Phasing out bat-week and taking on this butterfly:- we have an AB=CD pattern with a near-perfect butterfly forming within the BCD waves of the AB=CD. The D points both conclude bang on a weekly pivot line. Patterns on the daily chart are always reliable and i'll be looking for an entry on the 4hr after a signal candle.
Happy Harmonising!
AB=CD ratios
C:...
Sadly my previous idea failed. But luckily a Bearish Harmonic Pattern completed. We can hold all the way down or we can hold to the target of 61.8. I am personally holding it all the way down.
Extreme bullish harmonic impulse wave within a 88.6% retracement of 0-X leg, i think AUDUSD may reversal at 0.7496 zone, it's a good risk reward ratio, it need a CONFIRMATION first, confirmation will be RSI crossing 30 level, Min SL will be low of RSI confirmation candle, if there are not those conditions SIGNAL would be INVALID
I published an idea on this a little while ago, with some minor modifications the formation still looks to be intact. Indicators show the stock to be nearing oversold territory. As an added bonus, a Morning Star Doji formed today, which would be confirmed with a gap up tomorrow.
See the link to my original idea for more information.
After forming a perfect Head & Shoulders pattern, a larger Head & Shoulders is taking shape.
The already completed H&S pattern is pretty much a picture perfect formation.
- Left shoulder shows strong volume on the upside and lower volume on down days
- The head shows increased volume on positive days at the beginning, but volume fades as ALK makes higher highs....
Looking back we can see a very similar run of 3 tests of support then drops below support then back to test the new resistance.
Looking at the angles of these runs between the tests of Resistance we can see they are averaging around 58%
We can see previously it tests 3 times before pumping up half way before coming right back down below support. This is something...
