IDEA IS BASED ONA COMBINATION OF ELLIOT WAVE THEORY, MEDIAN LINE ANALYSIS AND FIBONACCI NUMBERS. THE RATIONALE BEHIND THIS SETUP IS SHOWN ON THE CHART. THIS IDEA IS NOT MEANT AS TRADING ADVICE. IF YOU ARE GOING TO USE THIS SETUP PLEASE DO SO AT YOUR OWN RISK.
GBPJYP is forming a Bullish Cypher which when completed can form Potentially another Bearish Cypher,, So one can take long position and ride till 0.786 retracement as shown and then take the short positions for targets to 0.618 retracements.. Lots of opportunity to trade if patterns work out as expected..
Happy Trading!!
IDEA IS BASED ON A COMBINATION OF ELLIOT WAVE THEORY AND MEDIAN LINE ANALYSIS. THE RATIONALE BEHIND THIS TECHNICAL ANALYSIS IS SHOWN ON THE CHART WITH SPECIFIC TARGET AND STOP LOSS. THIS IDEA IS NOT MEANT AS A TRADING ADVICE, IF YOU COPY MY SETUP PLEASE DO SO ON YOUR OWN RESPONSIBILITY.
IDEA IS BASED ON A COMBINATION OF ELLIOT WAVE THEORY AND MEDIAN LINE ANALYSIS WITH THE APPLICATION OF FIBONACCI EXTENSIONS. THE RATIONALE BEHIND THIS TECHNICAL ANALYSIS IS SHOWN ON THE CHART WITH SPECIFIC TARGETS GIVEN. THIS IDEA IS NOT MEANT AS A TRADING ADVICE, IF YOU COPY MY SETUP PLEASE DO SO ON YOUR OWN RESPONSIBILITY. GOOD LUCK
I believe we will see a break of resistance at the 1.8239 area with a target of 1.83486. This is backed up by the fact that the channel we are currently in is bullish and has been for some time, the entry was determined by confluence of the 618 fib retracement level and the long standing support/resistance we have at 1.81784 which was recently rejected 3 times....
UPDATE ON PREVIOUS POST. THERE ARE MANY FACTORS GETTING INVOLVED.
TECHNICALLY THE INDEX IS STUCK ON ITS 9-10 EMA HOWEVER, IF IT FALLS BELOW THERE IS NO SUPPORT FOR A WHILE.
IF IT STAYS ABOVE WITH VOLUME IT WILL RALLY.
NUMBERS TOMORROW WILL BE TAKEN INTO CONSIDERATION ALONG WITH TRIPLE WITCHING AND THE FOMC MEETINGS.
ANYTHING MAY HAPPEN WE WILL BE ABLE TO CONFIRM...
Market looking at healthy break (thank volatility) in long-term bear market. Huge pumps/Long being taken out. I called April 10th the lowest low, I see that staying like that for a while unless down-trend hasn't been broken.
Good news, hype and some bitcoin innovations have lead to a small bull upbringing.
imo, I believe that up to 650+ is more plausible and...
Bat Pattern Long along with some bullish momentum divergence for CCJ. We touch the 886 3 days ago, but today might be an opportunity to jump in at a good price if you missed the first touch.
We saw increase volume at the 'XA' leg and lower volume through the maturity of the pattern with increased volume at the .886 level.
I would like to wait for a retest of...
