I am always on the lookout for ranging markets.
If we have triple bottoms formation then thats
a good way to go long.
The risk on buying that support is next to nothing.
If that never happens then you could buy on the breakout of resistance straight away
and set your target on the next resistance.
Trade safe, trade well
Another simple setup but superb one. We have triple retests around 1330's in XAUUSD, I have initiated long positions based on 3 reasons,
1) Three time price retested this zone 1330 in XAUUSD
2) Hammer with Bullish confirmation close
3) Risk-Reward is good
For this particular trade setup,pls check ur trade plan and check whether it suits you before entering...
ONTX Triple Bottom with increasing volume. I'm looking to be moderately conservative on this buy; the 38.2% Fibonacci level will act as a nice price target for this bullish play.
Viewing this chart, one can see that ONTX has been unable to sustain its gains above the 50% fibline, so you may be able to sell at that point,...
Here we are looking into a potenital triple bottom on USOIL with RSI indicating an oversold market strong supportive level being met at around the $46 mark, i would like to see this level hold and a reversal up over the trend line drawn with the first target at $49.6 and second target around the $51 resistance level
Here on the AUDCAD we´ve been on a downtrend for a while, we´ve come to a structure support area were we have made a double top so far that have hold up the price. Right now we have formed a Bat formation at structure looking to make a potential triple top then push price up to our target, before price will eventually continue the trend. our PRZ levet are...
USDJPY has formed a triple bottom, hugely respecting the 111 level. We also have a fibonacci 61.8% on 110.4, so the zone 110.4-111 works as a really strong support. The price is also respecting the TL from 2013, making the current zone really strong and the pair would need a huge momentum to push the price below these levels.
The TPs are based upon fibonacci and...
Looking at the 2 week chart we can see a clear formation of a triple bottom. Such a pattern is used to predict the reversal of a prolonged downtrend.
This whole month has been full of volatility so we may see more movement soon. I am remaining positive that we may see upward movement soon.
Read more: themerkle.com
Corn has been diving over the last 3 years since it's peak in 2012.
Beside small correction move in 2014, it was pretty much a nose dive that cut corn value in more than half.
Since October 2014, Corn has been bouncing around the 22-23$ support zone, which is also the 127 extension for the first part of corn's decline (Aug 2012- Jan 2014).
The second time...
GBP/USD has broken out of a 6 month descending channel on the weekly chart to the upside. The initial bullish surge occurred at the key psychological level of 1.5 forming a triple bottom formation.
This suggests that the bearish pressure is diminishing and that we may see an established bullish reversal. A retest of the backside of the channel...
Hi all Risk Takers,
Here's an idea written for short term traders, tech stock investors and all Apple fans.
(1) On the 1 Hourly Chart, we observed clearly that price is trading in a general uptrend line, since May 2014.
Evidence of Support are found during May 2014 and Oct 2014 (Up arrows).
There are also signs of potential support around Jan 2015 period but...
In the Weekly Markets Analysis, I mentioned that 1180 will be a good entry level if the Gold will reach it. As the gold opened the week lower, I sent to the members an email that I'm buying gold at 1190. Since than, the gold rallied back above 1200 and now it is trying to break minor resistance near 1220.
We are back inside the weekly bullish harmonic PRZ. In...
What will happen next? Will EUR stabilise and rise up from the Triple Bottom,
or will the Big Level of 1.4000 get broken?
And if it breaks below 1.4000... will it be a quick, nasty sell-off - just to reverse within next 24 hours?
(Im not going to trade this with real money or just with a very small lot size)
Coming off from a bearish AB=CD pattern, Crude Oil is probably now zigzagging along a Wedge pattern. With price just bounced off the 78.6% fib and RSI above 30, I am looking for a long position with target price just below the channel's ceiling if it breaks the ceiling I will hold long playing the triple bottom pattern with target just below the previous high.