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Falcontradingguidance

Long Shot Aussie/USDLooking at the Weekly chart, we can see the formation of a descending wedge Looking into the Daily chart, we see yet again another descending wedge. Its a more defined wedge on the 4HR chart. As we can see from the 4HR chart, not only is there a descending wedge, but we actually see that price has just broken past the resistance line of the pattern. It is important to note that although all these patterns are present and we can gain evidence for a winning trade, we must remember the market can still push price lower to 0.67280 before the reversal takes place.
Long
by JuanAlexander95
Potentially Strong Reversal Coming SoonAUDJPY Daily chart shows a slightly ascending channel following by a drop to the 75.227 support line and breaking it. We could see a potential reversal at this point or it can reach 71.018 before reversing. Looking in at the 4HR chart, we see an evening star formation with an impulse to the upside before entering what now looks like a consolidation period. Scaling into the 1HR chart, we can see the formation of a descending wedge in place of the consolidation period of the 4HR chart. All these descending chart patterns in multiple timeframes indicate that a strong reversal is on its way. If you're watching this pair, I hope you can capture the move!
Long
by JuanAlexander95
EURJPY Long - Potential Pullback EntryInitially, when I saw this trade opportunity, my trend line position had made it look like price had just broken through and was on its way up. However, after adjusting my trend line, I saw that price just bounced off the resistance and was trickling its way back down the channel. Unfortunately, I entered the trade when price "broke" through the trend line and am now sitting in the red. However, looking at the 15Min and 1HR charts, we see the potential formation of a double bottom at 122.182. I then decided to apply the Fib retracement tool and it seems that price is hovering at the 38% Fib line which could indicate that price is ready to reverse and move to the upside and complete the descending channel pattern. It is also possible for price action to continue falling all the way down to 118.498 before shooting upwards. Thinking retrospectively, I should have waited longer before entering this trade to see how the market played out. Especially considering that price action is currently in nomansland on the Daily descending chart pattern.
Long
by JuanAlexander95
NZDUSD Long - Trading the PullbackWe currently see a descending channel on the Daily chart with a breakout to the upside. Price is currently pulling back which will allow an opportunity for traders to hop in on the trade. My TP is 300 Pips from current price with a tight SL of 25 Pips. Looking at the 1HR chart, we see the same descending channel pattern we see in the higher time frame. This only strengthens the probability of price shooting up both in the short term and the long term. Its important to remember that although these Chart Patterns increase the PROBABILITY of the trade going in our favor, it is also POSSIBLE that the price sinks and hits the bottom tip of the descending channel again at around 0.64792 or below.
Long
by JuanAlexander95
1
USDCHF SI like what the markets showing! This is what I'm seeing (always room for improvement): D - running descending channel with two touches; possible it's just a correction to break out and go higher to reach 1.01285 level. 4H - Potential to pullback and create a double top for a deeper sell. or even break out for a possible bigger position; both with 20 pip stops 1H - price can move up to the ray line area to count as 4 touches and create a u pattern; curious if others in the community can confirm if this could be the formation of a falcon flag 15M - if we see a strong bearish move out to of the channel to confirm a move to the downside I'll be entering. The more I look at it I feel this is more of a valid set up than a high probability set up which is why a strong bearish move would confirm an entry for me, overall staying patient.
by Reid_Hicks
SWISS FRANC CURRENCY INDEX (SXY) DAILY TIMEFRAME SHORTThe Swiss Franc currency index is currently moving in a series of lower highs and lower lows, characteristic of a downtrend. The price is clearly moving downwards with brief correctional pauses as shown by the ascending wedges and bear flag chart patterns. I am targeting a short trade toward the 97.8 area, which will be my profit taking zone. This area represents a potential buy zone as it is the bottom of the correctional structure. I certainly hope history repeats itself with this trade and the 90% rule sticks out!!!. A break above 100 might change my bias a bit, but currently i am targeting the 07.8 price level for profit-taking.
TVC:SXYShort
by munyaelliott
EUR/USD SHORT (Bearish momentum)EURUSD has been in a massive downside momentum. We are close to a strong Demand zone at 1.11371 and 1.11106 level where we will be looking for Long trades in the Zone but that doesn't mean that we cant take advantage on the short term movement to the downside before going long on this pair. We can see on the M15 time frame that we have a pattern in a pattern structure. The descending channel is a reversal pattern to the upside . I believe Price will go back up to 1.11737 and 1.11843 zone before heading to the downside. We can take advantage and look for Short trades in that Supply zone. Thank you.
Short
by Trustfx_king
CHF/JPY 4-HOUR TIMEFRAME SHORTSo the price is making the classic impulse and correction moves again! And the market will obviously try to fake us out by driving the price up closer to the descending trendline, before going in our original intended direction (short). So what i did this time is to give the market enough room to breathe, in the form of a stop loss at 109.074 (above the highs) and the target does not change as always, at the bottom of the flag pattern. Let there be bears! And may the force be with you, as we wait for the Star Wars movie to drop!
Short
by munyaelliott
SHOPRITE GROUP LIMITED (SHP) SHORTPrice has been moving in a descending channel, in a series of impulses and correction, and we can expect prices to continue to move to the downside. There is potential for short term long entries due to an inverse head and shoulders pattern, which is a reversal pattern, but first price has to break the neckline and this will give us confirmation to enter especially if there is a retest. My bias is bearish as price seems to be forming the corrective part of a bear flag pattern, and conservative traders can enter on the break of the flag support to the downside, whilst risk-seekers can enter positions on the resistance level of the flag position. It would be even more safer to wait for a rejection of the descending trendline which makes up the channel support before placing any short positions.
JSE:SHPShort
by munyaelliott