From the U-MLH, pullback down and up again, to bang the head at the A/R.
And for classic pattern recognition lovers, we also see kind a H&S.
From the U-MLH, we have a great chance that price comes down to the Centerline, as "Timing Is Key" found in the old documentaries from Andrews himself.
P!
For those of you who like to evolve in Trading and are interested...
Here are the key points for this chart of EURSEK:
- Trend. Based on the blue pitchfork I find the trend still UP, albeit suffering from a severe correction.
- Support. The falling price has found support on the 50% retracement (9.36575), which happened to be just above the prior high (9.35238) and a bit below 161.8% of the prior down swing's range size. The range...
For today will focus on European Central Bank (ECB) Governor Mario Draghi's speech this afternoon.
Draghi's last attempt to talk up the prospect of further easing at the ECB’s March meeting had the unusual effect of sending the euro higher.
the support is located at 1.1230, where the current short-term bullish trend line is, along with the previous highs.
If broken, the next target for bears should be at $1.11.
The resistances are located at 1.13 and 1.1360 for the next week.
Euro-dollar, the rise will continue in the long term?
Personally I do not believe that the euro-dollar will maintain the rise in long-term and already provides a euro-dollar down with the approach of the ECB meeting on March 10 next.
If, however, the euro-dollar exchange rate could remain at current levels or even go up, the probability of strong monetary easing...
The price has meandered down to test and fail at the 61.8 fib level (0.70031) which is coupled with a level of support found at 0.69908. I see signs of a newly formed ABC formation which could lead to the possibility of point D being formed at the 161.80 fib extension (0.7345 - Target 3 I am using the andrews pitchfork tool to illustrates how the price will...
Have this set up with pitchfork & Trend lines literally in sync with each other. Potential is thousands of pips considering this is a weekly chart.
THOUGHTS ANYONE???
All other investors will continue to monitor oil prices that managed to close Tuesdays session higher, but are sliding on Wednesday as crude inventories in the US rose much more than expected.
The sentiment could also be influenced by the Fed's gathering that will conclude later in the day, with investors awaiting the bank's fresh view on the state of the US and...
Investors will continue to monitor oil prices that managed to close Tuesday's session higher, but are sliding on Wednesday as crude inventories in the US rose much more than expected
the sentiment could also be influenced by the Fed's gathering that will conclude later in the day, with investors awaiting the bank's fresh view on the state of the US and global economy
HA candles to make the PA clearer.
PA is in clean downward pitchfork and is nicely oscillating between the upper and lower areas. PA is about to cross the Ichi cloud which could be the start of a short trade. However the lagging span still has some layers to go through before being free. This could occur within the blue ellipse area.
Note the lower support...
The cross area between all the trendlines in my opinion could offer a nice long entry with a stop loss below the blue horizontal line and a first target at the 131 area.
I am still waiting for price to unfold and see the closes of the candles.
Good luck!
The right shoulder is not complete yet but I expect it to be a double top before it moves to 1.08234 which is a neckline area which coincide with the daily S2 support and Fibonacci extension of 1.414. On the way down to this support ,I expect a bounce at the 1.8077 - 1.8084 area before a short lived rally to the daily pivot of 1.0912 and after which I expect it to...
![USOIL: USOIL no channel break [SHORT]](https://s3.tradingview.com/m/mPyRKxsg_mid.png "USOIL no channel break [SHORT]")
