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...
Hello traders, I'm presenting you with a trading idea today by using the rules of engagement (IF - THEN) syntax. We have a double top on the 1 hour chart with bearish divergence, now we're waiting for the following conditions to be met. 1) IF close below neckline 2) THEN wait for a 618% Retracement 3) IF Market hits 618% 4) THEN sell to 127% confluence with...
Current Sentiment: Range Pending Technical Score (PTS) Direction with trend: 0 SnR Confluence: +1 Trendline Confluence: 0 127 Harmonic Confluence: +2 Total: 3/8 Wait for price action confirmation. I would love to hear your opinion, feel free to comment, agree or disagree....
Divergence set up. A dip down to 1.08/1.079 is very likely.
A possible bearish divergence is about to happen, anyway, according to overall negative, bilateral (EU, US) data forecast, price might actually correct even higher to 0.382. Watch for 38.2 Fibonacci level and H4 200 SMA. Stay neutral until H4 divergence is confirmed by Daily forming divergence.
Triple bearish Knoxville divergence in addition to a rising wedge on the 1 hour chart is indicating a bearish move toward the missed weekly pivot at .74765 and possibly a larger move toward the missed daily pivot on March 12th at .72607.
Current Sentiment: Bullish Price managed to put in a double bottom divergence setup last week. For now, we will wait for a potential 2618 setup to enter based on a trend continuation trade next week. I would love to hear your opinion, feel free to comment, agree or disagree....
TSL in an ascending wedge at ceiling with bearish resistance and RSI trend breakdown
Price has been consolidating and we have a few potential signals indicating that price might continue its downward direction. We have a valid double top divergence setup at the moment, in confluence with the upper end of the triangle. There is also a minor resistant structure just above at 1.0635. A break below the triangle pattern might be the confirmation that...
There is noticeable difference between a BITFINEX and a BITSTAMP 4h chart. Bitfinex: triple top is flat wave 1 does not overlap wave 4 (blending the 2 exchanges price does not overlap therefore, I consider this a valid 5 wave count) see user chessnut's 4h BITSTAMP chart linked in related ideas below Divergences on RSI and Stochastic suggests the bullish...
Gold continued to slide further after our weekend analysis. It has now formed a divergence and would potentially see some upward pressure coming in. Key zone to watch would be the 1170/75 region. A break above could potentially see price hitting 1188/91 structure level. However, should the 1170/75 region holds, gold would resume it's downtrend trading lower. I...
This is a potential bearish butterfly pattern on USDJPY as price is in consolidation on the Daily Chart. Of course this trade wouldn't be of any interest to me if there was no resistance zone. This is because since trading is a business of probabilities, I want to know where the sellers are so I can get involved. Now a list of what this trade has to offer in...
Coming of triple divergence, Pandora has stabilized and today has broken previous highs of the 24th which came on above average volume through this congestion period. Momentum did not put in a lower low to go with the gap down, and we should see P try to retest 18s.
RIG is coming of divergence that sent price breaking resistance with momentum confirming the move higher by also making higher highs. RIG has since pulled back to a .618 retracement. I am looking for price to move past its most recent leg higher and test the 127 projection of this leg. With stops placed below the most recent swing point low, this trade offers a...
NUGT has put in a .618 retracement after triple divergence led it to break previous resistance with momentum confirming the break. Our decline was not a sharp decline at all hinting that this was price taking a breather on somewhat lighter volume. I am looking for price to continue to its 127 projection with stops underneath previous lows.
Overall AUDUSD is still consolidating sideways. With this in mind, traders can take advantage of the bottom and top range. Looking at the H1 chart, we have a divergence as well. As long as price respect the 0.7740 level, we can potentially see price bounce back up towards the 0.7840 region. I would love to hear your opinion, feel free to comment, agree or...