EURCAD is forming bearish Gartley and bearish Cypher patterns. D points are the same for both of the patterns so probability of price turning at D is high. X point is at retest of structure. I´m looking for a trend continuation trade to downside. Click like if you like!
Price has moved to a level that has worked as a support/resistance previously. Latest upward move forms an ABCD pattern with fibonacci extension 1.618 @86.100. RSI is over 80 so this pair is overbought at the time and it may take a little brake from moving up and move down at least temporarily before possibly moving back up again. I´m looking for an opportunity...
Details in the chart.
There are potentially two patterns forming in USDCAD, bullish Bat and bullish Cypher. Cypher will be completed at very interesting price level that worked as resistance earlier. Now that price has moved through that resistance we can assume that this level will be a new support level and price will test it before moving higher again. More aggressive trader...
Simple pattern trade. Details in the chart.
New potential Cypher pattern is forming in AUDUSD after Gartley pattern that worked pretty good.
Price went down from previous bullish Bat that was completed a few days ago. Price action went down straight through PRZ and X point levels of that previous pattern. Now price action has completed bullish Bat once again. Great risk/reward and a confluence of fib extensions in PRZ are making this Bat a great trading opportunity once again. Wait for the...
Bullish Bat is completed in EURJPY. PRZ has many fib extensions that has been tested by price action and it seems that these levels might just hold. I´m getting ready to enter, but first we need to get some kind of a confirmation about possible reversal. Once (or if )we get that I´m going to enter.
Bullish Bat pattern is completed. Potential reversal zone (PRZ) has many fibonacci extensions in it, not only one or two. That makes this level even more important as a potential reversal area. Structure is giving strong support and there is also an ascending trendline giving some support at this level. After a strong downtrend move that has taken price from...
Bullish Cypher is almost completed... Area for entry is on an ascending trendline that´s been tested a few times. Risk/reward to target 1 is 1:1, not exceptional but it´s OK because this is Cypher pattern. Cyphers are known to produce good result with high probability.