johneee3456

johneee3456

The 1.272 extension of the AB=CD pattern and the 0.786 retracement of the gartley pattern both converge around 97.7. The patterns are forming towards the bottom of a trend channel on the hourly time frame.

johneee3456

The Brent weekly chart is currently at the 0.786 fibonacci retracement level. If it can get down to the 0.886 fib. level then it would be a bullish bat, with the first upside target at around 70. If it goes past 0.886 fib. level then my short target will be the 1.13 fib. level, at around 25, this would then complete an alternate bat pattern, my overall bias is...

johneee3456

If the pair continues lower then I will be observing the price action around the 1.4800 zone, for a potential correction upwards.

johneee3456

If the candles look bearish and if the AUD can show some strength then my first target to the downside would be approximately 1.877.

johneee3456

Price is currently consolidating at the base of the 3.14 extension of the CD leg. If the price action can exhibit signs of bullishness and the fundamentals can support a move upward then I will be looking to the 38.2 retracement level at approximately 75 for a correction.

johneee3456

A possible AB=CD on the S&P 500. Depending on the length of the CD leg, it could remain bullish for a while.

johneee3456

There is a possible bullish AB=CD pattern forming on Gold. If the price can head towards 1100, the pattern may be able to complete. Depending on the length of the CD leg, it could gain bearish momentum at the 1130 level.

johneee3456

There is a possible bearish shark pattern that is forming on the USD/JPY. The completion point for a valid shark pattern is between the 0.886 and the 1.13 fib. levels.

johneee3456

It is a possible bullish three drives pattern on the AUD/CAD. The completion point would be somewhere near the bottom of the channel.

johneee3456

There is a butterfly pattern forming on the GBP/AUD. It is currently at the 1.13 extension level. This is the minimum requirement for a butterfly, however for this one I would suggest entering based on the 4hr time frame if the price action shows signs of bearishness

johneee3456

A shark pattern has formed on the GBP/CHF. If price continues upwards I would think that the shark pattern will be invalid if the price continues past the 1.13 extension level. There was positive GBP data releases today.

johneee3456

Harmonic Butterfly Pattern.

johneee3456

If the pattern can complete and if price action exhibits signs of bullishness then I would look for a long trade. However the pair could continue even lower.

johneee3456

Harmonic Pattern Analysis 1hr Chart AB=CD.

johneee3456

Harmonic Pattern Analysis 1hr Chart AB=CD

johneee3456

There is a possible Shark pattern forming on the EUR/USD. The final leg has an AB=CD pattern giving confluence in the same area. If the Euro gets exhausted it would be possible for the pair to resume in the direction of the overall trend.

johneee3456

If the bat pattern and the AB=CD pattern can complete, then it would be possible for this pair to resume in the direction of the overall bearish trend. It is a bit of a longer term possibility but if the initial patterns can complete then I will be watching the price action very closely in this zone.

johneee3456

There is a bat pattern forming on the 4hr time frame and a possible deep crab forming on the 15min chart. Both of these patterns converge into the same as an ab=cd pattern. If the ab=cd pattern continues I will be looking at the 0.8050 for an alternate bat with an extension of the ab=cd.