Seems like this is now confirming a cyclic pattern, almost right on cue as published a day or so ago.
this is my first attempt of studying a chart with this strategy.. i think the consolidated area is not going to stay for a long time due to the long pullback of leg 2.. anyway there is a chance of selling at the moment although for 100 pips or even less
In my opinion gold is going to create a "bearish butterfly pattern" Yesterday i published the same analysis for this chart but a bit less precise.. so it's just an improvement of a similar and previous work. I have also included stop and take profit
gold is moving in a consolidation area; this means harmonic patterns creation bearish pattern (butterfly type)
Market is consolidated. Can take advantage of this short.
The pair has consolidated. I am short bias but these are two potential setups that could take place during the week.
Hi guys; As human nature like simplicity, a long consolidation period due to being the price around 100 is highly possible. It will move up or down but, after a while
Careful, we are in a consolidation phase. If the price break the resistance, we expect that resistance become a support then an uptrend will start. But if the price does not break the resistance so we are looking for a sell oportunities. (more info in chart)
EURGBP is closing in on an area that could proof to be too strong. on 4H RSI and stoch are close to or pretty much overbought. Both indicators can show bearish divergence if price actually stalls at the red marked area of 0.7850 - 0.7860 and this together with an area that has proved itself als a consolidation area I'm inclined to believe price will revert here...
FX:AUDUSD You can see the structures and the aceleration right?
Look for a break below that short-term trend line to form a bat pattern at the 0.886 retracement of the first leg. Enter at 1230.78. Stop loss is based on that piece of structure before the start of the pattern and is 1217.03. Profit targets are 1249.61 and 1261.07 based on Fibonacci levels. I think this will be further consolidation before a lengthy move down.
Hello Traders, I’ve been watching FX:XAUUSD for about a week and been trying to find a setup for entering into the strong bearish trend, at least for the short term. Zooming out the price action chart, I was able to recognize a really well developed chart pattern which is called the descending triangle. These types of triangle are usually taken as bearish...
Hello Traders, Here we have a VALID SYMMETRICAL TRIANGLE on FX:USDCAD , which has formed within the consolidation zone. We have been in this consolidation for the past 15 days and this probably has to do with the upcoming Fed interest news this Thursday. Everyone is just trying to be on the safe side and the direction will probably be more clear after the Fed...