petertrader1

petertrader1

Double Top

petertrader1

Break of trend line will trigger trade

petertrader1

Double top formation

petertrader1

ABC trend Continuation pattern

petertrader1

ABD retracement price broke B support and is heading dwn to -0.27 fib ext line a break of leg1 ext will see price trail dwn to Leg2 ext -0.610

petertrader1

Price broke out of support next target is and trend line support

petertrader1

Price has broke through resistance possible retracement to support line then further highs to upper resistance level

petertrader1

A clear head and shoulder pattern has formed on the 1hr time frame a break of the neck line will see us go long...use resistance levels as potential take profit zones.

petertrader1

If only we spotted this sooner ayy...as you can see price has rejected the 61.8 fib line ( that would have been our initial entry point with stops just above) our first take profit would have been at the 200 and 50 ma lines. A break of that would have seen us take profit at support level 1.0500 A break of this support will see further downside movement to fib...

petertrader1

So i spotted this late im not trading it but feel more than welcome to. ABC retrace target is @ -0.27 fib line price has bounced off the 61.8 fib line as well as 50 ma Its broken through our resistance line and the 200 ma Target is @ 0.5000

petertrader1

SO currently oil is in a clear down trend bounced 3 times off of support line, rejected the 0.38 fib line , break of support. Lower lows to be achieved. 1st TP @ 37.10 2nd TP @ 32.50

petertrader1

My over bias has changed on this pair....we do not control the market we can only hope to reflect what may potentially happen. So A,B,C retracement , bounce off the 61.8 fib line, 2nd bounce off support line, break of triangle. First TP @ 0.6000 Second TP @ 0.70500

petertrader1

ABCD FORMATION A,B,C HAVE BEEN ACHIEVED D TARGET AT -0.27 FIB EXTENSION LEVEL

petertrader1

BREAK OUT OF TRIANGLE SET UP A RE TEST OF SUPPORT TARGET @ RESISTANCE LEVEL 2040

petertrader1

OKK SO IM GOING TO BE HONEST WITH THIS TRADE, IVE BEEN AWAITING A BREAK OUT FOR SEVERAL WEEKS NOW AND YESTERDAY I THOUGHT IT HAD. HOWEVER I WAS SO EXCITED I FORSOOK ALL MY RULES OF ENGAGEMENT AND ENTERED PREMATURELY. I AM NOT WAITING A 'CLEAR' BREAK AND 'CLOSE' OF SUPPORT FOR ME TO EVEN CONSIDER TAKING THINS TRADE. TRADE SMART NOT OFTEN!!!

petertrader1

BREAK OF 200MA AND DYNAMIC SUPPORT COULD SEE US GO DOWN AND TEST 16.3900 AGAIN NO RUSH.....JUST GAINS!!

petertrader1

Same applies with this pair as with NZD/USD a break of support and an close in second zone will see us take profits @ 0.64000. A Head and shoulders pattern has also formed giving us more reason to believe it will short again

petertrader1

A break and close into next highlighted zone will see us take profits at the 0.6200 are. Lets wait this out and see?