High probability trading occurs
when you add up standalone techniques together
to increase the probability of an outcome occurring (price increase/decrease).
Trend line touch
Three drives pattern
Ichimoku time theory
Massive selloff of the Dollar after the Fed hiked interest rates.
Investors and traders reduced exposure and shifted risk over to the Yen and Swiss Franc.
Completion point of bullish Cypher in confluence with 50% retracement level.
On the lower time frames, there is RSI divergence
and depending on how the market opens in the New year,
we may get a double...
Deep bullish butterfly pattern.
Was not involved as I've stopped trading for the year.
Using conventional targets of 38.2% and 61.8% levels, they would become new levels of resistance.
Overall consensus still bearish. Would like to see price retest the 1.2500 level, and we'll see from there.
Price has been ranging in a pennant pattern since the start of 2016.
Currently, gold has made a high momentum bullish move due to the major correction in the stock market.
Price is making its way up to the 61.8% level, along with RSI divergence, trend reversal is expected.
Previous resistance became support,
then became resistance again,
after price action broke below horizontal support level at 1.1500
Falling wedge pattern,
along with RSI divergence,
price could go either way, depending on the type of breakout we get.
Price action is currently making a bearish move down.
Although bearish momentum is high due to high selling pressure,
the Pound currently in oversold conditions.
With RSI divergence, bullish reversal in price is expected in the short term.