Cadchf looks to be on wave 3. Broke the 1.618 extension. It is at a pitchfork and looks like it is in the process of making an ending diagonal. If it pulls down should be a corrective move. A wave 4 retrace should be to 23-28% fib but it certainly wouldn't move in a straight line. It can also go into an ending diagonal of a larger degree, so understand this. But...
Ralph Elliot speaking from beyond the grave.... Typically speaking, wave 4 retraces 23-38%. We are on an extended wave 5 of wave 3. Those 2 rectangles are measurements: 1.618 x wave 1, 2.618 x wave 1. Wave 3 typically terminates around 1.618 wave 1 (watch that 3000 area. It may not even reach it, but if it did and hit the top of the 2.618 box, that's a sell all...
Spotify... the newest streaming music service to hit the NYSE via a nontraditional IPO I have no fundamental analysis on this besides that they have a student subscription program that will 'hook' the next generation and a partnership with Hulu to incentivize membership gains. Looks like we have made a clean break of a wedge here; can we test the 1.618...
After Fridays NFP gold reached a h4 support, after creating a pinbar at important level i had entered in trade
I marked few important price actions. First harmonic formation appeared at the end of the March. There is a rule where 61.8% retracement is corresponding with 1.618% and 32.8% retracement is corresponding with 1.328% which gives us perfect ABCD formation where AB = CD. Another signal for further bullish movement is fact that pair is trading below 200 EMA. I...
Reason to entry: -Butterfly pattern -Flag pattern as consolidation before moving up -Butterfly 161.8 completion at retest of previous structure -161.8 completion at strong support lvl -Fibonacci Confluence (2) at 161.8 completion -Wait for RSI and candle confirmation Entry: -127.2 butterfly completion, or.. -161.8 butterfly completion Exit: -61.8% retracement of...
Gold is about to finish an ABCD Pattern and reaching the Downtrend trendline right on the 1618 fibs ext with a confluence of the 61.8. We can see a retest of the low before a big move up.
In case you trade harmonics and don't bother a risk above 50 pips, this might be an interesting trade setup for you. Pair is pulling a harmonic move to the upside and might reach 1618 Fib extension, which will align with previous level of structure looking left. Pretty decent Risk Reward ratio on this trade. We are not getting involved because the trade violates...
Potential Bearish Opportunity Sell Audusd 1618 extension + bat pattern + 61.8 retrenchment
AB=CD Pattern with massive Feb Confluence 38.2 and ex 1618 at same point with RSI divergence
Here we see a developing Bat pattern in a triangle or wedge pattern. we know that wedges generally rally out at 3/4 of the triangle, be it up or down. So what we should expect to see happen here is that the market will rally down into previous structure around the 1.618 extension of the AB leg. when the market does so, it will complete the bat pattern...
I see a Bat pattern in the AUD/JPY 30 min chart, around the 96.810 area. The market here seems to be in an uptrend, so it isn't bad to assume that the market could break out of consolidation and continue trend. But I believe since the market will be testing highs for the year, the market will complete the pattern and reverse down into the 1.618 extension of the...
This Gartley pattern formed at the end of consolidation suggests a long movement from a monthly low. if there is a break out of consolidation , the market will likely rally up into the 1.618 extension of the BC leg, around 1.45530. i have placed my order long keeping the risk reward ratio at 2:1. I have placed my stop at the lowest low of the Gartley pattern, and...