Good day all,
Here we are looking at a Bearish Cypher pattern that completed and are now ready for entries.
The main trend line here is a Bearish trend and we are sitting now with a Bearish Cypher pattern.
RSI is at extreme overbought conditions and we are sitting at overbought +- 80.0 level.
We aslo have a shooting star at ARROW A and a Doji Candle at ARROW...
Seeing today's high test bar close rejecting a past level acting as both support and resistance within close proximity of a Fibonacci cluster (38.2% and 50%) drawn from two previous swing/cycle highs and rejecting the falling trend line for a third time highlights this end of day set up as a potential selling opportunity. Recent lower highs and lower lows...
Case for entry short:
bearish doji bar close;
retest/rejection of resistance at ~1.5025; and
0.618 Fibonacci level rejection and close below
entry - below doji close
stop - above doji close
target - ~1.4830 (weekly support level and also 1.272 Fibonacci extension level)
AUD/JPY has broken previous resistance at ~92.14 and is returning back to test it in a very shallow pullback with also a confirmed bounce off of the 0.382 Fibonacci level . Currently, an hourly inside bar is in development indicative of a possibly stronger downward but continued move with the underlying trend. For more gingerly, and not aggressive trading,...
UKOIL Crude Oil (Brent) - Daily Chart
The break of the accelerated down trend and the new tentative up trendline may suggest that there is a change in trend with a turning point on 3 Jan 2015.
US Oil daily chart
Bullish divergence - triple divergence may indicate that the low of 29 January 2015 as turning point could change the trend.
The Friday close (13 Friday 2015) above the Tentative down Trendline ( break of Trendline )
In its prominent down trend, price continues to have pronounced consecutive cycles below the 20 ema pushing EUR/USD lower. Today’s bearish reversal bar bumped just shy of a past level, now acting as resistance, at 1.2500, and closes below 20 ema and 0.618 Fibonacci level. If a short trade does not trigger a re-entry can taken at the test of 50 ema and/or...
