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Bearish Flag

MULTI-TIMEFRAME ANALYSIS - XAUUSDXAUUSD, Gold, recently tested its support zone on the 1D timeframe. It seems to have been rejected by rejected though. 1D Analysis The Friday candle closed as a bullish candle after testing the support zone with the previous days candle. The pair can be seen inside a descending parallel channel, bullish flag. Within that bullish flag the pair was also within a smaller bearish flag that it recently broke out of which initiated the sell after its re-test. The pair might be heading to re-test the resistance of the bullish flag if it doesn't gain enough selling pressure to re-test the support zone and eventually break it. 4H Analysis The pair closed its last 4H candle as a bearish open marubozu which indicates lack of selling pressure towards the close of the candle. The two 4H candles preceding the bearish open marubozu had re-tested the support turned resistance zone before getting rejected. We can expect the pair to head towards the support turned resistance zone once again if it doesn't gain enough selling pressure to continue the downwards move. If it however does gain enough pressure then we can expect the pair to head towards its support zone by breaking the trend line support. 1H Analysis The pair can be seen within an ascending triangle which it attempted to break to the upside but got rejected by the 4H support turned resistance zone. After dropping back inside the ascending triangle the pair dropped into an ascending parallel channel, and seems to have tried to retest its resistance but was not successful. If the pair manages to break the channel to the upside it might result in it breaking the resistance of the ascending triangle, if not we might see the pair head to test the support of the channel which also turns out to be the support of the ascending triangle. A break below the channel might result in the pair heading towards the 4H support zone. Conclusion Monitor the pair on the 1H timeframe to see exactly what the pair does and how it coincides with the 4H and 1D in order to make an accurate trading decision. If you liked this analysis make sure to give us a thumbs up, leave us a comment and make sure to follow us for future ideas 👍❤
OANDA:XAUUSD
by JJForexAcademy
2
USD/CHF 🇺🇸 🇨🇭 to decline and bounce!USD/CHF 🇺🇸 🇨🇭 has recently retested the strong Uptrend. The price was rejected by the 0.91565 lvl. The ROC 9 swing at the 4H chart together with the bearish flag at the 12H chart with ROC 9 oversold and Stochastic crossover suggest that the price is going to decline. Below we have the 0.91379 and the Uptrend from where the price is expected to bounce! If you like the idea PLEASE don't forget to hit the LIKE 👍👍👍button Also share your thoughts and charts here in the comment ⌨️ section.
Short
by Alexander_Harford
4
CADJPY - ShortCADJPY is showing a bearish flag. The long downward trendline is the 'flag pole' leading up to the flag. In the flag pattern, the price makes higher lows and lower highs to make a 'flag-like' pattern. Eventually, price will break out of this pattern. The trend before the pattern was created was bearish with a dominant downtrend. It is likely that the price will break below the pennant glad and continue this downward trend. Before entering a short trade here, I will wait for confirmation of a breakout by 4H bearish candles, and looking for a potential re-test of the trend line before the downtrend plays out.
Short
by francesgurton
1
XRPUSD - Bearish flag //Key Levels + Bearish Flag + Long Term\\Hello, great to see You here! If You would like to see more of trades, press that "Follow" button! Also, don't forget to leave a comment down below, what do You think? -------------------------------------------------------------------------------------- XRPUSD has formed a bearish flag, broke through, and makes a bearish movement. It's like in a book of patterns, a beautiful strong move down, bearish flag, and more of a downward movement. Also, XRP is close to the key level - which is also a resistance. If We break through the resistance level, then resistance becomes a support, and We could retest the level. After that, possible downward movement till the next level, which is @0.17465. If this scenario does happen and We reach the 0.17465 level, it would be a good place to buy XRP (a nice gift for yourself). XRP in long term could pay off very nicely. XRP still needs time, it has been already tested in one of the biggest banks in Spain - Santander (between staff members, aprox. - 7 thousand employes) as a pilot program. Personally bought XRP at 0.14 cents per XRP. The second scenario - We could have a bounce off the resistance level and form a bullish trend. That would be a good scenario for XRP holders, always nice to see green numbers, but patience is the key! Remember to use money, You can afford to lose! I am not a "Financial advisor", so before doing something, do Your own research! ------------------------------------------------------------------------------------- For more free content, please press the "Follow" button and "Like" this post. Thank you and have an awesome day. See You soon, Richard.
BITSTAMP:XRPUSD
by RichardDavisCrypto
Bitcoin had the dropLast TA we talked about how we were in a bear flag pattern and today in the last hour and half of the market we dumped. Now how massive was this move? Well we can see the volume spiked with two 1k candles, yet the second was retraced by half. Looking on CoinbasePro 24hr volume we didn't hit the 10k btc volume, so volitatiy isn't back just yet. As we know a massive move would need that over 10k-to upward in the low 20k btc 24hr volume. Before getting on too the TA we can also remember liquidity is gonna cause massive movement in bitcoin and as more and more people move BTC off exchanges they are losing liquidity. News -Just the stock market dropping over 500 points and continue tech sell off. Again Bitcoin is a means of exchange around the world, but it is correlated towards the Tech sector of the stock market and the dow is mostly tech, so they follow each other. -The dollar is making a comeback, but I don't see the real correlation towards the dxy and the stocket market with Bitcoin. TA -We have dropped out of our flag pattern, yet as I talked about volume we did have a slight pickup, yet it doesn't seem that massive imo -The yellow dotted line as we talked about as the "Slide" is playing out nicely and we are trying to find support around 10256.68 -RSI is oversold, so its bullish -MACD has had its crossover and leans bearish, yet since its under the volume indicators its in an oversold state. -The 50ema is hitting as resitance, so that would be a prime long term target to go back and breakthrough. Most the time in Bitcoin, we usually dip below it for a few hours or day till we flip bullish again. -We are under the high vpvr levels, which means a massive move is expected towads the upside giving us a price target of about 10418 or a little less Final thoughts I think the possibility of going lower is possible, but I would like to see Bitcoin have higher bearish volume to see a sub 10k since it created a lower high bearish volume compared too the sept 21 dump. Key outside factors is to watch the order books. A useful website is tradindviews little brother, tradinglite, which shows you a price range of where the orders are sitting pretty heavy. For now I'm going to stay neutral, but lean bearish.
COINBASE:BTCUSD
by nathanielx9
$GBPAUD - Bearish flag trade setupHello guys! Lockdown announcement will further affect the British Pound. On September 22, prime minister Boris Johnson announced new national rules that could apply for the next six months or more. Do not panic, read the lockdown guidelines first, bars and pubs are still open until 10PM and deliveries are always open, so you will get your boose to watch APL. :) Technicals: GBPAUD has formed a bearish flag and most likely GBP will break the dynamic support and continue the bearish trend in the short-term. Go short from this point and place SL above 1.79000 (risky as it might jump to test the dynamic resistance once again) or wait for a breakout and place a short order there. Up to you!
Short
by realMarketSurfer
EURUSD-Weekly Market Analysis-Sep20,Wk2You see there are 3 scenarios on EURUSD and all 3 I am waiting for shorting opportunity. That's because EURUSD on the daily chart there is an RSI Divergence. If the market can't break and close above the black box, I'll head in for a shorting opportunity base on the bearish flag pattern. If the market head up straight to the red box then I will be looking to sell within the preferred shorting zone(red box). Even if the market break and close above the red box, I'll be waiting at the bearish shark shorting opportunity.
Short
by RaynLim