We are in a crossroads between major trendlines here. This forms a triangle pattern on which you can apply fib-time lines to predict a breakout (0.764 fib-time). I added some interesting levels and other trend lines aswell. How to trade it: Depending on what side of the triangle (bottom / top) the price is closer to while approaching the 0.764 fib-time, you can...
Depending on what side of the triangle (bottom / top) the price is closer to while approaching the 0.764 fib-time, you can start scaling into the respective trade. Make sure not to buy into a potentially premature breakout at point (E). Targets are based on projections of the widest distance within the triangle, down / up from the apex. For the up-target the...
The market seems to be a little bit confused, probably because of OPEC meeting and reaching a key support level. Here is some analysis of what may happen if the support would be violated or not. The nearest strong resistance for TP on long position is somewhere between 63,5 - 64 If the prices will break the key support level, then the next strong support is 59-60
--- Please readjust the scaling so that the spiral sits just above recent price action --- We are still in the process of consolidation. In my opinion, the recent drop should not be interpreted as a meaningfull breakdown. It's still within the acceptable range. Price bounced of the longest possible MA at 222 (using Bitstamp due to good historic data). A break...
Bullish Bat Pattern here on XAUUSD that's looking to be putting in a double bottom at the completion point. (You may hav eone already on the LTF). I say looking because on this 4hr timeframe the current candle won't close for another 2 hours or so and as we all know the close is very important to the story that the market is telling us. If you take a look at...
In yesterday's interview/webinar I got asked the question about my outlook on Bitcoin. At the time I responded by saying that all I see is consolidation and didn't have a real prediction to make. (Here's a link to the recorded webinar if you missed it www.youtube.com) As I look at the chart today, although we're still consolidating, the candlesticks are telling...
Notice how Silver price is now trading out of the long term downtrend line after its massive rally to all time high of $ 50. We continue to expect price consolidation and a possible low to retest the 13.50 to 14.50 levels to confirm a reversal sign (with the addition of RSI divergence and a double bottom?). Silver need to break out of this triangle with the...
We are waiting for any sort of pullback or consolidation. Considering the recent fundamentals, nzd remains bearish. I hope to see a pullback at the 0.618 fib to get a long position. If we see a pullback at the 0.50 fib we can also have a Long entry with a short term target at the 0.618 fib, but i don't think it will happen, momentum is too bullish.
EL has been cropping up on my lists quite a lot recently - overall it is an upwardly trending stock and has been since 2009/2010. However, the trend is not at all easy to trade - even for a longer-term trend trader. There have been many periods of extended consolidation - the duration (rather than the depth ) has been the main sticking point. In the last few...
This pair has been consolidating since late last week between 0.7225 and 0.7165. Breakout traders can lookout for a potential breakout trade. I would love to hear your opinion, feel free to comment, agree or disagree....
This pair has been consolidating since late March, forming a triangle pattern. Breakout traders can keep an eye on this pair to see where price breakouts. I would love to hear your opinion, feel free to comment, agree or disagree....
DAX IN A NICE UPTREND BUT WE'VE RECENTLY STALLED CAUSING THE DAX TO CONSOLIDATE FOR ABOUT A WEEK. WE'VE MANAGED TO BREAK OUT OF THIS CONSOLIDATION CAUSING THE TREND TO CONTINUE. PRICE IS NOW PULLING BACK TO A LEVEL WHERE THERE'S GOING TO BE BUYING INTEREST. TARGET AT 12500 WITH STOPS AT 11974
Price is currently in a tight consolidation box between 1.0145 to 1.0200 region. A breakout to the upside could potentially see price reaching for 1.2580 to 1.2820. A breakout to the downside could potentially see price reaching for 1.0025. Naturally, the downside reward seems to be much better than the break to the upside. I would love to hear your opinion,...
It doesn't look good for the bulls. We're still in a consolidation period, but once we break the blue line, it's a good sign of more downside, and I would be looking to pick up a short. From the looks of things, we may reach the consolidation low before the last bubble, and after that, who knows. In any case, as long as this bear trend holds, there's no basis...
We are sitting on a prior consolidation level (230-235). These are the possible outcomes: 235 holds, we break up, inverse H&S resolves, target 280-290 235 breaks resulting in a meassured move down to 180 Last time market retested such a major consolidation level from above, OBV was in a downtrend, thus price continued the downtrend. Rightnow we have a...
In my previous post "Stophunters at the ready.." I was expecting a bullish bat formation. The breakout appeared to be false and the market was already pricing in another rate cut of the RBA. (see note 1 on the cart). However, the RBA decided not to cut the rate recently. And sure enough, the market failed to continu its path to the north. (see note 2 on the...
Many pairs have been in a consolidation phase, including this pair. I would love to hear your opinion, feel free to comment, agree or disagree. ------------------------------------------------------------------------------------------------------------------------------------------------------------------ Always wanted to connect, learn and help one another...
EUR/GBP is seen to be trending below the 50 ema in an aggressive fashion. A potential entry to join the downtrend on the 1 hour chart lies between the levels ~0.7000 and ~0.7080 which nearly coincide with the declining 50 and 20 emas respectively. A formation of a high test bar/reversal pin bar/shooting star will be a sign of a short set up at...