looking at the pattern that recently formed on WTICOUSD I believe we will be correcting upwards for at least $57,44. This isn't much as a trade set up but a hint of what's to come with correlating pairs, such as USDCAD.
I saw a chart of someone going long on this pair, of course, this isn't a blind copy paste, I identified my own patterns and entry reasons. I'm looking for a complete reversal of the trend that began in early may to at least 50% of the original trend.
set up: identified pattern after the 2-month trend and now crossing above the 200 EMA
After the strong impulse up and hitting a major weekly support level, it MAY be time for a reversal. once price confirms the new trend (short term / long term) i will be in.
TP.1 - 2:1
I will place a protective stop when price hits the 50% fib lvl.
short after sharp impulse up.
This chart was brought to my attention via a post on facebook, and generally speaking, I don't trade from what I see others post, however, I recognized my trade set up forming so I chose to enter.
second push down
After a bull run that lasted 2 months, now may be the time for a correction or a reversal. although I am having conflicting thoughts about this trade. if price goes in my projected direction that would mean a strengthening of the Pound over the Euro which I don't see likely amits this whole Brexit situation.
Would be interesting to see how this plays out for the...
although this trade would go against my long term set up on Cad but following the second push price pattern it looks like we well head downwards.
TP.1 - 1,3:1
TP.2 - 2+:1
second push down but I would ideally like to see a break of the trendline.
looking at my analysis from last week price behaved just as predicted. now we see an ascending triangle forming this could either we an ending diagonal to form a Z-LEG on the higher degree or price breaks out and make it to the rearest support level.
last week I posted on that usdcad is in a corrective move, and is currently making a final push to the blue box. However, this week we got another push down into the corrective structure, this shows that the correction is not yet over. assuming my count is correct we will be coming for a Z leg in the minor corrective structure before going northward for a Z on the...
as continuing from my previous post, we look for a reversal from a high and we look for a retest and trade on the failure of the retest before it reaches the top. in this example, we see price already dropped quite a bit so it would be better to place the stop loss at the high of the retest to make for a better R:R.
When a solid trend is established with higher highs and higher lows (blue). We look for price to reverse and create a low (Doesn't have to break a low as shown on the chart). once price successfully reversed we look for it to retrace back towards the original trend, in this case, to test the high. once we see price fails to test the high we now know that the trend...
I marked this up yesterday but forgot to post it, after getting some premarket momentum to the downside as predicted. However I do not think the crash is happening yet, but it's obvious that the dow is losing momentum from the bull run experienced earlier in 2019.
After moving in the predicted direction for 54 pips price reversed rather impulsively to the upside, this made me reanalyze my count and this is my current count. Be on the lookout for the resistance level 1.3466 first set in early March. If we break and hold above that level we could be looking for a Z leg on the primary degree. I personally believe this leg will...
since the beginning of April Ucad has been stuck in a 104 pip range and has created confusion with my analysis. however, I believe we are looking at a stretched out flat correction starting 7th march to now so we can get our final leg up before we get the expected drop. the pattern that was developing during the month of April I identified to be a WXYXZ and will...
I noticed from personal observation AUDNZD respects S/R levels more than other pairs. what I'm looking, for now, is consolidation for this pair has shot up without a break and divergence on the macd is starting to show. I'm personally expecting more upside but i also except the possibility of it doing lower. will wait for a consolidation above the current...
Recently Ucad has been quite stubborn. Therefore I look to oil to help make sense of it. what I'm looking at is a potential wave 4 forming on both the primary and intermediate degree. I' ( looking at further upside in oil prices up to around 67.15$ per barrel (next support level).
There have been many talks about a recession, every youtube/facebook guru and their mom was talking about it, and although the market crashed late last year it was quite uneventful to the average individual. And we got quite a bull run afterward however, I believe the actual recession hasn't hit yet. on the 22nd of March, the 10-year U.S bond yield curve became...