Vighnesh_Iyer

Vighnesh_Iyer

An AB=CD pattern is setting up on gold, with an expectation of a mild retracement before continuing on its downtrend. The C point retracement of the AB leg is just below 0.382, and not being a perfect retracement does hurt the pattern's chances of accurate future prediction. Additionally, time symmetry is not good for this pattern, so we need to be wary when...

Vighnesh_Iyer

We are looking to short the market as price comes up into the resistance area marked by the red rectangle. Many Fibonacci ratios line up perfectly inside the reversal zone and the 1.27BC projection with the equivalent AB=CD completion define the reversal zone tightly. Also drawn is a Fibonacci extension from the A to B point with its 1.27 level coming a bit above...

Vighnesh_Iyer

We are looking for price action to descend into the potential reversal zone (red rectangle) and are looking for a small reversal. The higher timeframe analysis doesn't indicate a definite uptrend, so be cautious taking this kind of trade. We cannot use buy stop orders at the PRZ since price action and confirmation candles will determine whether we will actually...

Vighnesh_Iyer

NZDUSD is looking to complete a bat pattern, and we are looking to ride the expected rally from the C point of the pattern to its D completion. Known as a BAMM in Scott Carney's book, I have seen this short term strategy pay off with a high win rate. I have also completed the drawing of the bat pattern with its potential reversal zone (red rectangle), so we can...

Vighnesh_Iyer

Gold just completed an bullish AB=CD pattern on the 60 minute chart and has rallied from the tight potential reversal zone, which is well defined by the extreme 3.618 BC projection. Support/resistance lines are well defined by the 2.618 and 3.14 BC projections. Gold has just pulled back into structure support, and we are looking to buy the CFD after price action...

Vighnesh_Iyer

It might appear that a Gartley pattern has already completed on this pair, but the true potential reversal zone is defined primarily by the 0.786 XA retracement. The B point is not a precise 0.618 retracement of the XA leg, which is what makes this setup imperfect, and potentially invalid. I would wait to see what price action does in the reversal zone (red...

Vighnesh_Iyer

Very tight reversal zone created along major support level for USDCHF with an AB=CD pattern. Equivalent AB=CD completion and 1.27 BC projection line up perfectly. Market has put in a double bottom on the 4H chart with RSI divergence. Wait for a pullback into structure, and go long. Fundamentals support dollar strength.

Vighnesh_Iyer

Gartley pattern just completed on AUDJPY. Some harmonic measurements don't line up just so, but the reversal zone is well defined, and price action seems to have stabilized posed for a further move downward. There is also a double top on the 15 minute chart with RSI divergence. UPDATE 5pm PST 3/20/14: Should have taken off first targets at the 0.382 retracement...

Vighnesh_Iyer

Double bottom hit at a major resistance level that hasn't been violated since 2005. RSI divergence. Look for a reversal candlestick pattern, and targets around 1.11800.

Vighnesh_Iyer

Tight reversal zone created with a 1.618 BC projection, 1.277 Alternate AB=CD completion, and 1.277 XA projection. Market almost hit the reversal zone, but has put in a nice double top (easily seen on the daily chart), with RSI divergence (overbought:80, oversold:20). You could short the market now, or wait for a possible move higher and test of the reversal zone....