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🐻TIME TO SELL OIL??!!!Oil has been riding that trendline to new heights, but the more times a trendline is tested, the weaker it gets. this theory has held true once more as price has broken below this MAJOR trendline. A break of structure can also be spotted as price retests previous areas of support as resistance. It looks like its time to sell as price seems to have completed the wave sequence of a bearish continuation pattern(bearish flag pattern). CHECK THE LINKED IDEA FOR THE FULL SETUP TVC:USOIL Happy trading!!
TVC:USOILShort
by WAR_ON_FOREX
🐻US100 NeutralNas100 has been very bearish for weeks as a result of the Russia Ukraine crisis and rising USD rates. From the impulsive bearish movement price has tested a major supporting trendline on the weekly for the third time, sparking a bullish movement. An inverse head and shoulders was formed and the price broke the neckline, moving higher. The market has now tested the 61.8% Fib retracement. This will likely result in a bearish movement that will lead to the retest of the Inverse head and shoulders or a complete bearish continuation. We also see that a trendline Off the daily has been broken, and this could spark a massive bullish movement if price breaks above 12350.00 Happy Trading!
OANDA:NAS100USD
by WAR_ON_FOREX
🐻US30 BEARISHUS30 has been very bearish for weeks as a result of the Russia Ukraine crisis and rising USD rates. From the impulsive bearish movement price has tested a major supporting trendline on the weekly for the third time, sparking a bullish movement. An inverse head and shoulders was formed and the price broke the neckline, moving higher. The market is now approaching the 61.8% Fib retracement. This will likely result in a bearish movement that will lead to the retest of the Inverse head and shoulders or a complete bearish continuation. CURRENCYCOM:US30 Happy Trading!
UShort
by WAR_ON_FOREX
🐻AUD/USD SHORTAUD/USD has been bearish for the most part but has been stuck in consolidation which could be identified as a correction. The price has formed an expanding pattern which in this context is a continuation pattern. There is a smaller expanding pattern with in the previously mentioned one which in its own context signifies a reversal, adding confluence for a sell. The dollar has recently been strengthening and this will likely lead to the continuation of this bearish move. Price has also broken structure to the downside, forming a lower low, bearish structure. OANDA:AUDUSD
Short
by WAR_ON_FOREX
1
🐂EUR/JPYEUR/JPY has been bullish for some time, giving positives on a previous setup we shared. Price broke out of a resistance and moved higher impulsively, the analysis to this setup is linked below. On the 1H chart, price has now presented a continuation pattern in the form of a flag. We should look to long when price touches the supporting trendline for the third time and changes structure Price has also formed an invers Head & Shoulders, so we should look to buy. OANDA:EURJPY
Long
by WAR_ON_FOREX
2
🐻USD/CAD SHORTUSD/CAD has been moving down recently following the formation and breakout of a pennant on the daily chart. Price has now formed another pennant on the 1H chart. Price showed strong rejections off the previous support with a bearish engulfing pattern The price impulsed downwards and then started correcting. In such cases, another impulse or move downwards may be expected. We should look to sell with targets marked in green. A second target would be at 1.20070 but is for the pennant on the daily chart. OANDA:USDCAD
Short
by WAR_ON_FOREX
🐻XAU/USD VERY HIGH PROBABILITY SHORT (MUST SEE)XAU/USD Has been moving up the past few months. Price reached a major resistance and pivot point on the weekly chart. A very long pin bar was then formed, on the weekly chart, this is a very strong sign of reversals. With price reaching this resistance for the second time and rejecting it for the second time, a double top was formed. On the daily chart, price formed a head & shoulders. These are very string confluences so far. Going lower to the 4H chart we see a bearish continuation pattern AND there are two other patterns within it, also bearish continuation patters. A flag and a rising wedge. There are a lot of buyers sitting around 1920. Every time price breaks below this value cleanly, we see an impulsive move downwards but price has managed to pull back above this price twice. Gold is currently resting on this price level and it seems it is likely to break soon at it is constantly being tested. The sequence of the continuation pattern drawn up has been completed to 4, which is the third touch on the resisting trendline. What we expect now is for price to move downwards then break & retest the support below. We should look to sell when price breaks below the support at 1920 and also the major support around 1890. Take profit should be the price marked in green OANDA:XAUUSD
OANDA:XAUUSDShort
by WAR_ON_FOREX
2
🐻DOGEUSD SHORTDOGE/USD has been bearish since June 2021 The sellers have been resilient and have been dominant for most of the time. Price pushed upward recently, but unfortunately for Dogecoin holders price has formed a head and shoulders, signifying a reversal/continuation to the downside. Price is now moving up, we should expect a retest of the neckline of the Head and Shoulders or the recent low, these areas are where we should look to enter, having our TP in green. To add confluence, price had originally been moving downwards, as highlighted by the trendlines, a bearish flag pattern has been formed, signifying continuations to the downside along with the trendline breakout. CURRENCYCOM:DOGEUSD
DShort
by WAR_ON_FOREX
🐂NZD/USD LONGNZD/USD had been in an uptrend on the daily chart. Price started to correct deeply and no that correction seems to have finished of with an inverse head and shoulders. To add to this, the Elliot wave sequence has completed for this correction and we can expect a reversal of it, hence a continuation to the upside. Price broke the neckline of the Inverse Head and Shoulders and now is giving us a bullish continuation pattern right below key resistance. This signifies a break out build up. We should expect price to break soon but it can come down and then later go up, I'm sticking to longs for now. We should long when price breaks the resistance and target the price marked in green OANDA:NZDUSD
Long
by WAR_ON_FOREX
🐂EUR/JPY LONGEUR/JPY Has been a ranging market for the most part. Price has been ranging since May 2021. this range turned to be a bullish flag, and price was in an uptrend in the weekly. This gives us strong reason to long this market. We recently broke out of the daily trendline and should look for continuations to the upside. I expect price to retrace and respect previous resistance and let it become support, this is where we should look to long with our targets market in green. OANDA:EURJPY
Long
by WAR_ON_FOREX
🐻US100 SHORTUS100 has been quite bullish the previous week. Price has recently reached an area of resistance on the 1D chart and is showing strong rejections off it. Price has now formed a more complex correction which could either be a continuation or a reversal. Considering The overall trend, we could see price break higher as this could just be a breakout build up. I'm more confident in a short position though. When selling, we should look for any bearish signals and the highest probability one would be price testing the trendline for the third time. Targets for shorts should be at the support below. CURRENCYCOM:US100
UShort
by WAR_ON_FOREX
🐻US30 SHORTUS30 has been bullish for the past week or so. On the daily we see a form of inverse head and shoulders forming. On the 4 Hour timeframe I noticed new resistance being formed and price breaking bullish structure. It currently looks like we could expect a head and shoulders, and if it plays out, it will complete the inverse head and shoulders on the daily chart. We should look to short at the 61.8% retracement marked up by the resistance area. Take profit should be at the neckline Risk Management is Key! CURRENCYCOM:US30
UShort
by WAR_ON_FOREX
What's next for the AUSSIE?Risk sentiment this week looks like we could be setting the tone for a risk off environment, however AUSSIE is currently looking under pressure! After it recently broke to the downside from it's larger ascending structure. Zooming into the intraday timeframe, we've had a beautiful retest and high test candle rejection of the previous swing low (inside the structure, and are currently forming a bearish flag continuation, which suggest further room to the downside, with overall pattern completion around the 0.58 handle! That being said we are also conscious that price is currently in the middle of no mans land on the daily timeframe and the recent move to the downside, did not complete it's overall structure, which does show a possibility for the market to create a larger bullish correctional structure to test the highs of the correlating descending daily channel and the 1hour ascending channel around 0.6830 OANDA:AUDUSD
Short
by Phantom_Trading
GOLD !!! Probable vs. PossibleFOREXCOM:XAUUSD Gold!!! Is the Shiny precious metal losing its 'flight to safe haven status' OR is this the opportunity to scale in to our Long positions and ride it to the absolute HIGHS? with the possibility of a potential correction / phase of distribution around the April 2020 swing high? Focusing on the overal market structures, using top down analysis. The 4hour ascending equi channel has played perfectly, however the recent break to the downside wwas in a bvery corrective descending manner whilst inside a 1hour expanding wedge formation, which suggests the probability for a move higher in XAU/USD. We will be looking for the nature of the market to correct into our expanding wedge support level for bullish momentum / closes on the hourly followed by a break and retest ti get long Gold with our first sights set on the april 2020 resistance. If we can break this high we have a lot of 'room' above with the probability of testing the absolute highs! If the market does remain corrective and base / range around these levels we will be looking to short Gold with the view of targeting the 90% probability lows / support area! As the famous band - Midnight Star once Sung !!! You've got the Midas Touch, Everything 'you' touch turns to Gold!!!!! P.S Live your life and be free, you know you can have it all !!!!
OANDA:XAUUSD
by Phantom_Trading
1