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Reversalpoint

USDCAD - Opportunity to reverse lossesSince May 5th, on USD/CAD 0.17% has been taking place almost continuous downward movement. A broader view on daily chart shows that we are dealing with a long-term bullish trend . From mid-January price moves in a upward channel. Currently price is at its lower edge, and last Thursday there was an attempt to initiate a rebound. Technically, there is a chance at least for a short-term recovery. On H4 graph, breaking correction line and the last high can be a signal for bulls what in practice is crossing level 1.35. Bullish movement would then reach quite a considerable range compared with last declines and this could overtake advantage of demand side.
Long
by Comparic
USDCAD - Opportunity to reverse lossesSince May 5th, on USD/CAD has been taking place almost continuous downward movement. A broader view on daily chart shows that we are dealing with a long-term bullish trend. From mid-January price moves in a upward channel. Currently price is at its lower edge, and last Thursday there was an attempt to initiate a rebound. Technically, there is a chance at least for a short-term recovery. On H4 graph, breaking correction line and the last high can be a signal for bulls what in practice is crossing level 1.35. Bullish movement would then reach quite a considerable range compared with last declines and this could overtake advantage of demand side.
Long
by Comparic
Elliott Wave Analysis: Will German DAX Top Or Continue Strong ? German DAX is at a new high after very aggressive buying pressure since market open. However, market is currently seen in fifth wave trading at some Fibonacci resistance area that can cause a temporary top, or even turn lower into a new correction. Disclosure: We do not own any assets or share of the instrument mentioned in our outlook Please be informed that information we provide ARE NOT trading recommendation or investment advice. All of our work is for educational purposes only.
OANDA:DE30EUR
by ew-forecast
AUD/JPY, DAY CHART, SHORT (8-JAN-2017)Note: AUD/JPY is reaching the strong resistance zone at 86.2x level. There are 3 potential trading plans for this pair: 1. We expect the price will approach the resistance zone at 86.2x level. If there are 1 strong bearish or 2-3 bearish signals, we will choose to short. 2. There is possibility that the price break the resistance zone and reaching the previous peak at 86.9x level before heading down. Need to watch this level. 3. If the price break both resistance level strongly, we will support bullish view on this pair
Short
by YongLiang
1
Key reversal in Gold after a double zigzag correctionIt has been a pretty deep six month correction in OANDA:XAUUSD . The only valid interpretation of this corrective move in accordance with Elliott theory appears to be a double zigzag W-X-Y . This double zigzag subdivides into two actionary zigzag waves A-B-C intervened by simple reactionary X , which is a corrective wave itself. According to an introduced count, we have an impulse-triangle-impulse representation of both A-B-C sequences. Where B waves are both running triangles, implying subwave b going below the end of wave A , previous impulse low. As OANDA:XAUUSD has completed another triangle (which always occurs in a position prior to the final actionary wave) inside an impulse wave C, we are going to have a 20 point decline to complete subwave v . As impulse C has 3rd subwave iii extended, I expect subwave v to be equal to subwave i , which is also equal the height of triangle in subwave iv . Thus we have to arrive to over target and long position entry point @ 1115.x In a zigzag, the length of wave C is usually equal to that of wave A, although it is not uncommonly 1.618 times the length of wave A. This relationship applies to a second zigzag relative to the first in a double zigzag pattern. As one can see, we have closely approached this target @ 1120.x. Gold rarely bounce right of the targets, more common behavior is to penetrate a target and take one's stops out first ;) I suggest to look this subwave v evolves, making an RSI divergence between subwave iii and subwave v . Daily RSI(14) have been in an oversold territory for a while, but the recent sharp move to 1223.x took it to 20 level and then it bounced back, creating a good opportunity to form a divergence. One can also take a look at 15m TF, count subwaves of this last impulse subwave v and spot some divergence between 3rd and 5th subsubwaves for more precise entry. As a confirmation we have 78.6 retracement of the bullish move from 1046 low @ 1116.x and a longterm trendline from 2006 or 2008 local lows @1106-1122 area depending on what scale one use. CoT report also suggests the possibility of reversal as producers cut more then 60% of their net positions (which appears to be short) throughout this decline. Seasonality is also in favour of Gold after a New Year as the inflation picks up after a holiday/sale period. For my first entry @ 1115 I'm going to place a stop around 1107, just below previous market structure extremums. The target for this longterm trade really depends on where we are at. Either next up wave will be a wave C circled of bearish A-B-C circled correction or wave III braced of a bullish 5 wave advance. In first case wave C circled could be equal or a 1.618 v 0.618 product of wave A circled . In case of bullish wave III braced the target couldn't be set before we will see the subwaves developing. I hope it isn't the case, but keep in mind a triple zig-zag correction, which is less probable but still possible, which could take us even below 1046 lows. Anyway now we need to bounce. Trade safe, cut your losses short and let your profits run. Cheers!
OANDA:XAUUSDLong
by wayusa
7
MM-Reversal-Probability-Index [MM-RPIDX]This indicator tries to show the probability of an impending reversal. It's using a number of different input signals and candle stick patterns and conditions: 6 different moving averages Averages of moving averages MACD RSI Stochastics Keltner channels Pin bar patterns Engulfment patterns The indicator is designed as an oscillator and treats positive values as a signal for an impending bearish reversal and negative points for an impending bullish reversal. At the moment it includes 46 different conditions to calculate the overall index. The 46 conditions flow into 15 signal lines which are summarized to the overall reversal index. This indicator is not just a simple line with a couple of peaks. It’s designed to interactively work with it. It's got tons of tweaking options in the settings section. Examples of usage: Use it for primary reversal detection Use it for reversal confirmation Use it for candle stick pattern detection Use alert levels to increase/decrease the number of reversal detections Detect MACD crossings Detect Moving Average crossings on different levels Detect indecisive areas of sideway chopping Examples of conditions: is there a crossing of the MACD? are there multiple MACD crossings? are there any significant crossings of moving averages? is the market chopping sideways? are there any reversal relevant candle stick patterns? did these patterns appear inside or outside the Keltner channels? are these patterns confirmed by the subsequent candle? was there a crossing of the %K and %D line of the stochastics in the last periods? is or was the RSI in the overbought or oversold zone? ... Concept: Instead of watching 10 different signal lines of indicators and candle stick patterns simultaneously I wanted to have one indicator which aggregates all (or at least a lot of) the relevant information. So the idea was to create an index and assign a specific amount of points to specific attributes or situations (e.g MACD crossed or pin bar candle stick pattern occurred and was confirmed by the subsequent candle and was outside the Keltner channels). After gathering all the information (or points) everything is boiled down to one index. Notice: there is no holy grail in TA!
by Meunier
4