Hi traders! As we wrap up another week, we have a nice Gartley forming on GBP/USD. If this plays out it should be some time next week looking for longs off the 886. We have some nice confluence around that price with extensions and price symmetry. Keep on eye early next week to see if this holds true.
Watching to see if this Butterfly pattern will complete. This is the D chart so could take some time. In addition we need to clear the previous high. Looking back on the weekly chart we are up at some all time highs, so if we clear the previous high then we will be watching the 1272 completion zone as possible reversal. Keep in mind the Holiday is next week and...
Recapping the close yesterday and watching for this 4hr cypher on USDCHF into next week. Looking for a possible double top or failed retest before a move lower if this is to play out. As long as the X point is not violated this could be a nice move to the downside.
Nice 2hr gartley pattern formed on ES in the afternoon session. Tracking down to the 15m timeframe you also have RSI divergence with price pushing lower but RSI making higher lows. In addition RSI was oversold.
On the 2hr we also had the 200 EMA as additional support right at the completion of the Gartley. I would expect a small move up about 8 points to the...
Looking at this potential long opportunity in GBPUSD on a Cypher pattern forming. We have been trending down, retraced up with an ABC pattern and now continuing back down to test the lows. In checking our rations the cypher looks like it is forming into next week. However keep in mind that is pre Christmas week so volume may become lower.
