Cypher Pattern already completed, but i'm waiting for a better confirmation as a price touching the the Major Support at 38,2 fib Support or waiting that break the Wedge to the upper side.
Bullish Cypher Pattern already completed
Falling Wedge pattern on formation
38,2 Fib Major Support
Confluence of Fib Inversion and Fib Extension
Monthly - we can see this mass deceleration to the downside, which in last month we finally closed as a doji - perhaps this month or next will be the beginning of the bull run???
S&P is approaching a very very very responsive and critical resistance zone, worries about a market crash linger more and more each week, and we actually close as a doji weekly candle...
FORMED A WEDGE AND WE ARE CURRENTLY IN A BEARISH MOMENTUM
I WOULD LIKE TO COME TO COME TO THE PREVIOUS SUPPORT ZONE WHICH WILL NOW BE THE BUY ZONE
ONCE WE REACH THIS ZONE I DO EXPECT THE BEARISH TREND TO COME TO AN END AND START SHOWING SIGN OF DOJI/HAMMER CANDLESTICKS READY FOR A BULL RUN
IF WE DO NOT TOUCH THE BUY ZONE I WONT BE LOOKING TO TAKE THIS TRADE
Currently completing a retest, but I believe there's Momentum to push towards the upside in the 1.618 region on the fib, my first TP will be at the 0.618 point, there may be a possible retest at the 0.618, but could possibly execute to the Golden rule.
We have been stuck in this range since the start of this year. We have found support off of this level once again and we are slowly seeing a climb in price. Our stops will be around the 0.67000 so 30-35 pip stop dependent on entry. Standard TP1= +30 Pips TP2= +50 Pips And our final target area will be the 0.69000 area around +150 pips