Here we have a bearish bat on the euro-cad. I did not take this trade- I have avoided Euro 0.08% trades throughout the french election, but this one is still worth noting. TP level would be 61.8% of the distance from A to D with a risk:reward of at least 1:3. Bat ratios: B: 0.382-0.5 C:0.382-0.886 D: 1.618-2.618 xD: 0.886
Price movement on the dollar-franc is forming a bearish butterfly (if the next wave makes it that far). This pattern has been drawn up really early, but we'll see what happens. The D point is approaching a key MONTHLY support/resistance area; we all know monthly s/r is stronger than weekly or daily! I will post this as an update below. If price does reach my PRZ,...
Over the weekend I am looking to get a lot of charting done. First I am looking at a long 5-O position on the euro/aussie on the daily timeframe. Price has spiked against the weekly trend line, which I expect it will do so again. I used the XABCD tool to map the 5-O; where our B point would be on the pattern (C point on the tool) is a solid 1.618 extension of the...
Here is a bullish pattern forming on US Oil- if price dips to this level it will be a KEY area for support! If I decide to take the trade this may be relatively longer than my usual swing trades due to being drawn up on the daily chart. Either way, it's good to draw up and look back on! I may have a glance over the oil inventories before taking the trade ;) Bat...
Price on this pair has reached a level of resistance and, according to the cypher pattern, should almost be ready for a short. We have NFP coming out so we will not take any trades until after the initial reaction simmers, but going into next week this will be a pair to watch! There seems to be a support level surrounding the 38.2% retracement level form C to D;...
Here is a bullish 5.O on the GBPAUD. Now, I have not taken the short on this trade as there is a release of the interest rate from the Reserve Bank of Australia. This will severely affect the movement of price. However, once dust settles, I MAY take the long of the 5.O. This is one worth keeping an eye on! Shark Ratios C: 1.13-1.618 D: 1.618-2.24 xD:...
The Cad is proving to be rather bullish heading into this week- here we have a bat bouncing along a pivot line. Price has already began to stall out at the D point and I have taken a long position. TP will be at 0.618; I will move my stop to break even once price hits the 0.382 level. I do not use indicators when deciding wether or not to take a trade, but an...
The Daily Chart on the GbpCad is providing a very bullish set up. If price reaches the D point of the butterfly I will be shorting until the 50% retracement from C-D (where the 5-O completes). There shouldn't be any fundamental intervention until Bank of Canada Governor Stephen Poloz Speech in Mexico on the 4th of May; until then price will flow naturally. ...
Here we have a bearish 5-0 on the dollar-yen. Price is in a downward channel which has also provided a reciprocal AB=CD within the same pattern; the AB and CD waves are completely symmetrical. Price has already touched the 50% retracement and has began to stall- I have taken a short position and will hold until 108.3. My original stop loss was at 112.7, but...
Here we have a symmetrical AB=CD on the aussie-dollar. You are able to trade ab=cd's on their own, some may go long here. However, i'm not a fan. Due to the set up of this channel, I will wait for the 0.786 retracement, then, rather than waiting for the 3rd drive to complete, I will short the 3rd drive as it reaches the top of the channel. Combining technical...
Here we have a bullish set up with the USDCAD pair. Price has broken the neckline, burst north and created a higher high; we are now between the 1.168 and 2.24 extensions of the 5-0 within the right shoulder. A 50% retracement accordingly from anywhere between these extension levels will create a new low and should provide a great long entry at support around the...
The strength of the Swiss Franc has taken the majority of its pairs south over the past few weeks. On this pair in particular, price is WAY oversold! In addition, if you take the love from the bottom of the wick at this pair's previous low and draw a trend line to the X point, the 0.786 retracement required for a cypher pattern fits onto the trend line almost...
If you glance at the daily chart for this pair, you can clearly see that price is rising in a channel formation. However, the recent high has met the same resistance as the previous high at 1.03. The strength of this resistance would provide a good entry for any bearish harmonic pattern. With that in mind, from the most recent high, we have a bearish 5-0. Going...
Phasing out bat-week and taking on this butterfly:- we have an AB=CD pattern with a near-perfect butterfly forming within the BCD waves of the AB=CD. The D points both conclude bang on a weekly pivot line. Patterns on the daily chart are always reliable and i'll be looking for an entry on the 4hr after a signal candle. Happy Harmonising! AB=CD ratios C:...
Hey, guys, Bat week is still in play; here we have a bullish bat on the euro-pound. Price has begun to move sideways and has entered into a pennant shape. The bat completes above a conservative support line- I probably would get away with pinning it on the D point but i'd like to stick to the wicks. Stop loss will be placed just below the X point, with a 3/1...
Here we have a bearish 5-0 completing inside a channel. I have gone short since the top of the channel and will be holding that position until 0.985. The 5-0 also helps complete the consolidation waves of the Gartley. The Gartley completes among a strong pivot area on the daily chart where price has previous made a major reversal. As previously mentioned, I am...
Happy Friday, Troops. I haven't been active in a while- I've been working on those 5-o's. They still aren't doing anything for me, I'm a much bigger fan of the Ms and Ws, but here goes. As harmonic swing traders we look at the daily chart for direction and use the 4 hour to find a pattern that fits direction (in a nutshell)- I occasionally look at daily patterns...
Here is the followup pattern to the weekly pivot point on the NZD/CAD. The weekly pivot level runs directly through a close-to-perfect Gartley. Upon closer inspection, there is also bullish 5-0 in the making. The gartley dictates that we should sell at 0.977, with TP levels at 0.382 and 0.618 respectively In this instance, we will short the pair until the weekly...