It's over 300pips run in our direction since my last publication on this pair (see link below for reference purposes) and it appears another trading opportunity is unfolding as we await the completion of a reversal setup after multiple rejections of the Supply zone @ $1.42250 area in the last 25 days. The Pound edged lower during the Friday trading session but...
We are yet to find an avenue for Bearish confirmation since my last publication on this pair as the price continues to find a higher high (see link below for reference purposes). Continuous rejection of the $1.22500 level since mid-May 2021 is a clue pointing at the possibility of a bearish momentum building up at this juncture in the market. The prospect of...
Tesla's shares are currently consolidating above the 38.2 per cent Fibonacci retracement level at 581.75. Given the expectations of the Elliott Wave Theory, the price action could establish another upswing towards the descending trend line (in red). This would represent the second retracement leg (3-4) of the broader pattern. A potential reversal from the...
An update on my previous post .. I Realised afterwards that the STB and spring kind of merged on the 30min chart .. Therefore STB became STB+Spring and what i thought was gonna be Spring became TEST so i lost on that trade. But i saw an opportunity for a long position as SOS was forming at the top after i got stopped out. Therefore All i had to do is wait for...
HELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE IN THE MARKET THIS WEEK, HERE'S A LOOK AT THE US 500 INDEX FROM A 4H PERSPECTIVE. Will be looking for reversal patterns for this trading plan to be effective a break above of the resistance level changes the plan. * follow your entry rules on entries * significant moves with the bears change the...
HELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE IN THE MARKET THIS WEEK, HERE'S A LOOK AT THE DOW JONES INDEX . LOOKING for signs of a shift in momentum a possibly reversal pttns for this trade setup to be executed. * follow your entry rules on entries * significant moves with the bears change the plan. lets see how it goes. many stars must align...
HELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE IN THE MARKET THIS WEEK, HERE'S A LOOK AT THE S & P 500 INDEX. That has been trading in a rising wedge looking for a shift in momentum of the index should we push down with the bears to see a break below of structure looking for sells on the index a break above of the support level signals continuation...
It's approximately 700pips move in our direction since my last publication on this pair ( see link below for reference purposes) and the price has continued to reject the NZ$1.98000 zone. This is a sign that Buyers are yet to garner the momentum to push the price above this level in the last 9 months (since September 2020) hereby giving an advantage to Sellers...
Level A: 0.71087 - 0.71499 Level B: 0.72118 These were determined by 4 or more "touch and retrace" points on the 4 hour chart. Three Major reactions were observed with price action around these areas, and are labelled on the chart. Scenario 1: When a trend drives the price toward Level A the trend weakens, and we see more signs of uncertainty as to where the...
We have finally break above the descending triangle with BTC. Descending triangles can act as a continuation patterns or as a reversal patterns. In this case it is starting to look as a reversal one. It is the first solid sign that we may still set new ATH which should be slightly above the one set in April. I am expecting 70-85k at max for this cycle. We however...
Gold ready to start to correction to gain power at 1870-75 level with a H&S reversal pattern. I am still bullish in the long term but observe and update my strategy daily. I shorted Gold at 1904 and my target is between 1870-75.
The share price appears unable to break out above the historic resistance level at 170.00, which represents a very strong bearish signal. Moreover, the price action has recently established a broad 1-5 impulse wave pattern, as postulated by the Elliott Wave Theory, as well as having developed an Ascending Wedge. Both of these developments confirm the bearish...
Following the successful breakdown below the Ascending Wedge's lower boundary (as we projected in our last analysis of the pair, see below), the EURUSD looks poised to resume falling shortly. The highly anticipated payrolls data in the U.S., which is scheduled for publication on Friday, would likely strengthen the greenback. This time, the correction would...
Toughbuilt re-tested the all time lows and seems poised to run higher now. Falling wedge : We see that TBLT broke out of the falling wedge and has been flatlining or consolidating in the $0.70s area. This is a bullish pattern. Kilroy Bottom / Inverse Head & Shoulders: Coincidentally or on purpose, the consolidation in this range is also forming a Kilroy was...
The volatility of Bitcoin during the course of the weekend continued with a sudden drop to $33,500 which was immediately followed by a sharp recovery by a couple of thousand dollars. In the last 3 days; Swings at decisively overcoming the $40,000 (Neckline and Key level) barrier proved abortive as every attempt was met with a vigorous rejection dipping further...