Last 2 weeks eur/usd have been trading down in broad bear channel, after election spike, forming wedge bottom at measured move target and double/trip bottom (on weekly chart). After a break of channel,we look for transition in trading-range (TR) for 1-2 weeks. Break of the channel is transition from trend into trading range. Bulls will target previous lower high's...
Scott Carney - harmonic gartley pattern. Price falling below 161.8% projection of BC - 1.0631 would invalidate this pattern !
Look for short opportunities around the levels I marked on the chart. However this is medium term trade and we just entered in potential reversal zone. Pattern should not be taken in consideration if it breaks trough potential reversal zone (PRZ) drawn in red.
Goes hand in hand with my previous analyses. I believe we should soon find support and make a brief correction.
Soon we should reach buy zone between 1.0750-1.0719, after that look to go long with first target of 1.1080.
EUR/USD H1 chart turned down from wedge top and completed 2 legs down to support (standart target from wedge top). We are likely to see some correction up before further downside. Level to watch is 1.1193 (support), if we fall beyond this support, 1.1184 could be on our cards next. For even safer signal you can wait for 8/14 moving average breech ( when green...
Exit when opposite color HA bar appears, or rely on stop-loss.
Exit when red HA bar appears, or stops below support.
So far so good, last 4 trades got me nearly 80-100 pips each. **** Exit when see next green HA bar.
Trade becomes invalid AFTER ENTRY if at any time a candlestick changes color and shoots up or down in the opposite direction crossing BOTH of the 8/14 moving average lines.
For safer signal, wait for blue floating line (8 period WMA) to cross red line (14 period EMA) for confirmation, then enter. (Not necessary) EXIT when heikin-ashi bar turns red (safe exit). Or stop-loss below recent lows!
For safer signal, wait for blue floating line (8 period WMA) to cross red line (14 period EMA) for confirmation, then enter. EXIT when heikin-ashi bar turns green (safe exit).
For safer signal, wait for blue floating line (8 period WMA) to cross red line (14 period EMA) for confirmation, then enter. EXIT when heikin-ashi bar turns red (safe exit).
Big bear bar, might not retrace exactly at 1.3108 (78.6% retracement). Pattern valid as long as price doesn't break trough 1.3029 (X) level.
This is a longer term trade! Bat pattern will complete at 1.1367 (88.60% XA retracement, near AB 161.80% extension), but it can can't exceed past X point (1.1423). If we see comfirmation for sell (rsi divergence/overbought), then it might be a good selling place. I didn't draw support/resistance in this picture, but there are also major resistance. Gartley...
That's what's cooking!
We are likely to see some more sideways price action, however I drew in possible Bat and Cypher harmonics on hourly timeframe. We should just wait and see if any of them will play out and provide us with any opportunity. Update status