This is a continuation of the analysis on BTCUSD
(see older posts to get the full picture).
The market is evolving exactly as foretold.
Now the new "impulse 12345+xyzwxyz correction" combination has been
formed, that means that the higher trend( global 12345 bullish trend)
is about to continue.
Also there's some confirming this divergences, on 5m.
Just found this at market Cypher pattern on AUDUSD, It did complete a little earlier but is still valid as the X leg hasn't been broken. Will be looking for the usual 38.2 and 61.8 targets, and the stop loss I have on this is the 113 fib. Risk Reward is actually pretty good for a Cypher, as normally it's slightly less than 1:1!
Will be looking for a...
Here we have a Bullish Bat pattern on EURJPY that is pretty close to completing. I've drawn on the two normal targets I would take (and do take) on all my bat patterns, but there could also be the potential for an extended move higher into an even bigger bat pattern completing so it depends with what you're comfortable doing.
I'm using a usual 113% stop...
another advanced pattern formation i'd like to share with you today. As usual, my analysis starts from higher timeframe: the black line represents a daily structure level that's just been broken to the downside by priceaction. Being that, i know i expect a bearish continuation to the south and i want to get involved in short trades if i can.
I've listed these areas (red) which managed to keep testing the resistance line twice and has worked because price has immediately feel short and dropped quite a bit after each retest.
There is a lot of support as well which rallied the price up but I am confident that it will rally back down.
Looking to short this Sunday evening GMT.
Thank you guys and keep...
in case you don't know this is an harmonic advanced pattern formation that often times occurs in the markets. It is called Gartley pattern and it's made up of 5 different points all responding to certain criteria. The final D point is at the 1.27 extension of the AB leg and you can trade it both by placing your order on that level and waiting for price...