Close below previous pivot low. Aiming for the 1.272 and the 1.618 extensions.
During the Asian session, the 61.8% retracement of yesterday evening's move held its own. Down trend could resume once profits have been taken at the 27.2% extension by the accounts that have been defending this price level. Tight Stop Loss of only 5 pips as this idea is based on the assumption that the bulls will unload and price will fall sharply after 0.8032 is reached.
THIS HAS BEEN ADDED TO MY WATCHLIST - PRICE LOOKING EXTENDED OVER A NICE PERIOD OF TIME.....LOOKING FOR PRICE TO SET UP AS MY TRADING PLAN SUGGESTS AND GO LONG... LET PRICE DO THE TALKING,.....
WTI Crude may bounce off the rough level of 28 either reversing direction or pulling back as as deeper correction due a loss in momentum to the downside evinced by Stochastic bullish divergence .
This Chart shows the Fibonacci Magic. 79% Retracement Level + 127% + 161% Extensions are important and easy to spot. Should i continue..?! =) Hope ya know how i drawed da lines..
Morning! Looking at the correlations in excel for today, EUR/USD + GBP/USD have a very positive correlation (93.9) for the hourly This means USD is countered, i.e it becomes EUR/GBP > also waiting on retracement from the FIB EXT level of 127.20%, this will complete D, and will be a good time to sell if the price reverses from that area. Elliot Wave - I have...
Hi Traders, There are two trade setups I have identified on this pair, one long and one short. The bullish 2618 setup is as follows: Entry - 1.33430 Stop - 1.32950 Target 1 - 1.33930 Target 2 - 1.34180 The bearish Gartley setup is as follows: Entry - 1.34010 Stop - 1.34450 Target 1 - 1.33670 (at the 38.2% retracement of the CD leg) Target 2 - 1.33440...
EJ may have just put in a 3rd touch on the weekly decending trend line. The month of June EJ retraced to the 61.8% fib, will it hold? Last week produced a hammer bar and this week may end as a bearish engulfing with a possible CTL break. Could we see the lows of 126.000 and further down to 119.540?
This is a follow up of the last elliott wave analysis published 8 months ago www.tradingview.com The basic change is in the extended 5th. The diagonal as we expected did not work due keep the original wave count as originally stated is impossible due now will see the 3rd wave as the shortest. This can't be even in diagonals. So the best way to update it is by...
Here we have a completed Gartley pattern in the positive deviation area of the last 100 and 200 moves. According to my strategy , this market is likely to reverse down into the negative regression. As of right now, the market is retesting the high at point D and we should see a trade completion in the next couple of hours. Anyone that has been following my trades...
I expect a mirroring of the price action from the left side of the B point. Thus the CD leg should have the same (negative) slope as the XA leg. Then I noticed that it would form a harmonic pattern and I checked out the harmonic ratios. Turnes out that all are fib ratios. The OTE sweet spot is actually a fib ratio, too, but not many know it. Out of interest I...
VIDEO: www.youtube.com Hello and good morning traders. Looking at taking a short on the EUR/USD 4 hour time frame. Stops and Targets are in place and following our trading plan with our trades. Please watch the above video for analysis. Star Prosper Philip Stewart
herre we see a fairly solid gartley pattern on the gbp jpy charts. like all gartley patterns , I expect the market to complete the patteren , and then continure to rally to the 1.618 extension of th BC leg. I have support form the linear regression channel, which suggests that the market is low, and should rally back up into the positive deviation. I have places...
VIDEO: www.youtube.com Please watch the above video for today's and this weeks trades. Best of luck today in your trades and let's keep an eye on this bearish cypher pattern together. Star Prosper Philip Stewart
Hello traders, I'm looking at the EUR/GBP chart on the 4 hour time frame, but on the 15 minute, we've had a nice simple double top / 2618 setup. At the same time we have a trend continuation move and a 618% retracement from our swing high to swing low right where the double top has formed. We have taken the opportunity to short the market with stops and targets...
Here we see a butterfly pattern on the New Zealand , United States charts. I have given the market some space to complete the end of the butterfly pattern before continuing in a bearish trend, because the closer to perfect the pattern is , the more secure of a pattern it will be. I have placed all of my order actions in the usual places, with one exception....