There is the potential of a Harmonic shark Pattern forming on the 5 hour Gold chart
It is a variation of the traditional M and W patterns. The Shark pattern is made up of two separate price segments: on the one hand, an impulse wave that fails, and on the other, an impulse wave that reaches extreme levels.
There are traditionally two reversal D points ... an...
This is a long-shot and not the best Cypher Pattern , but worth mentioning.
Not saying this will happen but lots of balls in the air these days and certainly some trapped cyber bulls may be feeling some pain.
Next stop the red line ... around 53,000.
Interesting enough Point D happens to be the mid-line of a Modified Andrews Pitchfork
Just a view... not...
EURUSD has trended down since May and to a greater degree since January 2021.
Presently there may be a reversal opportunity based on a present harmonic.
I suggest a reversal zone area and an entry point to ensure the trend is reversed.
Suggested targets and a stop are shown .
Additionally we are at the middle point of a defined channel, often a reversal...
Despite the incredible amount of internet hype on Gold/Silver and pending inflation, the price of this commodities seems to be going nowhere. Cyrpto has stolen some of these shiny metal's thunder
While this chart may be confusing it does illustrate several things.
1) We have been in a $120 range since mid-July.
2) The price trend has been down since August...
Interesting times...merge of 2 cypher patterns and a possible close below the spring high.
Just watching as a student of the market ... no involvement.
If we do break a logical target would be the 52,500 area.
Do your own due diligence
CNQ on the TSX would be a likely sale candidate if oil rolls over.
Recent price action has traced out a Deep Crab Harmonic Pattern.
While Deep Crabs are quite reliable, Point D often extends past 1.618 to the 1.92 area.
So watch this with an eye to take advantage of price exhaustion.
I have added a WTI overlay in $CAD for reference.
Not investment advice....
I am looking at a American Barrick (GOLD) purchase opportunity on weakness at slightly lower levels.
My trigger level is a PRZ (Price Reversal Zone) from approx $16.90 to $15.90 which would satisfy the completion of a bearish Crab pattern and the initiation of the final leg of Cypher pattern whose price objectiveiisi around the $27 level.
If things fully work...
Shark and Cypher Harmonic Patterns on a short term chart would indicate some caution.
If long one might consider taking a 1/2 profit.
Probably a sell below the horizontal line (approx 53,200).
Optimal targets on the cypher are 49828 and 45912.
Overall trend still appears up so be nimble on this one.
Not investment advice. Do your own due diligence.
BABA has lost over 56% of it value in the past 12 months and is now approaching what we believe are support levels.
Additionally we have detected a possible Butterfly Harmonic reversal pattern which may give investors some hope,
This is a weekly time frame and patience is needed.
As usual this is not investment advice. Do your own due diligence,
Lots of patterns in play as we approach NFP (Non Farm Payroll) tomorrow.watch politicians make fools of themselves, get deeper in debt ... as world tensions increase.
Take your choice,
I personally favour the $1710 area as the next stop but who knows.
Be flexible and nimble.
Not investment advice
Gamestock (GME) Short and longer term Gartley Patterns could give this a pop.
On a 2 hour basis GME tried to rally, fell back and is now mounting another challenge.
As always do your own due diligence and have the broad markets at your back.
Momentum appears to be turning up as per the bottom panel.
Be nimble on this one !!
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A confluence of several bearish patterns are forming on AAL ( 4 hour basis.)
This suggests a sell (exit) position on perceived AAL and general market weakness.
Additionally momenteum appears to be topping.
This is not market advice.
As always do your own due diligence.
This may be a profitable long shot.
Hormel Foods (HRL) is at an interesting juncture.
Basically HRL has retraced 50% of the 4 year run-up from October 2017.
A Harmonic pattern would suggest a possible pause and reversal here.
Additionally CD is a 1.41 extension of the AB leg which is marked.
1) This is a weekly chart and could take a while to to...
Don't even consider this until 11 am tomorrow
Watching for this double bottom to hold
Added an entry above current levels to confirm a trend reversal
This is a very high risk trade
My suggested roadmap with entry and targets
As always do your own due diligence.