Fib extension confluence along with structural resistance
Fibonacci 61.8 retracement as well as multiple structure resistance levels
50% Fib level at 600 fills the gap and appears to be a potential short term bottom.
BMW has formed a double bottom as shown on the weekly chart along with a decreasing volume which suggests a lack of selling pressure. We are now waiting for a confirmation signal from the RSI to break through its trendline before opening a position on this stock. We expect price to test the upper trendline of the triangle before breaking through should the UK...
Signs of bearish movement as we have an engraved candlestick at thw end of correction wave 1-2. Now we anticipate the short of impulse leg 3
Overall view on USDCAD. However still be careful with the high impact news.
VSAR beginning reversal of trend, looking for confirmed channel breakout on hourly time frame, then long entry after a retest of trendline. solid fundamentals with good previous qtr earnings.
I THINK WE CAN GO LONG AFTER CLOSING ABOVE (B) AND WAITE FOR PRICE ACTION ON (D) TO GO SHORT.
A few months ago, I've posted an analysis for $BTCUSD (see related ideas) with potential bullish harmonics that turned out to be successful by pushing Bitcoin higher from the PRZ. The important thing that happened since than, is that the Bitcoin broke out of its daily downtrend line (weekly!) With $BTCUSD now pulling back down, it is maybe a good time to look on...
ANOTHER CONFIRMATION TO MY PREVIOUS BIAS GOLD LAST WEEK DOUBLE TOP REJECTION FROM THE 38.2 FIB LEVEL INDICATES WEAKNESS WE HAD A TREND LINE BREAK LAST WEEK AND NOW SEEMS IT WILL MAKE FURTHER DOWNSIDE MOVES OFF THE PIVOT POINT FROM LAST WEEK TARGET 1220 AND BELOW
Here on the monthly chart for Crude oil we have a clean retest of the long term broken counter-trendline after a break and pierce through the 30.00 level. There is also a daily 61.8% (golden ratio) retracement which adds to my short bias.
A combination of lukewarm earnings for Q1 and talks of an impending Federal Reserve interest rate hike seem to be slowing down the bullish recovery we've seen in the S&P the past several weeks. On the technical side, notice the failure to attain a new high. In fact SPY has consistently been unable to break new highs going back to May 2015, when the bear market...
A sloppy one but it is a valid bullish cypher pattern. Good Luck!
Potential bull cypher formation. It was bull Gartley from my previous idea but the C leg shot up to form the C leg of the cypher pattern.
Potential bullish Gartley formation after yesterday's profitable bear bat. Good luck!
Bear bat and bull gartley formations setting up. Good Luck