Pair is currently approaching a major structure level that has worked as good support and resistance level number of times in the past. Bearish butterfly that is potentially forming now, completes right at that level providing a nice shorting opportunity. RSI shuld be overbought at completion of the pattern to confirm sell signal. ATR based stops above the 1.618...
Following the break of the descending channel(see pic. below)
Pair is now setting up for a bearish pullback trade. Bearish bat that pair is potentially forming now, is completing at even handle number 1.5200, which serves as resistance itself. Also completion of the bat would form double top and therefore if bat pattern's...
Here is my picture of what is happening here on this pair. We can see a massive drop in a bullish market from 1.36550 down to 1.32000, following that market has formed bearish flag pattern and broke it to the downside yielding nice profits and forming an ABCD pattern that actually yielded some nice profits as well. Now the next thing happening is market is forming...
Wait for confirmation within the red box. Take profits at .382 and .618 price extreme. Stops shall be ATR based once an entry reason is given inside the zone. Pattern is invalidated if it exceeds red box
Cable formed a weird almost butterfly esque formation (well symmetrical type wings anyway!) earlier in the year which basically got use back to where we started
This month has seen a decisive move below the 200MA and we are now targeting 1.300 and 1.2700 as £ continues to weaken
Short on breaks of support or buy on corrections to support turned resistance levels
Here we have a potential Bullish Shark pattern on the hour graph.
The prince seems to have already touched the PRZ but we may see a retest and then for it to move upwards.
Will keep updated as i see fit.
This large, bullish Gartley pattern is nearing completion and indicates that price will begin to climb soon. I have set out the pattern with point D very near to 9000, so will be looking for price to drop to there before going long, targeting the 61.8% level of X to C. I will activate the trade once I believe the pattern is complete.
This is part 2 of this idea,...
The chart illustrations should show what I think is going to happen I will have a buy order for the upside from A-B to catch the reversal from C-D then long it from D to the 382... so three possible setups from this that could get you some decent gains!
Nice looking cypher setup for the down side now, I would of like price to test the 618 like my previous post with Euro/Usd but it has formed a bearish pattern inside our zone, Nice gains to be had in this short... Also in the long and then the short again! All should offer a minimum of 3-1 RR.