Yahoo has produced two high probability patterns that would fit well in a bearish channel. The cypher (purple) formed right after the rejection candle at $32.17 at the 1.27 extension measured from the X to A leg. Price also put in a double top at $39.64. A Gartley pattern (red) shortly appeared right after. The kill zone for the bearish Gartley pattern is at...
Bat pattern completes @ previous double bottom from where price rallied 300+ pips. Current price level will be interesting to watch for bulls. 1.4655 price handle is key as break of this will accelerate the depreciation in value for this instrument. Current price is exactly at PRZ zone lying between 0.886% ret. (1.4700) & 1.618% ext. (1.4680). Sustained break...
As always, I love price breakouts and using Fib levels to understand where the market should head to next. If we can see USDJPY break above this downward trendline, (which will then become support) and if we can see a little price action remaining above it, we should look at this continuation of the ABCD pattern. However, we have to be aware of this new downward...
Price has now traded the first target of ABCD pattern that was completed Apr 4 and is standing close to the horizontal neckline of the H & S pattern at 1,5025-30. The mini target of the whole ABCD stands at 1,5120 level. Technically, A retest of the neckline will either confirm or reject the H & S pattern. Selling into this S/R zone, stops needs to be placed...
Price has completed a full ABCD pattern from Sep 2012 and also a minor ABCD with 161 extended D-point. Since the price has been attempting to reach targets. First target was the full swing CD move of minor ABCD. The technical target hasn't been reached yet (1,0790). One scenario is more bullish. Since price completed the large ABCD prematurely w a fast latter CD...
Inverted Head and Shoulders is forming. Look for a safe long trade entry after the H&S confirms by breaking + retesting the red neckline. Potential for less safe trades in the meantime are indicated. Like my Charts? Feel free to donate : ) BTC: 1F1jpj7X3oyKHpGJ98chr39NvpzSXuPrnC LTC: LbsfK54KWQnyELCRTg2e9vfy1R5X7Nkuwa