The long bull run for Cable is finally starting to loose steam. As you can see, the last higher high (HH) was formed around the 1.3950 handle (-27.00% Fibonacci Retracement). It has also broken broken out of the parallel channel by forming a bearish engulfing and closed below the 1.3875 zone. A confirmation of bearish reversal can be attained with a break of...
Eurusd is currently forming a bearish three drive or rising wedge . I expect this to stay short and test the bottom two trendlines of the channels.
Eurusd is currently forming a bearish three drive or rising wedge . I expect this to stay short and test the bottom two trendlines of the channels.
My short-term forecast for Gold predicts that it will stay below the 1900-1920's handle, as there's major resistance (4 HR, Daily, Weekly and Monthly). According to my calculation, I believe the following patterns is forming or have formed: Bearish Gartley/Bearish Flag/Head & Shoulders. I expect this to retest the mentioned zone and fall back short, however in...
As expected, Gold projected to -61.80% and retraced down to the demand zone around 1875+.
Update to my previous chartwork: I believe the overall trend for this pair is bullish bias, however there will be be a moderate retracement below the 125 handle. I left out indicators as I trade purely based off naked charts/candlestick analysis more often these days as they've been playing up to par.
The break of structure occurred around the 1875 handle. It should complete the B leg structure of Harmonics at that level after the retest and from there it should wise to place a huge sell (1000 pips) all the way to the handle 1775, where it'll complete the C leg structure. From there onwards, the move should be upwards to the 1945 handle for a gain of 1,500+...
The bullish break of structure occurred around the 137.90 handle. It's currently retesting the 137.90 handle where it's safe to place a short sell to minimum 136.385 handle. It should complete the D leg structure of Harmonics at that level and from there it should wise to place a buy, however in order for the bulls to get a stronghold it should break 139.813 handle.
I believe the overall trend for this pair is bullish bias, however there will be be a moderate retracement to and below the 124 handle. I'll keep it short on this post and let the audience do some digging on my chartwork to see if it makes sense. I based this chartwork solely off pure market movement and left out indicators. Please feel free to ask me any questions.