Alphabet, as expected, bounced off the 20 week MA (in red), and we closed longs at Gann level 2651. But the count hints at more downside in the mid-term. Since the ATH, price declined in ABC patterns, so that we can assume a WXY or a complex ABC is unfolding. If correct, sellers may step in at the 20D MA again. A possible area is the blue box (.618 to .786...
Chart shows the possibility of the Cup And Handle Chart Pattern and it's target.
Chart shows the possibility of Right Angled Ascending Broadening Wedge Chart Pattern and it's target. A right-angled ascending broadening wedge is a downward reversal pattern. The pattern is formed by two diverging lines, the support is a horizontal line and the resistance is an oblique bullish one, so it is an inverted descending triangle. ... Each line must be...
GBPUSD: The PP0, EMA 89, Fibos and previous tops, mark an intraday support for the pound. The next important resistance area stands at 1.3600-10. We will try long positions the 1.3620-40 area, setting the stops below 1.3570,targeting 1.3590-00.
Chart shows the possibility of the Wyckoff Method Chart Pattern and it's target.
Chart shows the possibility of the ABCD chart pattern and it's target.
Chart shows the possibility of the Elliot 5 Wave Chart Pattern and it's target.
EURUSD is testing the channel as seen in the chart and the important Sept-Nov lows of 2020. The move is likely to continue even lower as the momentum is strong enough. RSI is at extreme oversold levels making a new low as the most probable scenario. We think that the 1.1600-10 area will hold the move for today. Although it is a risky trade we will at buy the...
Chart shows the possibility of the Cup And Handle Chart Pattern and it's target.
Chart shows the possibility of the Cup And Handle Chart Pattern and it's target.
Chart shows the possibility of the Bearish Cypher Pattern and it's target.
Chart show the possibility of the Right Angled Descending Broadening Wedge Pattern and it's target.
GBPUSD: The pound doesn't seem to go anywhere and it may continue its short term sideways movement. We are buyers at the 1.3655-65 area for a short term bounce at 1.3700-05. We will set tight stops below 1.3645.
EURUSD: Buying the reversal candle in the hourly chart. Stop 5 pips below the low of the candle. Target 1.1710
AUDUSD: The area of 0.7315-20 is the first important resistance for today as it contains the previous highs and the PP R2. We will try short positions at 0.7315. We will set our stops above 0.7336 targeting 0.7290.
EURUSD. The bullish daily candle after the FOMC and the inverted H&S pattern that is forming in the 1H chart, are keeping the bullish scenario for EURUSD intact. We are holding our long positions open and expecting for an initial break of the 1.1730-35 resistance in order for our scenario to be validated (the upper trendline of the downward channel) . The break of...
Chart shows the possibility of the Right Angled Descending Broadening Wedge Chart Pattern and it's target.
GBPUSD. Although the pound didn't rise from our initial support area at 1.3690-00 and pulled back lower, we still hold our bullish view, as price remained above 0.618 retracement levels. For today, the initial test is the 1.3680-85 area. We will BUY at current levels adding more at a strong bullish candle with close above 1.3685. We will set our stops below 1.3645...