Basic head and shoulder in play adding the average length from head to neckline to the breakout (pink line) to determine my target.
Head and Shoulder Lower Highs Price Action on 78% Bearish Engulfing
Price currently on 61% in confluence with the 3rd trendline test on the weekly/daily Bullish Engulfing on the 4HR Inverse head and shoulder with ABCD in play Targeting 3 length breakouts measured by the head to neckline of the crown patern Target 1 fib D extension, -1.27% .... Target 2 -1.618% Target 3 supply zone / 3rd range break to the upside
With the ABCD fib pattern on the daily im targetting 128 after a strong monthly trendline and confluence area dating back from August 2008 has been breached alongside a monthly kumo breakout
Apologies for repeating this post my chart didn't come out properly but still the same analyses on AUD/USD 4HR Monthly support broken now historically finding a previous floor with 2 targets in mind. First is the daily fib 3.618 retracement 2nd the next level down which is also the length added from its average range and confluence with a monthly support. Lower...
Been in and out this long term trade over the last couple of weeks and looking for another possibly on the descending trendline. I believe there is still a lot more dropping to do after a top down analyse from the monthly to the 4hr . With lower lows and highs still in play and recently a monthly support now broken im targeting the next fib and monthly support...
On its way up after a retest continuation and a bullish engulfing at support which is also in confluence with the weekly.
After a trend line break to the downside we now see lower highs still in play on the daily and yet to make a new swing low. Cable still in a box range with a couple false breakouts awaiting next range drop (Pink Lines) to my next target the 1.618 fib extension once price breaks from current confluence (Blue square) A retest to the daily and weekly trend line...
With a bearish engulfing confirming reversal on the daily and a pull back to theT.L confirming a lower low and a possible shooting star formation the 4hr is looking promising for a drop down to 88.327 in between the 38% and 50% retracment and above a previous demand zone for a safer exit. After a shooting star on the 4hr and forming lower highs and lower lows ...
- Kumo Breakout on the weekly - Falling Wedge on the Weekly /Daily - Daily , Double Top confirming trend reversal - Daily Trend line broken - TK Cross over - Bearish Divergence - Falling wedge pattern, lower highs to the downside in confluence with key daily fib level
Been keeping an eye on Wall Street as its reached an all time high with price rejecting it. After a bearish engulfing on the weekly we can now see a rally down back to the 16,000. With Fib C in place on a previous demand & supply area where the market has produced engulfing candles in the past this is an important area of confluence if you zoom in for P.A on the...