In a general down trend a potential bearish Gartley is forming. Watch what happens when the 0.786 retracement is reached...
During a downtrend I watch a bearish BAT pattern developing. See further details on chart.
Expecting price to reverse once 0.786 is reached and to go long.
Expecting a downtrend after reaching the 0.886 level
Expect a down trend when 0.786 is reached.
Expect a bearish move upon the completion of the (green) Gartley pattern (at D level 0.786 - red circle). That level also coincides with a (light blue) ABCD pattern (a-b-c-d) with a perfect 1.272 extension (red circle)! It all fits in a bearish trend which is prevailing since April 2018.
Expect a bullish mobe at the commpletion of the pattern.
Expect a bearish move at the completion of the pattern.
Bullish Cypher developing on the 4 hr. NZDUSD chart.
potential Cyper pattern developing on AUDUSD.
First I need to appologize for this very confusing picture where I anticipate 3 separate patterns. Given a daily level of support around 111.6 and a level or resistance around 114.3 there could develop a CYPHER pattern (matching the lower level of support) which could be followed by a BAT pattern (terminating at the upper level of resistance). Or we could just...
... developing in an uptrend which started in Jan. 2017. Chances are that the price will pull back down to the 0.886 level due to stronger previous price action around the 0.5 retracement.
... developing during a 6 months long down trend.
... developing in an uptrend channel.
potential Bat Pattern is developing on EURUSD in a current uptrend.
seeing a potential Garley (or Bat) Pattern developing on NZDJPY within an upward channel. We'll see if it works out...