Based on Hunt Volatility Funnel theory we can expect squeeze on pair towards continuation eg down pair has drown typical 3 tops and 3 lows forming funnel. now we are at decision point forming so called primer eg funnel within funnel on shorter time frame. I assume we can get nice short enter possibility at round number eg area 146.5-147 Stops very tight as shown
SHORT BAT PATTERN ELEVATED AB EXTENTION LONG TERM CEILING AREA
WAIT FOR COMBACK TO RISING TREND LINE , THEN AGRESSIVLY LONG AT 110 AREA -OUR PRZ TARGET 114,4 AREA REVISITING ON 2,24 AND 3,14 EXT- CUMULATION AT THAT REGION
POSSIBLE SHARK FORMATION AND 2.44 EXT OF AB LEG LOOK FOR ENTRY REASON ON LOWER TIME FRAME IF WE GET TO PRZ
SELL AT MARKET PRICE DOUBLE TOP REVERSE ON DXY NEGATIVE TO COMMODITIES RSI DIVERGENCE TARGET 50 -AS 0,618 OF LAST SWING
UPPER RESISTANCE ON FALLING CHANNEL. PROBABLE RETEST OF LOWS FROM LAST SWING NEGATIVE WORKING ARE FORMING PIVOT PATTERNS ON GOLD- 2618 EURUSD -EXTENSION CUMULATION DXY - BAT PATTERN TARGET 14,5
GOLD seem to be forming 2618 - doble top with retrace 0,618 right now it coincides with long term resistance -red line additionally DXY -dollar index seems to be forming pivot point right now the same with pair eurusd silver is on resistance line in channel suggesting further falling move
GBPNZD HAS OVERCOME LONG LASTING FALLING TRENDLINE-FAT RED WAIT FOR RETEST RISING GREEN TRENDLINE ENTER LONG AT 1,76 AREA STOPS AT 1,7249 TP1- AT 1,90 -LOCAL HIGHS FROM 20-07-2016 TP2-AT 1,95 -EXT ABC SWING MOVE
ON CHART YOU MAY SEE THE DOBLE BUTTOM WITH 0,618 RETRECMENT WAIT FOR ANOTHER PULLBACK IN AREA OF 1,6418 FOR BETTER ENTRY AND RRR SL 1,6139 TP 1,76
Price development in recent months suggest convergence opportunity in comming month. Current percentage gap should be narrowed in 3-5 months time horizont.
HERE THE ALTERNATIVE APPROACH BASED ON SHORT SHARK PATTERN TIME ZONE XB- ENTER POINT TIME ZONE BC FIBONNACI SPIRAL BC TARGET BASED ON: -0,618 FIB FROM CB -SPIRAL FIB -TIME ZONE EXT- I ASSUME GREEN -FROM XB
ON CHART WE MAY DEFINE SHORT CRAB IS FORMING WITH D LEG AT 0,806 WAIT FOR FORMING DOUBLE TOP TO CONFIRM PRZ SHORT AT ROUND NUMBER 0,805 SL 0,8135 - CURRENT ATR 77 TP 0,7728 ASSUMING PREVIOUS RESISTANCE WILL HOLD -GREEN LINES- DIVERGENCE ON RSI
Buy long crab pattern at market level or wait for double buttom at these levels. Generally NOK and CAD show parallely signs for rebounding which suggest weaker oil in mid term oil is currently traded at upper line of falling channel which will prompt short bets..
Trendline suggest we could expect weakening rubbel in comming days. it coincides with potential pivot points on other oil related currencies as CAD and NOK and Oil itself. look at my other today's ideas related with oil
Oil is hitting upper line of falling chanel. It could prompt investors to reviews their mid term view. CURRENCY PAIRS LINKED TO OIL USDCAD AND USDNOK SHOWS SIGNS OF REVERSING... Saudi Russia talks may not neccesairly end up with cuts
On weekly and daily chart we may spot strong support level. I enter market long position with view on rebounding US Dollar strength... and weekness in Oil currencies
Potential Gartley pattern which could create double bottom.that's why my dobble approach with classical and very aggressive setup when it comes to entry and exit points. Look at my previous oil chart....
Obvious convergence trade. Time horizont 3-4 months