Pattern has started to form an AB=CD.
The C point is at a strong area of structural support.
There is divergence on the smaller time frame.
There is a break out of the trend line from 1hr chart.
Two take profits have been identified.
Remember, we can trade C to D and then D as a sell....
Price has had a small breakout of a minor trend line in the 1 hrs chart.
There is divergence on the daily chart which h shows exhaustion so a fall should happen soon.
A nice reversal candle stick is ideal.
I have drawn my expected movements of price. It can either form a double top or head and shoulders. If this is the case price will continue a bearish move...
From the large time frame price is near 61.8 level. This is a close to an area of structure.
The weekly trend is downwards so this would be countering the main trend. However a small break out has shown itself on the 30 minute chart.
Couple this with RSI divergence and we should see some bullish momentum until the descending trendline.
Price is at the 50 level of the last major fib retracement. There is structural resistance at this area. Price has formed a bearish bar out side the trend line. Price should continue downwards. Divergence is evidence.
From.my analysis we can see price has found itself back at the 61.8 level
By scaling through the time frames you can see a trendline break out on the 1 hour and it has retested some support. By placing an entry midway between the last bar and a stop loss at main resistance you can get a good risk reward of 1:12. On the smaller time frame I have an X spot...
This pair is in a bearish trend. The trend line has been respected. There is a rejection pin bar from the trend line and the 38.2 retracement. This is supported by some strong structure so I expect the price to continue a bearish move.
The pair has made a nice 61.8 pattern with price now at a previous level of strong structural resistance.
Price is in the process of making a reversal pin bar signifying a change of trend.
Couple this with other confluences if so required for a potentially profitable trade. Entry point could be a break out on a minor time frame.
to the left of the chart based on the 4 hours is a clear wedge / triangle pattern. Price has retested this in the form a 61.8 retracement.
The overall weekly trend is bearish so this helps as price will go bearish.
It is now at the 61.8 level so a nice pure pattern.
A trend line break out on the smaller time frame using a reversal candlestick plus divergence...
From this chart price has retraced to the 78.6 level of the previous higher swing. There is a level of structural support evident.
Price is currently testing the existing trend line.
I will wait for further confirmation such as RSI divergence and a clear minor trend line break out before entering.
*on holiday in cape verde so analysis is more basic!
Price has formed an ascending wedge on this pair.
The price has rejected the Fib 50 level.
Price has fallen below the trend line. I would like to see a retest on the smaller time frames before entering sell.
The price has made a strong bearish candlestick
Also there is a bit of structure on the 38.2 level.
This is a completed AB=CD pattern
Apologies for slightly off positions as I am using smartphone.
The price should break below the red trend line or if there is a good reversal candle stick this will be the start of a bearish move downwards.
Price is sitting between the 50 and 38.2 level. Price rejected earlier from the 50. Inside this there is a small ABCD...
From the daily chart we can see price has reached the 38.2 level. There is strong resistance based on the previous attempts. I've marked out a trend line on the last bullish rally. A break out would result in a bearish signal.