A break below channel support may trigger the fall
From the first chart, if target 1 and 2 is reached.. It will potentially complete a C Leg for two potential patterns to form. If so, then I would look for evidence for a reversal back up and confirm if price completes the D Leg to complete the pattern. If the two patterns complete, then i will look to enter short.
High Probability Setup: 2 x Advanced Patterns Ratio Confluence Harmonic Pattern (Symmetry) Price testing at or around Major structure (Support Resistance) Entry to Short at or around 5058 and 5096 Initial Targets around 4962 and second targets around 4884 Stops at 5147 Potential entry down at target 2 for a rally up
FX:AUS200 Despite the major bullish trend with another harmonic ending around the 6500$(Long-Long Term), there's a bearish Gartley Pattern that can work as another "bullish impulse" at the real end... GARTLEY Point B: 61.8% can not touch 78.6% XA Point C: 38.2% to 88.6% AB Point D: 78.6% XA 127% ext AB Target: TP1 38.2% AD TP2 61.8% AD Safe Trades;
FX:AUS200 CRAB Point B: 38.2% to 61.8% XA Point C: 38.2% to 88.6% AB Point D: (wait an oversold condition and eventual rsi divergence to buy it) 161% ext XA 224% to 316% ext AB Target: TP1 61.8% CD TP2 127% CD Safe trades; open.spotify.com
AUS200 is going in a complex correction and there is a good chance that it will go up significantly next week. We inter this swing trade today with 3.58 risk/reward ratio and we close our longs once leg C = leg A Happy trading :)
This is an update to my previous EURAUD chart, I was waiting for a long entry and it just presented itself to me. We have an hourly impulse forming, looks like a 5 wave advance, which could be the first of a new bullish cycle. The daily chart shows a strong mode has been formed and price is about to move above it, after producing a series of strong moves up...
We have interesting evidence, suggesting AUDUSD might be ready for a reversal from this level. The selloff has been intense, but price only completed a 0.786 retracement of the advance, which matches the daily mode that originated said uptrend. The downtrend generated a 4 bar target that has reached and exceeded the projected level, and is flashing a buy signal...
I present you 6 stocks with the same pattern action. SPX500 AUS200 FRA40 GER30 UK100 FX:JPN225 Contrary to popular belief, I don't see any preference of expecting stocks to crash. I just see scared investors because prices touched the support levels, so everyone is panicking about it. This also happened last year on October, many people panicking that it...
- Descending triangle as reversal pattern of the long term bull trend - Closed week below 200MA - Forming a somewhat deformed H&S on 15M scale
If you see the "Aussie map", linked below, gives a more rounded picture of the local market at the time being. Stocks are currently in confluence area that gives the shorts better probabilities for a possible correction. Momentum divergence can been seen from miles away and a closing below the up trending arc line will have the sound of a bottle opened,...