Bearish Cypher pattern on its way to forming on Platinum priced in US dollars.
Upper black line shows good previous structure, which I use as a stop loss.
Lower black line shows good historic support (zoom out to see more), which the larger green box indicates as a third target. The other two profit targets are based on Fibonacci retracements.
The hourly DAX chart shows a potential head and shoulders formation to support an uptrend.
If the formation is correct the price could raise up to 10,000 or at least to 9,000 to test the high from the 27th of January.
I have already a position in this trade which I opened because of a Triagle pattern on the 5 minute chart.
Next entry for me would be a...
Getting prepared for a hopeful bullish cypher pattern to form here. 3 points of resistance against the line leading to our entry point, so hopefully we see a continuation of this short-term trend to form the cypher.
Unfortunately not the best risk/reward.
I'll be looking also to see if the RSI is in an oversold (or nearly oversold) position if the price reaches...
It has broken the up trend on the hourly chart I expect it to reverse as the trend line will act as a resistence.. Furthermore the EMA200 and EMA 50 will act as a resistence also. Not sure if it will continue downward below 1.4211 or will go back to test 1.4300 level again.
Bearish Cypher Pattern on USDJPY Hourly chart.D point has stopped in a resistance point making the reversal stronger.Stop loss should be placed in the next resistance point and target 1 is at 38.2 fib level,target 2 61.8 fib level.
TRADE: BAT PATTERN
Waiting for a Long opportunity on the
EUR/GBP 1 Hour time frame.
NOTE: These are potential trade opportunities. Please
re-analyse the trade before executing.
Just take a look at the chart, we are in a good position to go Long on NYSE:GE General electric, if you look out for valid reasons - Below are few :
1) In 4hr chart, we have Double Bottom & RSI Bullish Divergence
2) In Hourly chart, its a Triple Bottom with RSI moving upwards
3) Check the Support area marked in Green, its along previous Resistance formed in 4hr...
Pair is currently sideways after making some highs. If kumo breakout below occurs, allow to break 200SMA for confirmation of trend change. Watch for break to the upside as well in case of trend continuation.