Completion of a 5 wave structure (Daily), now looking for a possible 3 wave correction.
The perfect butterfly is defined by the .786 retracement of move A B with respect to move X A. B C is .886 of move AB C D is 1.27 extension of XA although a 1.618 extension of XA is possible and would take to previous high structure. Some good potential pips to be gained here Good luck and please, if you agree hit that agree button to let me know
Currently consolidating after its impulse move break so could well be one to watch, we have some structure at point D to strengthen the case. Look for short positions at point D as always stop above point X
Potential inverse head & shoulders bottom pattern. The trade idea here would be to wait for consolidation after the neckline break for a long position
Potential for A bearish cypher pattern, start looking for short positions @ point D. Not a great deal of structure to confirm the potential. As always stops above point X
Could be a possible short on here with a bearish cypher pattern, point D also around the area of trend line with bearish divergences.........................if you have the nerve
Simple ABCD pattern where you could sell at point D & stops could be placed at previous structure levels A retrace of .786 from the A to D move would form the point D of a bullish Cypher pattern
My current views on the FTSE 100 Potential short @ 6150 area
Would like to hear others opinions on this as I am still very much an amateur at this game. Will be keeping an eye on this pair as we have the potential for a reversal if the trend line from 2009 holds, divergences so far strengthening the bull case in my opinion. Will be looking for further buy signals. Thank you for looking and any input appreciated.
Potential bearish bat pattern on intraday chart Look for short positions @ point D .7245 Stop above point X @ .7260 Just a view from an amateur
Look for short @ cypher point D & trend line @ 6145
Trend line break will give possibility of fall to lower trend line. Potential Cypher also in play. Just a view from an amateur. Constructive criticism welcome
Would like to hear other opinions for their WTI forecast. Just a view from an amateur so constructive criticism welcome.
Sell neck line break with 2.0478 & 2.0350 target, possible 1.9700
Over all looks like a Bullish butterfly on the higher time frames, within the right wing we have further Harmonic patterns in the lower time frames