SPX500USD: Bullish 5-0 at 0.618 RetraceThe SPX is trading within a Broadening Top near the Demand Line of the pattern, aligning with the 0.618 Retrace after developing a Bullish 5-0 Harmonic Wave Structure. If it plays out we should get a Higher High within the range, which could take us to the Fibonacci Extensions above the current highs.
Bullish 5-0
Bullish Flag Breakout and 5-0 Pattern Combo TradeI'm closely monitoring AUDCAD, and here's why:
1. Bullish Flag Channel Breakout on 4-hourly chart:
- AUDCAD has recently broken out of a Bullish Flag Channel on the 4-hourly chart.
- This breakout suggests a potential bullish move in the market.
2. 5-0 Pattern on 1-hourly chart at 0.8829:
- Waiting for a retracement, I'm eyeing the completion of a 5-0 Pattern at 0.8829 on the 1-hourly chart for a potential long opportunity.
- Utilizing a combo trade strategy to manage risk and enhance returns.
This combo trade involves combining the breakout from the Bullish Flag Channel with a harmonic pattern entry on a lower timeframe (1-hourly 5-0 pattern).
Feel free to share your insights and trade plans for AUDCAD in the comments below. Check the chart link for a visual representation.
Bullish 5-0 vs. Type2 Bearish Shark PatternIf you're navigating conflicting biases, here are two potential setups:
1. Bullish 5-0 Pattern at 149.96: Long Opportunity
- Engage in a long position based on the completion of the Bullish 5-0 pattern at 149.96.
- This pattern signals a bullish bias, providing an opportunity for traders expecting an upward move.
2. Type2 Bearish Shark Pattern at 150.67: Shorting Opportunity
- Consider a short position if the Type2 Bearish Shark Pattern completes at 150.67.
- This approach factors in the possibility of Fed rate cuts in June, potentially influencing a bearish move.
As a trader, it's essential to weigh the conflicting signals and align your strategy with your overarching market outlook. Feel free to share your preferences and insights on these setups.
WTICOUSD: Ranging at the 200-Week SMAMy overall sentiment for Oil remains Bearish, though my midterm sentiment has been Bullish, as I think WTICOUSD needs to come back up to revisit some of the highs above 100 and face one last rejection from those levels before I will be fully convinced of oil making significantly lower lows.
For the time being, Oil has dumped below last week's range but is now sitting at the 200-week SMA and at the old 50% retrace which could be where this Bearish Shark starts to act as a Bullish 5-0 which would demand an attempt of a Higher High. I think that it could attempt to hold out here as the RSI is oversold and the MACD is printing potential Hidden Bullish Divergence. My first target for oil, if this level holds is up, is at around $80, then $100, then $114, then $140-155. I will be looking for signs of weakness to potentially take profits at all of those levels on the way up. In the meantime, I will look at Oil Related Stocks: BP, BPT, DVN, IMPP and a few more. The XLE and XOP Exchange Traded Funds may provide a more general way to get exposure.
Navigating Contrasting Trends for Optimal Trading StrategiesThe 4-hourly chart showcases a compelling Bullish 5-0 Pattern retest accompanied by an RSI Divergence.
While direct engagement in the trade is an option, I'm personally inclined towards waiting for a Bullish Gartley Pattern retest around 186.39.
This approach significantly mitigates risk while still allowing for favorable profit potential—a strategy centered on lower risk for higher returns.
What are your thoughts or trade plans on this opportunity?
Feel free to share below!
Navigating Contrasting Trading OpportunitiesGBPUSD is currently indicating a Weaker Bull Trend . Here are potential strategies for different trading approaches:
Trend Traders :
Waiting for a Bullish 5-0 Pattern on the 4-hourly chart at 1.2334 might align with your strategy as it complements the ongoing bullish trend.
Counter-Trend Traders :
For those seeking a counter-trend opportunity, a shorting opportunity off the Bearish Shark Pattern retest at 1.2453 or the completion of a Bearish Gartley Pattern on the 1-hourly chart at 1.2478 could be of interest.
Each approach carries its risks and rewards. Ensure to align these strategies with your risk tolerance and trading plan. Best of luck with your trading decisions!
WTICO: Potential Bullish 5-0 Looking to Take USOIL Up to $105.30USOIL has recently retraced to the 0.382 from the PCZ of a Bearish Shark, but now it's looking to try and hold the 200 SMA and the 38.2-0.50% zone with Hidden Bullish PPO Divergence and an impending PPO Bullish Confirmation. If it does hold here, it could confirm a Potential Bullish 5-0 and if this 5-0 plays out, I think it could take USOIL above $100 and likely up to $105.30, as that would be the 61.8% retrace from high to low.
Trading within the 2 zonesThis could be interesting!
If you are looking to short, you have a Bearish Shark Pattern that has completed at 174.50, you could wait for a pull back off the lower timeframe, like the 15-minutes chart or the 8-range bar chart for a shorting opportunity.
Alternatively, you could wait for a buying opportunity on the 5-0pattern a 100pips later at 173.50.
Which trade would you take? And why?
comment down below.
Unveiling the Ultimate Trading Setup of the Week: Don't Miss OutAs some of you may recall, I've been seeking a buying opportunity on the AUDCAD for the past few weeks. My motivation for this is the Bullish 5-0 pattern setup that has formed on the Weekly Chart. I've been exploring various avenues to enter into this buying opportunity, and currently, two options are available.
Firstly, we can wait for a candlestick pattern trading setup to appear on the Bullish Gartley Pattern for a buying opportunity (left). Alternatively, a Bullish Deep Gartley Pattern on the 8 range bar chart (bottom right) could provide the trading setup for us to engage the trade.
My Bullish Bias RemainsUSDJPY Shorting Opportunity Looming, But My Bullish Bias Remains Strong
In the midst of a Type 2 Bearish Bat Pattern on the daily chart and a Bearish Shark Pattern on the 1-hourly chart, traders may be eyeing a shorting opportunity for the USDJPY. However, my bullish bias on this currency pair remains steadfast.
Rather than jumping on the bearish bandwagon, I am patiently waiting for a prime buying opportunity on the USDJPY. I'm closely monitoring a Bullish 5-0 pattern that could potentially complete at 134.71, presenting an ideal entry point for a long position. Stay tuned for further updates on this developing trade opportunity.
The Reason Behind My Strong Inclination to Buy AUDCADIf you have been keeping up with my previous analysis, you would have known that my strong interest in buying the AUDCAD is not a crazy obsession, but a well-informed decision based on market trends and patterns.
In fact, if you had engaged in the trade last week, you could have earned a substantial amount of profit, up to 139pips or approximately 1,390 USD per lot .
This week, the market will be testing the 5-0 pattern on the 1-hourly chart for the first time, which could potentially provide another opportunity to hop on this bullish trend.
By identifying the right confirmation pattern, you could take advantage of the Bullish 5-0 Pattern on the weekly chart and not miss out on this trade once again.
Don't underestimate the power of staying informed and being prepared to make strategic moves in the market.
WKHS: Bullish 5-0 on the Monthly with MACD Bullish CrossoverWKHS is at the PCZ of a Bullish Gartley on the Daily timeframe.
It's also at the PCZ of a much greater Potential Bullish 5-0 and Reciprocal AB=CD all while Bullishly Crossing Over on the MACD.
If things go as one would expect a 5-0 to go we will see WKHS try to target the $42 Area in an effort to atleast make a 100% Retrace.
NiftyHello & welcome to this analysis
In the 15m time frame a Bullish Harmonic 5-0 has been activated indicating the probability of 18075 as a possible level for now as long as it does not go below 17920.
Around 18075-18100 it has a trendline resistance, if that is broken then next resistance would be at 18250 and 18450
Good risk reward set up here
EURUSD-Weekly Market Analysis-Dec22,Wk2The Overall Trend of EURUSD is a Bullish Trend. There are a couple of ways you can engage in this trade.
Wait for market retest at 5-0Pattern at 1.0515 for a buying opportunity or a shorting opportunity at 1.0581 by using the Type2 Bearish Shark Pattern as a counter-trend trade that could form a combo trade with EURUSD Bearish Crab Pattern on the Daily Chart.
Potential Bullish 5-0 on the TOTAL Crypto MarketcapWe've had a bit of a pullback on TOTAL Crypto Marketcap but we are still well above where we started and are holding 5-0 Harmonic Support. If things go as planned we will continue higher from here and hit the first target of $1.2T and if we break above that, the final target of $1.7T
Here is a close up of the Shark and the 5-0 on the 4 Hour Timeframe:
AUDUSD - Bearish SharkWe have a potential Bearish Shark Pattern that is complete at 0.6466; for all trading patterns, a final chart confirmation is required.
What matters more to me in this setup is the 5-0Pattern completion. One of the side reasons is that the completion of the Bullish 5-0 Pattern happens within the Buy Zone.