Type2
USDJPY-Weekly Market Analysis-Dec21,Wk3On the Daily Chart, USDJPY is on a potential Bearish Head and Shoulders which coincide with the Type2 Bearish Gartley Pattern and the 15minutes chart Bearish Bat that you see on this 1-hourly chart.
I'm waiting for the Bat Pattern confirmation on the intra-day timeframe and head in for the shorting opportunity.
This is the only trading idea I have that allows the stretching of targets that I've identified this week.
GBPUSD - Type2 Bullish BatA Type 2 Bullish Bat Pattern completed at 1.3420. Why is it important to know if it is a Type1 pattern or a Type2 pattern?
Well, a Type 2 pattern simply means that the Harmonic Pattern has reached Target1(at the minimum), this means that some of the traders who were on it, has already got off the ride, lesser traders in that direction means weaker movement.
You have to be able to accept that the movement might be slower than the Type1 setup and the movement may even go against you.
Of courses there are other indications that would suggest if it is a good idea to engage it and I've used those filters, all is left to do is a candle confirmation at the completion price.
If the market reverse from the current price, we could expect a Bearish Deep Gartley Pattern complete at 1.3503. This is also a Great Zone to short the market because the Price Action Traders may hop on the bandwagon and the structure trader may head in for a short at the Resistance as well.
AUDUSD - Bullish ChannelThere are two Harmonic Patterns, namely the Gartley Pattern and the Bat Pattern on the Daily Chart, but what I want to put my focus on is the Bullish Parallel Channel.
The three timeframes, the Daily, 4-Hourly and 1-Hourly chart respected the Bullish Parallel Channel which gives the counter-trend traders an opportunity for a buying opportunity. The potential target level will be at 0.7545 as a type2 Gartley Pattern is formed.
NZDJPY - Bullish SharkIf you are familiar with Harmonic Patterns, NZDJPY is a fun pair to trade. At this moment, either 5-0 Pattern or Bullish Shark check back is going to happen on the 4-hourly timeframe.
NZDUSD - Type2 Bullish BatA Type2 Bullish Bat might not intrigue many Harmonic Patterns Traders to engage the trade. The rationale is simple, a big percentage of the Harmonic Trader has exited the trade and not looking to enter a new trade, but you can treat it as a structure trade setup on this Bat Pattern too.
Take note that Point C touches Point A.
Bearish Shark or Bearish Deep Gartley?Will this pair eventually be a bearish shark pattern or a type2 bearish deep gartley pattern? And all this will be determined by the candle close. Latest by Tuesday, 11May21 we will have an idea of this trading setup.
Type2 Bearish Bat PatternWell, the market has spoken, the setup is more of a bat pattern than a shark pattern. The ideal situation right now is that the market head down towards 0.7733 and rebound to 0.7785 and give us an amazing shorting opportunity. That pretty much looks like Hollywood trading, well jokes aside Type2 Bearish Bat setup waited at 0.7785 for the shorting opportunity.
Make sure the candlestick closing is in your favour before engaging the trade.
EURUSD-Weekly Market Analysis-Mar21,Wk3This is a valid Butterfly Pattern setup. You might ask why is that so? It's because the Stop-Loss wasn't triggered. It has also reached the 1st target.
At this moment I'm waiting for the market to retrace back to the black box for a type 2 bearish butterfly shorting opportunity, breaking and closing above 1.1989 will invalid the pattern.
GBPJPY - Type2 Bullish Shark Within the Buy Zone(Demand Zone) we have a Bullish Shark setup. Yes, we can expect a Type2 Bullish Shark setup. Candlestick confirmation is important before engaging the trade.
This is because having a type2 Bullish Shark pattern means that the previous Bullish Shark has hit the 1st target and traders might exit the trade which can weaken the bull run.
USDJPY - Bearish Shark & CrabA Bearish Shark & Crab pattern setup and completes at the same point.
You can wait for a retest back to the previous high for a Type2 shorting opportunity for the Harmonic Patterns. This might look like a countertrend trade for most, but it is a potential trend reversal setup for me.
EURJPY - Bearish ButterflyAt this moment the market is showing a Type2 Bearish Bat Pattern, Aggressive Trader can consider a shorting opportunity for the setup. The 1 thing you need to take note of is the trendline, once it reaches the trendline level, you have to shift stop to entry, that will prevent you from making unnecessary losses.
Conservative trader can wait out for confirmation, a bearish butterfly pattern is possible and it's looking to complete at 127.67.
EURJPY - Bearish BatLast week I have reminded you guys on a shorting opportunity on this Bat Pattern and I hope that you didn't miss the 90pips bear run which is approximately 900USD/lot traded.
In my Video Analysis, I did speak about buying on the trendline as long as the candle didn't break and close below it, that gives you an 80pips of running profit at this moment that will give you an approximate 800USD/lot traded.
At this moment, I'm watching closely on the red line, as long as it didn't break and close above the red line, I'll head in as a type2 bearish bat setup, I will also watch closely on how the candle react on the trendline.
USDCAD - TypeII Bearish Shark CrabA type2 Bearish Shark and Crab pattern may set up for a great shorting opportunity. The price I'm looking to engage in a range of 1.3322-1.3338. President Donald Trump earlier wants to have the vote-counting stop and want to bring this to the supreme court.
GBPJPY - Type2 Bearish ButterflyWaiting for a type2 bearish butterfly shorting opportunity on this pair. On the 4-hourly timeframe, this is still a trend trading setup. Whether to engage this trade will depend on how the current candle close.
Actual target will be sent to our community, check out the link at the signature.
EURJPY - Type2 Bearish Bat A counter-trend opportunity on EURJPY as the market presents a Type2 Bearish Bat Pattern setup. Trade has already been engaged and it takes on an aggressive approach, well, sort of. The market did have a confirmation before(circled in yellow) right now is the retest or known as double top to some. The only concern is that candle confirmation(circled in yellow) is kind of weak and the current candlewick is kind of long as it is a sign of weakness towards the downside. We will be observing closely on the market movement and will take necessary steps.
GBPJPY - Type2 Bearish BatA type 2 bearish bat pattern has created a trend trading opportunity. Pending order has been set in, let's see how's the trade goes.
GBPUSD-Weekly Market Analysis-Jul20,Wk2Waiting for a retracement back to 1.2523 as long as it doesn't break and close above the recent high, it will be a good consideration for a shorting opportunity.
If the market head back down to Point D, with an RSI Divergence I will head into the Type2 Bullish Bat Pattern trading opportunity.
Trade Ideas Position: USDJPY SharkA type2 bearish shark pattern is in the zone. It's known as the type2 pattern because it has reached the first target.
Sell limit has been placed.
EURUSD-Weekly Market Analysis-May20,Wk3A sideways consolidation on the daily timeframe which indicates by the big green box, there is a bullish bat has triggered on the 1-hourly chart.
Traders who are looking for a buying opportunity can wait for a retest at the entry price which the chart indicates (Terminal) for a type2 trading opportunity.
Trade Ideas Position: GBPJPY BatA Type2 Bearish Bat pattern has surfaced, the 1st test on the trendline wasn't a strong indication as we do not have sufficient evidence to see if that's the next high price of the move.
I'm looking for a shorting opportunity on this trade setup.
Trade Ideas Position: AUDUSD SharkA pattern over pattern, the emerging bearish shark completes at the region on the Type2 Bat Pattern, a confirmation is needed to engage this trade setup.
USDJPY-Weekly Market Analysis-May20,Wk2A TypeII Bullish Butterfly Pattern setup for a buying opportunity and if the market head up we have a bearish crab setup waiting for us, it will be an interesting week ahead.
