Potential sell opportunity this week, has completed a 5 wave corrective pattern with divergence, will be looking for the next 1hr impulse down with the 270 as target profit. This would give us a complete 3 wave pattern in the 1hr.
Currently in a pitchfork formation on the 1D timeline. Just bounced off the centreline with some pace off the back of North Korea news. On the 4H chart we can see that the 1.618 Fib extnesion falls in line with that 2016 high which will be my target, just inside of the upper trend line of the pitchfork. Other indicators on the 4H chart shows the 5EMA has just...
D1 shows head and shoulders pattern that is being aided by daily structure and long term trend lines. H4 Fib shows B-C retracement has bounced just below the 50% line which was corresponding with the daily structure. Looking for the move down inside the green trend line towards the Red long term trend line and/or the 1.618 Fib extension
Looking for a bullish push above 1.72550 pivot line, which is forming a strong area of support with the 38% 1D Fib and 61.8% Fib on the 1H timeframe. Oversold on the 1H StochRSI, looking for a retest of the 7330 region of the previous highs, and move up towards 1.74150 for the 1.618 extension.
Using Fibonacci extension of 1.61 from the pull back after the last high. You can see that Fibonacci works well for bitcoin as I have the retracement on there to predict an accurate reversal point. The Elliot Wave theory also seems to show that there is more to come from the current impulse wave.
Rejected by .618 line and still shows signs on resuming bearish trend on higher time frames so re-entry at 139.361 level with stop loss just above .618 line @ 139.701 level with tp at roughly 138.425 with potential to carry on dropping to 1.27 extension of 137.523
AUD/USD did not play out how we predicted last week! Trump's press conference gave USD a chance to correct and give this pair a push higher to break support and this descending trendline. AUD/USD is currently sitting at key weekly support which price reacted off nicely recently. We will be looking for a pullback to the 50 fib/next support at 0.7350 to form a right...
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
Prior to the 11th of December this pair was trading in an upwards trend with key resistance around the 0.78000 level. After the break of this market structure, there has been a number of minor re-tracements, and price is currently trading around the 61.8% re-tracement inside a daily supply & demand zone and coincides perfectly with the 0.74600 support/turned...
61.8% fibonacci level coinciding with a daily supply and demand zone. Previously stuck in a downwards channel and is seeking liquidity for any further moves higher. I would expect to see more re-tests of this downward trendline before any significant market structure changes.