Price rally to previous structure resistence with confluence with the 61.8 Fib ret. Looking to price action we clearly see that price is unable to continue the upward momentum and formed an inside bar with a "fakey" or bull trap. A potential short opportunity with a good risk reward
Price broke recent support and it is consolidating. This suggest that a continuation move can happen. I placed a sell stop order at the low of the mother candle with a SL at it´s high. A potential 2:1 RR trade. However i will cancel my order if price closes above the mother candle during today´s London trading session
Potential Bearish bat harmonic pattern formation in confluence with price resistence area on the daily time frame. TP are "standart" for this type of harmonic pattern formations
Potential bullish bat pattern formation TP as usuall for this type of harmonic pattern
Great short opportunity in US OIL Touches 1.272 ext in Daily Chart and 1.272 ext in 240M chart For fine tunning entry whatch RSI divergency in 60M chart and USDCAD
Hi TN 1,272 ext in daily chart just above. Also bearish divergence in RSI and 1.272 ext matches previous structure in 240M chart Great entry short oportunity
Update Price should test now previous resistence at 1.129.. Very nice price action here. Moved stop loss 1.135 area At this level 0,618 Fib retracement prices should slow down. Some profit taking from position traders and day traders. Also RSI oversold at a support level. Prices should rebound at this level. Depending on price action it could be a nice spot (...
Nice setup trade to short the Dax Reaching Fib extension at 1.272 level with RSI very overbought Entry short at 10500 SL above 10570 TP at previous support and Fib retracement of .382 at 10080
We are reaching a resume of the actual trend. Also prices are entering and testing a medium term suppoort with a very oversold RSI. Price should test the 1.272 extension of the actual leg High/Low swing and pause Below we have long term support at daily and weekly level so it is something to look if prices go further low that next support. I will brake this chart...
Enter long on pullback to previous resistence and on 0.382 Fib retracement
A good place to take some profit of the table and depending price action to open a short position
Hi TN agree with the trade setup, however in my opinion the entry is not at that level but a few ticks above in the FIBO extension from last swing leg low/High at 1.272 This level also matches a bigger congestion area on the left side of the chart