Although there is naked structure of resistance and no confluence, I would like to see some bearish divergence on the RSI to confirm this pattern reversal. Nasdaq have been bullish quite sometime and it is indeed due for pullback to catch a breathe.. This pattern could very well confirm that. Looking to take a target no more than previous resistance now turn...
Euro making a comeback on the rally. Price action put in a .786 retracement on the B leg of the X to A measurement which validates a potential Butterfly pattern. If price rejects $1.371 at the 1.27 ext.. We may see a reversal. ****************************************************************************** For inquires of education, live trading room, or prop...
There's no previous structure anywhere to be found in price.. Divergence would better confirmation for this reversal. ****************************************************************************** For inquires of education, live trading room, or prop trader funding email epicdaytrading@gmail.com Skype: epicdaytrading PH: +1...
US indexes were up in early trading after New Home Sales data came out much better than expected. Consumer Confidence Index beats expectations as well. But later markets reversed, engulfed those gains and closed near lows. Lets see clues and points of adjustments (15 min timeframe analysis). After price reached resistance zone $195.50-.60 reversal candle appeared...
A Gartley and a Cypher pattern is pointing to the same exact destination for a sell reversal. We have previous structure at $31.31 & $29.38 coupled with confluence with two 1.27 extension ratios. $29.95. and $28.96 at the .786 retracment will be our kill zone. ****************************************************************************** For inquires of...
Two trades could play out here. The shark pattern (blue) being the most probable because of the strong previous structure of support now turned resistance between price $1.0178 at 1.13 fib extension and $1.1854 at .886 retracement. The kill zone would be between those two price levels. Price also recently formed a bat pattern (purple). We might see a pull back...
A bearish crab (blue) has formed.. A double top at the 1.618 ext may confirm this trade. If not.. there's another bearish harmonic pattern on the daily chart. The bat pattern (yellow). Let's see if the crab pattern will override the Bat and take price down ****************************************************************************** For inquires of education,...
Powershares is showing signs of potential bearish crab pattern. The PRZ is measured from A to X leg at the 1.618 extension level at price $96.23. Even though there is naked structure around $96.28 kill zone, There is confluence at $96.28 at the 3.618 & 1.618 extension level. This should act as resistance. If this plays out, we should see a good rejection which...
After getting crushed down to below IPO levels, FEYE seems to have found momentum and is coming close to reaching resistance levels of $40-42. I expect FEYE to reach $50 in the near future
With today's announcement of DigitalBTC's listing on Australia Stock Exchange, the price is heading north once again. We've finally broken through the falling wedge since 12th June. (RSI, VI, MCAD, Elliot Wave 4, indicators are seemly positive and oversold) www.coindesk.com For short term, we should see price heading closer towards $600 once again. One thing for...
Bullish Bat pattern (orange) has formed and i'm looking for a bounce at the .886 retracement from X to A leg. Price is currently at good structure and historical support as well there is a confluence between the .886 retracement and 2.24 extension which gives highly confirmation of this pattern playing out. This is only a countertrend trade. EURAUD have been...
There's a potential gartley showing up. If C leg can make it up to $92.68-$92.74 we may see reversal in price upon the completion for an intra-day trade. For longer term, price action may trade down to 91.08 to complete a Bat pattern. There's strong structure around $91.42-$91.13. The Bat pattern would make for a perfect retracement back to the trend line, if you...
Measuring the A to B leg with fibonacci , C slams right into the .382 fibonacci retracement. If the .382 can hold it's resistance and throne, we may see possibility of a bullish butterfly completing at price $12.65, 1.27 extension level. Although A to B extension 1.27 and C to B extension 1.628 does shows confluence, price may reject these levels as support and...
I see nice Head&Shoulders pattern in USD/CAD with neckline at 1.09030. Moving averages curling down means that sellers keep preassure and control on price. Break below neckline which is our support could lead to further follow through. My intermidiate target is 1.08600 close to support zone. Stop could be placed above 50 MA which follows price nicely.
For the past month price action has been drawing a Head and Shoulders Bottom pattern, with a bull Double Bottom right shoulder confirming strong support around $430. Far from losing steam, this bullish indicators have lead to a price breaking without flinching the December long term downtrend and flirting for a week now with the H&S neckline and Fib .5...
Friday brought a huge bounce on very high volume at a great support level for CBS. There is also very strong bullish momentum divergence seen on the mac-d histogram and the stochastic oscillator makes it seem price is making plans to pop off hard. I would play a limit order for the closing price at 56.74 with my stop loss 5 cents below the low of Friday. Sticking...
All roads seem to be pointing to buy limit orders @ 1.4990 - 1.960. Price will likely head towards 1.5300 and turn back for the trend line and consolidate there for a bit and continue its long term rally. 1.4990 region is also a past lvl of support + 50% retracement + trendline, can anybody say confluence? There is also an intraday short setup here as well. Price...
The EURUSD seems to be forming a strong bearish divergence with both the MACD and the RSI. I believe this divergence will reverse after it reaches the 1.3965 - 1.4000 price range. Technicals are signaling further continuation to the upside after the bounce off the 38% retracement as well as a bounce off a new support lvl (1.3820 - 1.3780) which was previously was...