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PRZ

Potential EURJPY Short PositionThis is a potential EURJPY short idea. Third touch of descendent trend line, completing the final wave of the A,B,C,D,E Elliott's wave formation. We have a cross of trend lines, the support trend line hasn't been retested as resistance yet. We have a 61% fib level in a PRZ (Price Reversal Zone) which indicates a strong level. the fact that price is also on a whole figure being the 126.000 level gives us that final confirmation of final downward movement.
Short
by jameswright12
EUR/CAD: Bearish BUTTERFLY and BAT PATTERNS on the go.The Bearish Butterfly Pattern is already completed, but the price seems to hold an uptrend (take a look at the MACD Indicator!) In case when the Butterfly does not create any effect, we can wait for the completion of the Bearish Bat Pattern. In this case, I'm inclined to do the second thing because my Strategy does not let me trade any Butterfly Pattern. By the way, the effects of these two pattern are supported by the Yellow Areas, which are Resistance Areas that coincide with the completion of the Patterns. Let's wait, this is an interesting situation of non-structured chart, which is the most profitable situation for Harmonic Patterns! Cheers, Edoardo Enrico.
Short
by gt103454678
GBPUSD - Wait for 1'st Bearish Potential Reversal ZoneWait for 1'st Bearish Potential Reversal Zone or 2'nd Bearish Potential Reversal Zone . Pair / Instrument: GBPUSD Trade Period: Intraday Trading Time Frame: H1 The trend in the Timeframe: Bullish Trade Based On: The Bearish Gartley Pattern at 1'st Bearish Potential Reversal Zone or The Bearish Crab Pattern at 2'st Bearish Potential Reversal Zone. If 1'st Bearish Potential Reversal Zone Trade: Short The Area Of The Entry: 1.310 – 1.3135 Stop Loss: 1.3175 Target 1: 1.3017 Target 2: 1.2944 Target 3: 1.289 if it fails If 2'nd Bearish Potential Reversal Zone Trade: Short The Area Of The Entry: 1.326 – 1.332 Stop Loss: 1.3449 Target 1: 1.3131 Target 2: 1.3015 Target 3: 1.293
Short
by erbe
CHF/JPY Swing Trade - PRZ Potential 300+ pip trade!!With CHF/JPY coming near fresh yearly highs after such a strong multi week push, its do for a reversal at the 118-119 zone. For the pattern traders we can see CHF/JPY presenting a huge ascending triangle for bullish long term momentum, in the mean time im looking to go short in expectations of price going back into consolidation. . If you take the time to zoom in we can see Friday close offered us a hammer/pin bar candle! Next expected support as far as i see is around 115-115.50, which lines up with uptrend support and the 61.8 golden Fib Reversal zone. This coming week (2/5/18) I will be watching the H1-H4 time frames like a hawk for signs for fake out/reversal in the 118.50-119 area, stop loss 15-20 pips above 119. I will be posting an update on this chart when it comes time to take profit and go long. Always remember.. big swings=low lots! Happy Trading!
Short
by NJTradeHouse
GBPCHF - Right at the PRZ! Be Patient.Hey guys, keep an eye on GBPCHF. Price has fully tested the PRZ betwen 1.2592 to 1.2605 Pattern Identification Bearish Bat completes at 1.2605. Trade Execution Price has bounced away from the PRZ on the H4 chart. However, I note that the RSI OB zone has not been tested. I will be patient and wait for a final retest of the RSI before executing my shorts. It might spill over a little higher than 1.2605 and that is perfectly normal. If price just falls from current level, I will miss this trade. EP: 1.2605 SL: 1.2690 (85) TP1: 1.2460 (165) TP2: 1.2370 (235)
Short
by TerryHarmonicTrading
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