Bearish Flag
EURJPY - ContinuationThe price seems to be starting to form a bearish flag, it is still in its early stages, it should give us an idea within a couple of hours if the price is forming a bearish flag or not. The price had recently dropped a lot, this had cause the RSI to move into an area of being oversold. The price is currently in a period of consolidation, this would allow the RSI to position itself, A careful eye needs to be kept on the price, as it is very likely that the price would break out within the coming hours. The price is much more likely to break out the bottom of this flag confirming a continuation of the downward trend.
GBPUSD - ContinuationIt seems like this pair is going to be moving down even further than it already has, this comes from the fact that a bearish flag is forming. The flag had started to form as the RSI hit the oversold level, meaning this could very well be a period of consolidation. An eye should be kept on which side the price breaks out the flag, it is very likely that the price would break out the bottom, sending this pair downwards. I will keep this graph updated over the coming days.
Crude WTI Oil Short 1 Hour Trade IdeaCrude Oil Short
After seeing the first drop at 60.25, oil has been declining ever since.
And a bearish flag pattern is seen on the 1 hour.
I see this as a CP (Continuation Pattern)
To tie in this thought, I also see compression into demand where buyers keep buying until it reaches an area where supply exceeds demand and it quickly falls,
Within that blue zone, price will form supply once more and freefall.
This is a high probability, low risk trade forming.
Easy 6R trade!
Until next time beloved!
Analysis on AUDSGD 2019-20As market break the Bearish Trendline, a recent resistance line at 0.9687 became an important level to look at, if AUDSGD fail the break to the upside of the parallel trendline is a high possibility that AUDSGD will be trading lower than 0.9569*.
I'm certainly more bearish than bullish on this counter as for now.
USDJPY Sell IdeaD1 - Price reached a critical zone, bearish divergence, moved lower and broke below the trend line.
Currently it looks like the price is retesting the trend line breakout.
H1 - Bearish flag, once we get a valid breakout below the bottom of this flag, we may then start looking for sells with bearish evidences.