1. Obvious divergence present (momentum/price) 2. Sideways movement 3. missed daily and weekly pivots below the current level Go short on break of horizontal resistance at 9895 Target: 9690 (38.2 Fib retracement, half a way to the missed weekly pivot) SL: 10050 - above the recent high
Price might be forming the H&S pattern. It will be confirmed if the formation's neck line is taken around 69.40. The target of the formation goes as far as 75.00, but it might be good idea to take some profits around 71.00 which will be completition point (D) of possible GARTLEY pattern forming here, plus we're in the strong down trend which might be resumed after...
1. Missed pivot below the current price, 2. Divergence on momentum indicator, 3. Possible H&S pattern to be confirmed on break through the neck line (horizontal support), Go short on break through H&S neck line or wait fot the pullback after the break. Target: 9365 (H&S target), SL: 9530 (above the highs). Happy trading!
1. Divergence (red lines) 2. Missed pivot (around 9070) 3. Sideways move, 9240 prroved to be support which was broken an retested. Go short at market targeting missed daily pivot and stops above the recent highs at 9360.
1. Multiple Divergences 2. Missed pivots (daily & weekly) above 3. Sideways move BUY on break of resistane level around 80.70
The pair should at least fill th gap with this setup above 1.63. Stop below the daily pivot which might end up being missed.
As we do have two missed pivots in row above the price technically and some level of uncertanity in the market it brings opportunity to go short on the break of the rising turbo purple trend line. Go short targeting nearest support level around 6780 and more depending on price action around this level. Stops above the recent highs. Happy trading!
Wolfee waves pattern may be in play. Sell if it goes below 9625
To get even more confident, we just got another setup for shorting DAX - trifecta trend trade by Rob Booker. See comments on chart.
Following the rules of Jason Stapleton's (@Jason_Stapleton) 2618 strategy there is nice opportunity to short DAX. Specially that it nicely fits to the idea published yesterday (see below).
An area for perfect ABC correction (AB=BC) completion is reached at around 0.618 Fib retracement of the previous impulse leg. It means that another impulse to the down side might be on the way. Small position might be taken at current level and add to it after breaking below b point. Stop loss at 9900. Happy trading
Go short on turbo purple trendline break. There is nice, evident divergence on momentum indicator (built while RSI was in overbought area). We've got some missed daily and weekly pivots which shall be eventualy hit at some point plus possible evening star candle stick formation on the daily chart. OK, trying to pick a top here but profit potential might be worth...
Yesterday we had a very narrow range. The lower open today breaks the trendline and if sell off continue, we might get evening star pattern on the daily chart. Obvious divergence also visible on momentum indicator which supports this idea. Initial target at support around 189, but looking forward to get to 188.
There are some pips to pick up from short on EURUSD here. 1.39 is 0.786 fib retracement of the previous move down . We're seeing nice divergence on momentum indicator and nice bearish candle is forming on 1H chart. Place tight stop above 1.39 with initial target at 1.381 - the broken resistance which might be retested.
Very important 1.55 level seemed to hold and nice H&S pattern is forming (check 1H chart). The D point of the potential Gartley pattern has not been reached (which was my ideal short entry point), but as 1.55 is so important it is not really a surprise. Go short on H&S neckline break (blue horizontal line) or wait for the trend line break wich will be additional...
Position taken last night was stopped out (). Now we're facing another possibility - pretty much similar to the former one. Momentum divergence still in play. Sell on break down from the rising channel. More aggressive sellers may sell the break through 0.236 fib level. Initial target: 1.5145. Stop above the recent high.
An aggressive move up might be over as pair is leaving the inner rising channel. Take short if recent low is taken. There is nice divergence on momentum oscillator and we're right at 0,786 fib retracement. Initial target at 1.519 with SL above the highs. Be careful as EUR was strong all day while we saw a free fall on AUD all day long (just printed new low)....
Last days in relatively thin market EURUSD hit the long term trend line. Entire structure starting in 2008 looks like correction and it is possible that we'll see one more impulse leg down. I'd short this pair if it closes below 1.36 with the stop above 1.4 for the long ride down. Happy trading in 2014!