Could be at the end of an ABC Zig Zag wave pattern. Getting some bullish candles in with bears still fighting for position. We are looking for price to reach 38% or 50% or even 100% of the recent high.
Possible expanded, regular, or running flat. If not, it could just be a 38% retrace of the recent low. Let's see if price can reach the shaded area. Possible bearish divergence on the daily timeframe.
Possible pattern spotted. Head and shoulders pattern forming? ABC ZIgzag? Let's see what happens.
Could be making a regular, irregular, or expanded flat. Let's see if price can reach the shaded area.
We are just coming off of a bounce of a flat wave. Price has already reached the 50% target. We want to see if we can reach 78% to 100%. Would be lovely if we can reach a double top if price retests the high of wave B. SL: 0% TP 1: 78% TP 2: 100%
Possible Expanded Flat. Price could touch 161% before moving upwards. Stop Sign SL: 142% Flag TP 1: 38% TP 2: 50% Gift TP 3: 100%
Possible Expanded Flat. Price could reach 161% before taking off if trade is valid. Stop Sign SL: 142% (Risk management purposes. Will add order at 161%) Flag TP 1: 38% TP 2: 50% Gift TP 3: 100%
A retest of the current trendline would put us near $380. We will look for a breakout to the downside or if price may test the high after this move.
We could be at the last bear run on the DXY until we see more damage in the usd makets. If we look left, we have just completed and abc zig zag which transformed into a new abc zigzag to the upside which may turn into one of the abc flats depending on price action. The party is still going on which is cool but be careful because there is work in the morning lol....
We may have spotted a double bottom with a regular flat elliott wave setting up here. Price could retest wave "B" anywhere between 50 to 100%. We have our targets and stop loss set. Let's see what happens. If price does form a double top, we will take another look to see what may come next.
The main reason im bullish at this moment is due to there being potential bullish rsi divegence between the rsi having a double bottom with there being a lower low in recent price action. I believe that we have just finished a "abc" wave pattern and may be ready for a retes of the "b" wave anywhere between 61 -100 percent. Which would create a double top. I this...
Price is trading sideways. RSI is at 50 level as we are losing momentum on the Mac D. We recently made a new high since our last crossover on the Mac D. However, since price is trading sideways with not a lot of bull volume, this may be indication that price could either be exhausting on this hill or it could be ready to retest the previous low mac d at some...
Update! Ok cool, looks like a Head and Shoulders pattern has been located where the circles are. The orange arrow shows price climbing on declining bull volume. Mac D is on top side. RSI is overbought and also could be creating a double top with a lower high which could be bearish divergence. Let's see if test the previous low RSI level. Price could continue to...
Looks like price has risen again with declining bull volume. If you look at the orange arrows, you can see what happened last time price action held after price rising on declining volume. We are overbought on RSI. If you look closely, we are on the top side of the macd and its just crossing. However, on the 4 hour, we are both overbought on the RSI and the Mac D....
I can't lie....I'm glad this trade working out. However, I am now candle watching on the 1 and 4 hour to see how much juice this pair has left. I don't see any decline in volume even with us being at overbought levels on the RSI. The macd is just now crossing the zero line on the 4 hour timeframe. Resistance has barely been met but is close. Would love to see...
If you saw my current outlook on the DXY, this pair could have some more room to go down if sentiment holds true. I exited this trade earlier today with 60 pips and wanted to play it safe when the market started pulling back. However, this one of my 4 tickers I trade so an update needs to happen. The RSI is not OS just yet but is close. MacD still on top side and...
We are at a resistance level here. We may have some bearish divergence here with a double top on the RSI and the recent higher high. Price seems to be have risen on the more recent move with not enough clearance on bullish volume so I can't buy it. RSI is at a 50 level coming down off some sideway candles. Could price be exhausting? I can't see why we wouldn't see...
Potential Double Bottom where the blue dots are. Last time price was overbought on the RSI and Mac D, price was around $112.55 ish. The RSI may be creating a Bullish Divergence if the double bottom holds and we create a higher low on the DXY. Last time there was a crossover and the Mac D was on top was near 113.94ish. Let's see if price tests any of the recent highs.