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4h

APPL Broadening Wedge Descending (bearish)I found this pattern at tickeron website with the following data: STATUS = Confirmed CURRENT CONFIDENCE = 89% TARGET (EXIT) PRICE = 102.72 USD BREAKOUT (ENTRY) PRICE = 110.28 USD DISTANCE TO TARGET PRICE = 4.17% EMERGED ON = Sep 17, 08:00 AM (EDT) CONFIRMED ON = Sep 17, 11:59 AM (EDT) WITH CONFIDENCE LEVEL = 100% The Broadening Wedge Descending pattern forms when a security price makes lower lows (1, 3, 5) and lower highs (2, 4), forming two downward sloping lines that expand over time (kind of like a pointed down megaphone shape). This pattern may form when large investors spread out their selling over a period of time, and the Breakout can occur in either direction. When the initial selling occurs, other market participants react to falling price and jump on the bandwagon to participate. Then the value investors begin to sell, believing the price has not fallen enough, which spurs the original large investor to resume selling again. Trade idea If price breaks out from the bottom pattern boundary, day traders and swing traders should trade with a DOWN trend. Consider selling the security short or buying a put option at the downward breakout price level. To identify an exit, compute the target price by assessing the difference between the pattern’s lowest high (2) and the breakout level. That is the pattern height. The target price can be calculated by subtracting the pattern height from the downward breakout level, which is the last low touching the bottom line. To limit potential loss when price suddenly goes in the wrong direction, consider placing a stop order to buy back a short position or sell a put option at or above the breakout price.
NASDAQ:AAPLShort
by AlTorress
GBPNZD - “Unyielding Presence Of Bears in the Market”.Following my analysis on price action of the GBPNZD pair, the market shows an unyielding presence of bears who wish the push price lower. A look at the weekly chart taking into consideration the previous market swings shows a bearish flag pattern formation and the previous week’s close left an evening star formation behind indicating the presence of bears in the market. Moving on the 4H timeframe where I look for market structure it’ll be hard to miss out on the head and shoulders pattern showing a reversal from the previous uptrend. As seen on my chart, below is a list of confluence I have on the GBPNZD pair; 1. Weekly close leaving an evening star pattern. 2. Bearish Flag pattern on the weekly TF. 3. A recent LH and break of previous HL creating a “Head and Shoulders Pattern” on the 4H. I’m looking to see the market pull back, retest my supply zone(RESISTANCE), and then create an opportunity to short the pair. And then a break and retest of my demand zone(SUPPORT) before creating another opportunity to short again. All my entries will be done on the 15m timeframe, I’ll be risking 15 pips on both trades and maintaining a RRR of 1:3.
Short
by hendrixejegi