Kjetil_Johannesen

Kjetil_Johannesen

Long time since I last posted a trade idea here as I've been busy working on massive amounts of backtesting. There's a potential bullish Bat forming on EURUSD 60M chart. If you count the spike from B-C as a leg that is. Beware though, as we're coming down from a daily decision point (reistance) after a double top on the 240. I would go for conventional targets on...

Kjetil_Johannesen

I was waiting for price to enter my potential reversal zone (yellow box) according to my trend continuation rules. Then I would have to wait for RSI to go overbought and price to put in a higher high higher close candle, and then enter long IF that were to happen. Price decided to tag my zone, and has now started to move to the upside. Price did however retrace...

Kjetil_Johannesen Updated 

Potential deep Gartley setting up. Not much to say except Deep Gartley = Excellent risk/reward.

Kjetil_Johannesen Updated 

Potential bearish cypher forming, almost at market now. The pattern is in the direction of the underlying trend, and RSI about to go oversold. Always conduct your own analysis before placing a trade.

Kjetil_Johannesen Updated 

We now have a valid C-leg of a potential bat in the direction of the underlying trend. If we complete, I'm looking to ride this up to retest the highest close of the pattern for my first target, and a 127.2 extension for my second target. In other words, I'm using this pattern as a reason for entry into a trend continuation trade, and not shooting for the...

Kjetil_Johannesen Updated 

Potential bullish Gartley forming on EURUSD providing an aggressive entry for a trade continuation trade. The pattern completes in my already defined killzone where I wanted to enter anyway. This way, I can just set limit orders instead of monitoring price waiting for an entry signal.

Kjetil_Johannesen Updated 

3 potential patterns forming on AUDCAD 4H. We just completed the C-leg of a potential bullish Gartley. If price goes lower, it would make the Gartley invalid. However, there's a bullish Gartley completion waiting a bit lower if price goes down there. Then you can ride that up, and potentially get filled on a potential Cypher. Always conduct your own analysis...

Kjetil_Johannesen

I just spotted 3 perfectly valid advanced patterns (2 Cyphers and 1 Bat), and theoretically one could trade them all. But does that mean you should? Not necessarily in my opinion. This is a situation I still haven't defined a rule for in my tradingplan, so I guess it's about time that I implement that. In that regard I am wondering what YOU would do in this...

Kjetil_Johannesen

Overall trend on higher timeframe is bullish. I predict price to extend up to 0.78350 which is the previous major structure to the upside. We are nearing the D-completion of a bullish Bat on my trading timeframe, which is the 4H. I'm aiming for traditional targets at 0.382 and 0.618 measured from A to D.

Kjetil_Johannesen Updated 

Just hit my D-completion of this Gartley. Hovering around the entry now, so might still be possible to get involved. Price had just broken to the upside after a period of consolidation, and retraced right around structure. I was eyeballing this level for a potential short, and was looking for an entry reason when I spotted this pattern and entered immediately @market.

Kjetil_Johannesen

A deep potential bullish Gartley forming on AUDNZD with an amazing risk/reward. Going for 2 positions, traditional targets at 0.368 and 0.618.

Kjetil_Johannesen

The stars align on this one. We have a potential bearish bat forming with D-completion right above the even 114.500. We also have a potential AB=CD formation at D-completion. On top of that we have structure right above the same level, and 3 fibonacci levels forming a cluster around the same point. Could trade this with traditional targets, or shoot for extended...

Kjetil_Johannesen Updated 

USDJPY is really providing a lot of patterns at the moment. So far, two for two winners. Will there be a third? Cypher pattern setting up with a decent r/r. Will demotrade this. NFP today.

Kjetil_Johannesen Updated 

A bearish gartley is about to set up on AUDUSD. It's a deep one as well, so it provides a good risk/reward. D-completion is close to a structure level as well providing a nice little protection there. I use a 1.131 fib inversion from X to A for stops, and it's conveniently above structure.

Kjetil_Johannesen Updated 

Price is about to form a potential double bottom at structure. We also have a 38.2 fib confluence with the structure level. Would've liked to see an ab=cd and/or more fib levels confluencing, but this is all I can spot at that level. Should the double bottom fail, we also have a Gartley pattern forming a little lower. Always conduct your own analysis before...

Kjetil_Johannesen Updated 

EURGBP seems to present a nice long opportunity if price reaches a bit lower. My bias is bullish, and we have a potential bullish BAT forming with a 1.618 fib extension and an AB=CD pattern completion near the BAT completion. Nice risk/reward on this one too. Today is NFP, so be careful out there. And always conduct your own analysis before placing any trade.

Kjetil_Johannesen Updated 

We are almost at D-completion of this bearish bat on AUDNZD. Traditional targets at .382 and .618. Good luck if you choose to trade it. Always conduct your own analysis before placing a trade.

Kjetil_Johannesen Updated 

Potential bearish bat on GBPUSD 4H. We recently put in a lower low, lower close below structure area, which is a sign of bearish continuation. Always conduct your own analysis before entering a trade.