BMFBOVESPA:IND1! https://www.tradingview.com/chart/EURUSD/7ELXyqZC-Harmonic-Patterns-Ratios-2016/ https://www.tradingview.com/chart/EURUSD/23Jop8vm-Cypher-Pattern-Engagement-Rules-Educational/ Note: 2h chart double Bottom at previous resistance now turned into support: https://www.tradingview.com/x/85RpZarJ/ Safe Trades;
For our brazilian friends out there in the market. Bovespa stocks market has just completed a Cypher Pattern on a daily chart. It is also possible to see a double top before it started the movement down. This might give us a signal that this market will retrace back into 382 Fib retracement (confluence with X point which is previous resistance level) and maybe ...
On daily chart, it's 3rd day outside from the upper Bollinger Band. It means a calling for a interesting correction. On hourly chart, an overbought is present on RSI & Stochastic. MACD & Histogram shows a little weakness. On hourly chart, its target in 10.75 from a triangle breakout has been reached.
Bovespa has completed a complex 5 wave structure to the downside and seems ready to break the montly correction. I'm expecting the completion of an ABC pattern to the upside to break the last trendline of that stucture. Bullish divergence on weekly. Look at the comment to see a snapshot for the monthly general structure.