AS oil sells off to the down side, pattern traders have 2 shots to get involved on. First, the bear bat which is in line with the underlying bear trend. As well as a bull bat which is more clear on the 4 hour chart. Good Trading Guys
Put the fib at the real breakout level (cause that's where the rally started then) and you get an OTE at 252. that makes good sense in combination with the price action we are seing now ... long wicks down to the ote (typical ote buying) !
correction into ote level (around 210) expected. another rally afterwards likely
Sideways, then a breakdown to 0.5 fib level or even lower on the 1.272 time fib of the preceding up move (between 0 and 1) Stop above recent high.
This setup is part of the FX Weekly Markets Analysis goo.gl The WMA setup was based on a Fib extensions confluence zone and a possible daily Wedge pattern. My targets are up to 200 pips for this trade but it can be an even bigger move if we will see the confirmation signals I'm looking in this trade. Today's Ourside Bar gives another potential reversal pattern...
This is just a follow up chart for an earlier idea I had albeit given up on ( ). I've had to update it for the obvious reason that the April 10th bottom didn't hold, thus the time fibs fell out of whack. So this is just the same basic, mirrored time fib study as last time, just built on the latest data available.
watch for a breakeout in either direction and trade accordingly. in case of a breakeout expect the price to reach the indicated targets. use a stop loss of around 1.5% for optimal Risk/Reward Ratio
A good example of how price and time follow some FIB based patterns. Notice how the 38.2% retracement was achieved in the 3rd FIB time zone. Also note how we are approaching the 5th time zone and bouncing around the 61.8 level.
Fibonacci numbers (blue vertical lines) and ratios (purple) applied on time. In case of failure, we break 450, and should expect 260 (last bubbles top) If we keep climbing up and break top resistance expect rally up to 3000 - 4000. Infact targets like 10k for the next bubble are unreasonable. The next bubble will be more like a last breath of the bulls, before a...
Hello, I'm looking at the 4H chart for my Elliott Wave counts and we just completed an ending diagonal 5th wave for the entire down swing which started 15th of July. Now I've bought GBPUSD last night and my long term target is at 1.6785 which is the 38.2 retracement of the whole down move. If you guys missed the last night rally wait for a retracement to 38.2...
Hello All, after an excruciating past six trading days, BTC shook me out of my short position late last night on what was a classic 'head fake' move. Fearful of a winner turning into a looser, I micro managed myself out of a very respectable position only to watch it shortly thereafter go exactly to the original target (UGH!). While there is nothing wrong with...