Second trough may confirm with this current up bar. Must close as an up bar to confirm trough and entry. Lower risk entry and tighter target can be used when using this method rather than waiting for a break of the neck line.
On my watch list should set up next week. Will post update if trade taken.
See chart with neck line broken. Im already short tis pair but watching for valid sell structure to short this pair could be effective with H&S target 3% away.
just watching at this stage. break of trend line and 150ma.
Large Time frame down trend has based with aggressive break out. This current pull back looks like a good opportunity to establish long positions. Price above 150ma and at 50% retrace of last leg.
looking to sell a break of the channel. Im bearish on the higher time frame and looking for short entries.
Im looking at 3 trades short on the high time frame. Price action looks like a market top with the neck line broken on a double top. In light blue is the double top in 2005 laid over the current price action. My three trade ideas are posted on chart. Trade 1 could get to entry price this week or next and if target is hit it would cover me to take trades 2 and 3 on...
low time frame long against the trend with a head and shoulders pattern reversal. Or a break of the wedge short sell with the major trend.
looking at a long setup in usoil. the green lines are a gan swing overlay. Gan has a trading method of using a 50% counter swing equals a 100% trend swing. So from the low at 37.7 to the impulsive move up to 49.3 we then get a pull back of 50% to current price level. This is now were a counter trend signal long could be taken. Gan rules on counter trends is 1 to 4...
Goldman Sachs is warning that Australia faces a one-in-three chance of a recession in the coming financial year. The RBA has room too move rates lower and I think they will act soon. So my 6month out look for the AUD is lower. AUD got within 2% of the 50% level from the low in 2009 to high in 2013 before bouncing some 4% higher. That gives me a 5-6% move lower and...
minor lows formed in this wedge noted on chart. if price breaks I can see a break of 1900 and a target @ 1880 which would give a nice 2.4% return.
bearish on NZD with further rate cuts to come. still some 8% of major support.
noticed when played out that this can be a powerful reversal pattern that breaks support levels. risk reward is good and direction is with the higher time frame trend.
on the chart is the price action of the 2007/2008 top and the 2000/2001 top. black is the current price action. shorts at 1990 to 2000 price level look good.
just posting for records, may look for long entry's with target 3.5% above current high.