This is looking good for a reversal before starting the final push towards 7000. We have (2) 1.27 fib extensions around the 6662 mark where the ABCD completes.
The FTSE is coming up to a break of the neck line on this H and S pattern. TP shown on the chart. I think we would need to hold below the 6800 for a day or 2 to confirm it. TP is around the only real resistance recently which coincides nicely with the top of head to neck measure.
EUR/USD has just hit a 1.27 extension for the butterfly completion. This also happens to occur at a major resistance level form the last few months. Normally with price action approaching the target with such speed it would indicate a rapid turnaround.
There's a Gartley forming on the 4hr time frame here with some previous structure at the level. Not a particularly pretty pattern but I will definitely be keeping an eye on this.
This pair have just hit the .786 completion of a cypher pattern. Along with it hitting the top of a longer trend line formed over the last couple of weeks I see this pair going short. First target is the .386 fib at .8878.
With this pair reaching the outside figure of .886 of the cypher it is looking like rolling over for the first target. This looks like an...
I'm mainly a technical trader and as such I have been keeping an eye on this developing BAT pattern over the last week or so. There is a potential reversal zone coming up at the 230.49 area. This also ties in well with the D point termination on the ABCD that started on the 29th. This has a projection slightly lower than the BAT but gives a good back up to the...
