Hi Guys, i think the chances for a longterm bullish setup here are quiet good. Bounced of longterm Fib-Retracement 61.8. Broken bearish trendlines, retesting them.
Possible 5th Elliot-Wave completed. Possible H&S forming. Longterm Mid-Trend-Channel-Resistance hit several times. Good Luck
Maybe we have a cyclic Pattern with next high end of july. The Downtrend seems to come to an end after bouncing from 76 Retracement and making higher highs. If resistance (red box) can be broken - the way to the downward trendline may be open. If SL is under last low its a 2.3R .
Hello Traders, i think we see a Shoulder - Head - Shoulder - Pattern here. Neckline has been broken and retests now.
This in addition with bullish engulfing on mid-bolinger-band an violated descending Trendline could be a nice opportunity for a long setup.
nice bullish engulfing candle on daily timeframe after strong bearish rally + loosing momentum in downtrend - little divergence in stoch and macd. I'm expecting a pullback to Mid-Bollinger Band or upper Band / Resistance.