If we break this wedge we could go for a huge ABCD move that would take us to the 1.618. So long as we continue to hold onto this support level like we've been doing for the past few months we should expect to see this eventually break upwards.
The market soared quickly in last month, and will it move further?
The strong resistance is not far.
The 0.618RET of previous decline from 0.748 to 0.681 is at about 0.723 level.
The 1.618REXT of previous decline from 0.705 to 0.681 is at about 0.720 level.
Meanwhile a good Supply Zone works at 0.720-0.723 levels.
Additionally, the RSI will be overbought if the...
In the weekly chart, the market has soared quickly in the past few weeks, will it go on?
Maybe it is not because a strong resistance is near.
The 0.618RET of previous decline from Aug 2015 to Feb 2017 is at 1.545 level and the 1.618REXT of the drop from Dec 2016 to Feb 2017 is at 1.539 level.
Meanwhile the Supply Zone also works at 1.540-1.560...
Hey guys,
i want to share another analysis of mine on the Gold. As usual, it starts on higher timeframe. On the left hand side you can see the daily chart where i began analyzing this, and you can see price is approaching a structure level that acted as support two times in the recent times lining up with 618 retracement of the bigger impulse leg.
In addition...
Hey guys,
i want to share one of my today's favorite setups, which is on CADJPY. The chart explains everything but basically i've found several clues that all point in the same direction, namely long.
It's important you know i don't even start building a case for entry without structure; here we have higher timeframe structure and trading timeframe structure at...
The bearish AB=CD pattern has completed at 0.726 level and the 1.618EXT of AB is at 0.727 level.
Meanwhile the important resistance is also at this level.
So it is good to sell short at 0.726-0.728 levels when the price action gives signals in the PRZ.
SL:above 0.730
TP1:0.724
TP2:0.720 and further more
The 0.618RET of previous drop is at 1.049 level and the 1.618EXT of previous rally is also at this level.
Meanwhile the Supply Zone is at 1.048 level.
So it is good to sell short at 1.048-1.049 levels when the price action gives signals in the PRZ.
SL:above 1.049
TP1:1.043
TP2:1.040 and further more
The bearish AB=CD pattern has completed at 0.749 level and the 1.618EXT of BC is at the same level.
Meanwhile the previous structure also works at this zone.
So it is good to sell short at 0.747-0.749 levels when price action gives signals in the PRZ.
SL:above 0.750
TP1:0.744
TP2:0.741 and further more
The 0.618RET of previous decline is at 3.04 and the 1.618EXT of previous rise is at 3.07 level.
Meanwhile the prevous structure also works at this zone.
So it is good to sell short at 3.04-3.10 levels when price action gives the bearish signals in the PRZ.
SL:above 3.15
TP1:2.80
TP2:2.68 and further more
The DXY dropped for a long time and it rallies to the potential reversal zone which may have strong resistance.
The 0.618RET of previous decline is at 101.8 and the 1.618 of previous rise locates at the same zone.
Meanwhile the previous structure also works at this zone.
So it is good to sell at 101-104 levels when price action gives the bearish signal in the...
It is a good opportunity to short BTCUSD and reasons are as follows:
1.the 0.618RET of previous decline is at 718 level;
2.the 1.618EXT of previous rise is at 715 level;
3.the potential AB=CD is completing at 716 level;
4.the previous structure also works at this zone.
So short positions could be opened at 712-718 levels when price action is good at the...
The bearish AB=CD pattern is completing at 1.035 level and 1.618EXT of the AB is at 1.040 level.
Meanwhile the most important is that the previous structure is also at this zone.
So it is good to sell short at 1.035-1.040 levels when bearish candles appear.
SL:above 1.040
TP1:1.015
TP2:0.997 and further more
The market has soared in last three weeks and the price has entered a very important zone.
The 0.618 retracement of previous decline is at 2.56 level and 1.618EXT of previous rise is also at the same level.
Meanwhile a previous structure also works at this zone.
So it is good to sell short at 2.56-2.63 levels when bearish candles appear.
SL:above...
The bearish AB=CD pattern is completing at 1.107 level and 1.618EXT of the AB is also at this level.
The 0.5 retracement of previous decline locats 1.107 level and 0.618 retracement is at 1.116,so this level will have very strong resistance.
Meanwhile the most important is that the previous structure is also at this zone.
So it is good to sell short at 1.107...
The bullish AB=CD pattern has completed at 49.2 level and 1.618EXT of the AB is at 49.1 level.
Meanwhile the previous low point is also at this zone.
So it is good to buy long at 49.1-49.2 levels when bullish candles appear.
SL:below 49.0
TP1:50.3
TP2:50.9 and further more
The potential bearish Cypher pattern is completing at 51.4 and 1.618EXT of the AB is also at this level.
Meanwhile the previous high points and structure are at this zone.
So it is good to sell short at 51.4-51.6 levels when bearish candles appear.
SL:above 51.9
TP1:50.9
TP2:50.3 and further more
