Price with this pair has began to range- the ideal market for harmonic patterns! Among the chaos, we have a bearish bat formation- expecting price to drop from around 1.12 to 1.06, a potential return of 600 pips! Stop loss just above the high prior to the X point but still keeping the 1:2 risk:reward! Bat ratos AB: 0.382-0.5 BC: 0.382-0.886 CD: 1.618-2.618 XD: 0.886
Hey all, Just found this at market Cypher pattern on AUDUSD, It did complete a little earlier but is still valid as the X leg hasn't been broken. Will be looking for the usual 38.2 and 61.8 targets, and the stop loss I have on this is the 113 fib. Risk Reward is actually pretty good for a Cypher, as normally it's slightly less than 1:1! Will be looking for a...
GBPUSD has been in correction for sometime, since its seems like a triangle correction, we should wait for the fifth point E to be complete before selling.
Good morning traders! I just got shot this CADCHF on a breakout trade. There is something that I like about this breakout and it is the fact that it lines up with structure looking left too. Meaning that a break of the pattern also means a break of the structure, and that is exactly what happened. Just got short, little late but on the same price. I will be...
Hey Traders, Bat Pattern completion at 0.76989, Targets at the 38.2 Fib Retracement of the A-D leg with stops being at the 1.272 Fib Extension of the A-D leg. I'm a little late posting this, however, if you enter now (currently price is 138.950) this will work out to your advantage as you will ultimately get a better entry and a better risk to reward than if...
GBPAUD is forming a bat pattern soon. Targerts and stops on chart! Happy trading
Last two days have built a wedge pattern on the 60min Chart. Wait for the Breakout in one of the directions to get in. If it breaks out to the top, stop loss is below the yellow middle line of the wedge. Target is next structure (Red line). If market breaks out to the bottom, target is next structure to the downside (Green line) and stop loss is above the yellow...
GBPJPY Bullish Butterfly & Symmetrical Triangle Chart Pattern (Wait the breakout & Retest for confirmation) Wait the point D to go Long (you can Short after the retest) TP1= 0.382 C-D TP2= 0.5 C-D TP3= 0.618 C-D @forex_millionaires www.instagram.com
I'll be watching this one to see if it can hold over the 9.75 level. It had nice run on Friday and closed around the highs, will be watching for any follow through momentum in the next couple of days.
Looks like next week can start with a potential trade setup: a bullish cypher pattern in FX:USDJPY . Target 1 is the 0.382 retracement, target 2 the 0.618 retracement which gives an RR of 1:1.3 for T1 and 1:2.1 for T2.
Curious to see if it will bounce here as it has before. Still long.