Price has broken below a long term corrective structure, something which signals a potential selloff. We should now wait for a correction before watching for any sell setups. This correction may begin at the bullish bat pattern completion (I am not interested trading this pattern). Price may retrace to test the broken level and there would should watch for our sell setup.
A bearish shark pattern is working pretty good till now and after a sharp drop from it's D ponit a correction is expected. If price pulls back for that correction it will probably complete a head and shoulders wave pattern which will most likely push price to the down once more. So watch for a sell setup to form at the level of the left shoulder, with a second...
In my previous post on usoil, we had a bearish gartley pattern, which didn't work well (see link below). I was still waiting for oil to retrace, and we now have a much better setup to get involved with. Price broke below a rising wedge pattern after being rejected from a key zone formed at the upper bond of the pattern with MACD divergence showing that this...
In the daily AUDCAD chart we have a pending bullish bat pattern with waves XABC have already completed. Price is moving in a descending channel with MACD divergence already in presence. If price continues this up and down move we will soon have the bat pattern completion giving us a beautiful buy setup. When everything is in plave i will update this post.. Keep...
After a great sell setup offered by a deep crab harmonic pattern (see the link below), here in USDJPY we have another great opportunity to go short. Price clearly is in a correction, moving in a expanding triangle, preparing for another impulse to the down. We may enter the trade at 0.618 fib level, but a for a much safer setup we should wait for this correction...
After breaking a long term downtrend and having retraced to that broken level, price is about to break above a wedge pattern. When the breakout happens we should watch for a buy setup before going long with this pair. A MACD bullish divergence shows that this down move is about to end. Daily Downtrend: