AUDJPY is facing 50% retracement from nov low to high and a bearish Gartley pattern. Looking for completion near X.
Thursday, 28 November 2013
Wednesday, 27 November 2013
Small USDJPY bearish Cypher but potentially Double Tops
Not the nicest pattern out there but...
The Bat setups might be hinting a reduction in strength of EUR and CHF against CAD. These aren't the nicest pattern out there but they are still valid pattern. I would be careful as USDCAD seems like it is trying to break upwards.
Do you BAMM?
If you are an aggressive trader and can't sit still waiting for EURUSD to hit the bearish Bat entry, you may want to trade the BAMM - Bat Action Magnet Move for the CD leg. Trade with care.
Tuesday, 26 November 2013
NZDUSD A bullish Cypher after a shoulder injury
A previous head & shoulders pattern has turned sour and took me out slightly below the neckline, and a back-to-back counter-trend bullish Cypher has come to the entry price level. I would be cautious on this trade and protecting my capital comes first after it moves.
Monday, 25 November 2013
Sunday, 24 November 2013
USDCAD textbook shooting star at classic R on top of a bearish Gartley
Well it seems like we have got "The Convergence", textbook shooting star, classic Resistance, divergence in RSI and rejected by a bearish Gartley x. While I am fighting with my inner contrarian saying "what seems too good to be true usually is too good to be true", on the other hand I think USDCAD is an honest chap, when it displays its weakness it will usually go down (taking its own sweet time though). Having say that, I would not jump straight into it, rather I would wait for consolidation slightly below X and let some buyers' rage eases before considering to enter.
Two-way setups for EURUSD
I can't say these setups will corner EURUSD into one of the entries we've got here as there is still room for it to maneuver sideway until both entries got invalidated; I will be watching patiently if it falls into any of the entries next week.
EURNZD classic Gartley touched the entry
EURNZD bearish Gartley tested the entry last Friday, but chances are it may test entry again some time next week (given the weakness in NZD) if you still want to participate in the pattern, be patient.
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