Divergence is indicating a move down which may mean that price is going to break out of the triangle formation to the downside. If it looks like price is going to reverse then there is also a nice little trade to take so you can profit off of this triangle either way it goes.
If you followed the trade idea I posted on my TradingView on 11-20-18 (), we see how we have progressed. As charted, we hit TP. Hopefully you took your profits as noted on December 4, 2018. The reversal did occur as expected and we saw a series of impulsive moves and corrections...
Price is forming a descending wedge. Anticipate pull back to the 61.8% fib level, after which bullish price reversal. This trade is for educational and demonstration purposes only. Trade at your own risk.
The drawn out correction of the past three years is coming to an end, thus resuming the multi-year uptrend (since 2005). Prepare for significantly higher levels once the trigger at 13.85 is taken out convincingly. We expect a move towards minimally 14.52 and probably 16.77 on a 9-12 month horizon.
Near term trend: neutral
Long term trend: positive
got a Cypher formation here. On the daily chart there is a consolidation channel with the bottom above and near the SL zone. I got no TA for how the market will behave after this potential bullish move but for now this is what I got. Lets see what happens.
Got a cypher here. It might be too late to enter but its still ripe. The daily shows a consolidation channel so there in not much indication as to which direction the market will take after this possible spike. Lets see what happens.
Could be a nice cypher pattern forming on CHFZAR this week.
Looking for the drop down into the target zone then the bounce back up.
I think I've got the Fib numbers right this time, but as always looking forward to any feedback more pro traders observe.
happy hunting this week.
It has already broke-down (through all the supports)... Same thing happened as in EURZAR, USDZAR, & very soon (the same thing is expected to happen) to the JPYZAR as well...
I'm also taking a close look at commodity prices in general, & they all seems to be on a strong rally-upwards at the moment...: I guess that would be greatly strengthening the...