KatlegoKing

KatlegoKing Updated 

You can either wait for the cross of the two lines in the stochastic for an entry or play it safe like me and wait for the break of the flag!

KatlegoKing

Bullish flag formation in the daily, wait for the breakout of the top side of the flag to enter!

KatlegoKing Updated 

Enter now

KatlegoKing

Wait for the break of the flag on the upside then if that happens, you know what to do!!

KatlegoKing

This is my third attempt at finding a proper sell in AUDUSD this week, unlike the other 2 I waited for a close move to the neckline before sharing! Anyway there is a supply zone just above and this could lead to a fall to end of 2016 lows, but I'm taking profit at that 1.618 level, see you there!

KatlegoKing

Sell at break of the .886 level take profit at 1.618!

KatlegoKing

Double top with my custom recognition technique

KatlegoKing

In the event that price breaks the base of the flag then price will most likely drop all the way to my first Demand Zone but if it breaks that Zone then price might just retrace at the next Zone below it! I also have a bearish bias because NOKJPY which is 89% positively correlated to USDJPY has a double top forming on a Supply Zone, I'll publish that idea shortly.

KatlegoKing

I'm put take profit at 1.618 however I believe price might just drop to December lows!

KatlegoKing

I'm putting my take profit at the 1.618 level however It could be a great entry back down to those December 2016 lows, for the long term.

KatlegoKing

For a safe entry I'd say enter after the confirmed break of that .886 level then take profit at that 1.618 level!

KatlegoKing

Enter now and take profit at that 1.618 level!

KatlegoKing Updated 

Provided price breaks the top horizontal line on the structure a buy entry should be entered, if price does not then no action should be taken! More confirmation for the move up would be the divergence appearing between the Stochastic and the chart.

KatlegoKing

EURGBP and GBPSEK are -97.5% correlated hence we should see a bit of a laterally inverted effect between the two, in which we do hence this can be further confirmation for the EURGBP rise.

KatlegoKing

I'd play it safe and put my take profit at the .618 fib level

KatlegoKing

Drop 1 is longer than drop 2 hence it abides by the Elliot rules mentioned on babypips.com haha Also Correction 1 does not go beyond the start of the whole pattern and Correction 2 does not exceed Correction 1 and both these Corrections retrace at Fib levels!! I'd put my take profit at a safe place by the start of Correction 2 and my stop loss just above the...

KatlegoKing

break of the Flag Chart patterned formed symbolizing potential bearish action!

KatlegoKing

I'm pretty sure a double bottom is forming because when a neckline is drawn and you draw the FIB EXT the .886 level falls not too far and in my experiences from the past most double tops/bottoms had this level right on the neckline or not too far! Price WILL either surpass the 1.618 level or retrace there if price does break the neckline.