I’m sure some will be saying ‘double bottom’ here and pulling up their RSIs and yes their is a case for divergence here but I still wouldn’t be a buyer. I put up the 100 and 200 SMA, I don’t use them personally got nothing against them I just dont need them on a small time frame but a lot of institutional traders use them on the Daily, golden crosses, death crosses etc price is below both and I think I have to be biased by the trend which to me is bearish
But then again maybe you could make a decent argument for the bull case I just really dont know so am staying out for now
Bounced on the lower parallel, 200 pips, some central banker intervention. Will we get another retracement to short?
Dow- went long again bout 9 hours ago currently up 75 pips target is sliding parallel also all time high
AUDUSD. Hit the median line. will it hit D where AB=CD? If price clears the median line there is an 80% chance it will hit the upper parallel somewhere above 0.800
AUDNZD Retracing maybe we will get a shorting opportunity where the supply/demand area (bule rectangle) coincides with the upper parallel around 1.053
A chart pattern, not sure if it has a name but its a common one price retraces -0.217 of AB target is 1.217 afterward price usually hits 50% retracement of AB (X) before making a new high. This is on a range chart on the Dow but occurs on all time frames and instruments. I didn’t take this trade as I had to take the wife shopping… aarrgghhhh!!!
Gold hourly: price is in the PRZ of AB and previous support. I bet some brave souls are getting long here
USDJPY Weekly: Is Yen strength finally coming to an end? Strong rejection of the 76 Fib
Really need to see a new high above C on the Daily before we start getting too excited…
Possible change of behaviour underway, lets see if price can bust out of that channel and make a new high at D
Oil 4hr; Had an impulse leg AB, everything after is a correction also called a ‘complex correction’ we want to avoid trading these and just trade with the trend. Need to see price close above X and then a higher high, after that can start looking for longs I mean why try and catch falling knives in a complex correction?
Pip perfect
XAU Hourly. I went long at $1337 as it was a pip perfect touch and rejection of the 76 Fib of the AB leg
