Idea is based on Elliott Wave theory and Fibonacci ratio's. The rationale behind this setup is shown on the chart. Good Luck
Divergence indicates market weakness. Could be a small retrace or start of trend reversal.
We have already had 2, but 3 is the magic number so why not? :)
Despite the recent rally in the FTSE 100, Diageo has lagged the market. However, potential buyers may come in around 1757 as this is: 1 -the base of the tram line I have drawn in. Tramlines offer great low risk entries and you can often anticipate where the price will bounce by locating a trend line and then drawing a parallel one through the lowest low like I...
EURJPY is bullish for the last two months but this could come to and end in coming days or weeks, because we can count five waves up on the 4h chart. Besides that we also see a decreasing bullish momentum on the RSI, while the price can be forming a wedge pattern in fifth wave. This refers as an ending diagonal in Elliot Wave Theory which can cause bearish turning...
Price has reached support level. CCI showing very low values and showing divergence. Expecting price to go up reacting to the support level
The bat pattern is now completed. Looking for price to retrace to FIBO 0.236, bounce for head and shoulder pattern completion. Then taking out support at 1.1907. And continuation of trend towards parity.
Wolfe Wave Characteristics: The Symmetry of Waves 1 to 2 is the same as waves 3 to 4 If wave 2 is sharp then it would find support at wave 2 of 1, and if it was flat then it would find support at the Wave 4 of 5 if 5 was extended, or at the main wave 4 itself if wave 5 was not extended then it would find support at main wave 4 of the same degree The Waves 3...
Cup and Handle The cup and handle pattern is very strong on this one. We may have to break the 240 resistance level (as outlined in red) for 2-3 times to get to the 250 level. The resistance may be around 254. Hidden Bearish Divergence Yep, as the the two indicators said. This one can't be neglected as well. We may effect a fall after the rise.
Been a while i posted charts. I have been away perfecting my charting skills and testing to see if they prove to be working. So far my guesses were increased in their success. Recent one was that many indices (US and around the world) showed topping and head and shoulder formation is in many. I sold part of my holdings on the recent tops (for Russia, China and...
This one is for bulls. I just noticed this divergence after posting the bear chart. Expect the resistance around 238. If 238 is broken, 242 is the next target. Tight stop at 230 as it was the recent strong support level
Falling wedge with divergence forming. Buy on retest to 0.9137 targeting 0.9197 and 0.926
Dear workmates ! Last week, we saw a nice correction of the strong dollar uptrend. This correction may be over for now. USD will probably trend up this week particularly against Yen. DXY 1D Timeframe View : We have a strong MACD divergence on 1D timeframe of DXY giving a nice long signal on US Dollar. A falling wedge is forming indicating a nice long term...
Targeting 1148 and 1103. Hidden bearish divergence adds additional confirmation Minor trend line is broken as well Would be more confident when price tests 1174.05 for resistance Note: Price is trading within a falling wedge (although not complete yet), so keep an eye out on that. 1148 will be a level a watch (refer to notes on chart)
The digital currency has been trading in a bearish parallel channel on the 4H timeframe for over 18 days and has just tested the upper trend line. Since April 6th is has been printing lower highs consecutively, indicating its clearly bearish on this timeframe. Price touched the 382 Fibonacci retracement of the swing low that started on April 6th and seems ready...
EDIT 2: This chart was the obvious winner... Wave 2 are rarely triangles. This is the alternate count that I am currently favoring over the last chart I published (). Looking at the 3H and above there is a pretty big bullish divergence all the way up to the 12H. My original thinking, that I published in my other chart, was that since wave v (on the current...
Long on a pullback to 1.225/.2248 levels, targeting 1.24 and 1.255. Pitchfork shows price reacting to the median line. The most recent low saw a bullish reversal without touching the LML. ------------------------------------------------------- Better Set up when the pullback's low touches the median line and then rallies MACD histogram moves above the 0-line
Great place to start re-opening shorts with a tight stop-loss. Counts on the lower time-frames support the ending of Wave 5 of 5 of c of 2 of (3) There's also a big bearish momentum divergence on the AO at this time-frame and a 62% retracement of wave 1 of (3). Since this appears to be a Wave 3 of (3) on the horizon the next drop will be extremely strong. Bulls...