Recorded from my laptop in a lunch break - so turn your speakers right up.
I'm stalking the DJI carefully for any sign action. This is a market built on hope and false confidence. It can't go on forever.
Disclaimer: This is speculative opinion - not advice. If you trade this market and lose your money, kindly sue yourself.
GBPJPY Could be dropping back to daily support levels. Just as shown on the charts, GBPJPY has failed to make fresh heights for the second time, leaving us with a beautiful AB=CD pattern with bearish momentum after being rejected from the 50% Fib retracement. We could take this as an opportunity to sell.
To add to the major ABCD pattern noted in my previous posts, I've added support and resistant zones. I won't be concerned so long as the price stays within these support and resistance zones.
I've also added a minor resistance zone, the price can be influenced by so many different factors that minor breaks in support and resistance is nothing new. Which is also...
Natural gas has reached 4 year lows for the second time this year. Dovish reports on the NatGas has it's prices obliterated by heavy pessimism compared to previous years. Even though the sentiment is bearish, the technical analysis indicates that there'll be a strong pull back anytime soon.
As you can see we are currently topped-out below a major resistance level, I've labelled some areas in which I wouldn't be surprised if there were to be a reversal.
D is where I'd expect the price to go, following my AB=CD pattern. So I wouldn't expect a breakout to the top, but it still has time to occur and still hit the D point.
it's important to note that...
Personally, I believe Bitcoin is following the ABCD pattern shown below. At the second bull run, the price peaked perfectly at the 61.8% fib level and almost immediately bounced off,
Both this and the fact that the price has followed the C-->D line has led me to believe that the price is following a hybrid ABCD pattern and the D point will bounce off the 71.8%...
Pattern has started to form an AB=CD.
The C point is at a strong area of structural support.
There is divergence on the smaller time frame.
There is a break out of the trend line from 1hr chart.
Two take profits have been identified.
Remember, we can trade C to D and then D as a sell....
From.my analysis we can see price has found itself back at the 61.8 level
By scaling through the time frames you can see a trendline break out on the 1 hour and it has retested some support. By placing an entry midway between the last bar and a stop loss at main resistance you can get a good risk reward of 1:12. On the smaller time frame I have an X spot...
I've spotted late this alternate ABCD pattern. Alternates are any pattern where AB=CD. There are the standard ABCD patterns that are well known.
I'm exploring and learning from alternates to see what degree of corrections to expect. This set up is therefore observational only.
The pair has made a nice 61.8 pattern with price now at a previous level of strong structural resistance.
Price is in the process of making a reversal pin bar signifying a change of trend.
Couple this with other confluences if so required for a potentially profitable trade. Entry point could be a break out on a minor time frame.
to the left of the chart based on the 4 hours is a clear wedge / triangle pattern. Price has retested this in the form a 61.8 retracement.
The overall weekly trend is bearish so this helps as price will go bearish.
It is now at the 61.8 level so a nice pure pattern.
A trend line break out on the smaller time frame using a reversal candlestick plus divergence...
From this chart price has retraced to the 78.6 level of the previous higher swing. There is a level of structural support evident.
Price is currently testing the existing trend line.
I will wait for further confirmation such as RSI divergence and a clear minor trend line break out before entering.
*on holiday in cape verde so analysis is more basic!
This is a completed AB=CD pattern
Apologies for slightly off positions as I am using smartphone.
The price should break below the red trend line or if there is a good reversal candle stick this will be the start of a bearish move downwards.
Price is sitting between the 50 and 38.2 level. Price rejected earlier from the 50. Inside this there is a small ABCD...