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Bearish-divergence

Bitcoin Double Combination Breaking Down (Elliott Wave Analysis) Continuing from the last chart that I published, It looks like we just completed Wave (b) as a double combination. The confirmations are the count (zigzag x triangle), the break down of the B-B baseline, the break down out of the A-A Channel, momentum divergences, and the time of Wave (b) being just slightly longer than 1.0 of Wave (a). Also the fact that this channeled so well is a good indication that the whole move is a complex correction and not an impulse. The implications of this pattern are actually very bullish, that being said we shouldn't retrace more than 80% of Wave (b) on this bear run which will form a c-failure flat (or possibly a non-limiting triangle, depending on if wave (c) is impulsive or not). Since Waves (a) and (b) are so similar in time, it is very likely that Wave (c) will either be much shorter in time (probably 0.618 of Wave (a)) OR much longer (probably the length of (a)+(c) or 1.618 of (a)) and it definitely will not be the same length in time as either (a) or (b). I think that it being shorter is the more likely scenario because that actually puts this time target right on New Years Eve around 11pm EST which I think is perfect because there is suppose to be a lot of news for Bitcoin at the start of 2016. This downtrend will give us just enough room to trap out a lot of bears and get people to close their longs which will help compound the strength of the uptrend once everyone starts panic buying and closing their shorts. Since this double combination ends with a non-limiting triangle we should not return to the apex of the triangle, if such a scenario occurs it would be smart to close shorts until a new count can be discovered and confirmed. For now, though, this looks like a great place to go short. “Don’t let the fear of striking out get in your way.” -Babe Ruth "Every artist was first an amateur" - Ralph Waldo Emerson Good luck and Happy Trading!
BITFINEX:BTCUSDShort
by Intuit
4
USD/CAD Bearish Divergence Set UpA bit late in posting, but since my entry short hasn't triggered, I though I'd write a quick post. So price met resistance at the 1.3350 area and closed underneath as a high test bar. A short entry signal is pronounced with the accompaniment of oscillator divergence on the Stochastic and RSI indicator. As it is Friday, there is a lull in the markets as usually is, price may still fail to trigger an entry short and they way the price bar appears now price action may close as an inside bar for which a short entry can be revised. entry - below low of high test bar or low of inside bar stop loss - above high of high test bar target - previous low/lower
by amanpaulbhogal
EURUSD: Buy USDHello traders. Today on FX:EURUSD we have very nice structure based short opportunity, that is double top. We see that price tested the structure resistance and now, if the price retests the structure level @1.1243, but doesn't close above the resistance, we should go short on NBM. Besides there are very good confluences here: Left top is overbought Bearish divergence is going to form Very nice resistance, look left Fibs 61.8 of AB leg Our profit target will be the Green Zone which is 38.2 fibs of CD leg and 61.8 fibs of BC leg. Besides we have weekly PP up there. So, get ready to sell EUR. ------------------------------------------------------------------------------------------ ATTENTION : Very soon, High cashback service will be launched for you traders. Follow me, in order to be informed as soon as we are ready to offer you the best and transparent rebate services from leading forex brokers. Besides, you can PM me which brokers you would like to be under our list. And reserve your sits, before the launch of the service. Don’t forget -Every Cent Counts-
Short
by RCP
Divergence, again, on USD/CADAlthough in a healthy uptrend, USDCAD has run into resistance at ~1.3070 which happens to be a price level on the weekly chart that has previously been tested (as support in April 2004 and resistance in March 2009). Price closed below this level on Friday as a high test bar. Coupled with bearish divergence on the Stochastic and RSI indicator a price action behaviour is suggestive of bearish sentiment. Judging by the optimistic Fed outlook to raise interest rates, and positive expectation from the US economy from improving economic data, a stronger US Dollar is likely to continue. The following short setup banks on a technical perspective to take advantage of a sell signal; potentially a temporary run. entry - below low of high test bar stop loss - above high of high test bar target - previous level at ~1.2771
Short
by amanpaulbhogal
Bearish divergence on USD/CADUsing bearish divergence to build a case for reversal trading on USD/CAD with the following favouring a potential short scenario: - resistance (3rd touch) at ~1.2800 - bearish high test close below resistance - price reaches and closes below 1.272 Fibonacci extension level - Stochastic and RSI bearish divergence entry - below low of high test stop loss - above high of high test (placement is discretionary) target - 20 or 50 ema, or previous horizontal level Caution for conservative traders: Fed Chair Janet Yellen testifies at 10:00 EST
Short
by amanpaulbhogal