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Scottcarney

USDCAD Bearish AB=CD w/ RSIHello Harmonic Traders! I would like to begin my renewed contribution to the HTTV community with the following Bearish AB=CD Type-2 harmonic resistance at a critical juncture. The DAILY RSI is stalling at the 50-midline. The general 61.8% retest at the 1.34 level as measured from last year's peak defines the price zone for a larger downside continuation with a swing objective to the 1.28 area. Check back next week for a few new free Harmonic Trading tools that we are releasing for Trading View in 2017!
Short
by ScottCarney
1
Failed bearish Shark Pattern, Gold poised to rise further?Gold completed a bearish shark pattern in mid May 2016. Price reacted to that level. 1 month later, this level is retested and broken above. Price action in the next few weeks is very important. Any further strength, we could see Gold back at 1350 or higher. Any steep drop back below 1280 could prove the validity of this pattern and we could see Gold trading below 1280 again. Multi market analysis tells me that that Gold should go higher.
FX:XAUUSDLong
by TerryHarmonicTrading
Class II Bearish Shark Butterfly PatternA really bad Bearish Shark Butterfly Pattern . I would estimate neutral or bearish in position off of point "D". Probably until mid-afternoon tomorrow, Friday 04/15/16. At best, $6.90 before uptrend reversal. At worst, continues uptrend from "C" into $7.70, which would be awesome if I had the balls to go deep and buy to enter into this position. Could be another day for a 25% mover. Very dangerous. Point "C" is an expanding wedge, hence the uncertainty. Nevertheless it doesn't matter since my cash account cannot short this outlook and I will only be watching it at a distance. I also forgot to mention that if you look closely at 04/14/16 @ $7.40 there appears to be a subtle Double Top , and the indicators before that shows the Stochastic RSI way above 15, 80.00 signaling perhaps a late bearish pullback.
D
by BLOOBERRY