Tuesday, October 11, 2011
11 Oct 2011
Bearish Bat pattern on CHFJPY hourly chart. This pattern is validate by 38.2% retracement of XA at B point and 88.6% retracement of AB at C point.
PRZ :
- 0.886XA @85.631
- 2.24BC @85.510
- 1.618AB=CD @85....
Oct 11, 2011
Posted in: USDCHF H1 Bullish Bat Pattern - 11 Oct 2011
11 Oct 2011
Bullish Bat pattern on USDCHF hourly chart. This pattern is validate by 38.2% retracement of XA at B point and 78.6% retracement of AB at C point.
PRZ :
- 0.886XA @0.89620
- 2.24BC @0.89705
- 1.618AB=CD @0.90056.
Convergence of all important PRZ level at 0.8960-0.9005 give best opportunity to go long on this pair once the price action test the PRZ zo...
Aug 19, 2011
EURGBP H1 Bullish Gartley Pattern - 18 Aug 2011
18 Aug 2011
Bullish Gartley Pattern On EURGBP Hourly Chart.
This pattern is validate by 61.8% retracement of XA at B point and 61.8% retacement of AB at C point.
PRZ:
-0.786XA @0.8693
-AB=CD @0.8675
-1.618BC @0.8670
Convergence of all important fib retracement/projection at 0.8670-0.8690 provide a nice opportunity to go long on this pair. We also have demand zone at 0.8660-0.8680 which is in confluence with the PRZ. I will be looking to long this pair once price action finish testing all prz level. This setup at least should provide 1:4 risk reward ratio.
Trade Details :
Entry : 0.8670
SL : 0.8650 (20 pips)
Target 1 : 0.8749 (79 pips)
Target 2 : 0.8801 (131 pips)
23 Aug 2011
Possibly emerging bat pattern....
Aug 15, 2011
AUDCAD H1 Bearish Bat Pattern - 15 Aug 2011
15 Aug 2011
Bearish Bat Pattern On AUDCAD Hourly Chart.
This pattern is validate by 50% retracement of XA at B point and 61.8% retracement of AB at C point.
PRZ :
0.786XA @1.0403.
2.24BC @1.0392.
1.27AB=CD @1.0392.
The convergence of all important fibonacci at 1.0390-1.0400 should provide a strong resistance for AUDCAD from predominat uptrend.
If we are looking on daily chart for this pair, we could summerize a strong uptrend was started on May 2010 without hesitating of a reversal sign. However this pair formed a double top at 1.0550. I will be looking to short on this pair once price action is testing the PRZ. One thing to remember as the B point is below 50% retracement of XA, this pattern could formed to Crab pattern if PRZ...
Aug 2, 2011
CADCHF H1 Bullish Crab Pattern - 1 Aug 2011
1 Aug 2011
Bullish Deep Crab Pattern On CADCHF Hourly Chart.
This pattern is define by 88.6% retracement of XA at B point and 38.2% retracement of AB at C point.
PRZ :
1.27AB=CD @0.8160
1.618XA @0.8112
2.24BC @0.8092
However i think it is quite dangerous to jump in long position at the moment. Price action is testing the PRZ and was in all time low at 0.8070. I will be looking on the retest of the PRZ. This pair still in strong predominant downtrend.
4H Bearish Channel On CADC...
Jul 29, 2011
NZDUSD H1 Bullish Bat Pattern - 29 July 2011
29 July 2011
Bullish Bat Pattern On NZDUSD Hourly Chart.
This pattern is validate by 50% retracement of XA at B point and 88.6% retracement of AB at C point.
PRZ:
1.27AB=CD @0.8641.
1.618BC @0.8633.
0.886XA @0.8630.
UPDATE
Enter long position at 0.8635. This situation show a sharp reversal after price action testing the PRZ. I had exit my position at 0.8689. The reason is i just don't like hold my position on the last week of the month. As next week is new week of the month, there are many fundamental news which could easily change market sentiment very fast. Usually on 1st week of the month market tends to be indecisive and we could see wild swing as different surprises dominate market sentiment.On August 2 (Tuesday) also will be...