Alternate Bat
GBPUSD Long: But The Drop Is Not CompleteHey Traders! Long night... Here is a quick update. This is a great example of why EW analysis will aid in your harmonic pattern entries. We know that the bearish impulse is not complete and the bullish reversal has not yet begun. This can be seen clearly by a series of bearish impulse waves that have not yet completed a 5-wave pattern. Therefore, it would not be wise to set a limit at the .886 level or 1.13 level to enter a bat or alternate bat pattern toward a bullish target... YET. Instead, wait for the (c) wave to complete followed by a 5 wave BULLISH impulse on a lower TF and enter on the pullback. Wait for the market to come to you...
I will provide updates as the tide rolls... Happy trading
GM
GBPCHF 1H, Short on Alt Bat BearishBearish Alt Bat. All 3 levels tested and showing a nice Type 1 reaction on both RSI and HSI.
Targets at AD 38.2% and 61.8%
SL at 1.3253
USDCAD AnalysisThe Shark I talked about is definitely finished right now.
The TL at the bottom seems not to hold.
On the daily chart, there are several possible patterns to note (sorry about the messy chart), the ratios are pretty nice
1. AB=CD TP 1.25380
2. Bat TP 1.25436 (pretty tight with AB=CD pattern, so there should be a strong PRZ around 1.2540)
3. Alt Bat TP 1.23662
4. Crab TP 1.20112
Currently it's testing the hagopian line. If this line is broken on a daily basis, I would short and take profit at 1.2540
Let's see what's going to happen
Alternative bat short 4HSetup
Entry: 0.7775
Stoploss: 0.7805
Target 1: 0.7696
Target 2: 0.7645
Target 3: 0.7507
DXY - USD IndexBearish Alternate Bat PRZ on the retest after initial break of channel.
Could be weakness here.
GBPCAD - 1h, 4hLarge Bearish Alternate Bat (Green) in play and now a small bearish 5-0 (Purple) about to be hit.
USDJPY - 1h, 4h ***Update***Bearish Gartley price reversal zone approaching in RED
Larger Alternate Bat Price reversal zone above in BLUE
In play - Daily Bullish ABCD, Weekly bullish Shark
My plan for AUDUSD in Week 21AUDUSD is on the downtrend so I am looking to short this wherever possible.
However there is a long alternate bat pattern coming at last week low of 0.7175 area. If this is triggered then we have a long trade for about 100 pips. This would like to a likely gartley pattern to short as shown in the chart.
Let's see how this pans out next week.
AUDUSD - 4hYellow - Bullish Shark, target 50% retracement
Green - Bullish crab
Blue - Bullish alternate bat
Blue box is price reversal zone
GBP/JPY - Bearish Alt BatQuick market analysis for GBP/JPY on a 4h chart as always, we have a potential bearish alt bat. As we all know this pair moves fast, at times 100+ pips per hour and this is one of the many reasons why it is my favourite pair to trade!
We have an overextended D point at 166.000 for one simple reason, the pair has been trending within a channel. I'm expecting price to make a turn for the downside between 165.000 to 166.000 but I would like to see a spike up to hit our D point! Overall this is shaping up to be a huge trading opportunity.
Want to learn more? Check out my Instagram for additional trading content: @lewglasgow
POTENTIAL TRADE SETUP - R/W 10+ MAYBE A GREAT TRADE! CONSERATIVEHello All Traders,
This may be a very nice setup! be conservative,
Is a 10+ Risk to Reward setup!
RSI ( OVERBOUGHT) -- Stoch (Flat OVERBOUGHT)
All the best in your trading!
CharlieFX
Long GBPAUD: TCT, Gartley + Bat + Alt. Bat + ButterflyGBPAUD has presented a bullish trend on the 15m chart. To enter long, 4 harmonic patterns may potentially align within a tight PRZ. The PRZ is confluent with the daily pivot which may provide support at that level. Entry is placed in the center of the PRZ with SL below Gartley X and target at .618CD.
Bullish Confluence:
Bullish Gartley
Bullish Bat
Bullish Alternate Bat
Bullish Butterfly
Trend Continuation
