D1 - Bearish convergence, currently it looks like a pullback is happening.
H4 - Price has reached the critical area formed by the downtrend line and the resistance zone. Potential bearish divergence.
H1 - Triple cycle up, price has reached the critical zone formed by the fibo levels of the cycles. Bearish divergence.
We may now look for more evidences of...
I think BAC has finally broken out to the upside of an inverted head and shoulders on the weekly patter. In addition, it seems to have popped above a longstanding downtrend line which could give it a significant boost higher.
GBPAUD reached the top of the descending trend channel plus the RSI is indicating an overbought signal. This is a perfect short setup to catch some big pips!
Trade Details :
SL : 1.8460
TP 1 : 1.8200
TP 2 : 1.8050
in 4H chart:
Head and shoulder pattern
61.8% of fibo retracement
Touching top of the downtrend line
Entry : 146.35
Stop : 146.60 (25 pips)
TP1 : 145.50 (85 pips)
TP2 : 144.20 (215 pips)
I am going to make it very simple in this publication by sticking to the most obvious and unavoidable visual cues.
But I remind you under this description my "Related Idea" that lists my technical indicators.
I reported in a previous publication, there remained a psychological threat:
THE BEARISH TRENDLINES OF THE 2018 BEAR MARKET IN LOGARITHMIC SCALE.
D1 - Price broke above the downtrend line and retested it.
H1 - Double wave down, price reached the 100 fibo level, bullish divergence.
Currently price has broke above the most recent downtrend line.
We may now look for more evidences of bullish pressure in order to join the bulls.
H4 - Price is nearing the downtrend line and if we didn’t get a valid breakout here, we may then expect the price to respect this trend line and move lower again. continuing bearish divergence.
H1 - We have a critical zone that has formed based on the fibo levels of the cycles and the H4 dynamic resistance.
We may now expect one more push higher from the current...
D1 - Price reached the downtrend line, if we didn’t get a valid breakout here, we may then expect the price to respect this trend line and move lower again.
H1 - We have a critical zone that has formed based on the cycles and the downtrend line.
Price has currently reached this zone, we may now look for possible sell setups in order to join the bears.
After TLT failed to break the head and shoulder neckline,the stock is following a second pattern that supports/reinforce the downtrend (Parallel Channel). This is a good setup to either buy puts or close current positions.
FX:GBPJPY reached a critical point today, big resistance at this point as it is an intersection between a downtrend and 50% fibonacci resistance ... we will go down for sure, with an entry on 142.450, a stop loss on at 143.988 (23.60% fibonacci) and a first target at 141.002, a second target at 139.512 and 3rd target at 138.591 ...