Major diagonal with 1-3 year consolidation on the verge of potential breakout.
I'm expecting EURCAD to make another push down on higher time frames, but I am anticipating a flat or diagonal structure here, so I am selling but just looking to break that low that I marked.
I suppose one more upside movement to 3100 where is the rising upper line. I expect to see it as a resistance zone. If there will be a clear reversal pattern and break down the diagonal, then I will wait for a short juncture.
🐮 The DOW (DJI, DIA, YM1!, UDOW, etc) is rallying based on recent strength shown by key players like Disney, the banks, Boeing, Exxon, etc. Looking at Dow Jones Mini Futures (YM1!) we can see a new clear bull trend forming... but we also see a clear-as-day support level to be tested to help confirm this rally. Perhaps the shift out of the NASDAQ's COVID hedge...
CPRI Capri Holdings of for a good start! After an insane dump of 95% over 6 years time, CPRI Capri Holdings might be your best buy of 2020-2021. Clear 33333 leading diagonal into the 1, you would want to catch that retracement at the 2!
When you look closely at the weekly, this should be a 5 wave "C". Looking at what it has done so far, it counts and measures perfectly for a diagonal exactly like that. Look at my weekly analysis closely so u can trade it with confidence.
I have been experimenting with diagonal support/resistance analysis, and I find that I get a lot of confirmation in back testing and prediction, so I want to share my thoughts to see what others think of it. Also learning that confluence points of diagonal support and resistance lines tend to act as support/resistance. The pink lines are, according to this...
Chart on the left suggests we are in wave iv of C (ending diagonal)...one more dip lower to retest today's low to finish off the bearish sequence then we may see a strong rally. The chart on the right is a more traditional impulse and is one wave slower...so two more dips lower to finish off C then a strong rally. Trend lines support a hold below the April 7...
First - Bullish - with a leading diagonal followed by a current correction Second - Bearish, with an alternative WXY instead of an impulsive move
The question is about the completion of a diagonal and the overall structure of the move, depending where the diagonal ends. At M30 there is a clear pattern indicating the soon weakness of the pair
Watch out for a potential break out to the upside
Hi traders, I assume a leading diagonal and a three wave setback (wave C is an ending diagonal). Smaller flat indicates price is likely start pushing down, I wish - in an impulsive way :) Good luck!
Abc with an ending diagonal in wave c. Short to mid-term (?) sell
Could Barrick Gold make a multi year Leading Diagonal? Could we see $37 in Sept 2021 hitting the 161.8% extension of wave 1? Then to retrace 38.2% by March 2024 to $24 before finishing the leading diagonal at $55 in March 2026 Could the leading diagonal end at the previous ATH back in 2011? Such a long term estimate is difficult but I would like to come back to...
Disclaimer - This analysis alone DOES NOT warrant a buy or sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach. The sharing of this idea is neither necessarily indicative of nor a guarantee of future performance or success.
If gold is tracing out a leading diagonal, then there is downside risk to 1340 to touch the top of wave 1 as that is one of the main features of this pattern.
The price action on the TVC:SPX since the May 1 high has been rather frustrating and overlapping. For one, the index is only up 3.9% since then. IMHO this means the TVC:SPX is working on a larger ending diagonal Primary V wave. Ending diagonals move in 3s (3-3-3-3-3) most of the time and this means (red) intermediate wave-c of black major wave- 3 is now...