Hi Traders, AUDUSD Reached 38.2 Fib as expected and we have a lot of confluence there. However on Daily timeframe it is getting overbought so we need to be careful. If the market shows rejection at 38.2 then we can add to our long positions else we will have to wait for 61.8 level where more confluence is. If the entry has been taken at 38.2 then stops will have...
USDCHF as we observed (see related idea) had a pattern completion and we went long in the anticipation of 38.2 Fib level which has not reached yet. The market has created a 50% retracement and now could be forming a bearish at pattern completing right where we have our long position target i.e. 38.2 (0.97917). We can add to the long position when 0.97438 is broken...
Hi Traders, In this top down weekly analysis we see where EURUSD is going and what has been causing to reverse at various points. We also see how Fibonacci plays out in the market along with other factors such as trend lines, support and resistance, moving averages. We look at how to identify W and M patterns and use then accurately with fibonacci ratios on...
AUDUSD Waiting for 0.693-0.69 Level To Go Long Again after Long Position Target 1 was achieved . This time we can target Target 1 and Target 2 both.
The entry zone is between 0.69300 and 0.6900
USDJPY A Bull Opportunity Awaits If This Happens:
1. USDJPY is trying to break this trend line on weekly time frame. It can be a little hard because it coincides with 1.618 Fib extension and 200SMA.
2. However if this breaks , we are looking at 2.618 Fib extension confluence with 0.886 level as the next level. That can give us a good opportunity to go long
3. But...
EURAUD Bullish Fibonacci Confluence
Technically it is not a BAT pattern however it has a confluence of 1.618 and 0.886 Fibs creating a good confluence.
H4 chart has 20SMA at the same area making confluence stronger
We have a cross trend line adding to the confluence
Hello friends, traders, everyone. In our last analysis we attempted to get a better handle on this, and Fibonacci helped us figure this one out.
Fortunately for the bulls, GOLD has apparently been waiting for an opportunity, because that breakout was violent!
Overall, I am happy with the way the last trade played out, bulls should take some profits here as we...
USDCAD has fallen sharply today but we could see some support come in around this level at 1.133200. This level its self has provided some good support / resistance in the past. We also have the 61.8% Fibonacci retracement level of the rally from the 3rd of April low and the 78.6% Fibonacci retracement of the rally from the 19th to the 28th of March. The S2 daily...
GN is at overlapping trend fibs, pitchfork, and at a spot in the pattern where it could make a "C" wave to break the trend line. It is over extended and showing divergence on all time frames, on TDI and bollinger bands except for the monthly. It is possible that it did complete a contracted flat pattern and is on its way up considering how this wave looks though....
See that bottom Bollinger Band?... Where it meets the Ichimoku Cloud? I only throw on indicators like that when I get feeling froggy. But considering the overlapping fibs, I expect XAU/USD to react when it hits that band. It may not reverse, but I would think it would at least need to consolidate in order to turn it down. I talked about the pattern I think it is...
Hey guys,
I normally post trades that are at least 1:5 risk/reward ratio but being that this is such a sure shot, I figured why not.
There are a number of signals in the smaller time frames that say IOTA is done with its third wave. Among them is an ending diagonal fifth wave of a third wave, so for sure our third wave is done. With that said, we can look for...
....Ok...... So I spent some more time to go over gchf since it has extended. I would like to point out that it did a W-X-Y double combo pattern in the form of 7 swings. For this pattern you would expect equal length to 1.236 extension. Hit 1.236 today, along with the .764, which would also be conducive with a continuing pattern which would need to come down to...
