short opportunity presenting itself on gold after some stop hunting earlier in the week. a close below the double top which has formed will present a short opportunity down to 1112.00 with nice risk reward
On the 1 hour chart there's a bearish cypher recently completed and heading down for profit taking areas. There's also a nice bearish inside bar at the top of the pattern.
In addition on the 4 hour chart this is showing as a double top. Beyond this the stock is heading towards the potential head and shoulders pattern that can be seen on the day chart.
here we have a nice 2618 on a trend continuation setup, You can see we broke to the downside the last support level (black line) and now we are retesting it. We know that when broken, support could turn into resistance. In addition price is finding some troubles at this level.
We have a double top with rsi divergence that's been broken to the downside. So...
Just spotted a little double top on the AUDUSD 15 minute chart. It's topped a resistance line in the larger bearish move.
Wait for a .618 retrace on the current pull down, then set target for 1.272 fib extension of A-B for the win!
If you seen my last Aussie post you would have seen that market did in fact come up into my target area and produce multiple rejections for an entry and is now in decent profit.
However if you did not spot the opportunity then if the market can comeback up and retest the double top structure formed then a decent rejection of that level will also provide a decent...
another analysis today: i wrote all my clues of this trading opportunity on the chart above. So just look there.
I want to emphasize my last clue, structure. Without it i do not even consider the possibility of entering the market.
Stops 1atr above double top's highest high. First target at 1:1 RR, second along with structure.
If you have any...
earlier in the week we've highlighted a possible reversal zone in the daily chart of NZDUSD (see the attached analysis) and so today found a double top right at that previous daily level (black line).
The engulfing kicker (under the arrow) is the confirmation signal that we were waiting for entering the market.
Target1 at the retest of the lows and...
By looking EUR/GBP I feel that this pair is currently trying to make a top at current place right now. By looking the weekly chart, we can see that we had a 'equal size leg' up and also looks five waves up (Elliott Waves) and keep in mind that we have the 61.8% fib here so its a important resistance zone here.
By looking the Daily chart, looks like...