Pattern Trader - May 2017 - Trade Analysis, Trade …...Pattern Trader - May 2017 - Trade Analysis,...

Pattern Trader - May 2017 - Trade Analysis, Trade Set-ups and Profit (Loss)

Currency Pair: AUDJPY Entry Order: BUY stop @ 83.55 Stop loss: 82.89 Take profit: 85.97

Trade Risk Profile: 0.75%

Analysis: AUDJPY appears to have traced out an Inverted Head-and-Shoulders (bull) price pattern.

Penetration above the past two trading sessions high price, will likely lead to further momentum on the

upside.

Currency Pair: NZDCAD Entry Order: SELL stop @ 0.9353 Stop loss: 0.9597 Take profit: 0.9117


Analysis: NZDCAD appears to be forming a long-term Descending Wedge Triangle (bear) price pattern.

Penetration below the low of Friday's inside-day bar, should translate to (much) lower prices in the

near-term.

Currency Pair: EURGBP (Weekly) Entry Order: SELL stop @ 0.8401 Stop loss: 1.8541 Take profit: 0.7997


Analysis: EURGBP appears to be tracing out a Head-and-Shoulders (bear) price pattern. Confirmation of

this price pattern will be on a breach below the neckline at about the 0.8300 price level.

I think it is a good idea to try and Short this pair under the low of last week's Key reversal price action.

Pair: XAUUSD (spot Gold) Entry Order: SELL stop @ 1254.00 Stop loss: 1263.00 Take profit: 1211.00


Analysis: I am already Short XAUUSD (@ 1260.00 on 4/25). I favor adding to my position on a break

below the low of today's Key reversal bar.

The recent Key reversal at the top of a trading "channel", suggest prices could be head back to the

1230.00 support price level.

Currency Pair: AUDCHF Entry Order: SELL stop @ 0.7554 Stop loss: 0.7611 Take profit: 0.7224


Analysis: AUDCHF has formed a well-defined Head-and-Shoulders (bear) price pattern.

Penetration below the low of today's Key reversal bar, will very likely lead to (much) lower prices over

time.

Currency Pair: CADJPY Entry Order: BUY stop @ 82.24 Stop loss: 81.77 Take profit: 84.77


Analysis: CADJPY has formed an Ascending Triangle price pattern.

A break above the high of today's inside-day bar, could lead to further momentum on the upside.

Currency Pair: EURGBP Entry Order: SELL stop @ 0.8462 Stop loss: 0.8511 Take profit: 0.8287


Analysis: EURGBP appears to have formed, both a Double-Top and a Descending Wedge Triangle (bear)

price pattern. Confirmation of this price pattern will be on a breach below the neckline at about the

0.8300 price level.

Penetration below the low of Friday's Key reversal bar, will likely lead to (much) lower prices in the near-

term.



Analysis: NZDCAD appears to be tracing out a Descending Wedge Triangle (bear) price pattern.

Confirmation of this price pattern will be on a breach below the neckline at about the 0.9200 price level.

Penetration below the low of Friday's Key reversal bar, will likely lead to further price momentum to the

down-side.

Currency Pair: CADJPY (Weekly) Entry Order: BUY stop @ 82.81 Stop loss: 81.77 Take profit: 86.77


Analysis: CADJPY formed a Double-Bottom (bull) price pattern last August.

A break above the high of the recently formed trading "channel", will likely result in an explosion of

price....to the upside!



Analysis: The past two session Key reversal / inside-day combo should give good "cover" to those

probing the long-side of this pair.

Currency Pair: CHFJPY Entry Order: SELL stop @ 112.90 Stop loss: 113.51 Take profit: 110.18


Analysis: The past two session Key reversal / inside-day bar at (or near) a key resistance level, suggests

we could see a turn in prices (lower) from current levels.

Currency Pair: AUDCHF Entry Order: SELL Limit @ 0.7417 Stop loss: 0.7461 Take profit: 0.7224


Analysis: AUDCHF has formed a well-defined Head-and-Shoulders (bear) price pattern.

Friday's Key reversal bar looks like another "dagger in the heart" of this pair, which will very likely lead to

(much) lower prices over time.

I want to try and Short this pair on a small retracement (limit order).

Currency Pair: EURNZD (Weekly) Entry Order: BUY stop @ 1.5987 Stop loss: 1.5718 Take profit: 1.6587


Analysis: EURNZD has formed an Inverted Head-and-Shoulders (bull) price pattern.

In that the right "shoulder" is higher than the left - forming an ascending neckline - it is likely (over the

next few weeks - and months), this pair .....will explode (higher)!

Currency Pair: AUDNZD Entry Order: BUY stop @ 1.0791 Stop loss: 1.0751 Take profit: 1.1087


Analysis: AUDNZD recently snapped back to the break-out area of a Rectangle-Bottom (bull) price

pattern.

Penetration above today's inside-day bar should lead in further momentum to the upside.



Analysis: NZDCAD has formed a long-term Descending Wedge Triangle (bear) price pattern.

Penetration below the low of today's Key reversal bar will very likely lead to lower prices.

Currency Pair: AUDNZD Entry Order: BUY stop @ 1.0791 Stop loss: 1.0751 Take profit: 1.1087


Analysis: AUDNZD recently formed a Double-Bottom (bull) price pattern.

Penetration above today's Key reversal bar should lead in further momentum to the upside.

Risk Management: Both of today's trade set-ups are correlated to NZD. Trade accordingly.

Currency Pair: USDJPY Entry Order: SELL stop @ 111.02 Stop loss: 111.69 Take profit: 109.17


Analysis: USDJPY appears to have formed, both a Double-Top and a Descending Wedge Triangle (bear)

price patterns.

Penetration below the low of Friday's inside-day bar, could lead to further price erosion.

Currency Pair: GBPCAD (Weekly) Entry Order: SELL stop @ 1.7511 Stop loss: 1.7617 Take profit: 1.7211


Analysis: Ironically, I believe GBPCAD will go higher over the long-term.

However, I also believe this pair will have a set-back from the current resistance level.

Accordingly, it's a good bet, if we crack under the low of last week's Key reversal bar, lower prices should

ensue.

Pair: XAUUSD (spot Gold) Entry Order: BUY stop @ 1264.00 Stop loss: 1253.00 Take profit: 1293.00


Analysis: XAUUSD appears to be tracing out an Ascending Broadening Formation price pattern.

Should prices break above the high of the last two trading session inside-day bar(s) high price, I think

there is a good likelihood of further momentum to the upside.

Currency Pair: GBPJPY Entry Order: BUY stop @ 145.21 Stop loss: 144.11 Take profit: 149.18


Analysis: This pair has been climbing higher since last November.

Penetration above the high price of the recent Double-Bottom (bull) price pattern, and Key reversal

price action, will likely result in higher prices now...and over time...

Currency Pair: EURGBP Entry Order: SELL stop @ 0.8617 Stop loss: 0.8677 Take profit: 0.8357


Analysis: EURGBP appears to be forming a long-term Descending Wedge Triangle (bear) price pattern.

Confirmation of this price pattern will be on a breach below the neckline at about the 0.8300 price level.

Penetration below the low of today's Key reversal bar, will likely lead to (much) lower prices in the near-

term.

Pair: XAUUSD (spot Gold) Entry Order: SELL stop @ 1249.00 Stop loss: 1258.00 Take profit: 1211.00


Analysis: In my email yesterday, I indicated a Buy-stop entry order on this pair, which, gratefully, was

not triggered in the market.

As I explained yesterday, XAUUSD appears to be tracing out an Ascending Broadening Formation price

pattern, which carried with it the (possibility) of a break-out in either direction.

I know, with today's email it will appear as if I am wishy-washy in my analysis. Hey, I know I am fallible,

...but the market was always right.

Well by today's market Key reversal, it (now) feels like this pair will retrace back to the support line at

1220.00...and probably lower.



Analysis: AUDJPY appears to have formed a recent Double-Bottom (bull) price pattern.

Penetration above today’s (almost) inside-day bar, will (very) likely be followed by higher prices.

Currency Pair: USDCHF Entry Order: SELL stop @ 0.9725 Stop loss: 0.9777 Take profit: 0.9557


Analysis: USDCHF recently broke below the neckline of a Head-and-Shoulders (bear) price pattern.

Should we take out the low of today’s Key reversal bar, I think there will be tears (lower prices) for those

on the long-side of this pair.

Currency Pair: EURJPY (Weekly) Entry Order: SELL stop @ 124.01 Stop loss: 125.17 Take profit: 120.18


Analysis: EURJPY appears to have stalled (inside-week bar) at the apex (neckline) of a long-term Head-

and-Shoulders (bear) price pattern. Lower prices are likely to follow.




Should prices break above the high of Friday’s Key reversal bar(s) high price, there is a good chance of

further momentum to the upside.




Should prices break above the high of today’s inside-day bar, there is a good chance of further

momentum to the upside.

Currency Pair: NZDJPY Entry Order: SELL stop @ 78.24 Stop loss: 78.81 Take profit: 76.17


Analysis: NZDJPY has formed both, a long-term, and an intermediate-term Double-Top (bear) price

pattern.

Penetration below the low of today’s reversal bar, should result in further down-side price action.

Pattern Trader - May 2017 - Trade-by-Trade Profit (Loss)

Pattern Trader - May 2017 - Trade Analysis, Trade …...Pattern Trader - May 2017 - Trade Analysis,...

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