Gold is still very bullish. With a broken pennant formation in the upside direction, I expect the pair to reach approximately 1253.98 from this point on. But I want to also state that gold might drop a little to retest the trendline before moving higer.
The break of bullish pennant brings gold on the higher price level and creates new potential strong resistance. The price will likely retrace on 1.618 of XA as it forms crab harmonic pattern. The target of harmonic pattern conjuncts with pennant target, and finally will complete rising wedge pattern. The current state is on excessive phase, the price was going up...
On FX:EURUSD , the market not trending on hourly chart. The price formed triangle (it can be pennant in the 4H bars), it means not bears nor bulls are in control the price. It is consolidated and we have to wait the perfect moment to see who gets the control and trade on their side. In this point, wait for the breakout confirmation and then...
Penant has formed in Gold. Breakout above 1230 should be followed by a swift move to $1336 COMEX:GC1!
We need to see the break to confirm this pattern.
A clear pennant formation is formed on the 1hr chart of gold. We can expect the pair to go lower to around 1190.00 before making its next if it goes down as expected. Keep an eye out for this and trade carefully.
as we could see the price is going in a direction of forming a pennant pattern we could go long when the price hit 1.39085 so we could make sure is not turning down
Market has just double bottomed, accompanied with bullish divergence on the RSI, all signs pointing that there might be a further leg to the upside. Targets go at previous highs, stops go below the X leg of the cypher, giving us a favourable RvR.
I sold GBPNZD at ~2.2458 in the supply level and my sell trade is still in running. The Price Action shows a Pennant Pattern. It is a Continuation Pattern for the bearish trend. I still keep my sell trade. But of course more time the price spends inside the price range, higher becomes the risk to see a reversal behavior. What do you expect for this...
I want to start things off by saying I don't expect to see much action at all in the markets today ahead of this afternoons FOMC statement. However, I did want to follow up on the USDCAD idea that I shared with you yesterday. After creating a NSL we are now retracing back into previous structure. I often explain to the traders I work with that I'm not a...
Usally not at all a pair im looking at but i just random clicked on it and we are currently approaching a good oppurtunity so whatever. this spike we saw last week was the biggest spike since 2012. those kind of spikes often happen in lowpriced lowtraded stocks. they spike up multiple 100% for 1 day or 2 and then fall down to where they came from. if you look at...
expect a momentum move to the upside soon if we can take out the highs of the last hour. conservative stops below the pennant, aggressiv stops below the lows we make from now on till the break of the highs.
Upside target 1.35450 I got a pretty good risk : reward here, with a hold of price by tht 50% Fib level. I'm going long again. Cheers.
In my last post on this pair (see Related Ideas: "FULL ANALYSIS: GBPUSD - Still Heading Lower In A Wave (iii)"), I was predicting that this pair would descend in a wavve (iii) continuation. I must admit to being WRONG! Wrong in that I thought it would get rejected by a MAJOR SR Structure and would descend. That didn't happen. In fact, I even issued a SELL trade on...
SIGNAL SELL BASED ON PATTERN DOUBLE TOP AND PENNANT . MORE DETAILS TO CHART . GOOD LUCK
The price drew lots of lower lows, but it is still challenging to pin point which the direction will be. I tend to believe in a down move. A break and close, 60 minute time frame, below 134.50 would be a good signal for a bearish move. A false break below this local support and a rally above the upper line of the Pennant would be a strong bullish signal.