Opportunity to get short with structure + fibo based entry.
We're running into previous support which could act as resistance. Adding to the case we're hitting 0.618 fib. Adding to our defense we also have falling trendline.
Targetting historical support level.
Lets see how we do.
A potential 2618 setup is closing in on 15min XAUUSD. Price is currently meeting resistance at a previous strong support level looking back on higher time frame. Perhaps this could add to the case with the price consolidating around this area, and just maybe push price back down enough for us to profit. Im not looking for extended targets, only retest of the...
Advanced pattern - Bat completing in a clear structure zone where price action have struggled, supported and resisted several times before. We also have a bullish trend line to add to our support, aswell as a previously broken bearish trendline.
Order is pending, lets see if we get filled.
My reasons for entry:
Completion of bearish Gartley (D)
D also coincide with broken trendline which should act as resistance
We have a lot of previous support which should aswell act as resistance.
Placing my target safely above previous proven support areas looking back.
I could ask for more as for taking profit, but I rather take small safe pieces at a time...
This is why I never listen to the crowd. Everywhere I looked during the past days theres been loud talk(screams) about shorting eurusd. A few short-term on lower time frames I can agree on, but overall I stuck to my plan which I executed 2 weeks ago.
My reasons for entry where:
Gartley formed previously with D completion above my entry, with X not yet...
Broken bullish trendline, should as act resistance.
61.8 fibo retrace
Structure, previous support, should act as resistance
Bearish trendline, should act as resistance
What more would I want? I'd prefer RSI to show even more overbought, but still, enough to hold my case.
Taking profit above previous structure support.
NFP tomorrow, but since this trade...
Double top followed by break to the downside. Selling the retrace with falling trendline as resistance together with previous structure-zone. Looking to take profit above 61.8 retrace of the leg.
Stop loss above highest of the tops.
Since is NFP tomorrow I will definitely be on the lookout.
Entering at 115.580 on following basis;
Advanced pattern - Bat - D completion.
In conjunction with the completion of the Bat we have bearish falling trendlines (long term + short term). We have structure and on top of this we have RSI showing overbought.
Target is 38.2 fibo of A-D leg. Stop loss at a level where Im considering myself to be wrong. - Above...
We have lots of fun stuff going on here. Price is heading into previous structure and resistance zone which have proven itself several times in the past. We have a bearish gartley just about to reach its D completion - which in turns comes very close to the previous, broken, bullish trendline which also should act as resistance.
Looking at the hourly...
I'm looking to grab a piece from this opportunity.
Reason for entry: Cypher completion D
Price failed to close below bullish trendline despite several attempts.
Double bottom in area of cypher D closed the deal for me.
Entered long at 1.29800
Target based on 38.2 fib of C-D leg (adjusted for the entire move)
Break of bullish trendline acting as resistance together with previous support levels also becoming resistance.
+Fibo 61.8 who rejected the price going further up.
I would like the RSI to be higher, but the above makes a case strong enough for an entry.
Target - structure together with previous falling trendlines which could act as support.
I will watch this...
Bullish gartley completed at D leg, buy order pending for a retest of bullish trendline (bottom of the bullish pennant)
With the gartley completion we have;
Bullish trendline (support)
Marked my stop loss and target levels.
Happy gold digging
A bearish cypher heading towards D completion.
SL above D and aiming for 2 targets. First at 38.2 of fibo C-D and second based on structure and bullish trendline.
Once we reach the green-marked zone below I will go bullish on this one with target 1.00500
Selling at 1.1350s with a completion of a bearish BAT. SL safely above several previous structure points looking back.
Target at 38.2 fibo of C-D leg.
Around 1.1120 i plan on getting LONG where we have bullish trendline together with previous support and a series of higher lows.
Final target 1.16000
Cypher completion at D. Selling at 1.30418.
Structure on multiple points should act as resistance (see circles)
Target zone at 38.2% fibonacci C->D Leg and above previous support.
I've been eyeballing 0.87600-0.88200 for a while. Why? Its a major resistance level from year 2013 and we're going strong towards it. Since its an important level it also acts as a magnet, and thats why I want in on the ride.
Sure, we could see a bigger retrace before we finally hit this level, but I dont want to risk missing it.
Why am I entering now? We...