I was watching AUDJPY. I thought it was going to invalidate the Bearish Butterfly formation. We had just broken out from the trading range yesterday, and now it renews my interest in shorting the pair. I am watching closely and preparing to build a swing short position.
what do you see here?
Here is the…CHART!
Let’s have a look at the weekly chart of $EURGBP. We have a pennant forming, with ABCD and Bullish Butterfly formations within. It is just so beautiful. I see two possibilities here. First, we might start to have correction right now with 88 level as immediate resistance. Second, we might have another leg and approach 89 nice to the top of the pennant. Personally, I prefer the second option. But it doesn’t mean I am jumping in to Long EURGBP now.
I will be watching closely in daily and lower time frames for any possible signs of weakness.
What do you think?
Here is the CHART!
Just in case you are into this, there is an ABCD formation in hourly chart of EURGBP. I looking at 0.88 level to be broken for any further downside possibility.
Here is the Chart!
I mentioned in twitter yesterday, I was considering building a small long position of USDCAD. I thought it will be easier to share a chart here. We have completed a Bearish butterfly, and ABCD formation. Of course, there are other factors to be considered, from technical point of view, I am interested in keeping my eyes on this pair at the moment.
This is an idea, and I am still developing the thesis. Let’s see how it goes.
Just something for you to think about.
Here is the …. CHART!
Here is the 240-min chart of USDJPY that I am looking at. Do you see the pattern here?
Here is the chart.
I intend to confuse you with this chart. Have a look at EURUSD daily chart. I am looking at two potential targets. First is the completion of ABCD formation at around 1.4040 level, and second will be the completion of Bearish Butterfly formation at around 1.4187. Well, in the perfect formation, ABCD should be part of Bearish Butterfly formation, let’s see.
Seeking the harmony within.
Now, let’s get confused with the CHART.
