mamed1

mamed1

The pair should see another small bullish leg before entering in another bearish wave, the pair already finished wave A of the lager cycle and is currently moving in wave 4 of c which indicate that the current rally is about to finish, most probably the bearish wave might start around 148 price level.

mamed1

First look at the Gartley pattern after reaching it's target 78.8 fibo ,second the RSI couldn't penetrate the 60 level which reflect that we're still bearish.another confirmation is the weakness of the buyers when they approached the down trend line ,waves analysis we're still waiting for another down swing ,we still need to see a stronger reaction from the...

mamed1 Updated 

The first sign is the lower top ,then 2 strong bearish candlesticks (the strongest since the uptrend began) followed by a lower high to form a busted symmetrical triangle (blown every logical stop order ) to close above the trend line again,MACD is screaming negative divergence ,all are signs of weakness ,but we still need a clear close under the uptrend to open...

mamed1

Now we can see a clear break for the wedge ,confirmed by a strong bearish marubozu,followed by three falling methods pattern(not the exact pattern but the exact psychology) ,MACD negative divergence ,RSI first sign of weakness is the failure to reach the 70 level,followed by an almost extreme swing hitting new levels 38 and 39. All signs confirm that the bears...

mamed1

The pair maybe forming a butterfly pattern with ideal ratios,targeting 88.900 (127 from XA and 178 from BC) also ,the daily MACD is giving a positive divergence ,we'll wait to see a clear penetration of point B to confirm the scenario .

mamed1 Updated 

Analysis: In our previous analysis for the pair we've mentioned that the only way to confirm the break of the downtrend channel was to break the channel by the first wave of the potential uptrend,yet, if you looked at the price action and the sharp retest you'll notice how weak the bulls are indicating that the market didn't makeup it's mind yet and maybe it's an...

mamed1 Updated 

The pair is forming a harmonic pattern on the 1 hour chart ,we're not sure about the pattern yet ,it could be Gartley ,crab or a bat but we'll deal with it as a gartley because point XA 78.6 is clustered with BC 161 ,and because it's the safest position.the pair is testing point B support now and the price action is respecting it ,a good entry point targeting...

mamed1 Updated 

The pair maybe about to finish it's second wave which started from the first of march and going for it's third wave,yet we didn't see any confirmation from the price action so we'll wait to see a break for the lesser trend ,we also need to see a strong buyer to confirm the scenario (penetrating the trend line by the first wave of the lesser degree could do the job...

mamed1

After reaching the maximum target for the previous butterfly pattern (1.618 from XA),Stoch RSI value is 100,RSI value 81.77,price action indicates several take profit transactions ,all indications reflects an upcoming correction (whether a time correction or a price correction) ,we'll wait to see the correction pattern first before opening any new positions.

mamed1

After reaching the maximum target for the previous butterfly pattern (1.618 from XA),Stoch RSI value is 100,RSI value 81.77,price action indicates several take profit transactions ,all indications reflects an upcoming correction ,we'll wait to see the correction pattern first before opening any new positions.

mamed1 Updated 

Clear butterfly pattern with almost perfect ratios,targets are confirmed from (XA)127 Fibo extension and (BC) 224 Fibo extension at 3300 as a first target,the price action is strong so we can be heading to 161% from (XA) ,buying long targeting 3300 ,after that we'll see the potential of longer targets.

mamed1 Updated 

After breaking the rising wedge ,confirmed by the falling methods ,RSI extreme swing on the 4 hours chart finding new bottom at 35 .all indications confirm that the bears took control .selling short after breaking 1.1710 level targeting 1.6700

mamed1

The pair is moving in an uptrend on the daily frame ,already completed wave 1,2,3 and moving in wave 4 ,we're waiting to see the exact pattern in wave 4 to spot a good entry point,we still need to see a stronger price action and signs from oscillators of the 8h ,12h and finally the daily frame to confirm that wave 4 is finished or about to,the penetration of the...

mamed1 Updated 

Still going long after breaking 320 with the same target . The scenario will be cancelled if the price break 300.

mamed1

The currency is moving in a side trend forming a potential butterfly,or it can be forming a triangle it's 4th wave of the 3rd larger wave of the fifth primary wave.both scenarios have the same target 338 .the problem is that the price reached the 4th wave of the prior 3rd wave .the safest trade is to wait until a penetration of 322 targeting 338 stop loss should be 315.

mamed1 Updated 

After a sharp move the pair reached it's 50 % fibo from the prior wedge ,clustered with a strong support level 1.2950 The prior wedge's third wave was the shortest ,yet the price bounced from the exact ending diagonal target The bulls reaction still weak , we can expect a time correction rather than price correction . In both ways ,selling short after breaking...

mamed1 Updated 

The stock was moving in it's 5th wave on the daily chart,i doubt that the 5th wave of the 5th wave is already truncated,and the 5th wave of the larger degree is also truncated , because of the shooting star followed by the long bearish candlestick,and the negative divergence on the daily MACD(which i have no idea how to insert it on this chart)if this scenario is...

mamed1 Updated 

It's one of the charts when you say ,should i connect the fibo from the tails or from the body ,the right question should be is there signs of weakness?only the break for 1.6000 (which is very close ) will prove that.otherwise i'm long targeting 1.6150