$CHK Purchase: ChannelBreakout LE Signal. StochRSI indicates currently oversold, but trending back up to 20. MACD converging, fast line soon to cross over slow. Positive uptrend in CCI. Conservative PT of $8.00.
DXY has been gaining ground consistently in the last weeks and a strong bullish engulfing candle suggests a price increase in the following days. Going LONG in a 1:1.35 trade. --- "Know what you own, and know why you own it." - Peter Lynch
Pro's - good reversal pattern. - price sat at good support. - recent break of downward trendline, now retesting. - 0.5 Fib retracement level from previous swing low to high Con's - Trending against the trend - Trading through EMA's including 50EMA on daily. Thoughts? Please comment below
AUDUSD shows a divergence on the 4-hour chart. The support // resistance lines in green are old made back in time from the daily chart. Fibonacci confluence shows that the 38.2% retracement-line could be a very likely first target. Good luck!
1. Look for price to go down to the 2nd support level of .5. 2. Price may retrace 2 times at .5 & .382 before the big breakout "Long" 3. Regardless the price will break through the channel by 5/30/2016 4. The Uptrend will start once this happens. 5. If the price does this look to enter between 1.30028-1.29700 on a"Long" 6. Profit Target is between (A)1.31439-(B)1.31266
Firstly, we see in this chart that buyer pressure is much higher than selling pressure at this juncture. We are in a critical space where shorts should have easily broken the barrier but they barely grazed it. As you can see RSI is holding strong and stable through this "dump." Volume is a bit low, but that's how it is before the surge of buyers see money pouring...
HERE ME MIGHT SEE A POSSIBLE BULLISH CYPHER PATTERN SETUP. WE ARE ALSO AT A STRUCTURE LEVEL WHICH WILL ACT AS SUPPORT FOR OUR TRADE DESICION. D LEG NEEDS TO COMPLETE AT A 0.786% STOPS BELOW THE x LEG TGT1 0.382 TGT2 0.6185
HI ALL, We might see a Bullish Cypher pattern setup here. We need to see a D leg Completion at a 0.786% for it to complete. Stops above X leg TGT 1 0.382 TGT2 0.618% Best of luck :)
Bullish cypher setup here on the 1hr chart if price action can come in some next week. Looks like a head and shoulders is setting up here. That would be a good reason to get aggressive and sell this C-leg of the pattern. Buying the D-leg tops below X-leg and targets just under the 90.5 even handle if i get filled.
Confluences: 1/ With the trend 2/ Retest with pin bar showing us deceleration 3/ MACD bullish divergence 4/ TL bounce 5/ 61.8% fib bounce 6/ Bounce of the 1.95 level which is a weekly level
D LEG COMPLETION AT A 0.886% WILL GIVE US A BULLISH BAT PATTERN COMPLETION WE BASICALLY HAVE TO BAT PATTERN HERE DEPENDING ON HOW YOU LOOK AT IT AND WHAT YOUR RATIOS ARE FOR A VALID BAT PATTERN
IF WE SEE A 0.886% OF D LEG THEN WE WILL HAVE A COMPLETION OF A BULLISH BAT PATTERN RSI IS ALSO AT EXTREME OVERSOLD CONDITIONS