Fibo
GBP/AUDThis is what is making me not so overly hot about the Eur/Aud sell, at least in any long term. GA looks like it needs to pull up. Best thing to do is wait and get in on a 1hr flag, but it looks like it will at least be creating more of this smaller corrective structure with the possibility of going up much more pattern wise. It can extend down more in this channel, but I see it very likely to go up and at least tag that high at 1.78. Just keep in mind that how choppy this pair is. But this the type of price action (even from the top) where run it back up. Notice the smaller WXY pattern, and the larger one. Eur/Aud is at a key spot where it can pull down some, I will post an update on that in a sec. Keep in mind they are in correction but are at a point that they can breakout and make a move.
USOIL Corrected 38.2% On Higher TFsUSOIL just saw the anticipated correction to 38.2 FIB level of its impulse leg. The previous setup leg fading trade is closed and building long positions from here seems reasonable. However, theres a possibility that it'll see another round of selling that can potentially take it down to the 61.8% FIB level around 6805. Judging from previous experience with oil, corrections like this are bought pretty quickly, so monitoring V type of price action on higher TFs can provide additional information.
UJ Swing to profits: 5/25 UPDATE. #swingtrading #fibonacci #YENUPDATE 5/25/18: Our pattern is continuing strong and zones have been very profitable. Be aware of RSI as price continues to rally from ~109.016, which is currently a strong support for us. Keep in mind this chart shows zones that continue past 5/28/18. On the 28th Japan will be releasing employment rates & Job application ratio which will undoubtedly create price action.
BTC reversal @ 7460FIbo taking shape nicely. ABC pattern confirming the range on the 4 hour.
618 extension at 7465 looking like a nice bottom for an entry and aligning with major previous resistance on the 3rd of April.
If we lose 7700 it will be a great entry.
We have seen big reversals in the past when the RSI reaches close to 20 on the 4 hour.
Will be looking to take profit at 7900 and keep a tight stop in the event of a dead cat. Still good for a scalp imo
GBPUSD approching convergence area & oversold on the daily.Warriors!
Back for some battling! Lord Palpy took off he was tired waiting for a crypto crash so he asked me to take the throne back.
I am seing a really nice opportunity here, GPBUSD is oversold and getting to 0.382 of the move that started a bit before 2017 which is surrounded by a supportive area, and not far below that there is also the 0.786 of the smaller term impulse that dates from 102017.
We could bounce on 0.618, we are testing now as support a price which was previously a resistance as can be seen on the daily, but I prefer to wait for the next area which seem very solid, and an rsi even lower will allow me to go in even more confident.
I'll zoom in on that area when we get there and I'll scale in as best as I consider to be, a target will be estimated after a reversal level is hit.
NEOBTC | Elliot 5th Rally %7.5 Possible ProfitDear All,
Neo started its ralli and now is officially on its 5th elliot wave.
1) Elliot 3rd wave just stopped at Fibo extension 1.0
2) Next ralli broke the resistance where 3rd ralli finished (@0.008735) then found support
3) now it goes to the last of its rally (short-term) at @0.009540
lets jump to the train.
BTC double bottom and FIb reversal @ 6kPerfect ABCD move lining up on the 4 Hour bearish fib.
If the range is broken at 6580 downwards it will be looking extremely good for a reversal at the 618 fib extension in the 6000 area.
lining up nicely for a double bottom as well.
There is still room on the RSI for selling to get there.