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Bearish Flag

EURNZD, daily tf, double top with consolidation As you can see on the daily timeframe there is a double top pattern formed. Price already broken below the support with a big bearish engulfing candle. This upwards movement could be only a retracement before further drop in this pair. Price spent several weeks consolidating inside 1.6820-1.6660 area which also looks like a flag pattern to me. Sell EURNZD 1.6760 Stop loss 1.6820 Take profit 1.6400 (6R) Use only 1-2% risk Good luck
Short
by HayatoDragonFX
1
1100+ Pips In ProfitGood day guys, if you took this gold position, since I posted it, you are in well over 1000pips. If you took it from May 3rd, you should be in profit over 450+ pips or yesterday, you are up 200+ pips. What another push for all the bullish momentum into Gold. We have now reached the trend zone and I placed a sell limit position in at 1832. You know I am all about placing my position into profit. I am an early bird, however, I want you all to place your SL into profit with the buying position, especially, if you took the trade. Another phenomenal setup. There is more value in finding a trade you can hold for a week+ versus trading and scalping everyday. As far as the selling position, you guys can hold off and I will keep you updated with that position. Back to gold, with all the bullish headlines, there is a lot of euphoria that will come, when the move has already occurred, it is already too late. The markets will look to trap lagging bull traders into the market, by driving price in the opposite direction. That is where we will profit again. Be sure to like, comment and share your thoughts or our postings with friends and family. We appreciate you for checking out our post and remember, we will see you on the other side. Rodrick (CEO) Third Eye Traders
OANDA:XAUUSDLong
by ThirdEyeTraders
3
FLAG PATTERNS & PSYCHOLOGY BEHIND BULL AND BEAR FLAG FORMATIONSHi everyone and Good morning. Welcoming you back (after 18-week break) Thanks for your like and supports. This is Part 3 of my Technical Analysis series of CHART PATTERNS BULL AND BEAR FLAGS Now, for those meeting the words BULLS and BEARS for the first time, these are terms used to describe the buying and selling action of traders BULLS generally refer to the price action of buyers as they drive Stock PRICES UP, while BEARS refer to the selling action of sellers as they drive stock PRICES DOWN. For starters, let’s define what a Flag pattern is: A flag pattern is a TREND CONTINUATION PATTERN . It is named a flag pattern because its formation resembles a flag on a flagpole. The pole is usually the result of an almost VERTICAL RISE IN PRICE, and the flag part results from a PERIOD OF CONSOLIDATION When the price breaks out of the consolidation range, it triggers the next move higher. Flag patterns can either be BULLISH or BEARISH. Follow me closely, as We will now look at BULL and BEAR Flags in turn: BULL FLAGS Bullish flag formations are found in stocks with STRONG UPTRENDS. They look something like (sketch 1 on chart) As can be seen on the sketch 1 chart above, the pattern starts with a STRONG, ALMOST VERTICAL price spike, that eventually start losing steam forming an orderly pullback where the highs and lows are parallel to each other forming the FLAG in the form of a tilted rectangle. The tilted rectangle (flag) usually breaks to the upside resulting in another powerful move higher, usually measuring the length of the prior flag pole (Let’s consider the sketch 2 chart) Now let’s look at BEAR FLAGS : The bear flag is an upside-down version of the bull flag. It has the same structure as the bull flag but inverted. looks like sketch 3 As can be seen above, the flagpole forms from an ALMOST VERTICAL price drop, which is followed by a period of consolidation, with parallel upper and lower trendlines forming the flag. A break of the support structure of the flag, results in another move lower, with the same length as the prior pole. Just as with any Chart pattern, there is usually psychology behind its formation. Let us look at the PSYCHOLOGY BEHIND BULL AND BEAR FLAG FORMATIONS: On bull flags, the bears (short sellers) get blindsided due to complacency as bulls (buyers) charge ahead with a strong breakout causing bears (short sellers) to either panic and cover their ‘shorts’; or add to their ‘short’ positions. Once the stock is in the consolidation stage, the bears (short sellers) regain some confidence and they add to their ‘short’ positions with the expectation of a price drop; only to get trapped again when the price break to the upside causing short sellers to cover their ‘Shorts’ thereby driving prices even higher Since some short-sellers from the initial flagpole run up may still be trapped, the second breakout forming through the flag can be even more extreme in terms of the angle and severity of price move. That is precisely the psychology behind BULL FLAGS; and that same psychology applies on BEAR FLAGS, just in reverse. Now let’s consider the sketch 4 on how we can make money from bull and bear flags: On a bull flag, you typically want to enter a Long trade on a breakout to the upside. Take profit target should be the same length as the prior flagpole. Stop loss should be placed just below the broken resistance line, which will now be acting as support. I will leave it here for this week, that’s all I had in store for you. Follow me And JOIN me again next week as we will be talking about another Chart Pattern that works. Until then, here is to Profitable trading!
COINBASE:BTCUSDEducation
by TaherJalili
6
US100 13756.0 + 0.04 % SHORT IDEA * PRICE ACTION & STRUCTURE HELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE IN THE MARKET THIS WEEK, HERE'S A LOOK AT THE NADAQ INDEX. * follow your entry rules on entries * significant moves with the bears change the plan. lets see how it goes. many stars must align with the plan before executing the trade, kindly follow your rules. HAPPY TRADING EVERYONE & LET YOUR WINS RUN... _________________________________________________________________________________________________________________________ ENTRY & SL - FOLLOW YOUR RULES RISK-MANAGEMENT PERIOD - SWING TRADE __________________________________________________________________________________________________________________________ If this idea helps with your trading plan kindly leave a like definitely appreciate it.
UShort
by PULEMokhothu
Ranging Gold MarketHey guys, I trust you are in good health and enjoying your weekend with your loved ones. An interesting week we had and more interesting weeks ahead, with volatility growing each day as we head into spring 2021. This spring season is extra important, as most developed countries have been vaccinating their people and the expectation is that these economies can get out of their lockdowns soon & governments can make up the balance of the damage. These events will have a major impact on markets - the equities and goldmarket in particular. On the technical side, we have a nice inverse H&S pattern on the daily chart with targets 1785 (38.2 fibo retracement level from 1960) and 1805 (gap closure). Also the daily RSI is above 50 since months and the latest COT is superbullish with an increase in net long positions of +22k contracts. The daily chart is currently in a bullchannel . Bears want this bullchannel to turn into a bearflag targeting 1680 and 1650 from the supply zone . If bears succeed to bring the price to 1650, they will have a break of the April 14th 2020 low and more downside is expected in the goldprice with potential bearish targets 1550 and 1450. Ofcourse before that, bulls will try to turn 1680 into a triple bottom , if they succeed they will have setup a major support zone which will function as a platform for a potential rocket to 2100. For the coming week I am planning to buy the 1735-1740 zone with targets 1785 & 1805 and will start selling after the gap gets closed. We might go a bit higher around 1808. For the gaptraders it is important to know that the gap indicates a supply zone, so I am expecting strong bearish PA after the gap gets closed. I will be looking to rebuy the 1680 zone with targets 1820 & 1850 (50 & 61.8 retracement level from 1960). All too early for now, but one can dream right? :) In short, a ranging market for the coming weeks and a lot of pips to scoop. Keep the scooping blue 😏, Cesaro
OANDA:XAUUSD
by CesaroPelucci
GBPUSD-Weekly Market Analysis-Mar21,Wk4GBPUSD is in a sideways consolidation. This setup allows us to trade within the zone(green box). The setup is safer when we are shorting from the top of the green box, than buying from the bottom of the green box, and the reason for that is the previous bearish trend which coincides with the starting point of Point X on the Bearish Shark. However, if you are an aggressive trader, buying within the box can work as well and in the long run as long as you aren't flustered nor overtrade, you will be profitable.
Long
by RaynLim