6E - intraday trading with divergence/fib/pattern

This head and shoulders pattern on 15 min chart failed at 23.6% level of previous upmove, which is shown on the 4 hour chart. Trix shows more divergencies than Macd most of the time and give more smooth lines.

6E - Intraday Trading with divergence/fib

Sellers made multiple attempts to this level for three and a half hours, but the fib levels and the positive divergence on 5 min chart on the left shows this level is likely hold support, and it bounced. The fib level on weekly chart on the right is 61.8% of the previous big move, and the 4 hour chart in the middle shows 150% extension of the previous upmove.

6E - Trendline / Fib

There is a fib extension at the level where it reversed, but the declining resistance trendline caught this level perfectly. Trading can be just that simple, and shows how powerful a single trendline can be.

6E - Intraday trading with fib extension and divergence

This chart doesn't need much explanation and shows intraday trading can be enhanced by the spotting of these divergencies. Notice the -38.2% fibonacci extension level providing support to help bouncing from this level.

EURUSD - Fib/Fan/Trendline and Divergence

4 hour chart on the left shows how what started out as the falling wedge did break the resistance trendline out of the wedge, but ended up only expanding the wedge wider into almost a channel, which then moved back down to the support trendline. This has built positive divergence as shown on the daily chart in the middle, and has begun to bounce from this level where 78.6% fibonacci fan and 61.8% fibonacci retracement of the previous upmove is providing a barrier. The weekly chart on the right shows where the fibonacci levels are drawn from. Notice on the 4 hour chart the level bouncing from is -100% fibonacci extension from initial downmove from previous high, and how the -61.8% extension also provided support as previous low.

6E double bottom with trendline/fibonacci/divergence

Downside pressure was retraced 50% as shown on 30 min chart on left before failing to go back down to retest the low, which built positive divergence and hit 78.6% retracement of the upmove from the low as shown on the 2 hour chart on the right. Notice that it is also where the support trendline is, strengthening support at this level. This bounce setup moved the price back up to the fibonacci levels shown on the charts.

6E - Fib extension and divergence

Self explanatory as the positive divergence building on 5 min chart on the left suggests the bounce was coming after big pop and drop move from high impact news, unemployment claims. Notice it bounced from 38.2% fibonacci extension from the high and low drawn from initial downmove from previous swing high.

6E - Trendline, channel, fibonacci and divergence

Few interesting technical tools at work here, first where it failed was 50% retracement of previous downmove shown on the chart in the middle, and could it be coincidence that it is also where 38.2% retracement level of the monthly chart on the right, covering years of trading. Notice it is also in the vicinity of channel trendline shown on the chart in the middle. Then, there is pretty obvious positive divergence on the 5min chart, where there is also support trendline. Sellers tried hours attempting to break lower, which did take the price down but built the positive divergence and bounced.

6E move with trendline and fibonacci/extension/arc

Downside pressure that continued from the days selloff into afterhours was met with strong support level and bounced. Positive divergences on 15 min and 30 min charts were developing as the price hit multiple fibonacci levels, 61.8% of this upside move from the low and 123.6% extension of most immediate previous upmove, and also support trendline. Fibonacci arc also helped, however the arc is subjective to the timeframe it is drawn on as the shape changes in different timeframes and zoom level. It is interesting to see that the arc works as well as the other fibonacci tools.

6E Intraday Double Top on 1600 tick chart

1600 tick chart on the left shows negative divergence building up to the top and the double top that followed, which subsequently fell and found initial support at 50% fibonacci retracement level of the move from the bottom shown on 1 hour chart on the right.  1 hour chart also shows the fibonacci fan levels that acted as support and resistance. Notice the 50% fan level(white line) that it initially bounced from previous sell off got broken like butter and didn't provide any support when it failed at 38.2% fan line above and fell. 61.8% fan line below did provide initial support along with the 50% level mentioned, together strengthening the level for initial bounce. 1600 tick chart also shows 23.6% fibonacci retracement level as resistance, which took the price lower.

Intraday Trading - Double Top on 1 hour chart

This chart shows clearly the new high made on unemployment news was done showing negative divergence on 1 hour chart. 1600 tick chart on the left shows closer view to confirm the negative divergence right before the move. Sure enough, it fell hard to the 61.8% retracement level of the big rally 2 days ago. What is interesting is that before the news it has been setting up for 2 days, kind of makes you wonder, was it the news that really suddenly moved the market?