Price channel that has been verified by 123 rule. If it holds true, price will begin to drop to bottom of channel at $367 then rise back up, unless it breaks the resistance, which is unlikely because of overbought conditions shown on RSI.
Pretty simple guys :) Swing trading is really one of the best methods i ever saw! The reasons for entry are supportive trendline, ema 36 and structure! Wish you nice week! Marjan ForexSwingTraders
Break of trendline with ABC pattern, Also H4 candle pattern looking nice :) Wish you all the best :) Marjan Forex Swing Traders
Broken trendline and recent structure! EMA 200,36, recent structure are acting as a resistance + we got nice rejection candle. The risk on this trade is small because we are on D1/W1 structure, overall D1 formation looks promising. It is also a hedge form GBP/JPY and GBP/CHF long. Nothing fancy isn't it? Looks like it will be breakeven month :) A lot of ups and...
Broken trendline EMA 200 acting as a S/R, horizontal S/R as well We have also resistance trendline Rejection candles in place
We are going against D1 timeframe, but still it looks ok. Risk is small
Pretty simple price action trade...nothing fancy!
Reasons for setting buy orders: - D1 support area + bullish candle (D1) - H4 Divergence - H1 break of nice trendline with strong impulse leg We are waiting for retracement! Keep it simple :) Good Luck :) Forex Swing Traders
We can look for short opportunity if the price retest the FIBO 0.618 level near 123 pattern KEY level, just WAITING 4 CONFIRMATION - Pullbacksell! Good Luck!!!!
Nothing is more difficult than to make a good count inside a handle and try to identify the waves correctly (especially with a BTC like the one we have lately), so I went to my old Elliot teacher. The B wave was formed a few days ago and now we are on our way to C. All within the consolidation phase. The BTC is on its way to retesting the 780/700 range (-25%)...
Simple observation - most recent consolidation from end of Aug till now resembles a classic flag pattern (at least to me). Recent Friday close broke below the flag boundry - continuation??? Further market hesitated at SELL ZONE that I marked in red rectangle 1-2-3 SET UP Simple classic set up that has many variations - here is the simplest one that I know. Mid...
BBY still has to hit L3 marker for the HVF to complete. So there is a strong probability for a short setup. In contrast, there might be a possible Long 123 setup forming down the road as well. For a long position, entry might be @ prior resistances level round 35.44, otherwise if price action compromises support then further downside is expected. Note that 32...
Possible 123 pattern. Earning announcement in Sep 8th. If your looking for a quick trade best to wait for 4th pattern to develop as an entry point to go long. 2nd options is aggressive and its shorting at the resistances level 3rd pattern, then exiting near (or reaching near) 4th pattern. Anomaly movement is no rally to the 5th pattern point, consolidation...
Good time to go long, see 123 bottom pattern. Going in a uptrend to retest resistance. Target is at 420'0 on resistance line.
If you missed the short opportunity @ the 50% retracement of wave(1) , no need to worry as there is still plenty of opportunity left in this market. For starters , "The Trend Is Your Friend". We are currently experiencing LL's & LH's so lets stick with it. Entry: You can enter short @ the break of wave(2)'s Low Stop Loss: Above wave(3)'s high. TP: You can...
I buy gold at point 2 around $1243 and will close order at target B . Then I will sell at this point B with target 1.272 Fibonacci Retracement of A2 around $1230.