Price below Kumo cloud Bearish signal from DMI Target after next swing low Stop above Ichimoku cloud and the resistance zone Fundamentals (Brexit distaster) support GBP fall
I would expect a reversal between Nov 26 and Dec 11 due to a several factors 1. 14 RSI in oversold zone 2. 21 RSI hit a trendline 3. We are approaching Fibonacci time extension next week 4. One year cycle is about to hit December 11, in 2 weeks 5. Current weekly volume is less than during previous major drops - as compared to 5 Feb, 12 Mar and 11 Sep weekly...
So far, as for 24.11.18 USDISK rapid rise was hold by 0.61 Fibonacci retracement which is a great sign. It has been hovering below that level for days. We had a fine 1-5 Elliot waves cycle on monthly and what we are seeing now is very likely to be ABC correction of that cycle. Usually, ABC correction retraces to 0.61 level. If current month (we have 7 days left)...
We are about to hit the next two Fibonacci time extensions (extended between previous ultimate lows, after close). Starting at 0 price makes a high at 0.618 Fib time extension (with pullback at 0.38 Fib time, Elliott wave 3, it also pulls back at 50 time extension as it did on 29.11, but I removed 50 not so important Fib time level) then retraces (Elliott zigzag...
Nison Candle Software identified Morning Star on BTCUSD daily (I use Hotforex chart) along with Bullish Harami and Bulish engulfing. Now Kumo cloud resistance is pushing price to the Fib support and lower BB band or red Tenkan sen might hold it as well. From there it will shoot to the bullish kumo cloud as it did previously. Morning Stars on BTCUSD were detected...
As you can see all future clouds are bullish.
Price is in dowontrend on weekly with massive bearish Kumo clouds. Minor Ichimoku has bullish cloud, so we should see some pullback next weeks as we hit the cloud bottom and range box upper support.
Bearish pattern occurred at an important resistance level - horizontal trendline and Kumo cloud.
NCH software identified 3 bearish patterns on EURZAR 4 hours chart.
Price touched daily trendline and formed evening star and bearish divergence. Stochastics confirms short position.
Bullish reversal pattern at Kumo cloud support. Stochastics confirms the long position. Price trends in bullish market - above 200 EMA.
This seems to be Elliott wave's corrective descending triangle.
On the top of this Elliott wave cycle we have got a fine weekly Evening Star (bearish reversal 72 percent of times). Now price closed below the daily trendline and the Elliott zigzag ABC correction wave is to continue, usually to 38 percent Fibonacci level. On hourly chart, price might do a 30 pips bullish pullback (as we have got MFI 14 bullish divergence) before...
Fine bullish hammer (pinbar) off 38 Fibonacci support. There are bullish engulfing and bullish harami patterns at previous candles as well. I expect price to shoot to the next Fib extension. Trendlines after CLOSE. MFI (14) oscillator confirms long position( turned from oversold up).
Price is moving in a clear channel. Channel trading is the simplest way to trade...
70 pips to go to the upper channel line and Kumo cloud resistance.
Daily Bullish engulfing from Fibonacci support and bullish Kumo cloud support. Price will reverse once it does 61 percent retrace into bullish engulfing pattern. I suspect price will reach 1.61 Fib extension. This is a long term projection.