AUDCAD Bigger Picture Trading OpportunityHi Freedom Traders,
hope you all had a great weekend.
If you are following my trading ideas you know that we are currently short in the AUDCAD due to a bearish cypher pattern completion.
For those who missed this trading opportunity there is a chance of a bat pattern completion at 1.0311. At around the same level I also spotted an AB = CD Pattern completion.
Two harmonic Patterns completing at the same price level offer us Freedom Traders a nice trading edge. Only then do we want to be active in the markets.
You find possible entry and exit levels for controlling risk and maximizing profits in the chart.
Happy Trading and a successful trading week!
Xabcd
EUR.USD - Bullish Bat Setup + TP & SLOn the EUR.USD Monthly chart we have a potential long opportunity's at the D leg completion of bullish Bat setup.
The price reversal zone on this pair is between .9077 & .8218
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Bat setup placed at the .382% and .618% retracement of the A to D move.
There is also an opportunity to look for extended targets at 1.4500
Stop loss would be placed below X leg structure support .
Target 1 - 1.1737
Target 2 - 1.3374
AUD/USD - Bullish Bat + ResistanceToday, we are looking at a bullish bat pattern on the 4H chart with the AUD/USD.
After the interest rate increase from the FOMC, price has reached C point.
With price getting close to the strong resistance zone, we can expect a reversal back down towards D point.
The measurements for a valid bat pattern are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886
EUR.USD - BEARISH BAT SETUP - 1.0623On the EUR.USD 15min chart we have a potential short opportunity at the D leg completion of bearish Bat setup.
The price reversal zone on this pair is between 1.0623 & 1.0630
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Bat setup placed at the .382% and .618% retracement of the C to D move.
There is also an opportunity to look for extended targets at around 1.0580
Stop loss would be placed above X leg structure resistance .
Target 1 - 1.0600
Target 2 - 1.0587
GBP.JPY - Bullish Bat Setup - 138.247On the GBP.JPY 4hr chart we have a potential long opportunity's at the D leg completion of bullish Bat setup.
The price reversal zone on this pair is between 138.247 & 136.459
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Bat setup placed at the .382% and .618% retracement of the A to D move.
There is also an opportunity to look for extended targets at 144.00
Stop loss would be placed below X leg structure support .
Target 1 - 140.759
Target 2 - 142.293
GBP.JPY - BULLISH CYPHER SETUP - 138.870On the GBP.JPY 1hr chart we have a potential long opportunity's at the D leg completion of bullish Cypher setup.
The price reversal zone on this pair is between 138.870 & 138.445
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets back into 140.200
Stop loss would be placed below X leg structure support.
Target 1 - 139.476
Target 2 - 139.847
GBP.CHF - Bearish Cypher Setup @ MarketOn the GBP.CHF 1hr chart we have a potential short opportunity at the D leg completion of bearish Cypher setup.
The price reversal zone on this pair is between 1.2375 & 1.2405
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets at around 1.2280
Stop loss would be placed above X leg structure resistance .
Target 1 - 1.2335
Target 2 - 1.2310
USD.CHF - x2 Bullish Pattern SetupsOn the USD.CHF 1hr chart we have 2 potential trade opportunity's at the D leg completion of bullish Bat & Bullish Cypher setup.
Bullish Cypher Setup ( Grey ) - D leg completion 1.0043
Target 1 - 1.0092
Target 2 - 1.0122
Bullish Bat Setup ( Blue ) - D leg completion 1.0082
Target 1 - 1.0116
Target 2 - 1.0137
EUR.JPY - BEARISH CYPHER SETUP - 122.238On the EUR.JPY 4hr chart we have a potential short opportunity at the D leg completion of bearish Cypher setup.
The price reversal zone on this pair is between 122.238 & 123.322
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets at around 123.00
Stop loss would be placed above X leg structure resistance .
Target 1 - 120.693
Target 2 - 119.768
GBP.USD - Bullish Bat Setup - 1.2062On the GBP.USD Daily chart we have a potential long opportunity's at the D leg completion of bullish Bat setup.
The price reversal zone on this pair is between 1.2062 & 1.1986
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Bat setup placed at the .382% and .618% retracement of the A to D move.
There is also an opportunity to look for extended targets at 1.2550
Stop loss would be placed below X leg structure support.
Target 1 - 1.2310
Target 2 - 1.2455
GBP.JPY - Bullish Bat Setup @ MarketOn the GBP.JPY 1hr chart we have a potential long opportunity's at the D leg completion of bullish Bat setup.
The price reversal zone on this pair is between 139.081 & 138.844
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Bat setup placed at the .382% and .618% retracement of the A to D move.
There is also an opportunity to look for extended targets at 140.40
Stop loss would be placed below X leg structure support .
Target 1 - 139.720
Target 2 - 140.114
EUR.CHF - BULLISH CYPHER SETUP - 1.0656On the EUR.CHF 1hr chart we have a potential long opportunity's at the D leg completion of bullish Cypher setup.
The price reversal zone on this pair is between 1.0656 & 1.0632
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets back into 1.0730
Stop loss would be placed below X leg structure support.
Target 1 - 1.0690
Target 2 - 1.0712
EUR.CAD - Bearish Cypher Setup @ MarketOn the EUR.CAD Daily chart we have a potential short opportunity at the D leg completion of bearish Cypher setup.
The price reversal zone on this pair is between 1.4220 & 1.4308
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets at around 1.3850
Stop loss would be placed above X leg structure resistance.
Target 1 - 1.4051
Target 2 - 1.3948
GBP.JPY - BEARISH BAT SETUP - 141.362On the GBP.JPY 1hr chart we have a potential short opportunity at the D leg completion of bearish Bat setup.
The price reversal zone on this pair is between 141.362 & 142.040
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Bat setup placed at the .382% and .618% retracement of the C to D move.
There is also an opportunity to look for extended targets at around 139.200
Stop loss would be placed above X leg structure resistance.
Target 1 - 140.391
Target 2 - 139.798
GBP.AUD - x2 Bearish Cypher Setups - 1.6583 & 1.6378On the GBP.AUD 4hr chart we 2 potential trade opportunity's at the D leg completion of Bearish Cypher setups.
Bearish Cypher Setup ( Blue ) - D leg completion 1.6583
Target 1 - 1.6357
Target 2 - 1.6216
Bearish Cypher Setup ( White ) - D leg completion 1.6378
Target 1 - 1.6231
Target 2 - 1.6140
Bearish Cypher Setup: Stop loss would be placed above X leg structure resistance.