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AUDUSD - Candlestick Analysis Not my favorite opportunity of the week but one that could be sneaky good because of the associated risk to reward ratio. The AUDUSD has been bouncing back and fourth in a period of consolidation for a while now with the most recent move being a retracement into a high volume level. We end last week with a very positive candlestick combination for the bears offering a potential short opportunity on the open. If you have any questions or comments about the idea, or if you just want to share your own views, please leave it in the comment section below. Akil
Short
by Akil_Stokes
MSTR Evening Star Poses Whipsaw Risk"Evening stars" are not as reliable as they used to be. They occur after heavy speculation and a steep angle of ascent. A few days ahead of earnings, NASDAQ:MSTR could not break through the resistance above. The Gap up was HFT driven. This stock has a lot of retail interest at the moment, with every eye on AI. But the selloff from last quarter's reporting season is creating resistance on the daily scales. It is a very pricey stock for this market condition and the emotional state of most investors. MSTR is likely to gap on earnings news as there are leaks out that it is going to be a blockbuster earnings report.
NASDAQ:MSTR
by MarthaStokesCMT-TechniTrader
(XAUUSD) Short Sell Gold After nearly hitting the low for the year, price made a bearish reversal and gapped up from the 1835 area. In October it peaked at the ceiling level and is most likely to decrease until December then after. *I am not a financial advisor, and the information provided here is for informational purposes only. Any financial decisions you make should be based on your individual financial situation and goals. It is important to consult with a qualified financial advisor or professional who can provide you with personalized advice tailored to your specific circumstances. Additionally, please be aware that financial laws and regulations may change over time, so always ensure you are up to date with the latest information and consult with a professional before making any significant financial decisions.*
FXOPEN:XAUUSDShort
by JoeCrypto313
3
#OIL buying opportunityConsidering the recent bullish momentum in the oil market, characterized by a clear market structure of establishing higher highs and higher lows while respecting to a short-term bullish channel, we anticipate that oil prices will rise from their current low, as depicted on the chart. In addition to the bullish channel, there are other bullish indicators on the chart. Notably, the 1-hour 200EMA (Exponential Moving Average) has consistently provided strong support during this recent bullish phase. Every time the price has approached this EMA, it has turned upwards. Furthermore, the current price level is situated within a 4-hour demand area, which further enhances the possibility of a bullish movement. If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
CAPITALCOM:OIL_CRUDELong
by mohemati
1
#AUDNZD selling opportunity Hello, dear traders and colleagues. I wish you all a successful trading week. Let's examine the AUDNZD chart to identify a potential selling opportunity. As you can observe, the price is currently testing the upper boundary of a bearish channel, which has been acting as a resistance following an extended rally. Recent price movements in the past two days show signs of exhaustion, further increasing the likelihood of a bearish move. Additionally, by examining the daily candlestick, you'll notice that we've experienced upside rejections in the last two days, indicating the presence of selling pressure. To initiate a sell position on this pair, we would prefer to witness another upward movement, aimed at clearing liquidity from above the horizontal arrow we've marked on the chart. Subsequently, we'll look for a break below the short-term bullish trendline that has kept the price elevated during the recent bullish movement.
Short
by mohemati
7
#GBPCAD selling opportunityHello, traders and friends. Let's analyze the GBPCAD chart, where we believe there might be a compelling selling opportunity. In the Daily timeframe, you can see that the price has already broken the market structure to the downside. Since the low formed on September 28th, we've been in what we believe is a bullish corrective phase. Consequently, we are now interested in a selling position. Switching to the 4-hour timeframe, we notice a double top formation that resulted in a lower low, indicating the possibility of bearish continuation, aligning with our higher time frame daily trend. Following this, the price has been moving upwards in a bullish corrective manner, forming a short-term rising channel. Last week, this channel also broke to the downside. In our view, this recent bullish movement resembles a liquidity-taking activity, and we are keen to observe any rejections from the level marked by the arrow on the chart, with the intent to consider selling. Additionally, we have identified several resistance factors within a small zone, including the 4-hour and daily timeframe 200EMA, a supply area in the 4-hour timeframe, and the previous high where many traders have placed their stop-loss orders just above it. This presents an opportunity for banks to potentially extract liquidity. If you have found this analysis helpful, please take a moment to leave a like and a comment or share your idea with me.
Short
by mohemati
5
#Nikkei buying opportunitHello, traders and friends. I hope you all doing well. Let's delve into NIKKEI chart and explore why we believe there may be a potential Buying opportunity. The three-wave bearish corrective nature of this downward leg, following a bullish impulsive wave we observed on the chart, suggests the possibility of another bullish move, potentially testing at least the upper boundary of our longer-term bearish trendline channel. Supportive confluences that we have observed include the inner trendline, which has acted as both resistance and support multiple times, indicating traders' awareness of its significance. Additionally, the price has reached a static support line and a demand area from above, both of which serve as important support levels. Furthermore, the price retraced around 50% of the Fibonacci level of the last bullish move. Additionally, we've observed the formation of a 4-hour bullish engulfing candle, which can be seen as a trigger for this potential buying setup. If you have found this analysis helpful, please take a moment to leave a like and a comment or share your idea with me.
SPREADEX:NIKKEILong
by mohemati
1
#EURGBP buying opportunityHello, traders. Let's examine the EURGBP chart, where the price is currently completing a pullback to the broken short-term bearish trendline after a change in market structure towards the upside. This provides us with an opportunity to position ourselves in alignment with the higher time frame. When you review the Daily timeframe, you'll notice a bullish impulsive move that has occurred. Since reaching the recent high, we've been experiencing a bearish corrective move until yesterday. The price reached a critical support area and formed a bullish engulfing candle, which closed above the high of the previous doji candle. This suggests that the bearish momentum may be coming to an end. Following the formation of the daily bullish engulfing candle, on the 4-hour timeframe, we observed a downward move. The price retraced to approximately 50% of the previous day's candle and approached the 200 EMA. These factors provide significant confluence for considering a buy position from this area. Furthermore, the price is currently testing the daily pivot area. Since the price opened above the pivot and is now testing it from above, this indicates that the price may continue its bullish momentum.
Long
by mohemati
3
Hammer of Trend ChangeThe Hammer and Inverted Hammer candlestick patterns, two powerful tools adept traders employ for reversals. If you appreciate our charts, give us a quick 💜💜 Here’s what you need to know: 1. Understanding the Essence: Hammer: This pattern typically emerges at the culmination of a downtrend, indicating a potential bullish surge. Its small body and extended lower wick signify the bears' struggle to maintain lower prices. Inverted Hammer: Contrarily, this pattern usually appears at the end of an uptrend, foreshadowing a possible bearish move down. Its small body and prolonged upper shadow denote the weakening grip of the bulls. 2. Decoding the Signals: While Hammers don’t provide direct trading signals, they suggest a shift in momentum. Traders often see them as a sign of potential upward movement after a downtrend. Inverted Hammers, appearing after an uptrend, hint at a potential reversal. The failed attempt by the bulls to sustain higher prices signifies a looming bearish sentiment. 3. Crafting Your Strategy: When dealing with Hammers, traders might enter immediately after its formation or wait for confirmation with a bullish candle. Setting a stop-loss just below the recent low and targeting a significant resistance level is a common strategy. For Inverted Hammers, a similar approach can be employed, focusing on prior support-turned-resistance levels. Vigilance and additional technical analysis are crucial for accurate predictions. 4. A Word of Caution: While these patterns are robust, they should never be sole trading indicators. Combining them with other technical tools enhances accuracy and confidence in your trades. 5. Practice and Precision: Prior to real trades, practice these strategies on demo accounts or paper trading. Platforms like TradingView, Vestinda and others like MetaTrader offer a conducive environment for refining your skills. Incorporating Hammer and Inverted Hammer patterns into your trading toolkit empowers you to detect potential trend shifts. Remember, in trading, nuanced insights can translate into significant profits. Happy trading!
Education
by Vestinda
5
Dr copper potential more downside moveHello traders, lets take a look at copper which testing an important resistance area and see what can possibly happen and what are the consequences of possible bearish move in other markets like us equities. first lets talk technical, price overall bearish Daily move in copper formed a standard #head_and_shoulder pattern in form of consolidation in downtrend move and as we know this chart pattern in the middle of a move showing continuation. As it can be seen price formed clear H&S pattern and now forming possible LH at key resistance area below Daily EMA and at the 4H timeframe 200 EMA. more importantly price failed to close above 3.80$ in the past 3 days. Also we know that copper as one of the most important commodities is very sensitive on economic data, and since central banks are in raising interest rate campaign in order to take control inflation this can be interpreted as lower economic growth and as a result les demand for industrial commodities like copper which can bring prices lower. so now obvious chart pattern and a valid downtrend, price testing important resistance area and failed to break above it and more importantly we have fundamental aspect inline with technical analysis which all together gives good odd to find a trigger to short.
CAPITALCOM:COPPERShort
by mohemati
#OIL selling opportunityHi dear traders and colleagues, lets look at oil and see if there is any selling opportunity in this commodity or not. As you can see on the chart we have done a research and find out that any time when stochastic indicator is in overbought in Weekly timeframe and cross below cross below its signal line we have seen a bearish move by the price. Other things that gives us more confluences to take this trade is the fact that price currently is testing resistance area and also close to tentative bearish trendline. from fundamentally perspective also we know although we shortage supply by the side of suppliers especially from Saudi Arabia but the fact that we are close to the end of hiking cycle by the central banks and as a result we can see some damages in economic which cause lower demand for the oil. These are all showing that at least having a bearish correction move in Oil prices is possible and even if price wants to go higher we can have correction from this area.
CAPITALCOM:OIL_CRUDEShort
by mohemati
This is the kind of Trading Setup that I go Aggressive!The Bullish Shark Pattern is yet to be confirmed, but it went lower than PRZ, which is seen as a warning sign for most. However, I see it as an opportunity that I don't want to miss out on. Here are some key points that I wanted to highlight: - The Terminal Bar produced a long shadow that provided Cover Support, which means that the level is not broken. - On the 1-hourly chart, we can see RSI divergence. - There's a sideway bounce setup on the 4-hourly chart, which can be attributed to a combo trade. As you know, I'm a nurtured conservative trader, but once I see an opportunity like this, I turn into an aggressive trader. So, I'm quite excited about this. What's your take on this?
Long
by RaynLim
Awaiting Shorting OpportunityThis week, I have been closely monitoring the movement on GBPUSD. While there are similarities to EURUSD, I am still waiting for an aggressive shorting opportunity. As of now, there is no iconic trading setup available, so I am patiently waiting for a retest at the key resistance level of 1.2368 before making any moves. For more conservative traders, it may be wise to wait for a double top with an RSI divergence as an additional confirmation before engaging in the trade. The initial stop is at 1.2462 (-94 pips) or 940 USD/lot, while the first target is seen at 1.2124 or 2,440 USD/lot. I cannot stress enough the importance of planning your trade and not blindly following anyone else. Keep this in mind when considering your options.
Short
by RaynLim
What is Tweezer Top and Bottom Patterns?Welcome to the world of trading patterns. If you appreciate our charts, give us a quick 💜💜 Today let's explore Tweezer top and bottom patterns, often referred to as simply "tweezers," are powerful candlestick formations that hold the potential to unveil significant shifts in market sentiment. These patterns materialize as twin candles appearing at the culmination of a trend, indicating the impending transition of market dynamics. In this exploration, we'll delve into the intricacies of these patterns, unveiling their secrets for traders seeking to navigate the ever-evolving landscape of financial markets. Tweezer Top: A tweezer top pattern occurs during an uptrend when the price reaches a high point and then experiences a sudden reversal. It is characterized by two consecutive candlesticks with almost identical highs. The pattern suggests that the bulls are losing their grip, and a potential trend reversal or a bearish correction might follow. Traders often interpret the tweezer top as a signal to consider selling or shorting an asset, especially if it appears after a prolonged uptrend. However, it's essential to confirm this pattern with other technical indicators or chart patterns to increase its reliability. Tweezer Bottom: Conversely, a tweezer bottom pattern emerges in a downtrend when the price reaches a low point and then reverses its direction. Similar to the tweezer top, tweezer bottoms consist of two consecutive candlesticks with nearly identical lows. This pattern signifies a potential end to the bearish trend, indicating that the bulls might take control soon. Traders view the tweezer bottom as a signal to consider buying or going long on an asset, particularly if it appears after an extended downtrend. As with any trading pattern, it's crucial to validate the tweezer bottom with other technical tools to confirm the potential trend reversal. Key Considerations: Confirmation is Key: Tweezer patterns, while useful, should always be confirmed by other technical indicators or chart patterns before making trading decisions. Volume Analysis: Analyzing trading volumes during the formation of tweezer patterns can provide additional confirmation of the potential trend reversal. Market Context: Consider the overall market context and fundamental factors influencing the asset to make well-informed trading decisions.
Education
by Vestinda
2
Short NASDAQ once more!I wanted to share my thoughts on the latest shorting opportunity I've spotted on Nasdaq. It appears to be a Bearish Shark Pattern, with some unique differences from the previous ones we've seen. Firstly, there is an additional entry price for the very same Bearish Shark Pattern. This makes it even more appealing to consider shorting. Secondly, the completion of this pattern is happening on the 1hourly chart, which means the movement could be more volatile. In light of this, I have set my initial stop-loss to a further level at 14927.90 as I am aiming for a bigger target. I would love to hear your thoughts on this development. Do you think this is a good opportunity for us to short Nasdaq once more? Please feel free to share your thoughts in the comments section. Follow my only account @raynlim
SKILLING:US100Short
by RaynLim
7