It seems like we are likely to form a pennant here. Give it some time before it breaks out / down. Keep an eye on volume for confirmation. Meanwhile if you are not patient enough you can try to catch the local tops & bottoms in the pennant, but only in the early stage. Once it gets squeezed further it just becomes unprofitable. Other annotations on the chart. Cheerz : ]
Potential reversal in place with double bottom. Waiting for abreakout above aqua line - highest high in pattern. Could continue into new channel formation? Target profit limited to ~$7 (~15%) due to overhead resistance but could potentially breakthrough with A grade earnings.
Double top is forming near the daily resistance. Sell one pip low to the last pivot low.
Crude_oil is forming Elliott's double three correction pattern. One wave (w) has completed and the wave (A) of the other wave (Y) is near finishing. Now wave (B) will start. The price will soon reverse. After some signs of the reversal, this may present good buy opportunity with great risk reward ratio.
My honest opinion is that one of the major mistakes globaly is that traders counter trend immidiately once price hits PRZ. Even with DT or DB you need some sort of comformation, at least break of DT/DB and wait for price to retrace back to the V bottom of DT structure or A top of DB. I found out that the best way to get comformation that trade has really changed...
Looking to short SPX after this double top. Once the neckline breaks you have several opportunities to place short trades ... Target is the longterm channel bottom at around 1737. Taking first profits at 1845.
Upon break of the double bottom neckline price looking for bullish resumption. The DB is from the channel bottom as drawn earlier.
Double bottom sitting on support. RSI divergence + double 0.618 fibonacci restracement ratios.
Short opportunity on the 240 min USDJPY. Double top. RSI overbought on the Daily chart RSI divergence Bearish reversal candle for Fridays close on the 240 1st Target at the 382 fib (108.421) 2nd Target at the 786 fib (107.320) (previous consolidation) Stops just above recent high at 109.540 roll stops forward to break even at 1st target
I don't see a trade here that I like, but I thought the chart was worth sharing. Aussy melted down swiftly after breaking its old range. Price often doubles the range after a strong breakout. My gut feeling is there is more downside, but I think price needs to coil a bit and store up some more energy to fall more. We'll keep an eye on it for a great trade with...
We will see in 20 mins if this is valid double top or not.!!!! SL = 1ATR TP1 = retest of structure TP2 = retest of 2nd structure Entry : Double top RSI Divergance MAJOR MAJOR structure on daily Hanging man
Stop loss in this trade is very less as I am taking very conservative entry.
Since February, GER30 has tried to cross the demand zone, however after multiple attempts, we haven't seen a major correction, just a series of up's and downs. This time, it has aggressively went down almost touching the demand zone but it is now approaching another important support line which has been in a bullish tendency since November 2013.
I'm a little late on getting this idea posted, but we had an abundance of advanced pattern trading opportunities setting up as my live trading session came to a close. Some have since rallied and some have been stopped out. This particular one is still at market and for those who like to take more of a conservative approach, may be putting in a retest of structure...
NBG Long term Chart: I strongly believe we are currently in a corrective wave 2 of a long term wave C pattern that should complete near the fall, end of the year. What I previously thought was an expanding diagonal () now appears to be a double zig zag corrective wave 2. If A=C in the corrective zig zag, then we can retrace as far as 2.95, but using...