SWN is about to get see some energy. SWN bounced off support the past 2 days coming of a 'double bottom' Bat Pattern at major support which happens to also be precisely at the .618 retracement of the larger leg which is very visible on the weekly chart. This is all coupled with some very sizeable momentum divergence from the 'B' Leg swing point to where price has currently found some stabilization. There was above average volume on the support level touch which created a reversal candle. I am looking for a retest of the 'B' Point of the identified Bat Pattern.
And yes. I am terrible at catching my 'Title' errors before it's too late. Sigh.
Rally
[ SIDEWAYS ] - Fibchannel + Timefibs
Carefully adjusted fibchannel and timefibs.
Allignments of price and fib channel are marked by yellow lines (scale out to see more allignments)
0.618 - 0.764 time fibs mark a potential breakout area.
Next weeks I expect moves within the red diagonals, less volatility, smaller trend angles on downmoves, short: sideways.
So moon rally likely to start in august.
EURCAD Fibonacci and structure confluence pointing up.Technical Outlook
EUR/CAD had a long rally followed by this down channel which cloud end up as a retracement if EURCAD went up.
There is a lot of structure at 1.43482 and there is a fibonacci 3.82 level close right at 1.42677.
I can't say now what this pair will do because it depends on oil prices and fundamentals, but i expect a short term rally when price reaches 1.42677, but i will be looking for other signals like bullish divergence and/or double bottom. So there i will be looking for a counter trend opportunity.
IF ( price reaches 1.42677 and signals a loss of momentum or a bullish divergence or gives a double bottom.)
THEN (I will buy looking for some short-term profits)
Thank you for viewing and if you like my stuff please like and follow. As always good luck and till next idea!
Accumulation TimeI highly doubt its going to break the white longterm support line.
Looking to accumulate in the green triangle area.
Willy is stupid oversold and about to cross on 4h,
meaning theres a good chance its going to reverse back up.
Safest buy is definitely after break of red dotted triangle top.
Unless we fail to break out before the 9th of july,
where longterm support and resistance trendlines cross, Don't short this guys :D
Longterm support line is stronger !
Yin & YangCheck this out guys ! the mean for this cycle is around 608. thats where the triangle is closing. also price rendered around the same area above and bellow the mean. also price fell bellow the mean exactly at the halftime of the triangle ! isn't this stuff fascinating :O alltogether this "means" xD that something big is going to happen on or maybe before the 9th of july . I expect price to shoot up : ]
Triangle intersected by time fibsAnnotations on the chart. Due to the fact that such triangles often breakout after 75% - 80% completion, the 0.764 fib seems to fit great. Also the month of July will then mark the beginning of a new cycle with a rally up to 6000 (10 times the value before rally starts, so around 600)
EURCAD - Potential long setup based on support and resistance.All roads seem to be pointing to buy limit orders @ 1.4990 - 1.960. Price will likely head towards 1.5300 and turn back for the trend line and consolidate there for a bit and continue its long term rally. 1.4990 region is also a past lvl of support + 50% retracement + trendline, can anybody say confluence?
There is also an intraday short setup here as well. Price is approaching a 50% retracement in the swing high @Mar-19 and swing low @Apr-07. Bears will probably ride the reversal to the trendline for 300pips but given the overall trend bias I'll remain a bull on this pair.
Whatever happens I'm buyin' at the trendline!
