1.272XA, 2.00BC and 1.272AB = CD all are confluencing in a very tight range providing good resistance to the price.
Look how beautiful the market is showing us its intention.
A potential bearish butterfly is forming, wait for C to establish.
A potential bearish butterfly is forming. C must be confirmed. Wait for further conformation.
Im going to see if it develops to a bearish butterfly. If it reaches D i will prepare for my trading plan.
Bat Pattern Long along with some bullish momentum divergence for CCJ. We touch the 886 3 days ago, but today might be an opportunity to jump in at a good price if you missed the first touch. We saw increase volume at the 'XA' leg and lower volume through the maturity of the pattern with increased volume at the .886 level. I would like to wait for a retest of...
The daily bearish butterfly completed @89.64. The ret. can create 2 new bearish patterns on the H4, a cypher completing @89.4 and shark @89.6.
Will ECB allow EU to rise towards the 40 even handle? The fib. showing levels around 40 to be reached. Bullish trend intact as well as the ascending channel.
AUDJPY made a new high but struggling to cont. Although, trapped in a CZ still above the previous high @94.46, the bias is bullish against Yen. Short setups awaiting on completion of the: 1. AB-CD @97.46 2. Butterfly @97.7 3. Crab @100.3, and 4. Big bat @103.25
I posted the Daily chart a couple days ago; here is the weekly chart which is a bit clearer for people. Again, I'm looking to get long around 61.30s to not miss the move. I would expect a retest of the B point, but I will usually just stick with a 1:2 R/R and move on. Volume saw increase during ascent of the 'XA' leg and fell off during the decline and maturity...
Coming off 52 week highs for the identified 'XA' leg. 37.50 is clean support on both daily and weekly charts. There is also very nice bullish momentum divergence seen on the Mac-d histogram. Enter Long just in front of the 'D' point at 37.55 Stop Loss below 'X' point around 36.60 My initial Profit Target will be 38.75 which should see resistance with second...
**WT +144 Pips** An advanced butterfly pattern is very possible now that price has had a close above the B point. There is an abcd pattern that did not see a completion and with the give waterfall drops that have been going on in EURJPY a short would be the best play I can think of in this pair.
2 pip zone where both the bat and butterfly should complete.
3 possible short setups. 1. AB-CD completed @35.91 for the 1st short 2. cypher @36.28 3. butterfly @36.32 4. bat @36.48