jamsterfd

jamsterfd

The GBPJPY hit a low back and the start of October 2016 and since then we have seen a reversal back to the resistance level tested back in December and May. We have now had the resistance area tested on multiple occasions during the uptrend with the trading range getting narrower. If the market breaks out of this pattern are we going to see a strong move upwards?

jamsterfd

In the past couple of weeks, we have seen a strengthening of CAD against multiple other pairs and against the AUD we have seen a clear Harmonic pattern, as well as a Wolfe Wave pattern, appear confirming the last point indicating that there could be a possible reversal. The bullish butterfly pattern still has some variability which could continue down to the...

jamsterfd

Since the beginning of the year EUR has been steadily increasing in value against the USD and is now testing the heights of the range which has been in place since the start of March 2015. Since February, we have seen multiple waves form during this upward trend as well as much smaller waves form recently over the past month. Both of these Wolfe Waves have now hit...

jamsterfd

A classic harmonic pattern can be seen coupled with an overbought reading on the RSI and contract expiration coming up

jamsterfd

We have both a bullish harmonic pattern and a wolfe wave pointing to a possible reversal area. Traders should wait to see if the price traces back up and closes within the wedge. If this point is reached a long position can then be entered with a take profit located around the 112 level. The price can still fall further from this area so a long position should not...

jamsterfd

For the past week we have seen a drop in the value of USDSGD following on from a harmonic pattern. The AB, BC and CD leg have formed the first 3 waves and after the recent reversal, we have seen an over extended move below the wedge to hit a new low last seen in September 2016. If we see the price reverse from this or a slightly lower price point and then a move...

jamsterfd

The Australian dollar has been losing value for the past couple of months that have been intensified due to changes in the tax for corporations which had led to muted rally in the SPI whereas most other indexes are making new highs. A harmonic pattern was completed yesterday proceeded by a fall with a retracement today but not back up to the high. The pattern...

jamsterfd

If the price drops back into the wedge and closes within it, we could see a further move down to the bottom of the wedge and if there is momentum with the worries of a hard Brexit we could see it move down into the second Wolfe Wave pattern.

jamsterfd

We have seen a great run up in the EURUSD rate but the inflows into European equities is slowing and we could see a reversal back along the C-D line

jamsterfd

EUR has been dropping in value since the start of 2017 and has hit 3 new higher highs for each wave. This has created the first 4 waves of our Wolfe pattern and after the French election we see a reversal of the trend back into the wedge formed by the pattern. If the candle closes within this wedge the pattern would be complete and would indicate a further drop...

jamsterfd

Strong looking bullish butterfly

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Both a bearish and bullish harmonic pattern are forming but which point D will be hit first

jamsterfd

Two bearish harmonic patterns on the 4 hour and the Day chart. Very good area to look for a reversal after the recent strength of GBP

jamsterfd

We have seen multiple butterfly patterns appearing recently and this seems to be continuing with EURAUD. After the recent spike on Monday opening after the French first round of elections, we have seen the price touch the 1.4438 level to hit point D on the pattern. This has now complete all 5 points and has confirmed that the pattern is valid. A short position...

jamsterfd

For the past week, we have seen an appreciation in USDCAD which has traced up the C-D leg of a bearish Gartley pattern. Point D has now been met and according to chart theory, if the XABC points have all been met and the price moves towards the last level D and reaches that point, the pattern would indicate a reversal at this level and a possible retracement of...

jamsterfd

The AUDUSD rate has been declining since the middle of March towards point D but this has been interrupted by a short bounce and retracement which is creating a new possible harmonic pattern in the form of a bearish butterfly. If by the end of trading over the next couple of days, the price continues to drop to around the 0.75006 level we could see a possible...

jamsterfd

Since the middle of February, we have seen a drop in the price of AUDJPY which has followed the C-D line of a bullish crab pattern. The price has now reached point D which according to chart theory means the pattern has been completed and there should now be a reversal.

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The USDJPY 1D chart, the price has now followed the expected path and has traded back into the wedge and closed within the wedge completing the Wolfe Wave pattern. The green arrow on the chart indicates where this pattern was confirmed. Technical traders will now look to go long, with a take profit located at the top of the wedge and a stop loss placed either...