ALREADY IN A LONG TERM DOWN TREND AND JUST MISSED THE 38.2 RETRACEMENT ALSO MADE A DOUBLE TOP
Hey gang! The GBPCHF Head and Shoulders pattern I posted 2-3 weeks ago have broken through! Wait for a retracement back to the 38.2 level at around 1.42000 before trading. What I used to determine my action: -38.2 Fib Level -Major Resistance Level -Whole number resistance (1.42000) -Head and Shoulders Pattern -Recently reversed uptrend
Price broke through a pretty strong descending trend line. I'm looking for a possible long position opportunity. Buying around the 94.20/94.30 area at the 38.2 retracement. Let me know your thoughts on this setup. Thanks!
AB=CD Pattern with massive Feb Confluence 38.2 and ex 1618 at same point with RSI divergence
While coming in our kill-zone the DAX touched twice the recent 38,2 % Fibonacci Retracment. It is likely to test the lows at around 8850's. (lowest close). This is just the overall expectation. Now it's our job to find nice risk/reward short entries. Good luck! Felix
Uptrend + possible bullish Bat pattern completing at structure + confluence of 38.2% Fib retracement -> I'm bull again!
expecting some buying pressure at 122.00 psychophysical level. break retest continuation patten/Resistance became support. Also in confluence with he 0.382 fib level. Long term target still the same at 130.000
Just looking at the last leg down and the pull back on the DAX and I noticed the lovely way the Fibonacci levels have been respected. Current at the 38.2 level. What will we see tomorrow, a continuation up to the 61.8 @11500 or thereabouts? Teh 73 level is something I keep in mind for stop hunters.
TEXTBOOK SETUP. PULLBACK TO THE 38.2 FIB WHICH IS IN LINE WITH STRUCTURE LEVEL. AUD IS STILL FUNDAMENTALLY WEAK, THE CURRENCY NEEDS TO GO LOWER TO SPUR GROWTH SO PAIRING IT AGAINST THE POUND IS A HIGH PROBABILITY TRADE BECAUSE THE POUND IS THE 2ND STRONGEST CURRENCY AFTER THE DOLLAR. WE'VE HAD A TWEEZER BOTTOM AND SUPPORT FOLLOWED BY A HAMMER REJECTING OFF THIS...
basic textbook setup. price has retraced into a key resistance level which also has 2 fibs lined up with it aswell (38.2% and 61.8%). double top has now formed and price has bounce off the Resistance forming a pin bar/inverted hammer. Target at the neckline of double top.
LOTS OF UNCERTAINTY WITH GBP BECAUSE OF THE ELECTION WHICH IS CAUSING THE POUND TO DEPRECIATE. PRICE BROKE OUT OF THE RANGE LAST WEEK AND IT IS NOW LOOKING TO RETEST THE RANGE LEVEL (SUPPORT TURNED RESISTANCE). THIS IS A TEXTBOOK TREND CONTINUATION PATTERN (BREAK,RETEST,CONTINUATION) IF PRICE MANHES TO RETRACE BACK UP TO MY SELL ZONE I ALSO HAVE 2 FIB CONFLUENCES...
Hello all, if you are a bottom picker here is an interesting options play in the energy market on nothing more then a natural 'dead-cat-bounce'. I can make a realistic argument for $20 on UCO. This would be nothing more then a normal 38.2 Fib tag, gap fill and a bfrn tag (markets just love to run to big fat round numbers). I would expect this dead-cat-bounce to...
This is one of those trades that most persons will love, the type that jump out at you. Price moved last night from the previous high 61.8 retracement and fell exactly to the 1.27 extension. then we are now having a pull back. Measure AB=CD and you will find that price lines up exactly at the 1.618 extension. know this about AB=CD, they always complete, i don't...
I'm waiting for a big dip to buy NZDUSD. After falling 140pips from the peak at 0.8830-40, this represents a good opportunity to buy for a bounce. 0.8660-70 is the 38.2% FIB retracement level & weekly S3 pivot support. Long NZDUSD 0.8660-70 SL 0.8610 TP 0.8840 ===== www.ForexPositive.com Twitter @ForexPositive =====
Hello All, after an excruciating past six trading days, BTC shook me out of my short position late last night on what was a classic 'head fake' move. Fearful of a winner turning into a looser, I micro managed myself out of a very respectable position only to watch it shortly thereafter go exactly to the original target (UGH!). While there is nothing wrong with...