Harmonctrading
Setup for bullish cypherSince the previous release of FOMC and good NFP report, it seems that gold could be, again, under pressure like it was in 2015.
So, until the FED's decision of interest rates (in december), and if economic data are pointing some recovering, prices should go lower.
I will activate this trade idea if price breaks the mid-term TL (see chart)
Cypher pattern with D point in $ 1090/1095 area.
Bat Pattern, "Harmonic Trading". Scott CarneyMr. Carney, Bat pattern in his book " Harmonic Trading".
Harmonic Patterns ratio and examplesHi,
Above, some harmonic patterns that i often look for (bullish ones)
These patterns, when identified, have a good risk/reward ratio. They allow traders to enter into the market with minimal risk. Obviously, you need some other confirmations before taking the trade on the pattern completion.
If the point D occurs with some divergence on classic oscillators (RSI / Macd, Sto), on a bottom (or top, if pattern is bearish) of a trendline / channel, previous support/resistance levels, supply/demand zone...then there are good probabilities to see price react on the completion of the pattern.
There are plenty of patterns, but this selection, from my side, is a good start for those who want to learn harmonic pattern.
Below some examples that have worked nicely (this don't work each time, this would be too easy ;)
Finding Opportunities in a MessThe GBPUSD market seems to be setting 3 different potential harmonic patterns within the same area.
1) In blue we have a Cypher Pattern
2) In yellow we see a Bat Pattern
3) In red we see a Gartley Pattern
In a perfect world, we´d be able to sell the Gartley all the way to the buying point of the Cypher for example. We can only dream :D.
I will update this post with further analysis, as the market continues moving.
AUDUSD Trend Continuation Trade (TCT) Bat Pattern for EntryAUDUSD has been in a heavy downtrend. Just keep selling the rallies.
I'm using the Bat Pattern for my Entry on this Trade. The Fib Inversion lines right up with Bat Entry. The Bat lines up with Structure on the 1hr Time Frame. I'm am going to assume that the RSI will be oversold once up there.
CTS score of 7. If we get any divergence on the RSI that will put us at a score of 8.
This trade will give us Massive Risk to Reward!
Best of Luck!
Audusd Bullish Gartley PatternWe have a bullish gartley pattern seen in Audusd. Price must not close above 0.9940 in order for the BC leg to be valid. Buyers can look to buy at 0.7835 should this pattern play out
