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Harmonicforex

InvestMate|CAD/JPY Will we go higher or is this already a peak?CAD/JPY Will we go higher or is this already a peak? 🍁Unemployment remaining low at 5.2%. 🍁Inflation slowly slowing The latest reading on 19 October indicated 6.9% which, compared to the peak of 8.1% recorded in June, offers a breath of optimism. 🍁Interest rates definitely higher than in the EU. At 3.25%. With the next rate hike due on 10 October, the market assumes it will be a 75 basis point hike to 4%. 🍁Trade balance at a high of C$1.52B in August. On 3 November we will find out how much it amounted to in September. Canada is now seeing very strong trade volumes. The highest in a decade. 🍁Manufacturing PMI low of 49.80 points. tradingeconomics.com 🍁The Consumer Confidence Index is falling but neither all-time highs nor a "crisis" state is just low at 48.51 points. tradingeconomics.com 🍁Will we see this reflected in the chart of these currencies? 🍁💴On the other side of the globe. 💴In Japan, no change. 💴Unemployment Rate low at 2.5% 💴Inflation low 3%. Japan is one of those countries that has not been hit by Inflation as much as Europe and the USA. 💴Interest rates at -0.1%. Still negative from 2016. Hence these falls in the Yen. When other countries raise rates causing their currencies to strengthen, their strength against the Yen increase. 💴For now, there are no increases on the horizon. The Bank of Japan says it has no intention of changing its monetary policy. 💴But the government doesn't want the Japanese Yen so cheap either, hence in recent days we have seen sharp falls which were interventions to stop the Yen weakening sharply against other currencies. 💴I don't think this will stop investors from pushing prices up again. 💴 Looking at the sytcajci of both currencies, I don't think anything has changed in the current trend over the months. The only threat could be unexpected monetary interventions to strengthen the Yen 📈Meanwhile on the chart. 📈On 21 October we made a double top and then after the intervention we went down into the support zone and there was a sharp overbought period. 📈Turning to the monthly chart, the first thing that catches our eye is a harmonic formation called gartley. 📈If the harmonic formation were to be fulfilled we can expect a rise to the range of the largest downward wave at the 0.786 level. 📈Assuming a stop below the post-intervention lows and a take profit at 0.786, this gives us a profit/risk range of 2.52. 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Long
by InvestMate
4
PRZ as Gartley and AB=CD pattern on EURUSDHello traders! I have spotted and interesting opportunity to sell intraday. There's a Gartley pattern in formation (and I believe it'll extend to 0.886) in which the CD leg also completes an AB=CD pattern on ratios 0.704:1.44. This is a medium high harmonic pattern. It's highly probable that it'll hit TP1 from my perspective. TP2 could happen, but TP3 could be so much to ask. This is a reversal, so stick with TP1 if enter this way or planning into go short with another strategy. Good luck in the markets and also wait for the price to completely the pattern. Normally Gartley pattern's entry is at 0.786, but the AB=CD is telling me that it could go further into 0.886 of the movement. Do you have any other ideas? Let me know in the comments.
Short
by pinoso
1
GBPUSD LongTime Frame: 4H Symbol: GBPUSD Entry: 1.12976 TP: 1.15905 SL: 1.10977 Bias: Long For the instruments related to FX pairs, our core focus is in dollar strength. As we see dollar is quite powerful for several months at a stretch. The tempo of dollar is never declining but the traders must be careful in dealing with mercurial price fluctuations all along the price trajectory. Our bias is solely dominated by short term momentum and price action for this pair and we anticipate a price move according to our projection.
Long
by NationForexSignals
GBPUSD ShortTime Frame: 4H Symbol: GBPUSD Entry: 1.11921 TP: 1.07841 SL: 1.14958 Bias: Short The movement pattern of price across all pairs is going through a phase of bearish attack. Because of upcoming depression as is predicted by IMF and World bank, the global financial crisis is looming around which will have direct impact in many markets including stock, currencies ,crude and other major verticals. Our projection here is based on recent price oscillations and short term impulsive opportunities.
Short
by NationForexSignals
1
xauusd#XAUUSD According to the analysis we gave to XAUUSS earlier, GOLD went up very fast by BREAKING the TREND LINE, due to which US10Y went down. We have some very important NEWS coming to USD this week. Among them, CPI DATA and FOMC MEETING are scheduled to be held today for USD. Be sure to keep an eye on it. So we have to wait a bit until we get them. Anyway, with US10Y DOWN, GOLD is going up a bit now. Anyway, we expect GOLD to go down to 1605 LEVEL. Before that, GOLD can definitely go up to 1707 LEVEL. Be careful..
OANDA:XAUUSD
by benny_marshall
Bat Harmonic Pattern - Made Easy For Everyone !The BAT pattern gets its name from the bat-shaped end product. Identified by Scott Carney in 2001, the BAT pattern is made up of precise elements that identify PRZs. The bat harmonic pattern follows different Fibonacci ratios. One of the major ways to differentiate it from a Cypher pattern is the B point which, if it doesn’t go above the 50 percent Fibonacci retracement of the XA leg then it is a bat, otherwise it can turn into a cypher structure. The market strategy of the pattern is suitable for all time frames and all markets types. Traders have to keep in mind that on lower time frames using the bat pattern market strategy has some challenges because the pattern tends to appear on less frequent on lower time frames. How to Draw a Bat Pattern : As mentioned earlier, the bat harmonic pattern looks very similar to the Gartley pattern . It has four different legs marked as X-A, A-B, B-C, and C-D. X-A: In its bullish version, the first leg appears when the price sharply increases from point X to point A. This is the longest leg of the pattern. A-B: The A-B leg then sees the price switching direction and retracing 38.2 to 50 percent using the Fibonacci retracement of the distance covered by the X-A leg. Have it in mind that the A-B leg can never retrace beyond point X. But if it does, the pattern is considered invalid. As you can see, if the price with a spike reaches a point under 50% but with the body above, this will be Valid. The candle Body's important. B-C: Here, the price changes direction for a second time and moves back up, retracing anything from 38.2 to 88.6 percent of the distance covered by the A-B leg. If it retraces up above the high of point A, the pattern is considered invalid.As you can see, if the price with a spike reaches a point above 88.6% but with the body is below, this will be Valid. The candle Body's important. C-D: This is the last and most significant aspect of the pattern. As with the Gartley pattern , this is where the bat harmonic pattern ends and traders place their long (buy) trade at point D. ( PRZ Potential Reversal Zone ) The 88.6% percent retracement of the X-A leg is our Entry Point. D POINT or PRZ Before trying and trading the pattern, confirm from this checklist that the pattern is real. It should include these vital elements: A-B : 38.2 to 50% max percent using the Fibonacci retracement B-C : An 38.2 to 88.6% max percent Fibonacci retracement of the X-A leg C-D : The 88.6% percent retracement of the X-A Market strategy: Step 1: Drawing the pattern Begin by clicking on the XABCD pattern indicator that is found on the right-hand side toolbar of Tradingview Identify the beginning point X, which can be any swing high or low point on the chart. You should get 4 points or 4 swings high/low points that join and form the harmonic bat pattern strategy as explained Above Step 2: Trading the pattern The 88.6 percent Fibonacci ratio provides traders a more reliable risk/reward ratio which is why the market strategy of the bat pattern is such a very popular as a market strategy. The best entry point is the 88.6 percent Fibonacci retracement which is a very accurate market turning point. It is recommended that traders should enter as soon as they touch the 88.6 percent figure. Oftentimes the harmonic bat pattern strategy doesn’t go much above this level. Step 3: Placing a stop-loss Usually, traders should place their protective stop-loss lower than the point X of a harmonic bat pattern . That is the only logical location to hide the stop-loss because any break below will automatically invalidate the pattern.We use as manual the 113% Fibo of X-A as a picture below. Step 4: Take-profits There can be several ways to manage your trades, but the best target for this pattern should be to use a multiple-take profit formula. For this pattern strategy, take the first partial profit once you hit wave-B level and the remaining half wave-C. Once the price reaches the first target you should move the Stop Loss at BE ( breakeven - entry point ) or close the position in profit. By doing this you will accomplish two things: first, you’ll ensure that you accumulate profits and secondly, if the markets reverse, you ensure you’re stopped at BE and don’t lose any money. There are many ways to calculate the Take profits Target, this is one of the most used and we suggest starting in this way. Identical rules to draw and set parameters like stop loss and take profits are for the Bearish version. Nothing changed. Please note this is an introduction to the BAT pattern , for beginners. I tried to make it more easy and simple as I can.
Education
by FOREXN1
24