After the SNB announcement the USD plunged against the Swiss Franc. Since that day it has been fluctuating in an ever smaller range (see the 240 chart), never exceeding the 0.88 range. This forms a flag pattern on the chart which usually results in a trend continuation (in this case to the downside)
On the 60 min chart we can see a bat pattern completion which...
This pair (as many other EUR pairs) has been very bearish. We are looking at a potential Cyper Pattern completion here around 1.4331 (a 1.618 extension of AB and 1.414 extension of BC can be found a little lower) where you can enter the trade for a continuation of the downtrend. C did not fully reach the 1.272 extension of XA but is within a couple of pips from...
What fun would trading be if we didn't stem up a bit a controversy every once in a while. Now when looking at the higher timeframes everyone is calling for a long on the GBPAUD based on the previous level of structure that we're coming into. Me...well I took a short position this morning at the 86 even handle. Seeing how more than 80% of traders fail I have no...
we will maybe see a Head&Shoulders pattern along the trendline. this would also set up a Gartley around 350.00, which is a massiv sell zone for me, as we're in a down trend atm.
After yesterday's scare, Gold has given us an outside return back into previous structure highs. On the way we've happened to form an advanced pattern as well. I typically prefer deeper completing Gartley patterns, but even though this one is shallow, it goes with the underlying trend. Pattern traders can look for a move back down to that magical 1200 level, why...
The (4 hour) 10:00 candle bar on 06/11/2014 sharply broke below the 1.24700s resistance level, indicating a bearish market continuation.
My aim is to go short on the pair, once it tests this level which should now become support. This prediciton is backed up by an X to A 0.618 retracement on this same level, and RSI divergence on the 15 min chart.
Brought to my attention by one of my Syndicate Members, what we're looking at is a bearish Cypher pattern. If you take a look at the recent movement of the market we've just put in a new structure low (LLLC) and the Cypher completion comes at a retracement back into previous structure along with a 38.2 Fibonacci retracement from our bigger swing.
Unfortunately...
Price action has maintained a falling direction with passably uniform cycles below the 10 ema and trend line resistance offering entries below conspicuous high test bars. The moving averages are in their correct order and fanning out pleasingly. Tonight's set up is also an entry below the high test bar that has rejected resistance at ~17.60 and bounced off the 10...
GBPJPY has been in a consolidation period period for a few months now, just recently broke upwards putting in substantially higher highs.
Price has retraced back into previous highs providing an opportunity to go long for another upward wave. Candlewicks showing price is respecting this support level
RSI showing pretty huge bullish divergence
Upward trend...
Crude oil has shown a promising downtrend respecting key levels where it's seen to be giving beautiful entries on its visibly apparent journey south. Currently, a high test close rejecting 99.60 after a pullback presents another such entry with a target area aimed at 88.50. 99.60 is within close proximity to the 38.2% Fibonacci retracement level. Today's high test...
Today's low test bar bounce on the 20 ema suggests a continuation of trend. Price has rejected and found support at ~1.0937. Price has also sharply risen above 50% retracement and is looking to close above the 38.2% Fibonacci level. Convergence on the Stochastic and RSI is pleasantly favourable.
entry - above today's low test bar
stop - below today's low test...
Gold (XAU/USD) has shown repeated weakness and is once again offering a short entry. A break below and a retest of 1240 forming a high test yesterday bodes well for further price decline. The reward potential is a hefty 5:1 on the way down. Although a set up is still visible, there are, however, a few words of warning. Beware of Stochastic and RSI divergence,...
1D trending up with retracement on zone
Taking the trade on 1H chart as a double bottom, 2nd low is higher than 1st low. We set the SL below the 1st low
