Pinbars are a good sign of a pair rejecting higher prices. This in combination with other coincidences in the same area shape our bias and help to create our trading decisions.
This time we have:
+ Continuation of the bearish trend.
+ Rejection of the 50% Fibonacci retracement level.
+ Rejection of the ...
Last time we hit 0.960 was in March of 2014. The downside move had massive follow-through. However this time around we hit 0.960 and had little follow-through respecting the ascending trendline as support once again and price looks as if it wants to test 0.960 once more. A strong psychological level of ...
FACTORS OF CONFLUENCE
+ With overall bearish sentiment.
+ Rejection of 200 EMA.
+ 200 EMA converges with 50% Fibonacci retracement from the last swing from 0.79358.
+ Coincidence of the yearly, weekly, and monthly pivot lines being in the same area as the above confluences.
+ Price forming a bearish wedge ...
Price Rejected the Following Zone of Confluence:
+ Yearly Pivot Support. (Dotted Line)
+ Key Retracement Zone. (50% / 61.8%)
+ 1.860 Round Number Support .
+ Breakout of Bullish Wedge. (Continuation Pattern)
+ HUGE Bullish Pinbar on Weekly Chart.
I haven't entered this trade yet. I am looking for a retest of the ...
POTENTIAL FACTORS OF CONFLUENCE
+ With the Overall Bearish Trend
+ Contact With Trend-Line from the highs at 0.800
+ Price Approaching Daily 50 EMA
+ 50% / 61.8% Fibonacci Retracement From Highs at 0.75912
+ Approaching a Monthly Pivot Line (Light Purple Dotted Lines)
+ Approaching a Yearly Pivot Line (Dark Purple ...
FACTORS OF CONFLUENCE
+ With the overall trend.
+ Retracement into the fib value area.
+ Bottom of ascending channel.
+ Previous resistance level becomes support.
+ Look out for reversal candle patterns to the upside in this area.
(if this week closes with a doji it'll be a great sign of deceleration to the ...
Waiting for a nice buy signal on Swiss Franc/Japanese Yen (4Hour). Reason being: We have a previous zone of resistance violated by the latest swing. As you can see, the price action on this pair is strictly bullish. We can draw a fibonacci retracement from 111.257 to 124.596 to find a potential area for price to go ...
Ran my Fibonacci tool from the swing high at 0.827 cents to the swing low at around 0.80 cents to get a .618 retracement resistance level at around 0.820 cents. Confirmation was made with a beautiful head and shoulders chart pattern directly on that level with a broken neckline to the downside. Did I get the ...
First idea here. x____x Seems like a pretty good short opportunity in my eyes. We have a double top, rejection of the daily support pivot line, a 34 & 50 EMA rejection, Fibonacci "Killzone" rejection, "Tweezer-Top" candle pattern, and the current candle closed below the lows of the previous candles. Seems legit to ...