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Bearish Flag

USDCAD Long Term Downside SetupUSDCAD Weekly chart gives us an indication of overall price momentum to the downside as price has retested the weekly resistance zone of 1.35200. Overall a break in upwards channel from 1.34150 has seen USDCAD sustain its shorts over the last 3weeks. After a break - Price will usually form a pullback/consolidation zone. Perfect for re-entries. A Weekly Pullback from Support Zone of 1.30200 has encountered yet another wall of weekly resistance of 1.31500. Weekly Depicted Below Daily Chart gives us a bearish flag continuation pattern with ideal swing target set at 1.25000 See below D1 Down to the 4HR Chart, a huge range of consolidation confirms our higher time frame bias on going short on USDCAD Overall . It is important to note that the only driver of higher CAD prices could indeed be fundamental news/ lower OIL prices. Fundamentally CAD sees itself losing steam gained against the USD as FED may hold true of cutting rates.
Short
by HuracanFX
GBP/AUD SETUP - possible entry and stop loss included Hello all, I have a potential short setup for you. A bear flag has emerged on the GBP/AUD pair on the 4 hour chart. Enter on a breakdown of the bear flag. _______ (possible) entry: 1.7683 (possible) stop loss: 1.7790 (possible) 1st profit target: 1.7620 (pivot low of the trend leg) --from there on trailing stop losses accordingly-- ______ Remember, only use this trade idea in line with YOUR OWN trading strategy. This is the bare bones of an idea that should only be implemented in conjunction with your own trading system. Also, PLEASE KEEP IN MIND the ongoing Brexit developments which may lead to unpredictable fluctuations in price. In particular, the two leading candidates in line to become Prime Minister next week have both publicly stated that they are open to the idea of a No Brexit situation concerning the October 31 deadline. This has caused some political friction within the UK Parliament and with the EU. Happy trading!
Short
by alexkrec
Possibility of a doubletop in play; if triggered 6k target. a large price dump that was instigated by a 3hr chart deathcross has us now potentially about to break down from what looks like a double top on the 1 day chart...price action is currently below the neckline and is right now trying to retest that neckline...if the retest is rejected then odds are good we will break down from the double top and retest the 1 day 200ma down at 6k. However I wouldn't be sure of a rejection until at least 1-2 1day confirmation candles + bearish volume surge to go with it...we are also currently testing the breakdown of a 1hr bear flag pattern which could dip to 8.6k. If we go to 8.6k odds are very good we will be filling the 8.5k gap from the CME futures chart....whether or not we'd reach the full dip target of the double top of 6k is uncertain considering there is also the famous "golden pocket" on the fib retracement right at 7.2 which we also had a small gap on on the cme futures charts....so dipping to the 7.2k zone would fill the final gap below us and reach that always magical bounce level of 61.8%. We can see the 8.5 level also hits a very significant fib line as well as it has confluence with the 50% retracement line. So we may see bounces at both of these zones or support for candle closes. However 6k is also a possibility because of the double top which also has confluence being double reinforced support with the 1 day charts 200ma which should provide solid support. My move is going to be to wait for price action to retest the yellow neckline of the double bottom and if the daily candles confirm solidified resistance I'm then going to short and ladder out portions at a time at a couple pips above 8.6, 8.5, 7.2, and 6.1k respectively...until I get the confirmation of resistance/rejection at the neckline however I remain neutral for now...with slight bias temporarily to the downside. During this downtrend we may see some altcoins make gains against btc such as xrp. I also believe that when this correction is over the next leg up bitcoin will be taking alt coins with it and they may even lead the 2nd leg up. I think the next temporary leg down on btc will coincide with a 4day deathcross and the next significant longterm leg up will coincide with a 3 day golden cross.
COINBASE:BTCUSD
by DrDovetail
2
eur/nzd short term set up.Euro has its ECB meeting couple days ago and the market was looking very bearish news came out. Weekly timeframe shows no indication of momentum however, if we delve into the daily we can see a bearish flag pattern. Inside that pattern, we see 2 bear flags on the 4hr and 1hr as well which shows the continued momentum the sellers have. Remember guys impulse and correction moves are all we need to figure out where the market is going. Entry, stop loss and take profits are all listed on this.
Short
by chiefcapitalfx
CHFJPY Sell IdeaD1 - Price is moving inside a bearish flag and is holding below the downtrend line, potential bearish hidden divergence. H4- We have two critical zones that has formed based on the fibo levels of the cycles, the top of the daily bearish flag pattern and the daily downtrend line. Price has currently reached the first critical zone, bearish divergence. Until this critical zone holds may expect bearish moves. Alternatively if the price moves higher then the next area to look for bearish setups with bearish evidences would be the second critical zone. Invalidation: If the price moves higher and breaks above the daily downtrend line then this sell idea would be invalidated.
Short
by VladimirRibakov