Wells Fargo: Diamond Top Bearish BreakdownSInce Reversing at the PCZ of a Bearish Shark WFC has formed a very clear and defined Diamond Structure. I believe that this week we will confirmed a Bearish Breakdown of Structure and the Moving Averages in which that should mark the start of a Volatile Decline to around $20 or even lower.
Bearish Shark
This candle closed will determined everythingThis candle closing price would determine whether I will aggressively engage in this trade.
I need to see a long shadow candlestick pattern formation by our school definition.
Do not that if I decided to engage the trade in the next 3minutes, it means that this trade would be an overnight risk trade.
A retest could save your some moneyIf you have managed to short the USDJPY trade on the Bearish Bat Pattern, congratulation is on the way. If you have not engaged the trade, perhaps you can wait for the market to retest 136.95 on the 1-hourly chart to engage the Bearish Shark Pattern could be the next best thing that could happen to you.
All you need to do is to wait and see if the opportunity presents itself.
I've my Bias to short GBPUSDI've my Bias to short GBPUSD, and that's because I've spotted an RSI Divergence off the Daily chart. To fulfil that trade plan, I've my Bearish Shark Patterns on the 1-hourly chart(left) and patiently wait for a shorting opportunity once the market touch 1.2234.
For trend trading traders, you could wait for a buying opportunity on the 4-hourly chart(right) at 1.1879.
the long wait is overPatience is required if you want to be successful in trading. The consolidation on the 4-hourly chart took sometime before the market finally spiked up and completed the Shark Pattern.
This is the only possible entry price on this Bearish Shark Pattern and should you decide to engage the trade, do note that the trade will be carry over the weekend.
USDCAD - Bearish Shark Pattern retestA Bearish Shark Pattern checkback could allow counter-trend traders to swoop in for a trade.
One thing that you need to take note off, 2 news events are coming up soon.
8Feb
1.30am - CAD - BOC Gov Macklem Speaks
1.40am - USD - US Fed Chair Powell Speaks
An Idea move is to shift stops to entry between 1am-1.15am(SGT)
Conflicting trading ideasOn both Daily Chart and 4-Hourly chart, there is a Bullish confirmation from the Daily Chart Bullish Crab Pattern's with Wedge and RSI Divergence setup and 4-Hourly chart a potential Bullish Flag Pattern.
Personally I'm waiting for a counter-trend trading opportunity on the Bearish Shark Pattern 🦈 traded off at 97.95.
What's your trade plan for this pair?
Very interesting setup on USDCADThis is a very unique situation, where both Weekly and Daily Chart's Point X points to the same potential Bullish Deep Gartley Pattern at X and the 4-Hourly and 1-hourly chart had the same Point X for the Bearish Shark Pattern setup. I'm waiting to engage the Shark Pattern 🦈 and the potential completion point is at 1.3447. Candlestick Pattern confirmation is required.
When it happens, I will be using trading management to "upsize" the trade.
Free 21pips to grabIf you have been following me, you would know this is not the kind of Trade I'll be sharing. But there you go. Shorting on the Red Line and Turning your shorts to long once it has a pattern confirmation on the blue like is where you get to long the same pair.
It's kind like free money, until it doesn't work.
If I have to pick a side, I will focus in looking for a Shorting opportunity, and that's because a Bearish Shark Pattern 🦈 has formed up.
NZDUSD SHORT: Bearish ReversalNZDUSD is about to make a Reversal, with a Bearish Wave expected.
I am expecting an Impulse Wave in Minor C (orng).
My Kiwi Technicals:
* Elliott Wave Reversal
* Leading Diagonal in Minor C (orng), of Intermediate (W) (orng)
* Upcoming Bearish Divergence
* 61.8% Fibonacci Retracement
* 127.2% Fibonacci Extension
* Harmonic Pattern: Bearish Shark
* Supply Zone
NZDUSD SELL Signal:
* Entry @ 0.6400
* SL @ 0.6630
* TP1 @ 0.6135
* TP2 @ 0.5900
* TP3 @ 0.5730
* Safety Measure: when in the green, moving SL to BE.
* SELL Stops on the way down, after pull-backs.
Many pips ahead!
Richard, the Wave Jedi.
Bearish Shark and Bearish BAMM Continuation on Best BuyThis is a continuation trade to a previous Bearish BAMM Range Breakdown trade. BBY has a Bearish Shark with MACD Hidden Bearish Divergence visible in the area of a Potential Right Shoulder of a Head and Shoulders Pattern that could take us down to around $40-$30 if real.
Bitcoin: 3 Falling Peaks In Harmonic RangeBTC is trading within a Harmonic Range today and while the Bearish Shark did perform well last night, ultimately price has come back up and created a Bearish Bat at the VAH while showing Bearish Divergence on Volatility. As the 89SMA approaches i'd want to see BTC come down towards and break the confirmation line to begin a move down to $16,500-$15,000 to complete the bearish wave down and start fresh on the new week.
Murderous Intent on GBPAUDI have a murderous intent on the GBPAUD, it is not because of revenge trade, heck, I don't even have any recent losing trades, and I've been trading for some time so I don't do that, but that is because I spotted something that many traders have missed out.
RSI Divergence on both the Daily Chart and 1-hourly chart. To top it up, on the Weekly Chart, the GBPAUD is on the Key Resistance Level.
As usual, there are a few ways to engage the trade, but I'm waiting for the candlestick pattern to retest 1.8214 for a shorting opportunity, so that it gives me a better Profit Factor.
GBPUSD-Weekly Market Analysis-Dec22,Wk3On the Weekly Chart, the candlestick paused and reversed on the Key Resistance Level, and because of that, I have a Bearish bias on the GBPUSD trade.
Two levels of trading opportunity present themselves on the 1-hourly chart.
Structure-based setup, where the resistance level sits at 1.2222 or a Bearish Shark Pattern trading setup that completes at 1.2329.