Reading the chart Getting a bigger picture of the pair really shows the failed bearish attempts after point B. After a failed push (B) of only 113% extension of O to X, price almost immediately reversed to the other direction, breaking the secondary bearish trendline. The 88.6% retracement of O to B gave some relief and give me a target 1 hit with the Shark886...
This is at interesting place.... 122.00-121.90 is good for buying, targeting minimum of 123.50 level. Also UJ, GJ, AJ all pointing towards coming JPY weakness before eventually JPY gets strong when UJ reaches @ 123.XX level.
Perfect harmonic AB=CD completion @ 0.7150 handle which also coincides with bearish harmonic Shark pattern completion. All pattern completion is supported by structure.
IF & only IF the price breaks below daily structural support @ 44.00 level then we can see price back @ 35.XX handle which will make it interesting for the buyers since the Bullish Shark pattern completes at that structural support level drawn from MONTHLY CHART . My expectation is that more than 60%-70% probability that price will break current support. But...
EURCHF has completed a possible ending diagonal and has made a reversal in a confluent PRZ. Wolfe Wave theory defines the sweet zone, or the area of a probable reversal, as the area between 1-3 and the 2-4 parallel extension from point 3. Similarly, EW theory suggests that wave 5 will often overshoot in an ending diagonal which may be followed by a swift and...
Though I am not new to Shark patterns, I would like to add some extra Zone to it obviously. Lets see how it runs. This pattern is still on test in my book. We might have a Shark pattern completion around the Supply area where we might see a price reversal. Time projected is 14 hours according to Time projection theory of 38.2.
My daily outlook on GBPCAD is bearish, but I see one more bounce occurring before bearish PA continues. A bullish shark will potentially be completing at point 4 in a parallel channel. Traders who are short this pair, like myself, may think about taking profit in the PRZ and re-entering after this move is completed. Alternatively, this may be traded as a...
short if follow the pattern divergence on indicators
EURAUD is completing a potential combination of 4 short harmonic patterns within a tight PRZ. In addition to bearish Crab, Bat, and Shark patterns an ideal AB=CD reciprocal ratio (.618/1.618) will be complete in the same area. Targets are placed at the .382 and .618 retracements of the CD leg. Confluence in the PRZ: 1. Bearish bat pattern completion 2. ...
USDCHF has completed a bearish shark at confluent reversal zone. Unhit weekly and daily pivots add pressure to the downside. The new unhit daily pivot aligns with .382cd and makes for a nice target level. SL above S/R provides a substantial R/R. A more aggressive T2 may be placed at .618CD. Confluence in the PRZ: 1. Bearish Shark Completion 2. 1.618bc 3....
Last week, I posted this Scenario #1 (see Related Ideas: "QUICK ANALYSIS: USDJPY: Scenario #1: Contracting Triangle Wave 4") . That scenario worked out PERFECTLY. as prices hit the upper TL before the FOMC and then declined all the way down to the lower TL for a nice and quick profit. But after prices had dropped through that triangle, there was a stop and...
I haven't posted anything on this pair in awhile even though I have been actively trading it so I thought I'd post something on it. Here is a trade I just took from 1.55950 when prices broke through 1.56000 level in a bearish price action. The PA is confirming the fact that the corrective phase may be over and the wave (C) complete. From here, I can draw a...
My previous post on this pair, I was targeting an end to a possible wave 4 with both a bat pattern and a shark pattern both possibly signaling an end to that wave 4 and a resumption of the main trend in a wave 5 down: Prices have now reached and filled both the shark and the bat patterns and also fulfilled my wave count as per that post. There is also a 1.618...
FX:AUDJPY BEARISH CYPHER: - IF completed, still validating the Shark point C Point B: 38.2% to 61.8% XA Point C: 127% to 141% ext XA Point D: 78.6% XC Target: TP1 38.2% CD TP2 61.8% CD BULLISH SHARK: Point B: 61.8% XA Point C: 113% to 161% AB Point D: 161% to 224% BC 88.6% to 113% XC Target: 38.2% to 100% CD Safe trades;
FX:AUDCAD I believe in a trend continuation, IF the price break resistance and ignore the Small Cypher pattern, i will keep search for LONG opportunities; Small cypher not yet completed (21 pips missing), stuck with previous support, now resistance, and the pressure it is almost tactile, furthermore, price action is printing lower highs and higher highs (check...
As per my recent post on this pair (see Related Ideas: " EURUSD: Building A Case For A SHORT Entry"), I am now entering SHORT on this pair after prices have completed the Bat pattern and displaying bearish price action. The upper trend line of the triangle pattern is not reached but is also not far away. Stop will go above that upper trend line giving this trade...
This isn't a trade....yet! But I just want to show you how I try to build a scenario for a trade. If things go as I think it may, I will be going SHORT on this pair shortly. However, this being Friday and the weekend coming up, it would need to be a trade that needs to be held over the weekend if taken. PATTERNS There is a POTENTIAL bearish bat that is very...
Wave 4? Huh? What the heck is this guy talking about? For those of you who have not been following me...that's probably what you are asking yourself right now. Now, I know there is much speculation and differences of opinions on what is happening and that's alright. There needs to be differing opinions and people both buying and selling in order for there to be...