Two possible trades:
- A Shark pattern
- A confluence between 78.6 fib retracement level and mayor structure level that could become support.
I'm currently waiting for RSI confirmation when price reaches these levels.
Despite of Silver failing to create a new high but turning down @19.74 this might be a setup for upside move. 4 possible patterns (cypher, shark, crab, and inverted H/S) showing a very likely bullish move
Bullish Bat Pattern on TJX if price reaches 56.63. We saw increased volume on the advance of the 'XA' leg and lower volume behind the decline to pattern maturity. There also is bullish momentum divergence from the last swing point within the 'D' leg of the pattern to where price is currently.
There also seems to be a rough bat pattern behind this pattern that...
NU breached the 127.2 ext. of previous high fighting strong res. at structure. Is NU going for the 87 even handle (78.6 ret.) or maybe for a new high above 87.5?
After climbing to 24 AFOP lost over 50% ending at 12 in Feb this year. Since than, rising cont. Now @ 20. This could be a nice price if stops here, otherwise a rise to 22.5 might be a sign for a short.
Because of the strong support level found at the PRZ, we can expect price to bounce from this level and at least touch the .5 retracement level from leg C to D, wich would give us the 5-0 pattern to go short. So we have a very good opportunity IF the pattern completes.
Stops at 10 pips below the entry level and targets at 0.5 retracement level from C to D
Coming off 52 week highs for the identified 'XA' leg. 37.50 is clean support on both daily and weekly charts.
There is also very nice bullish momentum divergence seen on the Mac-d histogram.
Enter Long just in front of the 'D' point at 37.55
Stop Loss below 'X' point around 36.60
My initial Profit Target will be 38.75 which should see resistance with second...
Who missed the perfect entry on this bearish shark, might have a 2nd chance to enter short on H/S. However, be aware that the PA reached already T1 on the shark. Possible T2 at 170.72
The CD leg of the shark pattern has reached the 1.61 retracement of the BC leg. I'm waiting for confirmation of reversal before entering short somewhere between here (~1.389) and 1.40.
If the reversal happens sooner rather than later, there is also the possibility of a Gartley pattern presenting an opportunity for a long position somewhere around the 1.3527 support level.
