AUDUSD - CLUSTER OF PATTERNS (SHORT)I have loved trading Aussie Recently , here is an example why , remember to keep your risk small and this will be a good trade win or loose
Scottcarney
BitCoin Harmonic PatternsAfter reviewing various intervals, I have found a number of distinct harmonic patterns that provide clear structural reactions. After last week's 3.14 reversal, the price has formed successive harmonic patterns - Bullish AB=CD@1880, Bearish Gartley @2240 and now a Bearish Bat @ 2280 on the retest. It looks like another bearish execution at these levels. The Bullish AB=CD @ 2050 IS the immediate harmonic support holding for now. However, the corresponding rally has resulted in two bearish harmonic formations. These immediate Gartley and Bat patterns are capping 2300 as upside resistance. In fact, the Gartley has a PERFECT AB=CD (0.618/1.618) @ 2310.
This is setting up for a nice a 3:1 to execute 2280-2290 PRZ, stop +2350 and initial target 2040 for 1st half then see if we can bust down to 1700 (after AB=CD failure).
Crypto Harmonic Trading Notes - First, this is a trade. Harmonics are all about providing proper expectations at the correct measures. Harmonic patterns serve as a basic framework. I have seen many critical AB=CDs, 88.6s and 61.8s mark critical levels in particular. Keep an eye on these measured situations when they develop. Up, down...it doesn't matter - this thing is moving and that's what counts!
The digital future is bright but only at the right price.
Bitcoin Final ThoughtsI started watching Bitcoin nearly a year ago. I have watched harmonic patterns and related measures pinpoint price levels in this market with precision. Today's 3.14 bearish extension was one example of a larger understanding of HARMONICS at work in even the crypto-fx mkt. I updated the original post a few times today stating to cover 1/2 of the original 2730 entry at the 618 target @ 2290 while moving the stop to 2370. Target 1 was good for 440 and the other 1/2 hit the stop for 260.
Final Thoughts - Today's swings were insane! I am looking for another sell opportunity against a retest of the 3.14 target @ 2700 but it is always important to define all aspects of any trade in advance. For now, I am out entirely as I waiting for the next clear harmonic opportunity.
No doubt, the current run in BitCoin is unique and decidedly bullish. I always want to keep a realistic perspective about all trading opportunities. Regardless, all opportunities must be measured in advance with risk:reward parameters understood. I will be monitoring this market closely and look for the clearest harmonic situations that can pinpoint more trades like today's Pi 3.14 Bearish execution.
Bit Pi(e) PtII Update -$300 ALREADY!BITCOIN now down nearly $300 from original post! The 3.14 Pi resistance firmly intact.
The trader in me says cover 1/2 @ 2100 and adjust stop loss to +$60.
...more to come
I Like Bitcoin Pi(e)Here is a HARMONIC SECRET: Always act on Pi projections!
When you hit a 3.14 measured level in any parabolic move, the counter move is near.
Mr. Bit is on an insane run and now hitting a 3.14 extension on the hourly chat.
I don't care how great the future might be for King Crypto, as traders we must respect a measured framework.
For now, I am RESPECTING the 3.14 just above $2700 as a pause.
No matter what, be patient and there will be plenty of opportunity to catch the next BitRally!
AB=CD or Bat Bearish Engulfing on 2H and Shooting Star on 4H. Still there is an opportunity to rally up to the Bat level before the final lengthy downtrend.
EURGBP AB=CD RSI BAMM ContinuationIn my VOL3, I outline a critical AB=CD situation with COMPLEX RSI formations. Look for a minimum AB=CD thrust @ 0.8415 PRZ while looking for RSI to rollover. These situations seek to capture a retest of the initial RSI test @ 0.83. Trend still down until retest completes.
EURUSD - Bearish Bat Pattern Completed on H1 Chart
Terminal bar has formed for the bat pattern
RSI is at overbought level, waiting for bearish divergence
R:R at 1.5 (TP1) and 2.5 (TP2)
I have been down on a few trades yesterday as I neglected economic news.
Some EUR CPI news in 1 hour, I'll wait till after the news are released before considering a trade.
AUD/CADHere we have a gartley pattern with tight confluence to make the PRZ. Also, PRZ is near support from earlier today!
R:R
2.88
TWTR AB=CD UpdateAfter posting the Harmonic Head and Shoulders, the stock is breaking down to retest the all-time low. There is an ALL-TIME AB=CD at $11. The $10-11 range is surely the make-break for Twitter as a business!
(1h) Black Oil at Cypher Headquarter! ;)FX:USOIL
A mix of Darvas, with Carney & Ell.waves :)
Safe Trades;
USD/JPY - BEARISH SHARK PATTERN Really nice Shark pattern that the market has made us , if your going to trade this then keep your risk suitable and trade safe guys , i wish you a good week ahead :)
NDX Dip and Rip AB=CD @ Gap Fill - Harmonic Trading StrategyNDX Dip and Rip AB=CD @ Gap Fill
Towards the back of my book "The Harmonic Trader" (Harmonic Trader Press 1998) on page 254, I outline situations when pattern completions coincide with price action that fills a prior open gap.
FREE ACCESS to "The Harmonic Trader" pdf:
harmonictrader.com
This chart in NDX 15min is a situation day traders need to look for as a clear harmonic pattern continuation opportunity. The 50% retest (yes a 5-0) and the RSI impulse on the 5-minute were PERFECT confirmation as well! Simple AB=CD patterns are excellent harmonic continuation situations when multiple technical factors identify the same levels of support and resistance.
Check out how I identify, execute and manage trades like these in live sessions each week.
See you Monday! LIVE Harmonic Trading Access 8a EST: global.gotomeeting.com
USD CAD RR 1:4 opportunity Bat Pattern
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618 (1.618, 2.00, 2.618)
Final X to D: 0.886
AB= CD extension 1.618, 2.00, 2.24, 2.618
SPY RSI BAMMIn Harmonic Trading, RSI + HSI Confirmation make the difference in understanding Reaction vs. Reversals. SPY now attempting to complete WEEKLY RSI BAMM DIVERGENCE @ the 2.0 (1.902 main#)
but it is already acting strong. This runaway SPY train has 250 as the make-or-break target. I am looking at this area for a Q1 peak and pause at the natural harmonic resistance level. It is all about the RSI formation out of the Overbought extreme reading after it rolls over. Look by end of March for this to be resolved.
Financial ETF Bearish Deep Crab w/ Warning SignsHere is a perfect example of a harmonic pattern but not a harmonic pattern opportunity! An ideal Deep Crab that has many WARNING SIGNS. The Terminal Bar (the exact completion point in the PRZ) and RSI condition are less than ideal. Also, Harmonic Traders must understand that the EXECUTION PHASE of any harmonic pattern OPPORTUNITY does not begin until Terminal Bar+1. So, we look for a potential short next week but with much skepticism for the bears!
Anyone who promotes a "set&forget" strategy dismisses the discipline required to make the critical assessments that can avoid flawed harmonic patterns. 80% of all harmonic pattern losses can be avoided BEFORE the trade is even executed.
Twitter Harmonic Head and ShouldersIn my most recent book HTVol3, I have a section that reviews the classic interpretation and throws harmonic ratios on the structure to better define the symmetry required for a valid formation. I call these "Harmonic Head and Shoulders" patterns. Twitter peaked shortly after the post-election hyped rally. This now sets up a larger Bullish AB=CD to retest the all-time low, despite increased presidential tweeting.
NAZ UPDATE@1.902In my new book, Harmonic Trading Volume Three I discuss the importance of the 1.902XA extension in Crab structures that acts as a permissible tolerance when the trend is strong. In this case, the brief pause @ the 1.618 is now over and the index is poised to rally as high as 5275 over the next few days. This situation screams all the signs of a failed - or at least a delayed execution beyond the 1.618 - before a larger opportunity can be considered. I recommend that Harmonic Traders assess price action at the exact completion point to make an intelligent execution. Some individuals who teach the "set-and-forget" execution strategy because they fail to understand that the other steps in the trading process require rules in the same manner as harmonic patterns. Here is a free video w/ some harmonic strategies to handle these situations: www.youtube.com
