USDCHF - 3 POINT DRIVE - D USDCHF 3 POINT DRIVE ON DAILY CHART
Will be going long around the 0.95750 mark or going short if it breaks out past it.
Three Drives
SHORT TERM BULL of GU lead to MID TERM BEARFebruary Gap of GU will be closing soon as the price advancing to the upper level and creating high peak and trough. The price slowly bouncing in the shallow bullish trendline and from the dow theory perspectives the minor trend showed up a bullish trend, while the primary and secondary trend are not confirmed yet to be bullish. The closing gap will generate a strong resistance, clustered with failed harmonic ext retracement, which leads to shark pattern, also rising wedge combined with bearish three-drive harmonic pattern. After lower trough have been made, the bullish trend transition will continue as shark and transition trapping completed.
POTENTIAL BULLISH CYPHER PATTERN ON NZDJPYAs Market is coming down it has Three Drive pattern and RSI is oversold and there is cypher pattern entry also.
Entry-73.64
Stop loss-73.10
First Target-74.74
Second Target-75.42
USDJPY: BEARISH BAT PATTERN + 3 DRIVE PATTERN @ PRZ !!!Hello Traders,
Here we have a really good trade setup on USDJPY , which includes a bearish bat pattern and a 3 drive pattern (blue in color), right at potential reversal zone (PRZ) which consists of several Fibonacci retracements and extensions. 115.18 level (X point of bat pattern) is a strong resistance level which has been tested several times (marked by red arrows). But we would need to place our stop loss above the previous structure low high. Targets and stops are labelled on the chart above.
Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :)
Follow me on Twitter10.97% as well: moneymaking2016
GBPUSD_Potential Three Drives PatternPotential reverse at this zone due to :-
1- completion of Three drives pattern.
2-completion of ABCD pattern.
3-completion of butterfly pattern.
4-valid structure level.
EURUSD H1 - Possible structure (Short and Long positions)Bullish 3D pattern is in play and a possible Wolfe structure can be setup.
a) If the price breaks a little bit the resistance channel (point 5) and a bearish divergence emerges, then it could be a good opportunity to go short targeting 61.8-78.6 fibo retracements (as a first target) and Wolfe wave target as second.
b) If channel remains intact, then it could be a good idea to go Long around 61.8-78.6 Fibo retracements.
Keep in mind that the pair is bullish, but the Bearish Bat pattern on D1 chart is complete (see link below) and bearish divergence is present, so the price could go down in short term.
EUR/GBP -LONG SETUP-1. As shown we are in a channeling uptrend idea of this is to try ride the uptrend as soon as possible
2. Channel support being tested showing price rejection
3. Horizontal support area
4. Fib 38% Seems to be holding
5. Potential inverted hammer being formed
6. Arrows on price showing measured moves to the upside
USOIL_ Potential Rally Movement !Potential bullish movement due to the followings :-
1-Valid Three drives pattern.
2-Fib retracement 0.886 for AB leg.
3-Fib extension 1.618 For BCLeg.
GBPAUD_Cypher pattern completion Potential reverse expected at the decision zone due to the following :-
1- completion of Cypher pattern
2-completion of Three drives pattern (At lower time frame )
3-0.618 , 0.50 Fib retracement for AB , CB legs
4- valid structure level
5-RSI overbought with regular divergence
AUDUSD - Trading the GAP - 3-drives harmonic move.Reasons for entry :
- Bullish Gartley completion
- previous structure/support
- potential 3-drives harmonic move
- fibonacci cluster around week open
- Higher High, Higher Low indicating an uptrend on this time frame
- excellent RR > 6:1
The week on AUDUSD opened with a gap which is not visible on the TradingView charts. We already put in an AB=CD move which brought us to the top (B-point) of the Gartley pattern. We retraced back into previous resistance/support completing the bullish Gartley.
I'm looking for this structure to hold and a potential 3-drives move right into the week open, where we have a nice Fib cluster :
0.786 retracement of 0.7320 high and this week's low
1.272 this weeks low and most recent high
1.414 previous low and most recent high
and 1.618 of inverse extension of current low and most recent high.
Since we are putting in new HH and HL, for me chances are good that we will try to at least reach the border of that gap. This would present us with a nice Reward:Risk ration higher than 6:1
Option 2 : if current lows do not hold and we break below structure we have a potential bull Cypher pattern setting up.
Good trading and may the pips be with you !
EUR/USD H4 - Contracting triangle broken - LONGContracting triangle broken and now the price is following pattern projection (green) on D1 chart (see link below)
On H4 chart, a new channel has formed and a bullish 3D pattern emerges. Bear divergence is present, so it coul be a good idea to trade:
1) Short, targeting 61.8 - 78.6 fibo retracements and after that,
2) Long, targeting 127.2 - 161.8 fibo retracements
As a recommendation, wait for reversal bar pattern inside PRZ box (use H1 chart if necessary)
CHFJPY _ Three drives pattern completion Three drives pattern completion at previous structure level.
USDJPY Short: Wave-C Ending Diagonal at Crab CompletionUSDJPY has completed a possible ending diagonal at the PRZ of a bearish crab pattern. Ending diagonal target is confluent with the unhit daily pivot. Entry is placed at 1.618XA with SL above 1.786XA and target at Wolfe Wave target line and beginning of ending diagonal. Target also confluent with unhit daily pivot for 1/22/16.
AUDCHF - 4H - Gartley in a downward move at resistanceReally nice setup here. We are curretly retesting strong prior resistance/support further we are in an downtrend or at least downward corrective move. daily chart is really messed up so hard to tell. at least recently we are moved alot more to the downside.
due to a good harmonic move id like to see a three dive pattern here with a great RRR if it plays out. current bar seems to be hammer and an inside bar which was the final trigger for me to go short here.
Potential Cypher + 3-Drive Pattern @ same zoneTwo high probability patterns complete at the same zone.
Good trading!
