Harmonicpatternspotential
Crude oil Short Term BearishThe idea here is about crude oil.
I am short term bearish on crude oil due to following observation.
1. Cypher harmonic pattern completed on daily chart.
The Cypher harmonic pattern is a technical analysis formation indicating a price-action reversal.
The Cypher pattern, which can be either bullish or bearish, has five points (X, A, B, C, and D) and four legs (XA, AB, BC, and CD). Like any other harmonic pattern, the theory behind the Cypher chart pattern is that there is a strong correlation between Fibonacci ratios and price movements.
The Cypher harmonic pattern has been historically proven to be a fairly reliable and accurate chart pattern. According to various studies, the pattern has an accuracy rate of around 70%.
2.Stochastic Oscillator
The intersection of two lines is considered to be a signal that a reversal may be in the works, as it indicates a large shift in momentum from day to day.
3.Bollinger Bands
20 day moving average, bands at 2 standard deviations
Looking at the lower band for profit target.
4.On-balance volume (OBV)
OBV shows crowd sentiment that can predict a bullish or bearish outcome.
OBV is on continuous decline.
Last but not least
5. MA 200 over 50 aka Death cross
02 September 2022.
The price was $95.23
Previous cross happened on
02 September 2020
MA 50 over 200 aka Golden cross
The price was $41.40
I am aware that it is little late for the analysis, but i feel there is more to come.
That's what they say "Something is better than nothing".
Looking forward...
The above is an Educational idea only and not any kind of financial or investment advice. So please do your own DD (Due Diligence) before any kind of investment.
Do leave your valuable feedback & comments for any improvisations.
DLFHello and welcome to this analysis
DLF has initiated a Bullish 5-O Harmonic Pattern in this pullback.
It could do in the short term 370-380 and 475 in the medium term as long as it does not break below 340
Bullish Harmonic 5-O patterns are spotted in pullbacks which make higher lows and thereby continuation of prevailing uptrend.
Happy Investing
BTCUSDT - Short Idea for the Next WeekHi all,
This is my first post so please take it easy on me! Here's a very rough idea of what I think may play out over the next few days. Share your thoughts and let me know if you have any ideas on how I can improve my TA/Harmonic usage!
I believe the recent bullishness in BTC is a fakeout/relief due to yesterday's drop. I'm looking to short BTC once we hit the 19400-19800 range and expect it to fall to the 17300 - 17900 area.
Good luck! Also, this is not financial advice, it's my first chart. lol.
Will AUDJPY be OVERSOLD?AUDJPY has been on a prolonged uptrend, I use the parallel channel to establish the current uptrend. Now it's a possibility price action may break the uptrend with a series of lower lows and lower highs, price action is also in an equilibrium state where it's possible the final hit may exceed the prior lows. It is not common for a retracement pattern to exceed a trend, so I expect to be wrong however, if the trend was to be broken, I have a significant turning point at the XA 88.6.
Bullish ab = cd AUDJPYFrom the failed Bullish Butterfly pattern, I've realised an undercover bullish ab = cd hiding within the pattern. Looking at the the higher time frame, I see the pair is sticking with the predominate uptrend with some minor corrections along the way. I've started to back test a new strategy that has taken the harmonic approach to a world of unprecedented accuracy and precision. Some only utilise this system, where others may use difference concepts, nobody is wrong and each is to their own to determine how accurate and precise they can be. But it is imperative to use a multitude of systems to give higher chance of probability and accuracy to take a position.
CHAMBAL FERTILIZERHello and welcome to this analysis
The stock is at the PRZ of a Bullish Harmonic Cypher formed in Weekly time frame.
A bounce/reversal till 340 to 375 is probable as long as it does not break 250.
Risk Reward for the trade is v good at 1:3
Harmonic Trading Patterns consolidate and then give strong follow through of trends. Since this is based on weekly time frame, trading it via derivatives could be risky as it will be a time consuming one with pullbacks and sideway along the path till its target, hence, cash based entry is advisable.
EURAUD Daily Potential Bullish TradeTRADE PLAN
EURAUD DAILY
Description
Price appears to have developed a 5-wave sequence in a form of Leading Diagonal. Then was followed by a 3-wave sequence in a form of ABC.
Apparently the correction ABC appears to have completed confirmed by a Pivot and Bullish Engulfing patterns.
It appears we are due for an aggressive Bullish C leg developing.
Disclaimer
Charts are educational, NOT investment recommendation
RelianceHello and welcome to this analysis on RELIANCE INDUSTRIES
On April 29, 2022 it completed the formation of a Bearish Harmonic Alt Shark Pattern indicating a reversal in the daily time frame.
Currently it has completed 50% of that retracement and formed a Bullish Harmonic Alt Shark in the Hourly time frame suggesting a probable bounce from here.
A pullback of this Bullish Harmonic Pattern could probably take it to 2600-2650. Pattern will remain valid till price is above 2435.
Harmonic Patterns are based on Patterns which come inline with specific ratios for reversal trade set ups.
GBP/CADX2 Position
1. Buy: GBP / CAD
Buy limit: 1.58900
SL @ 1.58500
TP @ 1.60900
Max Risk: 2%
2. Buy: GBP / AUD
Buy limit: 1.58450
SL @ 1.57830
TP @ 1.60900
Max Risk: 2%
(When calculating, do not forget about different spreads from Brokers)
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Have a good week to everyone
It is not an investment recommendation
BTCUSDTwe have to scenario
1 - start bullish impulse wave on 37400
2 - start bullish impulse wave on 28855
Scenario 1:
The position is designed to accept that the fourth wave is over, and the second wave runs the fifth major wave, and if the price is maintained between 37,500 and 38,800, the position is activated and moves to the next ascending micro 3 wave.
Scenario 2:
If the price commensurate with the balance of supply and demand gives the sellers power and falls below 34,400, we have a second uptrend scenario in which the price of the 28855 critical line market improves and the fourth wave ends.
We will expect a strong wave of upward motivation
APEUSDT SHORT TRADE PLANSHORT APE USDT.
CUT LOSS IS 1-2 PERCENT ABOVE C LEG.
C LEG IS CONFIRMED TO BE A REJECTION ZONE AS IT IS A FAIR VALUE GAP ZONE AND ALSO A RESISTANCE.
TRADE AT YOUR OWN RISK.
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AUTO/USDAlthough i hate how much of an under performer this asset has been and that it has only ever made lower highs and lower lows
Here you can see momentum is shifting after a textbook Bullish Butterly Harmonic PCZ at the 1.272 fib extension an Inverse Head and Shoulders pattern has matured.
Not something that i would personally long just because of the sheer underperformance of this asset overall but you cant say momentum isnt shifting here and the bottom could be in!
3 targets if you wanted to go long
1st = swing low from 21st july 2021 at $629 (29%)
2nd = swing high from 29th december 2021 at $799 (65%)
3rd = first level of historic resistance at $954 (95%)