Key Trend Lines A couple interesting trend lines for you guys to watch out for. The white arrow is representing a 40% increase in 20 days. I do see a sharp move like this coming, once the current triangle is broken.
We potentially have a double top for GBPJPY on the 60 minute chart. If we close with the top of a candle or wick at 186.914 in the next hour or two we might see a reversal into the 185.83 area. SELL @ 186.37 BUY @ 186.91 (SL) BUY @ 185.83 (TP) Risk: 54 Pips Reward 54 Pips
Looking at previous hight (414 level) we have retraced more than 0.61 and there are good possibilities to reach even the 0,764 fib line. Meanwhile standing at MACD signal line it seems that selling pressure is losing strenght. So in my opinion we can have a look for a possible reversal with a double bottom pattern with an higher low. Good luck for your trading
The AUD/JPY daily chart displays consecutive lower highs and lower lows with a potential short setup to continue the visible falling trend (supported also by downward trendline). The current corrective phase seems to be running out of steam in initiation of a potential impulsive phase, with the production of a bearish reversal price bar: - ricocheting off a...
Fellow trading adventurers, This is a mix of a short term (upcoming 1-2 weeks) and medium term (2-3 months) forecast. Short Term, Upward (24-27 oct) - 4H MACD is gaining momentum - 4H Stoch RSI shows room for some upward momentum - Market playing around the 50% fibonacci, which often causes a small bounce (5-10%) but usually not strong enough for bottoming - My...
Everything is on the chart! Keep it simple :)
Two weeks ago I predicted the reversal following bad news from Russia (check the related idea). In this chart I have implemented the green bull flag. We are very close to the end of the flag, which is a strong signal for next high. I am short in the short term: Target: 300 USD
I wanted to republish the old chart, but i had to change the view to weekly to show this easier On my previous charts on SP500, i had a blue support line - you can see on this chart where it came from. Today stocks opened at -2% (never happened in last 1.5 years i think), went down to hit almost -3% and then rushed up to close between -1%-0%(pity i did not swing...
Updated version of my BTC volume chart. 5 waves defines impulse. We are putting in abc now. I expect it be very shallow. To find out if this completed wave 1 of 1 of cycle degree 5 up check out my website bitcoinprotrader.com and sign up. I will be back to updating it shortly. Donations accepted!!!!
My honest opinion is that one of the major mistakes globaly is that traders counter trend immidiately once price hits PRZ. Even with DT or DB you need some sort of comformation, at least break of DT/DB and wait for price to retrace back to the V bottom of DT structure or A top of DB. I found out that the best way to get comformation that trade has really changed...
We already got major trend change for NZD/JPY but we are only waiting for good entry!! We may not reach previous structure for entry but we will have to entry earlier after breakdown of retracment up to EMA 36. Using heikin ashi candles helps us that so after breakdown of retracment i will short it defnitely. Resons for trend change are already written on the...
Eur/usd is finaly at the bottom of the triangle on the major major support line : - EMA 200 - Major support trendline - Psyhcological price 1.25000 (which was only touched and reversed immidiately) I explained everything other on chart. Please comment if you have any ideas :) Best regards
Risk management: previous low of the day $1,1190 is key if bulls want to continue, then we have low of the day $1,182.67. Below this I am out of my tactical reversal play from major support. First target is 8 EMA $1,208 that is tracking this trend since breakdown of wedge, then we have $1,225 as next target.
Why AUDUSD is Likely to Trade Lower We observed from Feb 2009 to May 2012, AUDUSD has been trading along an uptrend line. This line was broken on May 2012, indicating that the bullish trend was over and we see that price has transition into a sideways consolidation between 0.9500s and 1.0830s for a while. This sideways phase was over when price broke below...
Price has been trading along the solid blue uptrend line, from Sep 2012 to July 2014. However this trend line was clearly broken after the 22 July 2014 Earnings Release. We also note a Head & Shoulder trend reversal pattern, with the neckline convincingly broken past the horizontal neckline of $45.80. This signals that the bullish trend mentioned in point 1 is...
In this chart we can see my interpretation of the wave count, and volume action we've witnessed during the past few days. If the structure holds, I expect to see a low of 390-414, before resuming the action to the up side. My position has been bearish for some time now, but as we approach the lowest lows, price action develops a loss of momentum, which indicates...
I am long KNDI here after filling it's breakaway gap form mid-july. After a heavy two week sell-off, the stock is finally showing some strength after filling that gap. After trading down to a low of 14.79 today, KNDI rallied more than a full point to form a textbook bullish hammer reversal candle. I am long at 15.75 with a PT of 17.47 - Approximately at the...
The EUR/GBP pair shows perfect BAT pattern. The B point retraced to pretty much exact 0.382 and this pair bounced at 0.885 XA level that is within a PRZ of this pattern. Now, this pair gaped up at the open of this week making cable gapped down heavily. This EUR/GBP is clear and this sign further stimulate the reversal. If this pattern do the job, 50% AD level...