US30 Price Action and Weekly Market Structure - Short ObservedObserving US30 on the weekly chart we can see the bigger picture. In the chart we can see that price has been in an overall downtrend since leaving the top level marked. Price is currently indecisive at our most recent lower low/supply zone. Although we have been bouncing around going in no particular direction, we still see signs of rejection to the upside.
Considering we are in an overall downtrend, currently rejecting to break the previous lower low, several major bearish rejections, a few pinbars, I will be holding a short position to the next major level.
Downtrend
✅GOLD KEY LEVELS📊
✅GOLD is trading in a
Downtrend so I think it will
Go down further and retest
The support level 1
After that we will see
The price either go down
Towards the support level 2&3
Or we will see a change in the
Direction and the resistance 1&2
Will take the hit again
ANALYSIS📊
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XAUUSD 172X POSSIBLE IN THE NEXT COUPLE OF DAYSDear Traders,
From technical perspective on this pair, I see the possibly of gold testing the 178x zone soon and 172x in the next few days if nothing fundamental changes.
I have been on the sell sin 1921 and we may likely see the retest of 1680 which happens to be the breakout point for Gold since October 2022.
NZD-USD Bearish Breakout! Sell!
Hello,Traders!
NZD-USD is trading in a local
Downtrend and the pair
Broke the rising support
Made a pullback and retest
And is going down again
So I am bearish biased
And I think that we will
See a further move down
Sell!
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EUR-USD Swing Analysis! Sell!
Hello,Traders!
EUR-USD is trading in a
Downtrend and is now
Stuck in a range between
The horizontal support
And resistance so we need
To wait for the breakout
And then follow it's
Direction which I think
Will be down hence a short!
Sell!
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downward trend is more likelySports movement is very fast
In the upward movement, we see many shadows that indicate the weakness of buyers
It seems that the downward trend is more likely
⚠️ This Analysis will be updated ...
👤 Banipal : @hosseinbakrani
📅 02.13.2023
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NFA!! ETH Resulting downtrendThe technical analysis of Ethereum (ETH) suggests a potential downtrend in the near future. The stochastic indicator, which is used to identify overbought and oversold conditions in the market, has shown that the market is currently overbought. This means that the price of ETH has risen significantly and may soon experience a correction.
In addition to the stochastic indicator, the Relative Strength Index (RSI) is also below the middle line, indicating that the recent price movements have been bearish. The RSI measures the strength of the current price trend and is used to identify potential trend reversals.
Finally, the Moving Average Convergence Divergence (MACD) indicator is also signaling a potential downtrend. The MACD lines have crossed and the signal line is now above the MACD line, which is a bearish signal. This indicates that the trend is shifting from bullish to bearish and may result in a price decrease for ETH in the near future.
Based on these technical indicators, it is recommended to exercise caution when trading ETH and to consider shorting the market if the downtrend is confirmed.
spy inverse H&S neckline & down trend break.. at the same timeinverse H&S.
this is for fun guys.
first touch the down trend line (could be like the santa claus rally) then pull back start of year. then completing the inverse H&S bounce again and breaking the neckline and the down trend line at the same time.. that would be some cool technical TA if that actually played out. this is just for fun. i could see some of this actually happening in a way. probably not that perfectly, and not if inflation or war stuff comes out. any way cheers
edit the yellow oval is where we are now. (time of post) again this is for fun and just wanna have it archived incase it plays out i can flex on..no one cuz i haz no friends. lmao enjoy your weekend and stop reading this. hit the like if you liked or enjoyed it in some way. happy weekend.
GBPAUD short setupOn a daily time frame, GA has formed H&S and it's in a downtrend, so overall bearish setups are preferred.
Price is now on a very good position for sells, we have:
1. Clear downtrend
2. Retesting a structure
3. 4H 50EMA
4. 50% fibs
5. Bigger pattern in play
All I want so see is 30m wedge or pennant just so price can move sideways to touch the trend line, and ofc this can be a sign for a rejection from this level.
EURUSD Divergence: Bearish Potential after break | 1.15% TargetTimeframe: 4 hours
Short Day Trading Position
Take Profit 1.08040 or @ 1.073 on the long run
SL: 1.093 (Reaching Upper resistance)
The EURUSD pair has been showing signs of bearish divergence on the daily chart, with MACD indicator and trend breaking pointing towards potential downside movement.
The pair has been trading within an uptrend channel for almost a month, but now reached a point of a strong resistance that I see it is hard to break. Based on these technical indications, it is possible that the EURUSD may experience a bearish reversal in the long-term. Traders should be cautious and monitor key levels of support and resistance, as well as any further bearish signals that may confirm this potential move.
I would be grateful to get your feedback for this idea if you have any opinion to share
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@AbdullahTech ♾
BTC May Push Higher Before Lower AgainBTCUSD BITSTAMP:BTCUSD has traded in a choppy fashion for some time. Since mid-June 2022, it has traded modestly downward (downward and sideways) relative to the steep downtrend it experienced from the November 2021 all-time high to the June 2022 lows. This author has refrained from posting on crypto for a while given the choppy and uncertain nature of the space.
Supplementary Chart A: BTC's Weekly Chart with Yellow Box Showing Choppy, Sideways to Modestly Downward Price Action for the Last Half Year
But BTC looks to be pushing back to downtrend resistance. This will be a make-or-break time for BTC if the downtrend resistance can be reached. Bears will want to short, and intelligent bears will want to define their risk at the downtrend resistance levels—either the downtrend line, a key Fibonacci cluster, or the prior swing high (where the bluish-teal rectangle is placed on the Primary Chart).
BTC's downtrend remains intact on a log chart. The burden is on the bulls to break that downtrend structure, convert it to a sideways or neutral trend, that may base for some time, and then refashion the structure in to a series of higher lows and higher highs (an uptrend)
BTC may reach the following levels, which will not be considered "corrective-rally targets" given that the downtrend seems ready to resume at any time. So perhaps consider these as levels to watch:
(1) $19,183.29, which is the .618 retracement of the most recent leg of decline, to $19,339.19, which is the measured-move area (a 1.00 Fib projection of the first leg of the bounce from the start of the second leg) and $19,500, which is the 200-day SMA (magenta);
(2) $20,190 to $20,262, which zone includes the .786 Fibonacci retracement and the 1.272 projection of first wave off the November 2022 lows (projected from the start of the second wave); and
(3) $21,300 to $21,478, which zone lies at the prior swing high and the downtrend line resistance.
To determine whether this post is successful, price must fail at one of the levels presented above, and resume the downtrend with a leg lower that breaks the uptrend line from November 21, 2022. This outcome will serve as the standard / criterion for evaluating this idea later on. Of course, the price paths shown on the primary chart are hypothetical only, no one knows exactly which path price will take.
Regardless of one's view (bullish or bearish or neutral) the simple uptrend line from November 21, 2022, lows guides this corrective bounce. When that is broken, expect impulsive movement lower again.
No one knows with certainty whether the bear market is over in crypto and equities. Traders and chart watchers can simply make their best guess based on the probabilities presented by the patterns and technical analysis. Markets will sometimes violate the patterns and move in a manner that confounds the indicators. That is why risk management is so vitally important for traders.
Thank you for reading, and Happy New Year / Feliz Año Nuevo!
________________________________________
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.
GOLD STILL BEARISH ON HIGHER TIME FRAMEMy bias for Gold today, remains bearish and if that happens, the the sell stop order from 18634 will activate and may go straight to TO with little or no draw-down.
I am still waiting for that confirmation which is a HR candle close below the trendline.
Trade safely though and apply proper risk management
CHFJPY I It will fall from resistance 100 pipsWelcome back! Let me know your thoughts in the comments!
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