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Reversalpattern

US100 13808.4 + 0.49 % LONG IDEA * PRICE ACTION & RVSL PATTERNS HEY EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE, A LOOK AT NASDAQ INDEX THIS WEEK SWING * The index was trading in a DESCENDING channel but seems the channel is now RUNNING out of steam as we see consolidation at the base of the channel and the formation of a reversal pattern. - Short term the index is currently in reversal formation in the form of a possible inverse H&S. - key to the set up will definitely be patience. * entry could include completion of the right shoulder, and momentum shift - Looking for LONG entries on the INDEX this week should all the rules of the formation be met. lets see how it goes IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE SMASH THAT LIKE BUTTON & LEAVE A COMMENT. ALWAYS APPRECIATED ____________________________________________________________________________________________________________________ * Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. _____________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - SWING TRAD
ULong
by PULEMokhothu
DXY 95.81 - 0.3% SHORT IDEA * PRICE ACTION & REVERSAL PTTNS HEY EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE SOME OPPORTUNITIES IN THE COMING WEEK. LOOKING AT THE DOLLAR INDEX * The index has been trading in a descending channel currently range bound in a descending channel. * Looking for that lucky number 3 touch to see the index respect the descending structure and bearishly rally to test the base of this structure. * The index already saw a delay at the base of the descending triangle structure which may signal having gardered momentum to go give that 3rd touch. - should this happen looking for shorts on the dollar index, a break above changes the whole plan. lets see how it goes IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE SMASH THAT LIKE BUTTON & LEAVE A COMMENT. ALWAYS APPRECIATED ____________________________________________________________________________________________________________________ * Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. _____________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - SWING TRADE
TVC:DXYShort
by PULEMokhothu
1
GBPAUD | perspective for the new weekThe Pound has been trending higher since the beginning of last year and has since been rejected at A$1.915area on two separate occasions (August 2021 and February 2022) thereby leaving a clue for selling opportunity if the price does not break out of this area. Tendency: Downtrend (Bearish) Structure: Supply & Demand | Trendline | Reversal pattern (Double Top) Observation: i. Zooming in on the daily timeframe, the visual representation of a line drawn under pivot lows reveals the prevailing direction and speed of price action in the last 3 months. ii. However, after testing the major supply zone around the A$1.92 area; price action appears to began a spiral downward a phenomenon that wants to be similar to what happened in August 2021. iii. The appearance of a double top structure within an important supplication (A$1.92) area appears to be confirmed when price did a breakdown and retest of its neckline in the last couple of weeks. iv. In this regard, I shall look forward to a breakdown of the trendline for confirmation to open a short position on this pair in the coming week(s). v. Hence, the below trendline remains a comfortable area to sell the Pound... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 400 pips. Risk/Reward : 1:3 Potential Duration: 5 to 10days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
EURCAD | Perspective for the new week | Follow-up detailsSince my last publication on this pair, the price moved over 350pips in our direction before the retracement began ( see link below for reference purposes). And I expect the retracement to culminate at a level between 50 and 78.6% before the rally continues hence my previous bias still holds (see link below for reference purposes). Tendency: Uptrend (Bullish) Structure: Supply & Demand | Trendline | Reversal pattern (Double Bottom) Observation: i. Following the bearish run that lasted 5 months, the CAD recorded a 6.20% growth against the Euro and it appears the Euro is gaining traction following the strong impulse leg that began on the 27th of January 2022. ii. Double Bottom: The appearance of this reversal pattern at this juncture (C$1.41) in the market revealed a change in trend and a momentum reversal from prior leading price action as selling momentum continued to reduce. iii. So, I am looking forward to the retracement to test the neckline which is also the key level or within C$1.425 & 1.435 to hop into the potential rally in the coming week(s). iv. Please note that the above key level remains a comfortable area to buy the euro with an opportunity to add to the existing position at breakout/retest of C$1.462... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 400 pips. Risk/Reward : 1:4 Potential Duration: 5 to 12 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
NZDUSD | Perspective for the new week As the Russia-Ukraine headlines worsen the market mood, we witnessed rejections of the $0.67 area during last week trading session to impose a shadow of doubts on the potential of the Kiwi going into the new week. However, with current technical structures; I suspect that the acceptance of above the $0.6700 might give a sense of comfort to push the price higher in the coming weeks with $0.66500 serving as a baseline for the formation of a new trend. Tendency: Uptrend (Bullish) Structure: Supply & Demand | Trendline | Reversal pattern (Double Bottom) Observation: i. For over a year now, the Kiwi has been on a downward spiral as it dropped 12.5% against the USD. ii. If we look at the weekly chart, we will notice that price came back to a significant demand level around $0.655 late in January 2022 which was immediately followed by bullish momentum. iii. Hence, I have projected a potential trendline (bullish) on the chart to guide us in taking advantage of a bullish momentum if it eventually happens in the coming week(s). iv. A breakout/retest of the key level at $0.67500 should present an opportunity to add to our existing position. v. Please note that the bullish trendline projected on the chart is serving as our yardstick as any break below will render the narrative invalid... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:4 Potential Duration: 7 to 20 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
GBPNZD | Perspective for the new weekThe GBPNZD pair seems to be on the edge of a cliff and it appears to be on the verge of tumbling down into 50 to 78.6% retracement in anticipation of a bullish trend continuation. How do we take advantage of this counter-trend opportunity without getting our fingers burnt? Tendency: Downtrend (Bearish) Structure: Supply & Demand | Trendline | Reversal pattern (Double Top) Observation: i. Since November 2021, the Pound recorded approximately 9% growth against the Kiwi to set the tone for bullish momentum. ii. The visual representation of a line drawn under pivot lows reveals the prevailing direction and speed of price action in the last 3 months. iii. However, multiple rejections of N$2.05 since January 28th signals the possibility of price action transposing into a correction phase that might dip into 50 to 78.6% retracement before the rally continues. iv. The multiple rejections at N$2.05 evolves into a double top look-alike which is an extremely bearish technical reversal pattern that forms after action tests a new high two consecutive times with a moderate decline between the two highs with confirmation of structure at a break below a support level at N$2.025. iv. Coupled with the reversal pattern, we also witnessed a breakdown of the bullish trendline during last week trading session to give credibility to my bearish bias. v. In this regard, below the key level at $N2.025 remains a comfortable area to take on a short position as I strongly anticipate a breakdown/retest of this level in the coming week(s)... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 500 pips. Risk/Reward : 1:4 Potential Duration: 7 to 20 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
AUDUSD | Perspective for the new weekThis will be my first long term perspective on this pair as I have waited a whole 2 months to identify a double bottom structure within a strong demand zone that has held price "supported" since July 2020! The strong memory for buying tendency at $0.7000 is a clue for an opportunity to buy the Aussie in the coming week(s). The Aussie advanced for a third consecutive week and is currently trading at around the $0.717 area - my key level, as lack of demand for the USD looms despite the dismal ruling mood. Tendency: Uptrend (Bullish) Structure: Supply & Demand | Trendline | Reversal pattern (Double Bottom) Observation: i. From the weekly perspective, it is obvious that the Aussie has been on a decline (12.63% drop) since February last year. ii. And the price is back to the $0.7 area two consecutive times (December 2021 and January 2022) resulting in the appearance of a double bottom structure in a zone that has a strong memory for buying power. iii. The double bottom pattern is a technical analysis charting pattern that describes a potential change in trend and a momentum reversal from prior leading price action which has lasted for a whole year. iv. Even as we await a confirmation which will happen if the price break above the resistance level which is the neckline at $0.72750; Above the key level at $0.71700 remains a comfortable area to take advantage of the bullish bias identified with an opportunity to add to our exiting position at a breakout/retest of the bearish trendline. CAUTION: Considering the long term bearish momentum on this chart, it is advisable that we remain conscious with our positions as any break below the demand zone at $0.7 will negate the bullish narrative... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 350 pips. Risk/Reward : 1:4 Potential Duration: 15 to 25days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
2
GBPJPY | Perspective for the new week | follow-up detailsThe price moved exactly 400pips in our direction since my last publication (see link below for reference purposes) to set the tone for bearish momentum. In the last week, and with the appearance of a double top pattern; the Pound appears to have found the crucial resistance at JY158 to incite a second downward spiral. The JY158 area already stopped buyers in October 2021 and January 2022. The JY157 area also stopped buyers during the course of last week trading session to signal a bearish momentum. Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Trendline | Reversal pattern (Double Bottom) | Descending Channel Observation: i. Despite an overall bullish momentum on this pair (see weekly time frame); the JY157 area has been resisting price action since October 2021 to reveal a bearish tendency at this juncture in the market. ii. Since testing the JY158 area on the 10th of February 2022, price action has continued to find lower highs which culminated in a breakdown of Key level (JY156.450) at the beginning of last week trading session. iii. This development gave rise to multiple rejections of the JY157 area to make this area our new supply zone for future selling opportunities. iv. It is important that we put into consideration that the multiple rejections of the JY157 area share a confluence with the bearish trendline that has been guiding price action since the 10th of February 2022. v. In this regard, I shall be looking to take a sell position below the key level identified at JY156.450 with an opportunity to add to my existing position at a breakdown/retest of the JY155.450 area in the coming week(s). vi. Mind you, the early hours/days of the new week might see a price climb to test our new supply zone around the JY157 area to incite further decline... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:4 Potential Duration: 3 to 7days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
A Reversal Signal!The candlestick pattern indicates a divergence signal where the direction of a price trend has changed, from going down to going up, with volume crosses over the MA20 line. The RSI indicator indicates an uptrend with gain momentum towards indexes 30. Hence, confirming the price reversal towards the next price resistance. MACD and OBV indicators indicate an early sign of divergence signal. Let's save ARTRONIQ in WL and watch out for significant price movement with volume towards the next price resistance. R 0.365 S 0.295
MYX:ARTRONIQ
by eskopitehmilo
GOOGL: You must watch this KEY POINT closely!Hello traders and investors! Let’s see how GOOGL is doing today! In the 1h chart, it is a clear bear trend, as it is doing lower highs/lows. However, we have a key point to watch from here: The dashed line at $ 2,754. This line was a previous resistance before the Monster Gap after earnings, and when GOOGL lost its strength, it worked as a support for the price. This movement follows the Principle of Polarity in Technical Analysis. Yesterday this line was our resistance again, and this is why this is the most important key point to watch. Only by breaking this line, we would see GOOGL turning bullish again. What’s even more curious, is that when we look at the daily chart, we see two more resistances at the same price of the dashed line in the 1h chart: Coincidence or not, the 50% retracement, and the 21 ema are both near the $ 2,754 area, making it a powerful resistance, indeed. As long as GOOGL remains under this key point, nothing new will happen. However, if it does break it, we might see the end of this bearish sentiment on GOOGL, and possibly even a buy sign. I’ll watch GOOGL closely from now on, and I’ll keep you guys updated on it. So, remember to follow me to not miss any of my future analyses.
NASDAQ:GOOGL
by Nathan_The_Finance_Hydra
4
XAU / USD 1829.13 - 0.16 % SHORT IDEA * REVERSAL & STRU. PTTNSHEY EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE, AN IDEA ON THE GOLD METAL AFTER A SIGNIFICANT BULLISH RALLY TO RETEST THE ASCENDING CHANNEL & RESISTANE LEVEL $1,832. * The METAL was trading in an ascending channel but seems the channel was consolidating in a bull flag/ DESCENDING CHANNEL as we awaited a BREAKING OUT OF THIS structure. - Short term the METAL has currently Rallied with an up trend as WE break above on the 4h chart. hitting ( HH , HL ) - Looking for SHORT entries on the METAL this week should all the rules of the formation be met, the are multiple wick rejection at the supply zone which could signally slowing down or rather a change in momentum. lets see how it goes IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE SMASH THAT LIKE BUTTON & LEAVE A COMMENT. ALWAYS APPRECIATED ____________________________________________________________________________________________________________________ * Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. _____________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - SWING TRADE
OANDA:XAUUSDShort
by PULEMokhothu
2
Beware False Breakouts! How To Spot Them...Investors should use basic Technical Analysis for powerful decision making. I see it as a challenge to demonstrate how useful knowledge of one simple pattern can be to identify price reversals. Recognizing this pattern and acting on it will save much money and headache! Both traders and investors need to be on guard for false breakout reversals. Seeing this pattern in action can provide an excellent profit target, entry point, or prevent major drawdown! In this video I look at examples in the Silver ETF AMEX:SLV , Spotify stock NYSE:SPOT , and Forex Euro/Dollar pair FX:EURUSD for false breakouts and what follows. I am excited to make this video for my viewers and for Best of Us Investing!
NASDAQ:AAPLEducation
by norok
72
SPX: Most important key points UPDATED.Hello traders and investors! The SPX is moving accordingly to the plan, but we have some new key points to work with. It did a lower top, and it must break the purple trend line as soon as possible, in order to become truly bullish again, and to fill its previous gaps. We have two open gaps, and the one at 4652 is the target of this bullish structure. Yes, the support at 4453 (blue line), is still our main key point, as if the index loses this line, it’ll cancel the bullish bias seen in the 1h chart. I’m not saying it would work as a bearish reversal, but it would weaken the bull trend for sure. What’s more, the 4453 coincides with the 38.2% retracement in the daily chart: This point is truly important, and if the SPX is seeking higher levels, we must not lose this price level. Otherwise, we could drop all the way down to 4370 again (61.8% retracement). For the short-term, let’s focus on the purple line in the 1h chart. If we break it, we’ll have decent chances of filling our gaps. I’ll keep you guys update on a daily basis. Remember to follow me to not miss any of my future analysis!
SP:SPX
by Nathan_The_Finance_Hydra
4
GBPUSD | Perspective for the new weekI have taken quite a number of short term personal trades off public eyes due to my inability to find a long term perspective to share with you on this pair - GBPUSD. From the current set-up tonight, I think I am seeing something concrete that we can hold on to for an extended period of time. Recent developments reveal that the GBPUSD has advanced to its strongest level in two weeks at $1.363 on Thursday with the initial reaction to the Bank of England's (BOE) rate decision and I am of the opinion that this might be the beginning of a potential rally (maybe short-term). Tendency: Uptrend (Bullish) Structure: Supply & Demand | Trendline | Reversal pattern (Double Bottom) Observation: i. It is obvious that since June 2021, the Pound recorded a drop of over 7% in value against the Greenback to find a bottom at $1.32 in December 2021 and have since been finding higher lows to give room for a potential rally (see daily chart) in the nearest future. ii. And after the test of $1.375 in January 2022, price action respected a trendline structure which guided price to a new low at $1.336 on the 27th of January 2021 which is higher than the previous low. iii. Moving on to the 4H chart, a significant level was identified at $1.351 which I shall take to be my key level at this juncture in the market. iv. Even as the trend line drawn over pivot highs reveals the prevailing direction of speed and price action in the last couple of weeks, the breakout at the beginning of this month could be a signal that the trend is about to change. iv. During last week trading session, we witnessed price action breaking out of the bearish trendline and this feat shares a confluence with the breakout of key level @ $1.351. v. In this regard, I suspect that the early hours/days of the new week might see the price dip to test the Neckline of the Double bottom @ $1.33600 to incite rally continuation. vi. So I have identified a new demand level around 50 to 78.6% retracement of the impulse leg (breakout move which should also respect the new bullish trendline that I think will mature at break above $1.36) for buying opportunity but please note that the area above the key level confirms the bullish bias. vii. And if a dip does not happen, a reversal structure above the key level should make more sense to take a long position... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 250 pips. Risk/Reward : 1:4 Potential Duration: 5 to 12days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
GBPCHF | Perspective for the new week | Follow-up detailsWe witnessed over 200pips move in our direction since my last publication on this pair (see link below for reference purposes) and ...? Fr1.25400 area - Price is currently oscillating within a very sensitive borderline where the probability of bullish and bearish momentum is almost of the same possibility. A significant engulfing candle, either way, could send the price all the way hence the need to have a critical observation coupled with parameters that will give a clue into what direction price is likely to move towards in the coming week(s). Tendency: Downtrend (Bearish) Structure: Supply & Demand | Trendline | Reversal pattern (Double Top) Observation: i. Following the bullish momentum that gripped the market since the 6th of December 2021, the Fr1.254 level has held price "resisted" since mid-January 2022 hereby revealing an underlying strength in favour of the sellers at this juncture in the market. ii. The line drawn under pivot lows reveals the prevailing direction of speed and price action in the last 10 days. iii. However, Buyers have found it difficult to continue the momentum as multiple rejections of Fr1.254 is preventing the price from soaring which puts a dent in my last prediction ( see link below for reference purposes). iv. If we go as far back as 2015, we will notice how the Fr1.254 area has been a major determinant of price as a break above or below normally sends price in the direction of the break (see weekly chart). v. Equipped with this information and observing how selling pressure has increased in the last 22 days ( between the 13th of Jan and last week trading session), my bias is slightly tilting towards shorting the Pound against the Swiss franc in the coming week(s). vi. Double Top: The appearance of an extremely bearish technical reversal pattern forming after price tested Fr1.23 area two consecutive times during last week trading session is giving more credibility to the bearish momentum suspected. vii. To also emphasize the strength of the selling pressure is the drop in demand zone from Fr1.245 to Fr1.242 in the space of 2 weeks. viii. With a Key level identified at Fr1.25, I shall be looking forward to a breakdown of this level which will also coincide with the breakdown of Bullish Trendline. So, what this means is that below Key level remains a comfortable area to short the Pound in the coming week(s). CAUTION: All this being said, should we see a significant breakout of Fr1.254 in the coming week(s) then we shall be reverting to the previous analysis supporting a bullish bias (see link below)... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:4 Potential Duration: 3 to 7days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
EURUSD | Perspective for the new week | Follow-up detailsThe price moved over 140pips in our direction (see link below for reference purposes) before the appearance of multiple bearish engulfing candles which suddenly disrupted the bullish momentum building up from the reversal structure identified in my last speculation. The EURUSD bounced back after US jobs dip as we witness a cancelling of this bearish move during the course of last week trading session as buyers brought the price back to where it was during my first analysis on this pair - a development allowing me to maintain my bullish perspective on this one. Tendency: Uptrend (Bullish) Structure: Breakout | Supply & Demand | Trendline | Consolidation structure Observation: i. Since the beginning of the last year 2021, the Euro recorded a 9.4% decline against the Greenback to express an emphatic bearish momentum. ii. The bearish momentum appears to have found a bottom @ $1.12 in November 2021 which can be evident in the character of price action in the last 3 months except for the "sudden" breakdown of this level at the tail end of the month January 2022. iii. Except for the "false" breakdown at the end of last month; Since the price hit bottom @ $1.12, we have noticed a gradual bullish momentum as the price continues to find higher lows which are evolving to the possibility of buyers taking over the deals from the supplication zone around $1.135 area. iv. Like I have stated on my last speculation, above key level @ $1.13 appears to be a comfort zone for me to long with hopes of adding to my existing position at Breakout/Retest of $1.138 area. v. In this regard, I suspect that the early hours/days of the new week might see a drop in price towards the key level area where I have identified on the chart as a new demand level to incite an increase in the value of the Euro. vi. Hence, above the key level @ $1.3 remains a comfortable area to long the EURUSD. NB: Considering the long-term Bearish momentum, it is appropriate that we remain conscious as the Bullish expectation in the coming week(s) could be a correction phase that might incite a downtrend continuation but till then ... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 400 pips. Risk/Reward : 1:4 Potential Duration: 5 to 10days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
EURUSD Possible bearish moveHTF - Market has broken the ascending channel to the downside indicating further bearish momentum, however, reversed back to bullish for no specific reason rather than the dollar index touched the top of its ascending channel and took the dollar down, and EUR up... LTF - Now the market has touched a previous level of resistance forming a double top, and reacted from it impulsively breaking the LTF ascending channel pattern which is a reversal pattern. So what I am expecting now after that BO is that the market will correct and start its bearish move if the price Breaks down again. Plus we have the dollar index that touched the bottom of its HTF ascending channel and reacted from it too.
Short
by GonzeeTrading
GBP / JPY 153.096 -0.61 % LONG IDEA * TREND POSSIBLE REVERSALHELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE. NEW WEEK, NEW OPPORTUNITIES. LOOKING AT THE POUND / YEN * The PAIR has been trading in a ASCENDING channel just tested the base of this structure, awaiting a double bottom/ or any other confirmation as we might enter a strong bullish rally. - Short term the pair looking for a momentum shift possibly signaling a strong bullish momentum on the 4h chart this. - Looking for long entries on GJ this week should all the rules of the formation be met. lets see how it goes IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE SMASH THAT LIKE BUTTON & LEAVE A COMMENT. ALWAYS APPRECIATED ____________________________________________________________________________________________________________________ * Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. _____________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - SWING TRADE
Long
by PULEMokhothu
2