Palladium, Weekly: Short, alternate bat patternCompletion of alternate bearish bat pattern. Price action in potential reversal zone looks bearish with the potential formation of a dark cloud cover pattern.
Darkcloudcover
Dark Cloud Cover at TL resistanceThe Aussie finished Friday lower, printing Dark Cloud Cover on back of stronger than expected annual wage growth in the US. Reversal candle occurred at falling wedge resistance / former support confluence and pair looks set to resume lower.
Initial support is the .7296 - .7283 hourly zone, with a break below there confirming the top and targeting the lows above .7150. A break above .7365 would invalidate the set up and shift focus to the Dec 14 high at .7525.
GBPUSD Turns Lower From Resistance ConfluenceGBPUSD turned lower earlier in the week, after pair found sellers at resistance zone/channel top confluence. Wednesday saw a Dark Cloud Cover reversal candle, with modest follow through on Thursday. Sellers will be looking to take out rising channel support at 1.32 and counting. A daily close above yesterday's high at 1.3376, would shift focus back on to the resistance zone/channel top above 1.34.
EurJpy is going down to previous lows during next monthFX:EURJPY
The price just bounced off the level that has been respected for a long time on multiple occasions. We also have a dark cloud pattern formed on a weekly chart further confirming downward movement. Also Friday action ended on a 4H reverse hammer. I think we have enough signals to expect strong down moves to previous lows and possibly further to continue the down trend.
Asian Paint "Short" before Q3 Results It seems like Gartley pattern formation and a dark cloud candlestick pattern on the charts, which
Asian Paints "Short" before Q3 Results It seems like a bearish cypher pattern and dark cloud candlestick pattern formation right now on charts, that indicates weakness on charts and bearishness.
I would be interested in selling the stock in this weak markets and put a strict stop loss 896 with Target 1 at 829.
Dark Cloud Cover on Daily EUR/USDA Dark Cloud Cover (Bearish) candlestick signal has formed on the EUR/USD Daily chart. Recommend staying short the EUR/USD unless price goes above signal high at 1.1043. Please manage your risk very carefully especially this week.
Happy Trading! Have a wonderful holiday season!
