Gold has retraced to a significant support zone, in my opinion. This zone is formed by the structure and .618 fib. retracement of a bullish swing from 1124 low. Along this support zone, Gold has formed what appears to be a Harmonic pattern. Also looks like a bullish divergence on RSI supports my case for a trend reversal. Im enticed to buy gold here for a position...
Just read the chart and share your opinion !! Like for bullish and comment for Bearish.
I think that LTC will reach 400USD soon. What do you think?
There are two possible plays on LISK-BTC either the head and shoulders completes formation and we get a further drawdown (note that there's already negative momentum) OR we can see a bounce off the long term trendlines with a bounce off the parabolic trendline off the RSI. Comment on how you guys think it will play out!
There is a dual scenario, which is hard to tell at this time which way it will play out. Parabolic trendline on RSI shows positive momentum, however, the Head and Shoulders pattern may be in the making. In addition, major trendlines are about to be reached. - What do you guys think?
We just had a breakout from Pot's accumulation period so I'm looking to see a new market cycle form. We are currently sitting in the right shoulder on the Inverse Head&Shoulder Formation waiting for a breakout of the neckline. RSI showing momentum back on the buyers side
EURUSD The upside target for EUR has been hit at 1.1648-1.1665 after an intraday high in London at 1.1653 for a 140 pip win. Now it's time to reverse the position, as per comment.
On my previous post I stated that there could be a downside movement for this pair. However, there was a large amount of upside movement which looked like it was due to noise or news which has been released. As seen yesterday there was some news released for AUD which may have sparked the current increase in buyers. I feel that the noise period is over and a...
now that a new good zone of support is created, we can wait for a retest of that support zone to go with a perfect entry and see how he go on the resistance. If he fail to break the resistance, we still make a couple of $$, but if it break it ... Tell me what you guys think of that one.
Hello traders, We completed a bearish Bat pattern on this pair @ 105.89 Price currently lies at around 106.17s This provides a great opportunity to go short on this pair. This pair has been in a down trend. We have completed at an area of support turned resistance and have also put in some bearish divergence. Target 1@ 103.21 Target 2 @ 101.54 SL @ 107.93 ...
Let's wait for what the Census Bureau will give us :) 1. Actual > Forecast - most of us will think it's good for Dollar :) let's see 2. Friday will add some confusion 3. Having a bear at a lunch time on wall street? well not sure, however friday new's are normally so "short term"! 4. As a traders do care, let's see :) TA view is the same!
Hello Traders, Price came very close but if we can actually reach 1.4094 then we have a Bat pattern which completes at the 88.6% fibonacci retracement level. This pattern completes in an zone of support. Furthermore, this pattern serves as a continuation of the recent uptrend. Target 1: 1.4354 Target 2: 1.4510 Note that that we have CPI (inflation) figures...
PROS - Low test candle formation. - Rejection of both horizontal support and a downward sloping trendline. - Price sat between 0.5 & 0.618 Fib retracement. - Bullish MACD Divergence - Oversold on Stoch RSI CONS - Trading against the trend. - Trading towards key EMA's. Thoughts on this position?
PROS - Rejection of 0.618 retracement level - Stoch RSI oversold on monthly, weekly, daily. - Rejection of horizontal resistance - Rejection of upward sloping trendline - Reversal candle pattern CONS - Trading against the trend - Trading toward key EMA's TARGET 0.68562 - 0.618 retracement from previous swing low to latest high. This retracement ties in with daily 50EMA
Pro's - good reversal pattern. - price sat at good support. - recent break of downward trendline, now retesting. - 0.5 Fib retracement level from previous swing low to high Con's - Trending against the trend - Trading through EMA's including 50EMA on daily. Thoughts? Please comment below
PROS - Rejection of key resistance - Rejection of downward sloping trend line - Rejection of 50 ema - Stoch RSI signalling overbought Thoughts?
PROS - Retest of strong support on monthly - Stoch RSI showing overbought on both monthly and daily - Slight bearish MACD divergence on daily chart - Head and shoulders pattern forming on both weekly and daily Waiting to break neckline at roughly 0.77500 before entering short. THOUGHTS? THUMBS UP IF YOU AGREE