This is an update on my original Long GBP/USD idea published on June 28th TECHNICALS: 1. - Price up-side confined by upper-descending trend-line resistance - Price tested this trend-line twice in the past month and formed rejection candles - However a 4h candlestick has now cleanly broken through the trendline 2. - Potential inverse H + S pattern formed...
This is a further update to my overall Ascending triangle pattern idea on the weekly charts. - Price has now broken the descending channel seen on the hourly chart and lower timeframes - 1250 is resistance (Psychological level) therefore wait for a break of this level too to fully confirm the breakout - 1260 (Psychological level) I believe could be the next...
This is an update on my original idea published on June 28th, price has now reached the level at which I was hoping a reversal would happen. ECHNICAL: 1. - Gold has been forming a possible Ascending Triangle pattern on the weekly chart since December 2015 - Price is now touching the ascending trend-line of the pattern for the 3rd time 2. - RSI is at the...
** UPDATE on original idea published June 25th TECHNICAL : 1. - Price broke out of trend-line on 27/06/2018 - Expecting retest of broken trendline since price has currently stalled 2. - Price may be forming a Beairsh H + S formation with the first shoulder and head having been completed. - Second shoulder may form within this week and hopefully result in a...
TECHNICALS: 1. - Possible H + S bearish reversal pattern forming within significant R/S zone - "Head" of pattern was formed after resistance was found at the 111 Psychological level - Second shoulder is currently forming with the shoulder neckline found @ 110.84 - Lower neckline of pattern @ 110.59 would need to be broken with bearish continuation to confirm...
TECHNICAL: 1. - Possible double bottom pattern forming - Bottom of pattern @ ~15.914 - Neckline of pattern @ ~ 16.12 - Support @ 15.914 would need to hold as well as neckline @ 16.12 to confirm the formation of this pattern 2. - Bullish RSI Divergence - Price has been in a consistent down-trend forming lower lows and lower highs since 18/06/2018 - However RSI...
TECHNICALS : 1. - Ascending triangle pattern forming after a large bearish move since 13/04/2018 - Coincides with Long term Support/Resistance zone 2. -Bullish inverted hammer candlestick formed on the last 30 minute candlestick before close on Friday 3. - Bullish RSI Divergence seen since 26/06/2018 - Price been making lower lows + lower highs since then...
- I updated an idea on Gold yesterday, price has not yet reached the level at which i was hoping a reversal would come. - However, price looks like it may be forming an inverse H + S bullish reversal pattern/ formed a double bottom. - If Double bottom, then price has already broken the neckline ( ~1249.2) , therefore I will wait for a retest of the...
TECHNICAL: Reason 1: -Possible descending wedge pattern forming indicating possible bullish reversal? Comments welcome on wether this actually is a descending wedge or not, my pattern trading needs some more work. Reason 2: -61.8 fib level coincides with bottom of descending wedge pattern, confluence? Reason 3: -61.8 fib and bottom of ascending wedge...
TECHNICAL: 1. - Gold has been forming a possible Ascending Triangle pattern on the weekly chart since December 2015 - Price is now close to touching the ascending trend-line of the pattern for the 3rd time 2. - RSI is nearing a level, at which the initial bullish reversal in the formation of the Ascending triangle pattern was seen - RSI also extremely oversold...
TECHNICAL: 1: - Head and shoulders reversal pattern forming - First shoulder formed on 21/06/2018 - "Head of pattern" formed after pin bar rejection candlestick last Friday - Second shoulder of pattern forming as a retracement of the rejection candlestick on Friday 2: - RSI showing extreme bearish divergence - Since 14/06/2018 - 25/06/2018 price has been in...
TECHNICAL Reason 1: - Price confined between two trend-lines since 30/05/2018 - Bullish move from 21/06/2018 now touched and formed a rejection candle off the top trend line resistance Reason 2: - 0.88 Physchological level acted as resistance, coinciding with the rejection of the trend-line Reason 3: - Price formed a higher low on 30/05/2018 - 14/06/2018,...
TECHNICAL: Reason 1: - Price been confined within an ascending channel since 10/11/2016 - Currently close to, but not yet touched the lower ascending trend-line Reason 2: - Within the ascending channel price finding support on a lower descending trend-line since 20/04/2018 - This trend-line intersects perfectly with the lower ascending trend-line of the...
*** "Bearish RSI divergence" should read "Bullish RSI divergence" TECHNICAL: Reason 1: - Long term Falling wedge, starting 20/11/2017 formed/forming - 3 touches of upper trend line, 4 touches of lower trend line with 2 consecutive rejection/false break candles on the 3rd touch (29/05/2018 + 30/05/2018) - Falling wedge is a bullish reversal pattern, the 2...
TECHNICAL: Reason 1: - Price moved up to 110.68 into a strong resistance/support zone - This zone corresponds with what could be the corresponding shoulder of a Head and Shoulder bearish reversal pattern. Reason 2: - Right shoulder of possible H+S coincides with 78.6 fib level of previous bearish move Reason 3: -Price broke below ascending trend-line from...
TECHNICALS: Reason 1: - Possible falling wedge forming on the 15/30/60 minute charts - 2 touches/rejections of upper trendline - Currently 2 touches however 3rd touch/rejection of lower trendline is occuring as I write this. Reason 2: - Bullish RSI divergence 4h/1h/30min/15min charts Reason 3: - 3rd touch/rejection of lower trend-line coincides with lower...
Please refer to my original analysis on gold here: () as this analysis follows on from that, TECHNICAL -4 hour candlestick false broke below the daily trend line acting as resistance closing above to form a hammer. -The subsequent 4h is currently also forming a hammer after breaking below the trendline. -If the daily candlestick closes within the trend, would...
TECHNICALS -Price has broken out of long term descending trend line resistance on lower timeframes -However on weekly chart price may be making a false breakout depending on the results of the trade war looming between china and the US. -61.8 fib intersects nicely with mentioned trendline resistance FUNDAMENTALS: -News has just been released Jun 18th 23:47...