Bullish Gartley, 141% B to C projection, test of the trend line's broken channel
Bearish Gartely pattern forming
Price testing the broken support leve
As price failed to carve out new highs over the February 2nd highs and has come back to test the support trend line, i'll be monitoring the level for a break out before entering the market. i'm extra careful here because the other JPY pairs are not clear cut cases of the intention to sell hard
The 1st is the butterfly pattern that just completed, but i suspect that a bigger order block sits around the trend line.
Current support level : 1.35837 current resistance level : 1.37876 Harmonic Patterns : bullish Shark Pattern Trend analysis : support trend line break out retest Fibonacci : 62% retracement the last major swing SL @ 1.38684 TP @ 1.21210 Strengths: - Price usually corrects itself so that it doesn't stray off to far from the EMA 10 & 20, the support trend line...
current support level : 0.76347 current resistance level : 0.77801 Harmonic Patterns : bullish Gartely Pattern Trend analysis : Rising wedge, double bottom @ the support trend line Fibonacci : 78.6% retracement of XA leg SL @ 0.75934 TP @ 0.81770 Strengths: - Strong confluence at this zone Weakness: - Rising wedges, in most cases, break out to the bottom -...
bulls barely managed to keep their head above the water, so i'm entering the trade with a smaller lot size, the next daily candle is, for me, the decider
a bullish bat is currently forming on the 4hr chart , price will conclude the 1.168 BC projection at 88% retracement level of the XA leg, this area coincides with the trend line formed almost a year ago and is also the bottom of the current range.
if today's candle breaks the current support level, look for opportunities to short.
price pulled back from the neckline perfectly but there's the NFP tomorrow so prepare for a bit of some turbulence.
nothing confirmed yet but with the pin bar forming, it doesn't look like the bullish bat pattern will reach it's completion point