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Diagonal

NZDUSD - Long term upside potentialPrice broke the bearish diagonal structure impulsively last week. We are now expecting more upside on the Kiwi. Simply wait for a decent corrective structure to give us the 'confirmation' to take a long term bullish position. *Disclaimer - This analysis alone DOES NOT warrant a buy or sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach. The sharing of this idea is neither necessarily indicative of nor a guarantee of future performance or success.
by KarYong
2
CHF/JPY-Since I spent so much time on a pair that I hateChf/Jpy has intersecting pitchforks lining up exactly with equal length and the .618 retrace. Now.... Daily TDI looks like it may have upside, my buy from bottom still running in case of the leading diagonal scenario (until I see a reversal pattern). But the 1.236 extension level would probably be a good place to catch a wick off of should price break up, and the pattern does count out to go down when consider it in entirety. Notice the "3" next to the 1.618 extension... That is because if it makes it that high I would just be looking for a flag to continue up. I would think we would get an "X" wave here, so watch this area. It is at a point where you can have large potential sells or buys so keep that in mind. But usually when I have a pattern and intersecting forks, price will wick back in....
by thillygoosth
NZD/CHF Update- Trading Price ActionThis is to show you Nchf on a lower time frame. See the ending diagonal after it broke pitchfork, followed by reversal pattern? Now we got a small ending diagonal and it can come back down, possibly even breaking the low. It can also correct and then continue upside. But it is about reading price action and having a trading strategy. Right now, I am long and short. But right now is not the time of week to go entering trades. That chart I posted was the weekly.... I trade patterns, but base my entries off price action. I will try to do a quick video to explain it.
by thillygoosth
Short FTSE100 - Clean ABCSee above the buy limit order I have set up for the FTSE From the Macro analysis I published in my last idea, I am expecting some downside for the FTSE over the next couple of months. Now to find a good entry! As stated previously, I can see a test of the lower bound of the ending diagonal. EWT suggest we has just completed Wave C-1, currently in wave C-2 - a pullback to the 50% fib here is standard - h4 50/100/200 ma's have clustered just above the 618 fib. I have front run my order slightly due the the most recent strong bearish move to the downside. Lets see can I get filled. Good R:R for this trade. Once, my order is filled I will move my stop up to just above the local high to reduce my risk on the trade and increase the R:R. Best of luck! For more in-depth Analysis join me at - t.me or follow me on twitter @ColGal92
TVC:UKXShort
by ColinGallaghere5
1
THE BITCOIN ZEBRA BULL IS BACK! Bulls unite, for he has come.Right now the Zebra Bull is back in full play. After the last time the zebra bull appeared He smashed his entry, then smashed his way up to his third given target. Good job Zebra Bull, good job. He is back, and there is something brewing. I have linked to the prior idea dated July 4th so you can see how well the levels in bright green from last year were respected- more than most other levels - weird ; ) Now this future Bull Scenario that the Zebra Bull speaks of is displayed in the following. There is a conservative entry, as well as a bullish entry. The targets will be hit, all within the next day, or the next few weeks. We have seen the power of the Zebra Bull before, lets see if he can really help rev up the liquidation engines on shorts. For he is in favour of the longs. Goodluck, Namnaste
BITMEX:BTCUSD.PLong
by SKYLOBSTER
GBPUSD - Combination of wave & pattern setupWe have an ending diagonal structure completed on the daily timeframe, and a first impulse move to the upside from the recent low at 1.2957. We also have a bullish cypher pattern setup completing around 1.3011. Looking at the risk event for GBP this week, we have BoE rate statement. All these factors give us sufficient reasons to keep a close watch on the GBPUSD this week. *Disclaimer - This analysis alone DOES NOT warrant a buy or sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach. The sharing of this idea is neither necessarily indicative of nor a guarantee of future performance or success.
Long
by KarYong
1
GBP/USD A-B-C-D-EIt was perfect opportunity to buy GU off this fork I have had on it. The abcde pattern can even be drawn differently, as a larger running pattern, both line up. But keep in mind we didn't quite hit the fib level (doesn't have to) and I think we could possibly wind up with a larger diagonal pattern (ABCDE) within this pitchfork. So at this point, wait for a flag to buy, and I will check the pattern and price action if it reaches other side of fork for a possible sell. If it breaks out of this fork we will probably be getting a 50-62% retracement of this wave, possibly more, then we get another large wave down for a 1-2-3 correction in the bigger long term picture. either way I think we are in a reversal pattern, it's just I think it can expand down further. What I mean is, you bought it right this second, it could chop up and just do a 3 wave, reaching the other side of fork not really resulting in a lot of pips. That's why I say wait for a flag.
by thillygoosth
USDMXN - A potential reversal trade in the makingOn the daily timeframe, price has completed a 3-wave structure (ABC), hitting the ratio expectation between 20.39 - 20.97 area as well. On the lower timeframe, we are seeing a diagonal structure forming with a divergence in RSI too. These give us a good reason to be looking for a potential reversal trade on the USD/MXN, targeting 17.81 as the first target. *Disclaimer - This analysis alone DOES NOT warrant a sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach. The sharing of this idea is neither necessarily indicative of nor a guarantee of future performance or success.
Short
by KarYong
7
JNJ - 10% Upside OpportunityPrice is showing sign of a completed ending diagonal structure. We are looking for price to move higher from here potentially towards 133.43 - 136.93 area. **Disclaimer - This analysis alone DOES NOT warrant a sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach. The sharing of this idea is neither necessarily indicative of nor a guarantee of future performance or success.
NYSE:JNJLong
by KarYong
USD/CHFUsd/chf has broke its trend line in the form of a 5 wave diagonal. Therefore I would expect a 3 wave structure to happen. So if we have a leading diagonal, then I am looking for a 3 wave structure to either confirm further downside or bring Uchf into a larger corrective structure. If it makes a little correction and then hits that 38% fib right below it, that would then line up the fibs from this move down with the larger time frames. doesn't have to. Keep in mind that a continued downtrend is still possible, but I would think it will pull back at least correcting to confirm.
Long
by thillygoosth
XAU/USD price action analysisGold dollar is in a complex combo pattern on higher time frames. Appears to have done an ending diagonal followed by a leading diagonal. I expect this 5 wave it just did to turn into a larger 3 wave down. I do not consider the weekly trend line it came off to be meaningful. It looks like it did a trap pattern to continue down but that may just be a leading diagonal that I am referring to. The question would be whether the "B" wave was done by news movement. Anyways, I expect a little more upside, but in a corrective fashion. Especially if it pulls down a tad and then back up. But you see the level I am watching for. But keep in mind I consider a move up at this time to be corrective for now.
FX_IDC:XAUUSDLong
by thillygoosth