May be forming a large W with the inner M formation acting as the 'lips' for the W structure.
If this scenario plays out, congratulations to all the holders.
Your patience through a very volatile coin has paid off.
At first glance you probably think "what is this sorcery?" But take a closer look, symmetry helps with these formations.
After a large dump, silver fails to break through the new highs.
As I said last week (you can see in my ideas) we have seen a head and shoulders. And now?
Is a W formation possible?
We'll see ...
Stay tuned more for updates my friend ;)
Alibaba making an interesting W-formation.
Waiting for a break above the double top, or a retracement to the 20sma to go long.
OBV and RSI are supportive of the movement, with OBV trending higher than previous peaks, and RSI above 67.
Keeping on a watchlist.
Good Day Everyone
A look at the DOLLAR INDEX from a monthly perspective we are still net short on the index seeing a rally of some three ( LL) candle on the chart on a bearish rally.
from the weekly perspective the sentiment is still the same 4th month closing an a ( LL ) rally looking for continuation of this momentum to the downside before seeing some...
Hello traders and analysts
just a quick idea here - price is showing a nice hourly pattern for an inverted head and shoulders or a W formation.
Be aware price can fall down to todays lows of 1.79340 but ofcourse confirmation is key to success as price is reactive.
Trade your plan.
Note: Trading is about timing. so even if our stop loss gets hit on the chart....
Good Day Everyone
Here's a look at the USDJPY pair and some idea's within structure for the more aggressive traders on lower time-frames the pair is currently trading in a descending triangle which could be signaling a reversal on the pair the pair has been hitting LL within structure so looking for a break above of structure, looking for a completion of the W...
Here in EURUSD we have a couple of points that have become known!
First of all, slightly messy but we have a "W" formation showing and ending on the resistance shown at 1.099
What does this mean??
We'll likely see a downward spike, possibly even touchdown on resistance before it starts making another upward push because once it comes down, it's...
Felt like buyers wanna take some advantage sentiment wise and seem like they wanna push the price upward which might work for intraday prolly. I caught W formation ( double bottom: reversal pattern ) and on Higher Timeframe doesn't seems much bearish domination so there could be chance for bulls to weigh over market in lower time frame indeed. Bear in mind...
LONG GBP/AUD, ***IF there is a clear rejection at the 61,80% level of the fibonacci (Daily fib), it is also the 38,20% level of a Weekly fib wich is also on a key level. The market created a W and is now retesting its neckline that should now act as resistance. IMPORTANT : I am only showing an analysis on one of the many timeframes that I use.
We don´t want to predict our idea, we want to
react, so when the longtrade hit our TP, then we´re looking
for some riversalpattern in the 1h timeframe , maybe something
like a M- Formation.
With all those confluences i would say that the price is going to continue reversing to the purple area, witch seems to have accumulated orders if we look left been experimenting with wicks regions and seems to have worked out great.
So as you can see we expect NZDUSD to go long. We think it will go long because the markt is now in a strong weekly buy order zone. If you zoom in on the daily chart you can see we are now also in a strong buy order zone that is been filled right now.
It will be much clear on the 4h chart, you can see the 4h trendline is been broken en created a...