Oil daily chart has completed a bearish bat harmonic pattern, indicating that the next wave down should push to previous support level of 66.89. Circled on the Stochastics is an overbought level that appears to be coming back down.
AU formed the B leg of a flat at exactly 123.6% of the A-Wave, indicating that this is a Strong B wave flat. We have further confirmation based on the bearish engulfing on the RSI. If the C wave retraces 100% of wave B, we should expect to see AU at .714x
AU is in a corrective wave 2 period at the moment and just retraced the previous impulse down by 38.2%.
If the corrective period doesn't become an impulse Wave down to form a wave 3, I expect price to form a flat, as demonstrated through the arrows on the chart.
The predicted move is an A=C Pattern, where wave B retraces 61.8% to 100%+ of wave A, and Wave C is the...
GU has formed a terminal 5 wave pattern.
Showing that wave 1 and 4 have run into the same price section, we find that this pattern is structurally weak.
Lets watch GU this coming week as I expect a lot of volatility moving into the market.
EDIT: adjust the chart so that the 45* angle fits at the bottom of the square. This serves as a central oscillation line,...
Looks like AJ Completed a wave 2 pullback at the .618 retracement of Wave 1. The RSI Is clearing showing bullish engulfing, while last week's four hour close was very bullish behind strong buy volume. This could be the start of our wave 1 within a wave 3, in which case many speculators look to buy in a 'three of three' sequence. If AJ shows signs of a wave 1...
Everything looks sound on this 1hr setup. Waves ABC follow all of the rules for a gartley formation, with a wave D confirmation. Expect a bounce at the 1.272 fib extension, with targets defined at the black lines (.382 & .618 retracement). Good luck traders!
Looking for EN to complete wave C up lower than wave A for a .786 fibo retracement of XA. If the pattern plays out correctly we will look for a long entry 1.7160, with TP1 a .382 & and TP2 at .618 fibo retracement. If TP1 is completed we move our stoploss from breakeven to the .382 level. Keep playing with the houses money traders, Good luck!
It looks like the Euro is follow the gartley harmonics, and we may see a retracement of the 1.20 area for the completion of our bearish Gartley pattern. If the continuation down is confirmed, we should see a retest of 1.15 followed by a move lower
As AU approaches the resistance level at .74386, we may find the opportunity to short it down to previous support just above the .735 level. As RSI rises, we may find it in overbought territory in our target area.