Here we see a developing Bat pattern in a triangle or wedge pattern. we know that wedges generally rally out at 3/4 of the triangle, be it up or down. So what we should expect to see happen here is that the market will rally down into previous structure around the 1.618 extension of the AB leg. when the market does so, it will complete the bat pattern...
I see a Bat pattern in the AUD/JPY 30 min chart, around the 96.810 area. The market here seems to be in an uptrend, so it isn't bad to assume that the market could break out of consolidation and continue trend. But I believe since the market will be testing highs for the year, the market will complete the pattern and reverse down into the 1.618 extension of the...
If you are seeking the answer why has the SPX500 stopped at this strange area and stucked, I got the answer :) The golden number is a key this time as almost always in technical analysis. This two lines corresponds with 1.618 of two different market moves: 2120 is the level of 1.618 extension of the previous bull run ended in late 2007 2072 is the level of 1.618...
This Gartley pattern formed at the end of consolidation suggests a long movement from a monthly low. if there is a break out of consolidation , the market will likely rally up into the 1.618 extension of the BC leg, around 1.45530. i have placed my order long keeping the risk reward ratio at 2:1. I have placed my stop at the lowest low of the Gartley pattern, and...
Flag patterns are one of the many simple patterns that I used to trade before I was a consistently profitable trader. Like many of the strategies that I used back then, I assumed that flags didn't work because i couldn't make profit off of them. After realizing that it was ME and not MY STRATEGY that had the problem, I find myself implementing a lot of what I used...
Hey traders the NZDUSD has offered us an excellent 2618 opportunity and I wanted to take a minute to show you guys how I use the Fibonacci tools to break down a potential reversal zone and really dial in on where i want to place the trade at. Here's a link to a short video i did this morning on this pair. tradeempowered.com Akil Stokes Chief Currency Analyst...
- Nice risk/reward ratio - .618 fib retracement - previous support
basic textbook setup. price has retraced into a key resistance level which also has 2 fibs lined up with it aswell (38.2% and 61.8%). double top has now formed and price has bounce off the Resistance forming a pin bar/inverted hammer. Target at the neckline of double top.
This Pair is clearly currently bearish with the creation of lower highs approaching a monthly support. - Bearish MA Cross - Lower Highs - Rejection off 50% fib level I believe if price can break the monthly support at the pshychological level of 127.000 I see the completion of a possible D leg at around 121.000.
Grids are built on one uptrend and one downtrend Fibonacci Channel, adding new channels as extensions. I solely use it for orientation purposes, provides additional info of the trend and positioning of the price. For now, after the upswing got once again rejected by the 0.236 downtrend fibo channel line on 6th of April, we have entered a new both uptrend and...
LOTS OF UNCERTAINTY WITH GBP BECAUSE OF THE ELECTION WHICH IS CAUSING THE POUND TO DEPRECIATE. PRICE BROKE OUT OF THE RANGE LAST WEEK AND IT IS NOW LOOKING TO RETEST THE RANGE LEVEL (SUPPORT TURNED RESISTANCE). THIS IS A TEXTBOOK TREND CONTINUATION PATTERN (BREAK,RETEST,CONTINUATION) IF PRICE MANHES TO RETRACE BACK UP TO MY SELL ZONE I ALSO HAVE 2 FIB CONFLUENCES...
Ok I know theres a lot of retail traders out there waiting to get in on this pair for the next move down these are my views on it at the moment ive got a scenario for a long idea also but i see it going short too at least 0.7200 for now... Note: Blue areas of support/resistance are Monthly Purple areas of support/resistance are Weekly Monthly ...
OK so i got a little bit excited analysing this pair, ill give you a breakdown of the higher timeframes and leave it to you to find a safe entry on the lower timeframes! Monthly MA's crossed bearish Bearish engulfing candle (January) Broke major support at 137.000 & Retested Next monthly support at 115.00 Weekly Trendline broken Weekly engulfing...
BREAK RETEST CONTINUATION PATTERN. PRICE BROKE OUT OF SUPPORT WHICH HAS NOW TURNED INTO RESISTANCE. PRICE HAD TESTED THE RESISTANCE THEN BOUNCED OFF FORMING A INVERTED HAMMER. THIS LEVEL IS ALSO IN CONFLUENCE WITH THE 0.5 FIB LEVEL AND 20 SMA IS WHICH ACTING AS A DYNAMIC RESISTANCE
IM ALREADY SHORT IN THIS PAIR BUT IF PRICE RETRACES AND TAKES ME OUT OF THE TRADE THEN THE NEXT LEVEL I'D LOOK TO SELL IS AT MY CLUSTER ZONE/SELL ZONE. IVE GOT LOADS OF CONFLUENCES AT THIS LEVEL WHICH ARE THE 0.5 AND 61.8 FIB, SUPPORT TURNED RESISTANCE STRUCTURE LEVEL, MAJOR TRENDLINE, DYNAMIC RESISTANCE (50 MA) AND A NICE PSYCHOLOGICAL ROUND NUMBER (1.03000)....
This is a study of using the Fib Speed Resistance Fan to time a new breakout of gold price action. Fans of fib fans, I'd love to hear your thoughts. (Retrospective study. I did not trade this)
The best advice I could ever give anyone about the market is to "Want What the Market Wants." Do not want what you want , that will produce anxiety and doubt. Align your personal beliefs with that of the market and then trading will flow like a calm river of success. So that raises the question: What does the market want? On a weekly timeframe, the market has...
PRICE AT AN IMPORTANT KEY LEVEL AND JUST BOUNCED OFF THE RESISTANCE TURNED SUPPORT FORMING A DOUBLE BOTTOM. ALSO THIS KEY LEVEL IS IN CONFLUENCE WITH THE 0.5 FIB LEVEL. GBP AVERAGE HOURLY EARNINGS IS EXPECTED TO COME OUT BETTER AT 2.2% AND THE REASON WHY THIS IS IMPORTANT IS BECAUSE THE BOE (BANK OF ENGLAND) SAID THEY'LL BE MONITORING HOURLY EARNINGS DATA. IF...