USOIL is trading in a broadening pattern. It just tested the support zone. If it is able to hold the support then it is likely headed for the top of the pattern. All bets off if the pattern is broken downwards.
Disclaimer: Not a recommendation to buy or sell.
Long term chart is also posted here.
Just throwing some lines on HSBC (HSBA) .
We have a broadening channel, higher highs and lower lows on a 20 year timeframe.
Currently in a downward trend on the monthly, just about holding historical support.
This would probably be a good place to exit if we are expecting a market downturn.
"These formations are relatively rare during normal market conditions...
Big Expanding descending Channel or Brod Formation of structure making in GBPJPY. Currently making a Bear flag to Short Term SELL Opportunity .
Buy on Third touch of structure after Confirmation in Lower Time frame -
Let See What Will be Next Move -
Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only.
Thank You !!
Following from the smaller scale charts posted previously, weekly scale shows 2 triangles in action from outside bars. Missed the smaller scale one which perfectly tagged the recent low but i've done some more studying and almost completed the strat course, so my eye is sharpening every day. Larger scale triangle still has lower edge to tag, as previously...
The Broadening Top pattern forms when the price progressively makes higher highs (1, 3) and lower lows (2, 4) following two widening trend lines. The price is expected to move up or down past the pattern depending on which line is broken first. A bit of a toss up since the broadening top formation appears much more frequently at tops than at bottoms, and therefore...
The FB daily shows a coil around the point of control in the 114s. A break north of the coil on weak volume, paired w/ a flat RSI, and MACD negative divergence indicate a potential reversal back into the coil. If the support in the 113s holds, the coil should then break north again. If it fails, it could result in a possible bow draw reversal of the coil, at which...
Busy chart, so bare with me. Bold call, but the more I look at the FANGs on a combined chart, the more I see an (incomplete) bump and run reversal (BARR) in blue.
A head and shoulders is present within a broadening formation in white, that gives room for the H&S to complete. Support in green, resistance in red.
the SPX is close to overload, its simple to see at RSI and stoch. But i see the possibility of the formation of an ascending broadening wedge pattern. If correct, the idea is as clear a prolonged downtrend and the levels, still a little fuzzy I think that would be:
Target 1: 1950
Target 2: 1850
Target 3: 1750
Target 4: 1700
it seems bird of ill omen
Notes on chart detailing the various moves based on chart patterns. Expecting a rally to 1.545 - 1.55 and then a decline to 1.51 - 1.50 and eventually to 1.495 and 1.465 (if the H&S is validated and price breaks below 1.50 support (a strong level).
*This is an H4 compressed chart, so the timeframe for this tp play out will be days/weeks