USDCAD was not able to break through the 61.8 fib level.
A possible trade on this setup is to open 2 small positions, both with the SL above the test of the 61.8 fib level. TP1 at the 50 fib level and TP2 at the support level showed in the graph. If TP1 is hit, move SL on the remaining positon to entry level.
If you have any questions or feedback on this...
Gold broke through the downsloping trendline, I now expect a retest of the former trendline, a test of the 23.6 fib level or one of the recently formed upsloping trendlines. If these levels hold as support there is a big upside potential on this asset.
If you have any comments or feedback on this analysis, feel free to share!
On the daily chart of Litecoin a Cup & Handle pattern could be in the making.
If the handle forms nicely the target of this pattern is 144.50 which would be a move of 50% +.
On the chart we see Bearish Divergence of price compared to RSI. This could indicate a pullback towards the upsloping trendline or support.
To trade this setup it is of crucial importance...
The price of Ripple is moving in a Bullish Triangle. When the price breaks out to the upside the target is 0.4337 which is a 54% move.
On the way up there are a few levels that might provide resistance. A potential trade could be to open a few smaller positions instead of a single larger one. Place the TPs just below the resistances. If the first TP is hit, move...
Below you'll find an analysis on EURUSD H4 chart.
Price on H4 broke the upsloping trendline to the downside. After a retest of the trendline price continued to move lower. Subsequently, price broke through support, found support on 38.2 fib level and is now testing resistance (former support). If price is not able to break through to the upside, more downside...
On the H4 graph of USDJPY, price was not able to break resistance (113.130) to the upside. Price compared to RSI also shows Bearish Divergence.
A possible trade setup could be:
- Short 3 small positions with SL above the resistance of 113.130 (111.3 for example)
- TP1: 112
- TP2: 111.7
- TP3: 111.1
- Once TP1 is hit, move SL of the remaining positions to entry or...
Below you'll find an analysis on the NZDJPY, Daily timeframe.
Price is approaching the downward trendline and the 77.688 level (23.6 fib level and swinglow of 31st of October).
If this level proves resistance, I expect price to fall to 76.105 (0 fib level). 75.930 provides a strong support so a potential trade on this setup could be to open 2 small short...
On the monthly chart, a possible Head and Shoulders pattern has formed a while ago (2003-2015). Price is currently in resistance zone (former support) and approaching the neckline , the downward trendline and the 50% fib level (1.21346). Now looking for a break upwards or a test of these levels of interest followed by a downward move. Possible events that could...
Below you'll find a short analysis on the S&P500 based on a monthly timeframe.
A lot of important cycles are lining up in the end of the year / beginning of the new year (half NOV 2017 / JAN 2018). Possibily this marks a turning point for the markets to set the final high after which a major correction can take place.
Targets for the correction are:
On the 4h chart a Head & Shoulders pattern is in progress. If price breaks the neckline, the target is +- 14700 based on measuring the gap between the neckline and the head. PLUS on this point is also a trendline which can provide support for the price. The 2 possible Elliot Wave scenarios that I have in mind are:
Scenario 1(blue scenario): Wave IV has finished,...