Are you ready to go?Seller pressure along with bad news from the euro area and the possibility of oil growth can help to continue the movement to form a wave
AB=CD
NASDAQ Bearish Time WindowPrice likes to move in AB=CD price structures where there is a time and price element in the pattern. The AB is equal to CD on a time and price basis the CD leg being a 100 level expansion of the AB leg. This particular price structure here on the NASDAQ has two possible AB=CD patterns in play. The blue ab=cd is what I call a hidden time window because it is much harder to see. The black AB=CD is the traditional time window and it is usually much easier to find. The bearish harmonic pattern that I have highlighted is what gives the AB=CD patterns their price structures. The BC legs are found by using the A and D swings on the harmonic pattern. Once you are able to spot a likely AB leg you can use it to anticipate price and time which is how I have defined the downside target area.
AUDUSD - Good ol' Head & Shoulder in the making AUDUSD has been hit pretty strong by the news that popped up an hour ago, USD getting more and more strengh as it showed more inflation than expected.
Here we have a nice Head & Shoulder in the making, and price is grinding the neck line as I'm writing,
I'm already in position, as I've entered a little bit before the news, my trade is at break even now so, it's a free ride
If price happens to break the neck line, well then, we gonna see some blood on the chart!
In addition of the H&S we have what could be an ABCD push in process as well. And finally, as you can see on the chart, we first broke the ascending trendline, then price made a flag right around the trendline, which it used to retest the trendline, then, price broke the flag, and retested it so, I'm no expert but, that's a lot of evidences going in favor of a short, I wouldn't be surprised if the neck line was broke, to see price fall to the target area at 0.675
Cheers guys and safe trading!!!
DXY - ABCD pushHey there!
Here is the analysis concerning DXY for the following week. It looks like we've past the previous week trying to get in the rebound for what could be a continuation of the movement upward of the dollar, the C point.
Last week the market was consolidating after the big push of the dollar two weeks ago. DXY is pushing strong, supported by the fresh US news that popped out last weeks, showing that the US economy is pretty resilient. Therefore, the market is anticipating the fed reaction.
We're in this situation now where, Fed has been pushing rates higher for quiet a while to try to prevent inflation from devastating the economy, but, if the US datas are showing signs that the economy isn't slowing down then, the Fed might have to raise again the interest rates, or maintain them high longer then expected, pushing away the date the Fed pivot and then making the dollar still attractive compared to other currencies for which interest rates are under hte Fed's Level.
From a TA point of view, we're continuing the rebound that started around the 100 level, last week we broke and retested the 102.5 level crossing and retesting the upper trendline of the descnding channel DXY was in for months.
All of this is bullish signs for DXY that tend to make me say we might be into a trend reversal, at least temporarely.
I'm expecting dollar strenght this week, fueled by the news. From previous news, seems like there's a divergence between the market expectation and the actual numbers, in other words, market is being very emotionnal right now. Let me explain, the Fed has done everything to counter the inflation, its strategy being to slow the economy down, in order to lower the buying power of the working class, so the prices would drop. But, if datas are showing that the economy is still strong then well, Fed, the job isn't done, so you gatta do something about it.
Only 2 options really :
1) Datas show economy/inflation is slowing down => Fed will take it easy, Dollar will eventually fall
2) Datas show that economy and inflation is not slowing down => Fed will raise the interest rates higher, or keep them higher longer => Dollar will keep on rising
This week, we have inflation rate US and US CPI. If CPI is better than expected then Dollar will shoot up. Inflation is different because it's a lagging indicator, so even if it's falling down now, but that the US economy is working full speed then, the working class will eventually level up to inflation, but then, the FED looses at containing inflation under or around 2%
Well, we'll see, but, I'm bullish on DXY for this week, and will actively look for short on XXXUSD pairs, and for longs on USDXXX pairs,
Cheers everyone and safe trading!!
AB=CD (BULLISH)AUDUSD has formed an advance harmonics pattern (AB=CD) on its hourly chart.
The Price is trading above the EL: 0.68270.
ST: 0.68115
Targets:
38% AD: 0.68591
50% AD: 0.68738
62% AD: 0.68886
Gold ForecastGold Forecast
Gold is in a bullish cycle, and we will look for long opportunities when we see a clear 3 legs-down corrective structure. Unfortunately, the connector (B) of the current (A)(B)(C) is too shallow and it does not retrace enough according to our strategy to allow us to enter when the price reaches the IZ (grey zone). We do expect the price will bounce from the IZ, but it can be only the connector from a deeper (W)(X)(Y), so we are not going to take this trade.
What to do? 2 scenarios:
-The prices resume the bullish cycle ->We should wait for the price to break the 1,960 level before looking for buying opportunities.
-The price makes a deeper correction-> A new IZ will be created, and we will analyze its structure to check whether it is tradable or not.
In any case, we will keep you updated on the TRS community
Please remember to do not to risk more than 2% of your account on each trading idea
XLMUSD: Falling Wedge Sitting Above Support/Resistance ZoneXLM has showing Bullish Divergence within this Falling Wedge at the very important Support/Resistance zone at around 9 cents and looks to be ready to brakout soon. If it does Breakout i think it will start an AB=CD move that would take it to the 1.618 at $3.10 but the measured move of the wedge alone would take it to the much more conservative 0.886 target up at $0.35 this will likely move whenever XRP decides to move.
EURJPYThis is just An IDEA .
In EURJPY DAILY Timeframe have ABCD BEARISH Pattern GREEN LINES are Targets for TP.
WAIT until close RED candle.
HAVE GREAT DAY .
DHI Bearish IdeaThe Complex Union bearish price structure here is valid where I anticipate the red bearish pattern to fractal and become a left wing on a larger bearish pattern. I was alerted to this chart by another trader and it is a great sell signal with my system.
USDJPYThis is just An IDEA .
In USDJPY DAILY Timeframe have ABCD BEARISH Pattern GREEN LINES are Targets for TP.
WAIT FOR CLOSING RED CANDLE.
GREAT DAYS .
GBPJPYThis is just An IDEA .
In GBPJPY DAILY Timeframe have ABCD BEARISH Pattern GREEN LINES are Targets for TP.
WAIT until close RED candle.
HAVE GREAT DAY .
LONDON: GBPUSD ABCD/EXT LIMIT ATRPrice has pumped to a very strong key level and neckline of higher timeframe double top. Now we may see the dump play out and have entered using our ABCD/EXT setup which calls for a SL using our ATR on our trading timeframe. Big potential for downside if price does fall
ASIA GJ BOBBI ON IB MOMENTUMIn confluence with other JPY pairs, GJ seems to be for action with a multitude of presented playbook setups. We will go with a break out break back in of supporting structure with an inside bar break entry. If works, has high potential to swing for higher targets
LONDON NJ ABCD/EXT LIMIT ATRNow that the market has grabbed the money sitting below support, lets see if they play the dump and pump using a 272 fib ext and triple ABCD to join the bulls
CEMTAS AB=CDAs per my analysis the CEMTAS on BIST is going to make a move around 76. Which will complete is measure move.NFA
USDJPY ABCD BEARISH PATTERNThis is just An IDEA .
In USDJPY DAILY Timeframe have ABCD BEARISH Pattern Blue Rectangle and Blue line are ZONE, Accepted after saw a RED candle below of Blue rectangle, GREEN LINES are Targets for TP.
Have GREAT DAYS IN week.
TRXUSD: Cup With Handle Visible on the MonthlyTRX had a similarly Bullish ABCD BAMM Pattern on the FTX chart but that has since played out and gotten shut down. Now we move on to currently active exchanges and we can still see a Potential ABCD BAMM and a Cup With Handle; if we can stay above the moving averages i suspect we will pump to the measured move between the 1.414 and 1.618 Fibonacci Extensions above.
AB=CDEURJPY has formed an AB=Cd on its hourly chart the price is trading above the EL EL: 139.844.
ST:139.546
Target1:
62% AB: 141.566
79% AB: 142.114
EURJPY AB=CD BULLISH PATTERN EURJPY has formed on its hourly chart an AB=Cd bullish pattern.
The price is trading below the wall 140.964 with potential targets 143.182-144.715
2010: SABIC (Dow Theory)Classical Dow theory in picture
AB=CD pattern in formation
Wait for breakout of B which will be new HH
Short Trade Setup
1- Entry at Current Price 94.6 or 94.2
tight SL 93.4
TP 96.8
Long Trade Setup
2- New Entry 98.2 (on green candle closing)
TP 101.2
SL 97.2 (or previous candle bottom)
DXY - 4 HOUR - HIGH & TIGHT FLAG PATTERN BREAKOUTThe DXY has recently been trading in a tight range & has created what is one of the BEST technical setups in the market - the High & Tight Flag Pattern. In this video i'll explain what that pattern is along with 3 ways to potentially trade it.
If you enjoyed the video please do me a favor & hit that like button, also please leave any questions, comments or views below as I do go through & read every one.
Wishing you a great rest of your trading week & until next time
PLAN YOU TRADE, TRADE YOUR PLAN - Akil
