PA marked the 1.93 handle and has been rejected sharply back to 1.92. ABCD completion @1.933. Still very bullish but 1.92 even handle provides good resistance so far. Possible retrace to 1.868 or even lower 1.862. The 61.8 - 61.8 PRZ is in the 1.841 - 1.8366 range
The current price action shows corrective movement, lack of interest in the downside and thus a bullish sentiment. FibTime has already shown a confluence of ratios in the big bearish candle, indicating a reversal to the upside. I'm going long after the break and close above the trendline only if no new low is made.
Kind of Gartley Pattern forming up on the Weekly with a completion around 170.00 - 210.00 BTC/USD. This Level also shows some broken Resistance Level from April 2013 which was never clearly tested on the Weekly Chart. And as you can see by the two black lines, this also would set up and ABCD Pattern. My Opinion is that we're currently in a midterm short trend...
Hello everyone, Another perfect ABCD formation has completed and I'm putting my order as soon as the market opens. The latest top, with a huge wick on, before the market closed sat on the 1.618 extension of the A leg which also was exactly on the 61.8 retracement of the down move from late October. As you can see from RSI, there is a big divergence between the...
Hi, As you can see from my chart a pretty rare ABCD move has formed on EURAUD today. Why do I call it Rare? Because it's the classic textbook definition of ABCD move. Wave B has bounced off 61.8% retracement of Wave A and Wave C has moved exactly 1.618 Extension of Wave A. I've set my own SL and TP for this trade. You set your profit target according to your...
On chart I find nice trade entry on SHS formation. We see at head of formation are very long this is becuse we hit support zone and in higher time frame is looking like we have abcd patter alsow (bearish formation) entry as always we take on neck line for more agressive traders and for more conservative i would order to take position below neck line from 5 to 10...
As the $SPY approaches the top of the daily resistance zone that I mentioned in the Weekly Markets Analysis, a 15 min pattern completed and the price is about to test the X point. Can it be the reversal trigger?
In between rooting for the Royals to win game 7 of the World Series, I've been trying to catch up on my evening analysis. As we know it's been an active day in the markets, with the FED announcing a halt to it's bond-buying efforts and some pretty explosive moves in the market this afternoon. What I'm looking at on the USDJPY is a potential 3 Drives pattern that...
In this week's Weekly Markets Analysis newsletter I'm showing two possible harmonic trading scenarios in $EURUSD towards the FOMC meeting. Which one of the two will you trade when the Fed will have their announcement? Read the full setup and more analysis on $XAUUSD and $USDCAD marketzone.tumblr.com Subscribe to the Weekly Markets Analysis for free www.themarketzone.net
In this week's WMA, I posted two trading scenarios to monitor in $EURUSD. Aggressive C buy scenario AB=CD bearish harmonic scenario. Both scenarios closed today with profits. Those who traded them both. took about 400 pips this week. Good Job
EURGBP approaches structure res. @798 for bearish bat completion. Another bearish bat awaiting @803 highs which overlaps with equal leg ABCD completion
Bearish BAT pattern is setting up in a well established downtrend. At BAT completion, many fibs levels are lining up defining a nice kill zone.
The bullish ABCD equal leg has been completed @1194, the bull gartley @1211.68 and we have PA very near the -2/8 extreme overshoot @1187.50.
Price have already been rejected on Friday but there is still some momentum to the upside in place. RSI is going overbought. Action: wait for a double top or some bearish candle formation to short
USD/CAD completed a Bearish Gartley pattern recently around the AB=CD level of 1.1175. The USD/CAD had a recent high at 1.1222, but has since traded lower. Markets have been very volatile lately, so expect some erratic moves. Initial profit target is at the 38.2% Fibonacci Retracement level of the run up from A to D on the Gartley Pattern. Stop is above point...
....Back to the Analysis… now that we’ve put in a lower low, lower close and the RSI is buried, I think 1 of 2 things will occur. Either we’ll continue straight down to the Fibonacci cluster which comes in at structure, or we’ll see some relief that will result in a retest into previous structure support which should now act as resistance. Now I would shy away...
It took 10 days to reach the predicted level but it's finally where I said it would go. Price failed to close below and will most probably go sideways between previous support level (now resistance) and current support around 1.2628. Don't rush into trading this pair yet, observe and once it closes above or below one of these levels you can decide.