BAT- Long-term weekly S/R flip aheadAfter more than 70% retracement, BAT is poised for another run once the derivative data turns bullish.
Long-term weekly S/R flip is the last hurdle to clear.
Weeklyanalysis
Triangle Breakout This WeekUJ seems to be slowing down in momentum when looking from the higher timeframes. I wanna say we are going to remain bearish overall, but I want to see how this is gonna play out. As you can see from the trendlines, this could be just a giant flag for the bull. So let's find out what happens this week:
BULL TPS:
• 107.260
• 107.528
• 108.072
BEAR TPS:
• 106.808
• 106.437
• 105.844
Will Previous Market Structure on Weekly Be Respected?On the 4 hour, it looks like a baby head, neck, and shoulders is forming to signal the bull. The right shoulder is missing. BUT, it's the weekly charts that got my full attention. It shows price is bearish, but a bit jagged.
We're sitting on top of where a previous market structure took place. If we break the range at 1.50748, we're gonna be in for a nice nosedive. This is my favorite pair. I can't wait to see what it does.
BULL TPS:
• 1.52947
• 1.53709
• 1.54582
BEAR TPS:
• 1.51824
• 1.50998
• 1.49809
• 1.49015
Possible Pullback Before ContinuationGold hasn't been this high since the last recession. Had to put in new levels to pace the move. New zones will be created as the market continually moves up.
I don't think it's gonna stop any time soon with the economy devastated by the Coronavirus. This is ongoing. So this is may give god the opportunity to keep rising over time.
The most I'm looking for is a pullback before continuing up. I marked up targets for the short if it comes into play longer than expected. Here ya go:
BULL TPS:
• 1754.14
• 1769.64
• 1795.30
BEAR TPS:
• 1733.84
• 1725.92
• 1701.70
• 1686.70
Can We Stay Bearish?What I'm looking for this week is to see if the bearish momentum will continue longer or will we begin an uptick for a little while. The overall move is bearish, but I'm looking for that to change if it can come back to 1.22093, or make it to the monthly zone around 1.18937.
Otherwise, go bears!
BULL TPS:
• 1.21933
• 1.22889
• 1.24148
BEAR TPS:
• 1.20485
• 1.20022
• 1.19224
• 1.16804 (this is a stretch TP pass the monthly)
Retracement May Continue This Week For Now...This may still be a giant retracement for the time being. Waiting for it to get to the monthly zone 1924.42 area to determine the bear continuation or keep going up where price did its big dip.
BULL TPS:
• 1913.44
• 1919.12
• 1924.42
• 1941.64
BEAR TPS:
• 1888.42
• 1886.14
• 1846.39
INTEL now is a big opportunity!NASDAQ:INTC
* Declines stopped at a long-term weekly support line
* After a 37% drop, a huge company - so in my eyes this is a great opportunity to buy the dip.
* Breaking a small triangle descending
* A stock breaks up SMA20
ETHUSD weekly timeframe Elliot wave analysis. Long!!The new trend to the upside seems to have started for ETH against USD. Market structure has broken. The targets are represented as rectangles. Also a weekly double bottom at play. A break and close below 300 invalidates this. Also with ETH 2.0 it can see a substantial pump up soon. A good 6 RR swing trade. Not a financial advice. Hope it helps.
GBPUSD Approaching Major TrendlineGBPUSD is soon approaching a long-term trendline, which coincides with a 3 year supply zone. As price approaches this level, it would definitely be strongly resisted.
In addition, the current price is the top of a 3 year range, thus we could start looking to sell GBPUSD. Await a retest on the previous high, or wait for a rebound when price breaks the current bullish structure.
EURNZDPrice has been dropping for a while. Now, it is still about 90 pips from weekly trend line and 140 pips from strong support level - where we may expect and look for new trade opportunities.
EURAUDUPDATE:
After my previous trade idea, price has broken the zone immediately and it is about 100 pips from daily important zone.
USDCAD Failed to Sustain UptrendUSDCAD has been steadily falling this week after retesting previous breakout point at 1.3333, largely due to Dollar weakness. With the BoC announcing a reduction in bond purchases, we could expect the CAD to continue appreciating.
This week, price is currently hovering at a strong demand zone, which coincides with the previous low of downtrend. Await a pullback to a resistant point, and we could continue selling USDCAD should there be clear signs of resistance.
May Get Ready To Go Bullish This WeekThis looks to be in the process of completing a bullish harmonic before its major uptick. Not all the wy sure just yet. I'm trading along until it gets to the monthly 136.218 zone to determine its full direction, or to the daily 133.414 zone to see will the bearish move begins to pivot. So this week is just getting in front of the move until the true trend reveals itself fully.
BULL TPS:
• 135.464
• 136.093
• 137.239
BEAR TPS:
• 134.460
• 133.414
• 131.941
Looks Bearish StillThis is my first time looking at silver. And it still looks bearish overall according to the higher timeframes. I'm still marking up all the levels of this chart for future teammates. So pay attention to the levels I found on the 4hour. They could be hints where a key level or two is right now.
BULL TPS:
• 23.766
• 24.511
• 25.372
BEAR TPS:
• 23.257
• 22.688
• 21.846
Possible Continuation DownLooking like a strong continuation down for the week. I'm avoiding the USD for now until elections are over, so this will be a focal pair for now. If we do any pivot to the upside, it will be around the daily 1.54626 zone. Otherwise, enjoy the drop if it happens!
BULL TPS:
• 1.55366
• 1.55870
• 1.56543
BEAR TPS:
• 1.54812
• 1.54058
• 1.53468
• 1.52947
NZDCHF Analysis by forexbee.coNZDCHF Analysis: Looking to buy from the below demand zone between 61 and 78 Fibonacci level.
Trend: Trend Reversal on break of last lower High in NZDCHF.
Trade Idea:NZDCHF was retracing downward from 1st September. it was in a clear bearish trend due to four consecutive lower lows. Recently due to a massive upward move and break of last lower high, trend has been reversed. Now we will look for a bullish entry instead of bearish.
Possible Inverted Head and Shoulders Completing This WeekThis may be an inverted head and shoulders we're looking at and about to complete the right shoulder. So if that's the case, we're gonna be bullish this week. If not, we should test the weekly zone at 123.526 and push down to the next levels.
BULL TPS:
• 124.297
• 125.022
• 125.885
BEAR TPS:
• 123.580
• 123.107
• 122.601
SPX500Bullish flag, the last data point has been reached. Here is still option that price will continue dropping until US election is over - 3344 level is important zone of SR. Always have your SL and proper risk and money management.
