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Breakdown

NZDCAD | PERSPECTIVE FOR THE NEW WEEKWith over 350pips in our direction since my last publication (see link below for reference purposes); we are at a zone where the rejection of the Weekly resistance(Trendline) is happening with a tendency of decline in the coming week(s) feasible. Tendency: Downtrend ( Bearish ) Structure: Trendline | Supply & Demand Observation: i. As price continues to respect the Bearish Trendline since it hit peak @ $2,075.50 (August 2020) forming Lower Highs and Lower Lows, my Bearish bias becomes emphatic. ii. Rejection of the Supply zone coincides with 61.8 retracements of Impulse leg XA with the possibility of a 1.272/1.414 Extension as a Profit target. Trading plan: SELL confirmation with a minimum potential profit of 300 pips. Risk/Reward: 1:3 Potential Duration: 10 to 20 days NB: This speculation can be considered to make decisions on lower timeframes. 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.
Short
by darcsherry
TSLA holds at support (bullish)After falling out of a steep channel (break down at the (450 level) and then crossing a long-term, second uptrending support line(440 level), Tesla has finally bounced at its third support line (320 level). The RSI just bounced at the support line and is soon going to meet resistance, so the RSI should breakout soon. For those looking for a short-term call, you might want to consider taking an entry if the the price hits yesterday’s low (343.50), set a stop loss for today’s high (around 368), and take profits at the opening level of two days ago (400.)
NASDAQ:TSLA
by Isaiahgr3
1
GBPUSD | PERSPECTIVE FOR THE WEEKWith over 100pips against us since my last publication (see link below for reference purposes); The increasing risk of a No-Deal Brexit is beginning to reflect in market structure as momentum remains to the downside which is also aligning with my last week expectations. Breakdown of my Key level @ 1.33000 on Friday with an Engulfing Bearish candle sets the Pound for its first weekly loss in a month with a risk of further decline in the coming week(s) as I look forward to a retest of this zone. Tendency: Downtrend ( Bearish ) Structure: Trendline | Breakdown | Support & Resistance Observation: i. From a holistic perspective, the GBPUSD is sitting on an uptrend prevailing structure considering Bullish Trendline on our Daily chart. ii. Since the price hit peak @ 1.35000 (a psychological level respected since Nov. 2017), we have experienced a downward spiral since the beginning of the month (Sept. 2020). iii. Breakdown of my Key level coupled with a breakdown of the Temporary trendline (1.32000) is a confluence that could signal a decline in the coming week(s). Trading plan: SELL confirmation with a minimum potential profit of 600 pips. Risk/Reward: 1:6 Potential Duration: 4 to 10days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex 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
USDCAD | MY PERSPECTIVE FOR THE WEEKAs price moved over 150pips in our direction since my last publication (see link below for reference purposes); the Canadian dollar continues to benefit from the modest sort-rate spread between US and Canadian bonds. Friday's market watch posted a considerable gain for the CAD as it closed the day with an engulfing Bearish candle... this view at the market pre-empt me to consider a Bearish bias on this pair as I continue to look out for selling opportunity off sensitive resistance level on lower timeframes. Tendency: Downtrend ( Bearish ) Structure: Trendline | Support & Resistance | Breakdown Observation: i. Price action continues to fall within the confines of my Bearish Trendline represented on the chart. ii. Breakdown of my Key level @ 1.31500 during the week (Thursday - 27th August) followed by a possible retest of this level is more than enough for me to initiate a SELL on this one! iii. My 1.31500 level shall be a yardstick to hold my SELL bias in the coming week. iv. Having explained this, it's pertinent that I state here that a Breakout/Retest of this Key level might render this set-up invalid as a Rally could be in the air. Trading plan: SELL confirmation with a minimum potential profit of 120 pips. Risk/Reward: 1:3 Potential Duration: 4 to 10 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex 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
USDJPY | MY PERSPECTIVE FOR THE WEEKWith over 100pips in our direction since my last publication (see link below for reference purposes); we continue to experience an appreciation in favor of the Yen as the Greenback resumes her decline late into the Asian session of Friday as traders absorb the implications of the Fed's policy shift; herby extending its slide to touch its lowest level since mid-August 2020. Tendency: Downtrend ( Bearish ) Structure: Trendline | Supply & Demand Observation: i. Price action continues to respect Day chart Bearish Trendline since February 2020 as market closed on Friday with a significant Bearish engulfing candle. ii. Breakdown of Support @ 105.500 coincidings with Breakdown of Bullish Trendline reveals the strength of Sellers in the market at this juncture as I anticipate a further Breakdown of structure @ 105.000. iii. It is advisable to look out for correction in anticipation of a decline in the coming week(s). Trading plan: SELL confirmation with a minimum potential profit of 200 pips. Risk/Reward: 1:3 Potential Duration: 3 to 10 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex 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
NZDUSD | MY PERSPECTIVE FOR THE NEW WEEKThe price moved over 110pips in our direction since my last publication (see link below for reference purposes) as the pair came under renewed bearish pressure last week dropping to an all-time low of 0.65000 since price hits high at 0.67200 at the end of July 2020. Breakdown and retest of my Key zone insinuate a further risk of decline in the coming weeks(s). Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand Observation: i. Breakdown and retest of Key zone nudges price for a further decline. Trading plan: SELL confirmation with a minimum potential profit of 120 pips. Risk/Reward: 1:4 Potential Duration: 2 to 6 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex 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
USDCAD | MY PERSPECTIVE FOR THE NEW WEEKThe price moved over 200pips in our direction since my last publication (see link below for reference purposes) even though the Greenback advanced to a fresh daily high of 1.3235 on Friday but lost its traction amidst "quick sells" ahead of the weekend. The USDCAD failing to settle above resistance level @ 1.32400 insinuates that Buyers lack the momentum to rally price making a decline in the following week a more feasible window to keep finding an opportunity to sell the Dollar. Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand | Trendline Observation: i. Since the price broke down 1.32500 level on the 12th of Aug. 2020, it keeps retesting this level affirming a Bearish bias on this one. Trading plan: SELL confirmation with a minimum potential profit of 150 pips. Risk/Reward: 1:3 Potential Duration: 1 to 4 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex 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
USDRUB short outlook 🦐USDRUB is side ranging between the weekly support (red) and the 0.382 fib level retracement. Market has been inside an uptrending channel for the whole reteracement move. IF the market will manage to break and close below the weekly structure and consequently will break the channel, according with Plancton's strategy we can set a nice short order. ––––– Follow the Shrimp 🦐 Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
Short
by InkyGrip
2
Reliance at a make or break levelNSE:RELIANCE is at a make or break level. It has respected the lower trendline since a long time, but it now faces strong resistance due to sentimental factors as well as rejection of 2200 psychological level. With the AGR dues hearing not being too favourable for Jio and the final verdict expected on August 17th, Monday's trading session should be quite crucial for RIL to keep its flawless uptrend intact. Historically, the stock has given a fakeout fake out before retracing and then hitting a new ATH after a few weeks. Monday me be one of two things: Fake out. Retracement. Continuation of the uptrend (which may later bring up the discussion about fake out vs break out once again). Adding to the uncertainty, the past week has not seen very healthy volumes, especially on the trendline support. While the trend is not bearish yet, I am not confident about entering fresh longs just yet, especially due to news-based factors.
NSE:RELIANCE
by MarketsWithKR
1
EUR/USD is a Short from now! H&S.Hey, I am back with another EUR/USD idea. So yesterday I have successfully shorted EUR/USD, see for yourself ! But I think I had missed the bigger picture.. Why? Let me Explain. So as may know, I was a short term bull on EXY and the EUR/USD pair after it has broke out of Cup and handle pattern. The pattern. But now the 4H time frame has printed a legit Head and Shoulders bearish formation, which usually acts a Trend Changing formation. Technical aspect of the chart If we look at 1 Daily chart , we can see three things. 1. Daily Dojo Candle 2. RSI struggling to find support at key bullish continuation level of 60. 3. MACD Selling wave has started. Looking at current chart in front us, 4H. 1. EMA's 20 and 50 are very near, giving a signal of possible trend change and increased volume! 2. RSI is holding at last neutral level 40, below it's bearish. 3. MACD has given sign of a continuation. And how about DXY, is it in downtrend? Yes, I agree DXY is still for me considered as downtrend Index, but it looks like it's gaining some bull power and showing a potential try to make a trend change. And how are you going to trade this? I am thinking about putting a sell limit somewhere around 1.17190, which would mean a lower low, that automatically brings sell volume , see the Trade on the chart. That's it friends, please, if you enjoyed this Analysis and you would like more, let me know by Agreeing with this Idea, of course only if you agree haha. Cheers and good luck trading! Tibor
Short
by TiborVrbovsky
5
USDCNH | MY PERSPECTIVE FOR THE WEEKSince my last publication on this pair (see link below for reference purposes); price has moved over 500pips in our direction followed by a correction move with the anticipation of a further decline scattered all over the place! As USDCNH risk a further decline in the following week, a retest of my Key level is red flag to watch out for in the following week(s). Tendency: Downtrend ( Bearish ) Structure: Retracement | Trendline | Breakdown | Supply & Demand Observation: i. Breakdown of my Key zone @ 6.98000 followed by a retest of this zone in the following week confirms my Bearish bias on this one. ii. Correction of Breakdown impulse leg appears to culminate at my key zone which is 61.8 retracements. iii. It is also worthy to note how selling pressure has been strong at the corridors of my Bearish Trendline since it's inception in June 2020. Trading plan: SELL confirmation with a minimum potential profit of 600 pips. Risk/Reward: 1:3 Potential Duration: 3 to 7 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex 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
CADCHF | MY PERSPECTIVE FOR THE WEEKDespite the Bullish run (Corrective move) from late July 2020; The anticipation of negative numbers and economical dent from Unemployment rate and Net Change in employment was not a convincing yard for a continuing rally. Price broke out of my Key level in the beginning of the week only to Break down and close below this level in the latter part of the week inciting a much good reason for Buyers to step aside for a better deal in the following week(s). Tendency: Downtrend ( Bearish ) Structure: Retracement | Trendline | Breakdown Observation: i. The fall of price that began mid-July appears to continue its second phase of decline after completing a correction into 61.8 retracements of impulse leg. ii. Breakdown of my Key level @ 0.68300 is enough signal for me to consider Bearish bias this coming week. Trading plan: SELL confirmation with a minimum potential profit of 120 pips. Risk/Reward: 1:2.5 Potential Duration: 3 to 10 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex 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
NZDUSD | MY PERSPECTIVE FOR THE WEEKThe NZD/USD pair is struggling to make a decisive move in either direction amid a lack of significant fundamental drivers in the latter part of the week. I am keeping a tab on a possible driver this week as we await Monetary Policy, RBNZD Rate and Interest rate decision on Wednesday for a possible headway. The NZD/USD pair closed the third straight day in the positive territory on Thursday but failed to preserve its bullish momentum on Friday which is a signal of a strong move coming in the following week(s). With over 80pips in our direction (see link below for reference purpose) before experiencing a decline later in the week; insinuates a weakness of Buyers to push the price to complete Harmonic expectations (AB =CD) hereby making 0.66000level my Key level again for this week as I shall be looking at price reaction at this juncture in the market. Tendency: Downtrend ( Bearish ) Structure: Channel | Trendline | Breakdown Observation: i. A Breakdown (0.66375) and Re-test of Current Bullish Trendline (0.66900) on 4H gives a clue in the direction of a shift at the moment that drives towards a Bearish bias. ii. I was expecting the price to make a Harmonic move (AB = CD) last week but unfortunately, it didn't as the 0.66900 level appears to be a level packed with Selling Pressure driving price further down. iii. A significant Breakdown of my Key level in the following week(s) shall be a Bearish signal for me as I will be anticipating a hit of my Daily Trendline (seen on the chart) which also coincides with the nearest major Support @ 0.64000 (a psychological level). iv. It is worthy to note that the economic news coming up mid-week shall be a significant driver in the direction of market participants in the following week(s). Trading plan: SELL confirmation with a minimum potential profit of 250 pips. Risk/Reward: 1:3 Potential Duration: 5 to 10 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex 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
1