elliot ABC correction wave into 2 moth support, with a possible cypher pattern
Seems unlikely to complete, due to the multiple rejections at the trendline, however it is a possibility.
I am always looking for new ideas, and trying things out. I was messing around with the curve tool and put them in the blank spaces of this rising channel(Red lines). I noticed some confluence with some trend line convergence levels, and the resistance level from the low in 2012
I am always looking for new ideas, and trying things out. I was messing around with the curve tool and put them in the blank spaces of this rising channel(Red lines). I noticed some confluence with some trend line convergence levels, and the resistance level from the low in 2012
With the completion of the butterfly pattern looking for the .382 retracement level
first resistance level is 1.91 if it can't break 1.91 then will fall to 1.05 area. If it does break above 1.91, there is a strong Bearish trend line, if it breaks it looking for Gartley completion.
notes are on the chart! would love some feedback :) XAUUSD
watching to see what happens coming close to the bearish trend line. Price is above the 10ma, which is above the 50ma, which is above the 100ma. It almost touched the 200ma from below.
I just thought this was pretty cool. the lines from the first touch of the bottom of the triangle to the 2nd, 3rd, and 4th touches of the top line of the triangle, all intersect the time of the triangle completion, very close to strong Fibonacci levels.