Looking for price to retest the recent highs. Price is at a level im comfty with to get some type of bounce to the upside. Let's see what happens.
Price at nice support level. Looking for a test of recent highs.
Let's see what happens! Possible Bullish divergence on the RSI with the double bottom on indicator and price action creating lower low.
Slowly melting away. Let's see if price rejects the top trend line.
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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...
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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...