Gold/US Dollar is another pair that has broken a significant level of structure today completing a Head & Shoulders pattern by breaking the neck line. For me all signs point towards a move higher and there looks to be a lot of opportunity. Like the other pairs discussed today, I like to buy on dips, so a pullback to or into the neckline/right shoulder is the...
Today's $USD weakness has pushed the $USDCAD below previous structure lows, opening up the opportunity for yet another extension lower. I don't know what type of relief that we'll see with price (when do we ever KNOW what the market will do), but I will be eying up a few different levels for my next opportunity to get short over the upcoming days/weeks. Akil
The CADJPY is not a pair that's in my trading portfolio, but I just took a look at it for training purposes. A breakout from this level will offer a lot of potential movement to the upside and is certainly a pair that should be kept on the radar. Akil Stokes
So tonight I wanted to revisit a pair that we looked at this weekend, but first of all congrats to anybody that was able to catch all or part of the painless 100+ pip drop!! (RING THE REGISTER!) Now the question is what's next? and my answer may not be what you're expecting. Despite price pulling back into our previous level of structure, I still have a higher...
Possible set up in EUR/CAD for reversal. It has been bouncing off this trend line, The 161.8 extension lines up close to the trend line. Take profits early. I will not enter this trade until it hits the 61.6 retracement. We shall see what happens
higher time frame is showing defined downtrend and exhibiting trend strength- using moving averages as dynamic resistance/ support -intermediate timeframe shows trend alignment to the downside and price pull back to short term moving average -looking for it trade to pivot low of 78.58 and breakout to the downside on intermediate timeframe -on the shorter time...
higher timeframe showing strong uptrend and excellent trend strength intermediate timeframe showing trend alignment and showed the breakout of resistance area 67.0x area after completing inverse h and s pattern with strong positive volume pressure measured move from head of pattern to neckline is a .55 move which should give projected target of 67.55 and extension...
long term trend is in uptrend with trend strength increasing intermediate time frame is showing increasing uptrend with slightly flattening longer term moving average might be indicating consolidation...forming a tight symmetrical flag in uptrend move should lead to breakout past resistance area of 63.5x area and into areas of least resistance target is the .618...
CADJPY Equal leg correction and 50 % Retracement of wave XA. Possibly CADJPY will continue move higher after this three wave correction. Break-Even @ 50% Retracement of wave AB Targets are (61.8% Extension of XA Related to B) and (100% Extension of XA Related to B) Good Luck!
Wave 3 of 5 could be about to follow.
What do you think...time to sell, or buy into the hype?
Wave 2 looks to have completed in 3 waves between the 0.5 and 0.618 fib retracement levels of wave 1. A wave 3 is likely to follow soon. This wave 2 could also still develop into a more complex pattern such as a flat, if the move up develops in 3 waves to the wave i extreme protect yourself by moving your stop to break even as soon as the impulse is invalidated.
good day everyone one of the basic techniques to master trend pullback and extension as per the example showing using the febs enjoy i hope it helps
Price Playing around 1.618 extension, wait until price breaks RSI main trend. Bearish divergence has occurred.
Note: I should have extended the minimum target level down to the 1.618 fib extension of wave 1. Wave E of a Triangle in Wave 4 has completed and Wave 5 is likely to follow. Wave 2 has completed as an Expanded Flat just after the .786 fib retracement of Wave 1. Wave 3 is likely to follow this Wave 2 Expanded Flat. Pending order has been set on the break of Wave...
price facing strong support double ABCD, 1.618 ext and daily trendline. will look for buy setup on small tf
Hi All, I am watching this pattern for some while. I do not like the fact the price retraced almost 38,2% already before triggering an entry => some short term buying potential is already gone. In addition, I will pay attention to the 1,272 & the 1,618 extensions of the latest swing as potential alternative entries, instead of entering aggressively. I see price...
Looking at recent high-to-low and extending using simple 1.272 and 1.618 Fibonacci extensions. Common trade plan we see successful traders such as Fib Queen utilize. First Target $1282 Stop Set 1244 Time May 3 Second Target $1306 Stop Set 1276 Time May 11