EURUSD – the most popular forex instrument Why is it important to analyze EURUSD every week? Euro and Us dollar are the currencies of two most biggest economies in the world. Therefore, quite naturally, it becomes a necessity to dissect the EURUSD movements in order to achieve success in forex trading. If you are new at TradePips, please … Read more
The Butterfly pattern, some traders love it, some traders run from it. But if you have not traded it yet, you are missing out on some nice opportunities. Before I started digging into Elliott waves, Harmonic patterns were my playground. If there is one strategy that can teach you both patience and discipline in trading, it … Read more
Lets face it. Getting a sense of direction on any chart is not an easy task. But its not impossible. Specially, when we combine Elliott waves or ‘The Wave Principle’ with Harmonic patterns and Fibonacci ratios for example. Elliott waves theory (I believe its not a theory anymore, but a proven strategy) is an excellent … Read more
Bearish Dragon pattern can pick reversals and trendline breakouts effectively The bearish dragon that we have been waiting for so long, may have arrived at a fundamentally conflicting situation. With the USD interest rate increment announced only few trading days ago, in a fundamental point of view, there is more upside to the USDCAD. … Read more
ABCD or AB=CD is the most basic of all harmonic patterns. Harmonic patterns are defined by fibonacci retracement and extension ratios. Yes, in order to understand harmonics, its imperative that you have a deep understanding of fib ratios. If you are totally new to harmonic trading or trading in general for that matter please read … Read more
A bearish Shark pattern has been completed on USDCAD 4H timeframe. Shark is one of the most probable patterns as the completion D point naturally falls at a significant level. In this case D point is the 3rd retest of the 1.25620 level. The beauty is that even if price fails to reach the level and … Read more
CADJPY price is currently in a high-confluence reversal zone. There are several factors to suggest that we may expect a reversal of the current bullish trend. Here’s the top-down analysis. Weekly Chart Overall weekly trend is bullish. In the context of higher timeframes, price has moved only sideways in a rangebound market since 2013 (range zone marked … Read more
GBPUSD has been in a strong uptrend for the whole of June right from the start of the month. On hindsight the previous downtrend had retracements back and forth towards key fibonacci levels. Not that we could have traded them, because the fibonacci levels within a trend could be seen only after the trend … Read more
This is a short post about the history of harmonic trading and patterns. Why do these patterns appear and why are they so popular? Well, its a question like why do the pyramids exist and why would someone build such massive structures, and who did build them in the first place? In the same context, … Read more
