McQuant

McQuant

Though the Cable is in uptrend I believe some major correction could appear within next (two) weeks. I can see price is in negative divergence with oscillator, recently bounced from top of the channel and next significant support level is around 1,6270. So I'm about to go short with 1.6270 as profit level. As this is counter trend trade I'll move SL to BE asap. RR...

McQuant

This currently emerging harmonic pattern is finding its C point. So unless 102.54/38.2 won't hold price could experience way up to 61.8/78.6 or even 88.6 depends on momentum next week. So my primary trading plan is to go long once price touch the rising trend line and bounce. With that being said in case trend line is broken down I'm going short (with oscillator...

McQuant

Major resistance has been touched and negative divergence exists on oscillator. This pair could possibly go down. My TP1 level is at 101. But I'd like to see deeper downside move to somewhere around 101,92 (TP2).

McQuant

Doji with negative divergence, usually sign of reversal. Shorting this with profit target at 101.20

McQuant

This (highlighted) doji candlestick could reverse bullish trend or at lest make some pullback. So going short from here have next support at around 100.74.

McQuant

This Bullish Gartley is at you service. Long position could have profit target somewhere around 0.90500.

McQuant

I'm awaiting falling wedge breakout from wedge upside which could take price at least somewhere around 1340 (TP1)

McQuant

This is possible scenario how the gold will move next. When it comes to harmonic patterns in price action prediction we can see that Bearish Butterfly could fit well. So if B point (1330) holds and C point will be confirmed (either at 38.2 1274 or deeper at 50, 61.8, 78.6 or 88.6 retracement), price could go higher up to 1438. 38.2 is very likely future C point...

McQuant

Short at significant resistance level

McQuant

Price has reached significant resistance around 1320. CCI is recently pretty overbought for some time and CCI is declining below +100 and is heading further down. We can also see ascending triangle to be formed at significant resistance level. In case resistance level at 1320 will hold we could see price decline down. However we should take into the account that...

McQuant

See description on the chart.

McQuant

With RSI deep in oversold area we can expect some up move. 1st tp level at 1250.25

McQuant

Price is in bullish divergence with CCI and has just approached at S3 monthly pivot point support. This could work as oppty to go long for some few tens of pips of possible correction at least or could also work as significant reversal point. With that being said divergences does not work always, though it's nice setup so I'm about to keep watching this pair next week.

McQuant

I can see an oppty for going short though it would be counter trend trade. The reasons: - rising wedge in uptrend - slow stochastic is in deep overbought zone - possible divergence between price and stochastic oscillator

McQuant

Some bearish harmonic pattern is emerging on this pair. CD leg seems to be forming. Going long now I'd target 1.08793 which is potential D point of BE Gartley.

McQuant

I'd expect price action will reach 1.618/3.618 fibo expansion level which would eventually form Bearish Crab. After that we could see some price decline.

McQuant

Couple of pips are missing to emerge that pattern. Once price will reach 2.618 expansion level we could see price heading down for some small retracement. This is counter trend pattern so be careful here.

McQuant

I like this gravestone doji candlestick pattern that has formed on weekly chart. In addition it appears on significant resistance level from half of 2007, at 38.2% retracement and is also enhanced with RSI divergence. Looking bearish.