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Harmonicmoves

NZDUSD | Perspective for the new week | Follow-upWith approximately 300pips move in our direction since my last publication on this pair (see link below for reference purposes); It appears we are at a juncture for a trading opportunity in the market as I suspect a risk of further decline for the Kiwi as Breakdown/Retest of Neckline which is also my Key level @ $0.71500 becomes imminent. The US Bureau of Labor Statistics reported on Friday that Nonfarm Payrolls rose by 559,000 in May and despite figures reported to be below expectations, the Greenback appears to be on the verge of soaring in the nearest future. Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Harmonic pattern (AB = CD) Observation: i. The $0.7300 area appears to be a very strong supplication area since the beginning of the year 2021 as an attempt from buyers to break above this level in February was followed by an emphatic bearish run that lasted a whole month! ii. It is also obvious that the $0.73000 level became a stalling zone (approximately 61.8% retracement of AB leg) for the correction of the Impulse leg AB as it was met with multiple rejections hereby emphasizing the strength of sellers at this juncture. iii. In this regard, I shall look forward to a transition into an ABCD pattern with parameters explained below; a. Impulse A-to-B is expected to be in harmony with the potential C-to-D leg. b. The B- to-C leg is currently at 61.8% Fibonacci retracement (with the possibility of a 78.6%) of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext . of the A-to-B move @ $0.67500. iv. The Breakdown of $0.71000 (Demand zone) in March 2021 reveals that sellers are beginning to creep in at this level for future investment in the Greenback. v. This critical observation led to the identification of a New Supply level of around $0.72000/0.71500 for a future selling opportunity. vi. Conscious trading shall anticipate a Breakdown/Retest of Key level @ $0.71500 in the coming week for confirmation. Trading plan: SELL confirmation with a minimum potential profit of 300 pips. Risk/Reward : 1:5 Potential Duration: 5 to 10days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
NZDCAD | Perspective for the new weekThe dailly chart (see below) suggest that the Bears continue to take control of the prevailing direction of price action despite the 100pips Bullish run during last week trading session; I noticed that price has been caught within a Descending Channel since the beginning of the month with structures that support the tendency of respecting this Channel and even breaking it further down in the nearest future. Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand | Trendline | Channel | Harmonic (AB=CD) Observation: i. TRENDLINE: The line drawn over pivot highs (indicated on the chart as Pivot I, II & III) appears to be a visual representation detailing the prevailing direction of price action over a period of 2 weeks. ii. The handing over of the baton from Buyers to Sellers on the 12th of May 2021 is represented on the chart with a successful Breakdown of Demand zone which held price "supported" for 11days. iii. It is observed that last week session was characterized with emphatic Bearish and Bullish run (a correction of AB leg). iv. If we also look closely, a Breakdown of Descending Channel @ CA$0.87000 last week appears to be a clue that participants are anticipating the risk of further decline for the Kiwi. v. In this regard, I predict an ABCD pattern transition with expected parameters explained below; a. Leg A-to-B appears to be in harmony with the C-to-D leg. b. The B- to-C leg falls within 61.8/78.6% Fibonacci retracement of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext of the A-to-B move @ CA$0.86000 area. vi. For me, Below the Key level @ CA$0.87750 shall be a yardstick for sell confirmation in the coming week as price action is been monitored... Trade consciously! :) Trading plan: SELL confirmation with a minimum potential profit of 180 pips. Risk/Reward : 1:6 Potential Duration: 2 to 6 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
USDCHF | Perspective for the new week | Follow-upPrice has moved over 100pips in our direction since my last publication on this pair (see link below for reference purposes) and I am looking forward to a further dip to complete correction of the Breakout that happened on the 24th Feb 2021 to join the rally in the coming week(s). Following the Swiss National Bank (SNB) Chairman Thomas Jordan perspective that it shall continue to adopt a negative interest rate approach appears to pose a negative effect on the Swiss franc as the risk of further decline remain imminent even though it remains highly valued. Tendency: Uptrend ( Bullish ) Structure: Breakout | Supply & Demand | Harmonic pattern (AB = CD) Observation: i. Following the neckline Breakout, the price hit a peak of Fr0.94750 - a level that was immediately met with rejection as it rolled back down with a possible motive of making a Correction of the last Breakout (AB leg). ii. In this regard, I shall be looking forward to transposition into an AB = CD pattern with parameters explained below; a. Leg A-to-B is expected to be in harmony with the potential C-to-D leg. b. The B- to-C leg is expected to test 61.8% - Fr0.905000 (with the possibility of retracing into 78.6% - Fr0.89000 in the future) Fibonacci retracement of the A-to-B leg. c. The C-to-D leg is expected to extend within 127.2 - 1.414% Fib. ext. of the A-to-B move @ FR0.975000 area. iii. I must emphasize here that completion of retracement (BC leg) is what we are waiting for to join the rally and it is very possible that completion might be at the Demand zone which is around Fr0.890000/0.905000 before the rally begins. iv. However, should price decide not to retrace that dip, then a close above Key level @ Fr0.915000 shall be a yardstick for buying opportunity in the coming week... trade consciously :)! Trading plan: BUY confirmation with a minimum potential profit of 500 pips. Risk/Reward : 1:8 Potential Duration: 20 to 30days NB: his is a long term speculation and may be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
GBPUSD The Cable here on the cable we have a bearish Gartley Pattern. We currently have price kissing the 786 at the moment. what were looking for si some consolidation some confirmation on the oscillators and another good move down. This will be my second entry on the cable as i am currently short off a daily pattern. for the past two weeks we have seen the cable retrace up after the strong move down. I will be looking for an entry on the 1h. Sorry for not going into it any deeper i am behind on some school work and I am also getting back into the 4H time frame trading gonna slowly get down to the 1H again. I am also in the process in making a few courses as well that covers harmonic trading along with a myriad of other topics. When the courses go live i will upgrade my TradingView package to Premium and advertise them on my TradingView.
Short
by ARegularGuy
6
EURAUD | Perspective for the new week | Follow-upThe gains accumulated by the Euro remains limited as structure suggest that investors are hesitant to buy the Euro amidst concerns that the Eurozone is in for more coronavirus restrictions in the nearest future. We had no execution on our last publications as price went the opposite direction with a significant Breakout of the Channel @ AU$1.54500 area ( see link below for reference purposes). Despite the fact that I am yet to disregard my previous speculation, there is a possibility that price might continue to the upside as we experience what looked like a retest/rejection of the Channel @ AU$1.54000 area after the Breakout last week. Tendency: Uptrend ( Bullish ) Structure: Breakout | Supply & Demand | Harmonic pattern (AB = CD) | Channel Observation: i. By connecting the lower highs and lower lows of price action with parallel trendlines, it is obvious that price has been on a downward trend caught within a Descending Channel since early November 2020 until a final Breakout happened during last week trading session. ii. Demand zone (AU$1.52500/1.53500) has held price "Supported" in the last 39 days with clues detailing the weakness of Sellers at this area as buying pressure increases and price finds it difficult to continue respecting the Channel. iii. The Impulse leg (AB) that began with a Hammer candle leading into the Breakout of the Channel @ AU$1.54500 followed immediately by a rejection/retest of the Channel @ AU$1.53500 (point C) signals a rally continuation that might transpose into an AB = CD pattern with parameters explained below; a. Leg A-to-B is expected to be in harmony with the potential C-to-D leg. b. The B- to-C leg pegged a 78.6% Fibonacci retracement of the A-to-B leg @ AU$1.53500. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext. of the A-to-B move @ around AU$1.58500 area. iii. My yardstick to join the rally shall be above Key levels with Breakout/Retest expectations of my Key level and Bearish Trendline remains @ AU$1.54600 & AU$1.55500 respectively. iv. This been said, Should price dip into AU$1.53600 in the coming week the possibility of price respecting the Channel becomes feasible hence reverting to my previous publication becomes necessary (see link below)... trade consciously :)! Trading plan: BUY confirmation with a minimum potential profit of 300 pips. Risk/Reward : 1:3.5 Potential Duration: 3 to 7 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
GBPUSD | Perspective for the new week | Follow-upThe greenback appears to be building on structures supporting a rally in the coming week(s) as the Nonfarm Payrolls report draws near. The price travelled in the opposite direction since my last publication as $1.40000 remains a strong Supplication level ( see link below for reference purposes). A sharp rejection of $1.4000 followed by a significant Breakdown of $1.38300 (key level) during last week trading session send signals of a risk of further decline for the Pound in the coming week(s). Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand | Harmonic patter (AB = CD) | Descending Channel Observation: i. Connecting the lower highs and lower lows of price with parallel trendlines emphasizes that price action has been caught within a Descending Channel since February 2021. ii. The Demand zone @ $1.38300 that held price "supported" during the penultimate week was finally broken during last week trading session with momentum favouring the Bears. iii. The present structure after breakdown supports a transition into a Harmonic pattern (AB = CD) with parameters explained below; a. Leg A-to-B shall be expected to be in harmony with the C-to-D leg. b. The B- to-C leg present falls within 61.8% (with the possibility of extending into 78.6%) Fibonacci retracement of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext. of the A-to-B move @ $1.35500 area. iv. This been said, It possible that price might not break above key level to continue the decline hence it is pertinent that we keep an eye on price action around $1.38300 in the coming week(s):) Trading plan: SELL confirmation with a minimum potential profit of 300 pips. Risk/Reward : 1:3.5 Potential Duration: 4 to 10days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
1
EURAUD | Perspective for the new weekThe first observation on this chart is the Descending channel drawn by connecting the lower highs and lower lows of price action with parallel trendlines emphasize the prevailing trend that began in October 2020... It appears the price is willing to respect this channel in the coming week as a Breakdown of AU$1.545000 level followed by rejection is a clue supporting a Bearish bias. Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand | Harmonic pattern (AB = CD) | Descending Channel Observation: i. In the last 21days, the AU$1.54500 level has been a major determinant of the direction of price action. ii. A breakdown of AU$1.54500 on the 10th of March 2021 followed by a continuous rejection of this level in the last 9 days is a clue that structure might transpose into a harmonic (AB = CD) pattern (see parameters below) in the coming week(s). a. Leg A-to-B is expected to be in harmony with the potential C-to-D leg. b. The B- to-C leg makes a 61.8% Fibonacci retracement of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext. of the A-to-B move @ AU$1.50000 area. iii. In the coming week, I shall make the level @ AU$1.54500 a yardstick for downtrend continuation. iv. Pleased note that a significant Breakout of the Channel shall render this setup invalid. Trading plan: SELL confirmation with a minimum potential profit of 400pips. Risk/Reward : 1:4 Potential Duration: 7 to 15 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
4
NZDUSD | Perspective for the new week | Follow-upPrice continues to play out in accordance with expectations as it moved over 300pips in our direction since my last publication (see link below for reference purposes). As the majority foretell a risk of further decline in the Kiwi in the coming week(s), I beg to take the opposite direction and maintain a Bullish bias on this pair. Tendency: Uptrend ( Bullish ) Structure: Breakout | Supply & Demand | Harmonic (AB = CD) pattern Observation: i. In the last 13 weeks, Buyers have found a niche around NZ$0.71000/0.70500 hereby making this area a strong Demand level. ii. We have experienced a sharp decline in price in the last two weeks after the Kiwi hit a peak of NZ$0.74650 in late Feb. 2021. iii. At this juncture in the market, it is impossible to ignore the pattern the decline has formed on its way down to the Demand zone - a Harmonic (AB = CD) structure. iv. ABCD pattern with parameters explained below; a. Leg A-to-B appears to be in harmony with the C-to-D leg. b. The B- to-C leg falls at 38.2% Fibonacci retracement of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext. of the A-to-B move @ NZ$0.71000/0.70500 area. iv. Considering the stronghold of NZ$0.71000/0.70500 area by buyers in the past, the AB = CD pattern makes a "good" reversal set-up at this juncture in the market as I anticipate a Breakout/Retest of my Key level @ NZ$0.71850 to join the rally (any area above Demand area is good for me). v. If the price moves as expected and reaches the Supply zone, It is advisable to lock in profit to avoid getting caught up with selling pressure and note that a further Breakout of NZ$0.73000 might confirm a rally continuation. Trading plan: BUY confirmation with a minimum potential profit of 150 pips. Risk/Reward : 1:3 Potential Duration: 4 to 10days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry