NOKIA GRAPH ANALYSIS (trying new techn) - Multi path predictions*Note - this is my first graph of not using chart patterns but just trying to fit stuff together to predict. Please take the prediction with a grain of salt.
The marked intersection point seems like the most likely point for a breakout with multiple conversions. Looking at the different paths, it should be possible to predict the future direction!
Again, feedback would be awesome this is legit just a random graph I made.
Multiplepatterns
GBPNZD - Long setupSeveral factors pointing to a potential turning in this pair, but also waiting to see a few things happen. First what we see on the chart confirming bullish reversal bias:
- Harmonic Crab pattern
- Fresh demand level
- 4 month trend line support test
- High volume node
Now looking at the XAUGBP pair, we see price bouncing off a support turned resistance level and heading down, which is in turn an appreciation of the pound, wich further confirms long bias. However, The XAUNZD pair has yet to show a bounce off the support level which would further confirm this trade idea. If that gold/nzd pair turns back to the upside, im looking to buy GBPNZD.
BEARISH EURUSDWe see here a gartley pattern hitting the 78.6%.
There is a perfect abcd hitting the 78.6% the bc leg is hitting the 1.618%
there is also a three drive to a top pattern marked with blue. leg 3 to 4 expansion, ratio 1.272% is hitting the exact spot of the bc leg of the gartley.
If the 1.2500 - 1.2520 doesnt hold we should see a new top in the EURUSD
SPX500 CouplePatterns PRZMarket reached all time highs this summer but with very low volume. In the higher time frame (Daily) we can see that the price is currently consolidating, it did breakout to the upside but couldn't hold its gains, and its now trading back in the range. It creates a lot of opportunities for harmonic pattern traders.
Today there was a valid bat formation that I didn't got involved (Blue pattern), but doing my evening analysis saw that there are two other potential patterns if we continue to retrace a bit lower.
Bat formation (Purple pattern) and a Gartley (Yellow pattern). What i do like of these confluences is that it provides with a PRZ that could give us a high probability trade.
Gotta wait and see.
Keep it simple, and focus on the process
Twitter: @JeanC680
Jean