Monday Motivation! possible Cypher pattern forming on USD/CAD, personal target is one target at 38.2, Stop loss is 113 inversion of X - A leg.
A CG Gartley is nearing completion, a very nice level of resistance at the completion zone. This CG has a 61.8 retracement of AB leg meaning our completion is a 161.8 extension of BC leg.
Pattern Traders, a cypher pattern has completed with a strong rejection off of a major resistance level. Also a head and shoulder pattern is forming, my entry is at the retest of the left shoulder.
Traders a possible opportunity to trade pullback bouncing off nice support shelf, this is a counter trend pullback trade so must wait for break and retest of wedge/squeeze pattern, entry on 15 min or 5 min engulfing candle, even better if it follows a pin bar.
Bat pattern nearing completion on "the beast" if you dont trade fixed % MM plan you may want to stay out this trade, trading G/J comes with high risk.
Market still has a ways to push down but if it does there is nice support shelf for a cypher completion the support zone.
If market can push up possible Bat pattern completion at decent HTF resistance area for a high probable short. Taking traditional targets at 38.2 and 61.8
What is a CG gartley (Chameleon Gartley)? well it is a gartley modified for a symmetrical ab=cd completion point. In this scenario is an A to B retracment of 0.707, the reciprocal of .707 is 1.141. A completion at 1.141 will give a equal ab=cd pattern also giving a better RR than traditional Gartley. I take no credit for this pattern I learned it from Thomas Brandon.
Bat pattern forming for a nice short opportunity going with HTF trend.
Cypher pattern forming here o CAD/JPY, Looking for tradition target of 38.2 and 61.8 retracements.
here we have a almost perfect harmonic shark with completion lining up at 1.1618 extension and 88.6 retracement will looking for 5-0 pattern if market reverses to 50 percent...
we have symmetrical ab=cd pattern heading for a strong level of support. Here the retracement is 50 and the reiprocal of a 50 is 2.0 giving a perfect 1 to 1 measured move.
Here we have a cypher, completion at 0.786 looking for correction to targets. I do a 1 in 1 out target to the 50 retracement, however the most common way to trade these patterns is a target 1 to .382 and target 2 to .618.
Cypher pattern getting close to completion, there a lot of patterns showing in the markets, be careful and do not over leverage yourself.
E/U has made a push/extension to weekly zone, will likely see a correction before another push. Here are a few Lower TF analysis to get a great R/R
Cypher formation setting up for a possible Asian session fade, or hi liquidity London open.