Reasoning: 1) Wait for the breakout and take a trade towards that direction 2) If the pair breaks the support of the horizontal channel then look for a TP target on the S4 pivot 3) Notice the 3rd bounce was not as strong as the other 2 and then price consolidated which makes me think that maybe the bulls are taking a break and it's time for the bears to take over
NK flying through the 200 MA in the last few days, has reached the top of its symmetric trend. If it proves divergent it may run up to the 9.00 area.
long term trend is in uptrend with trend strength increasing intermediate time frame is showing increasing uptrend with slightly flattening longer term moving average might be indicating consolidation...forming a tight symmetrical flag in uptrend move should lead to breakout past resistance area of 63.5x area and into areas of least resistance target is the .618...
-daily time frame showing in uptrend showing strength -intermediate time is showing symmetrical continuation pattern in uptrend..finding dynamic support on Long term MA -volume showing positive volume pressure -measured move shows potential to run to 59.84 which is .30 cents above previous resistance if resistance broken-up onwards! -looking for entry from...
Heading towards some critical levels now on GBP/CHF and expecting some big moves ahead and we have a few scenarios that are possibilities on where this pair is going. Currently there is a lot of bearish bias on all GBP pairs so a break below the symmetrical triangle and another bearish leg to monthly support at 1.19260 is more than possible. If we do break out...
If the symmetrical triangle breaks, the target red line
AUDJPY Too much blank space for Bulkowski symmetrical triangle, but other traders might not know. Sell at cnfm break of bottom tl. TP 76.50 Low grade trade. WATCH for volatility and also continuance to channel bottom. Historically, this position creates a minor sell before pulsing upwards.
EURJPY Symmetrical Triangle Breakout FX:EURJPY
Looks like it is respecting the zones / channels / ma's very well. Characteristics of PA is very well intact in this instrument. It looks like it has broken the mid pivot to downside, so natural expectation is to price to follow to the end of the channel which also coincides with range mid pivot. Stops would be above the top of the range / ma's / mid pivot of channel.
Slight consolidation over the last two days from the election hype enabled a retest of the top side of the symmetrical to occur. This coincided nicely with the 50EMA and the 50% retracement level. Taking in the technicals, we're looking here to target the 2.000 level. However considering generally weak Aussie economic sentiment and a sigh of relief from the London...
China Bubble with Symmetrical Trending Moves It's obvious we are looking at a equity bubble in China. I'm not worried where this goes, I'm more interested in where this ends. I want to be on the put side of this ETF. I have most likely missed 2/3 of this price move. Volatility and price velocity will be much greater on the downside, and more money can be...
Update : Look bulish at the moment The classic strategy (1): Entry: Take a long position at the breakout of the resistance starting from the fifth rotation and if the price is on the higher third of its annual range Stop: The stop is placed below the resistance Target: Theoretical target of the pattern Advantage: Strong probability to win Disadvantage:...
Right now, we are in a symmetrical triangle and we are going to have fake-out moves on the smaller time frames like we did just a few minutes ago that don't involve any real volume. Now we can see that consolidation is almost over and it's almost time to choose a trend. Since we made the peak at $315, we've had several patterns that might indicate a move, when...
Here on the 12 hour chart we can observe a solidly formed symmetrical triangle. The widely held expectation is that we will see price break out bullish with target #1 at about $420. However, this pattern resolves in the direction of the overall trend- 75% of the time. A top-side breakout could signal the start of a bull market for bitcoin... or we could break...
Goldman Sachs is a short to me here on the daily for a quick short. I'll disclose now that on the Weekly chart I am long based on the giant indented head and shoulders and the smaller head and shoulders that makes up the right shoulder. That is in my IRA however, as I do not purchase stock (writing covered calls) in my trading account simply because it ties up too...