Harmoincs
USDJPY trend continuationHere on the 1 hr chart on the USDJPY we have a possible shorting opportunity for a trend continuation trade using the combined technical score trade. I know that the rate decision comes out tomorrow and will probably destroy all of this technical analysis but in my trading i try my best to only focus on technical analysis and not the fundamental side of the market because during my backtesting i did not know when the rate decision came out but it is something that anyone trading this week needs to be aware of. Make sure to double check your stops and targets on all your trades and good luck!
Check me out on youtube to see how i analyze the market and a few tutorials on advanced pattern strategies and structure based strategies!
LINK: www.youtube.com
THANKS again and best of luck in these thin holiday markets!!
Breaking down the EURUSD 15minAfter the Major spike in EURUSD last week, it's starting to pullback in a Bull Flag fashion. This usually means a breakout in the direction of current Momentum, in this case Bullish. Price is also working on completing an ABCD Pattern on the 30 min Chart. Zooming in on a Lower Time Frame (LTF) I can see that it's in a small Balance Area. I will look to be trading the Balance Area Breakout in either direction.
Entry - Break & Close out of Balance Area
Stops - 1 ATR Above/Below the Breakout Bar
Target #1 - Measured Move of the Balance Area
Target #2 - Either the 38.2% Retracement or the 1.618% Fib Extension, depends which way it goes (Targets are shown on the Chart).
Upside Scenario:
Given the Bull Flag we are carving out on the Higher Time Frame (HTF), I would have to assume that we will breakout of the Balance to the upside, BUT I have no idea for certain and I will NOT involve myself with this trade until I see the break and close out of the balance area per my rules. You can also adjust Target #2's to the upper side of the Bull Flag Trendline OR you can hold to your 2nd half of your position in anticipation that we Breakout of the HTF Bull Flag. This play would be less of a probability, however, the Reward would be excellent. Trade Target #2's however your rules in your plan tell you to trade so you are not trading off emotion.
Downside Scenario:
I think the downside Breakdown is less likely to happen given the context of the market and where we are, BUT you never know! If we breakdown, Target #1's line up nicely with an ABCD Pattern on the 30min Chart and also a 1.27 fib ext (not shown on chart, trying to keep the chart clean ;)). Target #2's will be the 1.618 ext which also lines up very nicely with another smaller ABCD Pattern.
Euro to Overtake the Dollar Once Again, Eur/Usd, 1 dayA solid Gartley pattern to be completed with a lucky drop in value by the euro hopefully early this week.
I have my entry placed on the point D , my stop placed at structure just below point X , in case the market decides to retest X . and Finally i have my limit placed at the 1.618 extension of the BC leg.
Bat Pattern, Eur/Aud, 1 hrHere we have a completed Gartley pattern in the positive deviation area of the last 100 and 200 moves.
According to my strategy , this market is likely to reverse down into the negative regression. As of right now, the market is retesting the high at point D and we should see a trade completion in the next couple of hours.
Anyone that has been following my trades knows that last week I had a very bad week and I am making a minor change to my strategy for the week , until we recover from our losses, i was previously trading all harmonics to the 1.618 extension of the BC leg, but as of this week , i will only be trading harmonics to the .618 extension , just for a guaranteed close for profit.
I have placed my trade actions as follows:
Limit: point X
Entry: point D
Limit: the .618 extension of the BC leg
Please like and comment if you agree or disagree respectively.
And always follow me for more updates on market analysis and harmonic patterns , and recently a lot of wave theory's.
And as always Good Trading Everyone!
Bat Pattern, Aud/Nzd , 1hrHere I found a bat pattern developed and completed in the negative deviation range of the AUD NZD chart. my strategy suggests that the market will rally up into positive deviation before correcting for trend continuation.
I have place my entry at point B to Verify reversal after point D
I have placed my Stop at point X for the break below close below bust
! have placed my limit at the 1.618 extension of the BC leg , for consistency and risk reward ratios
Gartley Pattern, Usd/Mxn, 15 minHere we have a very solid Gartley pattern form,ed and completed in both the negative deviation of the last 100 and 200 moves. Like with all harmonic patterns i have placed my entry and stops as follows :
Limit: 1.618 extension of BC , which meets at where both the 200 move regression and the 100 move positive deviation cross
Entry at point B
Stop at point X
please comment like and follow me for more updates and trades
Thanks and good trading
