This formation not been easy to foresee but now becoming a bit clearer with this smaller ABCDE Elliott Wave triangle having broken(broken yellow lines).
Targets as per chart but $8500 seems most likely short term!
This excellent video may reveal how we got there:-
- Lower time frames have performed bullish chart patterns
- RSI is in the oversold territory and starting to peak upwards
- RSI on the H1,H4 & D1 time frames is in the oversold area
- Price is currently at a support level so price needs to close below this zone for a break and retest and then entry.
- Pennant/Flag chart pattern formed indicating a possible...
1.8400 even handle providing a very high probability structure short showing signs via previous resistance, divergence, loss of momentum and a descending channel.
Targets at the start of the channel.
With the BXY looking for a retest following its recent breakout and the ZXY forming a double bottom. This could be a very possible setup from a technical point of view. Fundamental factors to consider are:
2. BOE interest rate decision
3. NZD Interest rate decision
Entry @ ~1.97000-1.98000
SL @ 1.20050
TP @ 1.89575
The 2.00000 level is a key...
This rounding has been going on for a long time and I have posted this chart many times. The selling has dried up and I suspect accumulation has been occurring here for a huge period of time now. Today’s candle is particularly interesting in that we have closed at the first major hurdle. If we clear this level at 292 then we should move to 330 quickly and then my...
Last time on the 9th of december 2017, BTC dominance was at 70% This was followed by a sharp decline.
The following 30 days caused a rally in ETH and the alt coins as money was flowwing from bitcoin, into the alt coins.
We have also completed a 5 wave drive pattern so i expect some corrections to follow, especially because this is a very strong resistance...
Past 4 trading days of the Nigerian Stock Exchange have been visited with ferocious bulls also with decent volume. Looking at the chart of the top 30 companies of the exchange, one cannot but think the bottom is likely around the corner. What I intend to see to call a "bottom" for the market is for price to re-test the low and possibly to be rejected before making...
After a retest at the support/resistance at around 1495 - If the price is successful in breaking through we should be seeing 1505.
We should enter after clear confirmation indicating upwards.
Looking to enter at 1497 if price behaves nicely.
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Looking at a basket of Sterling pairs on a variety of time-frames.
(You can add this to your own watchlists by copying this code: GBPAUD*GBPCAD*GBPCHF*GBPJPY*GBPNZD*GBPUSD*GBPEUR)
There appears to be some evidence of a bottom shaping on the 4-hour chart.
Expecting a bumpy ride with Sterling, but I believe the Risk/Reward is looking favourable in the short...
Based on recent price action and a clearer parabolic picture, I've revised my estimate upwards from $30,000 in two years to $50,000 in two years. Nothing in this post is a prediction.
Traders should be very very very careful with this instrument. High volatility is...
This is an example of a perfect day trade taken based on my day trading strategy.
- Multiple confluences and rules all confirmed
- Reward:Risk ratio is over 2:1
- Quick Profit
- Minimal Drawdown
You can find my day trading strategy on my blog or buy it from the amazon book store now. Links are below.