Ok so i've seen this kind of pattern before when i lost alot of money but anyway by looking at this chart i think EUR will make a new low if it breaks that support which is likely becuase most of the people will enter for long positions here just because they think that last time EUR bounced from this point but this time it won't if the statement made by someone...
We covered all short positions made at 1150-1160 level at 1125-1135 level.
Once again, price found support on that Green trendline - a rising higher low made since 2015 low of 1086. This further suggest that Platinum is also trading in a Symmetrical triangle pattern with a biased for further downside.
1) Break above 1186 we will go long
or
2) Break below 1115...
We are awaiting a break of the range base before activating long term shorts. Providing this happens as expected we will first target the -27 fib extension at 0.7360 followed by the support level of 0.7210 which is the range height added on which aligns with historic levels of support and resistance.
price is at the top of a descending channel with a previous 2 touches. momentum is also bearish on higher time frames, if AB=CD then high probability of price reaching 161.8 ext in accordance with harmonic structure. MA are in correct positioning and 127 and 161.8 ext are in confluence with previous major support levels on weekly time frame. Risk-reward ratio...
CLF was in a long term strong bear channel that broke out to the upside on a climax in late July and is now in the process of pulling back to retest the trendline.
The test will come at around 14.50. A couple of trendlines support that price and the bear channel will fall right into it.
There is such strong selling that I think the best the bulls will get after...
GOGO is forming the following bullish setups:
1) Head and shoulders bottom, but not yet completed
2) Pullback in a strong bull trend
3) Broke out of trendline, and breakout failed, thus pulling back perfectly to the trendline
4) Price is at a 50% retracement level from the $20 swing high
5) Bull channel and trend in progress
This looks like a good setup for a...
The price of EURUSD almost touched one year low. A positive divergence has been drawn on the H4 and Daily time frame so we could expect a bounce from the current levels.
We've got a ton of markers happening here signalling an incoming counter-trend (from bearish to bullish).
SIGNALS:
1. Double/triple bottoms (depends on how you look at it) testing a long-term support level over and over.
2. RSI shows a clear bullish divergence happening right now.
3. Steep decline trendline hits all the retracements' highs beautifully.
GETTING...
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 a specific target and stop loss ( daily close at this sl invalidates the idea!). Good luck!
I am still waiting for an up break, at least before the ECB monetary policy meeting from Thursday. Even though the Euro got pretty strong for the European economy to be handling, nobody seems to be interested in the US dollar. On a short time frame, I would see a break above 1.3890, followed by a 50 to 60 pips rally.
Today was another options expiration day and with it comes some interesting information about current market structure and where the smart money might be leaning going forward. While there was no 'freebie' Euro close rally into options expiration setup today (because Russian news keeps bidding price up) it was very interesting to see how 'they' closed USO out at...
Here is a really nice example of the BoT in action. Price had been basing through the overnight session as a wide double bottom was confirmed through the pre-pit open. That bottom setup long ideas and sure enough the BoT came alive when prices corrected to 103.26. I watched price action closely and was very fortunate to act when given the opportunity (wtg Brian). ...
