Bitcoin weakness should be ending soon if we were on a triangle formation, strong support anyway around current level...
Reading the chart After the French election the pair surged higher until it hit a "major" dynamic resistance (reprojected a channel aligned at the 2016-10-06). Now it consolidates awaiting the big news from the UK. As a pattern trader I look for patterns within consolidation with potential to break out. If I loose, I reset and wait for a retest of the broken...
After a huge move in Vericoin price earlier in the week as well as a BTC price rise yesterday and as Traders awake to $2,700.00 BTC I fully anticipate the Vericoin market to go back into its 'box of consolidation'. For those that may not have entered yet, this may be a decent entry point as it will signal a continuation of a strong pattern channeling upwards...
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...
Nov 16 2015: NETURAL GBPUSD 15 Min;Sell channel top; Buy channel bottom (Analysis Based on 15 Min chart) Observations 1. Price in short term bullish channel (broken and retested); 2. Price consolidating after a brief up move NOTE: Wait for price action to confirm the importance of this level. Sell bull traps at consolidation top. Sell break and close below...