EURUSD has been declining from several weeks now and every one was trying to pick a bottom for a bear rally. Well let me try my version on it. I have applied Elliott Wave from the top of the pattern and I see a 5 Wave decline which means this is just a first round of corrections i.e Wave A. Once Wave A is complete we will see a retracement of 50 to 61.8% of the...
On the GBPUSD a Falling Wedge was drawn. In this case it could signal a bullish move. Bears are putting a lot of pressure on the cable because the rate hikes were postponed. From the technical perspective, though, a break above 1.6600 could trigger a rally to retest the trend line. A false breakout above the current resistance would be a negative signal. This is a...
The price of EURUSD almost touched one year low. A positive divergence has been drawn on the H4 and Daily time frame so we could expect a bounce from the current levels.
GJ is still an up for me now. I have short bias but I will be need to be patient and only consider short again when price reaches the circle, which has the pincer channels in place, together with f6 and divergence. Till then, still monitoring this setup.
RSI divergence and a MACD crossover suggest UK100 is heading for another downtrend. I am just waiting for an RSI cross below 50 to confirm the negative trend.
GBPJPY in a bearish trend. Making a retracement and putting in some long wicks against structural resistance. Resistance lines up with .382 .50 fib retracements from the last two swing highs. Bearish divergence. Going for a limit sell at 172.3
Bullish momentum divergence occurring at a major support level for CVX which also happens to be hitting the 100 SMA. A couple of candles of indecision make it look like CVX could be prime for a climb to its newly formed resistance level.
Hi kids, today's lesson is about the hidden bullish divergence.
USDJPY just hit the top of a descending triangle, and is putting up a lot of bearish divergence. Expecting prices to drop down back to last low. Setting SL right above structure resistance.
SWN bounced off support the past 2 days coming of a 'double bottom' Bat Pattern at major support which happens to also be precisely at the .618 retracement of the larger leg which is very visible on the weekly chart. This is all coupled with some very sizeable momentum divergence from the 'B' Leg swing point to where price has currently found some stabilization....
Ignore the MA Death Crossover that BA underwent just recently. BA at this very appealing support level should become a necessity to buy up for any fund holding it. There has been some noticeable bullish momentum divergence to boot and a look to the 4hr chart indicates that we should see a little pop in the coming days to keep us out of danger. Look for a retest...
Lots of bullish divergence building up, along with bullish wedge forming. Waiting to see if price breaks resistance before going long
The price continued to fall while the RSI (14) has drawn higher lows. Divergence plus 1.3400 (round number level) could trigger a correction. For the moment 1.3450 is my first target. I am still waiting for confirmation for the bounce. By the way, have you seen that the lows are closer to the channel's trend line? :)
GBP/USD felt to really important level if there's an chance that it will conitnue the uptrend that we might be just getting to the entry point at the moment. There's an confluence of green marked Demand zone, 50% Fibo retracement of last swing up (1,669-1,719), daily trend line and the previous smaller leg up low at 1,685 level (red circle). Todays down move was...
Just to note at start, that's obvious COUNTER trend scenario and it's considered to only be an corective move towards critical ressistances that lay around 1,349-1,351 levels. As long as 1,342 level holds we might be able to enter an long trade from current levels with 1,347-8 as an possible target just below the critical downtrend ressistance zone. As the main...
Preparing for the next uptrend with a nice RSI divergence from the on the 1 hour trend. The movement of Litecoin have been rather predictable so far with a triple bottom rise on 16th July to a H&S formation collapse on 19th July. Bots camping out at 8.455 area: imageshack.com It is now clear that $8.453 and $8.52 acts as a strong support for the current...
First trend line was broken, retested. resistance comes in at 1.4616, which will be the BE level. Enter as per the chart for a riskier entry, or wait for a retest of the second trend line (which may or may not happen). Trade is biased to the upside as long as Awesome oscillator continues to turn bullish. A break of the AO's trendline could indicate weakness. RR...
Break of down trend line with a bullish divergence to oscillator. Long entry on the high as divergence usually surprise with a sudden high or low taking out the stops. Target set to the most likely sr level. Cover to be on 50% of the move.