fibsfriend

fibsfriend

Bat

fibsfriend

Bullish gartley - 78.6% XA, 141% CD, 127% AB=CD all within tight range - Support from Sept low - 61.8% target would make a nice shoulder with late August high, at which point a short may be considered again.

fibsfriend

Long

fibsfriend

Bat completion Upper trend line Previous resistance

fibsfriend

Bat completion Upper trend line Previous resistance

fibsfriend Updated 

Retest of the downtrend from 2014-2018 (think that line may be retested again in future but only after correction to 1.35-1.43 - D point of gartley perhaps?) 61.8% 2018 high to 2017 low (if you forget about flash crash, especially as each broker has a different low, then 2017 low is also multi-decade low) On a shorter-term basis we are also at the bottom of a...

fibsfriend Updated 

Textbook ABCD Lower end of descending channel 61.8% fib from 2017 low/2018 high

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Info on graph

fibsfriend Updated 

We have a convergence of the following within the space of a few pips: 88.6 XA 1.618 AB=CD 2CD 4th touch of a weekly trend line that has formed since last years lows

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Inverted H&S

fibsfriend Updated 

As some of you may have spotted i recommended going short this morning at 1.344 for several reasons (idea below in comments). My bias is still short but we don`t often go in such a straight line and, as well as already reaching this morning´s cypher pattern targets, i´ve noticed that a temporary reversal from 1.326 area could lead to a H&S being formed (within a...

fibsfriend

Reasons to short: We are back at previous support now turned resistance Cypher completion Potential head and shoulders Continued UK political uncertainty

fibsfriend

Reasons: Bearish bat completion 3 drive 1.618% completion Previous support now turned resistance 61.8% fib (May 10th-29th)

fibsfriend

I´m sure you have all seen it but an extra observation that i find interesting is that if we do see a drop down to the lower trend line today then that would also confirm a nice AB=CD on the day, having just retreated 50%. A big drop from here i know, especially being a bit late in the day but it wouldnt totally surprise me and would add a bit more ammo for long...

fibsfriend

Confluence of: Lower line of daily/weekly upward channel stretching back from early 2017 Lower line of hourly downward channel from mid-April of this year Retest of hourly bearish trend line that formed from late Jan to late March this year (green line) 2017 high Confluence of fibs (76.4% 2018 low/high, 61.8% 28th nov-17th April low/high, 50% 6th Oct-17th April...

fibsfriend

We have a daily/weekly trend line just at the completion point of a potential Shark pattern. It also looks as if a downward channel has formed to bring us to that point. Being at the top of that channel as we speak, a short from here may be the best way forward in my opinion. And if my idea does prove correct my target price would be around 1.37, depending...

fibsfriend

Personal opinion is that this will go to 1.474 before we see any huge drop

fibsfriend

Short from 1.474. Why? If it reaches that area soon we would have the following: 1. Top of weekly channel 2. Nice AB=CD 3. Area has acted as an important reversal zone over the past decade