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EURUSD Bearish Trend and Bearish Bat Pattern CompletionEURUSD Bearish Trend and Bearish Bat Pattern Completion Instrument: EUR/USD Timeframe: 1-Hourly Chart Current Direction: Bearish Analysis: EUR/USD is currently exhibiting a bearish trend. While the impulse to short immediately is strong, my preferred entry level is at 169.54. This price point aligns with the completion of a bearish bat pattern on the 1-hourly chart. Key Points: - Bearish Trend: The overall trend for EUR/USD is downwards. - Bearish Bat Pattern: Completion level at 169.54, which offers a high-probability short setup. - Entry Level: 169.54 - Chart Pattern: Bearish Bat Pattern - Timeframe: 1-Hourly Chart Strategy: - Wait for Price to Reach 169.54: Monitor the price action and wait for it to approach the 169.54 level. - Confirmation: Look for bearish confirmation signals around this level to enter a short position. Stay tuned for updates and trade wisely!
Short
by RaynLim
1
GBPUSD forms a bearish bat pattern and starts to move downOn the daily chart, GBPUSD started to move downward after forming a bearish bat pattern, and the short-term bearish trend is dominant. In addition, GBPUSD formed an insidebar break on Friday last week, and the downside risk increased during the day. The current key resistance is around 1.2740. If the rebound is blocked, you can consider shorting (a light position short order can be tried around 1.2700). The support below is around 1.2570. After breaking through, the support below is at 1.2500.
Short
by XTrendSpeed
BTC Technical Analysis. "Our greatest glory is not in never falling, but in rising every time we fall" Dear Analysts and Traders, I would like to share my latest look at the BTC price chart. First of all, I would like to point out that I am not a person who received a targeted education. I am a self-taught person who places particular emphasis on the use of Technical Analysis as the main component of the decision-making process. This is due to my approach, which assumes that the chart, although difficult to read, allows for the interpretation of the hidden intentions of "smart money". I would like to emphasize that the following words only illustrate my point of view, which does not have to be right, and that the publication is absolutely not investment or educational advice within the meaning of any law regulating these issues. I'm just going to talk about things I don't know anything about. In the analysis, I will use my own indicator, which is publicly available. The average value of the indicator is obtained from all visible data on the chart. Background In the graph showing the period from aprox. November 2022, I see a strong upward trend, which has been broken several times by the accumulation structure. The price stops around $74k, which means the price has increased by about 370%. In the more recent past, I notice a price formation resembling a double top on the chart. Situational analysis I analyze the chart using three volume profiles, elements of Elliot's theory and harmonic structures. In my opinion, the most important element of the chart is the horizontal structure, which I consider to be the probable distribution. I think so because I see several indications in the chart that suggest so. The first is a structure referring to Wyckoff's theory and VSA elements. The trend and structure are in the upper part almost from the ruler, there are distribution signals that are stronger than accumulation ones, which I marked with colored arrows. In my opinion, the Bitcoin price chart represents Phase B of distribution. I see demand exhaustion near possible Uphtrust. I marked events consistent with Wyckoff's methodology in white letters. There is a Volume Reversal Pattern between the last two highs. The earliest profile shows a POC equal to my proposed price level, which would be the D vertex of a potential harmonic structure - the bullish bat. Looking at the second chronological volume profile, I see supply signals crossing the upper limit of the trading rank created by the profile from below. On the third, most important profile, I see a High Volume Node equal to the VOP of the first profile and also the D point of the bat. From the Elliot theory side, I believe that the price is stuck at the end of the fifth wave and I should expect a correction. I also pay attention to the time dimension. The time to cover the distance between extremes during an impulse is equal to the time between the next such event. Considering the time zone according to the Fibbonaci numbers and the impulse wave, I see a comparable distance between the X-A and B-C-D vertices. Interpretation Given the number of signals suggesting the significance of aprox. $43k, I think there is a high probability that this analysis will come true. Thinking about the volume ratio between accumulation and distribution, I dare say that it is possible for this accumulation to be the initial support in a Wyckoff higher-level structure. I am very glad that this analysis was created because, especially if implemented, it will be a broad synthesis of various Technical Analysis methods to study market behavior. Whoever reached the end of my thoughts, I thank you and I hope that the time to explore my thoughts was not wasted. Fruitful trades and flawless analyses! CatTheTrader
by CatTheTrader
USDJPY Analysis: Opportunities for Shorting EnthusiastsUSDJPY is still pretty bullish, but for those looking to short, here's what I'm watching: Daily Chart: - Signal : Retest of the broken trendline - Entry : Wait for MCC 1-Hourly Chart : - Bearish Deep Gartley Pattern at 157.33 - Conservative Entry : Wait for MCC, preferably a retest on the PRZ (Potential Reversal Zone) with RSI Divergence What's your trade plan for USDJPY? Comment down below and share your thoughts! Happy trading!
Short
by RaynLim
EURUSD Analysis: Multi-Timeframe Shorting OpportunityHere’s a detailed look at the EURUSD across multiple timeframes: Weekly Chart: - The market is in a sideways consolidation phase. - The upper trendline has been respected, indicating a potential downside movement. Daily Chart: - Watch for a retest of the Fib-3 Bat Pattern, which could offer a prime shorting opportunity. 1-Hourly Chart: - I’m eyeing a retest of the resistance at 1.0863 for a shorting opportunity. What’s your trade plan for EURUSD? Comment down below and share your insights! Happy trading!
Short
by RaynLim
GBPUSD bearish bat formOn the daily chart, GBPUSD is currently fluctuating at a high level. In the short term, we can pay attention to the resistance near 1.2827. This position is the entry point of the bat pattern D point. In addition, this position is in the previous supply area. Investors can pay attention to the SELL opportunity at this position. The first downside target of GBPUSD is around 1.2681, and the second target is around 1.2592. If GBPUSD breaks through 1.2894, the bat pattern will fail.
Short
by XTrendSpeed
3
Microsoft: Bat Pattern Retracement and MoreFundamentals: Microsoft has had a good three-year growth record, but its group is weak, which can drag the stock. Sales have been accelerating recently and earnings meet my criteria. It has good sponsorship. Earnings stability is very healthy. Earnings is out in seven days. Technicals: Bat Pattern Retracement 2023 diagonal trendline Clear higher highs and higher lows Backside of a downward tl potential test 76% fib level confluence with all above Price is testing the cloud extreme indicators exDiv1 Comment: I would wait for a green day, but I am already in at the current price. Trend Target is 460, 550 and 730 by December 2024 (8 months from now).
NASDAQ:MSFTLong
by Rocketman
VXRT Potential Breakout/Trend Reversal?Vaxart's previous run after COVID ended with a .30c gap down on the daily early June 2023, even so, once reaching previous low it ran up again. It has also shown much more promising earnings since the gap down. They have also ditched the Covid program to focus on norovirus and prolong cash runway into Q4. There is a WHO summit at the end of this month with billions of funding on the line, VXRT will likely be the recipient of a portion of that funding for their Norovirus Vaccine. Today, 5/21 in after hours on the intraday there was a gap-up to .95. You will not see this on a Regular hour chart, or daily. 5/23 I anticipate VXRT to run back up to over $1 in the pre-market, completing the gap-fill. From there, it may begin a run back up towards $2 or $3, or it may pull back into the .9-.95 range first; but either way I personally think VXRT is experiencing a trend reversal and may not return to under $1 again. Also the XABCD pattern before the gap up is a bullish bat, and many technical indicators like moving average and RSI suggest a move up. I'm new to trading, and may be wrong, so please do your own analysis. If you are experienced, please let me know what you think of my analysis so I can improve.
NASDAQ:VXRTLong
by Jaytradn
2
GBPUSD Potential Bearish Bat PatternFrom the daily chart, GBPUSD has stabilized and rebounded recently, and the short-term market is expected to continue to rise. At present, you can pay attention to the vicinity of 1.2826 above. This position is the short position of point D of the potential bat pattern. At the same time, this position is within the early supply zone. If the market shows a stagflation signal at this position, you can consider shorting at 1.2826. The downside target is around 1.2680, and the lower target is around 1.2590. If the price breaks through the 1.2900 mark, it will continue to rise.
Short
by XTrendSpeed
Understanding Bearish and Bullish Bat Harmonic Patterns Understanding Bearish and Bullish Bat Harmonic Patterns: A Professional Guide for Traders In the dynamic world of trading, identifying potential reversal points is crucial for making informed decisions. Two powerful tools that professional traders often rely on are the Bearish and Bullish Bat Harmonic Patterns. These patterns, grounded in Fibonacci ratios, offer insights into market behavior and help in predicting price movements. This article delves into the intricacies of these patterns, providing a comprehensive guide for traders. __________________The Bearish Bat Harmonic Pattern_________________________ The Bearish Bat Harmonic Pattern is a reversal pattern that indicates a potential decline in price after an upward correction. Here's how to identify and interpret this pattern: X-A Leg: The initial move where the price falls from point X to point A. A-B Leg: The price then retraces upwards from point A to point B, typically reaching 38.2% to 50% of the X-A leg. B-C Leg: The price falls again from point B to point C, retracing 38.2% to 88.6% of the A-B leg. C-D Leg: The final leg sees the price rise from point C to point D. Point D is the critical point, expected at the 88.6% retracement level of the X-A leg and coinciding with the 161.8% extension of the B-C leg. Key Fibonacci Ratios: A-B: 38.2% to 50% retracement of X-A B-C: 38.2% to 88.6% retracement of A-B C-D: 88.6% retracement of X-A and 161.8% extension of B-C Trading Strategy: Traders should look for selling opportunities around point D, anticipating a downward move following the completion of the pattern. Entry, Stop-Loss (SL), and Take-Profit (TP) Criteria: Entry: Enter a short position at or near point D. Stop-Loss (SL): Place the stop-loss slightly above point X to account for any potential false breakouts. Take-Profit (TP): Set the first TP at the 61.8% retracement of the C-D leg and the second TP at the 100% retracement of the C-D leg. _________________________The Bullish Bat Harmonic Pattern_____________________ Conversely, the Bullish Bat Harmonic Pattern signals a potential rise in price after a downward correction. Here are the steps to identify and utilize this pattern: X-A Leg: The initial move where the price rises from point X to point A. A-B Leg: The price then retraces downwards from point A to point B, typically reaching 38.2% to 50% of the X-A leg. B-C Leg: The price rises again from point B to point C, retracing 38.2% to 88.6% of the A-B leg. C-D Leg: The final leg sees the price fall from point C to point D. Point D is the critical point, expected at the 88.6% retracement level of the X-A leg and coinciding with the 161.8% extension of the B-C leg. Key Fibonacci Ratios: A-B: 38.2% to 50% retracement of X-A B-C: 38.2% to 88.6% retracement of A-B C-D: 88.6% retracement of X-A and 161.8% extension of B-C Trading Strategy: Traders should look for buying opportunities around point D, anticipating an upward move following the completion of the pattern. Entry, Stop-Loss (SL), and Take-Profit (TP) Criteria: Entry: Enter a long position at or near point D. Stop-Loss (SL): Place the stop-loss slightly below point X to account for any potential false breakouts. Take-Profit (TP): Set the first TP at the 61.8% retracement of the C-D leg and the second TP at the 100% retracement of the C-D leg. ______________________Practical Application and Tips_______________________ To effectively utilize these patterns, traders should: Use Confirmation Indicators: Always combine harmonic patterns with other technical indicators, such as RSI or MACD, to confirm potential reversal points. Practice Patience: Wait for the pattern to fully develop and reach point D before taking action. Risk Management: Implement strict risk management strategies, including stop-loss orders, to protect against potential false signals. Conclusion: The Bearish and Bullish Bat Harmonic Patterns are powerful tools in a trader's arsenal, providing a structured approach to identifying potential market reversals. By understanding and applying these patterns, traders can enhance their decision-making process and improve their trading performance. Remember, like all technical analysis tools, these patterns are most effective when used in conjunction with other indicators and sound risk management practices. Happy trading!
BINANCE:ADAUSDEducation
by MZ_FX_
9
AUDUSD Long Opportunity: Leveraging Bullish Patterns for StrateHello, fellow traders! AUDUSD presents an enticing opportunity for long positions, backed by the confirmation of a Bullish Fib-3 Bat Pattern on the 4-hour chart and a Bullish Wedge Breakout on the 1-hour chart. Let's explore three effective ways to engage this trade: 1. Retest on Support Line at 0.6613 (1-Hour Chart) - Strategy : Wait for a retest of the support line at 0.6613 on the 1-hour chart and enter a long position upon confirmation of support. - Rationale : This support level offers a favorable risk-reward setup, providing a low-risk entry point for bullish trades. 2. Retest of the 1st Trend Line (1-Hour Chart) - Strategy : Look for a retest of the first trend line on the 1-hour chart and initiate a long position if the price bounces off this trend line. - Rationale : A successful retest of the trend line validates the bullish momentum, offering an opportunity to enter the trade with confidence. 3. Retest of the Fib-3 Bat Pattern at 0.6600 (4-Hour Chart) - Strategy : Enter a long position at the 0.6600 level, which corresponds to the Fib-3 Bat pattern and serves as a significant price-action level. - Rationale : The confluence of the Fib-3 Bat pattern and the key price-action level enhances the reliability of this entry point. Risk Management - Set appropriate stop-loss levels for each entry strategy to manage risk effectively. - Consider position sizing based on your risk tolerance and overall trading strategy. - Monitor the trade closely and adjust your strategy if market conditions change. Final Thoughts With a Bullish Fib-3 Bat Pattern and a Bullish Wedge Breakout in play, AUDUSD offers multiple opportunities for long positions. By strategically entering the trade using any of the outlined methods, traders can capitalize on the bullish momentum with confidence. Happy trading, and may the markets be in your favour!
Long
by RaynLim
USDJPY Short Opportunity: Key Factors and Strategic EntryHello, traders! I’m on standby to short the USDJPY, and here's why this setup is compelling. This analysis covers two crucial parts, providing context and strategic entry points. Part One: Macro Fundamentals 1. China’s Treasury Offload : - China sold $53.3 billion of Treasuries and agency bonds in Q1 2024. This reduction in US dollar assets can impact USDJPY negatively. 2. BRICS Currency Moves : - BRICS countries are trading $4 billion in local currencies, sidelining the US dollar. This shift decreases demand for USD, potentially weakening USDJPY. Part Two: BOJ Interventions 1. Recent BOJ Action : - The Bank of Japan intervened in the FX market on April 29, 2024, but the attempt seemed to fail. Our community was alerted on April 26, 2024, giving us an early advantage. 2. Potential Future Intervention : - BOJ might intervene again, but this could upset G7 partners. If intervention fails or doesn’t happen, USDJPY could fall sharply. Trading Strategy: Bearish Patterns Confluence Key Levels and Patterns: - Entry Point : Short USDJPY at 159.27. - Confluence : This level aligns with a Bearish Bat Pattern and an ABCD Pattern, strengthening the case for a short position. Final Thoughts Considering the macro fundamentals and recent BOJ actions, the stage is set for a potential sharp fall in USDJPY. The bearish patterns at 159.27 provide a technical basis for entry, adding to the conviction. Stay vigilant and manage risk carefully. Happy trading!
Short
by RaynLim