which could indicate we have a turnaround coming.
EURJPY has now moved into buy territory with the Ichimoku 15m and 30m chart. The 1 hour is getting close to confirming a buy as well.
No fancy chart reading, fibs, or other indicators at play here. This is strictly an indication based on price action, with support shown by the math behind the Ichimoku cloud.
We now have a lagging indicator on the Ichimoku above the cloud, as well as candles above the cloud on the 1h chart. This appears to be a strong buying opportunity at this time. The 4h chart has candles above, with lagging close behind.
FULL RISK DISCLOSURE: Trading contains substantial risk and is not for every investor. An investor could potentially lose all...
What we see here is the Ichimoku lagging line (purple) closing below the base line (red) for the first time in 4+ trading sessions. It's also the fist time that we've had a candle close fully in the cloud. (A few touched the cloud a few days back.)
This *could* be the first signs of a turn around in the EURJPY market, and could signal a Sell opportunity.
Few things going on here. We're seeing the 21 EMA (teal) on the hourly break out of the cloud, as well as some conversion over base (blue/red).
We've yet to hit the 200 MA, thus I'd like to see price head up to that level, at least.