The double top I published before acted more like a cup and handle and is now testing the top resistance for a third time in a short time span. If it breaks resistance it could have an easy path to the 1.618.
USDCHN is in a long consolidation channel right now and it just hit a double top testing the upper bound of the channel.
Will enter after the neckline and look to exit at bottom resistance. Keep an eye out at that resistance as it could break the channel for a healthy short
Not the best R/R at 1.7 but high confidence.
Not the cleanest Bearish Crab but there are other things at play here. It just tested a historical resistance (red dotted line) and turned around. That said I think it will at least go down to the B (1.79931) and if it breaks through that it will confirm the Wolfe Wave Pattern (see gold dotted trend line) and make it's way down to at least the C (1.76052) or...
Was looking for a Bearish bat pattern and found a triple bottom. Looking for it to potentially act like a bearish bat upon if it decides to reverse convincingly around the final profit target
Stop Loss: 18.42715
Target 1: 18.79252
Target Final: 18.91971
Potential Short Position: 18.91971
Profit Target: 18.5
Will flush the short out more if it...
This resembles a bullish butterflies but a mirror image... Has potential to continue down to the 1.68 and form a text book bullish crab. If the next candle remains above the trendline (105.214) then it's an immediate buy.
Very clean ABCD pattern with a big spike off the D.
I think it will turn into a 3 Drive and bounce off of the new .382 and run down to the 1.618 which happens to be an old support.\
Will add the macro chart in the comments because I think it could go even lower (red dotted line)
Just completed a very clean ABCD Pattern and bounced off the 1 Fib. Zoom out and you'll noted that the D was the end of a cup formation.
It seems that it has already dropped to what could be the bottom of the handle and could soon be ready to make another leg up.
The next leg up will test the 1.6 again and could break creating a three drive pattern.