Very harmonic stock, first bat pattern start at July, which completes and reverses nicely in Oct. The D point of the first Bat Pattern forms the C point in AB=CD. D point reversal also forms the X leg of the second Bat Pattern of which the A point completes where AB=CD, and sharply reverses. Price reverses off the .886XA in the Gartley Pattern which Fibonacci...
FIRST, as we can all see ,gold has met the trend line resistant SECOND, gold has just ended the AB=CD move, theoretically gold will have more space to the downward at the future
Almost AB=CD pattern completes and also price at key resistence, Preferably short after watching price action.
Buy at EPA line of Bearish Wolfe Wave pattern then take profit at target of ABCD pattern.
If we end up getting a LLLC here on the EURAUD, my prediction for the next place that we'd see some buying pressure at is down at the 1.5050's-1.4950's level. As a buyer, that's where I would look next if I'm interested in trying to catch a pullback. If I'm a seller, then I'm looking for a retest of previous structure & a chance to hop on the downward move in...
1) AB=CD pattern completion at 1.1960 (1st chance to short) 2) Possible BAT patttern at the same level -also a DT (2nd chance to short) 3) Break of 1st minor trend line (3rd chance to short) 4) Break and retest the mayor trend line - We are in an uptrend so maybe the pair to check the mayor trend line and continue upward Each trading setup has different rules...
FX:AUDCAD Safe Trades;
TP1: 618.76 TP2: 586.73 TP3: 554.69
FX:CHFJPY Sell the breakout, buy the patterns. Broken Structure; Nice cluster below the 127% extension: 61.8% of XC; 141% ext. ab; 161% ext. bc; This will complete an ab=cd pattern. Safe Trades;
Fun with Fibonacci! Fibo here, Fibo there, Fibonacci everywhere! I have found the 0.382 level important for change in trend. lets see how it will works
In my previous post on EURNZD i posted the potential of a big move in the coming weeks. After the breakout price is in a consolidation and it's about to complete a bullish ABCD pattern with D point at the broken long term downtrend. This pattern has great chances to start this upcoming rally. For my previous analysis on EURNZD click the link below this post..