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Harmonicpatternspotential

Calm before the storm GBPUSDAfter a long period of consolidation, GU has finally dropped. 4 hits to the high, the fourth hit being lower than the 3rd. I aspect some level of correction from the market to head towards the 61.8. I believe the MM would like to collect some money off any short sellers still holding and trick traders that it's going long, just for them to drop back down again. Price is in it's first push out of the 3 so I expect some level of correction even if it doesn't go all the way towards the 61.8. P.S. Happy New Year, we're back after a very long time.
Short
by BeaucoupPips
Utility Software (U) More than just a Bench PlayerInteresting Harmonic setup(s) for Utility Software (U) One Harmonic pattern is in progress (Bearish Shark) and one that is trying for the final leg of either a Bearish Bat or a Bearish Gartley pattern. We will watch this for the moment and see if the Bearish Shark hits the $30-32 area. Then we will reevaluate and if U resumes its upward trajectory to the $54 for the final D leg of the Bearish Bat/Gartley Harmonic Pattern. A solid breach of the XB trendline should be the key to the final leg on this 4 hour chart. Stay tuned ! Not Investment advice ... do your own due diligence. S. Note... Lots of potential movement tomorrow (Feb. 1) with a potential Fed rate increase ... be nimble and respect overall market trends.
NYSE:U
by Steve666
BANK NIFTYHello and welcome to this analysis Bank Nifty has activated a Bearish Harmonic Bat in daily time frame. The anticipated retracement levels are 38-50-62% of the upmove. The view would be negated if it sustains above 41530. As per Ichimoku Time and Wave Theory also we have a turn date activated. Until it sustains below 41530 it would remain weak. In case it breaks on the upside then the low of Friday October 28 would be considered as a stop loss for longs
NSE:BANKNIFTYShort
by Dinesh_C_Nagpal
3
Crude oil Short Term BearishThe idea here is about crude oil. I am short term bearish on crude oil due to following observation. 1. Cypher harmonic pattern completed on daily chart. The Cypher harmonic pattern is a technical analysis formation indicating a price-action reversal. The Cypher pattern, which can be either bullish or bearish, has five points (X, A, B, C, and D) and four legs (XA, AB, BC, and CD). Like any other harmonic pattern, the theory behind the Cypher chart pattern is that there is a strong correlation between Fibonacci ratios and price movements. The Cypher harmonic pattern has been historically proven to be a fairly reliable and accurate chart pattern. According to various studies, the pattern has an accuracy rate of around 70%. 2.Stochastic Oscillator The intersection of two lines is considered to be a signal that a reversal may be in the works, as it indicates a large shift in momentum from day to day. 3.Bollinger Bands 20 day moving average, bands at 2 standard deviations Looking at the lower band for profit target. 4.On-balance volume (OBV) OBV shows crowd sentiment that can predict a bullish or bearish outcome. OBV is on continuous decline. Last but not least 5. MA 200 over 50 aka Death cross 02 September 2022. The price was $95.23 Previous cross happened on 02 September 2020 MA 50 over 200 aka Golden cross The price was $41.40 I am aware that it is little late for the analysis, but i feel there is more to come. That's what they say "Something is better than nothing". Looking forward... The above is an Educational idea only and not any kind of financial or investment advice. So please do your own DD (Due Diligence) before any kind of investment. Do leave your valuable feedback & comments for any improvisations.
CAPITALCOM:OIL_CRUDEShort
by ShoibShafi
BTCUSDT - Short Idea for the Next WeekHi all, This is my first post so please take it easy on me! Here's a very rough idea of what I think may play out over the next few days. Share your thoughts and let me know if you have any ideas on how I can improve my TA/Harmonic usage! I believe the recent bullishness in BTC is a fakeout/relief due to yesterday's drop. I'm looking to short BTC once we hit the 19400-19800 range and expect it to fall to the 17300 - 17900 area. Good luck! Also, this is not financial advice, it's my first chart. lol.
Short
by CryptoBum999
1
Will AUDJPY be OVERSOLD?AUDJPY has been on a prolonged uptrend, I use the parallel channel to establish the current uptrend. Now it's a possibility price action may break the uptrend with a series of lower lows and lower highs, price action is also in an equilibrium state where it's possible the final hit may exceed the prior lows. It is not common for a retracement pattern to exceed a trend, so I expect to be wrong however, if the trend was to be broken, I have a significant turning point at the XA 88.6.
Short
by BeaucoupPips
Bullish ab = cd AUDJPYFrom the failed Bullish Butterfly pattern, I've realised an undercover bullish ab = cd hiding within the pattern. Looking at the the higher time frame, I see the pair is sticking with the predominate uptrend with some minor corrections along the way. I've started to back test a new strategy that has taken the harmonic approach to a world of unprecedented accuracy and precision. Some only utilise this system, where others may use difference concepts, nobody is wrong and each is to their own to determine how accurate and precise they can be. But it is imperative to use a multitude of systems to give higher chance of probability and accuracy to take a position.
Long
by BeaucoupPips
CHAMBAL FERTILIZERHello and welcome to this analysis The stock is at the PRZ of a Bullish Harmonic Cypher formed in Weekly time frame. A bounce/reversal till 340 to 375 is probable as long as it does not break 250. Risk Reward for the trade is v good at 1:3 Harmonic Trading Patterns consolidate and then give strong follow through of trends. Since this is based on weekly time frame, trading it via derivatives could be risky as it will be a time consuming one with pullbacks and sideway along the path till its target, hence, cash based entry is advisable.
NSE:CHAMBLFERTLong
by Dinesh_C_Nagpal
2