I had some time on my hands so I decided to take a look at the EURUSD daily chart and an opportunity for the longer term. We have a possible AB=CD pattern (with 0.318 retracement) setting up terminating on structure level around 1.26300. Drawing Fib extensions we also have a 1.618 and 2.618 confluence at the same level. If this level holds, I'll be looking for a...
Silver with a huge drop came out of a 30-40 day equilibrium ratio level. Could be continuing because ratio spreads are not stationary but I'd rather speculate against that. LONG XAGUSD, SHORT XAUUSD to make the spread. Ignore the stoploss they were default.
I'm a brand new trader learning technical analysis and I would love to get some feedback from more experienced traders. In this chart I saw the head&shoulders pattern. After this completed, we reached a 0.382 retracement back up and now the market is (in my humble opinion) going down to a minor structure level at the 1.272 and 1.618 extension confluence around...
Having another bearish week in the Pound, we have Non-Farm on Friday. SL is the next Fibonacci ratio, TP is just above most recent lower high on the Daily.
Daily - Market was in downtrend from March to July, before rallying back up and stalled at 50% retracement of the downtrend. That is also a resistance zone if we look left. H4 - We can see a double top formation with price broken below the neckline around 1.09 and is now potentially retracing upward towards 61.8% fib retracement for a 2618 trade. Will be looking...
This pair looks like a rally to me at the moment. Its been diverging since the end of May and has broken that bearish channel. For targets If I copy the previous leg then it comes along with the 1.272 and 161.8 ratio confluence AND previous structure on the left. If you dont want to be that agressive then you can set your target at 1.4766 along with the 1.272...
I'm looking at two things here on the EURAUD. Bigger picture is a potential bearish trend continuation trade as price action looks to make a retracement into a previous shelf of structure. Around that same level lays a potential bearish butterfly pattern completing at 1.618 & 1.272 Fibonacci confluence. Adding to that we have more ratio confluence in the form of...
It hasn't been the best of weeks for me and I'm certainly fighting through a drawdown, but that's trading for you. The way I see it is you can either continue to follow your plan and fight through it, or given in and miss the opportunities that can potentially dig you out. This isn't the best opportunity at the moment, but it could be depending on how price...
Time to short Golden Ratio & Price Action
As you can see this pair has tested previous major support level at 1.06283 and rallied right after that. At the momet it is consolidateing but there is really nice fib ratio confluence AND previous structure support whitch should become resistance and reversal zone. Im long here at the moment but if this pair reaches reversla zone im gonna short.
Price is testing the support level forth time. A good place to buy.
Possible Bearish Gartley Pattern Looking to complete at 0.94904 (AD1270)