Using Fibonacci Inversions, I found that there may be a false breakout of the AUDUSD where it is going to lightly break out of the higher low, but will dip down into the 161.8 (0.73967) area!
If I play this correctly it could be a good 1:7 short!
Good luck comrades! let me know what you think!
Gold has fallen through a support level - or the Inverse Gold ETF (DGLD) has broken a resistance level depending on how you look at it. Inverse Gold momentum is up and has been oversold since the beginning of the year.
If the stock breaks below the 100MA, there is nothing left to support it. My bet is that it's going to go in the 31$ area. On top of that the elections are coming very quickly and this creates a lot of fear in the market. So if it breaks below the 100MA, I will be buying TVIX and VXX
Potential inverse head and shoulder pattern forming on the 240 TF, will be looking for a bearish RS down to 23.6% fib, then a bullish leg up to the monthly TL and look for a possible breakout. Just an idea on the current price action, let me know your thoughts!
If the market extend and form a higher outside return, there is a Butterfly completion alongside a AB=CD completion at 1250. So far this pair provide us a lot of summetrical moves and maybe is going for one more.
Just wanted to give an idea for possible trend continuation trades, All rules are on the chart.
All the best. Felix
In this image we can observe the impulse the chart is having on 4h. Now just touching the -27 retracement we are waiting for the chart to move down a bit to enter a long position aming for 1.3143 level.