Potential buy opportunity.
Early days yet but we could see a right shoulder forming.
However there is a small gap to the downside so if buy pattern fails this could lead me to suspect a gap close instead.
wait to enter on neckline break and enter on the bottom of the right shoulder with a tight SL.
Call it magic or executive outcomes, but this one has been painting many, many ABC patterns and looks like will continue to do so. This pair is going down, no offense. Goals in green, invalidation in red. Not financial advice, do your own research.
Any criticism welcome as this is my first TA based on harmonic and popular chart patterns. Thoughts?
Going long in order to complete Bearish Bat pattern back into previous market structure which has been a consolidation zone for a month then planning to short once pattern is completed.
i spotted what i believe to be a rectangle pattern today so i believe the trend will continue down here's why ...
my first signal appears if you look at the most recent candle which shows strong bearish pressure close to a support line, following that the RSI is favoring continued bearish conditions and my final confirmation is the stochastic...
CAD weighted index, Daily on the left, we have the general bearish structure (impulse + flag, although its a flat top triangle, the general wick directions point for a massive bearish move)
Weekly on the right, shooting star closure
I do believe CAD is about to lose a very serious amount of strength, unless we close above the trendline +flat top triangle on a...
looks like a morning start candlestick formation is taking place off monthly support on the daily chart. This is a bullish reversal pattern. Entering trade once the bullish candle has closed towards the upper 40 percent of the of the bearish candlestick, and once ma's have crossed over each other on 4hr chart
CADNZD - Correction after a nice long upward run
This pair is now return to the upper side towards the Resist zones, the uptrend has been strong, its time for a rest, price will bounce up and down at this area but move higher towards the target zones.
Watch out for those support zones, the correction could be a large one, so wait for price to touch support zone...
This pair has dropped to the lowest level, usually at this area, price rebound back up strongly, but this time, it has taken its time. but nevertheless, I do expect a nice rebound back up coming soon, just be patient will get there.