Price has retraced to the .764 fib, (most recent high) and has remained in a range just below it. Price is currently bouncing off the .618 fib and the RSI has failed to reach the 70. mark, and continues to move lower, creating bearish divergence (see chart) first target is horizontal resistance at .9217 which also coincides with the .5 fib level. A break of...
The Yen has been building in strength through the summer. Here price has entered in to a small range(within a larger downtrend), with price being rejected at the .618 fib retracement and the resistance line, which created a confluence of resistance. Recent candle wicks show rejection at the 101.800 level, so I suspect this retracement may becoming to an end. ...
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 along with specific target and stop loss.
We are apparently sitting on an older trendline that seems to be still in effect. nibbling off the 23.6% fib line effectively forming an ascending triangle. if you extend this trendline it crosses my 666 target right around the 3x timefib which is based on the uprun marked by blue vertical lines 0 and 1. line 3 is after 3x the amount of time between 0 and 1. The...
Idea is based on a combination of Elliot wave theory and median line analysis. This idea is not meant as a trading advice (non of my ideas is!), but rather my thoughts about the progression of price action in the long term.
Are we good to go? Is it a higher low, nicely placed at the lower median line parallel of the blue fork? It looks like CADCHF has found nice support at the 0.382 retracement, which is way above the half-way of the May rally and thus seems to be a factor conducive to further up trend advancement. I find the CAD to be very strong and to have a lot of latent bullish...
1.3735 looks nice if we can get above the 200dma at 1.3640+ See description on the chart. Long entry at 1.3600 Stop: 1.3575 Target: 1.3730
I expect this market to either retrace to a lower sliding paralel and then make a nice rally up, or go up right from where it is now. Those new highs didn't make much progres to the upside, so it looks like it wanted to retrace deeper, before it makes any further advancements. ----------- Disclaimer: There is a very high degree of risk involved in trading forex. I...
All roads seem to be pointing to buy limit orders @ 1.4990 - 1.960. Price will likely head towards 1.5300 and turn back for the trend line and consolidate there for a bit and continue its long term rally. 1.4990 region is also a past lvl of support + 50% retracement + trendline, can anybody say confluence? There is also an intraday short setup here as well. Price...
Now it's just a debate: if the current up fork is going to hold or fail, as price has crossed it from its upper parallel to the lower one with ease. This market is in a very-long-term down trend, found resistance above 94 and then even below that level. Now it is about to say, whether it's going to stay within the fork or not. It can either turn into an overshoot...