chf/jpy bias is bearish and it has been for a very long time. Price has come up to resistance zone which has been respected three times in the past causing some nice moves to the downside.
Price is followed by xabcd pattern, rising wedge and broken ascending trendline.
cad/aud have been holding support for some time now and ascending trendline + xabcd pattern has confirmed that trend as well. This is a long term goal to reach roughly 400 pips but smaller take profits are listed on this as well.
On the gold/silver chart, I see price follow a consolidation period. Price seems to have reached resistance zone while creating a xabcd pattern followed by a rising wedge/pennant depending on how you see it.
waiting for price to break out of that pattern so I can enter. Looking for entries on the 4hr/1hr timeframe.
below I will post the link to XABCD made by GOLD but upside down. US dollar, JPY and Gold have strong correlations. These correlations makes GOLD move one way and USD/JPY the opposite.
Thank you for your support and for sharing your ideas.
Please note that I am not a professional trader and these are my personal ideas only. The...
Swire Pacific is the holding company for a HK property developer, Cathay Pacific the airline and Swire Offshore amongst other things. Since its last results announcement, HK property prices, the Chinese economy and oil prices have all cratered. Not exactly a rosy picture for the grand old Hong. Price action is potentially completing a Gartley pattern into a...
Potential xABCD formation at c.$154 which also happens to be the 78.6% retracement level of the XA leg. If we extrapolate an ABCD down, the downside projection would be c.$106 which coincides with the 2012 uptrend line. If you like MA crosses, CRM is in the throes of a death cross.