EverythingForex

EverythingForex

This is for the short-term trading. There is a bearish Bat that is near complete but not quite yet. Good R;R for both target 1 and target 2. If that Bat triggers, then I expect prices may eventually get down to where there is a bullish cypher pattern waiting.

EverythingForex

***EDIT*** In the chart, I mislabeled it as a "bullish butterfly". It should be "bullish deep crab" With the recent price action, a potential bullish deep crab pattern has also appeared along with the bullish cypher pattern I had already identified. I still favor the bullish cypher pattern as it's D point also rests on an S/R area. But should prices break down...

EverythingForex

4 days ago, I published 2 advanced patterns I saw on this pair: 1 bearish Cypher and 1 bearish Gartley. Prices are now moving strongly towards filling the cypher so I feel the need to issue this warning: Don't trade that "cypher" because it is NOT a cypher! Trade it at your own risk! If you trade it, you are not trading a Cypher pattern! I had...

EverythingForex

UPDATE: With the breaking and closing below of the X point in both these patterns, they are both now INVALID and should not be considered for trading. Best to wait and see what develops from here. I published this chart on another posting on this pair (see Related Ideas: AUDUSD: Dueling Cyphers and All That Jazz! Top-down analysis....). You can go to that chart...

EverythingForex

There is a bull Cypher that will soon complete and should trigger a move up to complete the wave 5 of the large rising wedge consolidation wave that this pair is currently in. OVERVIEW GBPUSD has been in a very long sideways consolidation for 6+ years! By my wave count, this flat consolidation wave is unfolding in a complex double zig-zag ABC-X-ABC pattern. We...

EverythingForex

I'll have to admit that this pair had me scratching my head for a while. Until I finally sat down and did a thorough top-down analysis on it to see what the big picture was. But first, since my headline is what probably caught your attention and is the reason why you are checking out my chart, I'll explain about that first. Currently, I have spotted 2 cypher...

EverythingForex

This bullish CRAB pattern that I had mentioned in my previous post (see Related Idea: EURUSD: Top Down In-Depth Analysis - Bull BAT and CRAB Pattern) was quickly completed today upon the opening gap down. And now, prices have bounced from the PRZ of this CRAB putting in a nice pin bar within the PRZ. Don't overreact to this gap down as being any kind of...

EverythingForex

Spent several hours analyzing this pair for what's happening both short and long term. IMO, my analysis reveals that prices are heading towards a strong support zone area around 1.11000-1.10000 with a confluence of factors lining up around that support zone. Before I go into detail about those factors, let's take a look at what's happening overall from a top down...

EverythingForex

We are currently in a consolidation wave B of a larger A-B-C corrective wave 2 of a possible much larger 1-2-3-4-5. This consolidation wave B is about to end and wave C of the A-B-C corrective wave is about to begin. Waiting for a breakout of the upper trendline of the current consolidation wave B to confirm this. There is also a BAT pattern waiting to be...

EverythingForex

There is a small cypher pattern just completed in this pair. Normally, I personally don't take positions on such low TF patterns as I'm more of a swing trader than a scalper. And the R;R for target 1 is less than 1:1 ratio. But still, cypher is a cypher is a cypher, right? So then why post this? Couple of reason: 1. Currently, we are in an uptrend. (Could be...

EverythingForex

WARNING! WARNING! WARNING! This is just a PSA. Take it or leave it. I'm not normally a fundamental trader but there are certain events that just can't be ignored. There is expected to be a big announcement regarding the Greek financial crisis this weekend that COULD affect the markets in a BIG WAY! Come Monday when the markets open, you could see HUGE gaps! This...

EverythingForex

A bullish Cypher pattern has just been completed. You can take longs from here. I've set the targets but IMO, this pair is headed higher from around this point. There is a large bearish BAT that is potentially setting up (see my post about this: UPDATE: USDJPY Triple Bottom and 2 Potential BATs) I believe this pair is headed to at least 125.500 to fill the CD...

EverythingForex

Following up on my post about this pair a few days back (see previous chart), prices reached and filled the smaller BAT and subsequently, prices have fallen to fill target 1. I am expecting prices to fall further to fill Target 2. Then I will be looking to exit my short positions as I will be looking for prices to then rebound and start to fill the CD leg of the...

EverythingForex

EURUSD just completed a Gartley pattern in it's current consolidation. There is a POTENTIAL Bat pattern setup. This BAT pattern would be complete right around the retest of the previous triangle pattern that EURUSD recently broke out of. As is common, when prices break out of a triangle, prices will often retest it. As usual, should prices break the A point...

EverythingForex

GBPUSD came off a recent double top and declined from there. Prices now consolidating around a previous S/R. Expecting prices to rebound up into 61.8% retracement to setup a possible 2618 trade. If the 2618 trade does setup, then I'm expecting prices to decline near the 1.5700 area to complete the CD leg of a possible bullish BAT.

EverythingForex

If you believe that markets are fractal in nature, then here's another way to see the big picture in what could happen next in this pair. The current PA is almost a perfect fractal to one smaller degree of the previous large impulse wave and ensuing consolidation. After the previous impulse move (A), the following corrective move resulted in a double bottom...

EverythingForex

Clearly, there's a lot going on here. EURAUD put in a Triple Top recently. Now PA is in a sideways consolidation near this top ready to retest the latest high (3rd top of the triple top). Two patterns emerge here within the consolidation: one a bullish Gartley and the other a bearish Gartley. PA is currently making the CD leg of the bullish Gartley. Should prices...

EverythingForex

There are 2 harmonic patterns emerging here: a Gartley and a Cypher. Both awaiting CD leg completion. In addition, there is a potential bullish Morning Star candlestick pattern on the daily TF. If this holds, then next week will see this pair rally and complete the CD legs of the Gartley and Cypher patterns.