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Wavey

High Probability LONG until top trendline, before massive SHORTBased on the current Daily chart/pattern, there is a possibility to enter a LONG until the top of the channel trendline, before a substantial SHORT to the bottom of the triangle's channel trendline. IF the bottom trendline is broken, after consolidation and crossing the Blueberry EMA, we should be able to have confirmation of a significant Impulse wave downwards for a full bearish trend, which could confirm hard times ahead for the IHG (Intercontinental Hotels Group). TDI seems to suggest a LONG is still valid until the overbought position is reached which should then signal a great SHORT entry at least to the bottom of the channel trendline/Blueberry EMA. Once we reach the Blueberry EMA, price action and structure should provide more information before a decision to exit the trade or continue SHORT for an Impulse. ---------------------------------------------------------------------------------------------------------------------------------------------------------- DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar. This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out. .....::::: If you like this chart, please click on the THUMBS UP ! :::::..... ----------------------------------------------------------------------------------------------------------------------------------------------------------
NYSE:IHGLong
by UnknownUnicorn661419
AUS200 Possible Bullsih Butterfly Pattern Forming?It is possible that we have a Bullish Butterfly Harmonic Pattern forming and on confirmation, a SHORT setup can be triggered. My elliott wave count also lends credibility to this idea as it seems we are approaching the end of a Wave Y corrective structure. MACD however suggests downwards move as well as RSI as having already completed overbought status. However Stochastic does show approaching overbought status (not there yet). In my opinion, I will wait for the price action to reach the Entry Zone of the Harmonic Pattern confirmation before I take a Short on this for TP#1. TP#2 however, if reached, may invalidate my wave count and change structure unless a significant news event occurs as a spike. I'll be watching this particular price action very carefully before keeping open the position to TP#2. ---------------------------------------------------------------------------------------------------------------------------------------------------------- DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar. This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out. .....::::: If you like this chart, please click on the THUMBS UP ! :::::..... ----------------------------------------------------------------------------------------------------------------------------------------------------------
FX:AUS200Short
by UnknownUnicorn661419
1