Price has reachead another key level of fib retracemnet 0.886 . As you can see on chart we had a move up every time after testing previous major fib levels. Wait for breakout of green trendline to buy at least to blue line with high probability of breakout and possibly full target at red line .
We have a triangle pattern in development on daily timeframe. There are two possible scenarios - bearish and bullish. My favour one is to upside as continuation of existing trend. I will be posting regular updates as pattern develops.
Concept is based on completion of bearish bat on daily time frame. Therefore I expect a retracement at least to around 0.382 fib. level
We have classic bearish 5 waves pattern with an ending diagonal trangle in wave 5. An ending diagonal is a special type of pattern that occurs at times when the preceding move has gone too far too fast. In all cases, they are found at the termination points of larger patterns, indicating exhaustion of the larger movement.
We have a very sharp post election move with continuation. Looking a current structure we can see signs of exhaustion and therefore I expect a least small retracement as per chart.
Bearish butterfly has been completed on daily time frame We have a sharp post election moves with current signs of exhaustion on lower time frames and therefore I expect a retracement to about 0.5 fib. level.
We have a triangle pattern in development on daily timeframe. There are two possible scenarios, bullish or bearish. have a look for details of setups on chart.
Again similar concept as my previous with gold based on parabolic arc pattern which only occurs in extreme bull markets. Target for this pattern is usually 0.618 fib retracement from whole up move.
I think whole corrective structure is about to end soon and as indication we have a potential wolfe wave pattern on daily timeframe with magnificent RR ratio. Can try to short from grey box area with SL above it or wait for confirmation when price breaks magneta line to downside and SL over point 5 . First target is at brown line and second once reached green...
We had a breakout of triangle to downside and currently we can see post triangle thrust in form of flag. It is good idea to short now with target and SL as per chart. Alternatively you can wait for confirmation / breaking the flag with SL above last high of flag.
Buy 16.800 - 17.400 SL 16.650 TP1 18.900 TP2 22.000
BUY AREA 1240.00- 1252.80 SL 1233.00 TP1 1319.00 TP2 1444.00
We have completed bearish bat pattern on daily timeframe and it would be a good idea to sell from yellow zone box with target 28.50 and SL above box.
We have a wolfe wave pattern in development. it would be a good idea to try to sell with magnificent RR ratio. Good luck
We have a rising wedge pattern on hourly timeframe, It would be a good idea to sell with SL above recent highs and target at magneta line. Good luck