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Downtrend

GBPJPY - 29/06/2023 30 Min TF [Short]29/06/2023 - 30 Min TF After a long Bullish run, we can see on the 30Min & 1 Hour timeframes there has been a shift move in momentum in the last few days. The market has been highly bearish so we will be looking for sells in the market. The market has been highly bearish so we will be looking for sells in the market. Dispite the bullish momentum on the Weekly & Monthly timeframes. Recent news articles also points to a potential Bullish run. Raising interest rates also supports the idea of a longer Looking to enter a trade after price has broken above area of resistance, & it has come back to close below the zone. 1:1 Risk-to-Reward or higher win rate ratio Happy Trading! Supreme Trading Society DISCLAIMER: All trades are just my own ideas and should not be taken as a signal. Follow me for more ideas
Short
by SupremeTradingFX
GOLD will fall more currently the gold is moving between a bearish channel and is broken below the weekly resistance ..in that case it would be fall more until 1880 weekly support which was previous resistance .in that point gold seems quite bearish .we can see the daily demand around 1910 area was actived and price moved to 1930-1936 area again. on other hands , IF the gold trade above 1940 means ,the bulls back in to tha market then turn the trend to bullish side .currently we are only looking for gold selling opportunities until it trade below 1930 and 1940 area. also the MACD histogram is giving a negative signal and that means there has a higher probability to sell on gold good luck for this week.. OANDA:XAUUSD
OANDA:XAUUSDShort
by rasindu2003
BTC: Tired bulls against raging bearsThe 30K psychological range was strong, since price orbited for days around it, as you've seen. But Bitcoin's price has recently started to decline, primarily due to the impact of the violet line on the ascending price candles. This impact can be seen as a signal to the bulls that they have hit a resistance level and should exercise caution. While it is not always the case, many times when the violet line touches the price, it triggers a reversal. In my previous post, I estimated this "impact" to occur around 31,200. However, it actually happened at a lower price two hours ago, as indicated on the chart. Based on current conditions, I don't anticipate the price reaching or surpassing 31,500 in the near future. Consequently, I am currently adopting a short position in my approach, but I am waiting for the price to fall below the WHITE "stairs" line twice to confirm this short scenario. There was a fakeout crossing of the red and blue lines, which should have occurred but didn't. This indicates that the bears have enough strength locally, particularly within the 1-hour period. My short-term forecast remains the same as in my previous post: the price is likely to drop to 29,500 and linger there momentarily before further descending to the range of 28,000-28,500. Around the 28,000 mark, we will need to conduct another analysis to determine if the price is inclined to go as low as 25,000 or even lower, or if it will rebound instead. Please do not rely solely on my words. Conduct your own thorough analysis, re-analyze the data, and make your own decisions. Trading is a challenging endeavor that requires careful consideration. Atémak
Short
by TradeWithAtemak
1
Sideways Trend Example: ❗️Unleashing the Secrets of the Forex Market: Identifying Trends Made Easy❗️ 💲As traders, one of the most essential skills is the ability to identify trends. In this article, we will embark on a journey to unravel the mysteries of the forex market trends like never before. So, fasten your seatbelts, get ready for an adventure, and let's dive in! ↗️The Smooth Sailing - Uptrends: Picture yourself in a sailboat on a calm, sunny day, with the wind gently pushing you forward. This pleasant scenario beautifully represents an uptrend in the forex market. Uptrends occur when the price of a currency pair consistently increases over time. To identify an uptrend, keep an eye out for higher highs and higher lows on your price charts. Uptrend Example: ↘️Rough Waters - Downtrends: Now, let's transform our tranquil sailboat into a powerful vessel battling against fierce waves and gusty winds. Similar to this scenario, a downtrend indicates a series of declining prices in the forex market. To recognize a downtrend, look for lower lows and lower highs on your price charts. Downtrend Example: 🔄The Eye of the Storm - Sideways Trends: Imagine yourself caught in the eye of a storm, where the winds calm down, and the waves become gentle ripples. This serene moment perfectly mimics a sideways trend in the forex market. Sideways trends occur when the price moves within a relatively tight range, lacking a clear direction. To spot a sideways trend, locate horizontal support and resistance levels, and observe price movements bouncing between them. Sideways Trend Example: 📊Interpreting the Elements - Indicators: Just as sailors use compasses and maps to navigate the open seas, traders have powerful tools at their disposal to identify trends in the forex market. Technical indicators, such as Moving Averages, MACD, and RSI, provide valuable insights by analyzing past price data. These indicators can help confirm and strengthen your trend analysis. 📈The Art of Patience - Confirming Trends: Sometimes, identifying trends in the forex market can feel like searching for a needle in a haystack. Therefore, it is crucial to exercise patience before jumping into trades. Waiting for confirmation is vital to avoid false signals. Look for multiple indicators aligning with your identified trend before making any decisions. 💹Riding the Waves - Trend Trading Strategies: Once you've identified a trend in the forex market, it's time to ride the waves and potentially profit from it. Trend trading strategies involve jumping on board during an established trend and holding positions until signs of a reversal appear. By keeping emotions in check and adhering to risk management principles, you can increase your chances of success in trend trading. 🧠Conclusion: Navigating the vast and ever-changing forex market can seem like an exhilarating adventure. By mastering the art of trend identification, you hold the key to unlocking potential profits. Remember, whether you're sailing through uptrends, weathering downtrends, or calmly cruising sideways trends, a combination of technical indicators, confirmation, and patience should guide your decision-making. So embrace the wonder of the forex market, and may your trend-spotting skills be forever sharp! 😸Thank you for reading buddy, hope you learned something new today😸 Do you like this post? Do you want more articles like that?
Education
by ProSignalsFx
11
IWM: Something is Rotten in the State of MarketsPrimary Chart: IWM on a weekly timeframe with downtrend line and major support and resistance zones Note1: IWM is an iShares ETF that represents the Russell 2000 small-cap index in the United States. Though not as widely tracked as SPX, NDX, or DJIA, the Russell 2000 ( TVC:RUT ) is one of the major US indices. It is likely the fourth most watched US index. Note2: The phrase "something is rotten in the state of Denmark" is a well-known line from Shakespeare's play Hamlet used to describe a situation where something is wrong or even corrupt within a government, institution, or system. No corruption is intended to be implied discussed. The title's allusion to this phrase is meant to suggest only that something is off / wrong in the markets, i.e., that everything is not well despite the strength of the Nasdaq 100 lately and the support seen in SPX. The Russell 2000 (IWM) is often a leading indicator in US markets. It led to the downside in early November 2021 after a false breakout out of its 2021 topping-pattern's resistance around $234. SPX topped nearly two months later on January 4, 2022. While small-caps are not necessarily always the first to make a move, it is something frequently cited by commentators and analysts. The primary chart shows how IWM has struggled below the upper blue rectangular zone, a resistance / supply zone going back to highs in March and April 2022. This zone also rejected price at the end of the impressive August 2022 rally that had everyone debating whether the bull-market had returned in earnest. Lastly, on February 2, 2023, IWM was unable to even tag the lower edge of this zone, eking out a high at $199.26. The lower edge of this blue resistance zone as drawn here is at HKEX:200 - HKEX:201 approximately. The Primary Chart above also shows an important Fibonacci support level at $170. This the 50% retracement of the entire bull market from the 2020 Covid lows to the highs in November 2021. This has also marked important support since late October 2022 (a week or two after the October 2022 lows). Notice the weekly candle wicks protruding below this line but recovering back above it. The final point about the Primary Chart is the down TL from the all-time high in magenta. This was broken to the upside, which was one of the reasons many market participants and commentators got excited about the bear being complete. That trendline was retested in late March 2023. But despite this positive development, IWM has not acted well. In fact, it has broken decisively below a multi-month upward trendline from October 2022 lows as shown on the Primary Chart as well. This trendline was also important and signifies weakness on the decisive break below it. On the larger scale, price is trapped between the blue rectangular zones of support and resistance. Until these break, not much progress is likely in either direction. Sideways action is likely for the coming weeks. The one thing that would negate the sideways action view is a clean break back below the down trendline from the all-time high. So keep an eye out for that development. Next, Supplementary Chart A.1 and A.2 below shows a hypothetical illustration of how price could move sideways for the coming weeks / months before a flush below major support (if one is bearish about equities generally) or a rally above the key resistance zone (if one is bullish about equities generally). SquishTrade gives an edge to the bears in the intermediate to longer-term time frames—as long as price stays below both (1) the uptrend line from October 2022 lows, and (2) the key Fibonacci levels of the most recent decline (shown on the Primary Chart at $183.36 and $187.11). Supplementary Chart A.1 (measured corrective move upward where the legs of the corrective move might be equal or share a 1.272 Fibonacci relationship) Supplementary Chart A.2 (choppy sideways action that retests the upward TL from the October 2022 lows that had broken down in March 2023 before heading lower again) Supplementary Chart B is a zoomed-out version of the major resistance and support level shown on the Primary Chart. This is intended to show the ranging action for months that has taken place despite periods of seemingly impressive strength and sharp weakness. Supplementary Chart B The next chart, Supplementary Chart C, illustrates what a trendline might look like if someone were considering this chart afresh, i.e., for the first time without having tracked the prior trendlines during the 2021-2022 bear market. The TL has been re-drawn to account for the recent major highs at the end of the January to February 2023 rally. Supplementary Chart C IWM's anchored VWAPs are not encouraging. Here, the only VWAPs considered are the one anchored to the all-time high in November 2021 (blue-purple line) and the 2022 low (orange line). Price made a false breakout above the VWAP from the all-time high and failed back below. That in itself is a negative especially given that this occurred on a larger time frame going back to 2021. Price has also failed below the October 2022 VWAP as well. Supplementary Chart D Finally, and most importantly, consider the ratio spread of IWM/SPY in Supplementary Chart E below . This tracks the performance of the Russell 200 relative to the S&P 500. This is why something might be rotten in the state of Denmark (markets). A healthy market should not have an index looking this bad. Let me know what you think in the comments. Supplementary Chart E The ratio spread shows that IWM's underperformance just broke below a key support level for that ratio. But bigger support lies below. However, the overall picture looks bleak for IWM with a downtrend line that has lasted for a while, and lower highs for the ratio's value on higher time frames. ________________________________________ Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed. Please note further that this technical-analysis viewpoint is short-term in nature. This is not a trade recommendation but a technical-analysis overview and commentary with levels to watch for the near term. This technical-analysis viewpoint could change at a moment's notice should price move beyond a level of invalidation. Further, proper risk-management techniques are vital to trading success. And countertrend or mean-reversion trading, e.g., trading a rally in a bear market, is lower probability and is tricky and challenging even for the most experienced traders. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
AMEX:IWM
by SquishTrade
18
Bitcoin's Psychological 30K: Uncertainty and PotentialBitcoin has reached the psychological barrier of 30K, likely triggering a temporary pullback to around 28K. At 28K, uncertainty arises: a strong climb to 32K is expected if bullish momentum persists, while falling below 28K could test the 25,800 support level. On the Weekly, the scenario is still bullish though, but starts to weak a bit. PS: I'm happy to see that the price didn't fall under the 25K support, and climbed as stated in my previous posts. But for now, I would say there is a little slowdown in the bull movement. I hope it is just local and temporary. We need extra candles to be more sure of the bullish strength, if it will last or not (even if there was the sudden surge which reached 30K). My bullish goal is 49K, but it's really far from now.
Short
by TradeWithAtemak
3
🪙📉 Gold: Double Top Breakdown - Get Ready for a Bearish Ride! Attention, traders! We have an enticing bearish setup in the Gold market on the daily timeframe. The key to this setup lies in the formation of the double top pattern, where price establishes two prominent peaks at approximately the same level. This pattern serves as a robust bearish reversal signal, indicating a potential downtrend ahead. As price stagnated below the neckline, which acted as a strong resistance, the bearish sentiment intensified. During this period of consolidation, a trend continuation triangle has taken shape. This triangle formation further reinforces the bearish bias, suggesting that the downtrend is likely to continue. As traders, we can leverage this setup and seek opportunities to profit from the downward movement. Looking at the indicators, the moving averages continue to show a bearish momentum. These averages not only act as resistance levels but also validate the bearish bias. The convergence of these factors further supports the bearish outlook, providing additional conviction for traders to consider entering a short position on Gold. With all these elements in place, it's time to seize the moment and enter a short position on Gold. The initial take profit level can be set around 1910, where we can secure partial profits and capitalize on the downward momentum. However, our ultimate target lies around the 1855 area, aiming to capture the potential continuation of the downtrend. As you navigate this trade, remember to take significant profits when approaching the target area, as it represents a crucial support zone. Please respect money management, dont place more than 2% on that trade also. Lets trade the trend ! happy trading !📉🪙 And don't forget to press the like button if you think this insight was helpful 🚀💪
OANDA:XAUUSDShort
by Thomas_Zito
8
USDCHF to 0.885 this week - you?For Day 33/100 of our challenge, we will dive into USDCHF downside risks for the week ahead: Technicals: - Overall downtrend - Resistance created on previous support 0.91 - Break of 0.90 key level via bearish impulse - Looking to enter on 0.90 retest / 62% fib - Weekly target at 0.885 - Trade invalid if 0.905 breaks to the upside Fundamentals: 🇺🇸 Rate markets not convinced of Fed's proposal of two more rate hikes. Failure to convince this week will weigh on USD 🇨🇭 Expected to raise rates by 25bp this week and remain with hawkish narrative. Other EZ central banks raising rates this week will also help CHF gain some strength potentially. What's your take? Like and follow for daily high-quality trade ideas!
Short
by rob_WRLD_
3