Freeidea
gold break downthis is my analysis of what could happen today based on gold market structure gold has broken the previous 4 hour low and I now have my A and B POINTS for my fib retracement i am now waiting for c which would be at the 50 % retracement which is also at my previous low meaning support will now act ass resistance
ETH heading for retracement?Ethereum has an extended run up with no corrective wave.
Ascending wedge forming with price contracting, logically there should be a break to the downside from here - I have marked the highest level of resistance.
I will set a pending order here (risking 1-3%) and I will just hold this position for years. I think Crypto assets, like the S&P500, will just continue to increase in value over a 10 year period. We're only at the start of their growth.
Direct Line could be forming a large topDirect Line Group continues to trade within a medium term downtrend. In the last couple of sessions we have seen a rejection at the medium term trend resistance line and also the top of a range that has developed over the past few months.
This rejection is likely to trigger a move to the lower end of the channel at 332p.
332p is a huge support level that has held since July 2015. If this breaks to the downside, then I would expect to see a sharp move lower as large top pattern completes.
The shares rank towards the bottom of my fundamental model, scoring poorly on growth and profitability metrics.
My trade today is to sell on the open.
Target 1 is for a move to the bottom of the range at 332p, then if this breaks look for a move towards 245p over the medium term.
Stop loss on the trade is at 374p