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Gold: Sequential Cup and Handle Patterns.First off, I Apologize for the cluttered chart. If I find a better way to represent the data I will do so in the future. Also, there is a lot of info on this char so you may have to zoom in and move around to soak it all in. It is looking like XAUUSD has a sequential cup and handle patterns happening. It also looks to be continuing this pattern in a Matryoshka doll fashion. The largest (yellow) has a ratio of 1.48, meaning the larger upward trend is 1.48 times bigger than its smaller downward trend. If we take this ratio and apply it to the next downward trend (green trend line) then you get the first red target bubble which was missed with the 1.48 ratio. The ratio between the green trend lines is 1.27, which means the larger upward green trend line is 1.27 times larger than the smaller downward trend line. If you take that ratio and apply it to the incomplete cup and handle pattern then you get the predicted blue circle. If you apply the first, larger ratio of the initial cup and handle pattern (yellow trend lines) then you end up with the second red target circle. The lines are drawn with similar angles. I couldn’t get the angles exact with Trading View, but they are pretty darn close and given that this is a rough prediction, I’d say they are accurate within the reason of this analysis. Also note that using Fibonacci Retracements, using the green downward trend line and using the blue downward trend, it creates overlapping 1.618 retracements. This is important as it is near the target red circles. The Target prices : Blue Circle: About 1312 May 22-May26 Second Red Circle: About 1322 May 22-May 26 perhaps even May 29, or 30 (that Mon or Tues) 1.1618 Fib Retrace: About 1333 Mid June. I am most confident about the 1312 ish range as the cup and handle pattern has fallen just short of either past 1.618 or .618 retracements indicating the trend runs out of steam early. A scenario with fundamentals would be that it hits one of the first two targets, most likely the blue target, runs out of steam shortly then news could kick in where the Fed decides not raise rates in June, which would take gold to its fib retracement levels of 1333 in Mid June. ***One more thing to help you read the chart. Red font labels are the distance and angle of the downward trends, green being the upward.
FX:XAUUSD
by KyleKeb
3
LONG CHANCE FOR USOILAB 1.618 Extension and AB=CD Strong left structure Observe the bullish price action when it retrace 42.48. There is chance to LONG USOIL at this support level. Stop loss is below 40.90, maybe 40.70. Target point is 51.00 ------------------------------------------------------------------------------------------------------------------- You can also SHORT USOIL with light position at 46.18 since it is the 1.27 Extension of AB STOP LOSS is 46.9 Target Point is 42.48
FX:USOILLong
by quantafund1979
2
$AUDCHF | High Probability Reversal @ 0.78228 | Fib Wolfe GeoHello Traders, Here I have utilized the the Wolfe Wave, Geo's Off-Set Rule, and Fib clusters. Wolfe Wave - Within the Wolfe's 1-2 and 2-3 points you must look out for an ab=cd pattern which we clearly have stated here. Points 3-4 and 4-5 are less likely to have such patterns. In fact, as a WW trader, you want the 4-5 path to be carved out as smoothly as possible. Which we also have here. The Wolfe is near completion, but this alone will not give us a complete analysis. Geo's Off-Set Rule - I have defined levels at 0.75558 and 0.71548 to clearly show where the Geo's Off-Set Targets lie. Rule 1 - If WW completes at point 5, we will look at the 1-4 line as the exit point. Rule 2 - If price hits 5', we will look at point 4, 0.71548, as the exit point. Rule 3 - If price hits 5" we will look at point 3, 0.75558, as the exit point. Fib Clusters - There are 2 Fibonacci Extensions I chose to display in this chart. The first one is the one on points 1 & 2. This gives us a maximum excursion point at which price will need to reach in order to complete the 1.618 ratio. The next Fibonacci Extension is used on the final leg down from 3-4 which gives us a 2.618 confluence zone with the previous Fib Extension. With that said, 0.78228 is the point price will need to reach in order to reverse its direction. If this pair moves quickly we may touch the 5' line defined, which would give us a high probability target of 0.71548 as an exit. If price does not reach the 5' line I still expect 0.71548 to remain a high probability target. Best, Chartistry
Short
by GWaves
2
NZDUSD: 2618 SETUP (H1)Hi there, We have a very clean 2618 setup formed on the Kiwi. Price is currently 20 pips away from the trade entry point, 0.69150. I trade 2618 setups on the H1 timeframe aggressively and have already placed a pending sell limit at this level. Remember, only trade what is in your plan, and if you don't have one, please do yourself a favour and get one before losing any more money. The 2618 trade is explained by Jason Stapleton is a free video training, you can check that out if this strategy interests you. Entry: 0.69150 Stop: 0.69760 Target 1: 0.68370 Target 2: 0.68020 Until next time. Good trading, Luke
Short
by Beebags
GBPUSD Potential CT Long up to TT ShortHey Traders, Looking Left we can see price broke those levels of support in order 1 (Most recent) to 4(Oldest) Signaling a shift in Trend. So what we can assume is that price will come back to previous support and which is now resistance and continue in new trend. We can long the Complex pull back up to resistance to Stop and Reverse to a Trend Continuation Move. Targets and stops can be made around structure, ATR whatever you trade or have tested. Like always if you have any questions, comment below, follow us on social media ! Follow us on Instagram: @thealcovefx Follow us on Periscope: @thealcovefx Follow us on Youtube: www.youtube.com
Long
by TheAlcoveFx
AUD/USD 60 min .618 Blow OutThere is a potential long opportunity on the 60 min time frame. There is a .618 retracement and 1.272 extension lining up in a nice demand zone. Price is holding around .7134 at the .50 fib level. I'm looking for price to have a False breakout to the down side right into the that .618 level. I'm looking for price to reject the drop-base-rally area at .7114-.7120. I will have stops just below the swing low around .7108. Looking to take profits around the swing high around .7182. Good luck trading.
Long
by ChrisThein