One projection that can send the price to test the super and all time trendline;
By default, the projection of a bearish symmetrical triangle is equal to the previous and most recent move above that triangle, starting at the last "point" of the corrective structure or consolidation structure...
Now, we have an ABC inside the triangle already forged, ...
The previous range that held price so tightly for nearly a month has been humiliated by both a break lower (which was rejected) and quickly followed by a break higher, making a mockery of the previous buy and sell zones. Price is too high to jump in now, so traders will be looking to find some sort of balance point to go long
We can see EURUSD has made a sharp fall to the downside, the first take profit level has been breached at 1.09456.
Now that price has fallen and closed below the first take profit level we will be now looking for our second take profit level: 1.05737. In addition, we will wait for a retest of the new resistance level and then look to sell it off.
Cycle is looking complete so a BUY order at around 19.97600 break should secure your long position on the up trend nice and early... Lots of pips to be had on this impulsive 5 wave up move... 3 orders will be placed to maximize profits...
I am watching this USD/CHf very close which I believe its very close to break this wedge that he is in since end of last year. A brake and CLOSE above 9830 will confirm that this pair is start a new 'breakout cycle' which will look very similar to the price action which we have seen on USDJPY in the last two days.
Triangle pattern in Brent. Will be looking to trade a breakout by entering on a retest of support or resistance (role reversal), depending upon the direction of the move. Not much else to say here really - just a visual aid by which to look at price action in the coming few weeks.
USDJPY has been in a bearish channel since the start of 2016. Now finding itself with a tightening of the channel due to a strong level of support from the 100.000 price level. If the bearish momentum continues there could be a breakout under the 100.000 price level. If 100.000 continues to act as strong support, there could be a potential bullish breakout. ...
Shark printed at 241% extension, now fighting back at 224% also the 50% pullback.
For those who are not inside this one, wait for structure breakout correction before jump in.
AB=CD will be printed above the 38%, and there, one opportunity to close half position size and to move stops to break ...