CHFJPY H1 Bearish Bat Pattern - 11 Oct 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 @85.050

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Posted in: Bat,Bearish,chfjpy

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 zone.

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Posted in: Bat,Bullish,USDCHF

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. In the meantime we can trade this as BAMM. I had add my long position with a target on the completion of the bearish bat pattern at 0.8810.

Entry : 0.8729
SL     : 0.8690

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Posted in: Bullish,EURGBP,Gartley

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 unable to hold the strong predominant uptrend.

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Posted in: AUDCAD,Bat,Bearish

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 CADCHF.

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Posted in: Bullish,CADCHF,Crab

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 a deadline for congress to raise debt ceiling in US. Although price action manage to rally higher from my exit point i'm satisfied with this trade. This trade produce me a nice fast 54 pips profit.

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Posted in: Bat,Bullish,NZDUSD

AUDUSD H1 Bullish Bat Pattern - 29 July 2011

29 July 2011

Bullish Bat Pattern On AUDUSD Hourly Chart.

This pattern is validate by 0.50 retracement of XA at B point and 0.886 retracement of AB at C point.

PRZ:
1.618BC @1.0955
0.886XA @1.0948
1.618AB=CD @1.0944

For a summerize,AUDUSD is in the uptrend for quite a long time. This pair just formed a double top of all time high at 1.1075-1.1080.
Convergence of all important fib level at 1.0940-1.0955 will determine if this pair will continues in the predominant uptrend or should reversal is coming.We also have a demand zone at 1.0930-1.0940 just below the PRZ. I will be looking to go long on this pair on the price action testing the PRZ. One thing to remember as B point is below 50% retracement of XA, this pattern could be a Crab pattern if this Bat pattern is fail. However for a Crab pattern PRZ will be more extreme as important fib level will be at 1.618XA which is at 1.0840.

UPDATE

I had enter my long position at 1.0950. Price action struggling challenging PRZ for a few hours. I had been stopout at 1.0915 after PRZ is failed to hold price action from short term downtrend. However sharp reversal could be seen after my stoploss been hit. This is another case of pure friday stoploss hunt for me. I had lost -35 pips in this trade.

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Posted in: AUDUSD,Bat,Bullish

EURCAD H1 Bullish Butterfly Pattern - 19 July 2011

19 July 2011

Bullish Butterfly Pattern On EURCAD Hourly Chart. 
This pattern is validate by 0.786 retracement of XA at B point and 0.618 retracement of AB at C point.

PRZ :
- 1.27AB=CD @1.3450.
- 1.27XA @ 1.3431.
- 2.24BC @ 1.3407.










UPDATE

Trade Details :
Entry : 1.3458
SL     : 1.3400 (58 pips)
Target 1 : 1.3795 (337 pips)
Target 2 : 1.4015 (557 pips)

If this trade play out nicely we had a very good risk reward ratio.

22 July 2011

Strong supply zone at 1.3630-1.3660. If this is break will open all the way to 1.3830.If weekly candle closed above this supply zone, a good sign to achieve my 1st target.









25 July 2011

EURCAD start this week with about 40 pips gap up on the Monday morning. This pair manage to rally untill 1.3700 which is strong physiological level. Still uncertainty in the EUR zone regarding greece issue capped this pair to break 1.3700. Truth is i'm hoping it could break 1.3700 level which had bring me a bad decision based on emotional feeling. Sharp decline in this pair once it failed to to break the 1.3700 level. 
I had closed 2/5 of my position on the 0.382 retracement of reversal trend which is at 1.3619 with 161 pips profit. Remaining position had been lock in profit at 1.3570 below demand zone.However if the demand zone at 1.3575-1.3620 is hold i will be looking to add long position for this pair.

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Posted in: Bullish,Butterfly,EURCAD

EURUSD H1 Bearish BAMM - 19 July 2011

19 July 2011

 BAMM - Bat Action Magnet Move.

Bullish bat is being formed on EURUSD H1 chart. As the B point is below 50% retracement of XA we could catch a trade on the CD leg. This is called as BAMM. Important note is as BAMM to be valid, B point must be less than 50% retacement of XA. Take profit will be at completion of D point which is at 0.886XA.
Price action must continue convincingly until D point is complete.If not, it is best to cover this position that tend to stall after the BAMM is triggered.

Trade Detail :
Entry : 1.4090
SL     : 1.4140 (50 pips)
Target : 1.3890 (200 pips)

UPDATE

Stopout at 1.4140 with -50 pips loss.

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Posted in: BAMM,Bearish,EURUSD

EURCAD H1 Bullish Crab Pattern - 7 July 2011

7 July 2011

Bullish Crab Pattern On EURCAD Hourly Chart.

This pattern is validate by 0.618 retracement of XA at B point and 0.382AB at C point.

PRZ is define by convergence of 1.618AB=CD and 3.618BC at 1.3700 and being complement by 1.618XA for lower limit in the PRZ.

Trade Details :
Entry : 1.3744
SL    : 1.3630 (114 pips)
Target 1 : 1.3850 (106 pips)
Target 2 : 1.3970 (226 pips)

I had entered this trade a little late as i'm waiting for price action to test 1.618XA. Price action manage to decline until 1.3660 about 15 pips from 1.618XA at the D point, then make a sharp reversal. Although in crab pattern it is critical for price action test all level in the PRZ zone, but for me 10-15 pips different is acceptable.Convergence of two important demand zone also had manage to capped price action from a complete test of PRZ. However, as the late execution in this trade, my SL is wider (106 pips) which make i'm only risk 1/3 of my normal lots.

8 July 2011

Exit all position at 1.3759 with 15 pips profit. Just don't like this trade because my entry is quite high. I will see if price action will make a second retest on the PRZ, maybe i can get nice entry there.

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Posted in: Bullish,Crab,EURCAD

EURGBP H1 Bullish Bat Pattern - 7 July 2011

7 July 2011

Bullish Bat Pattern On EURGBP Hourly Chart.

This pattern is validate by 0.382 retracement of XA at B point and 0.50AB at C point.

Convergence of 0.886XA and 3.618BC at 0.8890 define a PRZ for this pattern, while extended 1.618AB=CD at 0.8920 complement the PRZ.

Extra caution if this trade is execute as B point is below 0.382XA this could be an alternate bat pattern. Although 0.886XA is primary retracement in bat pattern, price action could decline to 1.13XA for alternate bat to valid.
11 July 2011

 Trade Details :
Entry 1 : 0.8885
Entry 2 : 0.8863
SL        : 0.8830
Target 1 : 0.8940
Target 2 : 0.9000








UPDATE

Stopout at 0.8830.

Entry 1 : -55 pips loss
Entry 2 : -33 pips loss
Total    : -88 pips loss

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Posted in: Bat,Bullish,EURGBP

GBPCHF H1 Bullish Bat Pattern - 7 July 2011

7 July 2011

Bullish Bat Pattern On GBPCHF Hourly Chart.

This pattern is validate by 0.382 retracement of XA at B point and 0.618AB at C point. One thing to remember as B point is below 0.50XA this pattern could be a crab if the bat is failed.

The convergence of 0.886XA,2.24BC and 1.618AB=CD at 1.3310 define a PRZ from predominant trend. Demand zone at 1.3260-1.3300 mark all time low for this pair at the moment. I will be update this pattern on my twitter. Hopefully can get nice trade here.

Monthly Bullish Crab

Looking at monthly chart we could see bullish crab is being formed. However this pattern is still far away from complete as PRZ is at 1.1490 area. But it is worth to know how far this pair possibly go in the predominant downtrend. It is amazed to see in this pattern start to formed at 1996 and takes 15 years to complete.

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Posted in: Bat,Bullish,GBPCHF

EURJPY H1 Bearish Bat - 5 July 2011

5 July 2011

Bearish Bat Pattern On EURJPY Hourly Chart.

This pattern is validate by 0.500 retracement of XA at B point and 0.886AB at C point.

PRZ :

• 0.886XA @117.39
• 1.618AB=CD @117.46
• 2.00BC @117.84

Price action had test one time on PRZ and manage to hold from predominant uptrend. Supply zone in 117.50-70 also provide a strong resistance.I had entered this trade last week but got stopout on breakeven.Refer my last week trade here.  I will wait until second test of PRZ is finish,if PRZ manage to hold the price action from predominant uptrend this should give an opportunity to go short for this pair with stoploss just above the suppy zone. Follow me on my twitter for the updates.

UPDATE

Trade Details:
Entry : 117.40
SL     : 117.85 (45 pips)
Target 1 : 116.10 (130 pips)
Target 2 : 115.10 (230 pips)

Confluence of supply zone and PRZ at 117.50-117.70 manage to hold price action from predominant uptrend. This trade if successful potential to return 1:5 risk reward ratio.



6 July 2011

Exit partial position at 116.20 with 120 pips profit. I had add another position on the breakout of demand zone (116.15-30) and trendline break.

Trade Details :
Entry 2 : 116.01
SL       : 116.45
TP       : 115.25




UPDATE

Exit all position at 115.60.
Entry 1 : 180 pips profit.
Entry 2 : 41 pips profit.

Total this trade : 120+180+41= 341 pips profit.







8 July 2011

Trade Followup

Great entry,great exit,good pips..if i can make like this everyday every trade ... :)

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Posted in: Bat,Bearish,EURJPY

EURUSD H1 Bearish Gartley - 4 July 2011

4 July 2011

Bearish Gartley On EURUSD Hourly Chart.

This pattern is validate by 0.618 retracement of XA at B point and 0.886 retracement of AB at C point. While PRZ is define by a convergence of 0.786XA at 1.4563 and 1.41BC at 1.4580. Although AB=CD in this pattern is at 1.4470 which is about 90 pips from 0.786XA, i believe 1.4580 area will provide a limit in PRZ.

Trade Details :
Entry : 1.4560
SL    : 1.4695 (135 pips)
Target 1 : 1.4380 (180 pips)
Target 2 : 1.4260 (300 pips)

Although this trade could produce 1:3 risk reward ratio i only entered 1/3 of my normal position as SL is quite big for me (135 pips). Maybe i will go for target 2 with trailing stop if this trade manage to achive target 1 level.


5 July 2011

Price action is testing demand zone at 1.4450-1.44770. SL move to breakeven.










6 July 2011

Price action challenging demand zone at 1.4410-30.Lock in profit at 1.4505.

Stopout at 1.4460 with 100 pips profit.












7 July 2011

Trade followup.

Too bad i had been stopout before target 1 been hit. Sooo hate just to watch 150+ pips just been washed away... !!!!!! grrrrrr !!!!!!.

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Posted in: Bearish,EURUSD,Gartley

USDJPY H1 Bearish Gartley Pattern

29 Jun 2011

Trade Details :
Entry : 81.16
SL     : 81.70 (54 pips)
Target 1 : 80.67 (49 pips)
Target 2 : 80.29 (87 pips)

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Posted in: Bearish,Butterfly,USDJPY

EURGBP H1 Bearish Butterfly Pattern

29 Jun 2011

Trade Details :
Entry : 0.8981
SL     : 0.9030 (49 pips)
Target 1 : 0.8951 (30 pips)
Target 2 : 0.8912 (69 pips)

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Posted in: Bearish,Butterfly,EURGBP

EURJPY H1 Bearish Bat Pattern

29 Jun 2011

Trade Details :
Entry : 116.97
SL     : 117.80 (83 pips)
Target 1 : 115.77 (120 pips)
Target 2 : 114.90 (207 pips)

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Posted in: Bat,Bearish,EURJPY

EURCAD M15 Bearish Bat Pattern

Bearish Bat Pattern On EURCAD M15 Chart.

• B point at 0.500 retracement of XA.
• C point at 0.707 retracement of AB.

PRZ Zone :

• 0.886XA at 1.3961.
• 1.618AB=CD at 1.3963.
• 2.24BC at 1.3956.

The convergence of all fibonacci retracement in the PRZ zone at 1.3960 area give a strong probability of a reversal from predominant uptrend in 15min chart.PRZ zone also had been supported by two supply zone at 1.3945-1.3955 and  1.3960-1.3975.

Trade Details :
Entry : 1.3958
SL     : 1.3985 (27 pips)
TP 1  : 1.3915 (43 pips)
TP 2  : 1.3885 (73 pips)

EURCAD manage to reverse until demand zone at 1.3920-1.3930 before bounce back to PRZ zone.My position had been stopout at 1.3985 with -27 pips loss.
However i had short again for this pair at 1.3962.
The reason i reenter a position after SL been hit in this pair is i believe this is a alternate bat pattern. As for alternate bat pattern to be valid, B point must be at 0.382XA. In this case, B point is 9 pips above 0.382XA.In alternate bat pattern price action will reach beyond 0.886XA to 1.13XA but must not exceed 1.13XA. Normally price action will not test 1.13XA.

Trade Details :
Entry : 1.3962
SL     : 1.4005 (43 pips)
BE    : 1.3930
TP    : 1.3880 (125 pips)

I will not scaling into exit in this trade. However SL will be moves to breakeven once price action reach 1.3930.

Stopout at breakeven (1.3962).

Total : -27 pips loss.

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CADJPY H1 Bearish Deep Crab

22 Jun 2011

Bearish Deep Crab Pattern On CADJPY Hourly Chart.
This pattern is validate by a 0.886 retracement of XA at B point and 0.500 retracement of AB at C point.Convergence of 1.618XA and 2.618BC at 82.70 limit the PRZ Zone.

Trade Details :
Entry 1 : 82.49
SL        : 83.10 (61 pips)
BE       : 82.10
TP       : 81.75 (74 pips)

Price action made a rally to 82.60 before start to stall. I had entered 2/3 of my position on entry 1 as price action not yet retest the PRZ Zone at 82.70. Entry 2 will be triggered if price action needed to retest 82.70 area. However this trade not produce good risk reward ratio. I will not be scaling to exit in this trade because TP 1 should be at 82.10 while TP 2 should be at 81.75. Despite that beakeven level is put on TP 1 at 82.10. By this i can get at least 1:1 risk reward ratio.

23 Jun 2011

Add 1/3 of my position on second retest of PRZ Zone.
Entry 2 : 82.66
SL point and TP same with Entry 1.

Exit Entry 2 at 82.72 with -6 pips loss. Price action start to show lacked of reversal strength.
Reduce SL for Entry 1 to 82.95 (46 pips).

Update : Exit Entry 1 at 82.92 with -43 pips loss.
Total : -49 pips loss




24 Jun 2011

Followup on CADJPY. 
Sharp reversal after stoploss had been hit and reach my TP level already. It is frustrating when i'm faced a position like this. Just to watch my position had been stopout and price action quickly reverse after that.

Any comment on this is welcome...

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Posted in: Bearish,CADJPY,Crab