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EURUSD Bearish Bat PatternPotential Bat Pattern on the EURUSD with the finishing point at D, the 0.886 of the X to A move and a 1.618 extension of the A to B move. The area also lies on a strong previously tested price of support and resistance. On the lower 1 hour time frame we can also see strong RSI divergence taking place. Stops are going one ATR above previous structure, with targets set at a 0.382 retracement of the C to D move. The reason why stops are set here is because I want to follow a conservative approach in this trade. Price action has been setting higher highs indicating bullish bias, plus a 0.618 target would mean that price action would have to break below numerous support levels.
Short
by CarlosPM
Massive Bearish Bat PatternThere is a massive potential bearish bat pattern currently setting up on the EURUSD. Now this pattern is on the Daily Time Frame, so make sure to check your risk. If you use a 1 ATR Stop, you will have 200 pips of risk. If you can handle the risk though, this is a very nice potential opportunity. This will complete at 1.11896 with minimum stops above X at 1.12989. Target 1 will be at the 38.2 Fibonacci retracement level (1.08651) and target 2 at the 61.8 retracement level (1.06646). As always, follow your plan. Good luck and good trading.
Short
by tommyb35
Pro Trader Course Giveaway!Any trader interested in getting my complete Pro Trader Course for FREE, head over to my website and click on the "Join Now" button in the lower left. You will receive an email with an offer code that will give you 100% off the Pro Trader Course. Its completely free, no tricks or gimmicks. But its limited to the first 20 traders that sign up. The offer begins at 7am US Pacific time. Here is the link to my website. Good luck and good trading. www.bctradingsystems.com
by tommyb35
3 Potential Patterns, One PairAs I am getting ready for my live trading room, I came across these patterns on USDJPY. You got three potential patterns setting up on USDJPY. 1st, you have a potential bearish cypher pattern that will complete at 115.284. 2nd, you have a potential bullish cypher that will complete at 114.631. Finally you have a bigger potential bat pattern that will complete at 113.781. If you would like to join me in the live trading room, here is the link: youtu.be Good luck and Good trading
by tommyb35
1
Two Potential Cyphers On EURUSDThere are two potential Cypher patterns setting up on EURUSD. There is a shorter term Bearish Cypher (Red) that will potentially complete @ 1.05806. Now this one can be used as an alternate entry for a trend continuation trade. Now the Longer term Cypher (Blue) will potentially complete @ 1.06208. This one can be traded normally, (taking targets 1 and 2 at the 38.2 & 61.8 Fibonacci Retracements) or you can use this as an alternate entry as well. Either way, make sure to follow your plan. If you would like to see more analysis like this, come by and join us in the live trading room. Here is the link: youtu.be Good luck and Good Trading.
Short
by tommyb35
Bracketing The EURJPYAs I was getting ready for my live trading room I found this day trading setup. You got two potential patterns setting up here on EURJPY. You have a bullish bat pattern that will complete at 120.150 and a bearish gartley that will complete at 120.800. The nice thing is that you can bracket the market, set your entries, stops and targets and then wait to get filled. As always, follow your trade plan. If your would like to join me in the live room, here is the link. youtu.be
by tommyb35
Massive Butterfly Pattern On The GBPUSDThere is a massive potential butterfly pattern that is setting up on GBPUSD. Now I don't normally trade butterfly patterns since the completion point is beyond X. But since there is some structure to the left, I will use this in my technical scoring system and look for an alternate entry. I put out a video breaking this setup down along with another on EURJPY. If you would like to see the video here is the link: youtu.be Good Luck and Good Trading
Long
by tommyb35
Why Gold And Silver Could Be Supported In 2017 And BeyondFirst of all, in a technical perspective we shouldn’t deny that Gold and Silver are in an intact long trend with higher highs and higher lows from the last significant low of 12/15/16, where the market bottomed at around 1123 US$/OZ in gold and 12/23/16 at around 15.64 US$/OZ in silver. From their gold rallied about 12.52% to 1263.14 and is now currently pulling back from recent levels. Same with silver. Silver rally about 18.44% to 18.48. Which is +5.93% more than gold up move, which is quite impressive. Both are in a long trend but the question is now how substantial these moves are. Well, this question is hard to answer. Having a look on this chart above, which show’s us the gold to silver ratio, which is simply gold divided by silver. But what does this chart tells us, or even better what is the definition of this ratio firstly? Well, the gold to silver ratio says how many silver ounces it takes to buy one ounce of gold. Which basically tells us how many ounces of silver we need to purchase one ounce of gold. Before we get into details, here is first a short example. Currently, the Gold to Silver ratio is approx. at 69.34. Which tells us simply that we need 69.34 ounces of silver to purchase 1 ounce of gold. Not that hard right :-)?! But why do I need this information now, you might ask yourself? Well, the easiest answer for that is, it could signal us potential big moves in those particular precious metals. The gold to silver ratio is negative correlated to gold and silver. For this general purpose, we will simply say that when the gold to silver ratio rally gold and silver will fall. Obviously, the gold to silver ratio is highly volatile and fluctuates widely, that you can’t just buy or sell accordingly to the ratio. But what you can do is you can potentially forecast big weekly moves. The 18 years’ gold to silver average ratio is approx. 61.75 whereas the all-time average is currently around 56.19. Either way, which number you take, you see that the current ratio is way too overvalued. This is one of many fundamental perspectives on how to look at it. But why do we think that Silver could be gaining on a percentage basis more than gold? Well, have a look at the current correlation of gold and silver above. Silver has a constant negative correlation to the gold ro silver ratio whereas gold has a shallow negative correlation. This is also one of many indications, that why we think that silver will be more supported than gold throughout 2017 and way beyond 2017. Don’t get us wrong, gold will be also supported but the more interesting metal will be silver, due to the higher and constant correlation to the gold-silver ratio. --> See Comment section for continuation of the article. Hope this helps. Wish you a relaxed weekend.
TVC:GOLDLong
by secrets2trade
Bullish Bat Pattern on EURJPY!We have a potential Bullish Bat pattern Currently setting up right now on EURJPY. The pattern will potentially complete @ 119.55. Minimum stops need to be below X at 119.321 with Target 1 at 120.215 and Target 2 at 120.636. Right now at the time of publishing this, the pattern is less than 20 pips away from completing. So if you trade Bat Patterns on EURJPY, you'll want to get those orders in. As always, make sure you follow your plan. I also just put out a video this morning of a live Day Trade on USDJPY where I used a Cypher pattern to enter into a trend continuation style trade. If you would like to see that, here is the link: youtu.be Good luck and Good Trading.
Long
by tommyb35
Backeting USDCAD w/Advanced PatternsAs I am getting ready for my live trading room on you tube, I came across these setups on USDCAD. This is probably my favorite thing about advance patterns, and that is; bracketing the market. The bearish cypher will potentially complete @ 1.3190 and the bullish bat will potentially complete @ 1.3090. Now if you trade advanced patterns, you can set your buy and sell orders along with your stops and targets and wait for one to get triggered. Awesome setup here and definitely one I will be keeping an eye on. IF you would like to join us in the trading room, here is the link: www.youtube.com If not, Good Luck and Good Trading!
by tommyb35
Bullish Butterfly At Major Structure on USDCAD!As I am getting ready for my live trading room, I came across this very nice butterfly pattern that will complete at this major structure level. Now I normally don't trade butterflies, due to the fact that they complete below X, and this is where i place stops on the other advanced patterns I trade. But when I get a setup like this, well now I have a structure zone to place my stops under. This pattern will potentially complete @ 1.3021, which is right at the lows of this major structure zone. Minimum stops should be below the structure zone, and even if you want to put your stops below 1.30000, you will still have an excellent risk/reward ratio for both target 1 and target 2. As always, follow your trading plan. If you would like to join me in the live trading room, here is the link: www.youtube.com Good Luck and Good Trading!
Long
by tommyb35
How to use Advanced Patterns in Technical ScoringI just put out a video breaking down the GBPUSD. On the chart here we have a massive Potential Cypher Pattern. Now although I trade Cyphers, I cannot enter into any trade with more than 100 pips of risk per my trading plan. So instead I am going to use the Cypher pattern as part of my overall technical scoring system. Now along with the Cypher you also have a potential AB=CD pattern, Structure and Fibonacci confluence rounding out our potential reversal zone. If you would like to see how I did this, here is the link to the video: youtu.be Otherwise you can just keep an eye on this potential reversal zone and we'll see what happens. Either way, Good luck and Good Trading.
Short
by tommyb35
Massive Bearish Bat Pattern EURUSD!I put out a video breaking down this massive potential Bat pattern that is potentially setting up on EURUSD. This Bat pattern will potentially complete at 1.08126. Minimum stops need to be above X at 1.08734 with potential target 1 at 1.06370 and target 2 at 1.05255. Now the really nice thing about this pattern in particular is where it will potentially complete. Not only does it offer an excellent Reward/Risk ratio, but it also lines up with a major structure zone outlined by the red box on the chart. If you scroll back and look, you will see that this level between 1.08000 and 1.0875 has been tested as support and resistance numerous times. So whether you are an advanced pattern trader or a technical scoring system trader, this is definitely a setup to keep your eyes on this week. Here is the link to the video: youtu.be Good luck and Good trading!
Short
by tommyb35
Bearish Cypher Ahead of ECB Rate DecisionRight now i'm getting ready for my live trading room stream, and I came across this bearish cypher pattern here on EURJPY. This will potential complete @ 122.531. Minimum stops need to be above the X-Leg. Here on the chart I have my stops at a 1.130 fib inversion of the X to A leg. Target 1 will be at the 38.2 fib retracement and target 2 will be at the 61.8 fib retracement. If you would like to join me for the live stream, here is the link: www.youtube.com Good Luck and Good Trading!
Short
by tommyb35