So far since last week i've caught over 1000 Pips watching US30 very closely and its moving very well with harmonic patterns + reversal confirmations.
Right now price is sitting at the 786 fib, but I want to see price consolidate and break to the downside confirming my overall tran Bias.
This paid has already broken lower lows and has pulled back, I'm going to...
My first overview of a narrative driven trade that is likewise seeing strong bottoming in technicals. Let's start with the narrative and get all excited before we get into what actually matters, the only truth - price action.
ONVO is a microcap. While I have found myself trading smallcaps/microcaps recently, I honestly did not think I would be writing about them...
DXY broke above 100$ and above the 50 MA line last week despite mixed jobs report.
The breakout signals that DXY intends to climb higher.
Its next targets are:
1) 101.5-102$ (trend line and structure zone)
2) 103$ - Double top and re-test of Butterfly PRZ
3) 106$ - Completion of a bearish Crab pattern.
What do you think? Where's DXY next Sell Zone?
Butters has a bit of a wyc*koff* at the moment and so is feeling a bit down. but I'm sure he'll perk up, either into a consolidation triangle with AllTimeHigh as resistance, or more likely the PBOC has given us the 'Bitfinex moment' of this cycle and we'll have a chance to BTFD around 5200 (butters likes to revisit previous ATH's and lower trendlines out of...
Hello guys ,
many of you know the rules of buttery fly pattern but i will mention it below ;
Leg B= 0.786 Retracement Of XA
Leg C= 0.382; 0.886 Retracement of AB
Leg D= 1.272, 1.618 Extension of XA
This is daily time-chart
Now i believe that Leg C will reach the 0.786 or 0.886 because we are in wave 4 in a Downtrend which is a corrective way ,and to be more...
Last oil butterfly took some time to unfold, but the pattern validated and it was a nice trading camapaign. This time, we didn't test the whole PRZ, but price action seems to confirm the trend.
If the first reaction after OPEC and non-OPEC meetings is to go down, I think this will take some time to balance.
Targets indicated on the chart.
Thanks for your comments.
Bullish Butterfly is Formed
The PRZ is shown by the green rectangular area
Divergence in both RSI and Stochastic indicates a possible reversal to the up side
The breakout of the red trend line to the up side confirms the reversal of the down direction
This trade setup is invalid below the red horizontal SL line
Watch for any sign of weakness in the green...