Neutral Analysis 4H has some Bullish Divergence. Falling Flag/Channel Price created a Doji (Indecision Candle) at the bottom of Channel and inside Monthly Double Top Neckline Zone. Weekly and daily finished very Bearish (Full Candles) Next week will wait for confirmation to see if the pattern will play out for the upside/pullback or If price will continue...
Daily Overbought. 4H Bearish Divergence. 4H Doji (Indecision Candle) Expecting next week for price to drop out of parallel channel and at least hit the demand/support level 1.26500. Possibly could drop further but 1.26500 is the first area.
Expecting Head & Shoulders Pattern to continue towards Major Daily Trend Line. 15000-15200 as final TP area.
Overall Bias is for Sells but currently at strong Demand level (Monthly Neckline). Creating some Bullish Divergence on 4H and 1H. Price is currently between 23.6 and 38.2 Fib level. POSSIBLY an Inverse Head & Shoulder. Have to wait to see how everything plays out to see if it gives more of a full picture.
Triangle forming Hidden Bearish Divergence Currently at the top of pattern Waiting for NYSE open to confirm sell with volatility.
Monthly Shooting Star Candle Daily Head & Shoulders 4H Bearish Divergence 15m Rising Flag Pattern Using Pivot Point indicator as TP levels. S1 and S2 solid lines are intraday levels (today) Dotted lines are pivot levels for the week. Expecting price to drop to 15780 this week. Wait for break of pattern. Possible during London. Best time to trade will be NYSE open.
Update on Technical Analysis from previous post. Waiting for volatility and break of pattern for entry.
Overall Bearish Trend on higher time frame. Huge previous week drop. Expecting price to continue to Monthly Double Top Neckline 150.000 area. 1H Bearish Pennant forming. There was some bullish divergence created as well but think the pattern will play out first before making any moves back up. Possible pull back around neckline area. 149.850 is a weekly...
Monthly Double Top will be confirmed on Dec 1st. Weekly Bearish Divergence in confluence with Monthly Double Top indicating major drop. Oct/Nov 2020 (New Fiscal Year) price started its push up. All of 2021 was Bullish. Creating Bearish Divergence for a new currency cycle. Expecting all of 2022 or most of it to be a sellers' market once price breaks Monthly...
4H Bearish Pennant forming. In confluence with weekly and monthly analysis. See related idea for confluence analysis.
Monthly Double Top forming. Few days until Monthly candle closes. Weekly has Bearish Divergence which would help confirm the Monthly Double Top. Currently on 4H there is a possible Bearish Pennant forming. See related idea for confluence analysis.
4H Down trend Price currently retraced to 61.8 Fib level. Still waiting for 4H bearish engulfing for confirmation. 1H showing resistance with possible double top. Small early entry with stop loss at next retracement level. Scale in when 4H is confirmed. Using -23.6 as TP Level.
61.8 rejection 4H Fib 4H Trendline Rejection Hidden Bearish Divergence (Continuation)
Daily Bullish Overall. Currently pulled back to 61.8 on Daily Fib. Creating Head & Shoulder with 1H Bullish Divergence. If Neckline Breaks then expecting price to reach 155.430 area. Which is a weekly pivot level and 4H Trendline area. A lot of confluence and clear setup but still need fundamental analysis to confirm and help push price up. A lot of news...
Shooting Star Candle on Daily 1H Head & Shoulder 1H,30m, 15m, 5m bearish Divergence Engulfing Bearish Candle Looking for 300+ drop with 16000 as swing area.
Inverse Head & Shoulder Neckline Breakout will confirm. 1.36550 is weekly pivot level R1. Looking for swing to 1.36500 area.
Overall Bullish Trend. Currently at Daily Resistance Zone. Creating Bullish Pennant on Daily right under Zone. Next Week expecting a breakout of the Pennant. Swing Setup
Pattern Breakout Trend Continuation Using Pivot levels as TP areas