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Looking for a reversal here.
Looking for this to rise
I like the look of this setup, lots of confluences happening including the 61.8 AC aswell as the 161.8 BD along with the channel. Technically this setup should go well.
Taking this one early, although no clear pin bars are present there is precise confluence with the channels, putting a stop under the 161.8 fib and I would like to see this go much higher.
Price has clearly reacted to the 161.8 zone, this along with strong confluence of the channels you should expect this stock to keep rising.
With a good reaction to the 161.8 BD area, confluence with the channel I would expect price to continue rising. I will evaluate exit upon touch of the higher channel.
Price has reacted to the AC X channel midline as well as the 78.6 XD area, price looks to be coming back to entice more shorts but I think a double bottom is in the works. I'm looking to target the top channel for a take profit making this a 6:1 trade but I will look to see how price reacts there before closing my position. Have place a generous stop below the ...
Looking for a reversal from this point in time, the final leg is in the extension range of 1.5-1.618 which I prefer on my harmonic patterns, also you will notice that a symmetrical channel, if the channel was not symmetrical I would expect price to go higher but this is not the case. Stop will be placed at the 1.618 level. Target which is very optimistic will be ...
So presented here is an outside foxwave or harmonic pattern, market is very sideways so there isn't much upside, maybe the market will go sideways for a little while once in the trade so we can get a better profit. As I will be using the red trendline as the tp for this trade. What I like about the trade is the 3 pins dropping below the support (black horizontal ...
Price has moved up and reacted cleanly to the outside foxwave resistance with a pinbar, this is a clear sign that possibly a reversal is about to happen. Placing a stop at the nearest previous top detailed with the blue support line, and looking for a take profit that follows the red diagonal trendline from that same top.
I see a buy signal here, with good risk to reward.
Another outside fox, looking for a decline.
Present is what I like to call is an outside foxwave pattern, looking to put a stop just above the pin which co-insides with the previous high at the beginning of the pattern, take profit will be the diagonal red trendline.
Harmonic type pattern presented, good R:R
Harmonic pattern showing when scaled out, with good stop from previous high.
A correction in order
Price Action to confirm this set up.
Looking for some price action to determine direction. Short bias.