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

Trade Risk Profile: 0.75%

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

Trade Risk Profile: 0.70%

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

Trade Risk Profile: 0.75%

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

Trade Risk Profile: 0.85%

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

Trade Risk Profile: 0.50%

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

Trade Risk Profile: 0.70%

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.

Currency Pair: NZDCAD Entry Order: SELL stop @ 0.9431 Stop loss: 0.9511 Take profit: 0.9217

Trade Risk Profile: 0.50%

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

Trade Risk Profile: 0.65%

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!

Currency Pair: AUDJPY Entry Order: BUY stop @ 83.75 Stop loss: 83.15 Take profit: 86.18

Trade Risk Profile: 0.50%

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

Trade Risk Profile: 0.50%

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

Trade Risk Profile: 0.75%

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

Trade Risk Profile: 0.65%

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

Trade Risk Profile: 0.50%

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.

Currency Pair: NZDCAD Entry Order: SELL stop @ 0.9373 Stop loss: 0.9467 Take profit: 0.9118

Trade Risk Profile: 0.75%

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

Trade Risk Profile: 0.50%

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

Trade Risk Profile: 0.50%

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

Trade Risk Profile: 0.50%

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

Trade Risk Profile: 0.50%

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

Trade Risk Profile: 0.70%

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

Trade Risk Profile: 0.85%

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

Trade Risk Profile: 0.70%

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.

Currency Pair: AUDJPY Entry Order: BUY stop @ 0.8379 Stop loss: 0.8323 Take profit: 0.8587

Trade Risk Profile: 0.75%

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

Trade Risk Profile: 0.65%

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

Trade Risk Profile: 0.50%

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.

Pair: XAUUSD (spot Gold) Entry Order: BUY stop @ 1270.00 Stop loss: 1253.00 Take profit: 1318.00

Trade Risk Profile: 0.70%

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

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.

Pair: XAUUSD (spot Gold) Entry Order: BUY stop @ 1271.00 Stop loss: 1257.00 Take profit: 1318.00

Trade Risk Profile: 0.70%

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

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

Trade Risk Profile: 0.50%

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)