Just wanted to give you a quick heads up for the EURNZD pair on the 1 hour chart. This pair really shows many nice patterns after each other right now even though the last one did not complete in a nice way. But then once again you have the support/resistance levels as a safety net for your trades which worked out fine on the last trade giving us who took this trade a nice profit after all.
I found another perfect and i mean perfect cypher pattern (spot on the fib levels) in the end of february on this pair which i had not seen until now. Thereafter you have a bat pattern, cypher pattern and another bat pattern which is about to form.
Take a look at the pair yourself and draw some patterns, nice practice since itâs moving in a harmonic way and the overall trend is sideways which as i mentioned earlier produces good patterns and is good for us pattern traders.
I donât think i will trade this pair anymore until i have switched to FXCM. The broker i am using now has a 20 pip spread on this pair.:o
Good catch. I see that NZDUSD has 11 pips spread. GBPNZD has 33 pips spread and EURNZD has 26 pips spread. Those are the spread before the market close. That is huge. EURJPY also have 7.6 pip spread, pretty high though
On the EURGBP 30 min chart we have a possible bullish cypher pattern even though the one huge spike after my C could be used as an alternative C point. But it wouldnât change anything in the trade either way.
And then we have this annoying bat pattern on the USDCAD daily chart. I have been in this trade for days now and price still is up there at the 0.886 level. Doesnât seem like it wants to go anywhere and this trade will take a lot of patience from me. It never really hit the 0.886 level in the first place so we may see a real test of the level before price finally goes soutgh, or it will just shoot straight through north. We will see what happens.
I am in the most stressful period in my job right now so donât expect me to be very active in here for the next 2-3 months. But iâll try to pop in a few times a week and post what i see in the market if you want me to.
Have a wonderful week guys and good luck with your trades!
there is yet another gartley forming on EUR/NZD H1, this is a mini one, comprising of the last 12-13 bars. i think D will hit (or fake out) within the hour. iâve decided to risk it and my limit order is in place.
same ;), looking forward to a retest of this lvlâŚ
if now price move down, my feelings will be something like if i was at the airport, buying my ticket, at the moment my plane takes off with Diablo inside, saying good bye with his handâŚ
D hit, (although it was an hour or two later than i predicted), but unfortunately it landed a whisker above the 50% line so it didnât hit my Buy order. Had I looked for convergences before placing my buy order there would have been a little clue for me that it might do this, but alas i didnât and subsequently missed out on this trade.
oh well,⌠no point crying about it. next time iâll be ready
Hello, everyone!
I hope you all had a great weekend and I also wish you a splendid week ahead!
I was looking at AUD JPY H4(or H2) and I saw a very nice convergence at 1.27 of XA, also hitting a respected trend line from H8 and I was thinking to go in with a sell:
And then I was noticed a forming a bearish Gartley at EUR AUD and since the price is also in a MSRT zone I was thinking that is a good chance to go from C to D and so I am against AUD on both plans:
Nice plane paw! Definitely looking like a nice trade and only 70 pips from the D point. Thanks for the trading idea. The spread of 10 pips is also no problem since itâs on a daily chart.
Nice Bat. Iâm going to trade that one. Sell order at .9810, stop above X limit at the .382 of AD. Better than 1:2 R:R, potential 165 pip win. Like it.
Had a nice EURUSD bat pattern on the 15 min chart that gave me 22 pips earlier today. And then the AUDUSD pair stole -13 pips from me on a bat pattern that got destroyed by some news on the 15 min chart as well.
But hey, still +7 pips until now and the GBPCHF pattern just got started.
