Market has exploded to the upside for the past few days and now contained under the resistance zone. Waiting for the Gartley pattern to complete near the resistance zone to short (counter-trend trade). If price violates C leg, will monitor for potential cypher pattern.
Bull Gartley pattern completed in H4.
Price is close to complete the bear Gartley pattern. Will wait for further confirmation - RSI overbought - before pulling the trigger. If price didn't complete the Gartley pattern, then there is a potential bull bat pattern.
Short order triggered as the pattern completed during Asian session. There is a warning that price may continue upward further as the pattern was completed with a long wide candle indicating bullish momentum.
Price setting up nicely to complete a bear bat pattern or a bull cypher pattern in H4.
Bearish bat pattern completed with RSI in overbought territory. This may not work out as the candle which completed the pattern is a long wide candle, indicating price may go further up. Let's see how this turn out.
There are two potential Gartley patterns forming in H4. One bearish, the other bullish. Let's see which order triggered first.
A potential nice bearish Gartley pattern is in progress in H4.
Bearish cypher pattern in progress (mid-way to completion). May not complete today but worthwhile to watch for the rest of the week.
Bearish bat pattern is forming in H4 in line with the bearish trend in H4.
This pair is currently stuck in consolidation range between 0.9330 and 0.9440. A cypher pattern (bearish) seems to be forming in H4. Will market continue to grind up to complete the pattern before selling off near resistance zone? Or will market sell off to re-test support zone 0.9330 again (and breaks it?)? Let's see.
Just wondering whether this is a valid pattern in the making. Anyway it is a good location to look for long near support zone 1.4360.
Pin or kangaroo tail rejected support zone 1.3500. RSI showing bullish divergence. Market has started moving up during Asian session. Waiting for around 50% retracement back to support zone before going long. Next resistance zone around 1.3575.
AB=CD bullish pattern completed in H4. Completion of D coincides with support zone if we zoomed out to the daily. If market can rally from here to around 138.70, that will signal completion of another pattern - cypher (bearish).
Market is approaching support zone around 172.40. Interesting to see the price action at that zone next week. If market breaks and close below that zone, the butterfly pattern will be more likely to get completed. But before that, will market bounce at support zone 172.40?
In daily chart, bearish bat pattern is nearing completion. RSI is not far from overbought territory. Will be watching closely on this next week.