Ending diagonal pattern - forex gold trading signals free

Ending diagonal pattern ~ forex gold trading signals free

Fibonacci Chart Patterns

Fibonacci extension level

4 hour Fibonacci extension levels

On the 4 hour chart (left) we see that the 100 % fib extension from A-B at C and the weekly S2 provided support and the Euro returned sharply from this level.

The hourly chart below shows that the Euro formed an ending diagonal (wave C-D) after the termination of the impulsive A-B wave plus the succeeding correction wave up to point C.

The last wave of the ending diagonal (e) penetrated the weekly S2 and the 100 % fib extension (red line) (no confirmation) before the Euro turned around sharply and immediately moved up to the initial price target at point C-blue line (beginning of the ending diagonal).

1 hour Elliott wave theory, ending diagonal pattern

5 min Ending diagonal pattern

100 % fib extension

On the 5 min chart we see that the Euro moved up sharply after reaching the support zone at the 100 % fib extension (red line) and that market ignored all resistance levels in between to move directly to the initial price target (beginning of the diagonal). This price behaviour is typical after a pattern terminated, particularly an ending diagonal (directional move). In the following market found support at the 100 % fib extension of A-B at C and resistance at the 100 % fib extension of D-E at F plus the weekly S1.

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Eurusd Intra day Update - surefire-forex-trading.com review

Eurusd Intra day Update ~ surefire-forex-trading.com review

On 20th November and  24th November I posted a long term analysis and the resultant intra day analysis respectively and it took price a while before reacting to my bearish call.

The bearish targets still remain 1.2150 - 1.8850.

I have a new intraday wave count which support the bearish move

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Flag patterns Pennants Ledges - download forex signals auto trading ea

Flag patterns Pennants Ledges ~ download forex signals auto trading ea

Continuation Trading Chart Patterns

Trading Flag patterns, Pennants and Ledges

EUR/USD

4 hour  Chart Pattern/ Analysis

 continued its downtrend today in the beginning of the European trading session with the triggering of the Head and Shoulders pattern on the 5 min chart, which occurred at the daily R1 and the 20 SMA on the 4 hour chart after clearing the stops above the consolidation high.

On the 5 min chart we see many Continuation chart patterns (Flag patterns, Pennants, Ledges - see green circles), which got triggered and market resumed its downward trend. Very often the EUR/USD made attempts to renew its downtrend with the beginning of the new trading hour for a true or false break of support, frequently after closing at support level  e.g. 8 a.m., 9 a.m. 11 a.m. 1 p.m. and vise versa for the uptrend at 3 p.m. and 5 p.m. (see red circles on hourly chart - Breakout Timing).
The Consolidation pattern between 11 a.m. and 12:20 p.m. GMT can be seen as a bear flag of the recent impulsive downward move from 10 a.m. to 11 a.m. (5 min chart).

The daily Pivot point changed its role from support to resistance after the break of this level 8:45 a.m. (see 5 min chart).

The Euro found some support at the Fibonacci Cluster at around 1.2692, the 61.80 % Fibonacci Extension of the recent 4-hour swing down and the 100 % Fibonacci Extension level on the 5 min chart. From there, market leveled off.

1 hour Continuation Chart Patterns Analysis

5 min Continuation Chart Patterns (Flag patterns, Pennants, Ledges)

 

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Candlestick Patterns Hammer - 100 accurate forex trading signals

Candlestick Patterns Hammer ~ 100 accurate forex trading signals

Price Reversal

Hammer Candlestick

1 hour Candlestick Patterns Hammer, Price Reversal

Candlestick Chart pattern

The Euro had a relatively quite session again today. Market price broke out of yesterdays consolidation pattern with the beginning of the new daily candle (Breakout trading) and the Euro made a new daily low but market hold at the daily S2 support.

At 10 a.m. the Euro created a hammer candlestick pattern and EUR/USD market price started to move upwards.

The three consecutive lows from 4 a.m. to 10 a.m. might be seen as a Three Drives pattern. Interestingly, the Euro always closed above the daily S2. The three consecutive lows tempered many breakout traders to go short following the breakout of yesterdays consolidation pattern.

These false breakouts caught many traders in the wrong position which often leads to a price reversal. The hammer pattern (Price rejection) initiated this price reversal and the EUR/USD moved back into yesterdays consolidation pattern. Yesterdays consolidation price zones acted as resistance as price approached this level again and the Euro reversed back down.

The 5 min EUR/USD chart shows some Fibonacci levels which could helped the trader to find entry and exit points. The red arrows show some false breakouts, which occurred today.

The 5 min chart also shows that we did not have a confirmed breakout through the daily S2. See Unconfirmed Breakout Candle

5 min EUR/USD Chart Pattern

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Flag Patterns Pivots and SMA - real time forex trading signals free

Flag Patterns Pivots and SMA ~ real time forex trading signals free

Chart Analysis of the Euro

Daily Pivot Point

1 hour Fib Extension

Price Zone of the Consolidation pattern

 Today in the Asian session EUR/USD went lower but market found support at the gap close from the trading day before at 1.2518 and the tight price zone of the consolidation pattern at this price level (Z).  The Euro moved up from this support price level (C) and penetrated the daily pivot point (1.2563) (D) but found resistance in the price zone of yesterdays consolidation pattern (B). Since then EUR/USD is trading lower.

5 min Euro us dollar chart analysis

Bull flag

 On the 5 min chart we see that yesterdays consolidation price zone at about 1.2540 (1) provided some resistance (2) before market went up further. The daily low from May 23 at 1.2545 (red line) still seems to have some impact (red circles). Market consolidated (3) (Bull flag) and closed (7 a.m. hourly candle) at the red line before market broke out of the bull flag initially at the beginning of the new hourly candle at 8 a.m.(breakout candle).

The breakout candle respected (closed at) the daily pivot point, consolidated there (4) and broke through it triggered by the increasing 10 SMA on the 5 min chart. However, the breakout of the following small bull flag (5) just above the pivot point only reached the 61.80 % fib extension (a-b at c) (rejection) and the Euro turned around. Market price respected and then moved below the 10 and 20 SMA on the 5 min chart.

The EUR/USD market traded in a tight 20 pip range between 11 a.m. and 1 p.m. capped by the 200 SMA before market created a typicalthree swing consolidation pattern (ABC), which also can be regarded as a bull flag from the previous swing down (hourly chart) (the first swing/ wave (A) in the consolidation terminated at the 61.80 % fib retracement; the second wave (B) at the 61.80 % Fib extension from the previous swing down at A).

After the three swing consolidation pattern terminated (C) market broke down strongly (high momentum) and market took out the previous lows, particularly the recent low from 25th of May at 1.2496 (blue line). Market only initially respected the support zone of the daily S1, low from 25th of May and the 100 % fib extension (4:35 p.m.) before the Euro moved down further to find some support at the daily S2 pivot, the hourly 100 % fib extension (A-C at D) and the 161 % fib extension on the 5 min chart.

10 and 20 SMA

During the strong move down (5 min SMAs were far away from price) the 10 and 20 SMAs on the 1 min chart (not shown) seem to become the trigger signals, e.g. at 4:41 p.m. (6), as long as the momentum stayed strong and market did not reject the decreasing SMAs on the lower time frame-1 min-.

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Flag formation to shoot Gold up - forex trading made ez review

Flag formation to shoot Gold up ~ forex trading made ez review

On 11th November, I speculated an upward movement of Gold and on 13th , I posted an update---analysis of the brief intraday correction pattern downside before the movement upward began.

I cashed out 320 pips on half of my position while the rest is opened to ride the bullish move upward.

Presently on the intraday level, there is a formation of a consolidation flag pattern which is expected to break upside after which further upside move will happen.

If the flag formation is broken upside as expected, there is a strong possibility of reaching level C indicated in the chart . 

The level C is a confluence level for 161.8% extension of wave A from B, 31.8-50% retracement of the last impulsive 5-wave bearish trend that I discussed on 11th , and the flag extension.

I will add to my position as soon I discover that the flat is broken upside.
I will keep an update here.

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Flag patterns - honest forex trading signals

Flag patterns ~ honest forex trading signals

Bull and Bear Flags

Trading the Flag patterns

Daily Euro US Dollar Forex Market Update

At the daily chart we had a small consolidation last week (circled) at the 1.2931 support level created by the daily low from January 25 and the gap from January 23.

4 hour Euro US Dollar Forex Market Updates

Oh the 4 hour chart we see that the daily support and the 61.80 % fib extension from the A-B wave moved to the C wave at 1.2928 held the market last week (no confirmed break of the the support). However, price also could not bounce back so that the bear flag got triggered due to this weeks gap down. In the following, price held at the 61.80 % fib extension from wave C-D moved to point E at 1.2884 in the Asian session today.

1 hour Bear flag trading pattern

As seen on the 1 hour chart, the 100 % fib extension of wave a-b moved to point c at about 1.2882 strengthened this support area. Market consolidated there but could not bounce back so that  the following bear flag was created, and price broke down in the European session to the 1.2825 support level created by Weekly S1, Monthly S2 + the 100 % fib extension at point a (or point E on 4 hour chart) at 1.2825 and the most recent fib extension of wave c-d moved to point e at 1.2819. Market seems now to consolidate at this support level.


Note:

Bear/Bull flags show that the market is unable to bounce back from the support/ resistance level and erode these levels over time till the market stops consolidating and continues the trend (level can not be held any more after accumulation/ distribution is over).

In a strong trend the bull/ bear flags can repeat over and over till a rejection of the breakout occurs (price moves back into the consolidation) or the the bull/ bear flag fails (breakout of the consolidation is to the other side. Then, a turn around or larger consolidation could follow

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