The price hit 1137. It's 61,80% fibonacci retracement level. In theory that should point out to the end of correction. Moreover there is Price Action formation called, Bullish Piercing. It's a trend reversal signal. On the 1h chart, there is RSI bullish divergence. My main TP target is 1182
AFTER AUD/JPY RECENT GAP AND TEST OF A LONG TERM 0.618 RETRACE, IT HAS FAILED TO BREAK ABOVE PREVIOUS LOWS; TWO TESTS OF STRUCTURE RESISTANCE AND BEARISH PRICE ACITON OFFERS UP A GOOD RISK REWARD SHORT OPPORTUNITY. A SIGNIFCANT BOUNCE OFF THE NEW 0.618 SWING HIGH/SWING LOW AS WELL AS A BEARISH ENGULFING CANDLE, INDICATES THAT AUD/JPY REMAINS CAPPED BELOW THE...
EA has been in a good uptrend since 2012 and I have often looked at it during this time. However, it is susceptible to deep pullbacks so has never been worth serious consideration. More recently (since the October 2014 low) a more reliable trend has begun to develop. The daily 50sma is now working well as support. Gaps up also have been corresponding with...
MDVN was a possible long for me back in November 2014. Price had broken above the $100 figure and retested it with a bull flag formation and I felt this was enough to propel price higher (which it did, marginally, a few weeks later). However, the move could not be sustained and price came back down to retest the $100 figure on several occasions - most notably to...