After some indecision, last week a doji candle was formed in weekly major support level. We can now se on the daily chart some head and shoulders pattern indicating long for EU in the short term. We are expecting it to reach the 61.8 fib retracement on the green line, and then a possible downside breakout. This will probably stop at the -27% extension to then...
If we see price breaking the upper trendline this is the setup we could potentially see
On FX:GBPUSD , there is a great opportunity to go long. The market moves sideways, which formed the valid Cypher pattern. Thus, it gives a good Risk/Ratio. However, it is better to wait the market to be opened and see Monday reactions, not to rush a trade. T1 - 38.2% T2 -...
It looks like a valid AB=CD Short Formation anyone else thinks it's a good idea to go short?
Hello everyone. Been a while since I traded again. I've been holding back since Brexit and trying to avoid trading with the US elections going on but started looking at charts again last week. Today I am entering short on WTI Crude Oil. I have entered at the current price of 46.94$ with a stop loss of 50$. Please use your own judgment if you trade in agreement for...
Weekly close above 8271 crucial for further upmove.
HOPEFULLY THIS HELPS YOU GUYS! REMEMBER TO HIT THAT LIKE BUTTON! GIVE US A FOLLOW AND ASK ANY QUESTIONS IF NEEDED! THANKS TOM
XAUUSD Very longterm chart Trading wave 4, before reaching a new high (2284). Wave 5 possible $6000, but not in our lifetime. Fibo multiples for the new highs, maybe also apply for the lows chart: www.zerohedge.com www.zerohedge.com
Bouncing of the 141.4% Extension level on the H1, @weekly its targeting the 61.8% retracement. This is yet again another possible trend continuation area from the weekly view, ill will be watching closely for a possible inversed HH or an aggressive break of the previous HH and giving LL to find an good entry point. I will follow up this idea with posts. Im yet not...
Symmetrical triangle has been forming on the AUDNZD pair for 3 months now. 5 strong hit points . Look for a break to the upside at hit point 6 or a break to the downside at hit point 7 after hit 6. Profit targets are clearly indicated by green lines and are based on previous structure. The top profit target is unlikely but very hopeful if we get a break...
Bearish cypher to enter now. Strong bearish divergence on the RSI. Profit target is based on Fibonacci levels and is 15.44830 as an initial target and then 15.29297 as a second target. Stop loss is based on previous structure, which isn't great for this trade.
HERE IS ANOTHER EXAMPLE OF WHY I CALL THIS PATTERN A STAIR CASE OR STAIRS, WHICH ENDS WITH A U SHAPE. THE RATIOS ARE: 23.6-38% RETRACE BETWEEN A STRONG MOVE, THEN A 76 % FIB EXPANSION CONTINUATION OF THE MOVE WHICH THEN GOES INTO A 38% RETRACE. AS ALL TECHNICAL ANALYSIS, THERE ARE A BIT MORE MATHS INVOLVE BUT IT'S MOSTLY EXPERIMENTAL. THE TREND ANGLE FOR...
Follow the Trend, Trend is your Friend. That's the setup on FX:EURUSD 1H bars. The market makes Higher High and Higher Low. The last correction move will be finished soon and it is expected it will be retraced on red box. 1. The price is getting close to structure low, where the most of the buyers orders are placed. 2. Support level at 1.0908 (structure low) 3....
Bat pattern Setup!! Hello guys Errol here, We are looking at a possible bearish bat pattern here. We might also see a 3 Drives pattern if we get a completion at the top of the third leg which also lines up with previous structure. We aslo have some Ratio congfluence at the D leg completion where we are looking to get short. Very nice risk to reward situation...
There are several interpretation on longer term prospect for AUDUSD as some analyst of major banks ( technical-analysis.forexlive.com ), attempt to label the chart and I assume they know what they are talking about. However, I am not sure about the move from 2008 low to 2001 high labelled as 5 wave impulse and likewise suggesting that we are now in 5 wave decline...
A DAILY CLOSE ABOVE RANGE RESISTANCE INDICATES POTENTIAL FURTHER UPSIDE, A CLEAR BREAKOUT OF LONG TERM RANGE EXPOSES 1.2520's THE 150 DAY MA THAT WAS PREVIOUS RESISTANCE ON 4H CHART HAS BEEN BROKEN, A POTENTIAL MA CROSSOVER TO THE UPSIDE CANNOT BE RULED OUT EITHER - ADDING TO FURTHER CONFIRMATION OF UPSIDE POTENTIAL A RETEST OF PREVIOUS RESISTANCE TURNED SUPPORT...
Potential bat pattern completion at the 1.618 level as well as previous resistance. We are also in a descending channel and approaching resistance. When price reaches the 1.49000 area, hopefully we see some confirmation; maybe a doji followed by a lower close, or and bearish engulfing candle. I've gained some confluence by using the Fibonacci retracement tool,...