Our winning patterns for week ending 2020-10-16
Top of channel
GBPUSD Top of Channel on 1H chart. With difficulties, GBP was constantly climbing during the past week. S-V3 on this chart is showing uptrend, so we waited for small divergence on slower timeframe and went short. Result – winning trade.
EURUSD Broadening Wedge on the 1H chart. Classic pattern, easy to spot and trade. We traded this broadening wedge 3 times. With S-V3 is easy to open position as confirmation is very clear.
GBPUSD Rising Wedge on the 1H chart. This pattern is just a continuation of above trade. We already stated that GBP was in uptrend and here is a proof and another opportunity to make money. After quick reversal GBP can’t break upwards so only direction is down. S-V3 is in the right position signaling incoming price drop.
USDJPY Bullish Butterfly on a 1H chart. Here we have harmonic pattern in downtrend. S-V3 showing upcoming trend reversal, so we opened Long position.
EURUSD Bullish Crab on the 1H chart. Harmonic pattern with massive profit potential. Price formation appeared on the end of trend. Lots of buyers on the market erupted price sky high. S-V3 is showing reversal with great precision.