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Harmonicpattren

NZD/USD: Bearish Reversal Signal with Key ConfluencesThe NZD/USD pair is currently exhibiting signs of a potential bearish reversal, highlighted by the formation of a Bearish Butterfly Harmonic Pattern . This pattern, when combined with the key technical confluences identified, supports a strong bearish outlook for the pair in the short to medium term. Bearish Butterfly Harmonic Pattern: The Bearish Butterfly Harmonic Pattern has formed near a critical resistance zone, suggesting a potential price reversal. The confluence of this pattern with the 78.6% Fibonacci retracement level on the weekly chart further reinforces the bearish sentiment. The harmonic pattern's completion at this juncture is a significant indication that the upside momentum may be waning. Key Resistance and Trendline Confluence: Price has recently tested and rejected a key resistance level, which aligns with both the descending trendline and the 78.6% Fibonacci level on the weekly chart. This rejection adds credibility to the bearish bias, as it suggests that sellers are stepping in to defend this area. RSI Divergence on 4-hour time frame: An additional layer of confluence is provided by the RSI divergence observed on the 4-hour timeframe. The RSI has shown a bearish divergence, indicating weakening bullish momentum. This divergence often precedes a trend reversal, further supporting our bearish outlook for NZD/USD. Trade Plan: Given the confluence of these technical factors, the following trade setup is recommended: Entry: 0.61970 Stop Loss: 0.62400 Take Profit Targets TP-1: 0.61540 TP-2: 0.61110 TP-3: 0.60680 Risk Management: This trade setup offers a favorable risk-to-reward ratio, with tight risk management in place. The stop loss is placed just above the key resistance level to protect against potential false breakouts. Conclusion: The combination of the Bearish Butterfly Harmonic Pattern, key resistance rejection, trendline confluence, and RSI divergence points to a strong bearish case for NZD/USD. Traders should consider entering the trade at the specified levels, with a clear focus on the risk management strategy outlined above. Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Please conduct your own research and consult with a licensed financial advisor before making any trading decisions.
Short
by trading_jupiter
EURUSD Weekly Analysis & ForecastHi Traders! As we showed in our last analysis (see chart below), the pair had formed a Reversal Pattern on both daily chart and intraday chart confirming the bullish trend in play. That said, from a technical point of view we also have a bullish harmonic structure on weekly chart with a potential Target around 1.1065. If our analysis is correct, we should wait for some pullbacks before trying to take a long position, but we will talk about that during Monday's session. PREVIOUS ANALYSIS KEY FUNDAMENTALS POINTS The Federal Reserve held its benchmark overnight interest rate steady in the 5.25%-5.50% range at the conclusion of its July 30-31 policy meeting, but also signaled that rate cuts may begin as soon as the U.S. central bank's meeting in September. The decision will hinge on data between now and then. U.S. firms added an underwhelming 114,000 jobs in July, and revisions to the prior two months knocked 29,000 positions from the previously estimated number of payroll jobs. That pushed the three-month average total payroll growth down to 170,000, below the level typical before the COVID-19 pandemic. The unemployment rate also rose to 4.3%, which could heighten fears that the labor market is deteriorating and potentially making the economy vulnerable to a recession. The number of people in a job or looking for work grew. Government data in late July showed the slowing of the labor market is being driven by low hiring, rather than layoffs, with hires dropping to a four-year low in June. Average hourly wages rose 3.6% in July compared to a year ago, versus a 3.8% annual increase in June. The Fed generally considers wage growth in the range of 3.0%-3.5% as consistent with its 2% inflation target. In a sign of the job market's continued resilience, the level of job openings remained above 8 million in June, while the number of open jobs available for each unemployed person fell slightly to 1.2, remaining roughly where it was in the years before the pandemic. Fed Chair Jerome Powell has kept a close eye on the U.S. Labor Department's Job Openings and Labor Turnover Survey (JOLTS) for information on the imbalance between labor supply and demand, and the pandemic-era jump to more than 2 to 1 in the number of open jobs for each available worker was emblematic of the time. Things have cooled substantially. Other aspects of the survey, like the quits rate, now down to 2.1, have edged back to pre-pandemic levels in what Fed officials view as an emerging balance between the supply and demand for workers. While the hiring rate has slowed, for example, the layoff rate has remained stable in a sign of companies holding on to workers. The personal consumption expenditures price index, used by the Fed to set its 2% inflation target, shows inflation slowly subsiding. It fell in June to a 2.5% annual rate, from 2.6% in the prior month. Core PCE prices, stripped of volatile food and energy costs, remained unchanged in June at 2.6%. Despite that reading, the data looks set to help Fed officials build more confidence that inflation is moving toward the U.S. central bank's 2% target. On a month-to-month basis, the PCE index rose 0.1% while core PCE prices edged up 0.2%. Officials have begun to pay closer attention to signs of weakening demand in the economy as a precursor to a slowed pace of price increases. The separate consumer price index fell in June by 0.1%, with drops in both volatile energy items and core consumer goods like vehicles, and weakness in housing costs that Fed officials have long been waiting to see. The 0.2% rise in shelter prices was the slowest since August of 2021, and overall it was the weakest CPI print since May of 2020. The data pushed the annual rise in consumer prices down to 3% from 3.3% in the prior month, with the more volatile core index, excluding food and energy, falling to 3.3% from 3.4%. Thanks for watching
Long
by TheAnonymousBanker
16
Emerging Pattern: Is Gold a Short or Long Opportunity?Good day Traders, Trust your day is off to a great start. Here is my analysis of the gold market. 1. Pattern : emerging bullish butterfly with 1% tolerance. 2. Completion : The pattern is projected to attain completion at point D, which is approximately at 2334.638 on the chart, which is why we are considering short position. 3. PRZ Zone : The potential reversal zone in anticipation of a bullish reversal ranges from 2334.638 to 2261.280. This where we intend to close our short trades 4. Target Levels : The targeted levels are T1 at 2401.823, T2 at 2370.158, and T3 at 2335.314. 5. Entry : I am looking to confirm a break and close below 2452.511 price region downwards, with solid market resistance before entering the sell trade. Why wait for a break and close below 2452.511? The broken H1 supply zone could act as a demand zone thus pushing price upwards. 6. Invalidation : Should there be a break and a close above the H4 supply zone at 2483.74, this would invalidate the setup and the associated trade idea. Please note : Rising tensions in the Middle East can increase demand for gold (thus increasing its price further) as investors seek to protect their capital from potential market volatility. Cheers and happy trading!
OANDA:XAUUSDShort
by Samuel124
Bullish Bat Breakout: EURNZD Trade IdeaHello traders, I hope you're all doing well. Below is my analysis of the EURNZD pair and a detailed plan on how I intend to capitalize on this trading opportunity. 1. Pattern : Bullish Bat on EURNZD. 2. Completion : The pattern reaches completion at point D, which is approximately at 1.81178 on the chart. 3. PRZ Zone : The potential reversal zone for considering long positions, in anticipation of a bullish reversal, spans about 100 pips, ranging from 1.8185 to 1.80758. 4. Target Levels : Post-reversal, the targeted levels are T1 at 1.83131, T2 at 1.84192, T3 at 1.84952, and the extended target T4 at 1.86495. 5. Entry : I am looking to confirm a breakout above the 1.81849 price region upward, with solid market support for going long before entering the trade. 6. Invalidation : Should there be a break and a close below 1.80758, this would invalidate the pattern and the associated trade idea. This idea is potentially a 4RR trade idea if it goes as planned. I will appreciate your thoughts on this idea. Note: This is not a financial advice. Cheers and happy trading!
Long
by Samuel124
Bullish Butterfly and Bat Patterns on SPY (3H Timeframe)🔍 Overview: Exciting bullish setups on SPY with both Butterfly and Bat harmonic patterns on the 3-hour chart! 📈 These patterns are showing strong potential for an upward move. 📉 Chart Analysis: 1️⃣ The Butterfly and Bat patterns suggest potential bullish reversals, with support holding around the $533.47 level. 2️⃣ These double harmonic patterns provide strong bullish confirmation, making this setup particularly compelling. 📊 🎯 Trade Setup: Profit Target 1: $548.53 💰 Profit Target 2: $563.50 💸 Stop Loss: $533.47 🚨 📝 Why I'm Interested: The combination of these two harmonic patterns strengthens the bullish outlook. 📈 These patterns often signal high-probability reversals, providing a great opportunity for a long trade. The RVOL Average is supporting the creation of this patterns as well. 📅 Timeframe: Monitoring this setup on a 3-hour chart, which means keeping an eye on shorter-term price movements for optimal entry and exit points. ⏳ 🔔 Stay Updated: Keep watching the price action and adjust your strategy as necessary. Let's capitalize on this opportunity! 🤑🚀 #SPY #BullishButterfly #BullishBat #HarmonicPatterns #Trading #StockMarket #TechnicalAnalysis #TradeTalkFarsi 📈🚀
AMEX:SPYLong
by SIGNALIST_indicator
Anti Bat Bearish Harmonic Pattern on BABA🔍 Overview: I've identified an Anti Bat bearish harmonic pattern on BABA stock, and it's looking promising for a short trade on the 3-hour chart! 📉 📉 Chart Analysis: 1️⃣ The Anti Bat pattern suggests a potential downward move, with resistance around the $78.13 level. 2️⃣ If we hit $78.13, a Shark bearish pattern also begins, providing additional confirmation for the bearish sentiment. 📈 🎯 Trade Setup: Anti Bat Pattern: Target 1: $77.91 💰 Target 2: $73.73 💸 SL: $81.55 Shark Pattern (if $78.13 is hit): Target 1: $76.02 Target 2: $72.22 📝 Why I'm Interested: The combination of the Anti Bat and potential Shark patterns strengthens the bearish outlook. 📊📉 These patterns often signal high-probability reversals, and with the confirmation of the Shark pattern, this trade setup becomes even more compelling. 📅 Timeframe: Watching this setup on a 3-hour chart, so keep an eye on shorter-term price movements for the best entries and exits. ⏳ 🔔 Stay Updated: Be ready to adapt your strategy as the price action unfolds. Let's get it! 🤑💪🏻 #BABA #AntiBatPattern #SharkPattern #HarmonicPatterns #Trading #StockMarket #TechnicalAnalysis #TradeTalkFarsi 📉🐻
NYSE:BABAShort
by SIGNALIST_indicator
4
My super bearish triangles astrology tutorial This is so bearish price is going down omg, Gosh I don't know what Im' doing here a harmonic pattern description for you guys: In a bullish pattern, point B will pullback 0.382 to 0.618 of XA. BC will retrace 0.382 to 0.886 of AB. CD extends 2.618 to 3.618 of AB. Point D is a 1.618 extension of XA. Take longs near D, with a stop loss not far below. For the bearish pattern, enter a short near D, with a stop loss not far above. Fine-Tune Entries and Stop Losses Each pattern provides a potential reversal zone (PRZ), and not necessarily an exact price. This is because two different projections are forming point D. If all projected levels are within close proximity, the trader can enter a position at that area. If the projection zone is spread out, such as on longer-term charts where the levels may be 50 pips or more apart, look for some other confirmation of the price moving in the expected direction. This could be from an indicator, or simply watching price action. A stop loss can also be placed outside the furthest projection. This means the stop loss is unlikely to be reached unless the pattern invalidates itself by moving too far. The Bottom Line Harmonic trading is a precise and mathematical way to trade, but it requires patience, practice, and a lot of studies to master the patterns. The basic measurements are just the beginning. Movements that do not align with proper pattern measurements invalidate a pattern and can lead traders astray. The Gartley, butterfly, bat, and crab are the better-known patterns that traders watch for. Entries are made in the potential reversal zone when price confirmation indicates a reversal, and stop losses are placed just below a long entry or above a short entry, or alternatively outside the furthest projection of the pattern.
BITFINEX:BTCUSD
by Edward_Bowler
11/07/2024 - XAUUSD - Bearish Butterfly PatternAs of July 11th, 2024, XAU/USD (Gold) is forming a bearish butterfly pattern, indicating a potential downward movement. Here’s the trade plan: Trade Details: - Entry: Enter with SL above PRZ or on the breakout of the last HL - Stop Loss: Above PRZ Reason for Trade: The bearish butterfly pattern suggests a potential downward movement. Traders can enter with a stop loss above the Potential Reversal Zone (PRZ) or wait for a breakout of the last higher low (HL) to confirm the bearish trend. Traders should monitor the price action closely and adjust their positions accordingly to optimize potential profits and manage risks effectively.
OANDA:XAUUSDShort
by Unknown_Trader007
1