Platinum is showing several signs of a peak to place a short with good risk/reward. The CCI is now re entering below 100 after travelling on a highly overbought region. Also, this peak coincides with the upper 0,5 line of the pitchfork. A first target on the lower 0,5 line around the same line of the 0,5 fib. Thanks for your comments.
Let me know what you think
The pacific currencies are relatively stronrger than the others lately, in a trend that is expected to continue into the near future. NZD/CAD is one of my top candidates since it is traded in low price levels, and after a downside move that show signs of termination and reversal. According to the Matrix price should keep moving forward towards the major resistance...
Daily Support USDJPY Long on Double Top with RSI Divergence
Hey guys! Found both a Head and Shoulders pattern and a Double Top Pattern here! This could mean a really good short in the market! You guys can play it safe, and enter after the double top has broken through and retested the support ,or you can be more aggressive and just enter right now, since the Head and Shoulders pattern is having a retracement! ACT FAST!...
I looking for price action about 0.70500 zone, maybe a pinbar on beeb bearish outside bar. Potential triple top on daily.
After last week's surprise drop in the GBPJPY for me, a new opportunity has opened up! A double top has formed right about here! and the Weekly candle the previous week has closed, creating what seems to be a large Bearish Engulfing Pattern covering the previous 3 weeks! Weekly Chart: Furthermore, price on the Daily has rebounded off a major resistance,...
The set-up isn't there yet, but it may come soon and the success odds of at least a break even trade (setting stop to break even after price moves 1 or 2 stop levels in favor of the trade) are better than 1 to 1, IMO. Stop above major resistance, targeting major support.
Hey gang! Found quite a high probability Double Top right here on the Daily Chart! 1.46664 Major Resistance level has held and a bearish bar has come! What influenced my decision: 1) Weekly chart shows a downtrend I will only take trades that follow the general trend. 2) Price retracement has reached the previous low of the impulse wave on the Weekly Chart...
Failed to maintain support, Failed to break resistance (triple top)
Hey guys! Its been a while :) found a double top pattern on the NZDUSD yet again! Trade below the neckline! Don't sell before it! Let me know what you think! Good luck everyone! :)
Ghartly Patter with RSI Divergence and Double Top
Nice top forming at Mid American Apartments - MAA - weekly - daily. Will be in my watchlist waiting for downwards move to confirmation line.
Hey guys! NZDUSD has been retracing and it has retested a big trendline's resistance and the Double Top pattern that I found a few days earlier! This means it might be a good short should it rebound! Currently waiting for the 4H candlestick to show a rebound before I enter! Good luck guys! For those wanting to see the retracement happening on the Hourly chart:
Here's a look at a "mega" weekly pitchfork and major price pivots. The way I drew it, price has recently reacted to the median line, with highs reaching just above the 0.625 pitchfork level (each line is a 0.125 increment of a pitchfork). Of course, this isn't really a valid pitchfork, since prices have never reached the 1.0 level in the first place to create...