Gbp returns homeI entered long to missed weekly pivot, aka virgin or ghost pivot (money value zone) - yearly VWAP (fair price, high liquidity area)
Once it hits that sweet line (usually to the pip, as creepy as it sounds) it will grab the liquidity and bounce back down.
Gbps, eur, cad pairs they almost never miss their weekly pivots...sooner or later they return for liquidity to those high value sweet spots which act like magnets.
This is no financial advise.
Missedpivot
GBPJPY Short: 5-0 Pattern to Missed PivotsHey Traders! GBPJPY has entered the potential reversal zone for point E on a 5-0 pattern. The short at the 0.500 fib retracement remains valid unless price drops lower than 1.345 without entering the short area. Any entry into the short area from these levels will warrant a short and the pattern will be triggered and active. SL is placed above point B with target at the lowest missed pivot, confluent with the missed weekly pivot from last week.
Happy Trading!
GM
USDJPY Long: Multichannel ReboundUSDJPY may potentially produce a reverse head and shoulders pattern at the base of two descending channels. Two weekly pivots sit above price and are confluent with important fib levels. If price does not met entry, the trade will be cancelled and I may start to consider short opportunities. If SL is hit, there may be a wolfe wave complete just beyond the base of the demand zone. Bearish price action past 105.5 would indicate short bias.
GM
USDJPY Long: Potential Expanding Triangle, Bat, Missed PivotsHey traders! USDJPY is approaching a potential reversal zone that could spark a large bullish move. A bullish bat is nearing completion near the descending trendline. Missed weekly and unhit weekly pivots sit above price. The .382 fib is also confluent with the missed pivot from last week which may signify a nice supply zone. Movement past the 1.272 mark could mean further bearish movement so that's where I put the SL. Targets at the nearest weekly pivot and the missed pivot from last week. Entry near point X of the bat should price reach those levels. This entry is also confluent with the short-term descending channel shown in gray.
NZDCAD Short: Wolfe Wave + Expanding Triangle at 50% RetraceAfter the RBNZ announcement cancelled the last NZDCAD short, a new opportunity has presented itself. A bearish WW has formed with the touch of the 2-4 parallel confluent with the 50% retracement level. We also have a potential E point of an expanding triangle complete which may mark a larger reversal from these levels. On the daily chart, the pair is contained within a bearish expanding triangle and this could present an opportunity to ride it down toward point E on the larger TF. The unhit pivot for June 2016 presents a nice target at which to take profit.
Bearish Confluence:
Bearish Wolfe Wave complete
Expanding triangle
50% retracement level
Descending expanding triangle on daily TF
Unhit June, 2016 pivot below price
Bearish RSI Divergence
RSI Overbought
Again, be mindful of news events. It is a good idea to wait until the Poloz speech at 11:15EST for entry as this may present significant CAD volatility. Happy trading to all!
AUDNZD Long: Breakout to Potential Bat CompletionAUDNZD has broken through the bullish channel center line and countertrend resistance. There is also a missed daily pivot above price which may add to bullish bias. Watch for resistance around the top of symmetrical triangle, BAMM line, and top of the rising channel. Entry is placed at the retest of the trendline with targets at bat point B and bat completion. SL is placed below structure lows for a R/R of 2.5 (T1) and 6.5 (T2).
Bullish Confluence:
Trendline breakout & retest
Missed daily pivot above price
Channel center line break
MITK Long: Bat Complete at 100 Day EMA SupportMITK has completed a bullish bat in a with a PRZ that is confluent with support from the 100 day exponential moving average. To add to bullish bias, 2 missed weekly pivots sit above price. Entry is placed at the bottom of the PRZ with target at the missed weekly pivot from 12/14.
Confluence in the PRZ:
Bullish bat
2AB=CD
2.272BC Projection
EMA100 Support
Bullish MACD Divergence
S/R Zone
Missed weekly pivots above price
Long GBPJPY: Bat + Crab Complete at Weekly Trendline SupportGBPJPY has entered the PRZ of two bullish patterns on the daily chart. The PRZ aligns with both horizontal and trendline support which may add to the potential for reversal at this level. Multiple unhit monthly and weekly pivots sit above price and may help pull price toward target. To add to bullish bias, MACD has produced bullish divergence and RSI is oversold. Entry is placed at crab completion with SL below horizontal support and targets at the unhit January, 2015 pivot and the 50% retracement of the bullish bat CD leg.
Bullish Confluence:
Bullish Bat
Bullish Crab
Weekly horizontal support
Weekly TL support
Multiple missed pivots above price
Bullish MACD divergence
RSI Oversold
Short EURUSD: Bat + S/R + Divergence + Overbought + Weekly PivotEURUSD is nearing the PRZ of a bearish bat in a significant area of S/R. MACD is also printing divergence in addition to RSI being overbought. A missed weekly pivot sits below price and is confluent with a larger .5 retracement. Entry is placed at the bottom of the PRZ with a SL above 1.13XA and targets at .618CD and the missed weekly pivot.
Confluence in the PRZ:
Bearish bat pattern completion
2.5AB=CD
2.618BC projection
S/R Zone
RSI Overbought
Bearish MACD Divergence
Missed weekly pivot below price
EURUSD Short: 3 Bats Align in Tight PRZ at TL ResistanceYesterday I published a EURUSD short on a bearish bat pattern. The bat has hit TP1 and is retesting the PRZ. If you missed the trade, this is a great opportunity to enter. A rare opportunity has presented itself where 3 bat patterns have aligned within a very tight reversal zone. The PRZ aligns with trendine touching the X points which may add resistance in this area. We also have very strong bearish RSI and MACD divergence with RSI being overbought as well. Target is placed at the bottom of the PRZ with SL at 1.13XA (yellow bat) and TP at the missed weekly pivot and .5 Fib level.
Confluence in the PRZ:
Bearish bat (240m)
Bearish bat (60m)
Bearish bat (15m)
Bearish MACD divergence
Bearish RSI Divergence
RSI Overbought
Missed weekly pivot below price
NZDUSD Short: Wolfe Wave to Complete BatNZDUSD has retested a BAMM line and in doing so has completed a bearish Wolfe Wave. Going short here would target the completion of the Bullish Bat which coincides with both a missed daily pivot and the EPA/ETA combination from the bearish Wolfe Wave. Market entry used with SL above structure highs and target at the completion of the bullish bat pattern.
Long EURUSD: Huge Gartley Complete at Support + Bat + ButterflyEURUSD has completed a large Gartley pattern on the weekly TF at a very important area of support. The support comes from a trendline dating back to the year 2000 which has been tested three times and has yet to be broken in the past 15 years. This is the second time price has tested the Gartley PRZ, proving it to be a key area of support as well. To add to the bullish bias, two confluent harmonic patterns have emerged on shorter time frames. These 4H harmonic patterns provide an excellent opportunity to enter the larger TF Gartley more precisely.
Possible Stop Loss and Targets:
T1: Unhit pivot for November, 2015 | .618CD (Bat & Butterfly) | R:R=3
T2: Missed pivot for January, 2015 | .382CD (Gartley) | R:R=9
T2: Missed pivot for September, 2014 | .618CD (Gartley) | R:R=15
SL: Below bat point X
Confluence in the PRZ:
Bullish Gartley pattern completion
Bullish bat pattern completion
Bullish butterfly pattern completion
6 missed monthly pivots above price
Strong trendline support
Weekly Chart:
Thank you for your continued support!
$AUDJPY Short: Wolfe, 2 Crabs, Pivots, Divergence, OverboughtAUDJPY has completed a bearish Wolfe Wave setup in the PRZ of two confluent bearish harmonic crabs. RSI is overbought and has printed bearish divergence. To add to bearish bias, two unhit pivots sit below price. SL is placed above the PRZ with target at .618CD (yellow crab).
Confluence in the PRZ:
Two bearish crab patterns complete
Bearish Wolfe wave setup
Unhit daily pivot below price
Missed daily pivot below price
RSI overbought
Bearish RSI divergence
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EURGBP Cypher, Wolfe Wave Complete at Support - Ending Diagonal?EURGBP has produced a bullish cypher pattern in addition to a number of other bullish signals. The PRZ of the cypher lies at a major support trendline (see chart below). A bullish Wolfe wave setup has been completed in the same area. Bullish RSI divergence is present and is also oversold at the PRZ. To add to the bullish bias, an unhit cluster of pivots sits above price. I've counted a 5 wave bearish impulse with a possible ending diagonal that could be followed by sharp bullish price action. Target is set at the unhit monthly pivot. SL is placed below trendline support.
Confluence in the PRZ:
Bullish cypher pattern completion
Bullish Wolfe wave pattern completion
Major trendline support
Unhit pivots above price
Possible ending diagonal
RSI oversold
Bullish RSI divergence
D1 Trendline Support:
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Long EURUSD: 1H Bat Complete in 4H Gartley PRZEURUSD has completed a bullish bat pattern inside of the PRZ of a larger TF bullish Garltey. Moving into the bat PRZ, RSI and MACD have printed bullish divergence. To add to the bullish bias, an unhit pivot cluster sits above price and coincides with .382 retracement of the Gartley CD leg. Targets are placed at .382 and .618 retracements of CD. SL is placed below Gartley point X and outside of the PRZ of a potential bullish crab pattern.
Confluence in the PRZ:
Bullish Gartley pattern completion
1.272BC (Gartley)
AB=CD pattern completion (Gartley)
Bullish bat pattern completion
2BC (bat)
1.618AB=CD (bat)
Unhit weekly pivot above price
Unhit monthly pivot above price
Bullish RSI divergence
Bullish MACD divergence
CADJPY Short: Gartley + Pitchfork + Wolfe Wave to PivotsCADJPY is nearing the completion of a bearish Gartley pattern. The Gartley PRZ is confluent with pitchfork support. A completed bearish Wolfe Wave adds to the bearish bias. RSI and MACD are showing bearish divergence moving into the PRZ. SL is placed above point X of the Gartley pattern and a cluster of pivots lies below price, providing a nice target.
Confluence in the PRZ:
Bearish Gartley pattern completion
1.272BC projection
AB=CD pattern completion
Pitchfork resistance
Bearish RSI divergence
Bearish MACD divergence
Unhit weekly and monthly pivot clustered below price
Bearish Wolfe Wave complete
Pitchfork Resistance (D1 TF):
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Long AUDCAD: Gartley + Shark at Channel SupportAUDCAD has completed bullish Gartley and bullish shark patterns at significant channel support. Two unhit daily pivots sit above price to add to bullish bias. Targets are placed at .382 and .618 retracements of CD.
Confluence in the PRZ:
Bullish Gartley pattern completion
1.272BC projection (Gartley)
AB=CD (Gartley)
Bullish shark pattern completion
1.618BC projection (shark)
4AB=CD (shark)
2 unhit daily pivots above price
Possible pitchfork support
Strong channel support at PRZ
Bullish Channel:
Note: ANZ Business Confidence released within an hour. I will not be entering AUD or NZD trades until news release.
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Long GBPAUD: 5 ReasonsGBPAUD has formed a tight PRZ where a series of bullish harmonic patterns have completed. There is also an unhit weekly pivot above price which may help drive price upward. SL is placed below .886XA with targets at .382CD and the unhit weekly pivot which coincides nicely with .618CD.
5 Reasons to Buy:
1. Bullish Gartley pattern completion
2. Bullish crab pattern completion
3. Bullish butterfly pattern completion
4. Bullish RSI Divergence
5. Unhit weekly pivot above price
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Long EURAUD: Butterfly Complete at Trendline SupportEURAUD has entered the PRZ of a bullish butterfly pattern. A strong trendline will provide support at the entry. A missed pivot cluster lies above price around .618CD which provides a target with a large R/R. SL is placed below S/R.
Confluence in the PRZ:
Bullish butterfly pattern completion
Long term trendline support
1.27AB=CD
1.618BC projection
Missed pivots cluster above price
Trendline Support:
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GBPAUD Short: 3 Patterns Confluent w/ WW and TL ResistanceGBPAUD has been rejected at the PRZ of 3 bearish patterns: Alt. Bat, and 2 Bearish Crabs. A bullish engulfing candle suggests continued downward PA in the short term, and trendline resistance in addition to missed pivots below price may help to drag price down long term. On the D1 chart, a potential head and shoulders pattern is emerging. Targets are placed at the unhit weekly pivot and the head and shoulders neckline.
Confluence in the PRZ:
Bearish alternate bat pattern completion
Bearish crab pattern completion (2X)
Unhit weekly pivot below price
Trendline resistance
Bearish engulfing 1Hr candle
Potential H&S pattern
Bearish Wolfe Wave
D1 H&S Pattern:
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SHORT GBPJPY: 6 ReasonsGBPJPY has completed a series of bearish patterns. Two bearish Wolfe Waves are entering a their sell zones. A bearish Gartley pattern makes for a good place to enter. The Gartley PRZ is confluent with trendline resistance. SL is placed above X/5/5 with target at the unhit weekly pivot.
Confluence in the PRZ:
1. Large bearish WW pattern potentially complete
2. Small bearish WW pattern potentially complete
3. Bearish Gartley pattern complete
4. Trendline resistance
5. .886AB=CD
6. Unhit weekly pivot below price
GARTLEY 15M
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Short GBPUSD: Bearish Crab + Pivot Cluster + Wolfe + S/R GBPUSD has formed a potential bearish crab which contains a PRZ that coincides precisely with an unhit pivot cluster and a potential Wolfe Wave target. As profits are taken at the pivots, price may have a tendency to reverse quickly and drastically. SL is placed above a significant support and resistance area. Profit is taken at the PRZ of a potential bullish butterfly pattern confluent with a Wolfe Wave buy zone. If trade is triggered and target is hit, I will look for PA reversal signs at the bullish butterfly/Wolfe wave PRZ.
Confluence in the PRZ:
1. Bearish crab pattern completion
2. 3.14BC projection
3. 2.5AB=CD completion
4. Unhit monthly pivot for October, 2015
5 Unhit weekly pivot
6. Significant S/R area
7. Potential WW target
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