Extension
EURUSD LONGWhat I have included on this chart is :
An Impulse wave
An equidistant channel
A Fibonacci extension
And A fibonacci retracement from the 1.618 level of the extension
The impulse wave and the fibonacci extension both create a major support level at the ~1.08641 level which has been tested quite a bit recently. The white levels are the retracement and I can see the first leg of the corrective wave reaching the .382 level of the retracement; setting a TP at ~1.09194
Bullish GARTLEY on EURUSD @ MARKETNot too much to say. Advanced Gartley Formation on 4h chart. Looking for 38,2% and 61,8% retracements as potential targets. Stops have to go below X.
Good trading
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EURAUD: Selling at possible trend reversal.EURAUD: Selling at possible trend reversal near 61.8% retracement. Target is at 261% fibonacci extension level
Asian Paints - Painting in Red, Breakout from previous SupportThe price action has just breaks below the previous support levels of 1100 and now it is heading towards the 1085, 1075 levels. Good time to short with stoploss 1126.
Target 1085, 1075
Stoploss: 1126
USDJPY 1H TRADE SETUPIm anticipating that this setup will probably trigger during Asian session tonight, and if it does I'll be selling the breakout targetting 1.27 fib extension. Trade your plan
Oil about to reverseAfter this fast rally, oil is soon arriving at the crossing of the Ichi cloud. At this point you will also find the 2,618 extension of the first retracement of the rally (last idea stopped). I will wait for my signal and position once I have confirmation. The two indicators shown are both overbought and may be used to signal the entry.
I also think some big movements are coming in gold. See related idea.
Thanks for your comments and likes.
NXPI Fib Extension to 93Based on the Low RSI and the Fib retracement, it looks as though we have found a bottom on NXPI. Depending on the RSI moving forward, I expect this trend to extend into the low 90's and probably to the first Fib Level. I'm long calls.
AUD/CAD: APPROACHING A POTENTIAL REVERSAL ZONEFX:AUDCAD is currently in a symmetrical triangle, if the price breaks out to the upside, we are looking to short once it gets to the reversal zone, there we have a 618 fibonacci retracement plus a 1.272 extension in confluence with a very nice Supply/Demand Structure Point.
Remember: Eyes on your mind not on your trade
CORTES TEAM
POSSIBLE BEARISH ABCD CONTINUATION AUD/USDAussie/Dollar just broke a counter trend line and has retested. A continuation via a break below 0.73051 will lead us lower. first targets at resistance level at 0.71450 and then onwards to 0.7000.
USDJPY SELL THE BREAKOUT - 60M CHARTAfter a sharp move down , on a 60M chart USDJPY is correcting itself up, I'll wait for a break down to sell this pair.1st target would be 1.27 extension and the 2nd target 1.618 extension.
GBPJPY REACHING 164.00After finishing an ABC pattern GBPJPY looks like its turning bullish and heading towards 164 area at least.We have divergence on H4, and I'll be looking for buy setups on lower timeframes after the trendline breaks.
BTCUSD Potential Long Opportunity in the Future (Deep Crab Pat.)1.) I show one recent harmonics pattern that has already completed within BTCUSD on the 4 hour time-frame, and hit its targets - Scott Carney's version of the Gartley Pattern.
2.) I show a Deep Crab Pattern that is in formation, and yet to be violated, with descriptions for how to calculate the "potential reversal zone" (PRZ), from which to look for bullish price action to take 2 equally sized long positions (or one position that you will trade in two equal lots later on). I also provide the general stop-loss and targets for this set-up, with a few added pointers on how to make it a high probability trade.
Gold topLast week strong rally seems to be now close to exhaustion. Even though the long term uptrend in gold remains intact, we are close to a local top.
I apologize for the crowding of the graphic, but these three items all point to the same issue:
- The pitchfork has been useful to define support/resistance for the last month and last session closed exactly at the upper limit.
- The 1,618 price extension from last two local top and bottom lays at 1296
- We're almost 20 USD outside the Bollinger bands which was useful top indicator on last occasions.
Also note that volume was raising along with price during the last five days, except for friday's where it decreased, marking the bull energy is nearly gone.
SL at 1305
TP at 1275 or even 1265
TCT Trade Eurgbp short abcd pattern + fib extension confluence TCT Trade Eurgbp short abcd pattern + fib extension confluence
Potential Bearish Oppurtunity Sell AudusdPotential Bearish Opportunity Sell Audusd 1618 extension + bat pattern + 61.8 retrenchment
EURGBP short (1h) - close below pivotClose below previous pivot low. Aiming for the 1.272 and the 1.618 extensions.
EG resuming short after profits have been taken.During the Asian session, the 61.8% retracement of yesterday evening's move held its own. Down trend could resume once profits have been taken at the 27.2% extension by the accounts that have been defending this price level. Tight Stop Loss of only 5 pips as this idea is based on the assumption that the bulls will unload and price will fall sharply after 0.8032 is reached.
