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Extensions

Butterfly Pattern, EUR/AUD, 30minHere we see a butterfly pattern completed on the Eur Aud 30 min chart. We know that butterfly patterns often rally to the 1.618 extension of the BC leg, so that is where our limit is at. Our entry is at point B and our stop is at point D, giving us a 1.39 risk to reward. I believe the rally will take place over the next few hours. Thanks for checking us out, if you agree, please hit like and leave a comment, and always follow for more content that may help your trading. Thanks guys, and Good Trading!
Long
by Kylan_Laymance
1
Price Action (Elliot Wave Maybe?) GBP/JPY, 30minHere I see a price action trade along the linear regression line with standard deviation set at 2 and -2. I also believe this may be an Elliot wave cycle. If i remember correctly, the third wave, should be about the same length as the first wave, so i have placed my limit at the 1.618 extension of the second wave, just to be safe (remember, still learning price action). I have placed my stop at previous structure and my entry is at current price, with any luck, we should see some profit here in a few hours. Thanks for checking us out, any pointers would be greatly appreciated, just leave them in the comments. Don't forget to like if you agree with the trade, and follow if you want to see some more trading As always, Good trading! I
Long
by Kylan_Laymance
Cyhper Pattern, CAD/JPY, 30minHere we see a completed Cypher pattern on the Canada japan charts. The pattern suggest a continuation in downtrend and appears to be respecting the linear regression. I believe that the market will rally down into the 1.618 extension of the BC leg before consolidating again, or reversing. I have placed my entry at current market price, my stop is at the highest high of the pattern and my limit is at the 1.618 extension of the BC leg. Check back in to see the results, as always thanks for checking this out, please like comment and follow if you agree. Thanks and good trading!
Short
by Kylan_Laymance
1
GBPUSD: Part 2 The 2618This morning I posted a trade idea titled "3rd Times The Charm" In this idea I mentioned that i had previously taken 2 losers on this particular currency pair the day before and was ready to reload once again for another shot at getting short. Well that trade payed off as our double bottom/ Bat pattern (LTF) rolled over without much pain this morning and then even more so after this afternoons fundamental action. For those of you who took the trade congrats. For those who didn't the next opportunity to get short will come in the form of a 2618 setup. Here's a link to a FREE training that we did on the 2618 if you want to learn the strategy. www.youtube.com But essentially what we're looking for is the break and close below the initial double bottom (signifying a rotation in trend) followed by an outside return into the 61.8 or structure. typically targets are taken at the retest of the latest impulse leg and some sort of extension whether it be the 1.272, 1.618, ac=cb or just future structure.
Short
by Akil_Stokes
6