We are going to watch for nice break out. If it breaks through the shoulder formation expect it to keep going down. If it breaks above the shoulder line look for a nice LONG position.
GBPUSD has corrected for several weeks now. The momentum indicators are in oversold zone and the price action suggests the correction is over for now and we can see a small rally to 1.6930/80 zones where it could find resistance and start its down trend again. A small rally would also create a bearish head & shoulders patterns and the minimum target towards...
Playing the price action I am going to wait till end of hour to confirm a bounce and then either jump in a LONG position or a SHORT position depending on the results of the next bar.
Bullish Bat Pattern on the 4h GBPCHF. The 886 is being hit at some decent support as well. There is a small showing of 'hidden' bullish momentum divergence (I'd like to see more of a discrepancy but not a deal breaker to see this as a good trade opportunity.) Looking for a retest of the 'B' Point.
Ignore the MA Death Crossover that BA underwent just recently. BA at this very appealing support level should become a necessity to buy up for any fund holding it. There has been some noticeable bullish momentum divergence to boot and a look to the 4hr chart indicates that we should see a little pop in the coming days to keep us out of danger. Look for a retest...
EURGBP completed AB=CD Pattern. It might potentially form a Bullish Cypher Patter. Trade both short & long .
GBPCHF has completed Bullish Bat Pattern and is forming a Potential Bearish Cypher.. Can be traded on both ways Long & Short.
we can see on hourly chart there is a bullish gartley pattern that will confirmed at around 101.118 then not only that, we have bearish bat pattern will confirmed at around 101.700 if we go to 4H chart, we can see the bearish cypher will confirmed if price hit around 102.06. if we go to daily timeframe, we can see the 26.18 trade the double bottom, the RSI...
IDEA IS BASED ONA COMBINATION OF ELLIOT WAVE THEORY, MEDIAN LINE ANALYSIS AND FIBONACCI NUMBERS. THE RATIONALE BEHIND THIS SETUP IS SHOWN ON THE CHART. THIS IDEA IS NOT MEANT AS TRADING ADVICE. IF YOU ARE GOING TO USE THIS SETUP PLEASE DO SO AT YOUR OWN RISK.
GBPJYP is forming a Bullish Cypher which when completed can form Potentially another Bearish Cypher,, So one can take long position and ride till 0.786 retracement as shown and then take the short positions for targets to 0.618 retracements.. Lots of opportunity to trade if patterns work out as expected.. Happy Trading!!
IDEA IS BASED ON A COMBINATION OF ELLIOT WAVE THEORY AND MEDIAN LINE ANALYSIS. THE RATIONALE BEHIND THIS TECHNICAL ANALYSIS IS SHOWN ON THE CHART WITH SPECIFIC TARGET AND STOP LOSS. THIS IDEA IS NOT MEANT AS A TRADING ADVICE, IF YOU COPY MY SETUP PLEASE DO SO ON YOUR OWN RESPONSIBILITY.
IDEA IS BASED ON A COMBINATION OF ELLIOT WAVE THEORY AND MEDIAN LINE ANALYSIS WITH THE APPLICATION OF FIBONACCI EXTENSIONS. THE RATIONALE BEHIND THIS TECHNICAL ANALYSIS IS SHOWN ON THE CHART WITH SPECIFIC TARGETS GIVEN. THIS IDEA IS NOT MEANT AS A TRADING ADVICE, IF YOU COPY MY SETUP PLEASE DO SO ON YOUR OWN RESPONSIBILITY. GOOD LUCK
I believe we will see a break of resistance at the 1.8239 area with a target of 1.83486. This is backed up by the fact that the channel we are currently in is bullish and has been for some time, the entry was determined by confluence of the 618 fib retracement level and the long standing support/resistance we have at 1.81784 which was recently rejected 3 times....
UPDATE ON PREVIOUS POST. THERE ARE MANY FACTORS GETTING INVOLVED. TECHNICALLY THE INDEX IS STUCK ON ITS 9-10 EMA HOWEVER, IF IT FALLS BELOW THERE IS NO SUPPORT FOR A WHILE. IF IT STAYS ABOVE WITH VOLUME IT WILL RALLY. NUMBERS TOMORROW WILL BE TAKEN INTO CONSIDERATION ALONG WITH TRIPLE WITCHING AND THE FOMC MEETINGS. ANYTHING MAY HAPPEN WE WILL BE ABLE TO CONFIRM...
Market looking at healthy break (thank volatility) in long-term bear market. Huge pumps/Long being taken out. I called April 10th the lowest low, I see that staying like that for a while unless down-trend hasn't been broken. Good news, hype and some bitcoin innovations have lead to a small bull upbringing. imo, I believe that up to 650+ is more plausible and...
Bat Pattern Long along with some bullish momentum divergence for CCJ. We touch the 886 3 days ago, but today might be an opportunity to jump in at a good price if you missed the first touch. We saw increase volume at the 'XA' leg and lower volume through the maturity of the pattern with increased volume at the .886 level. I would like to wait for a retest of...