Could be another broadening wedge pattern. AO divergence and first red bar on oscillator on the 4 to 5 impulse. Median Support <190. Keeping it simple here.
Corrected, not a perfect fit on time and price points but I've attempted to follow the ratio as defined in the pattern rules and the pattern fits at least within the price action on this chart. www.tradingview.com Short term call. Looking for an upside down head and shoulders pattern that rhymes with the Three Drivers Pattern already on the chart. Need a price...
While not plotted off exact bottoms and tops, the Three Drivers Pattern now fits with proper ratio and within the price action of bitcoin. It is also not a perfect fit according to time as the second fractal is a shorter time frame than the first. After learning about how this drawing tool works, this is the best I can come up with to honor the rules....
Price has tested a sliding parallel of the slope( that dates back to 05-22-2013) multiple times and couldn't close above it. Additional reasons for entry can be found on the chart. Good Luck
I think BTC is about to reverse. We almost reached the median line of a schiff pitchfork which comes right at the D of the bat pattern. Also notice how the width of the bollinger bands is flattening, wich suggests an end to the upward move. Good luck
One of the strongest trends of the recent days have allowed this market to recover more than 61.8% of the last swing down (seen on a daily chart). Now 0.83 is in sight. It can be reached and breached, as such strong markets tend to test the upper median line parallel. ----------- Disclaimer: There is a very high degree of risk involved in trading forex. I assume...
Price seems to be following this dark red Schiff down fork. The NZD has been very weak of late, while the CAD - contrary to what was observed not so long ago, but in March this year - has been very strong. It may continue down to the level of 0.91 or even lower. Is 0.90 going to be tested? I don't know, but if this trend accelerates, it's possible as...
I've never used the 3-drivers charting tool before so I'm not sure about this last plot in August of 2014. Edit: Corrected once I learned the purpose of the tool - not a perfect fit, but it is at least contained within the price action:
Current price action seems to be following the slope of this modified Schiff Median Line set. Has it found support yet? I don't think so, as the potential buyers would have a problem with placing their stops here, so I expect a further decline. The CHF continues to be very weak and its momentum is now flagging. The JPY is doing quite well, it is strong and gaining...
I think GBPUSD is entering a range, if not already in a range from a long term perspective. I have given the supporting explanation within the chart. I have also provided a potential short opportunity in the near term, as explained in the chart. This is backed by the Volume analysis done in the linked Futures chart. Do let me know your comments.
I have published a GBPUSD trend analysis daily chart. This futures chart is supporting the analysis published in the other chart.
Like with the famous Darvas boxes, this currency pair has been stair-stepping, while moving along the path of a modifed Schiff median line. Let's see what the next correction is going to look like. Its bottom is going to mark the buying opportunity. The sterling is currently overbought, but it's very strong. The Swiss franc, on the other hand, is losing momentum...
This pair, being quite the mirror image of AUDCHF, has staged an impressive correction worthy of an impulse move. So, going short now, kind of feels like fighting the trend and it may not be easy. The AUD has been oversold in the recent hours and is quite likely to start a recovery in its momentum cycle. I find its relative strength neutral, not weak yet, no...
I think the AUDCHF is slowly completing its correction and is about to resume the uptrend. I find it likely to bounce off of two warning lines at the greenish support level that marks roughly the half of the completed May impulse wave. The AUD is clearly oversold, but I don't find it weak; rather neutral. The CHF is relatively overbought, but its relative strength...
Opportunity explained in the chart itself.
I find the CAD the strongest currency at the moment, although it's not as strong as the CHF is weak. Anyway, this combination definitely favours a long position. But it's probably not the best moment to buy it yet, as the CAD got relatively overbought and the CHF is in a rising phase of its momentum cycle. That's why I decided to wait for a better buying...
Price formed a pennant in the 4HR chart and continued its rise, as indicated in my previous published idea. As a continuation of that idea, if the price closes above yesterday's high in the daily chart, a long position can be established. Reasons indicated in the chart along with stop and targets.
Thanks to Technician for pointing out the short setup in this chart (link in related ideas). The price is correcting from the fall and a pennant has formed. Looking at the flagpole height projection meeting the median line, a good entry will be when the price breaks over the top of the pennant with a decent risk/reward ratio.