I still say this one could go either way, but the market is starting to show a clear bullish preference based on the ascending triangle we appear to be in. A break above recent highs would create a good long opportunity and a break below recent lows would break the bullish trend and confirm bearish targets outlined on the chart. I'm marking this idea as "long"...
GBPAUD has been a pair that we've been tracking for about a month now. For the past w\few weeks we've been waiting for the ascending triangle breakout and now that it's occurred the next chance to get long would be a retest of structure.
As the market has wiggled it's way down, we've set up a potential bullish Gartley pattern that can be used to take advantage...
A couple of observations:
1 The 1.618 extension with a prior 6.18 retracement seems to have slowed down the pair from moving higher.
2 A daily AB=CD pattern / 3 drives pattern have completed.
3 The pair recently broke out of ascending triangle on the 4H chart.
4 The Bollinger band shows extreme price movements on the 4H chart.
Looking for an entry setup with at...
Last night the RBA cut their growth estimate to 1.75%. After having recently cut their rate to 2.25%, this should be enough to weaken the AUD, creating selling pressure on this pair. My fundamental bias on AUDUSD is therefore bearish. If on top of that the NFP would come out favourable today, there would be one more reason to look to sell it. As always, I want to...
As I point out in the chart, MRK is in a very tight consolidation here. With the RSI holding inside of bullish territory after it's recent bounce off the 150EMA it has run into previous resistance. This resistance coincides with a sort of ascending triangle based on the higher-lows it has been making since March '14. This pattern comes to us after a long run up...
22/07/2014
Corning Inc (GLW)
On the daily graph we can see an ascending triangle in an uptrend. There were breakout @21.74 and we can see there is an flag near upper line of the ascending triange, which is bullish signal.
I'd bought at current market price with stop loss at $21,45.
Measured price target is approx. $22,80.
Extended price target is approx....
