EUR/USD Daily Chart: Primary Trend Is Down and Most Recent Direction Is Also Down

AUD/USD M15 Chart: Potential Head and Shoulders Forming

AUD/USD H1 and M30 Charts: Bearish Divergence at Obvious Support and Resistance Zone

EUR/USD H4 and M30 Chart: Bullish Divergence and Flag Pattern

AUD/USD M30 Chart: Possible Short Squeeze

AUD/USD M30 Chart: Falling Wedge and Bullish Divergence

USD/JPY Daily & M15 Chart: Fibonacci Retracement and Resistance Turned Support

AUD/USD Daily & M15 Charts: Fibonacci Retracement Trade With the Overall Trend

GLP Daily Chart: Fibonacci Retracement 61.8%, Psychological Price Level, Double Bottom, Bullish Divergence

EURUSD M5 Chart: Double Top and Double Bottom, All in One Day

Vallianz Daily: Sharp Pull Back After Cup and Handle Breakout. Could it be a Shake Out?

EURJPY 5 Minute Chart: Sold on Trendline Break On RSI. Head & Shoulders Also Forming

Vallianz Daily Chart: Cup and Handle Pattern, Rare Pattern

CAD/JPY Daily Chart: Fibonacci Retracement 61.8% and Round Number 82.00 Support. Double Bottom Breakout. Going For 85.00

AUD/NZD Daily Chart: Fibonacci Retracement Level 61.8% (38.2%) and Round Number 1.2700 Resistance. Going for Rebound Short to 1.2500

EUR/AUD Daily Chart: Triangle Squeeze, Waiting For Breakout, Going For The 200SMA

GLP Daily: Potential Head & Shoulders Target At 50% Fibonacci Retracement Level

GLP Daily: Head & Shoulders Forming

Capitaland Monthly Chart: Break Above Downtrend Line and 10 Month SMA

Osim Monthly Chart: Break Above 10 Month SMA

EUR/USD H4 Head and Shoulders Forming

Potential Psychological Level Rebound Short Trade On AUD/USD 4-Hour Chart

Potential Short Trade On AUD/USD 4-Hour Chart @ 1.0700 Psychological Level

AUD/USD is currently retracing back up to the 1.0700 psychological level. There is a confluence of the 200, 100 and 55 Simple Moving Averages around that level too. The level also coincides with the 61.8% Fibonacci Retracement Level too.

Overall, the Aussie has turned bearish after breaking strongly below a long term rising trend line (see the trend line is green in the chart above).

The plan is to watch the 1.0700 handle on the 1-hour chart, looking for some kind of reversal chart patterns or any sign of loss of upward momentum.

Shorting Gold

Seasonal Patterns Short Trade on XAU/USD Daily Chart

Funny where trade ideas can come from. I received an e-mail from someone I have subscribed to receive seasonal pattern information some time back. In that e-mail, there was a trade idea to short Gold Futures from March 2 to March 25. The pattern worked for 14 out of 15 years.

You may be thinking that this is all hocus pocus, sales gimmick. But I see it as a potential opportunity.

With all opportunities, no matter where the idea comes from, always comes with a risk of loss. So as long as you are able to quantify that loss amount and are comfortable with it, you can take advantage of the opportunity.

I have learnt over time that before thinking of the potential profits, I must weigh the potential loss amount and design ways to limit it to an amount that I am reasonably comfortable with.

In any form of trading or investing, that is the only thing we can control... the loss amount. We can't command the market to give us a certain amount of profit, let alone tell it which direction to move just because we want it to go that way. All we are able to do is to limit our losses and when the market decides to give us profit, we go with it for as long as the market is willing to favor us.

Potential Bearish Butterfly Pattern On NZD/USD 4-Hour Chart.

Potential Bearish Butterfly On NZD/USD 4-Hour Chart

There is a potential bearish Butterfly pattern forming on the 4-hour chart of NZD/USD. This pattern is similar to the Gartley pattern. The biggest difference is that with the Gartley pattern, the D point does not pass above or below the X point.

In this particular setup, there is confluence of resistance coming from (1) A daily resistance zone, (2) The AB=CD completion point, (3) The top trend line of the Rising Channel and (4) The 161.8% Fibonacci Extension level of the BC leg.

The plan is to wait for the price to reach the Potential Reversal Zone (PRZ), approximately around point D and watch for a reversal pattern on a lower time frame like 1-hour to short the pair.

Potential Bearish Gartley Pattern On EUR/USD Daily Chart

Potential Bearish Gartley Forming On EUR/USD Daily Chart

There is a potential Bearish Gartley Pattern forming on the Daily Chart of EUR/USD. The potential reversal zone at Point D is the confluence of AB=CD, 61.8% fibonacci retracement level of the XA leg and also there is a potential support/resistance zone marked out in green. The 200 SMA is also approaching closer to the PRZ. The upper downtrend line of the down channel also coincides nicely with the PRZ.

The plan is to wait for price to reach the PRZ and then shift to the 4-Hour timeframe to watch for a reversal pattern to short the pair.

Head & Shoulders Pattern on EUR/USD 5-Minute Chart

EUR/USD 5-Minute Chart Take Profit After Head & Shoulders Pattern

UPDATE:

The Head & Shoulders neckline was finally broken and the price fell right after that. Decided to take profit of 21 pips as my gut was telling me that the price will probably retrace back upwards and I did not have the patience to wait out the retracement.

EUR/USD 5-Minute Chart Showing Head & Shoulders Pattern

Chart Patterns appear on all time frames, even on very short ones like the 5-Minute Chart. Here in the EUR/USD 5-Minute chart, an almost perfect Head & Shoulders reversal pattern is forming. Had to exercise patience to wait for the price to return to white horizontal trend lines to form the Right-Shoulder to preempt the completion of the pattern. Shorted once there was a sign of loss of momentum. Looking forward to the completion of the pattern when the neckline is broken.

There was a Rising Wedge pattern in this one too.

Potential Bullish Gartley Pattern Forming On the Daily GBP/USD Chart

Potential Bullish Gartley Pattern Forming On GBP/USD Daily Chart.

There is a potential Bullish Gartley Pattern forming on the Daily charts of GBP/USD. If price reverses at Point C (1.5861), there potentially three possible price levels where Point D may be. If AB=CD, then D1=1.5577. If 1.272AB=CD, then D2=1.5501. If 1.618AB=CD, then D3=1.5403. The pattern will become invalid if price breaks above Point A (1.5861)

Potential Bearish Gartley Forming On EUR/CAD H1 Chart

Potential Bearish Gartley Pattern Forming On EUR/CAD H1 Chart

Found another potential Bearish Gartley Pattern forming on the hourly chart of EUR/CAD. Waiting for price to reach point D (1.3160) and then watching for a reversal candlestick or chart pattern to short the pair. Stop loss will be placed above Point X (1.3200). Will placing target profit at point A (1.3020). A risk of approximately 60 pips for a potential reward of 140 pips.

Possible Bearish Gartley Forming On EUR/JPY Daily Charts

Possible Bearish Gartley On EUR/JPY Daily Chart

Spotted a possible Bearish Gartley forming on the EUR/JPY Daily Chart. The CD leg is now moving up. The potential reversal zone is around 108.00. This coincides with the 200 day Simple Moving Average, and also the Fibonacci 78.6% retracement level for the initial downtrend leg. The CD leg is also 1.618AB. Four incidents of confluence.

Missed Opportunities, Impatience and Loss

I have missed the past two opportunities where two classic Gartley Patterns appeared. Mainly because of work commitments have kept me busy and away from the market.

What little time I had, I have traded less than perfect setups... more out of frustration of missing out on the chance to trade those two opportunities.

There is an old saying. "Good Fortune Comes To Those Who Wait".

These patterns occur over and over again. It is just a matter of time before the next one shows up. When one waits and don't trade imperfect setups, one does not lose money and preserves capital. This is the one and only fact that is guaranteed in the market.

Bearish Gartley Pattern On EUR/USD H1 Charts

Bearish Gartley on EUR/USD H1 Chart

A Bearish Gartley Pattern (See the yellow trend lines outlining the pattern) found this week on the EUR/USD. The great thing about it is that it is with-the-trend. The overall trend has been down all week, and then the pair retraced upwards in a 3-wave correction pattern and ended at 78.6% Fibonacci retracement level (See the white Fibonacci Retracement tool). After the 3-Wave Correction, the pair continued on its downtrend.

Bullish Gartley Found On USD/CAD H4 Chart.

Bullish Gartley Pattern Found On USD/CAD H4 Chart

A completed Bullish Gartley Pattern found on the 4-Hour chart of USD/CAD. Please see the pattern shape marked out by the yellow trend lines. The pairs initially moved up before retracing back down in a classic AB=CD pattern or a 3-wave correction pattern. The correction ended after the pair retraced 78.6% of the initial uptrend. The pair then proceeded to move up after the correction (See the purple arrow)

EUR/JPY H4 Charts Showing Bearish Divergence

EUR/JPY Showing Bearish Divergence On MACD

Amid calls for expulsion of Greece from the EU, the 4 hour chart of EUR/JPY is showing Bearish Divergence on the MACD indicator. As price is making higher highs (See rising trend line on the price chart), the MACD peaks are getting lower (see the falling trend line on the MACD Indicator window). This is a clear sign that the uptrend momentum is losing steam.

Hidden (Bullish) & Regular Divergence (Bearish) On GBP/JPY 1 Hour Charts

Hidden (Bullish) & Regular (Bearish) Divergence On GBP/JPY 1 Hour Charts

Caught two types of divergence on the GBP/JPY hourly chart. Hidden (bullish) divergence seen with blue trendlines where the price shows higher lows, but the MACD was showing lower lows. This is a trend continuation signal.

Currently, a Bearish Regular divergence has formed, as shown by the white trendlines, the price is showing higher highs, but the MACD is showing lower highs. This is a trend reversal warning.

If price breaks below the white uptrend line, it's a possible short trade.