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NZDJPY Trend Reversal OpportunityOn the 1-hourly chart, it looks like a regular shorting opportunity with Key Resistance Level retested at the almost perfect, but potential BOJ Intervention zone, so for traders of all kind to ''try their luck!!'' However, on the Grand Scale of things, and it is a Type2 Bearish Shark Pattern on the Daily Chart. After I'd include the buffer, I the market hit Price Action Level at 94.00, hence, I'd to push my SL 10pips away, but making it 94.10. Let see how the market moves before the New York Session ''opens''
Short
by RaynLim
INJ, when next pump? Be carefulThe price of INJ is at the top of the parallel channel on the weekly chart. This is probably not the best time to buy INJ, I would wait a for a small pullback. Rather buy INJ in March / April and buy some other coins because INJ is going to go sideways. From the Elliott Wave perspective, we are waiting for the final wave (5). We are in wave (4). Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades! Injectvie Labs is the research and development company that first began contributing to Injective Protocol. Eric Chen is the co-founder of Injective Labs. Prior to founding Injective, he worked as a cryptographic researcher and trader at a major crypto fund where he led innovative market neutral trading efforts in the blockchain space as well as investments into prominent companies such as 0x, ChainLink, and Cosmos. Chen has extensive knowledge about blockchain protocols and traditional finance along with a native understanding of both eastern and western blockchain-based protocols and communities. Albert Chon is the CTO of Injective Labs. He graduated with a Bachelor’s and Master’s degree in computer science from Stanford University and was a software development engineer at Amazon. He is well known for pioneering a new Ethereum standard that is used by a number of major projects today and co-founded Injective Labs with Eric Chen. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades!
Long
by Xanrox
7
Bitcoin (BTC) Price Analysis: Preparing for the Bearish AbyssIn this technical forecast, we delve into the darker recesses of Bitcoin's potential price journey. We observe a concerning configuration on the BTCUSD chart where the currency is currently grappling with critical support levels. Current Dynamics: The price has recently retracted from a peak, teasing the possibility of a significant downtrend. A descending channel formation can be seen, indicating a tightening bearish grip on the market momentum. Worst Case Trajectory: Should the price break below the sturdy support zone, indicated by the green rectangle, we may see an accelerated drop. The price could tumble toward the lower boundary of the channel, a line that has historically acted as a gravitational pull during bearish trends. Key Levels to Watch: Immediate support resides within the green rectangle zone. If this fails, the descent could be sharp and unforgiving. Further support is hypothesized by the extended yellow trend lines, outlining a worst case range that could spell distress for bulls. Projected Pathways: The worst case scenario envisions a stark descent, followed by a period of consolidation below the current support. A relief rally might attempt to reclaim lost ground, but the overarching trajectory remains bleak in this hypothesis. Conclusion: While we must tread with caution, preparing for a bearish eventuality is prudent. Investors and traders should brace for volatility and consider the historical behavior of the market during similar patterns. Vigilance is key as we watch for potential support breaches that could confirm this grim forecast.
BYBIT:BTCUSD.PShort
by Oak_the_trader
2
GBPUSD Analysis: Trend Continuation TradingTrade Strategy: Trend Continuation - Key Level (1-hourly chart): Retest at 1.2419 - Additional Setup (4-hourly chart): Bullish Shark Pattern at 1.2141 Analysis: - Approach: Identifies potential opportunities for trend continuation trading - Key Level: Looks for a retest at 1.2419 on the 1-hourly chart as an entry point - Additional Setup: Considers stretching the target to 1.2141, the completion of a Bullish Shark Pattern on the 4-hourly chart Trade Plan: - Entry Point (1-hourly chart): Consider entering a short position on a retest at 1.2419 - Upsize Trade Management: Utilize Upsize Trade Management to extend the target to 1.2141 - Risk Management: Implement effective risk management techniques to safeguard trades Insights: GBPUSD exhibits potential for trend continuation trading, with a retest at 1.2419 offering an entry point on the 1-hourly chart. Additionally, consideration of stretching the target to 1.2141 aligns with the completion of a Bullish Shark Pattern on the 4-hourly chart. Employ prudent risk management practices to navigate market volatility. 📉📈 Exercise caution and prioritize risk management when trading GBPUSD based on trend continuation setups!
Short
by RaynLim
Potential SHARK Harmonic pattern forming on Natural Gas📈 Keep an eye on Natural Gas! 🦈 Potential SHARK Harmonic pattern spotted 📉 This pattern, known for signalling trend reversals 🔄, is gaining attention as it shows distinct Fibonacci ratios and price swings. If confirmed, it could mean significant price movements ahead. The pattern involves four key points: the initial impulse leg, a corrective retracement, an extension leg, and a final reversal leg. Traders are watching closely as price action approaches the projected reversal point 🎯. Confirmation of the pattern often comes with additional technical indicators aligning with the reversal signal. In the Natural Gas market, factors like supply and demand dynamics, geopolitical events, and weather patterns play a crucial role. Traders are combining technical analysis with fundamental insights to assess the pattern's validity and potential outcomes 🌍💡. Stay alert and keep your risk management strategies in check! Whether the pattern leads to a bullish 📈 or bearish 📉 reversal, traders with a keen eye on harmonic patterns and market dynamics will be ready to seize the opportunities 💼💰.
CAPITALCOM:NATURALGASShort
by ghostysellsdonkeys
AUDUSD Analysis: Bullish Shark Pattern- Trade Strategy: Bullish Shark Pattern - Key Level: 0.6454 (Retest Level) - Challenge: Strong Bearish Movement Analysis: - Importance: Highlights the difficulty of trading a Bullish Shark Pattern amid strong bearish pressure - Technical Analysis: Identifies a Bullish Shark Pattern on the AUDUSD chart - Challenge: Requires a 3-bar reversal and candlestick confirmation for a viable buying opportunity Trade Plan: - Entry: Consider a conservative entry at the retest level of 0.6454 - Confirmation: Wait for a 3-bar reversal and candlestick pattern confirmation before entering - Risk Management: Implement effective risk management techniques to protect against potential losses Insights: Trading the Bullish Shark Pattern on AUDUSD requires caution due to the strong bearish movement. Conservative traders should wait for confirmation signals before entering the market, prioritizing risk management to mitigate potential losses. 📈🦈 Exercise patience and diligence when trading the Bullish Shark Pattern on AUDUSD!
Long
by RaynLim
NZDJPY Analysis: Bullish Combo Trade SetupTrade Strategy: Combo Trade (Bullish Deep Gartley + Bullish Shark) Key Levels: - Bullish Deep Gartley Pattern: 4-hourly chart - Bullish Shark Pattern: 1-hourly chart - Trading Zone: Coincides with Bullish Shark completion Analysis: - Importance: Utilizes a combo trade strategy for enhanced risk management and profit potential - Technical Analysis: Identifies a Bullish Deep Gartley Pattern on the 4-hourly chart and a Bullish Shark Pattern on the 1-hourly chart - Trade Management: Enables a reduction in stop loss and potential expansion of profit targets Trade Plan: - Entry: Consider entering at the confluence of the Bullish Deep Gartley completion and the Bullish Shark completion within the trading zone - Risk Management: Utilize effective risk management techniques to reduce stop loss and protect profits - Profit Taking: Extend profit targets based on the combo trade setup and trading zone alignment Insights: The Bullish Combo Trade Setup combines two harmonic patterns, providing an opportunity for enhanced risk management and profit potential. Traders can capitalize on the confluence of patterns to optimize their trading strategy. 📈🦈 Keep an eye on NZDJPY for potential bullish movements based on the Bullish Combo Trade Setup!
Long
by RaynLim
GBPUSD Analysis: Support and Resistance Trade SetupTrade Strategy: Support and Resistance Key Levels: - Support at 1.2435 (1-hourly chart) - Resistance at 1.2534 (1-hourly chart) Analysis: - Importance: Utilizes support and resistance levels for trading opportunities Trade Plan: - Buying Opportunity: Look for buy entries near support at 1.2435 - Shorting Opportunity: Consider shorting near resistance at 1.2534 Insights: GBPUSD presents support and resistance trading opportunities on the 1-hourly chart. Traders can consider buying near support and shorting near resistance levels for potential profits. 📈📉 Stay alert for trading opportunities based on support and resistance levels in GBPUSD!
Long
by RaynLim
AUDNZD | Hidden Bearish Divergence | Harmonic Bearish Shark The AUDNZD chart currently shows the formation of a XABCD Harmonic Shark Bearish Pattern, indicating a Potential Reversal Zone (PRZ). Additionally, there is a hidden bearish divergence, suggesting that the current uptrend is likely to reverse into a downtrend. Furthermore, on the daily chart, the price has just touched a strong daily resistance zone, which also serves as an Order Block (OB). This action confirms the bearish OB and all these indicators collectively suggest a shift in the trend to a downtrend. In technical analysis, a Harmonic Shark pattern is a specific type of harmonic pattern that signals potential trend reversals. The completion of this pattern at the PRZ indicates an area where traders might anticipate a change in the current price direction. A hidden bearish divergence occurs when the price forms higher highs, but the corresponding indicator (such as the Relative Strength Index or RSI) shows lower highs. This suggests underlying weakness in the upward momentum, potentially leading to a reversal. The concept of an Order Block (OB) refers to a significant level of support or resistance where institutional traders have previously entered the market. When the price approaches and reacts to this level, it can confirm the strength of the OB. On the 1-hour time frame, also there is a hidden bearish divergence, and the Previous Day High (PDH) liquidity has been taken. Whenever the PDH is breached, a pullback to the downtrend is often observed. Additionally, the trend line on the 1-hour time frame has been broken, and the price has retested this trend line. According to Dow Theory, these indications suggest a shift in price behavior from forming higher highs (HH) and higher lows (HL) to forming lower highs (LH) and lower lows (LL). On the daily time frame, the price has tested a strong resistance zone and is rejecting from its peak resistance level bearish OB. Overall, the daily chart appears bearish, indicating a potential trend change. Additionally, there is a trend line liquidity that needs to be breached for the price to move in either direction. In summary, the combination of the Harmonic Shark Bearish Pattern, hidden bearish divergence, and interaction with a higher time frame to lower time frame strong daily resistance zone (Order Block) suggests a strong indication of a potential shift from an uptrend to a downtrend in the AUDNZD pair. However, it's essential to conduct comprehensive analysis and consider other factors before making trading decisions.
Short
by awaisulabdeen
14
Counter-Trend for Greater ProfitsThis week, I'm looking at NZDJPY with a bearish perspective, and here's my trade plan: 1. Bearish Shark Pattern Confirmation at 91.74: I'll be patiently waiting for the Bearish Shark Pattern to confirm at the level of 91.74. This level coincides with the formation of a Head & Shoulders pattern, adding confluence to the bearish setup. 2. Extended Trading Targets: If the Bearish Shark Pattern sets up as anticipated, I'll extend my trading targets beyond the traditional Target1 and Target2. By doing so, I aim to capitalize on the potential bearish momentum and maximize profits from the trade. 3. Stop Loss Management: Once the market reaches the traditional Target1 of the Shark Pattern, I'll shift my stops to the entry level to protect profits and minimize risk. By patiently waiting for the bearish setup to confirm and managing stops effectively, I aim to capitalize on the shorting opportunity presented by NZDJPY this week. What are your thoughts on NZDJPY? Feel free to share your trade plans and insights below! Wishing everyone successful trading ahead!
Short
by RaynLim
Short on EURUSDThis week, I'm leaning towards a shorting opportunity on EURUSD for a couple of reasons: 1. **Bearish Shark Pattern on Daily Timeframe:** The presence of a Bearish Shark Pattern on the daily timeframe suggests a potential downward movement in the price. 2. **Breakthrough of Bullish Gartley Pattern:** The Bullish Gartley Pattern on the 4-hourly chart breaking through the Potential Reversal Zone (PRZ) indicates a weakening bullish sentiment. 3. **Waiting for Retest:** I'll be patient and wait for the market to retest the resistance level at 1.09121 before entering a short position. What are your thoughts on EURUSD? Share your trade plans and perspectives below! Let's make this week a profitable one! Happy Trading!
Short
by RaynLim
2
Anticipating a Buying Opportunity on Daily ChartEURUSD is catching my attention, and here's my perspective: 1. Bearish Shark Pattern on Daily Chart: - For traders seeking shorting opportunities, there's a Bearish Shark Pattern on the Daily chart. - The completion of this pattern might indicate a potential bearish move. 2. Buying Opportunity at 1.0879: - Personally, I'm eyeing a buying opportunity on EURUSD. - Despite a flawed Bullish Shark Pattern, I'm looking to enter long at 1.0879. Share your thoughts and trade plans for EURUSD in the comments below. Let's keep the discussion going!
Long
by RaynLim
RSI Divergence and Bearish Shark Pattern Combo TradeToday, let's delve into an intriguing setup on GBPJPY that combines a Weekly Chart RSI Divergence with a 1-hourly Bearish Shark Pattern: 1. Weekly Chart RSI Divergence: - Observe the RSI Divergence on the Weekly Chart, signaling a potential weakening of the bullish trend. - This divergence might serve as a precursor to a reversal or retracement. 2. 1-hourly Bearish Shark Pattern at 190.72: - Look for a shorting opportunity as the Bearish Shark Pattern completes at 190.72 on the 1-hourly chart. - Engaging in a short position aligns with the potential bearish sentiment suggested by the RSI Divergence. This combo trade approach involves using higher timeframes for trend analysis (Weekly RSI Divergence) and pinpointing a precise entry with a harmonic pattern on a lower timeframe (1-hourly Bearish Shark). Feel free to share your thoughts and trade plans for GBPJPY in the comments below. For a visual representation, refer to the chart link provided.
Short
by RaynLim
Bullish 5-0 vs. Type2 Bearish Shark PatternIf you're navigating conflicting biases, here are two potential setups: 1. Bullish 5-0 Pattern at 149.96: Long Opportunity - Engage in a long position based on the completion of the Bullish 5-0 pattern at 149.96. - This pattern signals a bullish bias, providing an opportunity for traders expecting an upward move. 2. Type2 Bearish Shark Pattern at 150.67: Shorting Opportunity - Consider a short position if the Type2 Bearish Shark Pattern completes at 150.67. - This approach factors in the possibility of Fed rate cuts in June, potentially influencing a bearish move. As a trader, it's essential to weigh the conflicting signals and align your strategy with your overarching market outlook. Feel free to share your preferences and insights on these setups.
Long
by RaynLim
Science of Trading ApproachToday, I'm excited to share a detailed approach for trading GBPUSD. If you're considering a short position, here's a comprehensive strategy: 1. 1-Hourly Chart: Shark Patterns at 1.2676 - Wait for Shark Patterns to complete at 1.2676 on the 1-hourly chart. - Look for a trading combo within the chart when the market retests the Trendline Break (red line). - Ensure the market doesn't violate the trendline during this process. 2. 4-Hourly Chart: Bearish Gartley Pattern at 1.2725 - The ideal scenario is for the Bearish Gartley Pattern to complete at 1.2725 on the 4-hourly chart. - Aim for completion before Monday, March 4, 2024, by 5 pm. Patterns completing after this time are considered disqualified. This Science of Trading approach allows for a meticulous analysis and synchronization of different patterns across multiple timeframes. It provides a well-defined strategy for traders looking to short GBPUSD. Feel free to share your thoughts and insights. Are you considering a similar approach or have different plans for GBPUSD? For a visual representation, please refer to the chart link in the TradingView post.
Short
by RaynLim