Bearish Divergence formed at the outer Bollinger Band extreme. Divergence shown on RSI, Mac-d signal lines, and histogram. Today put in the first lower high on the histogram along with price creating a reversal candle on above average volume. Looking for a drop back to light support level.
The ABC correction from the 305 top has finished off exactly as predicted, see chart. After the bottom of C, the downtrend resumed and touched down on the (minor) 266 support. Of course a rebound was to be expected as prices don't move straight down or up. Now we are looking at a bearish wedge forming with a possible break down sometime tomorrow, or wednesday at...
Price is in an uptrend on the weekly TF, and is making HHs and HLs. We could possibly see a bounce off the bottom trend line which is confluent with the 61.8 fib retracement area and a continuation of the uptrend. This move is invalidated by a clean break of the bottom TL followed by a breach of previous HL. Long on a break of the retracement CTL.
It looks like the momentum from the bull run has died off. There is a lot of uncertainty in the air surrounding the Bitstamp episode as well. I believe once 289 is breached then it is a confirmation that we are heading back down, not necessarily to the recent low, but just above it. PS: First published chart. Welcome!
The retracement from the 255 low seems to be completing at the moment, an ABC correction should be expected at this point. After this, we will resume the decline towards sub 260 prices to retest the lower trendline of the big descending wedge. After the first corrective leg down (correctionA) there will be a correction to about 50% of the fall, this should put...
I find this pair being in the process of completing a strong correction, as it is probably about to reverse at the median line of the channel, which would coincide with Ret-23.6%. The aussie has been showing a lot of strength in recent hours and it's pretty overbought now. The swissy, just the opposite, has been weak and reached oversold levels. So a new downward...
After yesterday's scare, Gold has given us an outside return back into previous structure highs. On the way we've happened to form an advanced pattern as well. I typically prefer deeper completing Gartley patterns, but even though this one is shallow, it goes with the underlying trend. Pattern traders can look for a move back down to that magical 1200 level, why...
There is a marked long trend tendency with similar resistance and support lines. Inside that, we can see how the bullish price is strong and has had a retracement of 61.8%. Both fibonacci are exactly the same, and as we can see, the story seems to repeat. We can also see how both range have exactly the same % with very similar price unit ranges.
Just thought I would share this since the breakout is just starting to reach $380 resistance. Indicators are topping out and a 50% retrace seems to be in order. Market is still bullish, so trade carefully, but after this pullback would be a good time to get in if the price action still looks good. For all intents and purposes, the market is in breakout mode,...
A month ago I published an idea called Bitcoin Bubble Retracement: The Most Probable Scenario. Have a look at related ideas. Everything has already become true, but a bit sooner than I expected. Another two succesful ideas were called Update #1 on Bitcoin's Reversal: BITCOIN BULL FLAG and Bats + Bad News + RSI + Support => Reversal? What can I say about this one...
ON chart we can see forming littl SHS formation, alsow we can see at we are on resistance from chanel wich form from about three days ago. If price brekout and only if we get pullback and price hold that level we can click Buy button, if we get another scenery i will be out from this market. But if it work we can see Gbp/usd on + today
The AUD/JPY daily chart displays consecutive lower highs and lower lows with a potential short setup to continue the visible falling trend (supported also by downward trendline). The current corrective phase seems to be running out of steam in initiation of a potential impulsive phase, with the production of a bearish reversal price bar: - ricocheting off a...
Idea is based on a combination of Elliott wave theory and Fibonacci ratio's. The rationale behind this technical analysis is shown on the chart along with specific target and stop loss. Good luck
GBPCAD just broke out of a triangle pattern and made a rectracement. Price is back up at triangle structural resistance, lines up with .618 breakout retracement and 1.272 extension of original retracement impulse. Smaller triangle pattern forming in the retracement. Will go short if triangle breaks downwards.
DAX Resistance The DAX is currently in a very strong resistance zone. In fact many of the largest stock indices are also in the same position please also see my trade on the FTSE (Global Equities Turn-Around) It has touched this level 2 other times this year, we have seen several retracements on the dax this year and this seems to be where it stops the...
Price action is trending downwards establishing consecutive lower lows and lower highs. A bearish high test rejecting the 0.7490 level, the 50% retracement and closing under the 38.2% Fibonacci level symbolises a continuation setup short potentially into 0.7190. entry - below high test stop loss - above high test target - support area at ~0.7190
A low test close on CHF/JPY presents an opportunity for a long position. Today's low test price bar has tested the 114.70 level and is likely to close above it as well as above the 50% retracement and the 20 ema. There is, adding to this setup, supportive hidden bullish divergence (trend continuation divergence). The Stochastic indicator is in oversold territory...
The last time I looked at this stock I had a bullish Bat Pattern on my radar, which resulted in a move back up to previous structure before continuing short. That movement down ended up being the 3rd drive in a bullish 3 Drives pattern (in yellow) and what I would expect is a minimal move back up to previous structure (orange arrows). Typically when traders look...