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  • #21
  • Apr 7, 2018 10:28am Apr 7, 2018 10:28am
So EU we’ve been looking at that triangle with false breakouts before it rises up, price again closed in that triangle again last week so in the short term I’m anticipating price reach the trendline of the triangle so up for the EU.
My pattern I found that could potentially play out for this is this descending broadening wedge again these patterns may fail the reason I’m looking at this is because the EU is in a range and keeps closing in the triangle once it’s broke out.
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  • #22
  • Apr 8, 2018 4:05am Apr 8, 2018 4:05am
AUDUSD-Long potential 3 valley set up
Target based on previous support turned resistance which is the green line
Heres what I’m looking at, price has previously been on a strong down trend as you can see looking left,
from there we had a range from 2016-2017 after breaking out in 2017 I classed this as my first valley as it was the first valley made after breaking through resistance of that range. We then had price creating another valley ie valley 2.
Now could this be the start of valley 3 could this range resistance that was held for a year now become support?
AUDUSD is in a perfect place to take an Agressive long to at least the peak of valley 2, should valley 2 peak be broken for me this will confirm my 3 rising valley pattern which would then start a strong uptrend.
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  • #23
  • Apr 8, 2018 4:58pm Apr 8, 2018 4:58pm
shouldn't the second wave go higher,if you wanted a double top that's more like it
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #24
  • Apr 8, 2018 5:20pm Apr 8, 2018 5:20pm
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  • #25
  • Edited 5:55pm Apr 8, 2018 5:39pm | Edited 5:55pm
Quoting Bones
shouldn't the second wave go higher,if you wanted a double top that's more like it {image} {image}
The second wave did push higher buddy not by much but but it still pushed higher
the first valley topped at 0.81268 and the second valley topped at 0.81357 granted it’s Loke a pip but it’s still higher, also some people use wicks others use the body of candles the body’s closed higher. (I do use wicks though)then looking left the big downtrend price will need to close that huge gap at some point
  • #26
  • Apr 8, 2018 5:41pm Apr 8, 2018 5:41pm
Quoting Bones
{image} {image}
The GU we called the bear flag, and caught a nice move down on that, the only thing is price wouldn’t usually have so much bullish strength back up which is why I say at test of the resistance level I was going on about before to make the triple top as I call it
  • #27
  • Edited 5:59pm Apr 8, 2018 5:45pm | Edited 5:59pm
Quoting Bones
shouldn't the second wave go higher,if you wanted a double top that's more like it {image} {image}
Not sure if this is a touch clearer the red is valley 1 blue is valley 2 which peaked a touch higher than valley 1 also had candle bodies close higher than valley 1 and pink is what I’m looking at to happen the black line is the neckline to break by valley 3 to confirm the pattern
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  • #28
  • Apr 8, 2018 5:53pm Apr 8, 2018 5:53pm
NZDJPY could this maybe form a Inverted Head and shoulders?? Guess we will see again this is me planning the trade SHOULD it do that it may just continue on up or not even form a HS pattern I’m just saying what potentially could happen and I’m ready, these are the daily charts guys so these take a while to play out and won’t always be correct. I just post what I’m seeing and i like to post my chart before the event. I’m not one to post after the event and draw the pattern in that’s pointless
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  • #29
  • Edited 10:06pm Apr 8, 2018 9:48pm | Edited 10:06pm
Quoting Neil0163
NZDJPY could this maybe form a Inverted Head and shoulders?? Guess we will see again this is me planning the trade SHOULD it do that it may just continue on up or not even form a HS pattern I’m just saying what potentially could happen and I’m ready, these are the daily charts guys so these take a while to play out and won’t always be correct. I just post what I’m seeing and i like to post my chart before the event. I’m not one to post after the event and draw the pattern in that’s pointless {image}
I’m not one to post after the event and draw the pattern in that’s pointless {image}


Good for you Neil,

that's what we all should be aiming 4
  • #30
  • Apr 9, 2018 1:42am Apr 9, 2018 1:42am
ok don't get me wrong I'm not a pattern expert , 10 pips on a daily on mine as good as equal
I'm looking at this pattern and this run should carry on up



Quoting Neil0163
{quote} Not sure if this is a touch clearer the red is valley 1 blue is valley 2 which peaked a touch higher than valley 1 also had candle bodies close higher than valley 1 and pink is what I’m looking at to happen the black line is the neckline to break by valley 3 to confirm the pattern {image}
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  • #31
  • Apr 9, 2018 2:10am Apr 9, 2018 2:10am
was never a flag
which is why it failed
you def cannot ignore price to make it
how long you traded patterns

Quoting Neil0163
Well the GU played out {image}
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  • #32
  • Apr 9, 2018 3:29am Apr 9, 2018 3:29am
Quoting Bones
was never a flag which is why it failed you def cannot ignore price to make it how long you traded patterns {quote} {image}
For me that was a bear flag, again these patterns fail as we both know that should have continued lower, I treated it as a bear flag and would have traded it as a bear flag however I didn’t trade last week due to NFP and patterns become unreliable like most strata because the market is so uncertain.
Now this pattern did fail as the “pole” Did not complete however if you still treated it look or a bear flag and took the agressive entry you’d have made pips. The thing that would have stopped me is because as soon as it broke the neckline, (the bottom of the pole) it just stalled that’s how I knew price would go opposite way.

The pattern played out how I wanted it too there was an impulsive move, flag correction which then broke and headed down just as a bear flag the only thing it didn’t reach its intended target. Again it was NFP so I stayed out exactly for that reason most set ups fail on NFP

i appreciate your input buddy it’s good to see how and why other people would or wouldn’t class it as a set up thankyou.
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  • #33
  • Apr 9, 2018 3:35am Apr 9, 2018 3:35am
Quoting Bones
ok don't get me wrong I'm not a pattern expert , 10 pips on a daily on mine as good as equal I'm looking at this pattern and this run should carry on up {quote} {image}
Yeah again it could take a while to play out because of it being a daily time frame, if it’s the AUDUSD we still need to make that third valley in my eyes which is why I reckon a good entry long right at the start of the third valley then you can sell short on that correction and jump back in to catch the break or load up on your buys on way down........even if it does fail there still a high probability it will try to create that third valley so you can still catch an up move
  • #34
  • Apr 9, 2018 3:48am Apr 9, 2018 3:48am
EURJPY
Break north with targets around 1.33
Ascending triangle formed and is about to break. Remember the safe way is too watch the break pull back then get in.
For an aggressive trade trade the second candle that closes out of the triangle this is on my radar.
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  • #35
  • Apr 9, 2018 4:06am Apr 9, 2018 4:06am
GJ update
3 rising valley playing out so far around 80 pips up if you took the break and pull back.
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  • #36
  • Apr 9, 2018 4:40am Apr 9, 2018 4:40am
UJ update
we had the break out followed by a pull back and now we are in that rising phase I’m holding on to this one but I have my doubts due to price grinding to get up one of two things will happen
it will either grind up to gather strength before a large bullish breakout or the smaller bear flag you see will play out.
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  • #37
  • Apr 9, 2018 4:44am Apr 9, 2018 4:44am
As I said before guys ideas and new patterns will develop sentiment will change along with price, I like to show things before it happens and if it happens then that’s good if my sentiment changes with price and I see a new pattern I’ll post it here. I’d rather you see the way I’m thinking and what I see rather than drawn a pattern on a chart that’s already played out and said “oh you would have made x amount of pips here” hindsight is a great thing but not in our world.
  • #38
  • Apr 9, 2018 5:35am Apr 9, 2018 5:35am
Quoting Dingoman-two
{quote} Hi Neil0163. Been playing this one for awhile now but on a lower time frame 15 min and missed the H&S Pattern it needs to break above the 107.085 area before i buy in again Screenshot 2018-04-05 14.53.26.jpg (https://www.forexfactory.com/attachment.php?attachmentid=2747924&stc=1&d=1522911458) {image}

Omy could this be Deja vu

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  • #39
  • Apr 9, 2018 6:29am Apr 9, 2018 6:29am
Quoting Dingoman-two
{quote} Omy could this be Deja vu {image}
Potential buddy it also gapped up slightly that gap will need to be closed however price is rounding as such so there is potential for a new pattern set up, if it was a bear flag this is how you could trade it.

beware though lower time frames do contain alotnof noise the more lower you go the less unreliable but that’s not to say they don’t work because they do the only thing is price is rounding at the top rather than channel up, so for me it would be a new pattern set up and I’d wait to see, maybe a inverted cup??? Or a scallop but it’s bearish
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  • #40
  • Apr 9, 2018 6:36am Apr 9, 2018 6:36am
Quoting Neil0163
{quote} Potential buddy it also gapped up slightly that gap will need to be closed however price is rounding as such so there is potential for a new pattern set up, if it was a bear flag this is how you could trade it. beware though lower time frames do contain alotnof noise the more lower you go the less unreliable but that’s not to say they don’t work because they do the only thing is price is rounding at the top rather than channel up, so for me it would be a new pattern set up and I’d wait to see, maybe a inverted cup??? Or a scallop but it’s...

Just waiting for the us markets to open my friend
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