EURUSD - Long Term AnalysisI did a nice monthly review on the EURUSD. Way too much confluence on this currency pair.
1. We have been trading a major correction this whole time.
2. Major flag
3. ABC Pattern.
4. Bullish Butterfly.
5. MACD
I placed a PRZ where price can reverse. If price continues to drop and leaves the harmonic patterns PRZ box from the bottom im no longer interested in this pair.
Im looking forward to seeing how this plays out.
Lets see what happens.
:)
Traderslounge
Great Bullish Bat Setup on the USDJPYSetup displayed at a strong support zone. We can expect the trend to reverse at this point and head towards our Fib. levels. We also have a nice oversold region on our stochastic so we have more confluence to go long on this trade. The trend is most likely done correcting. Remember we no longer interested in this setup if it leaves our PRZ zone from the downside.
:)
Short Natural Gas? Bearish Butterfly Pattern. Price is currently at a strong resistance zone. We can expect a retracement/correction to the downside before going long again. I'm looking to short this pair when my trading plan agrees. Stochastic is approaching the overbought area. We also have a nice bearish divergence for a sell on the 1 hour.
:)
Nice Bearish Butterfly Pattern on the NZDJPYI'm looking to sell this setup since it has approached a strong resistance zone. I do believe the trends upward impulse momentum has slowed down so expect a nice correction before selling. Stochastic is also nicely overbought.
My Target area: 78,200 - 78,000
Always apply risk management.
:)