After trianlge completes, look for another corrective structure. If the corrective structure is down, then this means the trend is still up. The corrective structure will probably last only 3 to 5 days.
I think the Market is over-valued. I'm on HOLD for this market, until I see prices return to reasonable values.
With the EURUSD we saw last week a break below a previous key level on the monthly. The pair has since come back up and found some resistance with this level.
We have what looks like a bearish flag forming.
We have had a 382 retracement, looking at the fib extension and fib inversion we see the 1.27 and 1.618 line up with an area of monthly support. I feel we...
One to one harmonic move with structure and fibonacci confluence at the completion of the harmonic move. Reason for entry is the double bottom on d completion on the ABCD pattern.
Harmonic Move which ends, at that point there is previous support and resistance with a lot of Fibonacci confluence such as the Golden Fib 1.618 also the 1.272 the 1.414 , 1.13 which is a minor fib and finally there is a Fibonacci retracement and the ratio which is in the kill zone is the 88.60 which is another minor fib.
There is also previous structure support...
Hey traders,
We are expecting for the retracement to go up till it reaches the PRZ at a minimum of @1180.00, where we have a major fibonacci level (0.618)
we also have a nice and clear resistance @1182.5
This zone presents a decent entry with the trend assuming it follows along with the descending channel,
Remember de Gols is a "Big Mover" so mind your risk...
So this pair is about as volatile as it can get when trading.
I've tried many times to trade this pair when your right it goes great, when your wrong it can escalate very fast! But the speed at which this pair racks up pips is what attracts many to it.
So here are my thoughts:
We are firstly in that overbought area on the RSI, I Use 80 as the top parameter...
Looks like a harmonic pattern completion. Crude Oil Inventory report coming back quite a bit more than expected strengthens my views on the bearish sell rally followed buy a good move up.
