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Harmonicforex

EURHUF Harmonic PatternBeen watching the EURHUF for several months now. as the political/economic situation in the eastern part of Europe gets more and more complicated, could picture this Bullish Harmonic pattern forming against the Hungarian Forint. I know shorting the incomplete harmonic is not recommended, but I believe with a managed risk, you can trade any Idea. Of course, in case of this Harmonic Pattern is completed, I'll be looking for a good long setup toward the 420HUF.
Short
by gotwhatneeded
6
Follow-up on EURUSD (Bearish position possibility)Yesterday we theorize 2 possibilities for the market to go bearish on EURUSD. Now we have the first possibility invalidated, meaning that the price may look for our second possibility. We have to wait for the price to retest and it hasn't retested the resistance yet, so it could be a good opportunity to sell. I have also placed the reason why I think it will retest. There's an ideal bullish AB=CD pattern with 0.782 : 1.27 ratios. So the zone is very similar between 1.0703 and 1.0710. We just have to wait and we have 2 targets. The proper M pattern TP which is the 1.06419 and the other target will be the rising wedge target (remember that our analysis on the second possibility is also based on the rising wedge. For the moment, we discard the possibility 1, although we will save that zone as there was some ratios that can mean something in the future.
Short
by pinoso
Thoughts on EURUSD (Bearish possibilities)Hello again! I have this deep analysis on EURUSD on 2 possibilities to go short based in my analysis on trend analysis, chartism and mostly harmonic patterns. I'll explain the 2 scenarios I have and take notes for it to be possible. Possibily 1: Last week an ideal bullish AB=CD pattern with 0.618 : 1.618 ratios was formed and if it still goes up it could complete a shark pattern entry 2 that coincides with the ending if an AB=CD pattern with ratios 0.382 : 2.24 is also formed. The zone is by itself really harmonic, but we have to wait carefully and I'm expecting it to react at 1.08210. Although is looks like a really good zone to sell, there are 2 ways that this analysis could be invalidated (either the price falls under previous low formed or it is not formed until june 8th). Anything is posible in the market, so I recommend to watch out that zone in blue. Possibility 2: Remember that I shared a bearish idea because of a rising wedge and it has hit TP1, but because it hasn't gone up, it's still valid and that's possibility number 2. If the price falls under previous low (invalidating possibility 2), we can expect the price to retest at 1.0705 and go to the final TP on the rising wedge. I recommend you to wait for candlesticks confirmation and then sell. Now if it goes up and consolidates between and nothing interestingly happens, then discard both possibilities, I'll update if necessary. Do you have any other ideas? Let me know on the comments.
Short
by pinoso
1
Thoughts on GBPUSDBefore the details, there's something undeniable and is the fact that the price has been bullish for the time frame that we're analyzing and the it makes sense for that time frame for a head and shoulders to be formed. At this moment, there may be a possibility to go bearish because of the head and shulders. But we have to wait for the rest as shown in the analysis. The ideal retest I'd like to see is at 1.24820. We're just going to operate until the first TP. If the pattern is right, we will also see a bullish opportunity, but I'll take about later when we see market move downwards. But for starters, there could be an ideal AB=CD pattern at the first TP of the head and shoulders. There will be also an ideal Gartley pattern but that has exceded the 0.786 entry. It'll react at 0.886 in that case the entry price could be at 1.2383.
Short
by pinoso