looking good for a continuation of a downtrend due to rejection off of the trend line and could be a impulsive wave or push downward for a good 90 pip + profit! This is a swing trade setup and will take a week or a little more for completion!
So it can only go two ways! I am waiting to see which one confirms. If we get a bullish engulfing candle off of that support then I will look to go long for a reversal BUT if we break through support I expect the past support to turn into a very strong resistance and send this pair much much further down for the remainder of the week! Let's wait and see what...
So mainly been focusing on EURUSD but decided to open up gold and saw this great structure. What I see is a pullback to a broken down trend line and then looking to go long.
So looks like EURUSD has broken out of a descending channel and my prediction is it to correct back to top of channel trendline structure and then looking to go long to 61.8 fib level! We will wait for confirmation after a correction occurs if bulls continue to keep winning. Make sure to use smart risk management and always have a stop loss and target in your trade!
So looking good for a jump to the downside. Double top formation has formed at a strong previous resistance. RSI is also showing very overbought with strong momentum to the downside. Will look to fib level 61.8 for target price. Will wait for confirmation to enter!
So I see a double top formation happening at the moment also we are very overbought on the RSI. I will wait for confirmation to look to go downward but if if we break previous resistance point of double top formation then I will look to go upward. I believe if we continue down we could hit 61.8 fib point or possibly even 78.6 point.
So similar to EURUSD the bears took over at market close time and I predict that this bear run will continue and test the consolidation channel support and if it breaks through We will see a big run to the downside to look forward to! Be patient and wait for confirmed entry!
So as we saw at the market close this Friday afternoon bears are currently in control for this pair. It is in a consolidation channel as you can see and I am looking to go further down especially if it can break through this consolidation channel. Will wait for confirmation when market opens and sell!
So this is an analyzation of the daily chart of EURUSD. It looks like a clear short setup within the next few days hopefully dropping to 61.8 fib level and then continuing downward to the 78.6 level.
So it looks here as bulls have taken over on this pair due to a weaker USD I believe we will have a pull back towards a now upward trend line and then will be going to the next resistance point which looks to be at 1.618 fib level! Will wait for confirmation to enter!
So our earlier prediction did not follow through! We did not take a trade practicing our patience so what I see now is a rejection off of a 61.8 fib level possibly happening at the beginning of market open on Sunday! I still believe bears are in control just a bullish correction and then hopefully following with a downward continuation. We will wait to see what confirms!
So it looks like this pair has been bouncing around a big support for a while but it broke a small trend line and is now pulling back towards it. My prediction is that bears are in control and after this upward pull back it will be continued by a big drop! Let's patiently wait and see what happens!
So here is a better look at what I was describing as the continued pattern. As you can see above the most recent correction there are small counter trend lines where when broken followed by a heavy drop to the downside. It looks as if once it breaks through this last counter trend line it will have a continuation to the downside. Will wait for confirmation before...
GBPUSD pulled back and then moved to .618 just like predicted. Waiting for pullback back to upward trend line and then looking to go long until next resistance above (1.33110). If we can break that previous resistance then looking to go to next resistance point (1.34420). Other option is that it breaks upward trend line then pulls back upward and continues a...
Looks like it is repeating the downward trend pattern that has been happening recently and after it breaks counter trend line it will continue with a heavy drop to the downside.
