Harmonics (dashed blue lines) in conjunction with a sweet Fibonacci cluster line up at a previous significant resistance level (now should be support). Alert set on buy zone to look for opportunities to jump in. Stop loss level will be defined accordingly.
I'll set a "sell stop order" to trade the possible flag breakout to the downside.
Nice confluence of a potential bearish Butterfly's D point with a structure already broken to downside (which is also a Fibonacci cluster level)
Given the huge amount of "open space" in between the most recent broken structure and the next support level, if the price doesn't fall straight to final target zone I' m going to wait for a retracement into one of the 2 hot price levels defined by significant structures broken to the downside. The two scenarios are depicted by dash lines. I've set alerts on both...
In case of a deeper price rally into the red area on the chart, we will have a bearish Gartley completion level, a fibonacci cluster zone and a retest of a broken structure to the downside: this confluence triggers a sell.
Still waiting to get involved shortside on thi pair since the last published idea (reported on related). At this time, another potential pattern (bearish Gartley) could be used as a reason for entry in confluence with a 50% Fib retracement of the most significant swing long that broke trendline on 8th Jan 2016. Wait and see if Gartley plays out. Targets on the chart
Uptrend + possible bullish Bat pattern completing at structure + confluence of 38.2% Fib retracement -> I'm bull again!
An ABCD corrective move could end up at a significant daily resistance. Bullish Gartley potentially retesting the upper band of an already broken descending channel could be use as buy entry level to ride the BC leg of the entire "big" correction.
If price doesn't skyrocket to the first relevant structure to the upside, I'm buying according with the notes on the chart.
In this strong downtrend a broken structure to the downside became a resitence. Price is retesting this area which is also a Fib retracement level. Think this is a nice opportunity to sell and ride the move. As target 2 the use of harmonics (dashed red segment) could help to figure out where price should take a breath.
Here's some significant structure levels. The buy zone which is in a support/resistance zone shows also a confluence of Fibonacci's retracement ratios.
Previous idea posted on Silver (reported in related) played out well. Now I'm looking for a possible breakout to the downside of this messy consolidation price action. There is enough room for the price to head south and hit the lower trendline of a weekly falling wedge formation.
Rounding top formation is developing for S&P 500. Even if a bullish Bat is nearly complete, given the recent strong momentum to the downside I would rather prefer to wait for a retracement to a significat structure level and get involved short. If price break below the rounding top neckline we may see the beginning of bear market.
This pair is in a such strong downtrend. Here's an idea on how to get involved, looking for continuation south. Still too early to take any actions. Just wait and see if price action will play out this ideal setup.
Idea posted before Christmas holidays posted at is still valid. Price is now approaching a daily resistance level in conjunction with a bearish butterfly pattern completion.
Well established downtrend is now consolidating. I'm going to wait for a possible support trendline breaking to get involved short. As target I'ill pick bullish butterfly completion point (confluence with a significant static support level)
Silver is in consolidation. Leading direction is still downside so it's better to get involved in short position. Sell if price complete the bearish Gartley which could be very next to upper "consolidation" trendline and .618 fib retracement of the beginning consolidation swing. Potential Reversal Zone in the chart
Amazing harmonic moves for this pair show where price could heading to. Last harmonic shows an interesting confluence with a major weekly resistance. Wait for retest of the recent broken structure to get involved short. Stop and reverse at significant weekly resistance.