Coming through the KUMO as a reversal setup, price will be expected to range between 1100 and 1300 until the autumn months of 2015. IF the lagging span clears the cloud in bearish territory there is potential for 1029 and further 722. However at a crucial 61.8%FIB retracement level there could be long positions made here. Overall, the chart shouts short positions...
AUDUSD HAS BEEN FORMING A MONTH-LONG WEDGE, AS WELL AS A DOWNWARD PITCHFORK. AUDUSD IS ABOUT TO INTERACT WITH THE BOTTOM SUPPORT OF THE WEDGE, BOTTOM SUPPORT OF THE PITCHFORK, AS WELL AS HITTING A FIB LINE. IF BOUNCES, LONG, IF BREAKS ALL THREE SUPPORTS, MAJOR WEAKNESS SIGN. CREDIT TO: ICETRADING FOR THE ORIGINAL PITCHFORK CONCEPT.
I'M ALREADY IN A SHORT POSITION BUT IF PRICE RETRACES UP TO MY SELL ZONE I WILL LOOK AT PRICE ACTION TO ADD IN ANOTHER POSITION AND TARGET 0.75000. I STRONGLY BELIEVE WE CAN GET TO THERE IN THE SHORT TERM BECAUSE THE LABOUR MARKET IN THE U.S KEEPS COMING OUT GOOD WHICH WILL HAVE INVESTORS/TRADERS SPECULATING A RATE HIKE AS EARLY AS JULY. ON TOP OF THAT AUD...
Fellow Traders, I see signs of Gold breaking out of the downsloping red channel. My first take profit target will be just before the Daily P-Pivot at 1252. I have set my stop loss below the weekly low at 1187.2. We have the 38.2 Fib Level acting as a key support at 1198.22, and S1 Pivot also acting as key support at 1197.01. Riskier traders looking to commit a...
The news about 888 buyout (and later the news about the proposal failure) made the stock spike above the weekly 61.8 Fib level, which was also a major structure resistance zone. Currently 888 still finds support on a small weekly structure zone (140-150), but judging by the daily price action, we could see the price breaking this support zone in the near future....
1200-1210 was the buy zone I mentioned in my Weekly Markets Analysis newsletter. Gold is testing this zone. The 61.8 Fib level is just below the 1200$ and it should be the bottom of the retracement if gold intends to rally. A close above 1220$ could be confirmation signal for a bullish move (a close above the trend lines shown)
Put the fib at the real breakout level (cause that's where the rally started then) and you get an OTE at 252. that makes good sense in combination with the price action we are seing now ... long wicks down to the ote (typical ote buying) !
correction into ote level (around 210) expected. another rally afterwards likely
@TradeYodha TradeYodha.com (Just my ideas, do you own analysis) Possible NZDJPY Trend Following Short Opportunity 1. Underlying Trend is Short. It has reached a particular level where it may try to retest previous highs (there is a counter trend opportunity as well) 2. 78.6 fib at the previous high 3. 10 SMA and 50 SMA are lagging behind and around the same area...
Price currently on 61% in confluence with the 3rd trendline test on the weekly/daily Bullish Engulfing on the 4HR Inverse head and shoulder with ABCD in play Targeting 3 length breakouts measured by the head to neckline of the crown patern Target 1 fib D extension, -1.27% .... Target 2 -1.618% Target 3 supply zone / 3rd range break to the upside
Hi guys, USD/CAD is the pair that is on my watching list for this week and is very interesting. The level that I am watching is 1.1917 which can a trend line from 07/2013. Also lets keep in mind that the H&S has already hit target and looks like we are in 5 waves up in this pair. Time for correction or reversal? I don't know, but thing is for sure, if he gets...
The Dollar Index (DXY) is close to a zone of resistance around 92.88 which is also 0.236% fib. Is in this area that I am waiting for a long time to reach and we might see a short to medium term correction or even reverse if the greenback shows some worrying signs.
None of the indicators show absolutely that we are in correction just yet (monthly and weekly view). On the daily in previous post I've noted where we've been and why we'll bounce up again. This chart shows the Fib Extension has not yet hit 1.618. Pair that will indicators not clearly showing correction and you can see how a weak climb recovery currently in...
Annotations on the chart. This is an update of my last chart "Anticipatory layout with important trend lines, levels, time fibs"
We might be cought in sideways within the red channel for another 20 days. I look at the Willy or MAGNUS™ indicator and compare it to a similar situation we had a couple months ago. The yellow box had some rangebound action in it with a little breakdown in the middle ( just like we had it now ). The question is what will happen after the yellow box? The red box...
Pin bar formed at 50% retracement in H4. Entered long at market. This is after I was stopped out from the earlier pin bar (three candles before this current pin bar). Target is actually open at this moment. Let's see if I can get second time lucky. Fingers crossed. :D
USD/CAD reacted very well to the formation 'Head and Shoulders'. 1.1571 is 200% fib measurement of the low of the right shoulder and the high of the high shoulder. Also to keep in mind we have a 0.618% fib very close (fib of the 2011 low and 2009 high). On the other hand, to give us even more support of this zone, we have a very clear trend line (blue line) which...
It is clear that we have been in a BEARISH downtrending channel since mid July. Has there been a change in behaviour given the recent spike up? Let's take a look. For this study, focus on the RED downsloping line as well as the HIGHLIGHTED YELLOW downsloping line - which is the upper parallel of a downtrending pitchfork (credit goes to Paul Coghlan) from...