Silver ShortsSilver is currently holding its descending channel. At the current moment price is stuck in a corrective structure so we will watch for an impulse to the downside.
Flags
GBPJPY - HEAD AND SHOULDERSWe have spotted a H/S Pattern developing on this pair. We are currently short.
Entry Reasons: Break of the Flag pattern formation on the 1H and AB=CD Pattern which will give an equal move to the downside.
We will be looking to add a position at the break of the H/S neckline.
Levels: Entry 1 (Flag / AB=CD) - 143.513. Stoploss: 144.786. Take Profit: 141.250 or alternatively 137.150
Entry 2 (H/S) - 142.708. Stoploss: 144.000. Take Profit: 135.150
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Stalking EURGBP For A SellPrice is in the C-leg of a Gartley Pattern which can continue to develop. At the moment, I'm only looking for a sell setup to complete the potential Gartley Pattern or to complete the X-wave in the w-x-y-x-z sequence.
I would want price to give a confirmation for the buy trade at the completion of the Gartley Pattern before I will be interested.
Trade with care. Use a strategy you have tested and verified.
6.1.8. Family.
More Than Just Trading.
BAC next stop 23.45?Since we keep moving higher I identified a flag pattern on the daily and 4H chart. Now we are breaking out of it and the next move should be equal to the flag pole which ends at 23.45. Personally I don't trade that kind of pattern but maybe someone of you guys out there is looking for some short to medium term targets to take profits. I am still looking for 27.50 longterm though (see previous post)
Educational 07: Flag and Pennant PatternsThese are continuation trend pattern that are found frequently in the markets. I wanted to cover it and share it with you as I found some good charts during my research that are forming such patterns. One of them is Aban 2.41% offshore, chart link attested below. (I have also provided some examples given in comments box below for your references and goodself.)
There are 3 important things to note:
1. The Initial Impulse (Flag Pole)
2. The retracement (Actual Flag or Pennant)
3. The Measured Move (an equal reaction swing to the pole)
These factors conclude to the formation of Flag and pennant patterns. They are easy to identify and provide high potential returns.
Comment below your questions regarding the same to improve your and other traders understanding of the patterns by providing examples and any explanations if required.
Thanks for the support,
With Regards,
Upward MovementResistance at $2.16 -- Building a base with difficult upward movement. Jump up in 2 - 5 market days.
xauusd longHello Traders , please click on all the pinned charts to see how it is possible to use wave analysis to forecast the charts.
Long on breakout of downward channelIn general I am bearish on oil, however if we breakout of this short term downward flag, I'd be interested in buying any retest of the top of the channel. I will only go long if we breakout and confirm above the channel.
FISV in a comfortable uptrendFISV gapped up on the daily chart on 29 October on higher volume, but the breakout bar was bearish. However, the previous resistance had already been broken and the breakout held so the move up can be considered stable.
On the weekly chart a flag with a doji base also gives momentum to the upside a boost. The 50ma acted as support on the recent pullback (which was a little deeper than usual for this chart) along with the figure 60.
This may provide an opportunity to buy on the next breakout for Dynamic Traders.
