The Head and Shoulders pattern I mentioned on my latest analysis for XLE has reached its final target level and now we have an option for an Aggressive Bullish C entry in a bearish Bat pattern (yellow). This setup basically means that you buy the C point in what could turn out to be a bearish Bat pattern, aiming towards the D point (near 80$) as longer term...
Pay attention to the daily Outside Bar that developed today on $GBPAUD. Potential continuation to re-test top of trading channel (red dashed lines). Stop loss should be below today's low. Tomer, The MarketZone Follow me on TradingView Subscribe to my newsletters - goo.gl Follow my blog - goo.gl Subscribe to my Youtube channel - goo.gl
Very interesting setup on $USDCAD towards Fed's decision later today. Second Crab pattern emerged and completed near 1.385. This actually an Elite Zone setup sent earlier to the members and is the position is up 40 pips now. Due to the expected volatility following the Fed's announcement, I think that $USDCAD will provide another chance to trade this strong...
Oil prices (see analysis below) drove $SPX down towards the 2000 support zone, pulling it down to meet Target 1 of the bearish Gartley mentioned here over the last couple of months The warning signal appeared on Thursday when $SPX tried to rally back up above the 200 and 50 SMA lines and failed (see red arrow). The result of this failure was felt on Friday's sell...
BAC Bearish Bat pattern is still valid as the price consolidates inside the PRZ, below two broken uptrend lines. As the markets await Yellen and the Fed, Financials are stuck and that clearly being reflected in BAC's chart. If the price will attempt to rally and test the X zone (18.5$) it will complete a small Butterfly pattern that will add chances that we...
EURUSD reached the final target zone of the bullish setup I had on it from 1.05. 1.1 was the key resistance zone I targeted as my profit taking zone and now the price is testing the 200 SMA resistance line. We have a small potential sell zone between 1.1 and 1.11 which will be in focus this week as the Dollar prepares for the Fed's decision. Another interesting...
$USDJPY finally reached the final target zone of the bearish Gartley I've posted here previously. Both targets have been reached and now USDJPY is testing a strong support zone - The top of a daily trading range (see yellow boxes). Although Friday created a bearish signal by failing to climb above the 200 SMA line, it also generated an Outside Bar candle that...
Copper, just like the rest of the metals (see analysis for gold below), completed a bullish pattern - Bullish AB=CD pattern. Unlike gold that rallied strongly following Friday's NFP numbers, Copper didn't make the breakout and still below its daily Fast SMA line. If Copper will break above 2.08, it could lead to a strong rally that can reach up to 2.2-2.25 -...
As it looks, $DIA is heading towards 180 and 182 to re-test previous record highs before the next FOMC meeting. Last week $DIA bounced from the 200 SMA line and the bottom of it's trading range (175-183). I expect $DIA to stay within its trading range borders for the next 9 days and if it'll rally towards 180 it will complete a bearish Butterfly pattern. The...
Despite Yesterday's rally in the stock markets, $BAC's Bat pattern wasn't violated as the price remained inside the PRZ, The fact that the price climbed above the Fast SMA line and created a minor uptrend line is a bullish signal but as long as the price remains below the broken major trend line and below X (18.5$) the bearish scenario is still valid. Assuming...
Gold price broke below 1080 last week and created a new low. The latest sell off started from the bearish pattern I mentioned here few weeks ago and was accelerated when Gold broke below its weekly uptrend line. The critical support now is 1040-1060$. As you can see, Gold will complete two weekly bullish patterns inside this zone – Bullish Crab and Bullish...
In the previous time I covered GER30 it was heading towards the completion of a bearish Bat pattern (see linked idea). We had two sell zones - 11,000 (structure and 200 SMA line) and 11,400 (Bat pattern completion. The anticipation that Draghi will fire his Bazooka pushed GER30 beyond the 200 SMA line and the strong resistance zone of 11,000 and it completed the...
Bearish Gartley - Price testing X level Bearish Crab - Completion near 101.5. That makes 1.5$ wide of potential sell zone Tomer, The MarketZone Follow me on TradingView Subscribe to my newsletters - goo.gl Follow my blog - goo.gl Subscribe to my Youtube channel - goo.gl
While one central bank (ECB) talks about more QE and the other talks about potential rate hike (Fed), the price reflects the fierce battle between confused investors. $SPX is testing the 2080 support zone. The 200 SMA line, the 50 and the Fast are still below price - Acting as potential support lines. No change since October 2015: 2100-2120 is still the...
My latest analyses on $AUDUSD mentioned the possibility that $AUDUSD will complete a bearish 3 Drives pattern near 0.74 (see bullish scenarios in the linked idea). Now, following RBA's rate decision, $AUDUSD is very close to the PRZ of this pattern. The bearish setup: Sell 0.74 with stop loss above 0.747 (above the 200 SMA line resistance) Target previous...
3 weeks ago, $WWE broke below its weekly uptrend line. Since it 2014, $WWE managed to recover its losses, mainly due to the launch of the WWE network that has picked up 1,000,000 subscribers by now all around the world. On August 2015, following two strong weekly candles, $WWE spiked and completed a 61.8 Fib retracement level and signaled that the bullish...
As oil price fluctuates between 40$ and 44$, possibly gaining momentum towards major bullish run (see analysis in linked idea), an interesting investment can be in Energy sector. $XLE had a nice rally following a daily double bottom pattern completion on September. The price rallied strongly into the 70$ zone but was rejected by the daily downtrend line that is...
Oil is testing the bottom of a weekly support zone. 40-44$ is the support zone I mentioned in my previous analyses (see linked idea) August's spike and the strong close above 40$, created a False Break that is being tested now. If the price will close below 40$ by the end of this month, it will create a bearish signal that may lead Crude towards the X zone - near...