XAUUSD - Pullback before another new high??FOREXCOM:XAUUSD had a fairly decent rally last week running into the 1.27% extension Butterfly level of 2192.
Now i'm looking for a retracement to Buy looking for the next move higher towards 2250 where we have 2 1.618% EXT levels to watch.
Wednesday we do have the US Interest Rate decision which will move the market some more, so until then there might be some consolidation.
Larger and smaller TF charts to follow.
Enjoy the week.
1618 Fibonacci Extension
Gold Gartley 222, AB=CD from 78% retracementThe pin bar was a reaction from the 78% Fib retracement and also an equal 1 to 1 AB=CD, but now let's see whether there will be a follow-up and price confirmation for long. This level is also a 61% retracement of the bigger swing up so a confluence point. For now, I don't see a definite entry signal unless I want to buy the level which I often do at the higher timeframes.
The risk to reward shown is what will be the target if you pick the 161% extension for a target.
TX Swap Attempting Tweezer Bottom at 1.618 Fibonacci ExtensionTX Swap after breaking out of a Falling Wedge pattern now finds itself attempting to confirm a Tweezer Bottom Break-Hook-Go with Bullish Divergence at the 1.618 Fibonacci Extension with elevated volume. If this turns around from here, I think the upside move could be quite dramatic.
DOW - At ATH's 38k next Target. BLACKBULL:US30 is sitting at the top of the move with what is looking like one more move higher into 38k before we see a decent retracement.
In the smaller TFs there is a pattern setting up giving us potential upside targets.
I go into more details of these levels to watch in my group.
Once the high comes in we look at the retracement to see if its going to be bullish or bearish. But first we need a top, then we can go from there.
I hope this helps. Enjoy the week.
American Homes 4 Rent: Monthly 3 Black Crows Channel BreakdownAMH has confirmed 3 Black Crows on the Monthly Timeframe and has cracked below an ascending channel and the 21SMA. I expect that we will get severe follow-through as both the Rental Sector and the Real Estate Industry in general continue their decline into the higher interest rate environment.
AmerisourceBergen Corporation: Bearish 3 Drives 1.618 Entry #2I entered a bearish position on ABC at the 2.618/1.272 confluence zone a bit ago and since then it's gone up to the 1.618 of this 3 Drives pattern. I think it will be worth entering one last time as we are on the way to confirming a Bearish Harami at these levels, which would later result in Bearish Divergence on the weekly if it begins to play out.
Natural Gas: 1.618 Confluence Support Zone Has Held Natural Gas was trading at this Log/Linear 1.618 Confluence Zone for a while and even confirmed a 3 white soldiers pattern from the zone, but has since been very quiet. However, it's recently begun to bring us somewhat of a bounce and has confirmed a couple of higher lows with some hidden Bullish Divergence on the MACD after holding above the Bullish Control Zone on the RSI and now it's looking to make some higher highs and could take back the entire range.
It should also be noted that this 1.618 confluence zone is at the PCZ of a 1.13 Bullish Shark.
Remark Holdings: Monthly Logscale ABCD with Bullish DivergenceRemark Holdings is sitting at a Logscale 1.618 Fibonacci Extension and an AB=CD PCZ while showing a big amount of MACD Bullish Divergence on the Monthly Timeframe and it would seem it's eventual Bullish Target would be a minimum of HKEX:151 to go back to C.
BOIL: Piercing Line Bullish Reversal Visible on Weekly at 1.618BOIL; The 3x Bullish proxy for Natural Gas is showing Bullish Divergence at a 1.618 Fibonacci Extension after confirming a Piercing Line on the Weekly Timeframe at said level.
If it plays out i think BOIL could come back up to fill some gaps, meet the moving averages, and see anywhere from a 200%-700% rise.
I do however think USOIL will see a decline and that the two will move in opposing directions for awhile as that is something that they they tend to do.
As a side note we also have a Daily Bullish 3 White Soldiers on Natural Gas itself as well as a Bullish Shark that can be seen here:
NATURALGAS: 3 White Soldiers at Bullish Shark PCZAt the start of the year Natural Gas had a potential Bullish Shark setup at the minimum .886 PCZ and it ultimately failed to pivot from there but now we are significantly lower at the 1.13/1.618 Confluence zone of this Shark and are showing Bullish Divergence on the MACD as well as a 3 White Soldiers pattern on the daily. The bullish Target for Natural Gas remains to be $4.5 but it could go as high as $9.00. As for stops i'd put it below the second candle of the 3 White Soldiers Pattern which should be below the PCZ.
EURUSD - A move higher firstOANDA:EURUSD is edging higher towards the upside target around 1.07000.
A move back to 1.0520-1.0540 would be a low risk opportunity to go long.
At the upside target there are a lot of pattern completions, this would bring the DXY down as well before it heads higher towards its upside target of 121.
Enjoy the day.
Matterport Going Down to Zero in the Coming WeeksOk so Zero is a bit of an exaggeration but it is on track to breaking down to a minimum of 4 dollars and 77 cents (aka the 1.618 Fibonacci extension) if it breaks the support of $10.50 and the likelihood of support holding here is very small.
I would stay far away from buying this stock as it's just not worth it to me.
CRVIDK looks super strong, we entered long at $3.63 in my group and I also told all my twitter followers to buy around $4. I think $5.90-$6.30 is a good spot to close for ST profits W3 but $7 plus or 1.618 fib extension could do it as well. Kinda thinking with $54-$58k BTC and sub 40% BTCD alts can take off soon. GL guys.
sp500recent bounce seems too high vs the ATH for this move to be an ABC but it is still possible that ABC can happen, but after doing EW analysis on 4H I see a new pattern emerging and we can remain strong above the 1.618 fib extension then chances are 2.618% fib lvl will be tested for the final W5 larger HTF move 2.618 around 5,700
USOILThat's a bottom for me on crude, possible downside to $58 as daily stoch rsi looks overbought but the bulls can easily keep the LTF overbought long enough to make a stronger push back up to ATH, then allow for a higher high on the LTF b4 finally capitulating up to the W5 1.618 fib extension target $108.