Our winning patterns for week ending 2020-10-23


Broadening Wedge

AUDUSD Broadening Wedge on the 1H chart. Australian dollar was in downtrend for few days when broadening wedge price formation appeared on the chart.  USD index (2nd image) is on the bottom of S-V3 indicator.  AUD index price is on top of S-V3 indicator. Considering all 3 factors being in the right place, we opened Short position.

 

AUDUSD Broadning Wedge

USD Index

Bullish Gartley

EURUSD Bullish Gartley on the 1H chart. Classic harmonic pattern showed up on bottom of the S-V3 oscillator. You can see smaller timeframe line creating price divergence. Identical situation happened on the USD Index chart. With all informations being correct we opened Long position.

 

EURUSD_Bullish_Gartley

USD Index

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Resistance

GBPUSD Triangle Resistance on the 1H chart. This was over 400 pips trade. GBP was moving in a triangle with every next top lower than the previous one. That kind of movement shows shrinking presence of Buyers on the market.  S-V3 precisely signaling every incoming price drop. Quick look on USD index and we see an explicit confirmation of US dollar being ready to go up. Next few hours as predicted – GBP goes down and USD climbs up.

 

GBPUSD_Resistance_Triangle

USD Index

GBP Index

Resistance

 

USDCHF Resistance on the 1H chart. Here we see USD trying to break resistance. 4 days battle to go up ended up with quick and violent price drop. S-V3 indicator all the time correctly signalling weak US dollar position. Drawing resistance line helps to visualize the situation.  We have checked USD index price and noticed smaller timeframe signalling local uptrend exhaustion.  Once we placed Sell order suddenly price went up – classic stop loss collection. Our SL was high enough to withstand this fake uptrend. 2 hours later we TP and move to another trade.

 

USDCHF Resistance

USD index

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Resistance and rising wedge

 

EURUSD Resistance and Rising Wedge on the 1H chart. This one is very interesting as shows importance of excellent strategy and trading discipline. EURUSD price formed a rising wedge, which is a sign of incoming price drop. S-V3 marked few times trend exhaustion, but entering trade too early can be stressful.  It is a good habit to check how chart looks like from bigger perspective. 2nd image gives us a clue where to place resistance marker. Then we have a look on USD index and EUR index price and now we have a full picture of price movement. We know that EUR was in an uptrend for a while now, and it is only natural that it will fall, eventually. S-V3 shows EUR on top and USD on bottom so trend will reverse. We open short position and watch price dropping.

EURUSD_Resistance and rising wedge

Channel

 

GBPUSD channel on a 1H chart. This was a massive over 600 pips trade. Just like above, it is good to look at price action from a distance. We draw channel which revealed price movement regularity. Based on that information, we can predict that if GBP hit top of channel and USD index will bottom on S-V3, price drop is almost guaranteed. Confirmation from S-V3 give us green light to open short position. Now we sit and watch price falling.

GBPUSD Channel

Bearish Cypher

 

NZDUSD Bearish Cypher on a 1H chart. Last one this week was New Zealand dollar trade. We have noticed harmonic pattern, which was spot on with our S-V3 indicator. USD index was on the bottom of our oscillator and NZD on top, so we were expecting price drop. We opened short position for 300 pips with SL in place. 6 hours later, TP automatically closed our position with great profit.

NZDUSD Bearish Cypher

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