The entry bar is not perfect, but we have a move below the resistance area and a big volume coming for the bulls. That might be a good Spring setup. Risk to reward is excellent. If you close half at 1 to 1 and then aim for 161% extension you have close to 1 to 3.3 RR trade.
This area will offer a good area for a short. Observing reaction and waiting for a convincing entry bar. Setup - 1 to 1 also price might move behind a previous high and take the stops. Call it Double top, Support Resistance, it doesn't matter. If stops are taken there will be trapped people. Stochastic in Overbought - not that it strictly predicts anything...
See how volume was drying down and was not validating the rising price. Then we had this red Outside bar on raising volume that occurred at the exact 1 to 1 point. Also, it occurred above a previous high so we might imagine that stops were taken. This was also the 61% retracement. Another confluence point is a Divergence from both the 8 and 14 period...
We have a Gartley or AB=CD potential from the 61% retracement level. Volume is drying down which is a leading indicator of price. SPX500 regularly tests the 78% range which was going to make the setup called Gartley 222. I personally look for these at the 61% levels and the 78%. Quite possible to see a few stop hunts until we see a decisive move down, but...
Potential Upthrust in this area. Waiting for a 3-wave correction for a valid Upthrust. Then a good entry bar will be needed for a trigger. Notice Stochastic enter overbought so good for confluence. Sett spot trade is also possible, but looking for people to be trapped.
Great upthrust example, stops were taken and price reverses aggressively. Price already moved a substantial amount down so won't initiate a trade.
If I see a good entry bar indicating that stops were taken and there is enough liquidity for a strong move up I might enter this as a Spring setup - a form of AB=CD. What I don't like is the longer consolidation, but if you go to 1H it still confirms the bulling trend. We are not here to predict the future, but to buy with a small stop in relation to the...
Possible 1 to 1 short due to measured move. Also a valid Upthrust setup. We have an inside bar on the 30 min timeframe, one may use that for a low-risk high-reward entry. The longer target is the previous resistance area around 4444.
Potential upthrust. Waiting for a strong entry bar. 1H trend is a bit bullish, but 4H trend is down according to my Long term EMAs.
Australian Dollar Starting with the weekly chart, consolidation is evident. On the daily chart, a retest of the previous support within the consolidation. A four-hour chart shows an RSI divergence—a gem for counter-trend traders. The one-hour chart mirrors this setup. Reading trend movements with precise filters is pivotal to distinguishing buying from selling...
Let's debunk some headlines like "The Dollar is Bearish!" and dig into the real chart dynamics. On the weekly chart, a bullish trend is evident, despite a retracement that might seem bearish. Always consider the bigger picture. The recent retracement is a mere blip compared to the overall uptrend. 🔍 Key Levels to Watch 🔍 Zoom out and observe the retest happening...
Greetings, fellow traders! Let's delve into the Euro-Dollar trends and identify some potential trading opportunities. 🌍💱 📊 Weekly Chart Insights 📊 The bullish trend continues with a notable pullback, keeping our attention on the upswing. The market's pullback has tactfully avoided breaking crucial support at 1.0637. Transitioning to the daily chart, we find...
Bears seems to be in control Sell Gold when Breaks 1895 with Target of 1823
Consumer Credit has recently risen to over $1 Trillion and this rise happens to align with a 2.618 Fibonacci Extension and the PCZ of a Bearish ABCD. If we view this based on the expectations of Harmonics and Fibonacci, we would expect that this is indeed the top and that we will now begin a retrace back down to trend, which could likely land us between the 50%...
Some notes for short trading plan XAU Breaked down band + tested ABCD parttern formed Head and shoulder formed D1 chart
Price Action Analysis. Important Key Levels. Potential Scenarios. ❤️Please, support this video with like and comment!❤️
A brilliant Bullish Gartley has played out. Congrats to those who caught that textbook Hammer on the daily chart! Now the Ichimoku Cloud indicator says some interesting things. 1.) Bullish Lagging Span 2.) Daily and 240 candles closed on the (bullish) conversion 3.) Daily and 240 candles see the same 0.618, very close to the (bullish) conversion Crypto is...
Daily Chart On daily timeframe, JP Morgan Chase & Co ( NYSE:JPM ) has broken and retested the support around $144. That means price will go up after retest completed. I expect JPM can go up to $160 that level very fit with Fibo Extension Tool (1.618 Re) Wait and see next move