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Bearsignal

AUDJPYHello Traders In this round of AUDJPY we look at a bearish flag, rising wedge or. whatever you may call it. I'm calling it easy money. In my opinion the trend. has started, the wedge is broken and a sell is in play. Will be updating during the week if required or. requested. Follow me for updates during the week and join the discussions on Telegram with "Quickpips Free Chatgroup" - I'll put the link on my status! :) Happy trading Roo :) Please remember I am a hobby trader, this is not financial advice and any losses or gains are your own! Be sure to like and comment on the chart and follow me on trading view.
Short
by RuairidhFX
SPX Bearish Scenario (Daily chart)Price closing below the support zone (yellow rectangle) is already a fairly bearish sign. That said, it's a very bearish (short-term) sign if price re-tests the median line (red downward slopped line) of the smaller, down-trend, pitchfork that I drew on the chart. If that were to happen, a trade could be planned off of the correction to that median line test. Ideal entry would be a re-test of support (turned resistance) zone, especially if it happens in confluence with a test of the 1.0 pitchfork level (first solid black line above the red median line). If you zoom out, you can take a look at the long time-frame up-trend pitchfork. You can see that it was strong trend by all the median line tests. If the -0.5 level (first dotted line below the up-slopped red line) is breached, this is bearish behavior, considering that this level has held through so many tests. I drew out what I consider to be a fairly high probability price path, IF the median line test happens.
TVC:SPX
by JamesBrown