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USD/JPY - Bearish 5-0Wow this is huge! Today we have USD/JPY on the 1h chart with a perfect bearish 5-0 pattern, I'm absolutely loving the look of this setup already! The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 I consider this pattern to be perfect as both B and C points come in a 1.618. I'll be trading this pattern in a different way than normal, due to the dollar gaining strength this week I'll be going long from C to D before going short. A valid inverted head and shoulders pattern has formed on the 15m chart which would be an excellent entry point (chart shown below). To add to the bearish 5-0, price has formed a valid reciprocal AB=CD pattern which completes at the D point (chart shown below). I hope you all have an excellent week. Here's to your success!
by LewisGlasgow
6
XAU/USD - Bearish Bat (Continuation)Following up from my prediction over 2 months ago with XAU/USD which resulted in a move from $1249 to $1198 (chart shown below), I'm now looking to get back in to continue the move lower. Price has hit in between the 50% and 61.8% retracement, exactly where the D point of the bearish bat pattern has formed. The measurements for a valid bat pattern are detailed below. B: 0.382 - 0.50 C: 0.382 - 0.886 D: 1.618 - 2.618 Final X to D: 0.886 Taking into consideration one of my other charts (shown below) indicating a potential lower low in the market, price has now hit the daily trendline at $1233 right on the D point of the bearish bat pattern. All round this is an excellent trading opportunity with over 1:4 risk to reward.
OANDA:XAUUSDShort
by LewisGlasgow
8
USD/TRY - Bullish Shark + Bearish 5-0 COMPLIMENTARYHello, Traders! Today we are looking at TWO COMPLIMENTARY PATTERNS! We have a bearish shark and a bullish 5-0 pattern on 4h chart with the USD/TRY. I literally just found these two patterns and that compliment the price direction of the market on my previous analysis referenced below. vvv Again, these patterns are not only running complimentary to each other, but also in the projected fundamental direction of the USD this week. The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 The measurements for a valid SHARK are detailed below. C: 1.13 - 1.618 D: 1.618 - 2.24 Final X to D: 0.886 - 1.13
by cdschultheis15
GBP/USD - Bearish Shark + Bullish 5-0 COMPLIMENTARYHello, Traders! Today we are looking at TWO COMPLIMENTARY PATTERNS! We have a bearish shark and a bullish 5-0 pattern on 4h chart with the GPB/USD. With the completion of the shark pattern, we can expect price to reverse down the 1.2260 level That will then complete the 5-0 pattern and we can expect another reversal. With the projected strength of the dollar this week, that gives up both technical and fundamental confirmation. I am super pumped to kick off the week! the charts are looking too good!! The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 The measurements for a valid SHARK are detailed below. C: 1.13 - 1.618 D: 1.618 - 2.24 Final X to D: 0.886 - 1.13
by cdschultheis15
Bulls, bats and butterflies.This set up on the Pound-Frank shows two bullish patterns with the exact same D point! The moves share their A, C and D coordinates. GBP is likely to decline until this level; it has reached this price before but was rejected as you can see by the vast wick (which actually landed at the exact same level as the wick of 2011l take a look back). If price closes at our entry, prior wicks aside, it will be a new low for the pair. At this level, price is very likely to be oversold and we will see a bounce due to the new lows. As the patterns share their A and D points, it is very easy to set up the TP and stop loss levels. Take profit at the usual 61.8%; stop-losses set at a 3:1 risk- little over 120 pips below the X point. We may see some spikes as price approaches the level of support at the previous wick, thus a forgiving stop loss is necessary. Bat ratios B: 0.382-0.5 C: 0.382-0.886 D: 1.618-2.618 xD: 0.886 Butterfly ratios B: 0.786 C: 0.382-0.886 D: 1.618-2.24 xD: 1.272
Long
by KyleMcQuade
EUR/USD - Inverted Head and ShouldersThere are some amazing setups forming on the charts, here we have EUR/USD on the 4h chart with an inverted head and shoulders pattern. The right shoulder formed at the 0.618 retracement which is excellent as the pattern as a whole generally holds a better structure in this situation. The neckline is bang on a key resistance level, closing above this would provide additional confirmation to go long. BUT price could stall out on resistance and sell-off back down to the right shoulder since it is a pivot point in the market. I'll be looking for extra validation indicating long or short in the near future. I hope you all have a great weekend!
by LewisGlasgow
10
XAU/USD - Bullish CypherWe're looking at another cypher pattern but this time on the 4h chart with XAU/USD, this is an excellent long opportunity with 1:2 risk to reward... Don't miss out on this one! The D point forms at a major level of support, I'm expecting price to stall out on this level... This could be a pullback before continuing the bigger picture. The measurements for a valid cypher are detailed below. B: 0.382 - 0.618 C: 1.272 - 1.414 X to D: 0.786 I'd like to thank www.tradingview.com for spotting this pattern and giving me the heads up!
OANDA:XAUUSDLong
by LewisGlasgow
4