We saw a very strong week in the EURUSD . I believe we should get a small correction and a sharp wave 3 in green. Ultimately we should get a 5 wave structure which will form a wave (c) in red and complete wave 4. This move up should find resistance at the last wave iv in green which has is a triangle. After this structure is complete we will see a move down...
A cup with handle pattern is in construction. The price needs break up at 1.1028 to confirms this pattern. Then next target will be 1.12705. Good luck!!
Trading idea on 1h chart: Long EURUSD – Playing the Range ________ Trading idea: limit buy order at 1.1290, Risk-Reward = 5.5 SL@ 1.1266 (-24), TP@ 1.1422 (+132) ________ - range trading in EURUSD since a few days - Greek talks and strong US-Stocks were not able to push USD over EUR -> long entry prefered - pretty easy: buy the bottom, sell the top of that range...
EURUSD has broken, not firmly yet, 50ma. This is a first time we have seen this pair above major MAs for a long time. Monthly high against the dollar has not been confirmed. The pair did not close the day above. Sell off during US sessions would indicated temporary weakness. We expect some more upside here. Take long profits at 1.2560 and expect correction before...
HEAD AND SHOULDERS ARE USUALLY REVERSAL PATTERNS BUT THERE ARE INSTANCES WHEN THEY SHOW UP AS CONTINUATION PATTERNS, I LOOK AT IT AS MALE AND FEMALE GENITALS INSTEAD OF HEAD AND SHOULDER, TO ME IT MAKES MORE SENSE. BEFORE YOU SAY THAT GUY HAS A DIRTY MIND HEAR ME OUT. WOMEN ARE OFTEN PEACEFUL AND USUALLY LIKES TO PROMOTE PEACE CONTINUITY, AND LONGEVITY, WHILE US...
THIS IS AN INTERESTING SET UP, WE HAVE A TRIPLE HEAD, HEAD AND SHOLUDER PATTERN, A GARTLEY PATTERN, AND MOST INTERESTINGLY, MY SO-CALLED STAIRCASE PATTERN. FIND A SIMILAR ONE IN RELATED IDEAS. IT HAS A 61.8 RETRACE THEN A 23.6 PULLBACK, A FURTHER MOVE DOWN TO OPENING PRICE (100% FIB) AND THE A 38.2 RETRACE OR A RETRACE TO PREVIOUS LOW IN THIS CASE. THE PAIR LOOK...
I'VE COMBINED A NUMBER OF STRATEGIES TO GENERATE THIS IDEA BUT ALL ARE PRETTY SIMPLE. THERE IS A PATTERN FORMATION TAKING PLACE. I'VE PLACED THE D POINT AT A STRONG LOOKING SUPPORT THAT I'VE ELLIPSE TO THE LEFT, (YOU WILL HAVE TO SCROLL LEFT). FIB RATIO CONFLUENCE IS WHAT IS USED TO GENERATE THE PRICE MOVEMENT, ALL THE PULLBACKS ARE SOLELY ON THE 50% BECAUSE OF...
WATCHING THIS CURRENTLY, WOULD MAKE A LOVELY RISK REWARD IF GOES ACCORDING TO PLAN. ONLY 10 PIPS TO LOSE IF FAIL,
3 OPTIONS FOR DECLINE, I'M STICKING WITH NO. 3 BECAUSE OF STRONG RESISTANCE ZONE
A FOLLOW UP ON THE PREVIOUS PATTERN I POSTED. STILL LOOKING FOR FURTHER GAINS DOWNWARD.
Treating this as a No.4 wave Elliott, where the No. 4 wave is often saturated with flats and triangle, i'm awaiting confirmation of the next two candles to verify a move down to second channel line. If the market presents a catalyst in favor of my direction. i wouldn't be too presumptuous to set a limit order at 1.31515, rather i'd prefer to bring my stops past...
Well this is embarrassing really, in my post on the 4hr time, the abcd pattern showed me the PRZ, and i was observing the price action in that zone, a few days ago it was showing a sign of trend reversal but as you can see the market went lower showing that the market can do whatever it wants and we cant be correct all the time. So it is imperative to observe the...
Yesterdays Pattern was invalidated when the market moved lower to its current position not giving us a reason to enter the market in the PRZ, however it just proves how important it is to consider the pattern formation on the larger time frame when trading the lower ones, now we have a congruence of pattern to complement the completion of the Daily pattern making...
This is a potential short opportunity in the EURUSD even though the general trend in the daily is long. Those trading in 1 hour should look in this trade for a few pips gain but careful not to be too greedy due to the Larger uptrend on the daily.. Those who wants to trade this should carefully observe the PRZ as described by scott carney. The price action in the...