Gold since November 2016 , may be in the process of forming a symmetrical triangle.
With this potential scenario, the current C leg of the correction, is likely to have a weekly close around 1300, before price moves back down to 1150 with the D leg.
Now it's time to operate in the market. I set 38.2 as target because it will give a big profit. As u can see the stoch show a divergence and we are in oversold too
It is hard for me to predict where BTC could go in next weeks or months. I tried to apply known to me technicals but recent movements don’t fit to any of them. I found just one which could be used for “predictions” and it is called V-Pattern. I placed it on the chart(two rays deviated 60 degrees) . This pattern gives us place where we could see some interesting...
I don’t think that harmonic pattern should be applied for this relative very young market. This kind of markets are often driven by strong emotions, where low volume lets create rapid movements up which are then erased by market in very short time. It looks like micro version of sub-prime crisis.
I wouldn't trade bat pattern on its own but company of solid GAP...
123 BREAKOUT PRINTED
HEAD AND SHOULDERS PATTERN PRINTED
FUNDAMENTALLY BEARISH BIAS FOR THIS PAIR THIS WEEK
IVE BEEN IN THIS TRADE SINCE 1.44XXX BUT THIS IS NOT A BAD SETUP FOR AN ADDITION SCALPING POSITION
With this week's anticipated and unanticipated news, my previous idea of going long got stoped. But now the pattern has become cleaner and clearer, so I am long again!
AUDUSD is forming a bullish gartley pattern, here on the 1h chart.
First target will be at the 382 retracement of A-D.
Second target will be at 618 retracement of A-D.
Trade with care.
