This rebound in DXY was predicted a week ago, when I highlighted a potential bullish shark completion around 96.50.(See related idea) It went to 96.25 before rebounding yesterday. Going into next week, I am expecting DXY to continue slightly higher to test 97.15 before it resumes its fall again. At 97.15, it will complete an alt bat pattern. Stocks should...
We have a potential shark pattern completing on EURAUD. It might be doing a C-D move of the shark right now. Some interesting observation: 1. NFP was on thursday, but there was a huge vol spike on Friday 2. Hidden buyer or hidden seller? I'm expecting usd denominated pairs to go higher this week with Euro leading the pack. Stock indicies should also inch...
USD index a.k.a the DXY looks poised to weaken further. With NFP tonight, I expect good news for the stock market and further weakness in the dollar, what news it is gonna be I will not be interested. Last Saturday I did a webinar with Scott Carney, founder of Harmonic trading to talk about the markets. I went on to cover what I feel about USD denominated...
Bitcoin looks to be rebounding off the lows last week. It could complete a bearish shark around 9640-9680. Right now is just a waiting time, will consider whether to go short after price test the entire PRZ zone. If it breaks up and hits XC 1.27, there will be no trade. If it reverses with healthy volume from the PRZ, I will be going short. This current...
AUDUSD looks to be heading north, there could be some rebound in the stock market this week I guess, with falling USD. Is the FED planning a new stimulus again. My view for AUDUSD is that it should go up and complete a bearish shark pattern around 0.6960-0.6970. It will be wise to wait for patterns to complete before getting into the trade. If you are...
Same as Aussie, I am expecting one more rally for EURUSD this week before any further weakness. I see a potential bearish shark completing at around 1.1340-1.1350. We can either wait to short the shark or do a buy from C-D. The C-D move will be riskier but comes with decent R:R. For shorts after bearish shark is completed, SL has to go above XC 1.27, targets...
EURGBP completes bearish shark, signaling potential further weakness for this currency pair. Last night, I shorted EURUSD on a bearish shark too at around 1.1380. (See related ideas) Riding on a tidy profit for now and this morning I shorted EURGBP too on this shark pattern. If you intend to join me on shorting EURGBP, SL has to go above XC 1.27. Targets at...
Last week, I wrote about shorting eurusd around 1.14. I need to see a nice exponential volume happening around this area for a trend reversal to occur. It happened last night even though I am not aware of what happened. In the hourly time frame, it also completed a shark pattern, so I have shorted both eurusd and audusd today. Stops will be at the 1.27...
GBPUSD has completed an alt bat and is reversing. SL has to go above XA 1.27. Targets at AD 382 and 618.
EURAUD looks to reverse from the lows this week. Once it breaks the slanting tl, it could start a BAMM move which will complete the big bearish bat. Traders can look to buy this move and wait for the bat to complete before shorting. If you choose to short the bat, SL has to go above XA 1.27. Targets will be AD 382 and 618. Last week was a week of waiting,...
Bitcoin last week completed a bearish shark and fell. It then formed a 5-0 pattern. This week, i am predicting a retest of 10k level to complete a bearish bat. This 10k level is really tough to overcome, i think it will need multiple tries before it finally breaks cleanly above this level. When the bat completes, i might look to short it again, but...
Last week i posted about a bearish crab + deep crab completing around 1.1170. This week it reached this level but it has yet to break any support trendline for first confirmation of weakness. Today, it went higher, breaking previous highs. Some weeks, it is just about being patient and not trading when it does not meet your rules. looking at the big...
CHFJPY has completed a bearish butterfly pattern. I am now awaiting a break of the support trendline to go short. SL has to go above XA 1.618. Targets will be at AD 382 and 618. USDCHF also completed a bullish deep crab, could there be a big move incoming on CHF? Let's wait and see.
AUDNZD looks like it is completing a bearish shark. The c point is not at ideal 1.13, however I checked with Scott Carney on the rules and he taught me that a fake breakout A can still be a valid point C for a shark pattern. i will be waiting for some support to break before i go short. (black trendline) No break no trade. Stops should go above XC...
NZDUSD looks like it is completing a bullish shark pattern on the hourly chart. The big trend for usd denominated pairs are all bullish, it is wise to go with the big trend and trade the trend following harmonic patterns. Caught 2 big moves in EURAUD and GBPNZD last week, EURUSD is also approaching the crab/deep crab pattern as highlighted. Overall I had a...
GBPNZD has completed a bullish crab at the moment. As the bigger trend is still down, it will be prudent to wait for some resistance trendline to be broken before we go long. Worse case scenario, GBPNZD might head lower to complete a 1902 crab before reversing. Alot has to do with price action over the next few hours/days. If price breaks trendline...
CADCHF has completed a bearish shark pattern. I am now awaiting the break of the support trendline to go short. If it does not break the support, it could go higher to complete a 1.13 shark. If it successfully breaks below trendline, my stops will be at XC 1.27 with Tp at CD 0.5 and 0.886. Good luck and good trading everyone!
I see a deep crab and crab formation on EURUSD. This suggest that EURUSD could go higher this week after hitting target 1 on last week's bat pattern. This move can bring EURUSD to 1.1160-1.1170. We can be patient and wait to short or go long on this C-D move. According to crab pattern rules, SL has to go above XA 2.0 Targets will be AD 382 and 618.