What's going on everyone, I hope you all had a great weekend! Today I'd like to provide a short-term technical outlook on Binance Coin (BNB/USD).
BNB/USD is in the final stages of forming a bullish gartley 886 formation on the 1h chart, providing a trading opportunity with a 1:2.5 risk to reward.
The measurements for a valid gartley 886 are detailed below.
Quick post ahead of market open, I'm looking at EUR/USD on the 4h chart with a potential bullish AB=CD setup completing at 1.10440.
Structure looks great, once price tests the PRZ we will be able to gauge further price action. As always I will keep you posted on the patterns progress and if the trade is executed!
Enjoy the rest of your Sunday :)
We see the formation and completion of this AB=CD harmonic pattern on the 4 hr chart. Price action has also reached a major resistance zone at the completion of this pattern. The completion of this AB=CD pattern signaled us to take a short position with our take profits set on the green zones. OANDA:GBPNZD
Overall move is still bearish.
But what we're looking at right here with this mini trendline is confirmation of a continuation to the downside. I only see two possible areas where it can still bounce up before rolling back down as a swing trade.
I looks like a possible double bottom formation could happen to create the bottom of a bearish harmonic, then...
Gold is still in pullback mode still respecting the harmonic for the retracement.
The only way this will become a bullish trend is if it breaks the 1298.86 zone. Then, it will have broken the overall trendline.
But for now, waiting on the retest of 1282.70 zone, then continuation up before it's next drop, which will be bigger than the others when if happens....
My harmonic was too small apparently for last week's markup because it created a bigger one off the weekly for a 140+ drop. So marked it up for this week analysis.
The bearish trendline is major respected thanks to the long wick rejection from the 1.51498 area.
Price even broke through a solid support level at 1.50138 to confirm we are in a downtrend.
Gold is still a long term swing trade for the short.
But a harmonic has formed to confirm a pullback is about to begin. Going to take this one to key levels instead of 4hr TPs this round.
The Bank of Japan is not expected to make any changes to its policy when it announces its decision on Thursday. Kuroda indicated recently that the BOJ could provide additional easing if the price gains lost momentum.It seems that the markets took it as a bluff.
Our intraday trade setup based on Head&Shoulders pattern has reached its targets. - See Attached...
MTL Bullish Gartley Potential Reversal Zone.
Short term targets (38.20% and 61.80% of D low to A high) for a type I or a type II reversal and stop loss (100% of XA) identified. I am bullish mid term.
Good trade and good luck everyone.
Pair is now forming a potential bullish gartley pattern completing at 1.50785. RSI is confirming buy signal as its reading is below 30 already, so we might see an RSI divergence at the completion if bears push price any lower. ATR based stops below the Gartley starting paoint X.
I remind you that this is just my vision about possible market movements. If you have...