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Downside

GBP/USD - NEW DOWNSIDE LEG?Despite the GBP's surge on Friday following the reached agreement on migration between the EU and U.K the Pound still looks like it can print a new downside leg. The Monthly candlestick closed below the key support region of 1.3250 and formed a hanging man candlestick which was mirrored on the Weekly timeframe also. Here on the Daily timeframe, we can clearly see lower low's and lower high's being printed with the most recent low printed last Friday 29th June before rebounding back into the refined Fibonacci region of 61.8 and 78.60% which is a great area for reversals. My viewpoint is currently bearish on GBPUSD and today's Manufacturing PMI (Jun) 09:00 GMT may disappoint, I will be holding back and awaiting for Monday's movements to clear away in order to gain further clarity. Candlesticks will be very important in this region as a strong bearish candlestick closure in confluence with a 3rd bounce of the descending trendline could give the signal that i'm looking for.
Short
by ozzypfx
Weekend Quickie- Time to Pick Up Some Protection, Puts on the Q?Are there many reasons for the overall market to go higher? Other than the resolution of U.S. and China trade concerns, there don't seem to be a lot of good reasons for the stock market to rise as a whole. Back in March, traders were discussing "the most anticipated selloff of all time" as trade, political, and monetary fears were sending the market down off its highs. Concurrently, traders were gearing up for a meteoric advance in prices as earnings came in strong. Judging by the price action, these two theories are in vigorous, directly opposed but equal competition with each other, and as a result we can see the QQQ trading in a volatile stalemate. Indeed, most earnings are coming in very strong, but with undertones of lackluster guidance. Guidance aside, market wisdom dictates that good reasons are needed for prices to climb (traders\investors often need good reasons to buy), but prices can fall on their own account. Are there many reasons for the indices to head higher? Are there many reasons for the indices not to fall? As uncertainty continues, traders are considering downside protection with puts or short positions on the market, even as upside bets are being made on certain stocks and sectors. Please like, follow, and share, and maybe we can have fun and do great things together. Thanks again! See it on the site: holsturr.com/category/markets/charts/ ** For speculative and research purposes only - good luck! **
NASDAQ:QQQShort
by holsturr
AMZN DOWNSIDE TARGET COULD SEE 1108 AREA If one looks at at the last I.T. decline dec 2015 to feb 2016 you will see the drop was 31.8 % in the value of the peak and if you look for a similar drop it is 1108 it is also the bottom of the BB bands on the weekly chart . if you look back to 2002 print low every drop on the weekly saw the bottom of the bands before the next major rally the price popped thru the top of the weekly it was a 100 % of the time . as well it will mark a .382 of the rally from that low of 285 to 1618 area. 3th the drop to 1108 area will also be .75% of the rally from sept low 2017 .4th the drop into feb9 was 233 point wave A. times WAVE B UP TO 1618 WAS 1.5 TIMES WAVE A DROP THEREFORE I LOOK FOR THE MAJOR SUPPORT TO BE SEEN AT 1110 TO 1097 FOR WAVE C LOW
NASDAQ:AMZNShort
by WilliamSignorile
XRP/BTC - Talk About Bottomless Pit! Really quick video on XRP / BTC paring since it's been over a week since i updated. In a nutshell, price action has played out exactly as I expected and mentioned in the last video. IT"S GOING DOWN. In that previous video, I mentioned that I thought price action just wanted to move back to the 200EMA on the Daily chart and that appears to be exactly what it's doing. We are only about 300-400 satoshis off from hitting that and my guess.... we are going to hit it. Brightside... we could see a good bounce back up, but it will probably be short lived just considering how this pair moves. Who knows right! I will say... at this level, I think this is great buying ops for myself, but don't take my word for it. I hope you enjoyed... give a like and let me know what you think about XRP paring with BTC.
by Crypto_Sid
5
LTC/USD - Which Way She She Go??Quick update this evening to follow my previous video and updates over the past couple of days. We saw some price action put in a little movement to the upside, which slightly expected, but I really thought we might see a little more downside then we did. We did hit spike down to the $200 mark and pull back. Running through my charts this evening, I'm still seeing a potential for downside, which i explain in the video, but i'm not as confident the dip will be as deep. I could be wrong, but it would appear we're getting a the start of a bit or roll over, but only time will tell. While I'm still bullish long terms, I'm not complete sold that we a full on bull and i should be considering to add to position. I'm going to hold for now and see how tonight and tomorrow play out, as i still think sub $200 is possible.
COINBASE:LTCUSDLong
by Crypto_Sid
ATTENTION! EUR/NZD is at critical point! Here I am with my vision of EUR/NZD pair. It looks like we are at critical point right now. Potential break is becoming more and more real with every price drop below the line. This is a long-term chart and hence the reversal can open the road down to 1.61 support line. On the other hand, it could be a potential bounce upward. Should we jump into/out of the trade? Fasten your seatbelts as the plane is rushing into the turbulence zone. MA (100,50,30,9) are intersecting right now -----> downside formation? -------I would enter the LONG position only if the price reaches 1.70 zone------- --------------------------------------------------------------------------------------------------------- --------------------------------Go SHORT if 1.665 is triggered!----------------------------------- Have a nice trading! I'll come back with new ideas/warnings soon!!
by DmitryQuail
SPX: More downside probableThe US Equity market has been visibly gearing for a correction since mid Jan this year (please see related comments below). A 10% fall in one week is a good start; We are now half way to a new, bear paradigm. Yesterday was technically as bad, if not worse, than Monday: - The S&P 500 was in a downtrend all day; - It fell on greater volume than average (2x); - The downtrend accelerated in the last hour, on increasing volume; - The index closed at the day low and LOWER than the Monday close; - Most technical indicators have now turned negative on most time frames; - Next support levels I am watching --> 2,560 / 2,550 / 2,511 / 2,400 / 2,336 / 2,225 / 2,175 What would it take to claim back the up-trend? - A turn in technical indicators; - A rebound in significant volume; - A sustainability in the rebound and in the volume; - A progressive close above any of the previous opens; - An upward catalyst (earnings, interest rates, policy, etc.) - Most of the above would take time to work themselves out. Please see previous post "SPX: Flashing cautionary signals (again)." for suggested action in the current downtrend. Please be on the lookout for new tactical ideas in a market which promises to be technical, exciting and fun! Motto until further notice: Patience, prudence, do not fight the trend.
SP:SPXShort
by HAL9000
BTGUSD More tradeable downside hereBTGUSD Still running within the same sets of rising parallels, BTG took 10 days to more than double from its lows. A laggard. It's still unwinding, making a similar continuation pattern to the one that has just preceeded it...it may try to rally one more time to 348/9 but once 321 gives way it should fall to 299-289 range, worth shorting. Whilst trapped within the falling parallels from the highs BTG will remain in a weak technical position. To turn back to bullish from here BTG will have to break above 352 and hold (not spike higher and fall away) only then will it look safe to follow for move up to 391. But the chart is saying more downside is likely first.
BShort
by sumastardon
USDTRY USD Turkish Lira Short set-up with big potentialUSDTRY US Dollar Turkish Lira This is striking impulse wave: and when it breaks down it's a fabulous short Cannot short this whilst within the power of this massive impulse wave. But once it falls out of the parallel it becomes a massive short - once broken, look for any retest of the parallel from the underside once broken as a second shorting opportunity with stops above the parallel. This break down could be imminent...worth watching this one. It could come all the way back down to the longer term trend line, given enough time. It will likely form a trend as it does so...draw in the parallels as it emerges and stay short whilst it's trapped within them. Good one, looks like, even if a little exotic. A trend is a trend, wherever it originates!
Short
by sumastardon
1