Price target Pivots Fibonacci - world best forex trading signals

Price target Pivots Fibonacci ~ world best forex trading signals

Head and Shoulders neckline

Butterfly sell pattern

Chart pattern Price target

On the daily Chart of the EUR/USD we see a Head and Shoulders Chart pattern. The Euro closed at the brown neckline on the 5th of July and broke through the neckline on the next trading day, which triggered the Head and Shoulders pattern.


A close at Support/ Resistance levels, like the close at the Head and Shoulders neckline (blue circle), often weakens this Support/ Resistance level (see Breakout Trading/ Breakout Timing) so that a break of this S/R level (for a true breakout or a false breakout where price bounces back strongly - Stop Running and fooling breakout traders) is likely.


The target of the Head and Shoulders pattern is often the 100 % Fibonacci Extension level from the price range of the largest swing of the Head and Shoulders formation moved to the neckline break. The smaller 61.80 Fibonacci Extension level also led to a minor price reaction of the EUR/USD.

The EUR/USD bounced from this Head and Shoulders price target and started a strong upward leg after hitting the 100 % Fibonacci Extension price target of this chart pattern.

Daily Head and Shoulder pattern

The 4 hour chart below shows that the recent up move in the EUR/USD market found resistance at the monthly S1, which coincided with the daily Resistance (pink line) and the consolidation price zone of the small and tight consolidation chart pattern on the left side of the 4 hour chart below. Hence, the level around the monthly S1 at 1.2388 was likely to lead to a price reaction due to the confluence of different resistance levels.

4-hour Eur/Usd Chart Analysis

The 1 hour chart below emphasises the importance of Pivot Point analysis. The daily Pivot at 1.2243 led to a strong upward move and marks the low of todays trading range, whereby the daily R1 and the monthly S1 capped the market price besides the other reasons mentioned above.

The red ellipses show Breakout Timing setups, where market price closed at Support/ resistance before breaking it with the start of the new candle, whereby the blue ellipses are marking price reactions at important Support/ Resistance.

1-hour Eur/Usd Chart Analysis

The 5 min Euro Chart shows the importance of the daily Chart level at around 1.2290 where marked price reacted repeatedly. Furthermore, the daily chart level also changed its role between support and resistance repeatedly depending on price action in regards of true/ false price breakouts of this level.

In addition, there is a Butterfly sell pattern on the 5 min EUR/USD chart, which worked out very well. The failed breakout of the consolidation pattern (green circle) to the upside terminated at the monthly S1, which coincided with the 127 % Butterfly level, and price broke through the opposite consolidation boundary with strong momentum.

5-min Butterfly sell pattern

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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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Stop Runs during News release - forex brokers with trading signals

Stop Runs during News release ~ forex brokers with trading signals

News releases in Forex

Stop Running

Stop run (shakeout) to the upside after daily bull flag got triggered and market took out the recent daily high. The Euro found resistance at the low of June 28 at 1.2407 and the weekly 10 SMA at 1.2409. After taking out the stops above the high of July 27 at 1.2390 the Euro reversed strongly (Stop clearing accomplished...). The Euro currently found some support at the daily S2, the 38.20 % fib extension from the recent hourly swing down (not shown) and the price zone of the consolidation from the 26th of July.

Yesterday, we had a potential H&S (tricky pattern) on the hourly time frame.

Particularly on the 1 min chart we see how the Fibonacci study could help to anticipate support and resistance.

1-hour Euro US Dollar Chart Analysis

5 min Eur/Usd Dollar Chart Analysis

1 min Euro Dollar Chart Analysis

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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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