USOILUSOIL Seems to have a harmonic pattern on the daily timeframe. We can also see we have a developing divergence with the RVI struggling to make a new low despite oil price falling rapidly. 81.64 Seems most probable in this circumstance.
Bat
Exclusive Insights Inside!Last week, I issued a warning: "it's not a good idea to short the USDJPY!" Despite months of anticipation, the bull run on USD is not yet complete. If you're still waiting for a shorting opportunity, keep an eye on the 4-hourly chart for the development of the bearish shark pattern—a potential entry point for this counter-trend trade.
Now, let's discuss trade plans and your thoughts on the USD trend. What's your approach to USDJPY, and where do you see the US Dollar heading? Share your insights below!
Dive into GBPUSD Trading InsightsGBPUSD currently exhibits a Weaker Bullish Trend on the weekly chart, introducing interesting dynamics.
On the 1-hourly chart, a bearish shark pattern emerges, presenting a counter-trend trading setup. Simultaneously, the 4-hourly chart showcases a bullish bat pattern within the buy zone.
My preference in this scenario is clear—I favor the bullish bat pattern on the 4-hourly chart.
Now, I'm curious about your preference. What's your take on these setups? Feel free to share your insights below!
Money Making Opportunities in EURUSDEURUSD is currently navigating a weaker bullish trend on the weekly chart, adding an interesting layer to the market dynamics.
On the daily chart, a bearish flag pattern setup unfolds, creating an intriguing scenario. Furthermore, the 1-hourly chart reveals a bullish bat pattern, while the 4-hourly chart showcases a bearish bat pattern.
In the week ahead, I'm poised to engage in whichever trading setup comes to fruition first.
Now, I'm keen to hear about your trade plan. Do you carry any trend biases, and if so, what factors influence them? Your insights matter—please share them below!
Aggressive Counter-Trend PlayI've identified a Bat Pattern retest on the NZDJPY, representing a counter-trend trading setup. This trade is categorized as a combo trade due to the presence of a bearish shark pattern retest on the weekly chart.
In this instance, I've opted for an aggressive approach , meaning I'm engaging in the trade before waiting for candlestick confirmation.
The profit potential for my final target is quite remarkable.
A gentle reminder: Never follow any trade blindly and refrain from overtrading, regardless of your confidence in this trade or in me.
Wishing you successful trading!
2 patterns converge in the same regionIn this trade, I'm taking a counter-trend approach, spiced up with a touch of adventure on my second target.
The convergence of the Fib-3 Bat Pattern with the Deep Gartley Pattern setup is a remarkable alignment. The addition of RSI Divergence serves as the icing on the cake.
Once the market reaches my first target, I'll be making the prudent move of shifting my stops to entry, securing the gains made thus far.
May the market be in our favour!
Is Tesla Bat Ready To Fly Into Space Like SpaceX?the detail is shown in the above Chart.
I made this Idea based on Candlestick Analysis and Fibonacci Tool.
TSLA sellers were able to break the support line for buyers at the 0.618 gold level.
Therefore
we can expect that TSLA buyers are ready in level 1.27 and 1.618
and buyers at the level 195 $ were able to rise TSLA price to around level 0.786 (225 $)
and now two scenarios are on the way
TSLA price will fall again and buyers will be ready with stronger power .
TSLA price will fall to the next golden level ($168) and TSLA bat will help the
buyers to fly to the sky like spacex .
a Bullish BAT Pattern Will Start at 168.
Potential Bullish and Bearish SetupsThis week, GBPAUD introduces an element of confusion into the FX market.
On the Daily Chart, two opposing trading setups vie for attention. There's the Bearish Flag Pattern, offering a shorting opportunity, yet simultaneously, a Type2 Bullish Fib3 Bat Pattern emerges. With the right filter, one can discern which trading setup is likely to be the more profitable choice.
For those inclined towards a shorting opportunity, the Bearish Bat Pattern on the 1-hourly chart presents a viable trading opportunity.
Now, it's decision time. What's your pick? Your insights matter. Please share your perspective below!
Potential Bearish Setup on Weekly ChartThe Bearish Fib-3 Bat formation on the Weekly chart certainly catches the eye, particularly with the presence of a long-shadow candle.
However, it's important to acknowledge that the trading setup remains unconfirmed. Waiting for confirmation may entail missing out on potential profits, to the tune of 200 pips.
Here are some strategic considerations:
Option 1: Shorting Opportunity from Lower Timeframes
One approach is to anticipate a shorting opportunity on lower timeframes, thus potentially capitalizing on a downside move without waiting for full confirmation.
Option 2: Trading Within the Range (1-hourly Chart)
Both sellers and buyers find opportunities within the 2 zone. This entails engaging with the Resistance at 150.49 and the Support level at 149.00.
The pivotal question arises: What's your trade plan? Your insights matter. Please share your perspective below!
Pidilite industriesHarmonic bat pattern in 1DTF
=> Price hits reversal zone
=> Price near weekly demand zone
USDJPY Weekly Short Trade:USDJPY Weekly Short Trade:
Bearish Bat completed
US 10 yr Yiled Reversed
NFP data is bad
Bearish Pin bar Formed
Therefore, Short USDJPY
TP1: 142.10
TP2: 136.40
TP3: 129.76
TP4: 116 (Long Term Target)
Cheers
GOLD 🪙) traget ▶️✔️hello traders what do you think about this analysis gold 🪙🥇
support Levi's??
resistance Levi's??
👇👇👇🚨
Gold price enjoyed a good two-way price movement on Wednesday, advancing toward the $2,000 mark ahead of the Fed policy announcements, as the US Dollar stalled its recovery mode amid sluggish US Treasury bond yields and a mixed market mood. However, Gold price changed course and tested the $1,970 round figure, in a knee-jerk reaction to the Fed’s policy inaction, as widely expected. The US Federal Reserve left the key policy rate unchanged in its current 5.25%-5.50% range.
It was Fed Chair Jerome Powell’s press conference and his response to the questions that smashed the US Dollar alongside the US Treasury bond yields, triggering an impressive comeback in Gold price. Although Powell did not rule out another hike, markets perceived his words as not quite as hawkish as they expected. He acknowledged tighter financial conditions, a strong labor market, a resilient economy and an elevated inflation level.
The sell-off in the US Treasury bond yields was also in part due to a quarterly Treasury announcement that said the government will slow increases in the size of its longer-dated auctions. The auction of 10-year Treasuries was increased by $2 billion, below the market's expectations of $3 billion. The benchmark 10-year Treasury bond yield tumbled over 20 basis points (bps) to 4.7089%, the lowest in more than two weeks.
support pales my analysis 🤑
FXOPEN:XAUUSD
RIL - Bat pattern is in makingRIL is the process of BAT formation.
Above 2495, a bull will take a control
and Below 2440, bear is going to take a control.
And if bears take a control we can see the stock correcting to almost 2330 levels (a 4.5 % correction) till Mid October'23.
Do keep a watch on important levels of the stock
Technical Analysis & Trading StrategiesIn the upcoming week, the spotlight might be on NZDJPY, particularly for those who lean towards structure-based trading methods.
In this scenario, we marry technical analysis with the art of trading.
Observations:
A keen eye at the support level reveals an ABCD pattern checkback on the 4-hourly chart, situated at 86.84.
For Fib-3 Bat enthusiasts, a buying opportunity may materialize on the 1-hourly chart.
Now, the pivotal question: What would be your approach to NZDJPY? Your insights matter. Please share your perspective below!
BTC - Bearish Shark, Bat, and ButterflyHello All,
There seems to be a confluence of patterns that are all lining up at one point on the charts, 31.1k. The Bat in Red, Shark in Blue, and Butterfly in Purple. There surely will be a reaction at this level. Whether this is a pivot to see lower low's past the 24k mark is unknown. There certainly will be a reaction up here though. Thanks for viewing my Idea!
DAX - last chance to return to growth- Business sentiment still weak, but first signals of recovery appearing
- Investors sentiment rather gloomy, however no more rate hikes expected
- All major indices in downtrend and all at important support levels (except HK50)
- DAX at Bullish BUT D-Point and at FR 0.382. If support cluster is broken, next one goes down to 14250 and next to 13640
Japanese Currency Index: Harmonic Bottom with RSI ConfirmationThere is a Confluence of a Bullish Butterfly and a smaller Bullish Bat visible on the 5-day and Weekly timeframes on the JXY as the RSI ticks out of the oversold zone for the 4th time at this level while making higher lows each time. It would seem as if the JXY is confirming to us that it has reached a Harmonic Bottom and is preparing to rise up to some of the longer-term moving averages, with the highest being at around $89-$95. During this time, we have seen the JXY continue to strengthen against other non-USD currencies, but now it's starting to look like not only will the JXY rise but that the Yen will gain dominance against the Yen, and when this happens, I also expect the JGB Yields to rise significantly. So beyond my forex positions, I will be adding YCS puts to my list of Bullish JPY positions. YCS is a 2x Return of USDJPY so if JPY starts to go up from here, this ETF could really crash down fast.
Analyzing for Aggressive Shorting and Buying Setups!
USDCAD presents multiple potential opportunities, with a current focus on a shorting prospect.
Weekly Chart Influence:
The weekly chart displays a Double Top Retracement, guiding the overarching trading decision.
Approach Considerations:
While an aggressive trade might opt for an immediate shorting entry, I'm choosing a more cautious approach.
Short Trade Options:
Daily Chart: Eyeing a Type2 Bearish Shark Pattern for a potential retest at 1.3744.
4-hourly Chart: Noting a Bearish Bat Pattern completion at 1.3770.
15-minute Chart: Considering a Bearish Shark Pattern projected to complete at 1.3733.
I'm interested in your perspective. Which of these setups resonates with you, or do you have an alternative approach in mind? Share your insights below!
Capitalizing on the Bearish Trend
The entirety of the NZDUSD landscape is signalling a potential shorting opportunity.
Technical Insights:
The volatility trendline, once a counter-trend reference, has been breached and closed below. Now, we await a retest of this trendline as an entry point for a shorting opportunity.
Extended Target:
For those inclined, extending the target to the completion of the Bullish Bat Pattern on the Weekly Chart at 0.5626 could be a strategic move.
Always employ your own risk management strategies and validate with your analysis. What's your perspective on NZDUSD? Share your thoughts below.
