1. Rectangle pattern (buy low sell high)
2. Strong support
3. WW pattern wave 4 almost complete
4. Symmetrical Triangle within WW
5. Play the range
6. Break and close (D1) of support signals SELL OFF
Target 1: 1.2605 Take Profit: 1.2690
R
There is plenty of news coming out today on the €, with several pmi´s and updates on the Greek debt negotiations hitting the wires. Greece no doubt will have the biggest impact here and a resolution should be imminent. I must say I am somewhat surprised to see this pair has held up the way it did. Zooming out a bit, we can see that since the beginning of February,...
: see below for further analysis. This trade failed largely due to my target being drawn from the wrong place, causing my t/p to be lower than it should have been. Charts have been posted below to illustrate.
The symmetrical triangle broke out to the down side with a completion that looks to be around $205. I've been expecting this level for a while and it...
Hello everyone,
In the middle of the week it became apparent that EURUSD is also forming a triangle during its correction.
It's symmetrical as it should be, and as I've counted for you it has all its 5 waves complete and clear.
I've already shorted this pair hours ago when it got rejected off the upper trendline, but I'm sharing this idea now because I feel...
Hi everyone,
This week has been quite slow.
Now at the end of the week the trade that I've been waiting for the whole week is about to hit entry.
This setup is so powerful that I'm gonna have multiple entries at different levels, so in case the price doesn't get as low as I planned, I don't miss it.
As I posted in a separate idea, CADCHF had been stuck within...
The "d" leg has bounced off the trendline perfectly and is heading downwards.
We're currently sitting in the "e" leg of the triangle, so it's a crucial moment.
Once we hit the lower trendline the price will jump up out of the triangle and a new bullish 5 wave move would be on the way.
I'm putting my buy orders at around 0.843 where it takes the same amount of...
Hi,
As you all know the long term bias for CADCHF is bearish. Just look at the weekly time-frame.
In the Daily time-frame we've seen a correction to the up side (that I called it A leg of a ZigZag) which lasted 201 calendar days.
Now I've waited for the B leg correction and as time unfolds it seems to be a Symmetrical Triangle which has already shown its "d...
Technicals:
Bullish Signals from:
Symmetrical Continuation Triangle
Expected Price Target: $6.00+
Timeline: 4wks
Bollinger Bands – W Bottoms
Last bottom lower than the prior with bonce toward middle.
MACD
Line cross-over with upward direction.
Parabolic SAR
Start of uptrend with 1 period. Awaiting more confirmation.
Net Volume on rise.
Conclusion:
Short...
The following ideas hinge on price breaking out of the current set of triangles to the down side. We've got two concurrent triangles, one symmetrical, one descending. It is not scandalous to state that our over-all trend is still down since $650. A symmetrical triangle will break in the direction of the over-all trend 75% of the time, while a descending triangle...
Bitcoin price has fallen through all the triangles drawn on this chart - including the big green symmetrical triangle based on the $339.79 low.
Bitcoin price failed to reach escape velocity after breaking out of Andrews' Pitchfork and could never break above descending blue price trigger line. At this point, there is the possibility that price falls back into the...
(See first part here: )
The third triangle is the black symmetrical triangle. It bears some resemblance to the blue triangle in that price spent quite a bit of time looking as if it might make a run at resistance, but instead falling back toward support.
The next element is the Andrews' Pitchfork. Although price broke through the upper parallel line, it has...
Bitcoin $550: The Maginot Line?
Recently there has been quite a bit of analysis of the Bitcoin price and support in the $550 to $560 or so range. While on the one hand, there indeed has been some support there, I'm wondering if that level hasn't transformed into the equivalent of the Maginot Line (en.wikipedia.org) - something that appears to be a strong line,...
A symmetrical triangle was drawn on the EURUSD 60 mins chart. At this point there is an equilibrium. The triangle (theoretically) signals a continuation of the previous trend, while fundamentals are still favoring a fall. I say it could be better to wait for a confirmation. An up break could trigger a rally to 1.3664 (first target), while a down break could signal...
The EURUSD seems to me a little bit boring. The 100 - 200 EMA Area is acting very well as a resistance. Here the price has drawn a symmetrical triangle. A break above the upper line would trigger a rally to 1.3665, while a break bellow the lower line could trigger a fall back to 1.3500. (I will keep my eyes for a false breakout above and a fast drop to 1.3550)
