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Bearish Patterns

16/09/24 Weekly outlookLast weeks high: $60,638.89 Last weeks low: $54,371.86 Midpoint: 57,505.38 Bitcoins price action mirrored that of the week that proceeded it, with a steady climb from the start of the week, peaking on Friday close, witha weekend sell off to end the week. Looking at the chart the Midpoint needs to hold if there is a chance of continuing the rally beyond $60,000. I could see price action being nervy until the FOMC in midweek. Last week we saw BTC go through multiple news events such as CPI, PPI in the US but also the ECB rate cut decision. The European central bank cut the interest rate from 4.25% to 3.65%, a cut of 60bps. This news has flown under the radar in my opinion, not many people are reporting on it could play a part in the FEDs decision on Wednesday. So far the rate cut looks to be a 25bps reduction from 5.50% to 5.25%. That leaves the US significantly higher than Europe and so in theory Europe would have the opportunity to be more risk-on than America as credit is cheaper. I would think that the US wouldn't like this and would seek to do something about it, that something would be a bigger cut, a 50bps cut closer to the ECB would bring the US more inline. Naturally this being the beginning of the rate cut cycle it's a marathon not a sprint and although the ECB started out strong the cuts may taper off sooner than the US, that's a whole different story but for this week this is the big focus.
by ProR35
TWLO, rebalance to FVG, then make a bullish liquidity run So, my current analysis is built around a bullish bias on this chart. I’ve identified a few key elements that are lining up to potentially signal a strong move upward: Bullish Block Breaker: First, I've identified a bullish block breaker. This occurred when the price broke above a significant resistance level, indicating a shift in market sentiment from bearish to bullish. This breakout suggests that buyers have taken control, and it's often a sign of a potential trend reversal or continuation to the upside. Fair Value Gap (FVG): After the bullish block breaker, the price left behind a Fair Value Gap. This gap is an area of price imbalance, where the market moved too quickly and didn't allow for a balanced trading range. I'm looking for the price to potentially retrace into this FVG, as the market often seeks to 'rebalance' itself by filling this gap. This rebalancing process can provide a strategic entry point. Bullish Order Block with 50% Retracement: Within the area where the FVG resides, I've also identified a bullish order block. This is an area of previous consolidation before the strong upward move. What adds confluence here is the 50% retracement level within this order block. This 50% level is crucial because it often represents a fair value area within the order block itself. Institutions and smart money traders often look to add to their positions around this level. So, if the price can hold above this 50% mark within the order block, it significantly increases the chances of a bounce. Confluence Zone: The combination of the FVG, the bullish order block, and the 50% retracement level creates a strong confluence zone. This area serves as a potential support level where I expect buyers to step in if the bullish bias is to continue. Looking for a Liquidity Run: After potentially rebalancing in the FVG and finding support within the order block at the 50% retracement level, I’ll be looking for the price to make a move towards a liquidity run. The target here would be key liquidity zones, such as previous swing highs or resistance levels. These are areas where stop-loss orders from short sellers or breakout orders from buyers are likely concentrated, acting as a magnet for the price.
NYSE:TWLO
by carrolltatejr87
1
GBPCAD - Technical Analysis [Short Setup]🔹 GBPCAD Analysis on 1HR chart - The current Trend BULLISH - Bearish Divergence is Present - No Reversal pattern - If HL breaks, we will take short position 🔹 Trade Plan - Entry Level = 1.78051 - Stop Loss = 1.78599 - TP1 = 1.775 - TP2 = 1.7696 🔹 Risk Management - First TP is 1:1 - Second TP is 1:2 🔹 How to Take Trade? - Only risk 2% of your portfolio - Take 1% risk entry with 1:1 RR - Take 1% risk entry with 1:2 RR Like and subscribe to never miss a new idea! ✌🏼
Short
by Bountysoul
EUR/USD Weekly Closing Remarks (2024/09/14)Weekly Closing Remarks for EUR/USD (Post-September 13, 2024): EUR/USD closed the week on Friday, September 13, 2024, at 1.1074, maintaining a bearish bias throughout the week. The market remained cautious ahead of next week’s FOMC rate decision, set for Wednesday, September 18, 2024. The Ichimoku cloud continues to display a bearish structure, with price action remaining below the cloud across most significant timeframes. Both the Tenkan-sen and Kijun-sen are aligned in a bearish crossover, signaling continued downward pressure. ADX readings indicate a strong bearish trend, particularly on the daily and weekly timeframes, affirming the strength of the current downtrend. Attempts to rally during the week were short-lived, with resistance at 1.1100 - 1.1120 consistently capping price movements. MACD readings across all timeframes remain in negative territory, signaling that downward momentum is still strong. This week's key drivers included: Eurozone weakness: Ongoing economic challenges in the Eurozone, particularly concerning inflation and growth, continued to weigh on the euro. FOMC expectations: The market is expecting a 25bps rate cut next week, keeping traders cautious and influencing USD strength, which pressured the euro further. Next Week’s Forecast (Week of September 16-20, 2024): The upcoming week will center around the FOMC rate decision on Wednesday, September 18, 2024, with markets anticipating a 25bps rate cut. However, there are still uncertainties, with three potential outcomes: no rate cut, a 25bps cut (the most likely), or a 50bps cut. Importantly, there is no expectation of a rate hike. Each scenario will have significant implications for EUR/USD. Key Scenarios for Next Week: Scenario 1 - 25bps Rate Cut (Market Expectation): The most anticipated outcome is a 25bps rate cut. In this scenario, the euro could see a brief relief rally, testing the resistance zone around 1.1100 - 1.1120. However, given the strength of the bearish trend, any rallies are likely to be short-lived, and sellers will likely re-enter around these levels. If resistance holds, EUR/USD could continue its downward trajectory, targeting the key support levels of 1.1040 - 1.1050. A break below this level could see further declines toward 1.1000, a critical psychological support zone. Scenario 2 - No Rate Cut (Hawkish Surprise): Should the Fed decide to hold rates steady, this would come as a hawkish surprise to the market. In this case, the US dollar would strengthen considerably, exerting immediate downward pressure on EUR/USD. The pair would likely break below 1.1040, accelerating towards 1.1000. Should the downward momentum continue, the next target could be 1.0960 or lower, as the bearish trend strengthens further. Scenario 3 - 50bps Rate Cut (Dovish Shock): A 50bps rate cut would be a dovish surprise and would likely weaken the US dollar, allowing EUR/USD to stage a more significant rally. In this case, EUR/USD could break through the 1.1100 - 1.1120 resistance zone, potentially targeting 1.1170 - 1.1180. However, the overall bearish technical setup may limit further gains, especially if the euro remains fundamentally weak. Key Support and Resistance Levels: Support The key support level is 1.1040 - 1.1050. A break below this level would signal further downside, with 1.1000 as the next psychological support. If bearish momentum accelerates, EUR/USD could test 1.0960. Resistance Resistance remains firm at 1.1100 - 1.1120. If EUR/USD manages to break through this zone, the next target would be 1.1170 - 1.1180, but this will require significant bullish momentum, which is unlikely without a dovish surprise from the Fed. Volatility Considerations: ATR (Average True Range) suggests that volatility is likely to increase next week, especially in the days leading up to and following the FOMC rate decision. Price movements could become more pronounced, particularly during and immediately after the announcement. Expect heightened volatility during the FOMC press conference as the market reacts to the Fed's forward guidance and any signals about future rate cuts. Closing Summary: EUR/USD is set for a potentially volatile week with the FOMC rate decision on Wednesday, September 18, 2024. The most likely outcome is a 25bps rate cut, which could trigger a short-term relief rally, but the overall bearish trend is expected to persist. If the Fed holds rates steady, expect further downside pressure, with EUR/USD likely breaking below 1.1040 and targeting 1.1000 or lower. In the unlikely event of a 50bps cut, the pair may rally towards 1.1170 - 1.1180, but upside gains would likely be capped due to the prevailing bearish sentiment. Traders should prepare for significant price fluctuations and manage risks carefully as we head into this crucial week.
Short
by williamwklee
EURCAD Will Fall! Short! Here is our detailed technical review for EURCAD. Time Frame: 6h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The price is testing a key resistance 1.503. Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 1.498 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
2