Bullish Scenario - Aggressive C
EURUSD holds above support:
1) The Fast MA line
2) 1.17-1.175 structure
As long as these support zones holds - Bullish scenario:
EURUSD will rally to 1.2 to complete a bearish harmonic pattern
Bearish scenario (AB=CD pattern)
As long as the 50 MA line holds as resistance.... potential downside that will lead EURUSD towards...
Three bullish signals were provided last week by $XOM price action:
1. Stock was strong despite bearish market sentiment.
2. The price re-tested broken channel and confirmed breakout by bouncing from channel's top.
3. The price closed above the 200 SMA line
If indeed the markets will turn positive, as $SPY chart suggests, $XOM may be headed for 20$ run towards...
81-82 is a weekly buy zone for $CADJPY that already generated impressive 500 pips rally the last time I traded it.
After it was rejected by the 200 days MA line, $CADJPY is back near the support zone but now it is above the broken downtrend line (red dashed line).
Those who seek bearish opportunities may look at the potential Head and Shoulder pattern (blue...
Potential short term bearish trade - Aggressive C sell entry for a bullish AB=CD pattern.
Price must remain below the 61.8 Fib level and the hourly 50 SMA line.
First target - 2065
Final target - 2058
The bearish setup is inside a broader daily bearish setup I mentioned in my Weekly Markets Analysis newsletters - Read more about $SPX and other trading ideas ...
$CADJPY's weekly chart shows us that last week this pair failed to break below a major weekly structure zone (81-83). This structure zone (now support) managed to keep $CADJPY above it for almost 2 years between 2009 and 2011 (see blue arrows).
If this support zone will hold, we have potential aggressive C entry in what could turn out to be a weekly bearish...
Bull Gartley on DAX 1HR with an Aggressive C sell due to a deep B-C leg. Nice D completion around previous structure but there is a large risk zone from entry to X. I would like to see the D leg push a bit deeper into the PRZ (If it gets there at all!) as this will reduce risk and a potential re-test of the X close.
