I first want to note that this is a speculative idea, I may be seeing what I want to see instead of what is actually on the chart. But, with that said, there appears to similarities between the 2008 chart and the current chart. Additionally, if you hover over the blue ovals - for lack of a better word - on the chart, they should provide some context.
Both periods...
For today will focus on European Central Bank (ECB) Governor Mario Draghi's speech this afternoon.
Draghi's last attempt to talk up the prospect of further easing at the ECB’s March meeting had the unusual effect of sending the euro higher.
What we could see on the USDCHF is a double top. So I expect now a price fall till the neckline, and if it breaks at least until the trendline and somewhere in between the blue circle.
I will enter the trade if the prices fall to 0.9864 a bit lower then it closed on Friday the 05.02.2016.
My target is around 0.94712. If it need to be adjusted in a few days I...
Look at the chart and it says everything.
1. There is a H & S pattern, neckline is broken.
2. ABCD pattern is on its way to finish.
Entry:
3. Go short on retest of the H & S neckline
4. Go long at the completion level of ABCD pattern
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Avto_T
Financial Analyst
www.rcpforex.com
Rounding top formation is developing for S&P 500.
Even if a bullish Bat is nearly complete, given the recent strong momentum to the downside I would rather prefer to wait for a retracement to a significat structure level and get involved short.
If price break below the rounding top neckline we may see the beginning of bear market.
As we see we have a very nice double top pattern. Price has tested the neckline and made little correction, what I am looking is the price to break this neckline which will be a nice opportunity for bears to go short. We may choose more conservative way to get involved in, when the price breaks the neckline wait for the retest and then sell. However there is a 3rd...
Good morning/evening traders!
As we hit our targets from yesterdays trade on FX:EURAUD , I see another good opportunity to go short again. This time we have a H&S setup, and price has broken the neckline, now I am waiting the retest of neckline to become a resistance for more confidence and the go short all the way down until the key support level @1.5674 and the...
basic textbook setup. price has retraced into a key resistance level which also has 2 fibs lined up with it aswell (38.2% and 61.8%). double top has now formed and price has bounce off the Resistance forming a pin bar/inverted hammer. Target at the neckline of double top.
AUDCAD just create a head and shoulder pattern in h4 chart.
Neckline point is 0.9781
After the break of neckline it will be safe entry.
Target price is 0.9530
Clear and well defined pivotal support/resistance around 89.80-90.00. Sell when NZDJPY rallies to re-test this price zone.
Short NZDJPY 89.80-90.00
SL 90.50
TP1 87.50
TP2 85.50
IDXX has just broken up out of a nine week pullback. Price struggled to break above the $150 half-figure zone during that time. Prior to this there was a very deep pullback (September/October 2014) which broke below the weekly 50ma for several weeks.
However, price is currently in an uptrend, despite the recent pullback - which, in fact, formed an inverted head...
After breaking down from neckline price has climbed giving us the possibility to short even more lots or get in the trade if we missed it. This type of Low Risk Entries dont happen often.
there is a channel and 8045 has been tested twice. this shows that 8045 is the R that I want to watch on n price should not day close above in order to spoil this hns pattern for a new downtrend.
I see a channel with macd divergence but the channel itself is awkward as the channel break does not present the best RRR. Hence i will need to modify my entry and look...
From larger timeframe I can take a strong bearish week below 3 months low.
I am now looking at a neckline retest and there is a channel of sorts with macd divergence from the recent peaks.
Price remains below the f6 from the downflow that I have identified.
My bias is wrong if it should day CLOSE strongly below the green lines.
Spikes are not considered SL for...
Looking to short SPX after this double top.
Once the neckline breaks you have several opportunities to place short trades ...
Target is the longterm channel bottom at around 1737.
Taking first profits at 1845.
As stated in a previous idea () this pair has already been rejected on major daily structure. Now is setting up a possible head and shoulder pattern on lower timeframe (4h).
Many pin bars formed on Friday showing price rejection below left shoulder level of the formation.
Action:
On Monday look for price to not gap nor open above pin bar's tails and sell at...
an inverted heand and shoulders has been completed and I am now monitoring for a neckline retest to go long.
The neckline support will be based on d1 line chart and I will be monitoring the neckline f6 area for a good test.
