Read the text written in the chart.
Potentially a very good trade here with a Divergence + ABC + Resistance + RSI. Still waiting for the Stoch to cross for confirmation.
Potential BUY around 6811 which would be an A-B-C completion plus this level is the low on 6th May which could provide support. FTSE is already down quite a lot (roughly 1.56%) so this area could provide a decent long opportunity targeting previous highs or fib retracements up to the highs removing part of your position.
Despite the recent rally in the FTSE 100, Diageo has lagged the market. However, potential buyers may come in around 1757 as this is: 1 -the base of the tram line I have drawn in. Tramlines offer great low risk entries and you can often anticipate where the price will bounce by locating a trend line and then drawing a parallel one through the lowest low like I...
Usd/cad just broke the channel after hitting major PRZ (potential reversal zone) on weekly. Now we are waiting for pullback back to the previous channel low. Combined with fibonacci retracment 50 and 61.8 This could mean the first strong setup to the down side after long time. It is important to catch first setups of the new trend and it might go down so fast...
We have a big ABC countertrend move: A leg is a simple impulse B leg is a beautiful abc move C leg is an ending diagonal (Or Wolfe Wave if you prefer) For the Wolfe Wave setup the shorts could be taken now, but the problem is that the stop placement is gonna be too subjective. For the longer term ABC pattern trading I would have a more probable and...
Fundamentally Aussie is believed to be overvalued against USD according to its Central Bank Governor, Stevens. Until the market realizes this fact and starts making lower lows in the Daily timeframe, I stay bearish on this pair hoping to be on the right side of the market. Technically we've seen lower lows starting this week and have made our way to the...
in the 15M time frame the pattern is look like an ABC correction and we have divergence between A and C and i think we can make short position and then we can enter to buy position in the excepted C which i think it is stronger that short
As predicted 2 days ago we have had a nice 5 wave movement all the way from 235 up to 297 We would need to break 310 to signal a extension of the 5th wave move (i doubt it but watch for the break) Lets get ready for a double top/ending diagonal and then a move down to previous wave 4 support Dont be surprised if we resume our down trend ...Lets see how the...
Correction trend line was broken we wait for down trends
SHORT 1- end of abc (likes double peak) 2- Fibonacci stop the correct 3- Downtrend 4- drops below chanel
ABC pattern possible long wait for long signal, double bottom or formation of bullish candle.
I think after a harmonic pattern in and time and price we could have short position on gold. out target and time price can be seen on the chart
After the ABC retraction wave either a classic W when the green line breaks or classic M when it fails. W outbreak exit around the 0.618 line of the recent fib top W outbreak fail exit around 0.618 of the long term fib top Although the W looks good, my money is on a failure as we are coming from a recent peak. Let me know what you would choose!
Added the minor Elliot ABC retraction wave before uptrend continues with new Elliot Wave Also spotted a nice divergence and a classic M Market structure. Just need to get my volume profiles up and running so I can look at the Rejection area's for plotting the waves.
ABCD aggressive traders. Added Confluence Zone and better TP fibs to related Idea. PA is retesting C point. If retest is successful, you'll get a better entry point. Wait for reversal candle at C point. This could be a Gartley pattern in progress.