There is a clear Divergence in daily chart between Price and Stochastic indicator.
I'm going to play it with a stop loss at 1213 with a price expectation around 1300 again.
Good luck all
There is a bearish pinbar forming right on the downtrend line.
We are looking for a short @ the break of this pinbar or after a retracement.
There is a huge pip potential but the stop loss is large (70pips) so adjust your money management wisely.
- Doji candle formed
- Key bearish resistance (green line)
- Candle formed below strong support at 86.000
- Previous break and retest of yearly bullish support (red line)
- Continuation of bearish market sentiment
THOUGHTS??
Looking to short Oil in around 43.38
Reasons :
double swing move from the recent lowest low ( 66.66%)
Strong Monthly Gann Angle around this area ( Please consider price time movement till it reach this area)
Former resistance area
March 2015 low ( 42.02) is a good area to watch price action
The AUDUSD is in strong down trend. We expect selling at resistance zone and sure following the daily channel. Waiting for daily retrace on resistance zone and for sure PA ( BEOB, IB ). We know that US president votes coming so be careful.
Elliott wave structure on the daily chart .
Reverse Head and Shoulder on the 1H chart.
Looking for a 50% retracement to wave B for profits.
Good luck!
Entry: 1.4060
SL: 1.4000
TP: 1.4300
Update status
Can someone explain or tell me why the Fibonacci Retracement at 78.6% is 200 points lower than the 78.6% retracement for the Cypher pattern. I am new to this Harmonic trading patterns so a comment or two would be very appreciated.
Thank you and with that being said I see the market finding support at this level and rallying over the next few days.
Right now I'm Still Neutral on SPX500. This could all change IF we break & close below the Major Support level on the Daily time frame. IF, we break & close below that level, THEN, I would expect Price to run back down to Previous Lows (Green Dashed lines on Chart) @ around 1880's level.
So far in this Uptrend we have started making a series of Higher Lows which...
Nov 2 2015: BULLISH EURUSD DAILY: Waiting on gartley to play out
(Analysis Based on Daily charts)
Criteria
1. Up trend on the Daily chart
2. Price at daily Support level
3. RSI hidden divergence
4. Gartley pattern terminating slightly below channel lows
NOTE: Wait for price action to confirm the importance of these levels.
If you find this information useful....
Although NZDCAD has not completed a technically valid Gartley pattern since the C point has exceeded its .886 conventional limit, the pair has still found support in the .786XA area. In addition to this key retracement level, there is confluence in this area between 1.272AB=CD and the 1.272 projection of BC. To add to the bullish bias, a missed monthly pivot...
GBPCAD has satisfied the conditions of a bearish 5-0 pattern at the 50% retracement of the CD leg. Missed monthly pivots for June and July of 2015 will likely help drag the pair down to the target area. There is tight zone of confluency around 1.978 shared by .786 XO, 1.272BC projection, and .786BC=DE, which makes for a nice area to take profit. The next level...
Short Entry @ 191.640
StopLoss @ 192.220
Take Profit @ 189.770
Broken Daily support over bought have had a double top in the past couple days which ran right back into the support turned resistance marked by the pink line.
Fundamentally the Yen has gained some strength and it is being shown a little bit across the board.
Technically we can see a lot of...
