USDJPY Daily is trading above 50MA.
The Broadening Wedge could be the extension of the bullish momentum, targeting up to 100% of Fibonacci Extension. 117 to 118 level.
The minimum 161.80% D leg of Butterfly is also agree that this broadening pattern is bullish.
We have seen price exhaustion at 1.2
Possible pullback on higher TF
Head and Shoulders formation
Entries at 1.95 retest
Closes gap
Target 1 @ 1.1775
Target 2 @ 1.7
As a followup from earlier, we have now retested the aforementioned patterns with PRZ between 2280-2290 and an exact ABCD @ 2320. (I incorrectly mentioned 2310 in original post.)
Regardless, the Terminal Bar traded as high as 2330 as the price action hit the PRZ.
Remember, harmonic patterns have two reversal classifications :
Type-I = Reaction to 382/618...
Hamonic Bat Pattern Bearish orange color
Hamonic Alt bat Pattern Bearish orange color
Motive wave
Small Elliott wave 5
Big Elliott wave 3~5
--> Big Elliott wave 1
hamonic pattern Gartley
--> Small Elliott wave 1 & Big Elliott wave 2
Hamonic pattern Gartley
=> Da
Corrective wave
small Elliott wave 5
-> Expanded flat & Hamonic pattern crab...
on the EURJPY 60min chart I spotted a potential Bullish BAT.
The completion of the Bullish BAT Pattern offers a trading advantage and a chance to buy the
EURJPY .
Target 1: 38.2%
Target 2: 61.8%
Note:
Just my Idea.
on the EURUSD 60min chart I spotted a potential Bullish CYPHER .
The completion of the Bullish CYPHER Pattern offers a trading advantage and a chance to buy the
EURUSD .
the D Leg terminates near the 61.8% of the Daily Fibo retracement.
Note:
Just my Idea.
This pair is in an uptrend on the daily. I will be looking to follow the move upwards with these two patterns (Cypher and Bat)
We are already experiencing oversold conditions and have some structure looking left.
Cypher pattern:
Entry: 0.75646
TP1: 0.76641
TP2: 0.77287
Bat pattern:
Entry: 0.755316
TP1: 0.76461
TP2: 0.77178
Feel free to like and follow
UJ found resistance at the 0.88 D leg of a bearish Bat pattern on the 1 hour chart. With the break of the trend line associated with the recent up move and the MACD/Stochastic crossovers, this could result in a nice retracement.
SL: 114.80
TP1: 113.277 (.382 retracement)
TP2: 112.395 (.618 retracement)
![GC1!: GC1! / GOLD / XAUUSD / GCM2017 [Bearish pattern]](https://s3.tradingview.com/t/TEu2v7D7_mid.png "GC1! / GOLD / XAUUSD / GCM2017 [Bearish pattern]")
![GC1!: GC1! / GOLD / XAUUSD / GCM2017 [Bearish Pattern]](https://s3.tradingview.com/z/zCKkVLt1_mid.png "GC1! / GOLD / XAUUSD / GCM2017 [Bearish Pattern]")
