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

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

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

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

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

EURUSD H1 Bearish Gartley Pattern

22 Jun 2011

Bearish Gartley on EURUSD Hourly Chart.

• B point at 0.618XA retracement.
• C point at 0.500AB retracement.

In this pattern, PRZ zone is define by a convergence of 0.786XA retracement and 1.41BC retracement at 1.4400. While AB=CD at 1.4450 complement the limit for the PRZ zone.

 This setup also posses pattern within a pattern formation.In 5M chart we could see a bearish deep crab pattern which formed in the CD leg of hourly bearish gartley.PRZ for 5M deep crab limit by 2.00BC at 1.4440.

Trade Details :
Entry 1 : 1.4400
SL        : 1.4450 (50 pips)
TP       : 1.4295 (105 pips)



 This trade will return at least 1:2 risk reward ratio.Remember that we still got 5M bearish deep crab which is not yet complete.I had enter 2/3 of my position on the retest of hourly bearish gartley leaving 1/3 position if price action needed to retest 5M bearish deep crab before reversal had been done.

UPDATE

1/3 of my position triggered on the retest of 5M deep bearish crab.

Trade Details :
Entry 2 : 1.4430
SL        : 1.4450 (20 pips)
TP       : 1.4210 (220 pips)






23 Jun 2011

Exit Entry 1 at 1.4320 with 82 pips profit. We have bullish ABCD on hourly chart and price action is testing demand zone at 1.4290-1.4320.

Deep Bullish Crab On M5 Chart. Price action is testing PRZ zone 1.4290-1.4300.

Exit Entry 2 at 1.4306 with 124 pips.

Total profit : 206 pips.

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Posted in: Bearish,Crab,EURUSD,Gartley

EURJPY H1 Bearish 5-0

22 Jun 2011

Bearish 5-0 Pattern On EURJPY Hourly Chart.

This pattern is continuation of bullish BAMM in the previous post. B point at 1.13 retracement of XA validate this pattern.

This Bearish 5-0 pattern completion projection is define by a convergence of 0.50 retracement of BC and reciprocal AB=CD at 115.70.

Trade Details :
Entry : 115.70
SL     : 116.10 (40 pips)
TP 1  : 114.90 (80 pips)
TP 2  : 114.40 (130 pips)




23 Jun 2011

Exit 2/3 position at 114.95 with 75 pip profit.

 Exit all position at 114.68 with 102 pips profit.

Total : 177 pips profit.

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Posted in: 5-0,Bearish,EURJPY

EURCAD H1 Bearish Bat Pattern

EURCAD H1 Bearish Bat Pattern

Bearish Bat Pattern On EURCAD Hourly Chart.

• B point at 0.500XA retracement.
• C point at 0.382AB retracement.

PRZ Zone:

• 0.886XA projection at 1.4064.
• 2.618BC projection at 1.4060.
• AB=CD at 1.4049.

PRZ Zone for bearish bat pattern is define by a convergence of 0.886XA projection and 2.618BC projection at 1.4060 and complement by AB=CD at 1.4050. There are also supply zone at 1.4060-1.4080 area. I will pay very attention on the retest of these suppy and PRZ zone. This trade should give at least 3:1 risk reward ratio.
One thing to remember as B point was at 0.500XA retracement,this pattern could complete at 0.886XA (Bat Pattern) or 1.618XA (Crab Pattern).

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Posted in: Bat,Bearish,EURCAD

USDCHF Bearish Gartley

Bearish Gartley formation on USDCHF H1 chart.

• B point @0.618XA retracement
• C point @0.786AB retracement

PRZ Zone :

• Convergence of 1.27XA and 1.27BC at 0.8500
• AB=CD at 0.8490

Convergence of all PRZ at 0.8500 could give best opportunity to short this pair at this area.

UPDATE

Price action quickly stalled after all PRZ is tested.This should give a signal an end of predominant uptrend.

Short on 0.8493.








UPDATE

At first 1.27XA and 1.27BC at 0.8500 manage to hold price action from predominant trend, but this not last for to long. In the next candlestick price action was able to break the PRZ and stay above there for a few hours. In my oponion this could give a signal for a failed pattern.

I had exit my position on the pullback with 1pip profit. Let see next if this pattern should failed or not.



UPDATE

Failed Pattern.

In my opinion price action should reverse at least  0.236AD for a valid reversal. Although most of the time after reach 0.236AD price action will retest again the PRZ the pattern still consider valid. Inability of price action in this setup to reach 0.236AD and quickly break the PRZ is a signal of a failed pattern.

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Posted in: Bearish,Gartley,USDCHF

AUDUSD Bearish Crab

Bearish Crab Pattern On AUDUSD H1 Chart

• B point @0.50XA
• C point @0.786AB

 PRZ Zone :

• 1.618XA retracement at 1.0730
• Extreme 3.618BC projection at 1.0710

Price over time give an extra confirmation of this pattern formation. Vertical line on chart is fibonacci time zones which calculate the time of completion pattern.Best time is between 0.382 to 1.00 fibonaci time zones.Although i'm prefer 1.00 time zones as usually there will be sharp reversal at this time.I hope price action will test 1.0730 before 1.00 time zone which could give best opportunity to short this pair.
UPDATE

 Mistake :
Afraid of missing the trade i had entered this position too early. There are two position i had entered,first is at 1.0672. Without waiting for a retest of PRZ i entered this trade which cost me in the early.Luckily on second retest PRZ manage to hold predominant trend and clear reversal could be seen.





UPDATE

Clean breakout on M5 demand zone.
Targeting on the next demand zone at 1.0570-1.0580.SL move to breakeven





UPDATE

1.0570-1.0580 demand zone on 5Min chart

Imbalance between buyer and seller in 1.0570-1.0580 demand zone.
Lock in profit above demand zone.

Breakout at 1.0570-1.0580 demand zone.  Look for a retest at 1.0525-1.0545 demand zone.
Nice Rally!!

Update : Exit position at 1.0575 with 120pip profit.

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Posted in: AUDUSD,Bearish,Crab

EURCHF Bearish Crab

EURCHF Bearish Crab pattern on H1 chart.
B point at 0.618XA retracement.While C point at 0.886AB retracement.

PRZ Zone is define by two important level of 1.618XA and 2.618BC retracement at 1.2220 area.

Convergence of this two key level could give a strong resistance to go short at 1.2220 area.

UPDATE

This trade quite difficult to follow as this week there are many news regarding euro zone especially greece bailout. I had short this pair first time at 1.2220. Price action reverse nicely from predominant trend with rejection to 1.2170. Unfortunately after that there got talk from ECB's Shark show some hawkish in the greece situation.Price action quickly respond to this hawkish talk which bring eurchf back to PRZ pivot . At this time my position had been take out with a break even.
Even though with the hawkish talk, price action was unable to show clear rejection of  PRZ pivot which bring me to reenter again at 1.2206.

UPDATE

Take a look at EURCHF M5 chart. There are demand zone on 1.2170-1.2185.For third times price action unable to breakout from this zone.On the 2nd test there was hawkish talk from ECB's Shark which bring back this pair to supply zone at 1.2210-1.2230.
I had closed 2/3 of my position with respect of the strong demand zone and to reduce my risk.I'm not quite confident with this pair right now.
Lot of uncertainty in the EUR Zone with all the focus is on greece bailout make this pair like roller coster today.

UPDATE

Exit EURCHF position at 1.2131 with a 75 pip profit. Don't like very much at the price action for EUR today.

Demand zone on M5 chart provide a good place for a profit taking.

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Posted in: Bearish,Crab,EURCHF