against all odds I can observe a bearish trend in NAS100 in coming days,
to strengthen this idea the pattern AB=CD and diversion are showing some bearish activity going to start,
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A Neutral Setup:
A series of LL and LH are in making so wait for some confirmation. It can swing both ways. Third time testing this support area could continue its bearish trend or breaking the trend line turn into bullish.
A longtime support zone being tested since Jan 21. And at fib level of 0,618% there is some bullish candle indication, which allow us to think about bullish harmonic pattern. So possibly a good setup for long trade.
Although this pair is moving in a descending parallel channel but since feb 21 it is testing this support area first time so possibly a pullback come into play as some confirmation also there from bullish candle formation.
This could be slide down a little more towards the 1.6100 1.6300 level and then it can be reverse, because if we clone AB then CD is exactly at this support level so strong indication of little slide and then reverse sharply.
A possible bullish Gartley pattern cab reverse GBPUSD trend into bullish. Just wait for confirmation of a bullish candle formation, on the flip side if can not sustain and break previous low then abcd pattern come into play.
A potential short setup can trigger due to following reasons
1. A long time Trendline
2. Recent move's fib level 1.618% is completed.
3. A resistant area.
So a short can be done once there is a confirmation in 4hours timeframe.
GBPUSD is likely to form two bullish patterns
1. Bullish Flag Pattern
2. Inverse Head & Shoulder Pattern
So possibly it can break the flag on upside
and then after completion of H&S the extended target will be 1.44
The Pair is trying to tested a support zone near 0.73100.
A possible bounce back expected towards previous high
if break then continue towards trendline.
To support this area a fib level 38% is there,
if failed then retest next support area around 0.72700-0.72800.
Possible Long Setup:
Gold Can test 156.00 area and rebound.
Possibilites for bullishness is testing a strong trendline.
Almost completing the Gartley Patteren.
**Risky Level High
Intial Target 1790.00
Trade Call: LONG (BUY)
1. Breakout seen at 4 hours Time frame and Tested
2. Candlestick pattern are also favoring with bullish hammer
and Three white solider.
3. A Bullish Engulfing Candle formation at 1D Time frame
1. It is going thorough
a long term downtrend so it can be a daring trade
Entry @ Current to...
A LONG TRADE SETUP FORMATION IS BEING OBSERVED IN GOLD DUE TO GARTLEY PATTREN. AS IT CAN BE SEEN TAKING SUPPORT FROM 61.8% FIB LEVEL AND SOME SUPPLY ZONE SO CAN GO LONG WITH ENTRY AT 1807.9 WITH STOPLOSS OF 1799.0