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Bearish Patterns

PEPE HOLDING LEVEL AND AIMS HIGHERWe can see that pepe has tapped the high timeframe level below and has managed to closed the last few 4hr candles above the POC. This is bullish and i expect an attempt to do a full value rotation. Calculate Your Risk/Reward so you don't lose more than 1% of your account per trade. Every day the charts provide new information. You have to adjust or get REKT. Love it or hate it, hit that thumbs up and share your thoughts below! This is not financial advice. This is for educational purposes only.
by Navitility
Economic Indicators and DXY: Navigating CPI and FOMCHello Traders, In today's trading session, we are closely monitoring the DXY for a potential selling opportunity around the 105.700 zone. The DXY had been trading in an uptrend but recently managed to break out of this trend. Currently, it is in a correction phase, approaching the key retrace area at the 105.700 support and resistance zone. This level is crucial as it has historically acted as a pivot point for price action. However, it is essential to consider the broader economic context, particularly with two major events on the horizon: the release of the US CPI (Consumer Price Index) data and the FOMC (Federal Open Market Committee) meeting, both scheduled for tomorrow. The CPI data will be a critical indicator of inflationary pressures within the US economy. A higher-than-expected CPI reading (a hot CPI) would indicate rising inflation, which could prompt the Federal Reserve to adopt a more hawkish stance. This would likely involve tightening monetary policy further, potentially leading to a stronger US dollar. In this scenario, we would reconsider and likely cancel our short position on the DXY, as a stronger dollar would work against the trade setup. On the other hand, if the CPI data comes in softer than expected, indicating lower inflationary pressures, the Federal Reserve may lean towards a more dovish stance. This dovish outlook could involve maintaining or even easing current monetary policies, which would likely weaken the US dollar. A weaker dollar would support our bearish view on the DXY, making the 105.700 zone a favorable entry point for short positions. Additionally, last week's Non-Farm Payroll (NFP) report also showed robust employment numbers, adding another layer of complexity to the Fed's decision-making process. The interplay between strong employment data and CPI readings will be crucial in shaping market expectations and the Fed's policy trajectory. In summary, while we are looking at the 105.700 zone as a potential selling point for the DXY, it is imperative to stay alert to the upcoming CPI and FOMC announcements. These events will provide significant insights into the US economic outlook and the Fed's policy direction, both of which are pivotal for our trading strategy. Trade safely, Joe
TVC:DXYShort
by JoeChampion
9
ETH/BTC REVERSAL?Could we finally see a breakout of the downtrend channel now that ETHBTC has bounced off the range bottom? Bullish scenario: If we see a breakout of the trend channel and new HH & HL then ETH could finally be ready to move up after the approval of the ETH ETF's. Bearish scenario: If the range low is lost and price is excepted at those levels then the downtrend continues... I do think the general market did not expect an ETF approval so soon and so the inflows we saw for BTC were just not ready to capitalise on the ETF.
by ProR35
EURJPY - Follow The Bears!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 EURJPY has been overall bearish, trading within the falling red channel. Currently, EURJPY is undergoing a correction phase and it is currently approaching the upper bound of the channel. Moreover, it is retesting strong supply zone marked in blue. 🏹 Thus, the highlighted red circle is a strong area to look for trend-following sell setups as it is the intersection of the blue supply zone and upper red trendline acting as a non-horizontal resistance. 📚 As per my trading style: As #EURJPY approaches the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
2
AUDNZD:RBNZ is outhawking RBAHello Traders, In the upcoming week, we are closely monitoring AUD/NZD for a potential selling opportunity around the 1.08200 zone. AUD/NZD is currently trading in a downtrend and is undergoing a correction phase, approaching the key support and resistance area at 1.08200. This level has historically acted as a significant pivot point for price action, making it a strategic entry point for potential short positions. From a fundamental perspective, the Reserve Bank of New Zealand (RBNZ) is maintaining a more hawkish stance compared to the Reserve Bank of Australia (RBA). The RBNZ has shown no intention of cutting rates in the near future, which contrasts with the RBA's more dovish outlook. This divergence in monetary policy is likely to exert downward pressure on AUD/NZD, reinforcing the bearish trend. Trade safely, Joe
Short
by JoeChampion