Bearish Flag / Breakout Possible on the Hour chart, We have come down and retraced to the 618 on the Impulse leg. The fib extention of 1.27 and fib inversion of 1.414 line up with the lowest pin bar on the daily. We are oversold in the RSI as well
I still think we have more downside to come. Looks to me like an outside return and now a possible breakout into a harmonic move like we just had. This also puts us in the area of a D Completion leg for a Bullish Bat on the Daily and a area of support which saw the pair move to recent highs Looking on the monthly chart its still looking like a bear flag formation imo
Eur/Jpy has broken overall uptrend structure on higher timeframes so dropping to the 2 hour time frame and measuring key levels with fibs isnt a bad idea. This past week the 114.000 level has been holding firm as a resistance point for this structure which happens to be our 50% retracement level for our last swing high. * Weekly resistance still stands firm at...
So we can back down to the Daily Support and have bounced. Last time we did this the pair had a 618 retracement back up before the recent drop Im looking at a possible 618 retracement again before a further Test of the daily support
couple of thoughts on this pair. I first saw a possible Double Top as we have come back up to the area of the previous highest wick and we could see a drop back from these levels as before. Also looking at the movements a pbeasigh cypher is almost complete. Also we have had this recent impulse leg up which if we saw an outside return it could co inside with...
Possible C to D leg of a cypher could happen
You're seeing that the EU is forming lower high's every time. This is what should happen next time too, then somewhere around 1.30. Best of trading!
After todays breakout out of the bullish flag (in d1 chart too), we generate a bullish buying opportunity, which follows the general upwards trend of the USD/JPY. Since we are currently in a lightly overbought market (RSI close to 70) and after many big bullish candles in the last hours, we will be waiting for a small pullback to the level of about 122,85 which...
Due to the insecure overall political situation in Europe, plunging chinese stocks and industrial metals, the testing of the upper channel edge and a relatively oversold market , we may see another breakdown at least to previous structure level of at least 10700. Another support zone at around 10600 marked with the thin green line may also indicate a potential...
1. If price reaches the completion of this GARTLEY pattern I will sell. There are three structure highs close to the completion point of the pattern. 2. Stops will be placed above the highest point which is also the A point of the potential BULL BAT pattern. When several highs are close together the highest point often gets tested. 3. Target 1 is slightly above...
After double topped, the kiwi made a strong break down and now it retraces to 618 area, which could be a nice selling oppurtunity with two potential targets and stops above the double top - as it is written above.
VIDEO: www.youtube.com Good morning traders, Philip Stewart here. Today we're looking at some structures and patterns, as well as the AUS RBA opportunities that were presented to us. Please watch the video above for more details about what we're looking at in our trading today. Star Prosper Philip Stewart
Taking a nice risk to reward ratio short trade on the NZD/USD pair. Keep an eye on this one as it unfolds today. Star Prosper Philip Stewart
This is my first Publish Idea this would be a cypher and a bat pattern ( I set thouse patterns based on my own rules ) but before that there is a structured based trading oportunity, so with any luck we could get 2 consecutive trades with STOP AND REVERSE NOTE: I Know my english sucks so don't bother leting me know that xD