We have sieved the best setups for the week ahead using Market Cycles for context and Harmonic patterns for entry.
Welcome to the 'Week Ahead' issue that is turning out to be a fortnightly publication rather than weekly at the moment so please accept my apologies.
However the main factor is we are able to see the intentions of the market through our analysis.
In our last blog back during the start of the month, we saw a theme of the Swiss CB lowering rates slightly, which gave us confirmation on a number of CHF pairs we are studying.
This week we are seeing the fruition of our analysis on USD pairs, in particular USD/CAD AUD/USD AND NZD/USD.
We are also seeing the potential beginnings of the start of a complete market cycle higher in AUD/CHF. NZD/CHF.
We really like how EUR/AUD, GBP/AUD and EUR/NZD are setting up for higher prices.
Lets Start…
EUR/NZD
From our last post, we were waiting for a HL to form within the second zone of consolidation.
Here’s a picture from eh last blog;
Since the last blog, we have entered this trade and have see a TP1. Price is back near our entry and we are looking to add to our position.
BEFORE
AFTER
This is zoomed in a little so you can see the HL (Higher Low) trading off the 50ema.
We are looking for BUY opportunities in this pair this week.
Reason being that we can identify where we are in the Market Cycle, and are recognising HH, HL which is the hall-marks of a trend.
EUR/AUD
EUR/AUD like EUR/NZD is starting to show us the same picture as EUR/NZD.
We can identify that price is within the second zone of consolidation expecting a move higher.
We have started to see HH, HL with this consolidation zone which has raised our interest.
We have taken a trade on this pair last week as a Gartley BUY Pattern was seen. See entry below;
We expect higher prices.
GBP/AUD
We are noticing a theme regarding GBP & EUR against Australasian pairs. Both GBP and EUR sit in the second market cycle expecting higher prices. We entered this pair last week on a harmonic AB=CD pattern with an AB=CD pattern within the CD leg. Trading with the trend.
Are you noticing that there is a clear context to these trades directionally….
AUD/USD
AUD/USD is a stunning setup. We are sat in the second zone of consolidation lower, and have been for a year. During this time, Market Participants have been engineering prices in a number of ways within this consolidation zone. We have see a Galley BUY pattern within this consolidation zone which was counter trend. However these are the reasons why its very important to take only trades that are in-line with the market cycle and not against otherwise the odds are 50/50;
What we can notice in this pair is that we are making a succession of lower Highs LH, and Las within the consolidation zone.
We can also see a change of character but are awaiting for a BOS.
Looks an amazing opportunity for lower prices and we are witting for an entry lower.
NZD/USD
This is another great candidate for a short opportunity next week.
This pair has evolved further than AUD/USD and may require an early entry.
We have seen the Change of character (CHoCH) and now the break of structure (BOS). This is a strong contender for shorts.
USD/CAD
It's hard to come up with superlatives describing these patterns so I’ll stop.
This is a cracker though, clearly showing us the context directionally for this trade.
We can see we are expecting higher prices. We sit within the second zone of consolidation expecting higher prices.
Price has broken the previous LH and we await a retest for entry. TOP TRADE!!
Thanks for reading!
MelonsTrade
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