Price have already been rejected on Friday but there is still some momentum to the upside in place. RSI is going overbought. Action: wait for a double top or some bearish candle formation to short
Major weekly structure confluencing perfectly with 38.2% Fib retracement of the last swing down back from 2012. The RSI is extreme overbought.
Some days ago I published a similar idea () which still looking good picking up more significat "pivot points".
Possible bullish Gartley completion point is about to test the lower trendline of an uptrend channel started in April. RSI is going oversold. There aren't relevant structure nearby Gartley's completion point so I'll wait for an extra signal to get in.
Price broken below major structure defined by B point. Wait for a retest of that level to short. T1: first major structure to the downside T2: Bullish Bat Cypher completion
Buy oppurtunity at perfect bullish Cypher completion then trade management looking for this ideal scenario to happen.
Buy after some bullish candle formation developed into PRZ on lower timeframe (1h)
Stopped out today at breakeven+15 pips on first short trade filled on the 24th, I'll wait for a possible double top with bearish RSI divergence to jump in again .
Price rejected by structure and possible formation of an AB=CD pattern completing in the same zone of a bigger bullish Cypher.
Fibonacci extension of recent swings high match well with previous structure. Looking at the last candle of daily chart, price was rejected below that structure. On the other hand, zooming into 1h chart, price broken last structure high. That's why I'll wait for a possible double top on the hourly chart to get in this trade.
An almost perfect bullish Gartley is completing into a nice bouncing area.
In a strong daily downtrend, a bearish Bat on 4h chart is completing at structure. Even if there is no RSI divergence, the oscillator is going overbought.
This pair found support at 61.8% Fibonacci retracement of the last big swing high. This level was also a great bouncing zone in the past. Recently on the first bottom of the pattern, RSI was extremelly oversold. Action: wait for a double bottom to complete at that level and buy next candle if RSI bullish divergence is in place.
Looking closer at this pair by using a lower timeframe (4h), a double top with bearish RSI divergence is in place. On the daily chart the pair is retesting a nice resistance level. Action: sell at market T1 38.2% Fib retracement of the last swing high T2 50% Fib retracement of the last swing high
Although 2 advanced patterns such as bearish Cypher and Gartley are completing at same level, I'll be a little more conservative than place a sell limit order at that completion point. There aren't significant structures looking left so I'll check for "extra signals" (double top, RSI divergence) in the red zone drawn on the chart to evaluate selling...
Bullish Bat in an area of consolidation of an underline bullish trend.
In this bullish underline trend a nice oppurtunity to get in looking for continuation. Both bullish Butterfly and Cypher patterns define a killzone in which 61.8% Fibonacci retracement of the last big swing high is right in the middle.
Waiting for the bullish Cypher to complete, this pair is now sitting on an area of support confluencing with the 50% Fib retracement of the Cypher's XC move. On the lower timeframe (1h) there is double bottom with bullish RSI divergence. Daily RSI is extremely oversold. Action: buy at market and go for a single target at 38.2% Fib retracement of the AB leg of...