cypher and bat on 4hr chart plus a trendline that should provide some resistance. looking at price action within the 'short entry zone' to open short. close/clear move above the TL (blue line on chart) will invalidate this for me this could be heavily influenced by the FED decision, so smart money management to control risk, ie low leverage and only 2% of equity -...
On FX:AUDUSD , the bulls are in control of the price and getting close to the previous structure high. When bears are going to step in? it is more likely soon, as big orders are mostly placed at structure levels. In addition, there is harmonic moves, where the valid gartley pattern appears, which increase the probability. This pattern gives a clear guidance,...
Looks like the AUDCHF.
Last week the dollar weakened prior to FOMC, helping the Cable rise during the first three days of the week. The UK GDP coming out as expected also supported the rise; illustrating the economy is doing well. In the FOMC statement on Wednesday the FED referred to solid job creation and said there will be an increase in interest rates following 'some further'...
we can see 2 bat patterns on the 4h timeframe: 1) the first one close quite above the 1,272 fib level ( considering trend harmonics) so this might nog be so significant, though I believe we will see a little drawback in the red square 2) the second one closes right at the 0,886 fib level of the freefall in January. It's also not that far away from the HC in...
It looks as if bulls have exhausted their run. Price was rejected at the descending daily resistance (pink) and was followed by a retest of our ascending resistance zone, printing a bearish shooting star. A divergence in the RSI can also be observed below this price channel. It is important to note that each top was followed by a 61.8 or 76.4 retracement to the...
looking at previous Price range, we can see it has broken the channel and is now heading for a retest of that level ( blue line). Because we're in a long term bullish trend, chances are we will see a bounce at that level, as we will also have a finished bullish gartley pattern and a AB=CD if we would continue a little lower, not violating our X leg.
A bearish Shark pattern has been completed on USDCAD 4H timeframe. Shark is one of the most probable patterns as the completion D point naturally falls at a significant level. In this case D point is the 3rd retest of the 1.25620 level. The beauty is that even if price fails to reach the level and falls short, but achievs 0.886 retracement of the XC distance,...
Long Entry setup (My opinion, not a suggestion, nor recommendation) Details on chart
After a sharp drop/ downtrend of AUDCAD a bearish pennant has formed on 4h chart. The price is consolidating before I believe it will breakout on Monday morning and test the daily resistance from December at about 0.94. I believe this will be broken and price to continue the weekly/ monthly downtrend that is forming and looking at the current forecast for the...
A potential long opportunity at the completion of a bullish bat which is the 0.886 retracement of the XA leg Stops need to go below X. TG1 is at the 0.382 retracement from A to D. TG2 is at the 0.618 retracement from A to D
A potential short opportunity at the completion of a bearish bat which is the 0.886 retracement of the XA leg Stops need to go above X. There is a major structure level above X looking left. Pay attention to that level when placing stops. If the risk/reward doesn't meet your rules, simply wait for an entry reason on the lower timeframe (a double top for...
A potential short entry zone if price retraces into the orange box. We have some structure looking left and some fib confluence in there as well.....