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Simple short trade on the AUDNZD here, price has been making lower highs and lower lows on the 4H timeframe. Decide to place 2 limit orders on the 0.618 and 0.786 RETRACEMENT OF XA.
Identified possible areas of reversal as my profit targets. Shooting for extended targets.
A channel formation can be seen on the 1D chart.
Price has bounced off the upper channel, moved downwards and is now retracing back up
Entered 1/2 position the 0.618 RETRACEMENT OF XA, set a limit order for 1/2 position at the 0.786 RETRACEMENT OF XA
Fib level coincide with structure levels and RSI divergence has occurred! Perfect example of my ideal entry! ...
Bearish Cypher pattern on the 4H chart
Lets see if the price retest the previous high, which was caused by the Brexit fiasco a few days back!
Bearish trend on the 1D and 1 WEEK charts.
Shorting half a position at the 0.618 RETRACEMENT OF XA and another half at the 0.786 RETRACEMENT OF XA
0.618 RETRACEMENT was level at which a massive spike downwards occured, would be interesting if price is able to retest this level!
Shorting Half a position at 0.618 RETRACEMENT OF XA and another half at 0.786 RETRACEMENT OF XA
Lower highs on the 1 Week Chart, shorting 2 half positions at 0.618 and 0.786!
BEARISH CYPHER PATTERN completed on the 4H and 1H time frames. Abstaining due to existing position on this pair. However, if a RSI DIVERGENCE occurs, may consider taking a small position to short this pair
Looking at EURGBP, price has been a down trend since April this year. Price has retraced to touch the 0.618 RETRACEMENT OF XA. The 0.618 - 0.718 RETRACEMENT ZONE also confluences with a major structure level, the previous high!
Looking deeper, we see that the retracement is also a 1234 SETUP, confluence with RSI DIVERGENCE and a DOJI, whose upper wick extends ...
A simple BULLISH BAT PATTERN forming on the AUDCAD
LONG ENTRY @0.92608
TAKE PROFIT @1.01670 RR Ratio= 4.74
TARGET 2 @0.98566 RR Ratio= 3.15
TARGET 1 @0.96166 RR Ratio= 1.86
STOP LOSS @0.90661
AUDJPY on a DOWNTREND here, identified 3 possible SHORT ENTRIES
A possible BEARISH BAT PATTERN. ENTRY @89.26 (Purple line)
Using XA as the impulse leg, i identified ENTRY ZONE 1, between the 71.8 and 61.8 RETRACEMENT OF XA. However, i do not feel that this entry zone will be hit, given that it has already been tested 4 times. But ...
Identified 2 Advanced patterns on the NZDCHF.
Purple Triangles represent a BEARISH BUTTERFLY(Completed)
Blue Triangles represent a BULLISH CYPHER
Clearly we are now stuck at an impasse, to go LONG or SHORT, that is the question.
Taking a step back to the 1D time frame, we can see that price has moved in a pennant formation ( grey lines) While it is not within ...
Found what I thought would be a simple shorting into a downtrend when price retraced to the 61.8 RETRACEMENT of the impulse leg XA
Further inspection of the RETRACEMENT LEG ABCD revealed a 1234 movement, which terminates at the 1.272 EXTENSION OF AB . This level has further confluence with structure on the left and with the 61.8 RETRACEMENT OF XA. This will be ...
Bat pattern just completed (Not drawn in)
Pair moving to support level dating back to late OCTOBER 2015. Simple buying at a support level. Profit targets at 0.618 RETRACEMENT OF XA. Will probably wait for a reversal signal like a higher high higher low or a double bottom on the 4H time frame before entering
A bearish gartley pattern has just completed on the CADAUD (1D and 4H). Purple line represents the 127.2 EXTENSION OF ABA and orange line represents the 78.6 RETRACEMENT OF XA. Shorted a full position
Simple ABCD pattern on the NZDCAD. 2 entry points on the 61.8 and 78.6 retracement
Simple Cypher pattern in unconsolidated price movement
Placed 2 orders to enter half orders at the 61.8 and 78.6 retracement of XA. Downtrend clearly visible on the 1D and 4H charts
The 127.2 extension of the ABA leg is rather far from the 78.6 retracement of the XA leg. Decided to short 2 half positions at those points. Any thoughts on this method? Have seen variations for the ROE of a Gartley, some requiring confluence while others do not!