olly_price

olly_price

Technicals This very strong trendline has been lasting for gold for some time now, and I don't expect it to stop, and it has just been touched, so this looks like a very good place to get in with a short position if you agree with this outlook (many will disagree!). Disadvantages The US economic data is currently not bad, but not great, and consumer spending...

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Very nice bat pattern on the NZDJPY pair hourly. Look to enter the trade at 76.377. SL at 75.720. Profit targets set at Fibonacci levels.

olly_price

Technicals Here we have a Gartely pattern (shaded grey) that suggests a mid-term rebound. From the blue Gartely pattern, we can expect this rebound to last into the $36/37 region, where we can then short the market due to this bearish pattern. Fundamentals The oil market is in quite a confused state at the moment. Supply and demand dynamics suggest no return...

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Getting prepared for a hopeful bullish cypher pattern to form here. 3 points of resistance against the line leading to our entry point, so hopefully we see a continuation of this short-term trend to form the cypher. Unfortunately not the best risk/reward. I'll be looking also to see if the RSI is in an oversold (or nearly oversold) position if the price reaches...

olly_price Updated 

I have posted a bearish trade on this same pair from a descending triangle (see link), the profit target of which is outlined here as the lower green line. If this wedge breaks out at 7 then the other trade will be closed out and I will have to hope for a win on this trade to make up for that loss. If the market hits the support line before the profit is met...

olly_price

This bat pattern is getting very close to completion for a midterm bearish trade from a symmetrical triangle that I successfully traded as well. The RSI is approaching an overbought condition, which will hopefully be reached in the next few days, supporting the case for this bearish pattern. I have placed a stop loss based on previous structure (I am exploring...

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H&S been forming since 6th January, broke through the neck line at the end of the month. Profit target is based on previous structure, as is the stop loss. Fundamentally, I think that a drop like this makes sense. Australia is seeing a lot of good economic data at the moment, so I think that in the near future we should see a rise in the AUD due to more...

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Approaching the apex of the symmetrical triangle drawn here. I am hoping for a break out to the downside at point 7. I would then expect a pullback at previous structure, and then have a main profit target at strong levels of previous structure. The upward break at point 6 is also potential for a small trade.

olly_price Updated 

We can see a descending triangle here with at least 2 nice touch points on both lines. I am looking to follow either of the two paths drawn and to enter in the green area. Profit target is based on previous structure support - there is strong structure levels in the late December 2015/early 2016 area at around 0.6740. Any movement back above the horizontal...

olly_price Updated 

Gartely pattern with a 1:1 ratio between the AB and CD legs. Very tight confluence area between the 0.786 retracement and 1.272 extensions, which will be my entry point and is indicated by the blue area. A relatively high RSI indicates that there is room for a short-term move down. Nice little potential day trade here for Monday. I usually stick to FX but...

olly_price Updated 

I'm currently exploring a strategy involving hourly charts but I thought that it can't hurt to look at a daily chart for a bit of fun. So this is a longer term trade than the previous few I have posted. Looking for a bat pattern to set up at around 0.4998, going short at the .886 retracement which can be seen above. Also a nice amount of previous structure...

olly_price Updated 

Nice cypher pattern here along with good previous structure support. The market will either break the support and complete SL or the support will stop the upward move and push the market into the profit area. RSI is approaching an overbought state, so hopefully it will reach this by the time the cypher has completed. Looking at the daily chart it can be seen that...

olly_price Updated 

Despite the fact that I have noticed this pattern slightly late, it is still within what would have been my SL had I noticed the pattern, so I am more than happy to follow its movement. I am of course bearish on this, which falls nicely with the high RSI reading 0f 66. I also have no fundamental reasons to think be ST-MT bullish on the Turkish lira.

olly_price Updated 

Just starting to develop a trading strategy with a demo account (I am first exploring FX, 1 hr charts, and 3 different chart patterns). Please ignore SL and profit targets as I will be varying these over the coming months during my research. So this is a bearish bat pattern, the second leg goes nicely into the 0.5-0.618 retracement area, third leg falls beyond...

olly_price

Can see a potential Gartely pattern. B point falls nicely between the .618 and .786 retracements. I'll be looking to go short around the 1.272 extension as shown by the dark blue box. I'm currently experimenting with stop losses and take profits on the demo account. Let me know what you think, and pointers that might help me along my way will be much appreciated.