When the very end bullish pattern broke when it hit an important Fibonacci level which was at 14.93, it began breaking a series of support trend lines, each one making a pullback and then going down. In the last yellow trend line, it tested the the pullback trend line twice, and it still went up and this is because it has to follow the new downtrend, however,...
It is too soon for another correction to the bottom of the support line. The market just spiked and it's not common for a US index to go down like that again. Also other markets need to breath. Probable bounce over the horizontal support line.
Some Indexes are following a very similar double level bullish pattern. AUS200 is one of them.
Several indexes show a similar double level bullish pattern, AUS200 is one of them.
Chart says it all. Viewed from the same perspective as SPX500 which shows a firm trend line. If it doesn't go up and it's not creating a fake break-down, it would be very terrible for FRA40. We would be talking about a big correction to 3300-3600 areas.
There is no other significant support to save this plunge.
When it looked like GBPUSD could break down in a 2nd attempt to go down, it fought not to do it with a strong bullish candle, however, this pair is still inside the same trend since December 8 and can still break down or break up. Wait for confirmation
This pair is deciding between going bullish or continue going down.
Watch the latest trend. When it breaks, take this big opportunity.
Watch the latest trend, once it breaks, take this big opportunity.
A continuation on what appears to be a top. Last top failed to pass through the trend line forming a fake break and returned to touch support, forming the classic head. Right now it seems to follow a bearish trend towars the horizontal support to test it and possibly break it.
In a what appears to be a psychological game, investors seem to find what can be found left to start looking for support and resistance lines. Starting in October from the big price plunge. The first orange trend line was made until it found the blue resistance line, which was an old trend resistance line from 2009 to 2011. With the correction made, it followed...
EUR/USD touched a big support line since 2010 and rejected it with a little bullish action. However, we still don't know what pattern it's going to make in case it goes upwards.
AUD has been very weak, however, it had to come the time where it hits a resistance trend line, and we can see how it didn't break successfully the previous top in the hourly chart, forming a pin bar, rejecting not only the hourly trend, but the daily trend as well. There hasn't been a secure confirmation. However right now it's the time where it broke the...
NOTE: I DIDN'T PUBLISH THE MULTIPLE CHARTS. VIEW NEXT IDEA TO SEE THE MULTIPLE CHARTS. SORRY FOR THE INCONVENIENCE. MODS CAN DELETE THIS.
There is no other support next to the horizontal support lines crossed with a symmetrical trend line since October 16 and a Fibonacci retracement of 38.2% . So, it's either breaking this support and we continue having a bearish price (unless we have an underground new bullish trend) OR we continue the uptrend to test again the red line.