GBPUSD - ContinuationIt seems like this pair is going to be moving down even further than it already has, this comes from the fact that a bearish flag is forming. The flag had started to form as the RSI hit the oversold level, meaning this could very well be a period of consolidation. An eye should be kept on which side the price breaks out the flag, it is very likely that the price would break out the bottom, sending this pair downwards. I will keep this graph updated over the coming days.
Bearish Flag
Crude WTI Oil Short 1 Hour Trade IdeaCrude Oil Short
After seeing the first drop at 60.25, oil has been declining ever since.
And a bearish flag pattern is seen on the 1 hour.
I see this as a CP (Continuation Pattern)
To tie in this thought, I also see compression into demand where buyers keep buying until it reaches an area where supply exceeds demand and it quickly falls,
Within that blue zone, price will form supply once more and freefall.
This is a high probability, low risk trade forming.
Easy 6R trade!
Until next time beloved!
Analysis on AUDSGD 2019-20As market break the Bearish Trendline, a recent resistance line at 0.9687 became an important level to look at, if AUDSGD fail the break to the upside of the parallel trendline is a high possibility that AUDSGD will be trading lower than 0.9569*.
I'm certainly more bearish than bullish on this counter as for now.
USDJPY Sell IdeaD1 - Price reached a critical zone, bearish divergence, moved lower and broke below the trend line.
Currently it looks like the price is retesting the trend line breakout.
H1 - Bearish flag, once we get a valid breakout below the bottom of this flag, we may then start looking for sells with bearish evidences.
Trading waves inside the Bearish Wedge, Part 5So far this long term short trade is going very good, caught a decent first entry and a perfect second entry (yellow circles). Now there are 2 things i will watch:
1) If we move up and break the red zone, i will close half and wait for a re entry.
2) If we drop and break that big green support zone, i will increase 50 to 100% at the yellow circle. So after seeing something like a bear flag form below that area.
Previous analysis: