We've got harmonics, a butterfly pattern and previous structure. Risk reward is good. Entry pretty much at market but patience will probably bring a the price higher (again) so hold on for the retouch of the structure or the butterfly completion (depends on your plan). RSI also nearly at overbought conditions. Stops above 1.25
Possible bearish Butterfly in Visa Confirmation if the price will drop below 268$
#AMZN #AMAZON Possible Short Idea (Bat Pattern Forming) Butterfly Pattern Fib confluence & 2 patterns overbought Do you own analysis but I hope this give you some useful ideas, don't forget to hit the like button :) Thanks
#KO #COCACOLA Long Idea Butterfly Pattern Do you own analysis but I hope this give you some useful ideas, don't forget to hit the like button :) Thanks
The USD gained in strength last Friday after a favourable jobs report. The CAD data has also been good the last few days and they sure beat expectations Friday with their employment data. But appreciation of the USD on the back of their jobs report proved too strong for the CAD and this pair gained 165 pips before giving 35 back before market close. The Canadian...
#USDJPY 4H Butterfly Pattern Short Opportunity
Bearish Butterfly scores on $GLD Visit www.themarketzone.net
Elite Zone setup in $XAUUSD Harmonics combination
I have been promoting this from the start it reached the 5310-5360 area look for a good place to short this dont let this getaway
@TradeYodha TradeYodha.com GBPUSD 4H Hour Short 1. Price action running in consolidation 2. ABCD pattern completes around 1.27 extension of AB (harmonic move) 3. Butterfly Pattern completes in the same area 4. 200 SMA is close to the area of possible short 5. RSI is reaching overbought but wait for confirmation and overbought scenario Plan your battle well in...
Since my last post about GLD, the trend line breakout prediction lead to a huge rally. The importance of the 114-116$ support zone has proved itself. Since than, I've traded a small harmonic pattern successfully and lately I've traded this Butterfly pattern (shown in the chart) on $XAUUSD. Not that it has reached first target level. $GLD could be heading...
long based on the completion of Bullish Bat and potential Bearish Butterfly. Butterfly has good confluence of fib ratios at the D. Usually on such confluence the price reverse exactly at the completion of pattern. Update: 2/2/15: Not valid any more . it gave profit only upto 38fib ratio
On Jan 26th EURUSD reached the lowest point for now since it's decline from 1.39s that started way back in the summer. Last weak this pair cought a little breather but now seems on it's way to test that level again. We have both a butterfly pattern and a bat pattern that complete in the same area. The Butterfly pattern around 1.1600 and the Bat pattern around...
The BoE will announce their interest rate decision on Thursday but a hike is not expected for now, with inflation well below its target and the committee standing at 9-0 on a “no hike”. The FED on the other hand stated last week that the timeline of any rate increase would depend on economic data. This was widely seen as somewhat hawkish and a rate hike by the FED...
Watch my educational video here: www.youtube.com Follow me on twitter: twitter.com I recorded this video this morning but then I had a suprising career changing opportunity (I got a chance to pitch my self to TDAmeritrae :) And that's why I am uploading this video late in the night. It's 2:00 am right now. I hope you enjoy the video and learn something new.
Pretty self explanatory as per the chart. Patterns and measured moves (equal distance, i.e AB=CD) are color coded to keep things simple on the chart as there is a lot here. There are plenty of retracements everywhere (the top is a big 50 I'll show on another chart). There are also plenty of smaller harmonic mpves but these are the main ones for our purpose going...
The C-leg in a Gartley harmonic pattern seems almost done and D-leg ready to go. In the very short term I'm bearish... but will become almost "all in" bullish with a decisive move off the bottom. If you cast a glance at my other chart on $USOIL l've made by using the Elliott Wave technique - you'll see that the 1.618 extension of wave 1 comes in around the ...