AUDUSD H4 BAT, AB=CD AND 3 DRIVES PATTERN SETTING UP!Check this out!
We have the following setting up:
Bearish bat pattern
AB=CD pattern
3 Drives pattern all of them completing around the 88.6% Fibonacci retracement
Best of Trading!
Three Drives
(W) Brexit & The Structure // 3Drives PatternFX:GBPUSD
The question is - how fast the price will get there?
Safe Trades;
Complete Nifty Analysis : When Bulls will rest ? Lets do an analysis on Nifty and how its movement will be in coming days.
As we look with Eagle's view ( Daily ), Nifty has been bearish from Feb'15 to Mar'16. For an year Nifty has been completely bearish Trend.
Some companies posting good performance results has driven Nifty to current levels from the lows of 6700's. But tats not only reason for recent bull run. Better Monsoon expectations, Federal reserve creating buzz about raise of interest rates and postponing everytime, Foreign investors faith in Indian economy and buying @ lower levels of market - all contributed to this bull run.
But how long this Nifty Bull can run without break ? Well, in my view ( I can be wrong also) The markets are just waiting for some reason to tumble down to retest 7500-7700 zone. But we should also note that there is very strong resistance turned support zone in 7900-8000's which is difficult to break bcos psychological level too.
If we look on technical side, there are 3 Scenario's I have noticed :
Scenario 1 : (Fibs)
Though for short term we have seen bull-run, we haven't breached 61.8% Fib levels of Larger swing move & 78.6% Fib levels of Fib 2 in same area, if you notice keenly Nifty faced resistance around those fib levels and dropped to 8170 from 8300. 130 point drops are normal but the area where it turned down is Fib levels which makes the case interesting.
Fib 2 drawn on smaller move and its 50% Fib levels & 61.8% of Fib 1 levels drop in the resistance turned support which is 8000's. Markets can retest this 8000, before continuing its bull run.
Scenario 2 : (Trend Lines)
Nifty retested trendlines 3 times in this current upward move and another retest is also possible which falls again in same 8000 levels (marked no.6 in chart). But have you noticed the harmonic play there ?
Scenario 3 : (Harmonics)
There is Bearish 3 Drive Pattern formation but everyone uses different ratio's so its upto you to decide on that.
Similarly, ABCD pattern formation again depends on how you use your ratio's.
Overall, Nifty touching 8000 seems imminent but if it breaks that zone its all together different story which we will discuss later after markets reaching 8000's.
1/4LY FUTS OPEN AND A CROSSROADS - Bull CASE (2/2) Potential three drives pattern.
Should be fairly obviously as breakout of previous top occurs.
End result being a pullback to around $600
(D) The Three Drives Pattern // Structure vs PatternsTVC:DXY
Inverted with my previous published idea for FX:EURUSD , link below...
Wait for rsi overbought condition and divergence:
Safe Trades;
Counter-Trend Gold : Bullish 3 Drive & ABCD Pattern (Hourly)This one is counter trend trade with ABCD pattern completion in 1190-1205's zone which is the last support, if broken XAUUSD Gold will fall to next support zone.
If the chart is looked in bird's view we can spot Bullish 3 drive pattern getting completion in same zone.
I am not expecting too much of bullish run from this idea bcos Fed meeting is within 15 days, so I will be booking some early profits in XAUUSD and keep partial positions
Happy Trading !
XAUUSD two Bat PatternsHello traders,
Both patterns cannot be taken simultaneously. It is one invalidates the other.
Potential long opportunity 1245.13 with 3 drives pattern confluence, trend-line support and follows bullish move up.
or potential short opportunity 1298.25 minor resistance confluence.
Typically I look at RSI conditions (overbought, oversold or divergence).
Feel free to like, share, comment and follow
EURUSD - Potential Trend Continuation Opportunity 15 MI have my eyes on a potential 3 drives pattern on EURUSD 15 M, that is aligned with 0.786% Fibo of the last bearish move. If we add 1.618 Fibo Extension of the 2nd wave, look left you will see a small structure zone. If we combine all then we will get a nice kill zone.
In this kill zone I'll be looking for a short entry - the more conservative you can wait for Double Top or perhaps 2168, the more aggressive of you can enter once price is in the kill zone - you will get more than 1:1.5 R/R.
If you're patient you will get a nice Trend Continuation Opportunity.
Good Luck.
Trading Three Drives Pattern On Daily CADCHFFX:CADCHF
Looks like a perfect entrance time to trade this pattern. Ideally price should go down all the way to 0.7150 but I am going to keep it conservative and put the take profit level near the bottom of the daily channel the price has been honouring.
Bear Advanced Pattern FormationWe expect to a have a retest of structure, then up to our previous resitance, and then hit our target :)
XAUUSD _ Valid Head & Shoulders Pattern Potential reverse at the mentioned zone due to valid Head and shoulders pattern and valid Three drives pattern in lower time frame
USD/CAD H4 - Long setup - 3D pattern/Wolfe wavePrice is now completing a 3-drives pattern and an up move could be expected. OIL price is pushing CAD high and will continue till April 17 (OPEC meeting), will see if the pattern remains after that meeting.
short position on USDCAD 2 previous advance patterns completed. I am still in the trade on the blue short cypher pattern.
I believe the market will rally to the blue box area and terminate around 0.3039s. There is a Fib retracement of 0.382 in that area. Then market will reverse and continue short terminating at 1.2850s completing a 3 drives pattern. 3 drives completes at a major support level which has been tested 3 times already.
