Sp500 dropped significantly last in the last 4 weeks losing almost 10% from the historical high.
It is pretty interesting to see what is gonna happen in next few weeks. The index has taken out the master TL + we are 1000pips below 200 EMA + we have got possible HUGE monthly OB with beautiful bearish div that is HUGE signal for a possible bearish market to...
Upon false breakout (Hikkake) signal in 1h chart (not shown), I have loaded up my short position. Bullish momentum is still here, a bit risky. Outside Bar two candles ago (see red labeldown, ongoing upward trend and falling down out of the price channel make me confident that it will play out well.
Stop Loss and target gain are shown (Reward/Risk ratio =1.1).
EURUSD was rejected by a weekly resistance zone last week (structure, trend line, harmonic pattern)
The resistance zone and the triple top pattern sent EURUSD down - Forming Outside Bar pattern that will be in focus this week.
EURUSD will have to break the support zone to continue lower
BTCUSD update: Outside bar like candle forms within the 10988 to 8656 support zone, and more specifically bounces off the 9683 lower boundary of the reversal zone. Just like in the other markets, this is a place to be looking for longs for swing and position trades.
Funny how people criticize and ridicule TA, meanwhile levels that I have projected weeks ago are...
BTCUSD Update: Higher low established at the 6900 area followed by a new upswing that has just spiked to 7900 and formed an outside bar. This is the Wave 5 of 5 that I have been writing about that may have exhausted its potential going into the fork over the next 8 days. Once the incentive is over, the environment will be setup for the beginning of a much larger...
When looking at the XAU/USD (GOLD) daily chart we can see that, price stopped below February’s highs near 1263.50USD per ounce. The resistance zone is strengthen by the 61,8% Fibo retracement (November-December 2016 depreciation after the US presidential elections). Last time 1263.50 pushed the price more than 60USD lower. We should wait for Price Action signal...
FX:GBPCHF in bearish trend.
D1
-Correction to the round level(1.25000)
-Outside-Bar
-Rejection area around 50 and 61,8% Fibo
H4
-Breakout of the triangle pattern
FX:EURAUD in bearish trend
W1
Triangle pattern
D1
Correction to the round level(1.45000), which is matches to the 38.2% Fibo
Outside Bar
H4
PinBar
P.S. Sorry for my bad English :)
The pair is currently in a consolidation box just below pivot point and exactly at 50% of the box. We got strong longer term down trend, double high and nice outside bar.
I entered the short on outside bar low break and set initial SL just above outside bar high. If you've seen my older trades you will know, that my SLs are dynamic and I adjust them every day -...
Stochastic shows divegence and end of correction. Touch resistance level at 0.74987 and top level of chanel. Bearish Price Action model - Outside bar.
I will put 3 sell stop orders at 0.74150. S/L - 0.75200
T/P = 0.73100 (Only for 2 orders)
3rd order I`ll leave without T/P. I`ll put S/L few pips higher of big bearish candle.
Outside bar is a good opportunity to go LONG. We need to open an order from 50% because closest resistance zone at 1.10, and we can`t get good Risk/Rewards ratio, if to open an order by market. So we go LONG from 50% Fibo using Buy Limit order at 1.08988, SL - 1.08575, TP - 1.10
Pay attention to the daily Outside Bar that developed today on $GBPAUD.
Potential continuation to re-test top of trading channel (red dashed lines).
Stop loss should be below today's low.
Tomer, The MarketZone
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Corn has been diving over the last 3 years since it's peak in 2012.
Beside small correction move in 2014, it was pretty much a nose dive that cut corn value in more than half.
Since October 2014, Corn has been bouncing around the 22-23$ support zone, which is also the 127 extension for the first part of corn's decline (Aug 2012- Jan 2014).
The second time...
Price formed yesterday bearish engulfing indicating probable incoming reversal. I will enter on last daily candle low break(-5pips) and aim for the previous S/R area. Initial SL near last daily candle high. Weekly chart shows also a lot of bearish potential with better divergence and possible pin bar.
