price action seems to have established support on the 61.8 retracement level following the initial impulse from the buy zone of the range. Looking for pair to hold above .9500 to start the week and seek swing positions to parity.
Weekly TF technicals have shown a breach of short/intermediate term MAs and psychologically important support levels.
Divergence and a crossover on the MACD support the case for more downside.
My immediate thought is where will price find support?
2580 seems like the next significant level as the market retests the lows established earlier this year in...
I believe the market is in a wave 2 correction following the reversal impulse on the intra day charts from the low made earlier this month from the .6700 level.
I'd like to see the running flat complete wave B in the corrective sequence and drive price down to the demand zone one more time to finish wave C at the 88.6 fib.
I'm targeting 100 pips
the pair has reached the high it established at the start of the year.
Confluence with a bearish gartley and an intra day double top in the resistance zone, and my immediate bias is bearish.
First target 110.85
Second target 110.00
Last week, the stock closed above the ATH it printed back in the beginning of the year. After the dip it took following it's privacy concern issues and the overall market's choppy start to the year, the stock looks poised to continue the bullish trend.
MACD signaled a buy on the weekly chart last month in conjunction with the pop back above the EMA band.
I'm hoping I'm counting this wrong lol but if this is indeed the end of wave 3 for the S&P cycle, there's a huge potential downside move as the market enters the corrective wave 4. The market fundamentals are still bullish and there's nothing suggesting we're in for a downturn just yet, but it's an interesting observation.
As always will be keeping a close eye on...
Weekly chart is showing us multiple confirmations for a continuation to the downside.
PA showing a double top at the 1.40 price level, suggesting a strong point of previous support before breaking through mid 2016, has now turned resistance.
A break below the neckline and the EMA band came in conjunction with the MACD sell signal.
There's a range between...