In this week's Weekly Markets Analysis newsletter I'm showing two possible harmonic trading scenarios in $EURUSD towards the FOMC meeting. Which one of the two will you trade when the Fed will have their announcement? Read the full setup and more analysis on $XAUUSD and $USDCAD marketzone.tumblr.com Subscribe to the Weekly Markets Analysis for free www.themarketzone.net
In this week's WMA, I posted two trading scenarios to monitor in $EURUSD. Aggressive C buy scenario AB=CD bearish harmonic scenario. Both scenarios closed today with profits. Those who traded them both. took about 400 pips this week. Good Job
EURGBP approaches structure res. @798 for bearish bat completion. Another bearish bat awaiting @803 highs which overlaps with equal leg ABCD completion
Bearish BAT pattern is setting up in a well established downtrend. At BAT completion, many fibs levels are lining up defining a nice kill zone.
The bullish ABCD equal leg has been completed @1194, the bull gartley @1211.68 and we have PA very near the -2/8 extreme overshoot @1187.50.
Price have already been rejected on Friday but there is still some momentum to the upside in place. RSI is going overbought. Action: wait for a double top or some bearish candle formation to short
USD/CAD completed a Bearish Gartley pattern recently around the AB=CD level of 1.1175. The USD/CAD had a recent high at 1.1222, but has since traded lower. Markets have been very volatile lately, so expect some erratic moves. Initial profit target is at the 38.2% Fibonacci Retracement level of the run up from A to D on the Gartley Pattern. Stop is above point...
....Back to the Analysis… now that we’ve put in a lower low, lower close and the RSI is buried, I think 1 of 2 things will occur. Either we’ll continue straight down to the Fibonacci cluster which comes in at structure, or we’ll see some relief that will result in a retest into previous structure support which should now act as resistance. Now I would shy away...
It took 10 days to reach the predicted level but it's finally where I said it would go. Price failed to close below and will most probably go sideways between previous support level (now resistance) and current support around 1.2628. Don't rush into trading this pair yet, observe and once it closes above or below one of these levels you can decide.
The last time I looked at this stock I had a bullish Bat Pattern on my radar, which resulted in a move back up to previous structure before continuing short. That movement down ended up being the 3rd drive in a bullish 3 Drives pattern (in yellow) and what I would expect is a minimal move back up to previous structure (orange arrows). Typically when traders look...
Three aspects that gives a short signal on the pair. The first being the pair completes a full AB=CD pattern with giving a short signal to catch a good number of pips on the retracement back to .382 or probably even .5 of CD. Second to back the short signal is the price has just hit the resistance on the daily chart evidencing a neat rebound of the level. Third...
The $USDCAD had very nice rally last week. My Weekly Markets Analysis setup (from last week) made about 100 pips as it reached its target level. This week we see two completions of harmonic patterns along with daily structure zone. Will it be enough to stop the mighty dollar? This setup is part of the Weekly Markets Analysis - The trading newsletter from the...
After successful short trade we took at the Elite Zone based on the Gartley pattern, I'm now looking for reversal in $NZDCHF. The Gartley reached both of its target levels and now the price is at interesting, possible support, zone. 1. Bullish AB=CD pattern completion 2. Structure level 3. 61.8 Fib level These 3 technical reasons may be good enough to look for...
Two scenarios: start correction from end of the ABCD pattern or, if lower trend line downward channel hold, the descent to the level of 1.25 (fibo level) and from there upward correction.
Looking a a structure based long opportunity here as price actions looks to retest previous structure support. We've got a combination of multiple harmonic moves lining up with a Fibonacci cluster and of course structure looking left. As of now I'm waiting to see how price action reacts within this zone before committing to an entry.
The AB=CD pattern mentioned in this week's Weekly Markets Analysis newsletter (marketzone.tumblr.com) just may became a serious warning signal for the financial bulls. The lower border of the Trading channel we've been monitoring in the Market Zone for while, just got breached. If this situation will stay till the end of the trading day, it is a great...
In my trading course (which I would highly recommend) we were talking about advanced patterns today, so I went out on the chart and tried to find and recognize some. My first butterfly patterns I discovered on the GBPUSD hourly and 4 hr chart. I drew it in on the 4h chart because it's just less messy. What we have here is a butterfly pattern where the 1.272 fib...