On a daily time frame, GA has formed H&S and it's in a downtrend, so overall bearish setups are preferred.
Price is now on a very good position for sells, we have:
1. Clear downtrend
2. Retesting a structure
3. 4H 50EMA
4. 50% fibs
5. Bigger pattern in play
All I want so see is 30m wedge or pennant just so price can move sideways to touch the trend line, and ofc...
The price on AUDUSD has followed the expected movement as outlined in the previous analysis . Currently, the price faces a combination of four resistance levels that need to be cleared before moving further down: a weekly trend line, a yearly trend line, the key level of 0.68650, and the 38.20 Fib level.
It is probable that the price will bounce off these strong...
Formation of inverse head and shoulder pattern
Current Price - 7237
Target 1 (diff from left shoulder) - 7650 - remaining upside 413 (5.7%)
Target 2 (diff from right shoulder) - 7825 - remaining upside 588 (8.1%)
Stop Loss (low of last candle) - 6863 - downside risk -374 (-5.1%)
Disc - invested, for...
4H time frame
ETH forms a potential HS
According two uptrend(UT) lines, there are 2 opportunities to open short.
Entry: if getting resistance from short-term uptrend again(~1577)
TP: 1465 or reach lower uptrend
Entry: BO the long-term UT (~1521)
TP: 1405, 1340
SL: High of right shoulder (~1663)
Notice: All price are set...
today I was surfing throw forex pairs and see a great opportunity in monthly time frame at usdjpy pair...
as you can see on chart price formed a head and shoulder pattern and target of this pattern is on $165, although break out neckline very well so it is very possible to reach target...
there are two scenarios for upward movement:
GBPAUD break the neckline of the head and shoulders pattern, now making a retest on 4h, looks like we will get ABC pattern. Tp for this move is fib 1.272 or around 1,7135.
Ultimate TP for wave 3 on 1d chart 1,700.
I'll keep posting updates on this idea.
AUD is the mover of the day after CPI yoy jumped unexpectedly to 8.4% in Australia up from 7.3%. Thats big and can potentially mean that RBA will be foreced to raise rates further. AUDUSD is moving aggressively higher, but still trading at some key resistance levels here, with fifth wave. A lot of major currenices are trading at resistance vs USD, so if suddenly...
If price does reject from this resistance (Hopefully it doesn't) and come back into the macro value area price could hit the golden pocket retracement of that move up which has a lot of confluence such as an old and very respected weekly s/r a naked daily point of control and a daily s/r. If price can bounce from that area with market cipher printing a trigger...
Zomato stock has been in a steep downward trend. It has formed a small head and shoulders pattern and moved below the 50-day moving average. It has also plunged below two important support levels. Therefore, I suspect that it will crash by about 20% to its all-time low.
The gold price has broken and remained above the neckline of the head and shoulders pattern at 1805, but there is a lack of momentum, as indicated by the RSI indicator, which shows divergence at the daily time frame.
That makes sense when it's almost touching a monthly trend line from March 2021,
I expect the scenario to go longer to reach the trendline and then...
The GBPJPY price is in Bearish Head And Shoulders🧐
The neckline is broken & retested🔥
so, i predict a bearish move 📉
if you agreed with this IDEA, please leave a LIKE, FOLLOW or COMMENT!
NVDA close to completing its primary pullback following this head and shoulders pattern. It's on its way to reaching bouncing off support on fib retracement, daily pivot, and most importantly the previous neckline attached to the pattern. I predict today we will possibly see a large rejection candle approaching the neckline and will be the last day of the pullback...