From time to time we do analysis on a pair in the Forex market. We’ll post what we see in the market so that you can get another view into the markets.
This analysis is based on the Bounce Back strategy, with a view of the long term trade on AUDJPY.
ou’ve seen us talk about harmonic patterns and pitchforks before. In fact you might recall our USDCAD Harmonic from a few days ago. This time, however, it’s time to look at another overlapping harmonic, but at the same time the overlap is even more pronounced that before. We’re also going to look at the major ...
Are Pitchforks useful? Do they show us anything that might help us in our trading?
In the last AUDUSD post, I talked about the foreshadowing of a potential reversal. The image above is a 15 minute chart. The area highlighted in Yellow shows what happened after the last Idea was published through the end of the trading week.
Here is another example of Harmonic Patterns and Pitchforks, combined with a very strong ceiling of .7100 possibly foreshadowing a AUDUSD reversal.
This is an educational post on USDCAD showing how to use Harmonics and Pitchforks to help you forecast the pair in upcoming hours, days and weeks.
There has been some very nice respect on one of the two pitchforks drawn from the recent harmonic pattern.
A recent harmonic pattern combined with some pitchforks gives us some potential reversal zones in the coming weeks.
GBPNZD Analysis – 20190130
As was mentioned in the original instructional post for this setup, it was looking like an upward trend was about to take place. At the moment this post was written, the price was 1.9367. Looks like it went up!