Art_of_Trading

Art_of_Trading

ON FX:EURAUD , the price is in consolidation zone on 1H bars. There was a massive drop as it is indicated on last swing (D leg), but bulls power reduced significantly in the last hours, as there were small doji bars,which indicates indecision of the price, followed by the less powerful bullish bars. Thus, it is expected that the price will do its retracement...

Art_of_Trading

On FX:GBPJPY , the market moves sideways on 1H bars. There is no clear direction bias. We all know that when the market moves sideways, it could be opportunity for Harmonic Pattern traders. It is a resistance level at 186.13. It is also X leg of this potential Bat Pattern. The market were close to that level few times but it was rejected as many times. It is...

Art_of_Trading

On FX:EURJPY , there was a dramatic fall yesterday. Today, we can see the steady rise. It is very similar to EURUSD set-up, which I posted earlier. Both currencies have correlated moves. There is a key zone at 133.50, which was acted as support but the price falls below that level and it became the resistance. Thus, it is a important area and if the price will...

Art_of_Trading

On FX:EURUSD , there was a dramatic fall yesterday. Bears got their control, but where are Bulls? There is a key zone at 1.1101, which was acted as support but the price falls below that level and it became the resistance. Thus, it is a important area and if the price will go to that level, it is more likely that it will act as resistance again. We all know that...

Art_of_Trading

On FX:USDJPY , the market is going upward on these 1H bars. It looks, the USDJPY is finishing its correction (retracement) and we have a new impulse leg to start. The price is close to previous structure low at 120.21, which is the X leg of this Gartley. This gives us an opportunity to go long and lock some profits. T1 - 38.2% T2 -...

Art_of_Trading

On FX:GBPUSD , we have seen dramatic fall on Friday. It is clear that Bears are in control of the price, but lets look at a bigger picture. We have a trending market. It is going upward this month, because it makes higher high and higher low on 4H bars. Also, there is a nice trendline, which is acting as dynamic support three times and it is more likely that...

Art_of_Trading

On FX_IDC:EURJPY , we have seen the sharp price drop on Thursday and it continued on Friday. It seems, the Bears (Sellers) are in control of the price last few days, so question is: when Bulls (Buyers) get their control? The price hit 1st October low, which is also the support level (133.375). The price bounced on that level twice and it is more likely it will...

Art_of_Trading

On FX_IDC:EURUSD , I have decided to highlight key zones on 1H chart bars. The price moves between 2 key levels - 1.1388 and 1.1335. In addition, the triangle is formed between those two levels. It the price breaks the triangle and support level at 1.1335, it could be a good indication to go short. However, there was a fake breakout before (see long shadow), so...

Art_of_Trading

On FX:EURAUD , there is no clear trend direction. It is hard to say 1H bars, who is control the trend, Bears or Bulls? There were short uptrend, but today's strong downward broke previous structure. However, these set-up gives an opportunities for harmonic patterns. The 'small' Cypher Pattern appears, which can be sign to go long. Bulls have been controlling the...

Art_of_Trading

Its Monday Morning; Investors and Traders are ready to make their decisions, however, they await big players to make their moves first. So, I do not expect volatile moves today, big moves mostly happens when the London Seasons opens on Monday. However, there is a nice opportunity to grab some nice profits from today's set up. After strong price drop, the price...

Art_of_Trading

On FX:EURGBP , the price is in consolidation zone for last few days and there is no clear direction of a trend on 1H bars. There is a key zone area at 0.7341, because the price has reacted on that zone already few times; it getting close to that zone and it is more likely that that level would act as support at this case. In addition, Bat pattern appears which...

Art_of_Trading

On FX:EURAUD , last move broke previous structure and market doing down on 1H bars. Today, EURAUD is Bearish, but its going to make its correction soon. There is a key zone at 1.5902, where price had reactions before. It is more likely that it will act as support if it hits next time. Moreover, Gartley Pattern appears which finishes its D leg exactly at key...

Art_of_Trading

On FX:EURUSD , market is not trending. It simply moves sideways and have no direction bias. It is not nice set-up for trend follower traders, but it is a great opportunity for harmonic pattern traders. Potential Gartley pattern appears in this market, which gives precise guidance for Entry, SL and TP. Moreover, there is nice risk reward ratio. T1 - 38.2 T2 - 61.8

Art_of_Trading

On FX:EURJPY , the market is not trending. It found next resistance level level at 135.16, which was support before. Price respected this level already few times and it is more likely that it will do it again. Gartley pattern appears, which finishes its D leg exactly at resistance. This set-up increases probability of this trade. T1- 38.2% T2- 61.8%

Art_of_Trading

On FX:EURUSD , the market has no direction bias. It moves sideways, where Bat pattern appears, which is a great opportunity for entry. This set-up gives us nice risk/reward. As it can be seen that, the price already hit D leg at 88%, retraced the market. Aggressive traders can enter market, while more conservative traders wait patiently to make double top at 88%...

Art_of_Trading

On FX:USDCAD , there was nice upward movement on 1H bars, but last move broke the structure; thus, there is no direction bias and price entered in consolidation zone. There is a strong support level at 1.3227 level. Price respected this level already few times and it is more likely that it will act as the support next time. The Cypher pattern appears in those...

Art_of_Trading

On FX:EURGBP , the price moves sideways and it found resistance at 0.7354 and support level at 0.7243. Price respected that support level last few times and it is expected it will do it again. During this market, the potential bat pattern appears, which gives clear guidance for enter, SL and TP. SL can be placed below support level. T1 - 38.2% T2 - 61.8% This...

Art_of_Trading

On FX:EURGBP , the price moves sideways on 1H bars, where it found great resistance level at 0.73547. This is very significant zone, as it can seen, price respected that level many times and it will more likely that it will act as resistance again. Bat pattern appears, which increase the probability of this set-up and give clear guidance for enter, TP and SL. It...