Idea is based on a combination of Elliot Wave theory and median line analysis. In addition Fibonacci extensions are used for target placement. The chart contains the rationale behind this technical analysis along with specific targets and stop loss. Good luck
Idea is based on a combination of Elliot wave theory and median line analysis. In addition the application of Fibonacci extensions and retracements is used. This idea is not meant as a trading advice (none of my idea's is) but rather as a refelection of my thoughts about the progression of future price action. Good luck
Idea is based on a combination of Elliot wave theory and median line analysis. This idea is not meant as a trading advice (non of my ideas is!), but rather my thoughts about the progression of price action in the long term.
Idea is based on a combination of Elliot wave theory and median line analysis. In addition a simple RSI strategy is used to indicate price action's behaviour. The rationale behind this technical analysis is shown on the chart along with specific targets and stop loss. Good luck guys!
Yahoo has produced two high probability patterns that would fit well in a bearish channel. The cypher (purple) formed right after the rejection candle at $32.17 at the 1.27 extension measured from the X to A leg. Price also put in a double top at $39.64. A Gartley pattern (red) shortly appeared right after. The kill zone for the bearish Gartley pattern is at...
NASX broke the previous higher low on 4/15 after completing a subdivided 5 wave decline of wave 1, indicating a trend reversal. We appear to be making a subdivided a,b,c pattern which will complete wave 2. Note that we are in the 78.6% and 61.8% internal retracement of Wave 1 as well as the 100% fib extension of waves a & b of Wave 2. If I am correct, a...
Bat pattern completes @ previous double bottom from where price rallied 300+ pips. Current price level will be interesting to watch for bulls. 1.4655 price handle is key as break of this will accelerate the depreciation in value for this instrument. Current price is exactly at PRZ zone lying between 0.886% ret. (1.4700) & 1.618% ext. (1.4680). Sustained break...
I see 3 different fib patterns. The light blue completed when usd/cad reached 108.75 last night. this setup the next leg (dark blue fib), which would give us a price target of 108.00. If you look back further we will see a longer term fib move (light green). the 108.60-90 is a key area. if it breaks below, we have room for this to drop all the way down to 106.00
If this wave count based on fibonnacci extentensions is true, we should see a big retracement until the 1630. If the price goes above 1900, this wave count will be invalidated.
As always, I love price breakouts and using Fib levels to understand where the market should head to next. If we can see USDJPY break above this downward trendline, (which will then become support) and if we can see a little price action remaining above it, we should look at this continuation of the ABCD pattern. However, we have to be aware of this new downward...
EURUSD just dropped down to a support level that i have pointed out. we might see a little rise and bounce of 38% retracement. Then is it headed down to the 1.618 (price 1.3770) which is close to same value as FIB drawn from yesterday.
Price has now traded the first target of ABCD pattern that was completed Apr 4 and is standing close to the horizontal neckline of the H & S pattern at 1,5025-30. The mini target of the whole ABCD stands at 1,5120 level. Technically, A retest of the neckline will either confirm or reject the H & S pattern. Selling into this S/R zone, stops needs to be placed...
Price has completed a full ABCD pattern from Sep 2012 and also a minor ABCD with 161 extended D-point. Since the price has been attempting to reach targets. First target was the full swing CD move of minor ABCD. The technical target hasn't been reached yet (1,0790). One scenario is more bullish. Since price completed the large ABCD prematurely w a fast latter CD...
Inverted Head and Shoulders is forming. Look for a safe long trade entry after the H&S confirms by breaking + retesting the red neckline. Potential for less safe trades in the meantime are indicated. Like my Charts? Feel free to donate : ) BTC: 1F1jpj7X3oyKHpGJ98chr39NvpzSXuPrnC LTC: LbsfK54KWQnyELCRTg2e9vfy1R5X7Nkuwa