- Hitting top of trend line - Creating potential butterfly pattern - Possible e wave -> moving towards bottom of trend line
- Bounced off PRZ Zone - Creating a flag pattern meant to go upwards - TP short of the trend line.
- Waiting for Price to complete Butterfly Harmonic Pattern @ 1.27 level - Price will hit trend line if pattern completes, making for a strong buy opportunity
A little messy, however there are 2 harmonic patterns nearing completion. The more recent pattern will near completion for the BC extension, while the prior pattern will be completing the CD extension. Both are in similar areas, however there are quite a few pips risked between the PRZ of each pattern. Entries w/ SL posted for each pattern
- Extremely clear Butterfly Pattern - RSI close to oversold - Close to bottom of the long term trend line - Trend pattern expects a long position eventually.
- Near flawless Bat Pattern - Small Stop loss with 30+ pip gain opportunity - Hit the top of a long term trend line, with the expectation of a long term short.
- Hitting top inner trend line - Hitting top of bat pattern - In Supply/Demand Zone of larger harmonic Patter Est TP: 30-40 Pips
Waiting for Resistance levels to be hit
Multiple ways this trade can go, really solid harmonic pattern with high R/R on USDCAD
Looking for Price to hit .8835 to take a short to the bottom of that harmonic pattern. If the price bounces off the .88016 level or similar, I will wait for it to test the D level on the Gartley to take a long position.
Shorting FX:GBPJPY due to 1) Overbought stochastic at a +80 level 2) Bounce off long term trend line 3) Struggle to move past 50 EMA *** Careful as this movement is prior to london session
FX:EURGBP has been on a long term rise, however the the wedge is closing and the 40 EMA, 50 EMA, and the Ichimoku baseline have converged in what looks to be a ranging market. The price bounced off the bottom of the trend line and has created a wedge, which is heavily favoring a drop pattern back towards the long term trend line for a break, as well as the fact...
In a current down trend on FX:EURJPY , the price has hit a Demand are as well as the bottom of the trend line. I expect the demand area to be tested again before the break out. Waiting for confirmation of the breakout, with a SL right under the trend line.