TBH first time ever trading silver, heard a lot and it looked promising. so after 2 hrs staring at weekly and daily and hr time frames, I was able to form this. predicting that price might continue the long trend or retest the drawn arrows and either break structure to a NL or continue up after correction. I'll be placing a sell limit @27.475 with a small SL...
Closing triangle pattern could indicate a breakout shortly. Currently the ROC & MACD Oscillators are indicating the same pattern as the price trend (upwards), therefore convergence...a buy signal. MACD line cross above the Signal line as well as the ROC point upward are both buy signals. Let's see how this over night trade would play out. This is just charting...
Hello! I've been practicing Eliott Waves and in my opinion we are currently in front of a big level 3 wave which will hit the target at 382 fib res lines. There will be profit taking there as we go back to test the 0,5 fib level and bounce for a big 5th wave at 236 fib. I think this is a very good risk/reward ration, setting the stop/loss a little bit under the...
Was just testing to see if I could find another head and shoulders pattern on the usd/jpy pair. See if the trade idea is valid.
This bearish has a B point might that make it invalid, however the candle does close below the .525 ratio so it could also be valid. There is also resistance at 135.7. The stop loss will above the X leg. Risk 100 pips for about 340 pips max for this pattern. Lets see how this plays out.