takenkarathat

takenkarathat

Do you see what I see?

takenkarathat

Is UC continuing its bullish bat formation? Friday, it rejected the 61.8% resistance. Thursday, it didn't even make it to 61.8% resistance. Wednesday, it went slightly above (with high impact news) and STILL dropped back down to make a lower low. Tuesday, an even greater lower low. Monday, 50% retracement was touched and the trend went down for the week. Based on...

takenkarathat

UC doesn't know which way it wants to go.

takenkarathat

The chart explains what lines need to be broken, but this is a clear visual of a 38.2% retracement within a down trending market. Next move should be a SELL.

takenkarathat

This caught my eye so I thought I might share!

takenkarathat

I drew my support and resistance levels in green. The Fibonacci levels are in blue. Notice that there is some support BEWTWEEN 23.6% and 0%. (Look left for clues) Previous candles to the left broke that 1.30849 SUPPORT. However, in recent days, it could not make a lower low to 0%. You typically want to look at 50%-61.8% for extension action. BUT the 4 hour chart...

takenkarathat

4 Hour Chart! The yellow zone highlighted is a follow up from this morning with fibs added. It looks like the retrace has happened and our Stoch is oversold. We have that resistance line at 1.32460 and support at 1.32022. If 38.2% is broken, there is a VERY good chance we'll continue up. If the pair breaks 1.32022, it will most likely continue down. What do I...

takenkarathat

So what are we looking at here? Since UC broke resistance yesterday, it's a GIVEN the pair will rise long term. BUT watch for shorts in retracement form! The 1.32416 could easily be our next resistance if the price decides to drop below 1.32416.

takenkarathat

As you can see, we have a nice trend going down short term! The trend ends nicely on our 50% fib line, which is where I ALWAYS look for entries. This should continue down to the 38.2% fib line as the retracement.

takenkarathat

Each yellow ellipse represents 3 or more wicks touching support or resistance. A couple of lines ARE on fib lines, which is excellent! When you are looking for setups, make sure you look at the NEXT candle...DO NOT ENTER A BUY OR SELL IF YOU SEE 1 CANDLE OF REVERSAL. WAIT FOR THE NEXT CANDLE TO FORM FOR CONFIRMATION!

takenkarathat

As you can see, UC is in an UPWARD trend! If it breaks the purple line @1.30806, we should look for a SELL setup. Once Monday morning rolls around, I will post a shorter time period analysis.

takenkarathat

Watch out for those support and resistance lines! That's where you check the lower timeframes for a more accurate candle setup.

takenkarathat

UC will be rising :)

takenkarathat

We have some MAJOR support going on here. With oil crashing, UC will go up! I see it reaching 1.35000.

takenkarathat

I have gone through last week's chart in 4 hour candlesticks to show the lines of support and resistance. The market seems to have blessed UC with some form of normalcy with its support and resistance. RESISTANCE: 1.35635 MORE RESISTANCE: 1.35393 SUPPORT AND RESISTANCE: 1.34764 & 1.34642 (Could go either way so check for reversal pattern!) SUPPORT: 1.34036

takenkarathat

What are the numbers for? I try to find 3-4 common lines before I make a support or resistance line. 1.35463 CLEARLY has FOUR lines of RESISTANCE. -What happened with the doji on #2? The pair decided to go up, which was most likely the result of a news correction. After the pair came back down, it FAILED to exceed 1.35643. The pair continued into a...

takenkarathat

The trend lines seen from the other day show lower lows, which is a CLUE as to what you may see next. While "C" did not reach another lower low, "D" broke market structure sending this pair into correction mode. This created an oversold market setting up the SELL. With an "M" forming to complete the "E" portion of the pattern, The next point of contact on the...

takenkarathat

Based on the wedge we have here, I see UC rising to the 50% and most likely 61.8% Fibonacci lines. As always, the pairs retrace back down. It's a catch 22 here. It could continue rising after hitting 61.8% or it could retrace back down and keep going toward 38.2%. Either way, we will be going upwards close to 1.35000 and as fibs show, 1.35714 is our 50% line. The...