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...
Haven't seen much activity in the markets this week. Checked NZDUSD this morning though and found an at market Cypher pattern. This pattern has already pressed lower than the .786 retracement entry but is still valid which means we can get involved with a better risk reward.
Only a small risk on this trade so should be open to most traders. This is also...
great selling opportunity and the market will be coming up to possibly make a double top. Look left you can see the market respects this area number of times.
A bat pattern forming at D completion.
I love this pattern, I have recently managed to add it to 3 pairs to trade.
Just been entered Long in a GBPUSD Cypher on the 4H. Wasn't expecting to get entered into this but had my limit orders ready. Market has gapped down to entry. Make sure to follow your rules on if the market can or cannot gap and still be valid - for me and my backtesting, this hasn't mattered.
Hoping for the usual targets, so will be paying attention to...
Here we have a bit of a messy Cypher pattern on EURJPY. I entered this late last week and thought I had made a post but must have missed the publish button. Since entering the market has rolled over about half way to first targets, but it will be interesting to see what happens going into next week.
Will be hoping for the volatility to pick up...
Here we have another unique position setting up on EURJPY. We have a Bullish Bat pattern and a Bearish Cypher pattern both forming. Some of you may have the question:
"well if one says up and another says down, which one do we take?"
The answer is whichever completes first! If one completes and that triggers the other, we take both. If none complete,...
Been in this AUDUSD Bat pattern on the 4H now for a day or so following a pain-free Cypher win right before it (in green). Had some strong selling pressure here we can see from the indecisive candles, which is actually right at the 88.6% retracement (our entry point).
This is still a valid pattern as our X leg hasn't had a close above, so there's an...
Heres another Bat pattern formation on NZDUSD 1H chart. Actually still valid to enter if you missed this, as we haven't broken below the X point yet, so better Risk Reward if you enter now.
Hoping for 2 targets on this bat pattern and in line with underlying market trend.
On a side note, Happy New Year everyone!
Here we have a 4H Bat pattern in yellow which I've been watching for a few weeks. However, when we go down to the 1H chart there is an at market Bullish Bat which would bring us up to the 4H completion zone. Gives us an opportunity to run for a third target with a great Risk Reward (4.7!)
Been watching this Potential Bat pattern for a while now. Recently we have had a break of structure to the upside indicated by the break of the first green box, and we are now retracing back down into it. I would now be expecting the market to again make a NSH into the bat completion zone, before rolling over for some profits. If we get up there that is...
Nice 4H winning Bat pattern. Didn't get chance to make a post about this but rolled over without pain to both target one and target two giving us +98 with .382 and .618 fib targets!
Potential Cypher pattern EURCHF 4H close to completion. Pay attention for .786 retracement being hit to make it a completed pattern. Looking for 2 targets both with underlying 4H market direction (bullish)
Been watching this USDJPY potential Bat pattern formation now for a week or so. Recently broke 3 levels of structure (green lines) to the downside indicating we will be pressing down to a Bat pattern completion! Probably looking for this to happen early next week but we shall see.
Good Risk Reward on this too if it happens - looking for target 1 and...