finally after the 15th of april high was hit now retraced to the 61.8 fib could touch down to the 71.00 fib but looking to a new high to TP1 -27.00 fib extension this is a risky trade as we do look in a strong down trade but eurojpy usually respects the fibonacci
32,8 Fib Retracement
Confluence of 141,8 and FIB extension and 161,8 Fib Inversion
Be aware we have a Inverted Head and Shoulder Pattern so we can expect only a pull back to 32,8 Fib of the last movement (Orange Zone)
Counter Trend and Trend opportunity on OIL
- OIL approaching resistance the 61,8 FiB and Upper Trend Line
- RSI is over bought and we have a big RSI divergence
A pull back is expect back to 60.00 level (Confluence of 38,2 Fib and 61,8 Fib retracements)
Looking for a breakout from the triangle to the upside. Entry would be at 1.34700 once we have taken out the 7th of March high. Ideally we will see a bullish crossover on stochastic to confirm momentum is on our side.
Target 1 = 1.618 Fibonacci level
Target 2 = Projection from triangle measurement
Here is a fairly high Reward:Risk trade set up for next week.
GBPUSD is approaching the outer bullish trendline for a 3rd touch and this also coincides with the Fibonacci 0.618 retracement zone. This is a very simple trend continuation set up with a target price of 1.35 achieving a high reward ratio.
However! - It takes 3 touches of a trendline to confirm it. So...
GOLD is approaching support ( andwe have a harmonic Cypher pattern already completed on the Daily Chart)
I will wait for some kind of reversion and a reason to enter at 38,2 fib retracement and 161,8 Fib Extension on the 4 Hours Chart
Overall, price is currently sitting at the top bound of a channel. However, zoomed into hourly, price has created an ascending flag/channel which will break towards the downside.
Target is based on confluence of Fibonacci Cluster (retracement and extension) + aligned with previous structure
Fundamentally, I believe the U.K. will crash out hard from the EU causing GBP/USD to fall to parity. Coupled with weak GDP and rising levels of inflation, the economy is headed towards a recession in the coming year. Analysis was done based off a Fibonacci Retracement level from monthly swings to the downside. A further extension level was plotted, and with...
We have a corrective pattern forming this looks to be a contracting flat however cannot confirm this as of yet so will watch closely for confirmation, with this is mind will be looking for the third wave down to complete a 3 wave pattern using the 1hr 270 fib as a target profit at a price of 126.819..
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.
OMG/BTC has been declining for the most part of this year but has found strong support at it's previous all time low of around 0.000450.
One of the more promising ERC20 tokens, OMG development has been soldiering on in the background with a steady stream of commits on their GitHub repos. Price action has not been encouraging for a while since the bears starting...
$ETH has put in a great set-up.
We are currently sitting around $207
Price has pulled into an area of structural support, through a harmonic AB=CD move.
At this area of structure, we get the 127.2 Fibonacci confluence.
For me, a key indicator to go long here, is a the addition of a double bottom coupled with bullish divergence on RSI (7).
This suggests that...