Beyond Meet Monthly Put Options PlayGetting a few late December Puts at the strike of $60 I think we are going to trend over towards the 1.618 fib extension over the next few weeks.
1-618ext
Falling Wedge Hanging Out At Potential SupportIf we break this wedge we could go for a huge ABCD move that would take us to the 1.618. So long as we continue to hold onto this support level like we've been doing for the past few months we should expect to see this eventually break upwards.
NZDUSD: The 0.618RET and the 1.618REXTThe market soared quickly in last month, and will it move further?
The strong resistance is not far.
The 0.618RET of previous decline from 0.748 to 0.681 is at about 0.723 level.
The 1.618REXT of previous decline from 0.705 to 0.681 is at about 0.720 level.
Meanwhile a good Supply Zone works at 0.720-0.723 levels.
Additionally, the RSI will be overbought if the price go higher a little.
So it is good to sell at 0.720-0.723 levels when price action gives signals in the PRZ.
SL: above 0.725
TP1: 0.708
TP2: 0.700
TP3: 0.690 and further more
EURAUD: The 0.618RET and 1.618REXTIn the weekly chart, the market has soared quickly in the past few weeks, will it go on?
Maybe it is not because a strong resistance is near.
The 0.618RET of previous decline from Aug 2015 to Feb 2017 is at 1.545 level and the 1.618REXT of the drop from Dec 2016 to Feb 2017 is at 1.539 level.
Meanwhile the Supply Zone also works at 1.540-1.560 levels.
Additionally, the historical resistance line is at 1.553 leve.
What is more, the upper edge of equildistant channel may also a resistancel and the RSI has been overbought already.
So it is good to sell at 1.540-1.560 levels when price action gives signals in the PRZ.
SL: above 1.565
TP1: 1.477
TP2: 1.450
TP3: 1.400 and further more
Another short opportunity on GoldHey guys,
i want to share another analysis of mine on the Gold. As usual, it starts on higher timeframe. On the left hand side you can see the daily chart where i began analyzing this, and you can see price is approaching a structure level that acted as support two times in the recent times lining up with 618 retracement of the bigger impulse leg.
In addition there's a 1,27 extension of the last upward move and a 1,618 inversion of the most recent retracement.
All those levels line up pretty well, and that's why i've drawn a small box where i can search for opportunity on lower timeframe.
On the right hand side of your screen, on the 4hr chart, there's also a AB=CD pattern that's completing right in that box.
For all these reasons, i'm looking for shorting signals as soon as price enters that zone, like double tops and engulfings.
If you have any question, feel free to comment below.
Otherwise, see you in the next chart!
Nice confluence on CADJPYHey guys,
i want to share one of my today's favorite setups, which is on CADJPY. The chart explains everything but basically i've found several clues that all point in the same direction, namely long.
It's important you know i don't even start building a case for entry without structure; here we have higher timeframe structure and trading timeframe structure at the same level, that happens to be also a psychological number.
Besides, there's a Bat pattern completing right at that level and a AB=CD pattern already completed.
With all those reasons together i know i want to be on the long side of the market. But i'm waiting an additional and definitive clue in price action that can trigger my order, being a candlestick formation or a double bottom.
If you are a pattern trader you can take this as a simple Bat formation, i think this is a very good place to buy.
Good luck!
If you want to share your standpoint or even ask questions, feel free to comment below.
Otherwise, see you in the next chart!
AUDUSD:Bearish AB=CD Pattern and the 1.618EXTThe bearish AB=CD pattern has completed at 0.726 level and the 1.618EXT of AB is at 0.727 level.
Meanwhile the important resistance is also at this level.
So it is good to sell short at 0.726-0.728 levels when the price action gives signals in the PRZ.
SL:above 0.730
TP1:0.724
TP2:0.720 and further more
EURUSD:The 0.618RET and the Supply ZoneThe 0.618RET of previous drop is at 1.049 level and the 1.618EXT of previous rally is also at this level.
Meanwhile the Supply Zone is at 1.048 level.
So it is good to sell short at 1.048-1.049 levels when the price action gives signals in the PRZ.
SL:above 1.049
TP1:1.043
TP2:1.040 and further more
AUDUSD:Bearish AB=CD PatternThe bearish AB=CD pattern has completed at 0.749 level and the 1.618EXT of BC is at the same level.
Meanwhile the previous structure also works at this zone.
So it is good to sell short at 0.747-0.749 levels when price action gives signals in the PRZ.
SL:above 0.750
TP1:0.744
TP2:0.741 and further more
NGAS:Sell at 0.618RET and 1.618EXTThe 0.618RET of previous decline is at 3.04 and the 1.618EXT of previous rise is at 3.07 level.
Meanwhile the prevous structure also works at this zone.
So it is good to sell short at 3.04-3.10 levels when price action gives the bearish signals in the PRZ.
SL:above 3.15
TP1:2.80
TP2:2.68 and further more
DXY:The Monthly Potential Reversal ZoneThe DXY dropped for a long time and it rallies to the potential reversal zone which may have strong resistance.
The 0.618RET of previous decline is at 101.8 and the 1.618 of previous rise locates at the same zone.
Meanwhile the previous structure also works at this zone.
So it is good to sell at 101-104 levels when price action gives the bearish signal in the PRZ.
SL:above 105
TP1:95
TP2:92 and further more
If the PRZ is broken out,107-109 will be seen in the future.
BTCUSD:Short AgainIt is a good opportunity to short BTCUSD and reasons are as follows:
1.the 0.618RET of previous decline is at 718 level;
2.the 1.618EXT of previous rise is at 715 level;
3.the potential AB=CD is completing at 716 level;
4.the previous structure also works at this zone.
So short positions could be opened at 712-718 levels when price action is good at the PRZ.
SL:above 725
TP1:700
TP2:690 and further more
AUDCAD:Potential Bearish AB=CD Pattern and the 1.618EXTThe bearish AB=CD pattern is completing at 1.035 level and 1.618EXT of the AB is at 1.040 level.
Meanwhile the most important is that the previous structure is also at this zone.
So it is good to sell short at 1.035-1.040 levels when bearish candles appear.
SL:above 1.040
TP1:1.015
TP2:0.997 and further more
COPPER:Short by the 0.618 and 1.618EXTThe market has soared in last three weeks and the price has entered a very important zone.
The 0.618 retracement of previous decline is at 2.56 level and 1.618EXT of previous rise is also at the same level.
Meanwhile a previous structure also works at this zone.
So it is good to sell short at 2.56-2.63 levels when bearish candles appear.
SL:above 2.63
TP1:2.30
TP2:2.08 and further more
EURUSD:Bearish AB=CD Pattern and the 1.618EXTThe bearish AB=CD pattern is completing at 1.107 level and 1.618EXT of the AB is also at this level.
The 0.5 retracement of previous decline locats 1.107 level and 0.618 retracement is at 1.116,so this level will have very strong resistance.
Meanwhile the most important is that the previous structure is also at this zone.
So it is good to sell short at 1.107 levels when bearish candles appear.
SL:above 1.112
TP1:1.10
TP2:1.093 and further more
USOIL:Completed Bullish AB=CD Pattern and the 1.618EXTThe bullish AB=CD pattern has completed at 49.2 level and 1.618EXT of the AB is at 49.1 level.
Meanwhile the previous low point is also at this zone.
So it is good to buy long at 49.1-49.2 levels when bullish candles appear.
SL:below 49.0
TP1:50.3
TP2:50.9 and further more
USOIL:Potential Bearish Cypher Pattern and 1.618EXTThe potential bearish Cypher pattern is completing at 51.4 and 1.618EXT of the AB is also at this level.
Meanwhile the previous high points and structure are at this zone.
So it is good to sell short at 51.4-51.6 levels when bearish candles appear.
SL:above 51.9
TP1:50.9
TP2:50.3 and further more
