Dax ForecastD1 - Bullish trend pattern, bearish convergence, currently it looks like a correction is happening, price still has room lower towards 38.2% - 50% fibonacci retracement zone.
H4 - Bearish trend pattern, currently it looks like a pullback is happening, until the 61.8% fibonacci retracement level holds my view remains bearish here.
Invalidation - If the price breaks and holds above the 61.8% fibonacci retracement level in one straight leg then this bearish view will be invalidated.
Bullishtrendpattern
GWO Double Bottom 200SMA GWO has recently passed the 200MA on the weekly chart signalling a strong reversal in the price trend from bearish to bullish. after price showed a double bottom reversal, the price rebounded to break the resistance and cross over the 200SMA indicating a strong bullish trend. Price showed a similar pattern of a double bottom reversal crossing the 200MA in late 2011/early 2012 leading to a strong rally seeing the price increase almost 50% after breaking the resistance. the price target is 45-47.50 (35%)
Bitcoin Buy IdeaD1 - Price broke above the downtrend line.
H4 - Price has created a bullish trend pattern.
H1 - We have a bullish trend pattern in the H1 chart as well.
Currently it looks like a correction is happening in the form of a bullish flag, if the price breaks above the top of this bullish flag pattern we may then start looking for buys with more bullish evidences.
GBPUSD Buy IdeaD1 - Bullish trend pattern, currently it looks like a correction is happening.
H4 - Price has broken above the top of the triangle pattern, higher highs.
H1 - Bullish trend pattern, currently it looks like a correction is happening in the form of a bullish flag pattern, bullish hidden divergence.
If the price breaks above the top of this bullish flag pattern we may then start looking for buys with more bullish evidences.
USDCAD Buy IdeaW1 - After a triple cycle, currently it looks like a retrace is happening in the form of a range pattern.
Price has reached the 38.2% - 50% fibonacci retracement zone.
H4 - Downtrend line breakout, looks like the pullback that we are looking for happened.
H1 - Bullish trend pattern, we may now look for bullish setups with more bullish evidences in order to join the buys.
