60min
USDJPY 60min H&S Pattern + @MKT CypherUSDJPY has carved out some interesting technical patterns.
Currently, we have an at market Cypher Pattern.
I'm looking at the H&S pattern that formed at Strong Resistance and will looking to sell a rally back into the pattern. Targets are shown on the chart. Stops are 1 ATR above the right shoulder and plus a few extra pips to get my stops behind that random wick.
Best of Luck
EURAUD 60min Bull TCT + Bat PatternEURAUD is in a higher time frame bull run. I will be using the Bull Bat Pattern for entries to buy up this pullback.
Best of Luck
USDCAD 60min Bear TCT + Bat PatternUSDCAD has been in a very strong downtrend. It just broke support and is now pulling back into the form of a Bearish Bat Pattern. I will be using the Bat Pattern for my short entry and will be taking targets back down at the lows.
Best of Luck!
GBPJPY 60min Bear Bat + Double Top @ Entry + TCTGBPJPY has been in a Bearish Trend. It has recently pulled back into previous structure in the formation of a Bear Bat Pattern. Price has now Double Topped at the Bear Bat entry point with RSI divergence. For me stops will go 1 ATR Above the Double Top and I've shown a few examples of where one could take profits. Great R:R no matter where you are taking profits.
CTS Traders:
- Structure
- Bear Bat Pattern
- Double Top @ Structure Zone
- RSI Divergence
- In the direction of Trend
How much more can we ask for!!?? IF this type of trade is in your trading plan THEN it's a no brainer!
Best of luck in the Markets
EURGBP retracementthe pair is reaching a critical stage on the 60min charts, its currently at daily resistance with it hitting the special 61.8 fib, looking for longs here, just waiting on confirmation.
Possible Elliot Triple Combo formation occurance on USD/DKKAs you can see in the 1 hr timeframe, you'll see a downward trend emerging in a WXYXZ pattern with the Z hopefully play part in the formation.
Also drawn on the chart was a green support zone which indicates the market moving to the uptrend as the previous candles are touching this support line approximately 4-5 times.
This gives me enough indication that the market will hit to the upward and rally on until it hits the Z formation of the pattern and begins to downtrend to continue on the pattern merged previously.
SL and Take Profits are all listed.
BRENT - Five waves as potential final wave of ZIGZAG.If there is a reversal, these double ZIGZAGs could be part of a flat ABC on daily.
Good luck!
UKOIL - Five waves completion: correction time for daily ZIGZAGThese five waves could be an "A" wave. If breakout occurs, the retracement of the "B" wave (hourly correction) may reach the 38.2% (as you can see on chart).
Happy trading!
GBP/JPY Short OpportunityHigher time frames are in a down trend. Waiting for an Ichimoku-MA crossover for a sell opportunity if RSI is either overbought or is testing the 50.0 level.
UKOIL - Elliott wave count for BRENTIt is an impulse. It is completing five-waves as third wave extension. The last strong hourly downtrend was a ZIGZAG.
Happy trading!
GOLD/DOLLAR - Potential ZIGZAG before the BIG SHORT!It assembles more likely a ZIGZAG to the upside.
On daily chart I am assuming that an ABC has formed as second wave. My forecast for long term is BEARISH.
LIKE & FAVORITE to be updated.
Cheers!
GBPUSD Potential BAT Pattern opportunityHello Traders,
Today I have a Bat advanced pattern potential completion on the GBPUSD 1H. If this bat completes, it will technically be invalid because of an invalid risk/reward profile according to my stoploss rule. However, since this pattern is on the 1H (relatively smaller timeframe), I will allow myself to move my SL placement to a 1:1 risk/reward in order for it to become valid.
Hope this helps !
Gold 60 min shortDon't usual dabble with commodities or metals but this looks like a potential trade to go short.
The triangle formation shows a massive reversal of the uptrend plus the double bottom has been formed and continued on with a big short bar.
