Good confluence between a head and shoulders forming, a counter trendline test and a fib retracement.
We've seen a holding of a long term trendline on the 4 hour in gold Trigger is a counter trendline break, targeting the outer trendline @1240
Several Confluences, Strong rejections of level 87.5 & 88. The price is exhausted. Weekly - Strong rejection of 88.00 Daily - Bullish exhaustion. 4h - Strong Bearish Impulses with small bullish candles(possible retracements). Scenario 1. If the price counter trend holds and a break of the lowerline trend line support. A potential target would be 85.5(AB=CD...
Analysis: ======== Monthly StochRSI is OVERSOLD; monthly AB DOWN SWING - Price is moving down towards 1.618 TARGET Monthly Las AB Down SWING: price is at .382 Retracement Weekly StochRSI is GOING UP Last AB Up Swing; Price is moving down towards 1.618 TARGET Daily StochRSI is oversold - UP A (@ 111.824) B (@105.408) SWING - Price retraced back to .236 @...
The current trend is bearish, almost all elements are in a strong downtrend. The price vs. Cloud: It is under the cloud. The price vs. Tenkan Sen: It is at 1.1089 87 pips below the Tenkan Sen The price vs. Kijun Sen: It is 1.1089 to 87 pips below the Kijun Sen. The Tenkan Sen vs. Kijun Sen: They are together and inclined. Indicating a strong bearish trend. The...
After finishing an ABC pattern GBPJPY looks like its turning bullish and heading towards 164 area at least.We have divergence on H4, and I'll be looking for buy setups on lower timeframes after the trendline breaks.
FX:USDJPY @ .618 Retracement of Down AB Swing Counter Trend Line Break @ Daily Down Trenline StochRSI over bought Price Below 0.236 of last down AB Swing STOP LOSS: 15 PIP ABOVE PREVIOUS HIGH; @112.157 TAKE PROFIT: FIRST TARGET - Fib Level 1.27 of first AB Down Swing @ 105.408 SECOND TARGET - Fib Level 1.618 of first AB Down Swing @ 103.328 EXCELLENT...
PRICE BEARISH FROM .618 FIB LEVEL OF DOWN AB SWING BROKE BELOW COUNTER TREND LINE BEARISH ENGULFING CANDLE STICK FORMATION AND RETEST OF THAT CANDLE TARGET 1.618 FIB LEVEL
BUY FX:GBPCAD Counter Trend Line Break Bullish Engulfing Candle Stick Formation/Bullish Bias Support @1.9000 is holding/ Price broke above Previous Strong Resistance in March 2016 Price is above UP Trend line 4H StochRSI is OVERSOLD and GOING UP Buy @ Market Price\ Stop Loss 10 Pip below Las Low Price Target 1.27 Fib Level of last bullish AB Boundery
I've moved my trade across from GBPUSD to GBPJPY with the looming FOMC etc later this afternoon. ABCD with CTL breaks on the way up. Bulls appear to be in control, collecting stops on the way up. Confluence - D1 completion (127% Fib extension of AB) - 161.8% Fib inversion of BC - 161.8% Fib extension of part CD move - Previous Weekly high - 127.00 round...
Overall it is still down trend in the daily. Price broke and closed below the counter-trend line last Friday. In weekly, a bearish pin bar was printed. Looking to short from price rally back to the counter-trend line. Reward-risk ratio have to be at least two for me to take any trades.