Gold broke the ascending channel it was in not too long ago. At the current moment it looks like there is a flag forming so watch for a breakout to the downside. Good luck and safe trading.
Silver is currently holding its descending channel. At the current moment price is stuck in a corrective structure so we will watch for an impulse to the downside.
We have spotted a H/S Pattern developing on this pair. We are currently short. Entry Reasons: Break of the Flag pattern formation on the 1H and AB=CD Pattern which will give an equal move to the downside. We will be looking to add a position at the break of the H/S neckline. Levels: Entry 1 (Flag / AB=CD) - 143.513. Stoploss: 144.786. Take Profit: 141.250 or...
Price is in the C-leg of a Gartley Pattern which can continue to develop. At the moment, I'm only looking for a sell setup to complete the potential Gartley Pattern or to complete the X-wave in the w-x-y-x-z sequence. I would want price to give a confirmation for the buy trade at the completion of the Gartley Pattern before I will be interested. Trade with care....
Since we keep moving higher I identified a flag pattern on the daily and 4H chart. Now we are breaking out of it and the next move should be equal to the flag pole which ends at 23.45. Personally I don't trade that kind of pattern but maybe someone of you guys out there is looking for some short to medium term targets to take profits. I am still looking for 27.50...
Resistance at $2.16 -- Building a base with difficult upward movement. Jump up in 2 - 5 market days.
Hello Traders , please click on all the pinned charts to see how it is possible to use wave analysis to forecast the charts.
In general I am bearish on oil, however if we breakout of this short term downward flag, I'd be interested in buying any retest of the top of the channel. I will only go long if we breakout and confirm above the channel.
FISV gapped up on the daily chart on 29 October on higher volume, but the breakout bar was bearish. However, the previous resistance had already been broken and the breakout held so the move up can be considered stable. On the weekly chart a flag with a doji base also gives momentum to the upside a boost. The 50ma acted as support on the recent pullback (which...