#EURUSD Cypher, Butterfly, Round Number, Support ConfluenceEURUSD Cypher, Butterfly, Round Number, Support Confluence
Confluencetrading
Why #AUDUSD, #EURUSD, #GBPUSD & #NZDUSD Fell TodayTraders, DXY (Dollar index) completed a pattern few days ago and the first target of that reached today at 38.2 Fib where a lot of profit taking suddenly raised DXU up causing other USD pairs to fall. This was expected and was also evident from respective harmonic patterns on these pairs.
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#CADJPY - Double Top, Great R:R Opportunity, Top Down AnalysisCADJPY could be forming a double top at the completion of 2 harmonic patterns inside a supply zone. This can be a very good shorting opportunity.
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#CADJPY Short Opportunity #HarmonicPatternThere is a fibonacci based harmonic pattern completing. The opportunity is right at the market sell.
#EURUSD Update - Another Pattern To Us Take To Profit ZoneTraders, I am long on eurusd from the zone that I mentioned in my weekly analysis. Please check that out if you have not. (see attached idea). Now that market has reached 38.2 first target and it has broken that structure, I have moved my stops to lock in profits and derisk a bit. I am expecting 61.8 profit target level now.
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#GBPUSD Update: Another Pattern? Whats Is Happening?GBPUSD Is still on the right path towards the 38.2 fib level target and it may just be in the process of making another pattern to confirm that target level. See my weekly analysis video before this to get a full idea of what is happening. (see attached idea) Ba careful of Brexit coming in 2 weeks. Better to stay out and watch than trade wrong with high risk.
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#NZDUSD Two Harmonic Patterns Setting Up 5:1 R:R - Buy NowNZDUSD can give us 5:1 R:R trade if we manage this trade well. The market is right right at the moment to buy with minimal risk.
#USDJPY Fibonacci Confluence Weekly AnalysisHi Traders, USDJPY has come to a region where it is a good candidate for short position. However we will have to manage the trade properly.
#EURUSD Gartley Pattern Is Another Reason To Buy In The ZoneSee the attached trade idea. Now that market has moved and created a correction leg, if it breaks the mid point at 1.1124 then we are looking at that purpule zone where we have good confluences.
#GBPUSD Top Down Fibonacci Confluence Weekly AnalysisHi Traders, Here is weekly top down analysis of GBPUSD using fibonacci confluence. I am bearish on GBPUSD for now and based on few levels it can be bullish. But we must remember that we have Brexit coming too which can make this pair drop by a lot.
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#EURUSD Top Down Fibonacci Confluence Weekly AnalysisHi Traders, Here is top down analysis of EURUSD using fibonacci confluence and harmonic patterns. As you will notice that how wonderfully fibonacci levels and fibonacci extensions work in the market. Currently the set up is very bullish in the medium to long term. But we are watching the current important level for that to happen.
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#NFP Dollar Index Bearish Bat Pattern - Ready To Go Down #NFP Dollar Index Bearish Bat Pattern - Ready To Go Down
#AUDUSD Reached 38.2 Fib Take Long Or Wait For Entry at 61.8Hi Traders, AUDUSD Reached 38.2 Fib as expected and we have a lot of confluence there. However on Daily timeframe it is getting overbought so we need to be careful. If the market shows rejection at 38.2 then we can add to our long positions else we will have to wait for 61.8 level where more confluence is. If the entry has been taken at 38.2 then stops will have to be below 61.8 naturally.
#GBPUSD Plan For Consolidation Phase-Use Patterns To Take Profit#GBPUSD Plan For Consolidation Phase-Use Patterns To Take Profit, we have 2 patterns now. One for long entries and other for short.
#USDCHF Prev Pattern (Long) Creating Another Pattern (Short)USDCHF as we observed (see related idea) had a pattern completion and we went long in the anticipation of 38.2 Fib level which has not reached yet. The market has created a 50% retracement and now could be forming a bearish at pattern completing right where we have our long position target i.e. 38.2 (0.97917). We can add to the long position when 0.97438 is broken or we can plan a short position again from 0.97917
#GBPUSD Another Bearish Pattern Forming UpIf 1.32826 level is broken then we have this pattern where we can either start or add to short positions.
#AUDUSD - A Pullback For Huge Opportunity - Weekly AnalysisHi Traders, AUDUSD is pulling back as expected pretty much like EURUSD. However because in recent weeks it has been creating new highs, we can expect it to continue with that. This current pull back with USDollar over sold, we can get a very good opportunity to go long. We must watch the zone carefully and any sign of bullish movement. The zone has confluence of 38.2 Fib, Round Number 0.6900, trend line and 200 sma.
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#GBPUSD - Watch 38.2 Fib For Short & Long - Weekly AnalysisHi Traders, GBPUSD has been falling down after test of 61.8 fibonacci level but that is expected because of completion of a harmonic pattern. The last bound was from 38.2 fib level of this pattern and now if that level is broken, we can expect to move towards 50.0 or 61.8. At 50% we have confluence of 200SMA, trend line. So we must watch that area for taking profits on short trade and going long.
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#EURUSD Positioning For Huge Rally - Top Down Weekly AnalysisHi Traders, In this top down weekly analysis we see where EURUSD is going and what has been causing to reverse at various points. We also see how Fibonacci plays out in the market along with other factors such as trend lines, support and resistance, moving averages. We look at how to identify W and M patterns and use then accurately with fibonacci ratios on multiple time frame for accurate entry, stop and exits.
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