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.