I'm short in the US30. I have been watching the order flow and there is still a large amount of bears hitting it at key levels. Bearish channel. MACD looks like it wants to slump over and diverge. 1st target will be .618 fib level. 2nd .764 fib level 3rd around 15200.
An ABCD corrective move could end up at a significant daily resistance. Bullish Gartley potentially retesting the upper band of an already broken descending channel could be use as buy entry level to ride the BC leg of the entire "big" correction.
It appears that all of the stars are aligning with this pair. - bearish channel has been respected. - 618 retracement has been respected. - major resistance. - hanging man candle formation. - 127 extension targets align for impulse legs 2 & 3. - targets align with previous major structure. I am anticipating this to be less than simple as it's such an obvious...
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Nov 13 2015: BEARISH EURUSD 1H: Long term bearish channel (Analysis Based on 1 hour chart) Observations 1. Long term bearish channel 2. Two short term bullish channel 3. Bullish head and shoulder pattern 4. Price at weekly swing low NOTE: Wait for price action to confirm the importance of these levels. If you find this information useful. Please hit the LIKE button.
Nov 12 2015: BEARISH EURGBP 1 Hour: Bullish BAT pattern at market (Analysis Based on 1 hour chart) Observations 1 Short term down channel 2. RSI oversold at swing low 3. Price at down channel mid-line 4.BAT at pattern at market 5. RSI hidden divergence 6. RSI regular divergence NOTE: Wait for price action to confirm the importance of these levels. If you...
Nov 3 2015: BEARISH EURUSD 15 Min. Sell channel top. Buy support (Analysis Based on 15 min chart) Observations 1. Long term down channel 2. Short term down channel 3. Price at support 4. 15Min RSI oversold at swing low NOTE: Wait for price action to confirm the importance of these levels. If you find this information useful. Please hit the LIKE button.
Nov 3 2015: BEARISH EURUSD 1H: Sell channel tops; Buy BAT pattern (Analysis Based on 1 hour chart) Observations 1. Long term down channel 2. Short term down channel 3. Bullish BAT pattern 4. Oversold RSI at 1H swing low NOTE: Wait for price action to confirm the importance of these levels. NOTE: This is a counter trend opportunity based on my daily outlook If...
BEARISH EURUSD 1H: Support becoming resistance. Bearish price action in kill zone. (Analysis Based on 1 hour chart) Observations 1. Long term down channel 2. Short term up channel being retested 3. Price at daily swing low 4. Overbought RSI at 1H swing high NOTE: Wait for price action to confirm the importance of these levels. NOTE: This is a counter trend...
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....
BEARISH EURUSD WEEKLY (Analysis Based on Weekly charts) Criteria 1. Long term down trend 2.Price recently bounced at support/resistance zone 3. Recent strong bearish price action NOTE: Wait for price action to confirm the importance of these levels. I don't trade from the weekly chart. I use it to evaluate overall market direction. If you find this information...
BEARISH EURUSD 1H: Support becoming resistance. Wait for bearish price action. (Analysis Based on 1 hour chart) Criteria 1. Sell at daily Support/Resistance 2. Sell at daily swing low 3. Sell at channel high NOTE: Wait for price action to confirm the importance of these levels. NOTE: This is a counter trend oppertunity based on my daily outlook
Look at this really interesting chart of Soybeans. I entered long Corn almost a week ago and I was waiting for a good signal on soybeans. The price reached the rejection line of the descending channel. Volumes dropped on the last down move, and the 14 periods RSI shows a strong divergence. I believe a break back above 900 dollars would be a strong bullish signal.
The descending channel from 5th August acts as a pivot point for trend reversal as suggested by the numerous times price was tested and changed direction. Therefore, I predict that price will fall since it has touched the trend line of the channel. This resistance level is further implied by the fact that 1.31481 is the 0.236 Fibonacci retracement level, so price...
Update: Stopped out Profit = - $600. Balance= 30,000-600 = 29,400. ================================================================== Trade 2: Pending Short XAUUSD @ 1180.00 S.L @ 1186.00 T1 1171.00 T2 1163.00 For 30,000 Capital, and 2% risk per trade=$600, Position size = 1 lot ( 0.5+0.5) ==================================================================...
Looks bullish here as it is touching the top trendline of the downward sloping channel that's been in place since 9/14'......it is at this big resistance lvl. of the upper trendline of the downward channel and could b/o thru this week w/ tgt.#1=216 & then tgt.#2=220. Had a pre b/o day today w/ larger positive volume than yesterday......as always watch volume for...
This move can go either way Long or short. I've managed to draw out a wedge which will determine where the next move could be. If the candles are continuing to be bearish for the time being and managing to break through this wedge, it may be worth shorting up to the demand zone (TP). Otherwise if the candle tests the wedge and manages to bounce off it, a short...
I already entered a short position at 0.968. I think a downward trend will continue after a short pullback period in wich we are now. The trade is fundamental based on the Policy of Reserve Bank of Australia. It cuts the cash rate by 25 bp to 2.25% to a historic low. They argue that it will boost the economy and will provide support and growth. Well we will see ...