Hi Traders, DAX today reached its channel resistance and also resistance line around 11,620. I expect for him to find resistance in this zone, however, It wouldnt surprise me see him making another high tomorrow to touch that 0.618% fib at 11,731 and fall, HOWEVER, we need to close the daily bellow channel line to show that sellers put some short orders. Stop...
Confluences: 1/ trend 2/ PA ( high test followed by inside bar ) 3/ Monthly & Weekly resistance of 0.7060 4/ 50% fib retracement additional info: * H&S - pattern on intradays * a lot of traders are already short since the 0.7135 resistance test
COMPLETED BEARLISH GARTLEY PATTERN: AB=0.618XA; CD=1.27CB XD=0.786XA ZONE FOR SELL: S/L above 0.97500 Target 1 = 0.94930 Target 2 = 0.94300 Target 3 = 0.91500 Thanks for your likes and comments!
THE POTENTIAL BEARISH BAT PATTERN: AB=0.723XA; CD=2.24CB XD=1.27AX ZONE FOR SELL: S/L above 124.480 Target 1 = 123.990 Target 2 = 123.860 Target 3 = 123.340 Open your position after news (Gross Domestic Product Annualized (Q2)Preliminar). Thanks for your likes and comments!
Plain and simple 2618 setup. Stops below 123. Target 1 at 123.750, take half off and lock in Breakeven. Target 2 at 123.970.
Wave 4 has met a high probability reversal level at the confluence between a .382 retrace of wave 3 and the price zone of the previous degree fourth wave. Wave 1 time to completion provides a forecast for wave 5 completion time. Price range of wave 1 as an extension from current levels coincides with 1.272 extension of wave 3 and provides a target for fifth wave...
LOOKING FOR A BUYING OPPORTUNITY AT MY BUY ZONE WHICH IS IN CONFLUENCE WITH A FIB LEVEL AND A 3RD TOUCH OF THE TREND LINE. A BREAK OF THIS BUY ZONE WILL LEAD DOWN TO MY NEXT BUY ZONE. FUNDAMENTALLY THIS TRADE IS ONLY GOING IN ONE DIRECTION IN THE LONG TERM BECAUSE THE BOE (BANK OF ENGLAND) STATED THAT THEY ARE CLOSER TO RAISING RATES WHICH IS EXPECTED TO BE THE...
we can see 2 bat patterns on the 4h timeframe: 1) the first one close quite above the 1,272 fib level ( considering trend harmonics) so this might nog be so significant, though I believe we will see a little drawback in the red square 2) the second one closes right at the 0,886 fib level of the freefall in January. It's also not that far away from the HC in...
M- showing loss of momentum, bearish candle couple months back, few pin bars since then. W - LL LH rejected by 8ema, respecting channel D- respected 61.8 fib level which was in con with top of channel and 3rd TL touch also lovely PA on daily. target is 127 ext buffer 10530 which is in confluence with bottom of channel and also 61.8 fib level on daily from...
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...
expecting some buying pressure at 122.00 psychophysical level. break retest continuation patten/Resistance became support. Also in confluence with he 0.382 fib level. Long term target still the same at 130.000
Yesterday’s news gave us a lot of continued strength in the GBP blowing right past previous structure without a pause it seems. So the question is what’s next? Well going off of the basic price action principles of higher high, higher close, I’m expecting the bullish move to continue. The next stopping point that I have on my radar is around 1.6200 even handle...
EUR/JPY finding resistance at 139.50's, price action on 1H + 4H looking indecisive/bearish. Long term trend line break adds further confirmation of short bias, short term down trend has formed on 1H time frame. Three tests of structure resistance on 1H time frame also indicates lack of upward momentum, short term bullishness is only abouve 139.50's. Looking...
Nothing complex about this trade. There is previous support which meets the 0.382 Fib level. Decent risk/reward ration which obeys my trading plan, stops just below structure lows and targets just below structure highs.
TEXTBOOK SETUP. PULLBACK TO THE 38.2 FIB WHICH IS IN LINE WITH STRUCTURE LEVEL. AUD IS STILL FUNDAMENTALLY WEAK, THE CURRENCY NEEDS TO GO LOWER TO SPUR GROWTH SO PAIRING IT AGAINST THE POUND IS A HIGH PROBABILITY TRADE BECAUSE THE POUND IS THE 2ND STRONGEST CURRENCY AFTER THE DOLLAR. WE'VE HAD A TWEEZER BOTTOM AND SUPPORT FOLLOWED BY A HAMMER REJECTING OFF THIS...
A potential short entry zone if price retraces into the orange box. We have some structure looking left and some fib confluence in there as well.....
EURUSD broke out of a ascending channel last week and nose dived down to a strong structure level of previous resistance and now possibly support. I went swing low to swing high noticed price also met the 50% FIB level. .Price has also started to slow down at this level so we may see a reversal.
Long term trend resistance and Fib Resistance channel lead me to believe that CP Rail is about to take a dive. A healthy retracement is required for long term growth to continue. Comment your thoughts! Happy trading