5 times USDJPY has connected on the intersections of a descending Fib Speed Resistance graph. Can we go for one more? Also notice the nice correlation to the target and the upward channel support line.
Notice how the fan and the fib time (vert) align nicely. Looking for a short here.
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
Considering the current rally on the GBPJPY, and the double top formation. Could this be a potential 2618 trade setup. If we break 187.83 and close below this could signal a trigger of the 2618 trade on a rally of the GBPJPY with us looking to take a short on the 0.618 fib retrace if it does occur. Targets would be close to near term structure. Good Trading Guys
Oil has been trounced, major decline since Jun 2014. Almost 40% has been wiped out because of OPEC being little kids and not controlling supply. Possible reasons are to combat the EV and solar industries. Anyway, ETF is close to the retracement point, I have an alert for 46.8 and will go long when a few factors like OPEC readjusting their stance on oil price as...
Update: Stopped out Entry: 1177.4 SL: 1167.44 TP: 1238.8 Key points I see: - Uptrending channel - Strong confluence of 61.8 and 38.2 fib levels acting as support - Bounce off the 20MA as shown with the 3 std dev bollinger bands with 20 MA
Market retraced to 50% level from recent downswing and formed a pin bar. For me, this pin bar is not convincing enough given its higher close compare to the previous candle. Still waiting for a confirmation signal to go short around this level. Possibly another pin bar from this current candle (closing in about 10 minutes)? Or a lower low, lower close...
Hi traders! USOil is getting close to a zone that I am watching very closely, I am looking at the 0.50% fib 73.71 and the lower line of the pitch-fork 71.43. Keep this 2 levels in mind and lets see if we can react. On the other hand, everyone is talking about 75.00. Personally, I dont like to trade into levels that everyone is talking about! Maybe I am wrong, but...
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...
Now a Triple Top has formed on the 78.6% resistance line and it's pretty visible from my 4H timeframe chart. Added to my position with the stops still at 0.86400 and targets at 0.84400 and 0.83500 and for the rest of the positions we would trail our stops and new lower highs form. Have a profitable week. Catch you guys later.
Chart: Manual System based on Elliott Waves and Fibonacci. Aqua line is Main Pivot. Status: Waiting for the first partial target :-). The "Eyes" show last checked status Comment: Normally i trade on Metatrader 4, i am trying to convert to TradingView so Signals are only illustrative till i have convertet the templates from Metatrader to TradingView.
Chart: Manual System based on Elliott Waves and Fibonacci. Aqua line is Main Pivot. The "Eye" shows last checked status. Status: We are still in the trade and waiting for (more pips :-)) third take profit or stop Loss. Comment: Normally i trade on Metatrader 4, i am trying to convert to TradingView so Signals are only illustrative till i have...
I've formed a new bias on eur/usd - in my opinion it's likely eur/usd is going to retrace after all it has been plummeting since 2014-05-08 and we are also a at a pretty big resistance level (to see that you can squeeze this chart or take a look at the weekly), we now how a possible double bottom with bullish divergence, massive one. So now may be the time...
Hello guys, After the recent break of crude oil out of a really lengthy consolidation phase (Triangle), as anticipated we're seeing lower lows ever since. This trending environment makes every Elliott Wave trader happier than any other time. In the previous 14 days we've been sitting in the retracement of the recent down-move. We're heading towards a sweet...
I'VE COMBINED A NUMBER OF STRATEGIES TO GENERATE THIS IDEA BUT ALL ARE PRETTY SIMPLE. THERE IS A PATTERN FORMATION TAKING PLACE. I'VE PLACED THE D POINT AT A STRONG LOOKING SUPPORT THAT I'VE ELLIPSE TO THE LEFT, (YOU WILL HAVE TO SCROLL LEFT). FIB RATIO CONFLUENCE IS WHAT IS USED TO GENERATE THE PRICE MOVEMENT, ALL THE PULLBACKS ARE SOLELY ON THE 50% BECAUSE OF...
My entry point was at 1.28053, expecting it to hold on 1.27720 level.