GBP/USD, GBP/EUR, GBP/JPY, EUR/USD, USD/CNY, DXY
LLOYDS BANKING GROUP PLC ORD 10P, FRONTERA RESOURCES CORPORATION ORD SHS USD0.00004 (DI), POWERHOUSE ENERGY GROUP PLC ORD 0.5P, UK OIL & GAS PLC ORD 0.01P, VODAFONE GROUP PLC ORD USD0.20 20/21, UNION JACK OIL PLC ORD 0.025P
FTSE 100, DAX Index, Euro Stoxx 50, S&P 500, Nasdaq Composite, Nikkei 225
Gold, Silver, Crude Oil, Brent Oil, Natural Gas, Bitcoin
BTC/USD, ETH/USD, BCH/USD, XRP/USD, LTC/USD, ETC/USD
US 10Y, Euro Bund, Germany 10Y, Japan 10Y Yield, UK 10Y, India 10Y
Gold, Brent Oil, Crude Oil, CFDs on Natural Gas, Palladium, Silver
Looks like Wave 2 was not a simple correction as previously thought; but rather a Double Combo Elliott Wave. I'd expect Wave 3 to begin shortly, and for it to be an impulse/extension that moves quick.
If trade entry is taken here, note that the triangle pattern is invalidated if point (e) drops below point (c).
Previously I'd wondered if his W2 retrace would hold the 200DMA or drop back to a 61.8% retrace (and coincidental meet-up with the 50DMA); well the price has clearly chosen the latter and now sits exactly where my "ideal entry target" was plotted on my previous chart.
Given that the daily Stochastic has hit oversold and is converging again, I'd say there's a good ...
Nothing to worry about as downtrend line was broken so we are still in a bullish trend at moment
Higher low being formed
50ma & 0.618 fibs as support
Wave 3 from 200 MA or Fib level.
Looking for 42p (or 38p) in fairly short order.
Good clean Wave 1, stopped right in the middle of my "initial target area". Wave 2 will either be defined by holding above the 200DMA (extra bullish), or it will trace a bit more to a lower fib. I think the coincidence of the 50DMA level and 61.8% Fib makes that a likely target.
Wave 3, when it hits, should be pretty explosive.
If we hold above 31.6p I can see this having some consolidation and making further legs higher in time for the 57.4p 2nd target.
Looks like newsflow has finally kicked this back into gear! The long-holding downtrending diagonal resistance price and RSI lines have now been broken.
Initial trading targets shown on chart.
Here we see a very long, very strong falling wedge pattern. Which is overall bullish. However, it doesn't look quite primed to go just yet (note the low volume on an RNS day!).
*However*, opportunities may present in coming weeks:
If it does continue to track down to the 78.6% retrace/support line - which is also a historical resistance level - then that could ...
Very long flag consolidation price has broken out from AND importantly seems to have backtested. This is off a50% retrace of the main move so looks a good candidate for equal legs up to the 161.8% extension at around 70p.
Bull pennant break, flagpole extension targeting 31.4p