ETHUSD Update: 241 Pivot resistance taken out in one day. This price action tells me that real buying has returned and that the possibility of trending back up into the 300s or higher has returned. The 241 Level is the .382 of the recent bear swing. Even though price has retraced off this resistance, the fact that it was still compromised signals that the...
confluence setup ---- Abcd pattern Bearish Engulfing 61.8 retracement Target projection 161.8 extension level www.goldsnipersacademy.com FX:EURUSD
Hi Traders, This trade set up is for GBP/USD based off of the 4H chart. Now we can see price action failed at the 61.8% Fib level on 3 occasions over 2 days. This failure supports the theory that price action is simply taking a break from moving up after a long period of gains. The market appears to be rejecting any further decline past the 61.8% fib level...
ABC Wave 38.2/50 Retrace expected Stops below 78.6 1.618 Extension Target Happy Trading Guys.
Potential downside set up with poor US news being the catalyst for a correction from wave A - B (50% fib 11912 area) for a resumption of the down trend towards wave C (monthly resistance at 11720).
HERE ME MIGHT SEE A POSSIBLE BULLISH CYPHER PATTERN SETUP. WE ARE ALSO AT A STRUCTURE LEVEL WHICH WILL ACT AS SUPPORT FOR OUR TRADE DESICION. D LEG NEEDS TO COMPLETE AT A 0.786% STOPS BELOW THE x LEG TGT1 0.382 TGT2 0.6185