Last week we took a look at the EURUSD & had shorts on the radar. Now that those shorts have played out, we're once again looking for the next opportunity to get long. In this video we'll look at a potential pullback trade with a large continuation potential as well as a lesson on what validates or invalidates certain double tops & bottoms for me. Please leave...
In this video I go over the Daily and 8 hour charts to review whats happened and what I am looking at for signs. After reviewing those 2 charts, I go over a 15 minute chart to see what stands out and then I draw some fibs to watch.
This video was meant to be a couple of minutes.... I just look at the last week of movement on 15 min chart using basic patterns and some fibs. Skip to last minute for a horrible recap.
The Butterfly Dimensions, Entry, Stop and Targets.
Using the (1m) Bullish Crab to enter the (1H) Gartley, the trade has reached 32R for a total of 5R overall profit secured. The Bulls need to retrace, Bearish Butterfly to assist, Hedging time.
SCALING IN SCALING OUT The Holy Grail? How to build a risk free position.
IOTA has had a really nice run up in price recently which has lead to it missing a number of central pivots (2 daily / 1 weekly) which lead me to take a closer look. When I did I saw that I dragged a fib and saw price react off the 78.6% level which looks to be like B in and ABCD of a Butterfly. The Butterfly could turn at 1.272 or 1.618 extension, once price...
Was it the pattern that caused the price drop yesterday or the news?? this is the question that is super interesting to me. If you plotted the fib on this chart and price made a B at or very near to 78.6% level and then we got a C between .382 & .236 we can then expect price to complete the butterfly and get up to 1.272 or 1.618 extension. In this case price...
We have a massive Bat pattern that has just completed on EURAUD. The problem is that it's completed on the Daily Time Frame. So in this video, we cover how you can use multiple time frames to reduce your risk and still take advantage of the potential move.
Both the BIG Bat & little butterfly are completing within 1cent of each other. Thown into the mix is a 1.618 ext at the same level. Additionally we have S1 a little lower for an additional reason for price to find significant support before heading higher. I will update on entry, stop & take profit levels once trade is live.
Update to earlier 2 x butterfly pattern which looked as if it was going to complete at 1.272 ext, it did not and stopped me out. But Im back in the game and ready to take advantage of the next logical place for price to turn higher... that being the 1.618 extension! Lets see how it goes... ill update once trade is live!