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Since 2014, my markets approach is to spot
trading opportunities based solely on the
development of
CLASSICAL CHART PATTERNS
🤝Let’s learn and grow together 🤝
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Hello Traders ✌
After a careful consideration I came to the conclusion that:
- it is crucial to be quick in alerting you with all the...
The algorithm shows an opportunity to buy credit agricole if the double bottom pattern breaks.
The double bottom pattern is a bullish reversal pattern that appears on a chart as two distinct bottoms at roughly the same price level, separated by a peak in between. The pattern is formed when the price of an asset falls to a support level, bounces back up, falls...
Technical Analysis (TA)
Weekly bottomed out with crossover on RSI and William %R)
Daily breakout has signaled a shift in momentum. However, there has been previous resistance at the 100EMA level so I expect this to come back down to EUR 9.2 for a higher low before a push upwards to $11 +
Price Target
Entry: 9.10-9.30
Target 1: 9.76
Target 2:...
Credit Agricole SA (ACA- france) is in ABC zigzag down move in daily time frame, which is in C wave after B wave over as double zigzag move. In 1 hr time frame, It is in 2nd wave abc correction, where c wave is under progress. Wait for one more swing high in 10 min time frame to complete the c wave up of 2nd wave. The invalidation level 9.53 must hold to confirm...
Credit Agricole (CAGR - Paris) is moving down in ABC zigzag wave. B was complex flat wave, which was over and its high should be the ideal stops for sell trade for wave C down. but wait for pull back to get in the trade.
Looks like MA (50) and MA(200) are not in correct buy position. The dorection is perfect for buy. MACD and RSI are on downward trend., but what do you guys think?
Related to the reflation theme described in my view "Crude Oil: The Most Important Chart in the World".
European banks trade at a 60% discount to the market (only seen during crises of 2008 and 2012) and represent a 'value' play amidst the prospect of higher rates resulting from the reflation theme.
European stocks also trade at 'crisis lows' versus...
