The DAX comes right back into the previous support zone which now should act as resistance. We got a 50% Retracement from the swing high and a 1.414 Fibonacci Inversion lining up perfectly at the outlined area. The RSI also shows that we are heavily overbought. Good luck! Give me a Like if you want to see more of this.
Hello Traders, doing my weekend market analysis before market open I've found a nice potential bearish bat pattern on the 4h chart which perfectly lines up with the 1.618% Fibonacci inversion. Stops and Targets as shown. -Have a great last trading week before christmas. Felix
This is a perfect example of nice harmonics at play. We've got a potential bearish bat pattern lining up at the FIB 1.618 Inversion and the 61.8% Retracement of the previous downswing on the higher timeframe. TGT's as shown. Good trading. -Felix
A couple days ago I presented a potential fib inversion trade that we never made entry on. Here is an example on a lower time frame. We took this trade yesterday in the Syndicate. This is not a trade "idea" so to speak but rather an illustration of that the trade should look like.
Price came into a daily structure zone which also has fib extension and fib inversion levels present along with a termination of a harmonic move, additional confirmation comes from an overbought RSI and a doji on the hourly chart. Stops are placed above the daily structure zone and targets are around the previous highest low.
The EurUsd closed yesterday in the red after a long bullish streak. The current pattern suggests a downtrend with 1.12375 as an objective. If breaches 1.13730 it will head to 1.13942. Breaching 1.1284 will lead it back to 1.12375. The parity's daily Pivot Point is around 1.13243. Its daily support levels are around 1.12755 and 1.12353. Its daily resistance levels...