ggekkotrader

ggekkotrader Updated 

Looking at harmonic numbers, I anticipate that EURUSD will be moving lower and will try to find support at D1 or D2 levels. Hence, I would be looking for short side opportunities bias until market reaches these levels or demonstrates are clear reversal (move above "C").

ggekkotrader

In an earlier idea analysis of daily timeframe, I have developed a bearish bias on USDJPY. Now looking on a lower timeframe - 1H - I see a sort of bearflag formation wich could be also interpruted as a smaller (fractal) abcd pattern within a larger ABCD's CD leg. This just reenforces my bias to the downside and I am waiting for the market to give me further...

ggekkotrader

Just a potential trading idea in a development. Looking at Daily chart of US Oil, I noticed a Harmonic Pattern developing. Now, I am not too hung up on proper names of these patterns and am not too obsessed with swings hitting "textbook" retracement or extension rations on the nail. I am a little bit more liberal with my Harmonic Pattern trading.  Now, in my...

ggekkotrader

From the Daily chart it appears that EURUSD has topped out. It appears that Head & Shoulders has formed (over 3 months or 13 weeks old). Ideal entry would have been on the neckline B/O at 1.1660, but I was late to the party. But as they say, better late than never! Short @ 1.16307 SL = 1.1710 Target 1 = 1.1450 Target 2...

ggekkotrader

GBPUSD has formed two bearish harmonic patterns after breaking out of a symmetrical triangle. Will be looking for possible decline. This is for my self education purposes, not likely to trade this trade as I don't at the moment hold my positions overnight and rather scalp intraday instead. But as I am always curious about various market assessment methods and...

ggekkotrader

Simple observation - most recent consolidation from end of Aug till now resembles a classic flag pattern (at least to me). Recent Friday close broke below the flag boundry - continuation??? Further market hesitated at SELL ZONE that I marked in red rectangle 1-2-3 SET UP Simple classic set up that has many variations - here is the simplest one that I know. Mid...

ggekkotrader

Looks like Dax30 made a substantial move up in 5 waves. I am not too proficient in Elliot Wave, but this looks like a good enough run and time for some sort of correction. Bollinger type divergence is developing between Bollinger Bands and %B. Also, there is a steep trendline that could be a target for bears trying to break below it. They are testing it now....

ggekkotrader

Looks like we are nearing a PRZ of a butterfly pattern on a 4H chart of Crude Oil. PRZ in confluence of 1.272XA and 1.618AB extension Targets will have to be recalculated when actual top occurs. At the moment preliminary targets are marked with the green rectangles. Let's see how this is going to play out. Happy trading! GG.

ggekkotrader

This has been overlloked by me and may be a little belated to act unless there is a healthy retracement. But I can see a perfect ABCD (in red) within a larger mirror In blue there is a structure that some sources referred to as a Nen Star or Nan Star pattern. Again, I am not too hang up on names. There is also some healthy divergence to add to this outlook....

ggekkotrader

This is a fairly nice looking Gartley pattern with PRZ zone coming int at confuluence of XD = 78.6 and AB-CD at 127.2. Stops are an individual thing, so no comment. Targets: Target 1 around 9755 Target 2 around 9550 Additional supportive evidence is a bearish divergence between the price actiona and RSI. Good trading everyone! DISCLAIMER: Trading is a risky...

ggekkotrader

This is not the market that I trade regularely. Pls treat this post as "thinking aloud". I am not too hang up on quoting fancy names of harmonic patterns. I simply look for confluences of some key Fib numbers. It appears that there are a couple of "mutant" Butterfly patterns developing on 1H timeframe. I would look to the larger one as the key. Within the BCD...

ggekkotrader

It appears that a CD leg of a Bearish Butterfly Pattern (yellow) is in progress. Possible rally up to 0.8820 can than be assumed (a 200% projection of AB and 127.2 % projection of XA). This target is also in a proximity of a 78.6 retracement of 29 October High..0 8770 level could pose as a resistance to this rally as it is a 161.8 projection of AB. A break of...

ggekkotrader

After breaking down DAX started consolidating and formed a micro cup and handle pattern indicating to me that there is a possible correction rally possibly to 9300 - 305 level (50% retrace) or upto 320 (61.8% retrace) before continuing down. Did not take the trade because personally don't like classial patterns on micro timeframes. But decided to log it as a...

ggekkotrader

On a longer scale GBPUSD is in a consolidation top. Withing consolidation on an 1H chart a bearish gartley is forming. PRZ projected at 1.7153 mark. Placed a sell at 1.7150 stop just above X mark at 1.7168 target at 50% retracement of AD at 1.7130

ggekkotrader

EURUSD looks like forming a bullish Gartley pattern (not confirmed yet). CD leg is forming (possibly) with the potentail reversal zone at 1.3540 - 50 . Shorted around 1.3644. Closed half at 1.3600, placed stop at break even on the rest of the position.

ggekkotrader

EURUSD looks like forming a bullish gartley level with the projected reversal zone around 1.3540 - 50. CD leg of potential (not confirmed) pattern is forming. Took a minor short position. Closed half around 1.3600 round number and put the rest on a break even basis stop loss.

ggekkotrader

Gold been in a triangle consolidation. CD leg is developing at the moment. A window between 61.8 - 78.6 retracement of BC could be considered a buy window. Projected upswing could be upto 1360 - 1400 window.

ggekkotrader

On a 1D chart a double bottom formed (some could even consider a triple bottom). Price then broke out above pivot point of 0.8951 Next significant resistance region could be between 0.9050 - 70 Hence, took a short term long position with stop at 8940 and target at 8950 (conservative). !!!! Constructive criticism and feedback are welcome!!!