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Donwtrend

GBPUSD Retest Completed, Downside Continuation ImminentThe price recently broke out of the ascending channel (4H) and now appears to have retested resistance. The price seems to be rejecting resistance around 1.27337 and converging with the 38.2% Fibonacci retracement level. It seems to have failed to make a new higher high, forming a lower high instead. I anticipate that the price will continue to move downward. **Rationale:** ~ Breakout of channel ~ Retest of resistance level ~ Resistance and 38.2% Fib retracement convergence ~ Rejection candlestick patterns forming ~ Possible lower high forming **Disclaimer:** My trading ideas are market predictions and therefore should be viewed as such. As an intraday trader (scalper), I use my observations to identify potential trade opportunities on the higher time frames. I then aim to pinpoint key entry points on the lower time frames. Entries should always be verified by additional confirmations. --- #scalping #intraday
Short
by Forexity
GBPUSD: GBPUSD trend today December 19The dollar index fell 0.1% as markets weighed potential timing of 2024 Fed, ECB and BoE rate cuts and whether the BoJ on Tuesday will offer more clarity regarding when they might hike. That came after last week's dovish Fed and hawkish ECB and BoE meetings and Fed speakers' pushback against big 2024 rate cut pricing. EUR/USD rose 0.3% in line with the Bunds-Treasury yields spreads rebound fostered by more ECB policymakers arguing against early 2024 rate cuts with disinflation metrics not yet met. But German Ifo business sentiment worsened, creating risk of a second quarterly GDP drop and thus recession reading.
Short
by NicoTradingMaster
2
GGRC11 Possible downtrend start Price is below the 20 period moving average and is now testing a support line(light blue 116.68) which is a key support due to the fact that it acted already as support and resistance in the past for a few times. This area is also a convergence point between the support line(116.68) and the 56 period moving average(dark blue) and downtrend line(light purple). If price respect the downtrend line and goes bellow the 56 moving average and reject the support line(116.68) it is possible downtrend start. Strategic I will wait to see if a downtrend start or if the price will revert and continue the big uptrend. If the uptrend is confirm by respecting the moving average, the support line and pass over the downtrend line and forming a higher highs after, I will by in the confirmation to increase my position. If the downtrend is confirmed then I will wait more until I saw another sign to increase my position with a lower price.
BMFBOVESPA:GGRC11Short
by gmm_invst
DOGE - AT A GLANCEM1 : What else ? Doji pattern in progress with extremely long shadows ! W1 : Currently below the weekly pivot level of 0.4108 D1 : Ongoing downtrend price action H4 : Facing clouds resistance area and currently below TS and MBB H1 : Triangle pattern, trigger level activated target 0.2900 currently below the clouds M30 : In an ongoing downtrend channel, below the middle of this channel ! M15 : Former support trend line (in green) broken, below the clouds M5 : Below the clouds CONCLUSION: THE TREND REMAINS ORIENTED TO THE SOUTH AND ONLY A CLEAR BREAKOUT OF THE 0.3800 AREA WOULD FORCE TO A VIEW REASSESSMENT OF MY EXPECTED BEARISH SCENARIO CALLING FOR LOWER LEVELS !
BITFINEX:DOGEUSD
by Ironman8848
POSSIBLE USDCAD SHORTS TO 1.259 REGION?Currently looking at a possible downside move on USDCAD to 1.259 region of support as the DOLLAR has been unable to take over buy momentum from the CAD. We may possibly see price continue to drop to the aforementioned levels. let's see how this goes. Daily and hourly trend indicates down. As the saying goes "follow the trend wherever it goes". So what are your thoughts on this analysis? drop them in the comments below. Leave a like if you think this was helpful.
Short
by marketconqueror
NQ1 - D1 - WATCH CAREFULLY MBB @ 13045D1 : Despite a strong recovery attempt, yesterday's closing price @ 13186, did not confirmed yet that the downside risk is over. Indeed, the failure to close, at least above 13306, which is the middle of the former long bearish black candle is a first signal that the ongoing new bear trend is in progress. Today's price action will also be decisive for further development as we will have triple closing (D1,W1 and M1) An important leading indicator remains the Mid Bollinger Band (MBB) which is currently @ 13045 and as you can see worked perfectly well as a barometer indicator. Bearish scenario : A failure this evening to close above the psychological of 13000 should open the door for lower levels, having in mind 12584, 12271 and 11957 (Fibonacci retracements) as strategic targets. Interesting to note that the levels previously mentioned coincides also with the clouds support zone ! Bullish scenario : In order to return in a bullish mode, we need to see this evening, at least a closing above 13306 which would trigger a "piercing line pattern" or much more better a closing above the former high which would make a new high and trigger a "bullish engulfing pattern" calling for an upside extension. H4 : Currently traded below : 1) the downtrend resistance line 2) MBB 3) Kijun-Sen 4) Tenkan-Sen A failure to hold above 12850/12800 would trigger further selling pressure H1 : Once again clouds acted perfectly well as an important level to break in rejecting around 13400 the recovery attempt
CME_MINI:NQ1!
by Ironman8848
NZD/CAD Strong trend to the downsidePretty sure a lot of traders were focusing on this monthly bull flag - continuation to the uspide for the longer term hold (blue circle) But price fall off of that and change direction to the downside... As we can see we are in major ascending channel with falling wedge within it as middle section to push price towards that 3rd upper touch before big short, but lower bottom line on wedge before that is what i looking for. I expecting this to continue to the downside to break major chanel as false breakout and to push upside from this minor falling wedge... So on lower time frames we could get continuation trend "Sell" Entries..Probable I will put screenshots in comments of all timeframes and how could we catch donwside moves , ofc if they happen.
Short
by IvanKumburovic