EURUSD Short Idea (3 Drives, Harmonics, Fibonacci)

#EURUSD SHORT IDEA
EURUSD SHORT IDEA (3 Drives Harmonics, Fibonacci)
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How To Trade Forex Harmonic Patterns

Trade Forex Harmonic Patterns

AB=CD (50.0)

  1. C point retraces less than 50.0 of AB, CD will be equal to AB
  2. Do not trade an AB=CD pattern with less than 38.2 retracement
  3. Always use Double Top with divergence for entry.
  4. Target 1: 38.2 of AD leg, Target 2: 61.8 of AD leg

ABCD (Alternative ABCD) (50.0, 127.0, 1.414, 1.618.0)

  1. C point retraces more than 50 of AB, CD will be 1.27AB or 1.414AB or 1.618 AB
  2. Always use Double Top with divergence for entry.
  3. Target 1: 38.2 of AD leg, Target 2: 61.8 of AD leg

abcd

Gartley (61.8 XA, 61.8 AB, 127.2 AB) – (60-70% Profit Making Pattern)

  1. B must touch at least 61.8 of XA but must not touch (wick) or close beyond 6 of XA
  2. C touches at least 61.8 of AB but its wick cannot go beyond point A
  3. D point will be at 127.2 of AB in confluence with 78.6 of XA. 127.2 AB extension is more important.
  4. PRZ between 127.2 AB extension and point X
  5. Must have at least valid ABCD pattern
  6. Stop is 2 ATR below X
  7. Target 1: 38.2 of AD leg, Target 2: 61.8 of AD leg

gartley

Butterfly (78.6 XA, 38.2 AB, 127.2 AB) – (Low Profit Making Pattern)

  1. B retraces to at least 78.6 of XA but must not touch (wick) or close beyond 6 of XA
  2. C retraces to at least 38.2 of AB but its wick cannot go beyond point A
  3. D point will be at 127.2 of AB. D point must pass point X
  4. PRZ between 1.27 AB and 1.618 AB
  5. Stop is 2 ATR below previous structure, look left on the chart
  6. Target 1: 38.2 of AD leg, Target 2: 61.8 of AD leg

butterfly

Bat (50.0 XA, 61.8 AB, 161.8 AB) – (80% Profit Making Pattern)

  1. B touches at least 50.0 of XA but must not touch (wick) or close beyond 8 of XA
  2. C retraces to at least 61.8 of AB but its wick cannot go beyond point A
  3. D point will be at 161.8 of AB, 0.886 of XA
  4. Stop is 2 ATR below X
  5. Target 1: 38.2 of AD leg, Target 2: 61.8 of AD leg

bat pattern

Cypher (38.2 XA, 127.2 XA, 78.6 XC) – (80% Profit Making Pattern)

  1. B retraces to at least 38.2 of XA but must NOT close beyond 8 of XA
  2. C is at 111.3 of XA in the XA direction (must close above A), must not close above 1.414
  3. D must touch 78.6 of XC
  4. Stop is 2 ATR below X
  5. Target 1: 38.2 of AD leg, Target 2: 61.8 of AD leg

cypher pattern

 

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How Fibonacci Confluences Work In Forex Trading?

There is no doubt that markets move harmonically. Each move in any direction is somehow harmonically associated to some other move in past. As traders we should be able to recognise these moves and make use of them for our profits.

Fibonacci confluence is an area/zone where more than two Fibonacci levels are in close proximity with each other. This zone has high probability of trend reversal and hence can be traded. Fibonacci confluence along with structure create powerful trading opportunities.

For example take an example as below. The zone marked in red had multiple Fibonacci confluences making is perfect zone for an trend reversal entry.

It had:

  1. 3 Drives Pattern completion
  2. ABCD Pattern completion
  3. 1.272 Fibonacci extension from last retracement
  4. 1.414 Fibonacci extension from previous retracement
  5. 50.0 Fibonacci level of impulse leg

It turned out to be a winner as the trend reversed from this zone achieving all targets:

#GBPUSD LONG IDEAS (200 SMA, ABCD PATTERN, STRUCTURE).-2png

Most common and major Fibonacci levels are:

  • 38.2
  • 61.8
  • 78.6
  • 1.272
  • 1.618

Other minor Fibonacci levels are:

  • 23.6
  • 50.0
  • 88.6
  • 1.113
  • 1.414

However it is important to note that not all Forex pairs use just major levels of Fibonacci. They have their own personalities. For example EUR pairs such as EURUSD uses these levels more often

  • 23.6
  • 50.0
  • 88.6

In the example below a confluence of 127.2 extension of last retracement with 88.6 of impulse was good enough to give us completion of two targets.

#EURSD 15 MIN LONG-2

USDCHF also makes use of these levels.

So it crucial to understand their personalities and use their usual Fibonacci levels to find the confluence zones.

Good Luck.

-TradeYodha

 

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Disclaimer: This web site is just my financial trading log and is for educational purposes.
Please do your research, analysis and take your decisions. You must not rely on my actions or analysis.
Please see the Disclaimer page.
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Best Financial Stock/Forex Trading Training Videos

These are some of the best financial Stock/Forex trading training videos that has helped me in past. I thank to all posters of these great trading videos and grant whole credit to them for their contents.

5 Candlestick Patterns

Candlestick Breakout Patterns

Trading Trend Lines and Channels

Harmonic Ratio Trading

Forex Trading

Forex Trading: Risk/Reward, Hedging

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Disclaimer: This web site is just my financial trading log and is for educational purposes.
Please do your research, analysis and take your decisions. You must not rely on my actions or analysis.
Please see the Disclaimer page.
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#AUDNZD LONG IDEA (FIB, ABCD, STRUCTURE)


#AUDNZD Long Idea (Fib, ABCD, Structure) by TradeYodha on TradingView.com

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Disclaimer: This web site is just my financial trading log and is for educational purposes.
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#USDCHF LONG IDEA (HARMONICS)


#USDCHF Long Idea (Harmonics) by TradeYodha on TradingView.com

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#USDJPY HARMONICS SHORT IDEA (ABCD, CHANNEL)


#USDJPY Harmonics Short Idea (ABCD, Channel) by TradeYodha on TradingView.com

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USDJPY SHORT IDEA


USDJPY Shorts Idea by TradeYodha on TradingView.com

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Disclaimer: This web site is just my financial trading log and is for educational purposes.
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Please see the Disclaimer page.
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GBPUSD LONG-SHORT-LONG IDEA


GBPUSD Long-Short-Long Idea by TradeYodha on TradingView.com

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Disclaimer: This web site is just my financial trading log and is for educational purposes.
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Please see the Disclaimer page.
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EURCAD SELL AT MARKET IDEA


EURCAD Sell At Market Idea by TradeYodha on TradingView.com

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Leave a comment: I would love to hear your thoughts, suggestions on this topic. Please leave a comment.
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Disclaimer: This web site is just my financial trading log and is for educational purposes.
Please do your research, analysis and take your decisions. You must not rely on my actions or analysis.
Please see the Disclaimer page.
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