A potential bearish butterfly is forming. C must be confirmed. Wait for further conformation.
Bat Pattern Long along with some bullish momentum divergence for CCJ. We touch the 886 3 days ago, but today might be an opportunity to jump in at a good price if you missed the first touch. We saw increase volume at the 'XA' leg and lower volume through the maturity of the pattern with increased volume at the .886 level. I would like to wait for a retest of...
I posted the Daily chart a couple days ago; here is the weekly chart which is a bit clearer for people. Again, I'm looking to get long around 61.30s to not miss the move. I would expect a retest of the B point, but I will usually just stick with a 1:2 R/R and move on. Volume saw increase during ascent of the 'XA' leg and fell off during the decline and maturity...
Coming off 52 week highs for the identified 'XA' leg. 37.50 is clean support on both daily and weekly charts. There is also very nice bullish momentum divergence seen on the Mac-d histogram. Enter Long just in front of the 'D' point at 37.55 Stop Loss below 'X' point around 36.60 My initial Profit Target will be 38.75 which should see resistance with second...
**WT +144 Pips** An advanced butterfly pattern is very possible now that price has had a close above the B point. There is an abcd pattern that did not see a completion and with the give waterfall drops that have been going on in EURJPY a short would be the best play I can think of in this pair.
Bearish butterfly has been formed. PRZ is tested.So if 96.420 won't be breached we can experience downside move to 94.07 (TP1 and 38.2 retracement of CD leg), 93.0 (TP2 and harmonic B point)