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Breakdown

EURJPY | Perspective for the new weekWe were unable to open a Bearish position in my last publication on this pair as the price continued to find a higher level ( see link below for reference purposes) but the current structure transposing into a Head & Shoulder - a strong reversal pattern suggests that the bears might lead to further decrease in price in the meantime. Tendency: Downtrend (Bearish) Structure: Reversal pattern (H & S) | Supply & Demand Observation: i. It is obvious that the price has continued to climb high for the Euro since the beginning of the year 2021 and it appears to be at a juncture where we might consider the beginning of a temporary correction after observing the appearance of a Head & Shoulder pattern. ii. Head & Shoulder: A baseline with three peaks; the outside two are close in height and the middle is highest describes a specific formation that predicts a bullish-to-bearish trend reversal. iii. The later part of last week witnessed price breaking down Y132.800, a level which held price "Supported" (Demand zone) in the last 17days with clues suggesting a risk of further decline in the nearest future. iv. In this regard, I have identified a niche for selling opportunity around Y133.400/133.000 should the price climb up early in the new week. v. Below Key level II @ Y132.800 might be a level for conscious trading as price running below the Neckline gives succour for Bearish momentum... Trade consciously! 😊 Trading plan: SELL confirmation with a minimum potential profit of 100 pips. Risk/Reward : 1:3 Potential Duration: 3 to 7 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
EURUSD | Perspective for the new week | Follow-upWe are yet to find an avenue for Bearish confirmation since my last publication on this pair as the price continues to find a higher high (see link below for reference purposes). Continuous rejection of the $1.22500 level since mid-May 2021 is a clue pointing at the possibility of a bearish momentum building up at this juncture in the market. The prospect of positive clues on Federal Reserve monetary policy and weakness in the euro appears to be restoring some confidence back for the Greenback in the coming week(s) as I am looking forward to a Breakdown/Retest of Neckline which is also a Key level @ $1.21200 for confirmation. Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Trendline Observation: i. The line drawn under pivot lows is a visual representation of the prevailing direction and speed of price action in the last couple of months. ii. We have witnessed a sharp rise in the value of the Euro since the beginning of April 2021 and the multiple rejections at the $1.22500 area reveal a decline in Bullish momentum as Sellers appear to be on the verge of dictating the direction of price action in the nearest future. iii. Breakdown of Trendline on the 3rd of June followed by a sharp rejection of same during last week trading session anticipates a change in direction. iv. In this regard, I shall be looking forward to a Breakdown/Retest of Neckline (Key level I) @ $1.21200 for confirmations in the coming week. v. Further plunge below Key level II @ $1.19500 might welcome addition to the existing position... Trade consciously! :) Trading plan: SELL confirmation with a minimum potential profit of 250 pips. Risk/Reward : 1:6 Potential Duration: 5 to 10days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
6
BTC-USD(Bearish Pennant Breakdown)After a brief consolidation in the last two weeks, BTC opened this week with negative sentiments. BTC formed a Doji candlestick on the weekly TF which depicts that market participants are currently in a state of indecision. At the time of writing, BTC is already down by more than 7% on the weekly basis. On the downside, BTC is trying to sustain above its 50-WEMA which is placed at $33.4K, however, if we get a decisive closing below this level, the next significant support is present at $30K as 0.618 Fibonacci retracement level is present here, followed by the next major support at $27.7K On the higher side, BTC is not able to close above its 0.50 Fib retracement level, present at $37K on the weekly basis, however, if we get a breakout from this level, the next resistance is placed at $40K followed by $43K. On the Daily TF, BTC has already given a breakdown from its bearish pennant formation and broke its ascending trendline support, along with a death crossover, which depicts selling pressure is most likely to continue in the coming sessions. Daily RSI has also broken its ascending trendline which also signals bearish sentiments.
COINBASE:BTCUSDShort
by TradeDog-Research
Channel pattern in BTCUSD: move towards $33k, or towards $38k ?Market in the last 24hrs BTCUSD remained in consolidation. Trading volume has spiked up lately. Today’s Trend analysis BTCUSD is likely to move in the channel pattern in the immediate short term. Price volatility remained significantly low at approximately 0.85%, with the day's range between $35532.17 — $36808.30. Price at the time of publishing: $36106.72 BTC's market cap: $675.64 Billion Out of 11 Oscillator indicators, 9 are neutral, and 1 each on BUY and SELL side. Out of 15 Moving average indicators, 13 are giving a BUY signal, and 1 is neutral. Indicator summary is giving a 'SELL' signal on BTCUSD . Volumes have spiked up in the past 24 hours. ---------------------------------------------------------------------------------------- The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles. Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume . ---------------------------------------------------------------------------------------- Any feedback and suggestions would help in further improving the analysis!
BITSTAMP:BTCUSDShort
by Mudrex
2
BTCUSD 4h. Symmetrical Triangle - Breakdown. Target 24KHi everyone, Thank you for considering reading my idea. This is a separate update from my previous idea. But now, we are breaking down the symmetrical triangle. The target of this pattern is at 24K. There is a possibility that this is maybe fakeout just like what we had 2 days ago. Though, if it's not, we may need hold support at 29-31K, our last support before breaking to our target at 24K. Like this idea and follow me for more analysis like this. Cheers, Juvs
BITSTAMP:BTCUSDShort
by Juvssss
1
EURUSD: Weekly Forecast 20210606EURUSD had a breakdown as it broke below the bottom of a 2-month rising channel. The price managed to recover some losses on Friday amid weaker than expected NFP but stayed resisted right at a neckline at 1.2170. EURUSD is now expected to stay in a ranging mode and since the price is now at a high coupled with a breakdown, we are expecting more downward movement in the coming week. This week, we will look for selling opportunities around 1.2170 and targeting 1.20, the equilibrium level of the current range.
Short
by AlgoVenture
GBP/JPY in a triangel, H4 near a sharp moveHi again Guys. I'm here with an interesting idea about GBP/JPY. The chart shows everything very clearly. In daily timeframe we are in an uptrend, but in H4 we have the triangel and this can indicate a weakening or temporary reversal of trend. Only if the price breakdown the 153.500 it going to be a downtrend in H4, Also the price can continue its bullish trend only if cross over the 154.800 You can enter a trade after breaking the numbers we told after a nice pullback of course. Which do you think will happen, 1 or 2 ? Thanks for your attention! :)
by Ez-QMfx
3
H&S reaches its precise measured move breakdown target.BTC has dropped 50% from it's all time high as the pi cycle top indicator has essentially been validated here...however this does not necessarily mean the end of the bull market. We have now seen a healthy bounce once the priceaction reached the exact drop target from the h&s pattern of 30k....anything above 28.7k gives us a higher low on the weekly....normally i look for higher lows and highs on the daily chart but we may have enter a new macrocosm to where a bull market can continue as long as there is a higher low on the weekly instead...time will tell soon enough....there's no guarantee this isn't anything more than a dead cat bounce. However, we can see the hash ribbon indicator is once again very close to a buy signal and it has been quite reliable in the past so this may very well have been the correction. We will have to see where this bounces....regaining 40k as solidified support before the weekly close would be a very optimistic sign. Ideally to see bullish continuation I'd want to see the weekly candle close with the weekly 21ema as support...it's only Wednesday so plenty of time for that still to occur. if this is a dead cat however we need to entertain the possibility that we could fall as low as the weekly 200ma. for now I am neutral.
COINBASE:BTCUSD
by DrDovetail
CADJPY | Perspective for the new week | Follow-UpWith over 800pips run since my last publication (see link below for reference purposes); It appears we are at a juncture in the market where a trading opportunity is building up as structures insinuates a reversal. The CADJPY pair appears to be losing its bullish strength since hitting her peak @ Y 90.600 which was followed by Lower lows that culminated in a successful Breakdown of Key level I @ Y90.350 during last week trading session. However, this bearish potential seems limited at the time being as we still need to keep our fingers crossed for further confirmations that will trigger selling opportunity ( a possible correction phase in anticipation of a rally continuation). Tendency: Downtrend ( Bearish) Structure: Breakdown | Supply & Demand | Trendline Observation: i. The Bullish Trendline indicated on the chart has been a significant factor in deciding the prevailing direction of price action since last month. ii. Pivot point Ito IV emphasizes a visual representation of price action respecting a support line. iii. It is observed that the thrust from Pivot IV appear to have lost momentum which has been consistent with the pattern in the past as the price rejects Y90.500 during last week trading session. iv. The rejection of Y90.500 give rise to the appearance of the Double Top pattern - an extremely bearish technical reversal pattern that forms after the price reaches a peak two consecutive times with a moderate decline between the two highs. v. This been said, I shall be looking forward to a Breakdown/Retest of Trendline which shall also coincide with Breakdown of Neckline (Key level II) @ Y90.000 (a psychological level) for confirmation in the coming week(s). vi. CAUTION: A Breakout/Retest of Y90.350 shall render this set-up invalid with the possibility of rally positive. Please note that we are looking for an opportunity for Bearish momentum below Trendline... Trade consciously! :) Trading plan: SELL confirmation with a minimum potential profit of 150 pips. Risk/Reward : 1:5 Potential Duration: 2 to 6 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
GBPCHF | Perspective for the new week | Follow-UpWith over a thousand pips since my last publication on this pair (see link below for reference purposes); The Pound has enjoyed dominance over the Swiss franc in the last couple of months and we are presently witnessing a drop in Bullish momentum as price action appears to have transitioned into a corrective phase since the successful Breakdown of Fr1.28000 (Key level) on the 7th of April 2021. Even though we are on an overall Bullish trend (see weekly chart); I am planning to take a counter-trade opportunity on this pair, why? We might be experiencing a risk of further decline in the coming week(s) as participants who took advantage of the Bull do quick profit-taking with high hopes of a rally in the nearest future. Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand Observation: i. Breakdown of Key level @ Fr1.28000 has been followed with the multiple rejections of this level as price continues to trade under in the last one month. ii. From a Bearish perspective, trading below Fr1.28000/1.27000 seems to be a safe juncture to place sell orders in the coming week(s). iii. Even as Bearish momentum appears imminent, it is important that we take into consideration the major Demand zone @ Fr1.26000/1.25500 area which has held price "supported" since Feb 2021. iv. With such a strong Demand level ahead of us on this Bearish journey, it is advisable that we remain conscious as any significant rejection of this level might incite a rally continuation. v. However, should a Breakdown of Demand level happens in the coming week(s); an opportunity to add a position at retest appears to be most appropriate. vi. CAUTION: a. Break above and retest of Fr1.280000 incites rally continuation b. Long term perspective is Bullish hence the need to be conscious throughout the course of this trade is VERY VERY important... Trade consciously! :) Trading plan: SELL confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:4 Potential Duration: 6 to 10days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
2
EURCHF | Perspective for the new weekAfter moving over 350pips in our direction since my last speculation on this pair (see link below for reference purposes); the breakdown of the Demand zone which has held price "Supported" in the last 70 days was finally broken to the downside giving rise to a "quick" counter-trend opportunity in the coming week(s). Tendency: Downtrend ( Bearish ) Structure: Supply & Demand | Breakdown | Trendline Observation: i. The Bullish run that began mid-February 2021 and peaked @ Fr1.11500 appears to be going through a Corrective phase. ii. The Breakdown of Fr1.09800 during last week trading session signals the seller's strength at this juncture in the market. iii. With Bearish tendencies "screaming" since Breakdown, I am of the opinion that a potential new Supply level around Fr1.0200/1.09800 shall crystallize in the coming week. iv. A comfort entry after a further Breakdown/retest of Key level @ Fr1.09500 in the coming week(s) should trigger confirmation with the aim of testing Bullish Trendline (Check the weekly chart below). v.This been said, there is also a possibility that the Bullish trendline on the weekly chart might be broken (considering the long-term bearish perspective) hereby welcoming an opportunity to add position at retest... Trade consciously! :) Trading plan: SELL confirmation with a minimum potential profit of 130 pips. Risk/Reward : 1:4 Potential Duration: 5 to 10days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
$SPY Could Drop To $396The S&P 500 has slowed down in its growth and needs a correction soon. On this daily chart, you can see a rounding top forming near an important resistance line. In addition to that, the RSI has formed a bearish divergence pattern. We are also still in a major earnings season. I have added a fibonacci retracement to the chart to show that that 50% retracement at $396 has been an important level in the past. This price level could potentially act as support in the near future. Comment your thoughts :) Good Luck!
AMEX:SPYShort
by Investor4321
4