After the formation of the Expanding Flat( continuation pattern ), there is a potential for price to push north to the 1.0800( Round no. ). Therefore, buying the flag breakout is a good trade. Trade with care. Use a strategy you have tested and verified. 6.1.8. Family. More Than Just Trading.
Price is in the C-leg of a Gartley Pattern which can continue to develop. At the moment, I'm only looking for a sell setup to complete the potential Gartley Pattern or to complete the X-wave in the w-x-y-x-z sequence. I would want price to give a confirmation for the buy trade at the completion of the Gartley Pattern before I will be interested. Trade with care....
Price is in a corrective mode or perhaps in a consolidation phase. There is still a possibility for a move up after a retest of the structure line. I was looking at a possible Cypher Pattern for the long trade but the fib. requirement wasn't achieved. Nonetheless, the move up before the drop is very likely. On the contrary, price could drop after the break of the...
This corrective structure is likely an Expanding Triangle with the yellow shaded region above the "upper structure line" being an "overthrow".This gives an opportunity for a short position on the EURAUD. Trade with care. Use a strategy you have tested and verified. 6.1.8. Family. More Than Just Trading.
It looks like price has made an Expanding Flat which can only be confirmed once price reaches the low. Moving up the timeframe to the 240 mins shows a gang of wicks at the "Rejection Area". That being said, selling after the break of the line is not a bad idea. Trade with care. Use a strategy you have tested and verified. 6.1.8. Family. More Than Just Trading.
GBPUSD -0.13% is squeezing at the bottom as an A-B-C structure is in the making. Also, there is a bullish divergence signaling a potential change in direction soon. Therefore, a buy trade to the 0.382 fib. level is a good idea. Trade with care. Use a strategy you have tested and verified. 6.1.8. Family. More Than Just Trading.
This is a small buy opportunity with the expectation that price makes an Expanding Flat. A test of the "High" is the minimum requirement to form the Flat. However, the move up is likely to reach the 0.50 and 1.272 Fib. confluence. Trade with care. 6.1.8. Family. More Than Just Trading.
This buy trade is likely to be a good one as it looks like sellers are losing strength. This is because, sellers retraced almost 100% of leg 1. However, sellers are struggling to beat their record of 100%, this time only 50%, given price movement at the time of the analysis remains the same. One can argue that sellers came in at the completion of the Bearish Bat...
At the moment I'm watching this pair like a hawk for a potential buy setup to ride the wave up to the complete the potential expanding triangle. The beauty about this trade is that this is the first I'm potentially going to identify an expanding triangle in real life trading. However, I'm not 100% convinced this will be a triangle based on some other things I'm...
It looks likes buyers are taking a rest ( creation of flag ) after the "1st Impulsive Wave". If the move up continues, buying the flag breakout is not a bad idea. The move up is likely to test the "High" with a possible extension to the 0.27 fib. level. 6.1.8. Family. More Than Just Trading.
A possible retest of the "low" and an extension to the -0.27 fib level before the trend up resumes. 6.1.8. Family. More Than Just Trading.
Recently, I have been in a draw-down which is like being in an ocean without knowing how to swim so you are constantly in and out of the sea. I always end up in the red every time I'm in the green. But I certainly know I will be out of this draw-down, and it's only going to take "One Good Trade". I'm not sure if it's this buy, but I can sense it coming it even...
Price has created a potential "Regular Flat" which can only be confirmed when the "Low" is tagged. A sell after a flag formation to the lower structure level is not a bad idea. 6.1.8. Family. More Than Just Trading.
For the majority of time, Buyers have been in control since May resulting in a "Higher High (HH), Lower Low (HL)" sequence. However, have the Sellers had enough and maybe looking to gain control? This can only be confirmed once the "Buyer 1 Zone" is breached. For now I'm looking for a short opportunity. Happy Trading. 6.1.8. Family.
With this trade, there are two buy entry options( Cypher Pattern or Flag Breakout ). Aggressive traders can enter at the Cypher Pattern completion while conservative traders take the flag breakout. Personally, I prefer the flag since I have a bias EURUSD might fall further so waiting for a confirmation is not a bad idea. But I can't be 100% certain what the...
Although the fall in price from its peak is a struggling one, there is still a possibility for this to continue to test the dashed trendline . If the dashed trendline is disrespected, the fall is likely to continue. 6.1.8. Family. More than Just trading.
I have been stalking this pair for some time and finally it looks like the buy trade will trigger. If price pushes up in a sharp form it confirms Elliot's guidelines about alternation since the previous correction in this entire wave down was sideways. Overall, this has the potential to be a good trade to the 618 fib level. 6.1.8 Family. More Than Just Trading.
Price has made 3 legs up ( leg 1, leg 2 & leg 3 ). So is it time for a correction of the entire wave up before the bulls come dominating again? What is not clear is if that's the end leg 3. However, if price breaks the mini trendline and holds, that could be the beginning of the correction . On the contrary, if price decides to go up, I will try my best to...