Could be a definitive EW4 with RSI div. although wick below 50fib. still closing above. A beginning of EW5, perhaps? We'll see this week.
Hit the 161.8 of AB on this completed ABCD, 113 acting as res. from previous high. Both determined the 3rd wave, PA turned down for a ret. @50fib., broke out of the narrow descending channel towards completing wave 5.
EURUSD has completed an AB=CD move towards the down side thus giving a bullish signal with an excellent risk to reward ratio. The point 'D' impeccably lies on the weekly and daily support and resistance levels which should probably evidence the hard bounce back up in the following days. First scenario being the stronger the support levels, the higher the bounce...
Price rejected by structure and possible formation of an AB=CD pattern completing in the same zone of a bigger bullish Cypher.
Good R:R trade here we got. Stops & Targets are there pre-established but however with relevance of price action it has to be adjusted accordingly. I believe it will not drop more than 1.4180 handle but if it does than I m going to stay out of it & see the further development. Till it doesnt break 1.4180 we should look for longs.
A pullback above the 38.2 (T1) could lead to 61.8 (T2).
Everything is explained on the chart but to explain a little further: 1. Very, very clean AB=CD pattern setting up here. Couple more pips down and it closes perfectly. BC leg retraced to 0.382 fib on the dot. 2. There are 2 major, daily structure levels surrounding the current position. 3. The AB=CD pattern closes on exactly the 0.382 fib retracement of the last...
Long on bullish shark, possible ABCD completion slightly lower. Bullish butterfly for another long on new Lower Low.
Reasons for entry : - two big FR 23.6 and 38.2 - Strong structure Stop loss : - Below previous swing low (HL) Take profit : - 127.2% FE of the move - ABCD pattern complete at the same level - Major strong structure
If 579 holds I can see 3 waves up to 595 to touch the trend line then a sharp drop to 566/567 followed by a big move to the upside. ***Please note. After looking at other fractal patterns in the the charts I think we'll re-test 600-610 but will break down afterwards. Please see my latest chart. ***
USDCAD completed the bullish bat, ABCD and came to test the weekly TL (orange). Reversed, punched through 23.6 on the way to hit T1 @38.2 (1.087). Good structure res. @T1 with possible rally to T2 @1.10. Still hypothetical bearish shark could become realistic if and when PA breaks the 1.105 level. completing @1.12 for a short
After Kiwi has been hammered into ground a ret. should occur upon ABCD completion. Again, the PA came so close to 161.8 that I may regard as being reached. This 161.8ext "the golden ratio" should hold and let the PA recover to 38.2 ret. This long should provide some 114 green pips :)
Let me start of by saying that symmetry in Harmonic Patterns is not a requirement. It's simply fuel to the fire. It's all the more reason to believe that it'll successfully play out. The strongest patterns bounce off convoluted areas of harmonic ratios. In this example, not only do we have the Bat formation, but also an AB=CD within the Bat's CD leg. This could...
EURGBP completed AB=CD Pattern. It might potentially form a Bullish Cypher Patter. Trade both short & long .
This is a trade I will not be taking if it doesn't meet the test of time. After taking the time to reread Carney's books, he mentioned with emphasis the use of time in regards to harmonic completions. From Carney himself: "Although time considerations are not as significant as the factors of price, an understanding of when a setup should complete can optimize...
Time, Price,Pattern and momentum all indicate that the market is ready to go up, I think we by a trigger in the lower time frame we can enter to the market
I've noticed the price of gas has been declining for about three to four weeks. Come to see, Oil has been in a free fall for a month now. From the bottom in mid-April to the high in late-June, the 61.8% provided a technical level that prices could bounce off of. Even when the harmonic patterns aren't evident, the harmonic ratios are always close by dictating...