Goldenratio
EURUSD Bearish setup against 1.1940 Technically I see the EurUsd unfolding a Triangle Wave 4 corrective pattern that is languishing in nature. The three way pattern we're are counting is expectedly in the wave (c) of a-b-c zig zag Wave C pattern down.
on the 30mins-1hr chart the five wave fall from 1.1961 we believe is corrected by an irregular flat (inblueonchart) that retraces from 1.1817 to 1.19408
The minimum target would be the A=C target of 1.1796 level.
The Next Target would be the A*1.382=C target at 1.1762
The Next Target would be the A*1.618=C target at 1.1707
Below this 1.1664 is of major interest because it was be the larger degree triangle C = (A*61.8%) Level.
We expect EURUSD to stay below 1.1940 and certainly 1.1961 and open Sunday dropping.
AUDUSD Short ScenarioHere we have AUDUSD hourly showing break retest of pivotal curve at the 61.8% retracement level confluent with a previous support zone. Stops above 0.7950 and final target at D2 extension 0.78150 (-61.8% extension) is a trade I am favoring.
OMGUSD reversalForgot to press publish by a bit, so optimal entries are sadly fortfeit.
OmiseGo stalled previously and established a lower low in conjunction with BTC. Later a HL was established, which created a new trendline with pre breakout resistance and the previous low.
I have strong confidence in this new low for two reasons, which i will now detail.
4RSI has balanced out at a good 52, upholding the bull trend and giving lots of room to the upside.
Secondly, i have noted just since yesterday that some asian alts (namely IOTA, OMG, ANS and WAVES to some degree) react less to BTC dumping. I suspect this is due to BCH acting as a hedge, and an alternate foundation for the alt ecosystem.
When BTC pulls back these ALTS hold very well or even go up in their BTC pair.
Entry: ~2.65
SL: Trailing the pennant support line, Currently 2.6
TP 1: 3.16 (30%)
TP 2: 3.88 (30%)
TP 3: 4.4 (40%)
If signs of a bear break occur to me, i will share them in the Idea.
Thanks for viewing, and Happy trading!
NZD/USD - Bullish 5-0 + GOLDEN RATIO X3Hello traders!
I am SUPER excited about this set up. I have been keeping an eye on this since markets opened this week.
We are looking at a bullish 5-0 on the 4H chart with NZD/USD.
Given the Fibonacci measurements at C point, it has been measured to the GOLDEN RATIO not only once...not twice...but THREE TIMES!
I usually never trade this pattern down unless the first 4 measurements of a 5-0 match a shark pattern, but you cant ignore confirmation like this.
I'll be trading this pattern down until it hit D point (0.7010), closing profit and following it up with a long position back up to (0.7200).
The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50
Volkswagen - uptrendAfter the breakout of the price through the descending trendline, price moved constantly up and bounced back on the upper line of the ascending trend channel.
Two days ago, the price just responded to lower trendline of the channel and is probably going to continue this bullish movement, heading for the upper trendline where it is likely to reverse its direction again.
Waiting to go shortThis pair is short term long and will head down for a short.
Short from key resistance level to key support.
Looking for rejection of 61.8 fib and will exit at -27.0 fib.
Bounce downA bounce off this trend line down to major key level confluence with 61.8 fib.
Wait for break of rising wedge.
Expected upside after this move.
May move stops to break even after 50%.
AUD/USD - Bullish 5-0 + GOLDEN RATIO X2 + ResistanceHere we have a bullish 5-0 on the 4H chart with the AUD/USD.
After the big jump to C point, we can look to watch price retrace from the resistance zone and make its way down to D point.
For even further confirmation, we are seeing the Golden Ratio 1.618 appear twice at B and C point.
The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50
USDOLLAR INDEX - USD Long BiasTe chs
1. We are trading above the high of JAN 2016 which is a very significant level (S/R)
2. The Willis Zone bounce indicates a highly probable leg to upside
3. Golden Ratio Correction increases odds of a leg up
4. Weekly Close above previous 5 weekly candles
Fundi es
In light of the FEDs likelihood of an interest rate hike, bulls will be coming in strong potentially pushing FX:USDOLLAR into NEW HIGHS
Personal Note
I am not trying to predict the exact movements of price. I am just pointing to my bias on the weekly timeframe. I will go long and short the USD during 2017.
"Its not about trying to be right, its about making money" - Ned Davis
"I profit and I will let others be the prophet" - Rodrigo Antonio
Warm Regards,
Waiting for a breakoutShort term consolidation
Downtrend breakout
Possible breakout triangle
This is my general outlook on the pair.
Will be looking for a nice reward risk setup during the upcoming week.
Bullish Break From Monthly SupportI am looking for a buying opportunity at the monthly support on this pair.
A BOUNCE FROM LAST WEEKS HIGHWaiting for price to reject the 61.8% Level
Will short this to the breakout point.
Risk Reward seems good.
TRENDLINE BREAKOUT ON THE 4HRFalling Wedge on the 4 hour.
Trendline has been retested on the 4 hour.
Bullish Trend Reversal?Waiting to go long on the retest of the trend channel.
A falling wedge seems to have formed on the daily so this pair looks bullish in the bigger picture.
This is a simple short term trade setup.
END OF EUR USD BEARS?Looking for a potential reversal pattern to trade to the upside.
Keep an eye out for a breakout from the trend channel.
GARTLEY FINISHING ON C TO D LEG LOOK FOR POTENTIAL SHORT
C TO D LEG SETUP TO FINISH FOR GARTLEY PATTERN LOOKING TO SHORT AT END OF D LEG
NICE FIRST PULL BACK WITH 61.8% RETRACEMENT AND SECOND PULLBACK WITH 50% AND THE FACT THAT 78.6 AND 1.272 LINE UP SO NOICE SEEMS LIKE GOOD GARTLEY SETUP
Bullish Flag on the Daily GBPJPYHere are my Thoughts for the coming weeks.
Lots of good Fibonacci confluence, to many levels lining up to be ignored imo.
So to start we have some basic patterns forming
Bullish Flag, we have had out impulse leg up and come back to the 382 retracement which lines up with previous structure resistance which could turn support.
The flag could do a, a,b,c,d Harmonic move which does line up with the 1.618 of a fib extension. The 1.27 level of this extension also lines up with the 1.618 of the fib inversion.
looking at the weekly highs and doing some fib retracements we have a 618 and 786 also line up with the 1.618 and 1.27. This general area was a previous are of structure support.
We are also in the Oversold area RSI
Lost yet? for me lots of little bits lining up which is building a strong case to the upside
There are a couple of key levels In Blue which are going to be areas to watch if price moves up.
Of course it could retrace further to the downside.
Good luck and Trade Safe
USOIL potential Bullish gartleyLooking pretty harmonic here!!!! $42.70 looks like good support on the 4h chart. Might look for a bounce off of the.618 retracement or a move down to point d with a potential reversal zone of $41 to $41.75
