Demonstrating geometric and mathematical harmonies overlaid on top of the Dow Jones Industrial Average. The patterns are drawn from the low of the year 1932 to the highest price so far in the year 2015. The lines are aligned with a potential top in the middle of the year 2017. My method I centered the entire chart to the year 1975, because 1975 is in the middle...
Look for a PRZ in the eye
Hello fellow traders, Hope you've all had a productive weekend! Still Bearish on this pair, I've heard a lot of people saying the bears run is over but one of the first things i was told a few years ago when I first stumbled across forex trading was...trade what you see, not what you think. This is not a guessing game its a skilled craft in which we let price...
Although there is still room for the current drawback to expand even further up, it still has a lot of barriers before the long-term downtrend is broken. For now, the downtrend remains in force with two touches of strong support at $210-$220 that may serve as a breakdown zone. If and when the price returns to this level, we may get a quick snap to $170-$180 for...
Interesting situation. Nice fibo confluence , channel support, PA support. But there is also this nasty bearish engulfing formation, ofc long signal is much stronger than possible breakout but you never really know :). For now I dont see any good entry point but its for sure worth looking for. I suggest to sit tight and wait for good price action signal.
Chart analysis based on ancient methods
1. Price respecting bigger Timeframe weekly geometry (rising wedge) 2. Strong Supply zone breached December high broken 3. New demand zone created 4. $ index has strong bullish momentum 5. 2002 supply zones are next resistance targets! ***TARGET 124.50 *** I am already long since 120.90 and stop is below the demand zone that broke the Daily Supply and December...
Price has formed a potential symmetrical triangle which indicates price is being squeezed and funnelled into this geometrical pattern. A strong bearish momentum previous to this pattern indicates that a breakout to downside has a higher probability of surfacing compared to a breakout to the upside. There are 2 possible entries: 1. Fresh Supply @133.655 2. A break...
I have been waiting for price to hit the 133.00 handle because I see strong support here. 1. Geometry structure 2. Demand Zone 3. CD potential leg 4. Aggressive entry for low risk high reward 5. A more conservative entry would be to wait for confirmation candles Lets see R
These levels (LOWS @ ~1.0350) go back to 1995 - 1997. We are at huge 20 year triple bottom lows. Whilst there is every chance we could overshoot and break these lows I expect a big reversal very soon and plenty of upside going forward. Watch out for false breaks to the downside followed by sharp reversals back...
Pretty self explanatory as per the chart. Patterns and measured moves (equal distance, i.e AB=CD) are color coded to keep things simple on the chart as there is a lot here. There are plenty of retracements everywhere (the top is a big 50 I'll show on another chart). There are also plenty of smaller harmonic mpves but these are the main ones for our purpose going...
Price has plunged lower through its Action line and its newest Median line. So far, price is failing to make it back to these lines even though Support came into market on the 3rd visit to 1.3678. With 4 settlements above this level, the probability increases for price to retest lines.