After a breakout from a long trending channel, the price action has formed another triangle formation that is likely to break downside in order to confirm previous resistance as new support. Target 1205-1201 SL - 1255
There must be a comprehensive text, but I'm too lazy to write it.
Expanding channel in the play. Be sure to leave a comment or click the like button. Ethereal
Price is in the potential reversal zone for a weekly bullish bat and at point E of an expanding wedge. If price breaks out of the ascending triangle (usually a continuation pattern and sometimes a reversal pattern) it may act as a catalyst to break out of the ascending channel as well. This could mark a large reversal toward the top of the expanding wedge. Keep...
Hey traders! USDJPY is approaching a potential reversal zone that could spark a large bullish move. A bullish bat is nearing completion near the descending trendline. Missed weekly and unhit weekly pivots sit above price. The .382 fib is also confluent with the missed pivot from last week which may signify a nice supply zone. Movement past the 1.272 mark...
Greetings traders! AUDNZD has reached an important level. The 4H shows a nice expanding triangle that may add support near a potential point E. On the daily chart, there is strong support from a parallel channel. In addition to this, we have two precisely confluent fib levels (1.272AB=CD and 1.5AB extension). Since I'm seeing some pin rejection at the base...
After the RBNZ announcement cancelled the last NZDCAD short, a new opportunity has presented itself. A bearish WW has formed with the touch of the 2-4 parallel confluent with the 50% retracement level. We also have a potential E point of an expanding triangle complete which may mark a larger reversal from these levels. On the daily chart, the pair is contained...
NZDCAD is forming a tight PRZ at which two potential harmonic patterns are tightly confluent. This area is also confluent with point 5 in an ascending channel and potential point 4 of a descending channel. Also, an AB=CD pattern, inherent to the completion of Gartley's, is confluent in this same area. On the higher TF, this move could mark the continuation...
There must be a comprehensive text, but I'm too lazy to write it.
This is a text-book snapshot of an expanding triangle. The target is the trendline of the larger corrective structure.
Three scenarios packed in one chart. Expanding triangle in arsenic, falling wedge in red and triple zig-zag in black. Good to go.
Potential patterns setting up on USDCHF opening up a short opportunity. Pending order set at top of expanding triangle with SL outside PRZ for bearish crab. Target set at at S/R zone and unhit weekly pivot. A second target may be set at the Wolfe Wave profit line.
Australian Producer Price Index numbers, released within the hour, could drive the pair upward into the completion of this 3 drives pattern which would produce a nice short opportunity.