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Bearish-signal

GOLD Might Face a Major Sell-Off SoonGOLD has been following a descending wedge since last summer. The elections caused a surge in demand, but things went better than expected and risk hedging died off. With the current macro political and economic climate I see that the demand for gold is dying, which would cause the price to fall. The descending wedge pattern is a classically bearish pattern, where the price makes lower highs but keeps on bouncing from the lower support line. Wait for the price to close below the yellow line before entering a short position on gold. Consider support 1 and support 2 as good opportunities to take some profits. These numbers are chosen since they are based on nice round numbers. For reference, check out my other post about my multi-year bearish analysis of gold.
OANDA:XAUUSDShort
by FieryTrading
EUR/CAD Reversing - Short OpportunityCAD/CHF has formed a channel since August. Currently the price is in an area of potential short-term reversal towards the lower trend line. We want to make sure that the price is actually bouncing off the trend line , so wait for a 4H candle to close below the confirmation line before entering the trade. Consider the Target line as a potential profit target. It's placed at the point where the price last touched the lower tend line of the channel.
Short
by FieryTrading
SP500 On a CrossroadWe've all seen the massive bullish movements of the markets today. And luckily for us, volatility means new chances. In my previous post I argued that the SP500 was prone for a correction, especially after the massive rally it had since the election. Little did I know about today: a corona vaccin. Currently the SP500 is above the (logarithmic) trendline that it has been following since 2008. Only two times to this day, see the yellow circles on the graph. The first yellow circle made an end to the crazy summer rally we had this year. The second yellow circle marks today. Does this mean that the market will fall soon? Maybe. I guess everyone can agree that we are in a very overheated market at the moment. It'd be too early to go short straight away, there's too much bullish force behind the current market. Wait untill today's gap has been closed at the very least. On the other hand, if we keep climbing we might actually see 3800 points sooner than later.
AMEX:SPYShort
by FieryTrading
LINK Bearish Bounce off Trend LineIn my last post I predicted that Link would follow the upward channel. It seems that Link will follow this channel at least one more time: the upper resistance held strong and major selling pressure emerged. Also, the RSI on the 4H chart shows that Link is massively overbought at the moment, signalling a short-term correction. The green area would be a great spot to close your short position and consider going long again. In the long-term I'm still very bullish on Link, so going long (or staying it) would still be adviced. If Link were to break through the dotted blue line, the channel is broken and could signal a big bullish move.
Short
by FieryTrading
SP500 Bearish CorrectionA few days ago I made the preditction that the SP500 was likely to bounce from the lower trend line towards the uper trend line. Suprisingly that prediction came true within 2 days. Now I see a new reversal on the horizon. The SP500 has hit its upper trend line and is falling again. The fact that the RSI was majorly overbought makes the reversal even more likely. Before entering the trade, wait for confirmation. I chose the 3450 area for this, but you are free to chose which area you deem important to break. The marked Target area would be a great place to exit your position since it's at the lower trend line, which has already been indicated as a strong area of support.
OANDA:SPX500USDShort
by FieryTrading
1
USD/JPY 15-MONTH SUPPORT BROKENUSD/JPY has broken through its 15-month support, signalling the completion of the falling wedge pattern. Today it broke through the support with sufficient force to signal a new downtrend. Consider Target Area 1 as the most conservative target in the coming weeks. If it succeeds to break through this support, consider exiting your position at the second target area. The second target is to be considered a very strong area of support since its placed at the COVID-crisis low.
Short
by FieryTrading