NZDJPY: Bearish Dragon on the Weekly Timeframe.We have a Bearish Dragon and a Gartley Bearish BAMM on the higher timeframes for NZDJPY. Yesterday i Attempted an entry on a Lower Timeframe but was unsuccessful; However, I still have a Higher Timeframe Bearish Bias and I will be maintaining my Bearish entry and even adding to it at this current price level for the Probability of Realizing the Greater Move down as I am currently quite Bullish on the Japanese Yen in General especially due to how much the Yen has been beaten down as of late a recovery should be in order for the Yen.
Bearishdragon
Chinese SSE 50 Index Bearish Dragon with 1.618 TargetThe top 50 stocks in the Shanghai Composite Index look to be collectively forming a Bearish Chinese Dragon which if it breaks down could very well send it straight down to the 1.618 Extension given that there's is only one little Support Zone Below us after the trendline is broken. Given this very great Potential Danger that is visible on the chart i will be Avoiding Investment into Chinese Assets in the foreseeable future.
LUNCUSDT 4 Hour RSI Continues to Show Signs of WeaknessI'v Been Awaiting the 4 Hour RSI to Show Weakness before attempting a Second Short on LUNC as the Bearish Dragon Watch is still in effect and we are still trading between the 50% and 61.8% Retraces; Once the RSI breaks through the Bearish Dragon Triggerline we will likely be in full on Warning Mode of coming back down to fill most of the Voids below.
I believe that during this time we will see the RSI make an 88.6% retracement before continuing higher.
Bearish Dragon with Bearish DivergenceWe have bearish Divergence on both the MACD and RSI and are Back Testing a Trendline as new Resistance this looks like it will lead new lows.
$GM: Double Top and Bearish Dragon with Bearish Divergence.Over the last few weeks i have been suspicious of GM's Price Action and have been awaiting a Sign of Weakness at a Local Top. Last week it seems to made a Higher High but showed even more Weakness on the RSI and MACD along with Elevated Volume.
I believe price action is suggested to the chart that GM will come back down to test the trendline and if broken make a deep retrace to atleast test the 0.618 Fibonacci level.
Weekly Bearish Continuation on Cardona Seems To Be Confirmed I posted some setups on lower timeframes awhile back near 3 dollars and over that time period ADA has pulled back and closed below this weekly trendline and now it seems that we will be going for much deeper targets Potentially down below 80 cents.
Potential Bearish Dragon There are lots of patterns which confirm coming bearish wave 3rd level of Elliot wave on its way and most importantly this reverse Dragon pattern in 15min so if you sold at 1.0630 there will be still a lots of room for gains, if not still there will be possible small hump (Max=1.05970 &1.06) so you can sell from there again, usually SL should be bigger than second leg of Dragon (C) in this case you can trade a risk free at 1.06 (SL=30pips) Target1=1.05288 Target2=1.04980 Target3=1.03890