As I'm currently back testing this concept, I've decided let this concept go out for spin.
AUDJPY has been on a prolonged uptrend, I use the parallel channel to establish the current uptrend. Now it's a possibility price action may break the uptrend with a series of lower lows and lower highs, price action is also in an equilibrium state where it's possible the final hit may exceed the prior lows. It is not common for a retracement pattern to exceed a...
An ab=cd pattern was used to define this significant turning point, upon completion of the PRZ, price has consolidated and done 4 hits to the high, stabilising at the peak of the completion of the pattern. I use the take profit levels of the pattern and apply aggressive trade management. *NOTE* DO NOT MOVE STOP LOSS PREMATURELY, THIS CUTS POTENTIAL WINS.
Although I've missed this, there is a possibility price may come down to test the zone, if not, just another learning curve.
4 hits to the high Awaiting for lower highs and lower lows Target previous support
As I'm currently back testing this concept, I've decided let this concept go out for spin. The 1.618 level was triggered right on the opening of Asian session before heading bearish as the RSI indicated this pair is overbought. This is potentially one of the ideal scenarios you'll want on the RSI readings. Again it's imperative not to treat this as a holy grail...
From the failed Bullish Butterfly pattern, I've realised an undercover bullish ab = cd hiding within the pattern. Looking at the the higher time frame, I see the pair is sticking with the predominate uptrend with some minor corrections along the way. I've started to back test a new strategy that has taken the harmonic approach to a world of unprecedented accuracy...
The bullish butterfly is at present of what may seem to be an end of the bearish siege. A friend of mine spotted a Bullish Butterfly on the 4 hours of this pair, one I actually didn't notice so thanks for this. Long term this pair has been on a heavy uptrend and has been receiving minor price correction. These price correction helps a trader enter back into the...
Although price is on a heavy down trend, I've noticed that price is holding down the low. Upon this level of support, I've spotted a bullish ab = cd pattern, one that may reset the trend.
AUDJPY has been trending up for a long period of time and then got exhausted. Price has entered a distribution phase where it pills up orders to trick traders to go both ways, long or short. I've waited for price to lure traders into it's trap then reveal the main move. Price showed it's move which took out traders going long and decided to go bearish. Now within...
Bearish harmonic pattern on the 4 hours, since this pair has been trending down for long while, this bearish pattern lines up with the bias of the trend. Now I wait to see how price reacts to the setup.
Public Journal #2 Quick glance at GBPUSD, while I don't look at this pair, a friend of mine, asked me to show what I see currently on this pair. To the public, this could be a free signal ;).
NZDJPY has been trending up for a long period of time, so I know price will pullback eventually. I've noticed price has now entered a consolidation phase, due to price being exhausted from the endless uptrend, in that consolidation, price has done the peak high, so any short scalpers are now coming into play and trade away from the high. There is a support level...
Harmonics Live testing, currently learning harmonics, friend gave me a shout to check out this pair and I saw a BAT Pattern forming. Won't be trading this setup as I don't focus on indexes at the moment, but let's see how it plays around the PRZ. The target is for it to reverse around that level, preferably the 88.6. Time will tell.
We've seen that AUDJPY, has been on a downtrend since the start of November, prior to that downtrend, AUDJPY, had a distribution phase forming at the top. Price has dropped ever since then and is now doing a correction, I believe we're in a re-distribution where after a prolong downtrend, the CO, has taken a pause to collect more orders before heading down. Now...
I've been watching Bitcoin recently and saw price has doubled topped on the daily time frame, however, while noticing that, I can't help but also see price is currently ranging in distribution phase on the daily time frame as well. As price came down from the peak, it has rather interesting that it is consolidating, scaling down to the 4 hours we see the Wyckoff...
Now I have two trend lines running through the market, now technical indicators still insist on buy, although we can see Lower Highs forming, now this was something that baffled me, were in a slow downtrend yet the indicators say buy, that's when I realised, EUR/USD, could be in a bullish flag, something to consider, see you at the market, LJ