This pattern has been testing the PRZ (potential reversal zone) and I am now waiting for my signal to long. I do like the fact that the lower leg touched exactly the channel of the pitchfork. Even though DXY seems to keep on its way down, there are reasons enough to risk a position here. The stop may be placed on lower swing and profit goes at least to following...
We just tested a support that started with brexit and continued with last low, and ever since we have been doing monthly higher highs and higher lows as described by the Donchian channels. Additional to that, last two dailies made a double bottom and DXY today showed clear new trend. This idea is as simple as it can be and is the very same definition of an...
This gartley completed and is showing clear signs of reversal after going through the values on the potential reversal zone. We just hit the limit of the Ichi cloud which gives us confirmation on the new trend. This is on line with USOIL and XAUUSD new uptrends. Thanks for your comments and likes.
Today's data made a spike up that was quickly rejected and showed that the main trend in gold is still down. We also broke the 0,618 support from the fib fan and I believe we're headed towards 0,5 angle. The Gartley pattern shows a nice confluence of fibs at D: 0,786 XA 1,414 BC 1 AB from C (I like this one, seldom used) As some indicators show, we are getting...
This crab had its spike just on the potential reversal zone and is now showing good signs for placing a short. I added a couple of indicators to confirm, they should inspire you to follow me on this nice crab walk back down. I am quite new with harmonics but I'm loving it, see related ideas.
Now that we've tested the potential reversal zone and we have a signal from the indicators coming back from the overbought, it seems to be a good time for placing a short. I appreciate your comments.
This is the second chapter of a copper story around this pitchfork. You can see first chapter on the related ideas. I believe the end of the last downtrend is over and now that we've tested for several days that support, it seems fair to place a long position at this point with a reasonable risk/reward. The indicators shown confirm this idea and a couple of fibs...
Silver has been supported at this level for several days. Here we have the lead line of the Ichi cloud, and the completion of this harmonic pattern where we expect the potential reversal zone. I am now waiting for a signal in a lower time interval to enter my order. I appreciate your comments.
Last friday we saw another failed attempt from bulls to take over the market. The result was this daily shooting star candle, signaling the beginning of the downtrend. The 0,5 angle is now acting as resistance and next target is at least on the 0,382 angle below. My short signal is active on the weekly and daily, and even the monthly which I rarely look, is...
This is another play I have been placing around the dollar strength. Last week DXY seems to have bottomed and this pair is also showing signs of topping. The 1,618 fib extension from last retrace is quite close to the top, and not frar from pitchfork upper limit. The CCI already came back from the overbought and that signal was useful on last retrace. First...
I was thinking before that we entered a new phase of an upward trend, but it looks more like we're just making a small correction to keep the way down. Once the price hit 0,23 fib retrace of the channel, it bounced and is now keeping its way down to... a lower low (below 39). The money flow was below 50 in the bear range and now that we hit resistance it bounced...
After a trip along the side of the Bolli band, aussie seems now ready for a nice short. The shape of the last two candles and the fact that he's soon to go back to the sub-100 region of the commodity channel are factors enough to think about shorting it. A couple of fibs converge on the price labels shown. Like to hear your comments.
After this fast rally, oil is soon arriving at the crossing of the Ichi cloud. At this point you will also find the 2,618 extension of the first retracement of the rally (last idea stopped). I will wait for my signal and position once I have confirmation. The two indicators shown are both overbought and may be used to signal the entry. I also think some big...
After last NFP jump, the trend in this pair is continuing the way it was before. This spike opened a great entry opportunity for a short. My signal activated and the risk/reward is quite good. This is online with the rise in oil that started last week. Target for the long term unit is at the confluence of 1:1 projection and 1,27 fib extension.
After yesterday's bad news on Bitfinex, BTCUSD seems to have found a solid floor that lies around the 0,5 angle of this big fib speed resistance fan. Several indicators are coming back from their oversold condition, and this is a great place to go long and keep it at least for a few weeks before it hits significant resistance on 0,618 angle where you'd be already...
Copper's price action has been inside a downward pitchfork (see related idea) and price now reached the upper limit of the channel. Daily candle is making a correction that presents a nice opportunity for an entry. White arrows are cloned from the first top to local bottom, indicating bears are working steady. Use your signal to enter and wait for targets on the...
This Fib channel frames well price action and the 0,236 is now acting as resistance. It is highly possible that we revisit the 0,5 and even 0,618 retrace. Weekly and daily momentum both show downward pressure. I will keep my short for a few days, unless resistances are broken.
After travelling on the overbought region for some time, it seems XPDUSD is now ready to retrace. We just touched the 0,618 angle of the fib speed resistance and already heading south. First target on 0,5 angle around 620's coinciding with last peak, and secondary on the 0,382 on the 600's. Wait for your signal and enjoy the short. All precious metals are on this...