scottfraancis

scottfraancis

Chart patterns formed: -Falling wedge -Double bottom I will be keeping an eye on this pair throughout the week for price to break out of the falling wedge and above the 200SMA before looking for possible long positions for the start of a new uptrend. This trade idea also gives me confirmation for my cup & handle idea I posted a couple of weeks ago. The...

scottfraancis

(4hr) (1hr) (15m) - On the higher time frames (4hr & 2hr) we see a clear descending channel with 2 touches to the upside and 3 to the downside - The 3rd touch of the upper trend line lines up nicely with our 61.8% Fibonacci level giving us our entry for a short position (if price breaks higher the trade is invalid). - On our lower time frame (1hr) we...

scottfraancis

break & retest of long term consolidation

scottfraancis

Price failed to bounce a third time in the 'descending channel', instead it broke higher making a new high and what looks like a higher low. also a retest of the upper channel. I will be looking to enter from the green zone which also lines up with the 61.8% Fibonacci level, with my initial target at the -61.8% level (closing partials on the way) -on this chart i...

scottfraancis

Price has been in an ascending channel since the start of April. as you can see price has recently broken the lower trend line of the channel giving me reason to potentially go short once price has retested the S&R zone i am expecting price to retest lines up nicely with the 61.8% Fibonacci level as well as the descending trend line that connects the high and the...

scottfraancis

Potential inverse head and shoulders reversal pattern forming left shoulder & head formed. the tip of the right shoulder lines up nicely with the 61.8 Fibonacci level -Aggressive entry from the green highlighted zone -Conservative entry from the break and retest of the neckline

scottfraancis

-Broken ascending trendline -Bounce From the 61.8% Fibonacci level (missed this entry)

scottfraancis

Price has been ranging for a while now with a few touches to the support & resistance areas will price fall for a 4th time or will price finally break above resistance towards the trendline? Waiting for a break and retest before entering

scottfraancis

Price has broken and retested the countertrend trendline, my bias was to stay long until the upper channel trendline and then see a potential fall to the downside, however I don't think this will happen. I have closed my first long position in profit but left my recent trade open in a minor loss incase my first idea continues to play out. I will be working on...

scottfraancis

In my previous analysis I have gold to drop from the upper trendline for the descending channel (also around the 61.8% Fibonacci level). However over the past few weeks/months I have noticed a cup and handle being formed, if price breaks and retests the channel I will be looking to take a long position (no target as of yet) although price may drop lower before...

scottfraancis

-Price has broken out of a descending trendline which had 4 previous touches. -The 61.8% Fibonacci retracement level lines up perfectly with my initial entry & a previous resistance zone that has had 4 touches making it a strong/valid area. -My TP1 was hit within the first day (100 pips secured) it would be nice to see price retrace and test this are before...

scottfraancis

-I am currently holding a risk free position from (28/3/19) sitting @ around 120-150 pips profit, this morning i re-entered again with a target of 77 pips to the upper trendline however price is currently below my entry and it think it will continue to range throughout tomorrow before its final push upwards. -Not 100% sure on the next move as of yet but will post...

scottfraancis

-Price has formed a descending channel with 2 touches to the lower trendline and 2 to the upper. will we see a further drop to the downside from the 61.8% Fibonacci level or will it break and start climbing again??? -My bias is still short due to the strong down trend recently, however if we do see a clear break & retest I may reconsider.

scottfraancis

- Broken ascending trendline on the hourly timeframe. -Looking for rejection from the green zone (61.8% Fibonacci level) & candlestick confirmation. - Highlighted previous support & resistance areas for possible future s&r.

scottfraancis

- Currently looking like its forming a descending channel. - Price has been in quite a strong downtrend for the past 2 weeks, will we see a further push lower from the 61.8% Fibonacci level or will price push higher before a drop???