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Fibs

$AUDCHF | High Probability Reversal @ 0.78228 | Fib Wolfe GeoHello Traders, Here I have utilized the the Wolfe Wave, Geo's Off-Set Rule, and Fib clusters. Wolfe Wave - Within the Wolfe's 1-2 and 2-3 points you must look out for an ab=cd pattern which we clearly have stated here. Points 3-4 and 4-5 are less likely to have such patterns. In fact, as a WW trader, you want the 4-5 path to be carved out as smoothly as possible. Which we also have here. The Wolfe is near completion, but this alone will not give us a complete analysis. Geo's Off-Set Rule - I have defined levels at 0.75558 and 0.71548 to clearly show where the Geo's Off-Set Targets lie. Rule 1 - If WW completes at point 5, we will look at the 1-4 line as the exit point. Rule 2 - If price hits 5', we will look at point 4, 0.71548, as the exit point. Rule 3 - If price hits 5" we will look at point 3, 0.75558, as the exit point. Fib Clusters - There are 2 Fibonacci Extensions I chose to display in this chart. The first one is the one on points 1 & 2. This gives us a maximum excursion point at which price will need to reach in order to complete the 1.618 ratio. The next Fibonacci Extension is used on the final leg down from 3-4 which gives us a 2.618 confluence zone with the previous Fib Extension. With that said, 0.78228 is the point price will need to reach in order to reverse its direction. If this pair moves quickly we may touch the 5' line defined, which would give us a high probability target of 0.71548 as an exit. If price does not reach the 5' line I still expect 0.71548 to remain a high probability target. Best, Chartistry
Short
by GWaves
2
GBPUSD Long on a potential Bat patternHere we try again with a new Bat pattern setup on the GBPUSD with trend, RSI going oversold soon, with minor trend. Lets hope it will finally hit our PRZ at 1,42870 Stops and targets are on the chart. I am very sorry for so many of my posts have gone invalid before they hit termination point, markets have been on some wild expansions in every direction this week. I will try get them out more close to our PRZ area. But some trades might miss to be posted if they get triggered off desk time. Kind Regards Thomas Jeff
Long
by UnknownUnicorn101425
2
AUDUSD: Multi SetupGood day everyone! We have a very nice 2h AUDUSD chart ready for the next week. 0.7243 is a key resistance level and 0.7010 is a key support level. In addition there is a very nice diagonal support (red trend line) which was broken recently. This is an overall view of the chart. Now let’s go in depth and build our setup. There is a very nice bullish Bat pattern which is almost completed. The completion level is 0.886 fibs of XA leg @0.7091 which is a nice support level as well if we look left. The red rectangle at this level is our PRZ (Potential Reversal Zone) where our buy limit order will be placed and stops will go about 15-20 pips below X. The best entry zone will be between 0.7110 and 0.7091. Our first target will be 0.382 Fibonacci of AD leg @0.7156. If we look this level carefully this level is a neckline of a double top, left top is A point and the right top is B point; so this will be our potential target 1. The second target is somewhere in 0.618 Fibonacci of AD leg 0.7196 and resist level 0.7156. Now comes a very interesting setup, where we are going to go short. The current setup is called 2618; which means the price has broken a neckline of double top, then it reversed and hit 0.618 fibs level which is a signal for bears to wake up. So we will do, our sell limit order will be placed at this reversal zone and stops will go above the key resistance level 0.7243. Our first target will be 0.7091 and the second target will be the key support level 0.7010. For additional confidence look at RSI, the price is at the OS (oversold) level, if we look left we see that this level acts like a support. Besides there was a divergence for double top pattern. In conclusion, this is our technical analyses for AUDUSD. Good luck and let’s see what the market does. -- www.rcpforex.com
by RCP
EURUSD: The Great ChartHello everyone! Very nice long opportunity on FX:EURUSD . The chart says everything. So, what we have here: 1. Diagonal structure trend line, which acts like a magnet, as we see the support has become resistance @1.1330 2. 1.1330 is the completion level of bearish bat pattern and ABCD pattern. 3. we grabbed some profit from this pattern trading and the price came at B level which is a nice support for price to go long. 4. 1.1033-1.0.85 is a very nice reversal zone, where we can place our buy limit orders to go long. 5 Target will be the resistance of the trend line with the confluence of fibs 1.618. 6. If the price will not break this level and makes double top, then comes another opportunity to go short. So, this is a brief analyses of the daily EURUSD chart. -- www.rcpforex.com
Long
by RCP
GBPJPY: Harmonic SetupHello traders! Today we have a very nice setup on FX:GBPJPY . As we see on the chart the market has broken the neckline of H&S, resistance is now a support; which means we are not in a bullish trend. Currently we have 3 potential harmonic pattern. 1. Big cypher 2. Little cypher 3. Bat According to my analyzes the best reversal zone is "PRZ 1" which is a completion levels of little cypher and bat patterns; plus OR zone. Besides there is an opportunity that price will reverse at the neckline level. -- Avto_T Financial Analyst www.rcpforex.com
Short
by RCP