Hey Traders,
Do you see a bounce here at the former 78.6% acting support?
There is Fib convergence in this area at three layers across both the 4H and the Daily time frame.
Watching out for any consolidation or slow down at or around the 47.80 zone.
This may open the door for a move much higher to achieve a potential bullish Equal Measured Move.
Until next...
Hey Traders
Just doing a quick 20 Chart weekly review and thought this worth sharing.
Cable GBPUSD has a descending triangle formation on the 1W timeframe.
There has been a subtle consolidation on the top side of the formation forming a downward channel.
While price is stalling here I see two possible outcomes where there is a short move.
First:
If price...
Yes, I know I'm late to the party yet its worth noting in the trade journal that the recent daily support level of TSLA has been broken.
Price B/O and Pulled back to structure giving the attentive conservative trade the opportunity to get in on the action where the aggressive entry was missed!
This technical picture is opening the prospect of further bearish...
Hey Traders,
Not Your Typical 3 Drives Pattern but one to watch all the same.
We've seen price thrust lower and put in consecutive shallow 38.2 retraces moves while on the way down. This looks to represent some of the same market harmony we have seen in the past.
Purchased a small position of this coin at what looks to be a short term correction. price may...
Hey Traders,
During today's Daily Market Session we entered a small position on a potential Bearish Bat Pattern formation on the S&P 500 securities. This was identified as more of an extended Bat according to the trade plan as the C-D leg has extended beyond the .886%. The potential pattern has formed in the region of a previous Resistance zone.
Entry was @...
Hey Traders,
Fairly late spot on this one been away for the charts for a few days. During today's Weekly Market Watch identified a daily Gartley Pattern formation on the charts. This was identifired as more of an agressive Gartley ID according to the trade plan as the BC leg merley wicked the 618%.
However a valid Gartley pattern all the same!
This pattern...
Hey Traders,
During today's Weekly Market Watch identified a daily Gartley Pattern formation on the charts. Quite a deep retracement on completion of the BC leg. However a valid Gartley pattern all the same!
The pattern is forming in the region of some previous support zone structure.
Just Some Food-For-Thought
MountianGuide.
