XAUEURGold / Euro has recently hitthe resistance for expanding triangle, which is also the supply zone. So My prediction is that of a drop headed down to the Quasimodo Level.
Quasimodo
XAU/USD – Key Levels For Swing Forex TradersFor the swingers among us, we can see the XAU/USD is bearish.
For now, the price is between two Quasimodo levels.
Quasimodo pattern is one of the most powerful reversal patterns.
The supply above is a bearish QUASIMODO pattern and a great level for sell position.
The demand below is a bullish Quasimodo pattern and a great level to buy XAU/USD.
Supply which is also a Quasimodo LevelThe fresh supply above creates a bearish Quasimodo pattern for sell position,
I'll sell at this supply and the target will be 57.00 zones.
EURUSDThe bearish channel has been broken out off the resistance, now we anticipate a further bullish rally towards the QML then we sell.
Potential Quasimodo Pattern Playing Out On BTCThere's a chance that a Quasimodo swing might be playing out on BTC after making a run for 10,1-- today. Might be a good chance to pick up on the dip into the 9700 - 9900 area.
NOT a short call. I think BTC is prepping for a big run to ATHs (don't mock me if we dump to sub 8k). I still have most of my long from 9440 open and will add to my position if good ole Quasimodo plays out and we dip into the 9,7-9,9 range until my avg buyin is around 9550-9600 where I'll update my stop to.
EG short?EG SHORT 01/July/19
My analysis is based 90% on Technicals (TA) and 10% fundamentals.
it's adamant to understand that both parties are in the losing position in regards to the geopolitical turmoil happening inside the EU council and UK parliament, both are losing out. Fundamentally concluding that this pair can swing both ways impulsively, as history dictates.
TA
#EURGBP - daily chart: the price is currently at a descending channels resistance level at 0.89740 (the channel formed since the highest price in August 2017 @0.92470)
RSI showing weakening momentum and also showing signs of divergence (signifies reversal may be due)
Since the impulsive drop from Dec 2018 to the current support level, at the lowest yearly price 0.83521, EURO has been regaining its strength. It looks like it’s due for correction following the rise, AND it’s already made its bearish move with a DAILY ENGULFING candlestick.
BUT, on weekly it’s not clear that the bears have started taking control, we are seeing a bearish evening star, however, weekly bearish price action is needed to confirm. Based on Daily we can speculate a devaluation of EUR in favour of GBP. EURGBP DOWN
SCENARIO:
Short at current price 0.89310
SL 0.9000 just below yearly resistance (retested 4 times) to let room for the trade to ‘breathe’
TP1 (mirror level) 0.88440
TP2 (support/resistance FLIP ZONE) 0.87010
OR
Wait for price to break below hourly resistance 0.89290, with either ENGULFING or other price action, and get in on the retest
OR
Sometimes we can only plan so much, the market moves where it wants to move, so an alternate scenario would be LONG EG if bullish engulfing candle breaks the current daily resistance (doubtful). Get in on the retest
TARGET: min 150 pips up to 500 pips
ESTIMATED TIME: 7-30days
Do you agree? Let's discuss :D
Goodluck
IDEA IS SOLEY FOR EDUCATION AND RECORD KEEPING (USE AT OWN DISCRETION)
EURNZD DAILYOn this chart, what we have is a bullish market currently giving a correction of "A,B,C" , My prediction is that it will be bullish, as it currently gave us a lower low after local low, headed up to our Quasimodo Level. After that, I still am looking for a drop maybe to 61.8 but I wouldnt sell, Id rather wait for the drop to complete then I can buy at 61.8 to the Daily QML.
Serious Confluence Indicates – GBP/JPY going fo CorrectionQuasimodo Level after MACD Divergence and Pinbar Pattern in GBP/JPY
Today, this GBP/JPY pair is in a downtrend of almost 1000 pips and is still considered bearish.
Yesterday’s 1D chart, the candle has ended as a Pinbar pattern. The Pinbar candlestick pattern is a reversal pattern and is a very reliable pattern to use amongst forex traders.
In this 1D chart, there is a bullish Pinbar which shows us the first signal for a reversal opportunity.
There is also a MACD Divergence price formation. If the price creates a lower low, then the MACD creates a higher low. This indicates that the downtrend is decreasing its strength, and now gives us the second signal for reversal opportunity. This is at least for the short term.
In the 1H chart, below, there is a third signal, which is a new demand, and it is a Quasimodo level which is considered to be a very powerful level.
The confluence of these three signals, the Pinbar pattern, MACD divergence, and the Quasimodo level, all create a reliable opportunity for a reversal position.
The right level to open buy position is the demand below, which is the Quasimodo level, and of course only, if the price retraces to that level.
The first target for this position is number 1, the supply above. The final target will be number 2, the supply at the top.
Indication that The Recent Downtrend In The M30 Chart has EndedTrend Analysis For GBP/USD, Monday 03/06/2019
As we can see in the M30 chart, the GBP/USD has just developed a bullish momentum. In the higher time frame, the price is still bearish.
Below us, there is a new fresh demand level which is also a Quasimodo level. A Quasimodo pattern is a situation where the price changing momentum with one strong movement.
As we can see in the M30 chart, after the recent downtrend where the price creates a few lower highs, it now creates a new higher high with one movement.
That situation creates the Quasimodo pattern and it indicates the momentum changed from bearish to bullish. Usually, this pattern creates an opportunity with a great risk-reward ratio.
The demand below is a great level for buy position and the target will be the supply above.
