Looking for a small pop Monday, but staying below previous highs, if so this could be a great short entry; looking for a re-tracement of about 90 pips to the Green line for my take profit. Being an uptrend no, need need to get greedy on the pullback.
Chart is setting up nicely for a move down, this time we've got bearish divergence as shown by the yellow lines on the chart and stochastic. My take profit is marked by the green dotted line, could go lower but this is a conservative place to close the position.
We've also got spinning tops forming under 3 major Moving Averages, shown as 240, 100, and 50 Day....
We've got hidden divergence on the Daily shown by the yellow trend line and on the stochastic indicator below, were sitting pretty below our 50/100/240 MAs and we've got a shooting star 2 days in a row.
Wait on US employment news tomorrow at 8:30 to settle, potential entry Monday.
Profit Target 60 Pips below, see the $.
Looking at the Daily (left) and 4 HR (right) we've got bearish divergence aligned on both time frames. Today or Monday offering a good entry point, with a profit down to the target (green flag).
Also daily chart is looking like a Shooting Start at the top of an uptrend.
Looking at the Red Resistance, we've got multiple highs unable to break resistance, as indicated by the yellow count. Looking at the stochastics below, you can see the trend losing momentum with each attempt up. Look to go short and ride the drop!
Looking at the daily chart on the left, we've got Bearish Divergence highlighted by the yellow trend lines. Look for a short entry around 109.15 down to ~108.08
Looking at the Weekly chart on the right, you can see a potential bullish entry coming for the longer term, so at ~108, may be an ideal place to close the short, and open a Long Position (on the blue...
Looking at the two charts, left side daily, right side weekly. We can see on the Weekly Chart lower highs, but higher highs on the
Stochastic (shown at the bottom) indicating Bearish Hidden Divergence. Looking further at the daily chart, we can see rejection at the 240 MA (yellow line), then rejection at the 100 (blue) and 50 day (green). Look for a Short entry...
1. Looking at the Chart, Hidden Divergence present on the 4 hour chart.
2. Moving Averages are flat, with the 240 Day acting as Resistance
3. Bearish Engulfing candle on the 4h.
Confirmed on the MACD Platinum in Metatrader as well.
Looks like we have a completed 5 wave sequence with a 3-3-5 Flat Correction, could see a new wave one or a continued correction, but in the short term, I think we have a bullish entry for part of next week (ignore the 1.618 take profit)