EU
Bearish ButterflyThe Butterfly pattern , is a harmonic pattern discovered by Bryce Gilmore using his Wave trader software program.
The pattern structure was further refined using specific Fibonacci levels by Scott Carney which he outlined in his book 'The Harmonic Trader', published in 1998.
The Butterfly pattern must include an AB=CD pattern to be a valid signal. In general, the AB=CD Pattern will possess an extended CD leg that is 127.2% or 161.8% of the AB leg.
Due to the hectic day on EU I am late in publishing this pattern. However, the Butterfly pattern much like the Crab is a reversal pattern and as such we should expect price to at the very least break below the pattern and potentially hit TP3 before the reversal concludes.
TP2 ...
TP3 ...
Bearish Bat Pattern 15mThe Bat Pattern , is a precise harmonic pattern discovered by Scott Carney in 2001
The pattern incorporates the 0.886XA retracement, as the defining element in the Potential Reversal Zone (PRZ).
The B point retracement must be less than a 0.618, preferably a 0.50 or 0.382 of the XA leg. The Bat utilizes a minimum 1.618BC projection.
In addition, the AB=CD pattern within the Bat pattern is extended and usually requires a 1.27 AB=CD calculation. It is an incredibly accurate pattern and requires a smaller stop loss than most patterns.
Due to the Hectic day on EU I am publishing this Pattern very late, the importance of this pattern is that I used it to enter the larger Butterfly pattern with a much smaller stop.
The Bat like the Gartley is a continuation pattern that will, upon completion, follow the trend.
The pattern has already hit all three TP's and I would expect the trade to continue further in line with the Butterfly pattern targets.
TP2:
TP3:
Bullish Shark Pattern (1H) Revised measurementsThe Shark Pattern was initially released in 2011 by Scott Carney in his Patterns into Profits course.
The pattern is the primary structure that precedes a 5-0 formation. This structure is outside the typical M and W framework. It possesses a unique formation called an Extreme Harmonic Impulse Wave that retests defined support/resistance while converging in the area of the 88.6% retracement – 113% extension of XC.
In all cases, the completion point must include the powerful 88.6% support/retracement as a minimum requirement. In addition, the unique extreme Harmonic Impulse Wave employs a minimum 161.8% extension of the BC leg.
This combination with the 88.6% retracement defines a unique structure that possesses two profound harmonic measures to define the minimum level. In many cases, the price action will retest the initial starting point of the pattern and define excellent opportunities to take advantage of a market that has moved to far too fast within a limited period of time.
This pattern frequently defines excellent opportunities but these reversals are often sharp and require specific management strategies to capitalize on the phenomenon. In many situations, the price action will retest the prior support/resistance level and typically result in a limited counter trend move.
The measurements are now IMO correct. If you entered a trade on the previously published shark pattern I would advise taking full profits either immediately or at the very latest the neckline of the Head & Shoulders pattern (1H) .
The new measurements reflect the current Head & Shoulders pattern in a more logically structured manner.
Bullish Shark Pattern (1H)The Shark Pattern was initially released in 2011 by Scott Carney in his Patterns into Profits course.
The pattern is the primary structure that precedes a 5-0 formation. This structure is outside the typical M and W framework. It possesses a unique formation called an Extreme Harmonic Impulse Wave that retests defined support/resistance while converging in the area of the 88.6% retracement – 113% extension of XC.
In all cases, the completion point must include the powerful 88.6% support/retracement as a minimum requirement. In addition, the unique extreme Harmonic Impulse Wave employs a minimum 161.8% extension of the BC leg.
This combination with the 88.6% retracement defines a unique structure that possesses two profound harmonic measures to define the minimum level. In many cases, the price action will retest the initial starting point of the pattern and define excellent opportunities to take advantage of a market that has moved to far too fast within a limited period of time.
This pattern frequently defines excellent opportunities but these reversals are often sharp and require specific management strategies to capitalize on the phenomenon. In many situations, the price action will retest the prior support/resistance level and typically result in a limited counter trend move.
Now the Head & Shoulders (1H) has reached beyond TP1 for the first entry, I expect price to retest the neckline for the second more conservative entry.
I will use this Bullish Shark pattern long entry to cover (hedge) my remaining short position from the H&S.
The target for the Shark falls within the zone for the H&S second entry.
Bullish Alternate Bat Pattern (15M)The Alternate Bat pattern is a precise harmonic pattern discovered by Scott Carney in 2003. The pattern incorporates the 113% XA retracement, as the defining element in the Potential Reversal Zone (PRZ). The B point retracement must be a 38.2% retracement or less of the XA leg. The Alternate Bat utilizes a minimum 200% BC projection. In addition, the AB=CD pattern within the Alternate Bat is always extended and usually requires a 161.8% AB=CD calculation.
I am publishing this idea late again due to the Hectic day on EU yesterday.
The Alternate bat like the Butterfly and Crab is a reversal pattern that should if not followed by a reversal pattern counter to its direction break above/below the pattern.
However in this instance I believe there to be a Bearish butterfly pattern being formed within the target levels of this pattern. I will attempt to publish this butterfly pattern prior to entry.
The confluence of factors, the Head and Shoulders (1H), the previous Butterfly (15m) should apply enough bearish pressure to stop the Alt Bat from reaching TP3 or even breaking above the pattern.
Bearish Butterfly Pattern (15M)The Butterfly pattern , is a harmonic pattern discovered by Bryce Gilmore using his Wave trader software program.
The pattern structure was further refined using specific Fibonacci levels by Scott Carney which he outlined in his book 'The Harmonic Trader', published in 1998.
The Butterfly pattern must include an AB=CD pattern to be a valid signal. In general, the AB=CD Pattern will possess an extended CD leg that is 127.2% or 161.8% of the AB leg.
As mentioned in the Alternate Bat pattern Idea, (linked below) this Butterfly pattern has formed within the target zone of the Alt Bat.
TP2:
TP3:
Bearish Head & Shoulders Pattern (1H)There are many interpretations of the Head & Shoulders Pattern.
After much research and back testing I have created a simple process using bespoke levels to objectively identify and trade the pattern.
Through extensive research into Harmonic patterns (in particular the Butterfly ) I have discovered how to accurately predict where the H&S pattern will occur.
The Butterfly Pattern Forms the structure of most H&S patterns.
Bearish Head & Shoulders Pattern (Daily)There are many interpretations of the Head & Shoulders Pattern.
After much research and back testing I have created a simple process using bespoke levels to objectively identify and trade the pattern.
Through extensive research into Harmonic patterns (in particular the Butterfly) I have discovered how to accurately predict where the H&S pattern will occur.
The Butterfly Pattern Forms the structure of most H&S patterns.
The left shoulder forms the XA leg of the butterfly.
The CD leg then forms the Head with the D point entry creating the peak.
The Butterfly Target points then form the remaining structure.
Once the Butterfly has completed and reached TP3 (127.2% of AD) the H&S can then be traded.
Drawing the fib tool (with my bespoke levels as displayed) from the close of the candle forming the left shoulder valley to the top of the highest wick of the Head.
The first entry is at 50% with the stop at 0% and TP1 at 150%.
The second entry is at 100% with the stop at 50% and TP1 at 200%. This entry should be entered on the retest of 100% after the candle close below it.
EUR/USD DAILY PICTURELook for times to accumulate on lower timeframe, as the big picture is continued uptrend.
Bullish Shark PatternENTRY = 1.18213
STOP = 1.18494
TARGET = 1.17646
The Shark Pattern was initially released in 2011 by Scott Carney in his Patterns into Profits course.
The pattern is the primary structure that precedes a 5-0 formation. This structure is outside the typical M and W framework. It possesses a unique formation called an Extreme Harmonic Impulse Wave that retests defined support/resistance while converging in the area of the 88.6% retracement – 113% extension of XC.
In all cases, the completion point must include the powerful 88.6% support/retracement as a minimum requirement. In addition, the unique extreme Harmonic Impulse Wave employs a minimum 161.8% extension of the BC leg.
This combination with the 88.6% retracement defines a unique structure that possesses two profound harmonic measures to define the minimum level. In many cases, the price action will retest the initial starting point of the pattern and define excellent opportunities to take advantage of a market that has moved to far too fast within a limited period of time.
This pattern frequently defines excellent opportunities but these reversals are often sharp and require specific management strategies to capitalize on the phenomenon. In many situations, the price action will retest the prior support/resistance level and typically result in a limited counter trend move.
Due to the Complexity of identifying The Shark pattern I have not and do not intend to publish a tutorial on this pattern. However should it be requested I will attempt to do so.
Due to the fact this pattern is in general considered a precursor to the 5-0 pattern, closing a minimum of 50% of the position at the initial target is advised
EU signalEU signal with limit Order. Easy setup with 5:1 RR. Manage risk if you do take this trade. Good luck everyone.
EURUSD Price movement prediction 15-10-2020Using the triple trap strategy, these are opportunities I see for this pair. Currently price is at top of the channel and been respecting the 4H trendline, buying opportunity- if price breaks through purple trendline and 50 SMA(need not wait for retest). Selling opportunity - if price breaks the 4H trendline and the zone and retests it.
the triple trap strategy is trapping price between a channel, SNR and a possible trendline opposite to channel. In this way we can predict the next movement of the price by seeing the price respecting either one of the traps( a channel, SNR and a possible trendline).
Bearish Crab Pattern (1H)The Crab is a precise Harmonic pattern that was discovered by Scott Carney in 2000.
The Crab is a distinct 5-point extension structure that utilizes a 161.8% projection of the XA leg exclusively. This is the most critical aspect of the pattern and the defining level in the Potential Reversal Zone (PRZ).
The extreme (261.8%, 314%, 361.8%) projection of the BC leg compliments the 161.8% extension of XA.
Due to the extremity of the projections utilized in the completion of the pattern, the Crab frequently experiences sharp price action and dramatic reversals.
It is common for price action to possess extreme ranges, quickly testing the Crab PRZ during the reversal. In fact, the price action experienced in Crab pattern completions is usually the most extreme of all of the patterns.
Despite the typically severe reversals, the focus of the pattern’s completion should examine the 161.8% projection of XA.
ENTRY = 1.18152
STOP = 1.18434
TP1 = 1.17696
eurusd short/long eurusd has created a bearish trendline and made a bearish engulfing. Looking for break of structure to retest and go low.
Price could also be supported as well so we'll have to see what happens tomorrow or whenever.
EURUSD Price movement prediction 12-10-2020Using the triple trap strategy, these are opportunities I see for this pair. In daily, EU broke the 50 SMA and we can see lower time frames above 50 too, so good opportunity for buys, waiting for retest to the golden zone for buys, we also have another confluence of harmonic pattern that it may retest to golden zone. if it breaks the green zone downside, and retest looking for sells.
the triple trap strategy is trapping price between a channel, SNR and a possible trendline opposite to channel. In this way we can predict the next movement of the price by seeing the price respecting either one of the traps( a channel, SNR and a possible trendline)
