Eurgbp gapped up this morning and is now hovering around the top of a descending channel that also lines up with the 50% fib of last move after a few rejections. if we stay below the 50 on a 4 hour candle close that will present a short opportunity down to test the longterm 50% Fibonacci from the brexit rally at 0.84160
Price action is suggesting we have had the 4th wave termination at 123.6 fib extension levels and that wave 5 is about to unfold.. Going long here gives us an excellant risk to reward. I am suggesting you use higher level of causion however as fundamentally the USD is strong.
GBP/AUD - Close to entering short on this pair. Waiting for a clear break below the 61.8% fib level as it appears to be an area of strong support. Let me know your thoughts.
Hello Traders, If price pulls down to @1.0998 we have a Gartley Pattern . This presents an opportunity to go long on this pair. Target 1 @ 1.1085 Target 2 @ 1.1145 SL @ 1.0910 If price pulls up to @1.1360 we have a Bat pattern . This presents an opportunity to go short on this pair . Target 1 @ 1.1191 Target 2 @ 1.1085 SL 1.1493 Feel free to follow,...
I am short in NAS100. Pure technical Analysis. Open 4500 SL 4600 TP 4150
Evaluating the strength of the EUR against GBP, comparing this to GBP/USD, August seems to be a key month where we see the beginning of a trend occur following economic events such as a recession, eurozone crisis, eu referendum etc.. Following events yesterday, the GBP has significantly declined in value and i believe below are a few reasons that has resulted in...
HOPEFULLY THIS HELPS YOU GUYS! REMEMBER TO HIT THAT LIKE BUTTON! GIVE US A FOLLOW AND ASK ANY QUESTIONS IF NEEDED! THANKS TOM
Potential downside set up with poor US news being the catalyst for a correction from wave A - B (50% fib 11912 area) for a resumption of the down trend towards wave C (monthly resistance at 11720).
1. Trend continuation 2. MA Above price 3. Test of trendline resistance 4. Support support turns resistance 5. 38.20% Fib Level expected to hold at that resistance point SL Just above 6. Looking for the market to make a LH From the previous LL 7. H_S Pattern formed showing we have the momentum to the downside to create new (LOWS)
I am Now Buying This One After Confirmation of the bullish Candle. Take Profit is at 161.8% extension. Stop loss is below this low candle wick another candle close if next candle closes below this low wick of this candle then i am out. on the other hand if a shake happens with a wick i will wait for market to close below this low wick to be out of this trade....
IF XAUUSD rises THEN we'll have a bearish Cypher pattern completing up at 1215. We also have a harmonic move (ab=cd pattern) with some fibonacci confluence around the same level) Akil Stokes Chief Currency Analyst www.TradeEmpowered.com Akil@TradeEmpowered.com
The Russell 2000 Index has reached important Fibonacci projection levels. We are expectiong a down wave (4) towards the 1060 area. Only a new weekly close above 1268 would invalidate this bearish scenario.
Okay so on the chart I have noticed that the channel was finally broken the other day - only for the breakout to be rejected with a huge comedown back into the channel. By applying a Fibonacci retracement to this new high we can identify future S/R levels. Now we're currently at the 0.5 Fib level (1.966) and there was a slight breakout from the channel but this...