MarcusWyatt

MarcusWyatt

Also indicated is the large 0.8300 NZDUSD option for NZD 600 mln rolling off today at 15.00 GMT. For more info on option expiries, etc. see www.forexlive.com All I'm saying, it will be pretty nifty if this pattern does complete at the expiry of the option.

MarcusWyatt

Possible Gartley pattern in the near future

MarcusWyatt

Firstly, in play is the Bearish Bat on the 4H, with a possible Bullish Gartley on the 1H.

MarcusWyatt

After the rallies we've seen the last week and a half I did not think the Aussie might be slumping again. But hey, it's a bearish harmonic pattern. The long term trend on this pair is still bearish, so I am not going to ignore this pattern. Currently, I'm riding the Aussie up on Risk on sentiment. But that seems to have stalled at the 0.9042 level. So there is...

MarcusWyatt

The Aussie just broke out of the Bearish Pennant, after a week of trading in the 0.8822 to 0.8680 range. If we see a move lower, I believe we should see the 0.8550 level where the PRZ of the Bullish Crab is located. That would be a good level to go long on the Aussie, since the market should be pretty exhausted and over extended to the downside.

MarcusWyatt

The outside return of the EURUSD has been stalling at 1.3514 level, which co-inside with the 38.2% Fibonacci retracement of the AB leg. We have significant structure around the 1.3514 level with the level forming numerous Support/Resistance points. I think price action is going to reverse around the 1.3514 level and then move lower towards the PRZ at the 1.3250...

MarcusWyatt

The AB=CD pattern, with a BC outside return breaking the 0.618 retracement level, but not touching the 0.5 retracement. The 1.272 extension level at 1.36402 comes in just below the previous structure high level of 1.36459, giving us a nice lower level for our Price Reversal Zone. Using the 1.618 extension AB=CD Reciprocal Ratio for the BC retracement of 0.618, we...

MarcusWyatt

The Bearish Bat setup on the AUDUSD is not perfect, but good enough for me. Currently I'm 26 pips in profit. Awesome...

MarcusWyatt

Entry: 1. MACD Bearish Divergence on Daily chart 2. 1-2-3 Setup 3. Break of resistance trend line The plan is to open your position on the Trend Line break around the 1.33500 price point and hold that position until we reach the 1.28500 price point, just before we bounce of the support line at 1.27770.