A Reversal Trend!The candlestick indicates a trend change in the price of the stock due to buying interest backed by significant volume compared with the previous trading.
The 0.475 is the price Point of Control with fresh buying interest that has emerged and is set to lift the stock higher.
MACD and OBV also indicate a divergence signal. Hence, align with the candlestick trend change of the price to the next price resistance.
The MA50 line will be the next price resistance and is worth watching out for.
Let's save PEKAT in WL and watch out for the price closed above the MA50 line backed by significant volume.
R 0.490
S 0.450
Candlestickpattern
Gold pushes up again! Take a look at how Gold pushed up!
What did Gold do during Asian and London session?
The yellow line is the daily close yesterday.
You can see how price touched it three times.
Just after the second touch, we have an Evening Star made. The following candle is bearish engulfing. Price has moved down.
The third touch on the line is a bit of a fake out. The bulls tried but failed and were pulled crashing back down.
At the bottom here, We have an inverted hammer followed by a bullish engulfing. This is looking very bullish now.
The Bulls officially took over once they were able to close above the daily (yellow line).
Price wicked up, and closed back below. The following candle was a bit of indecision as it is a spinning top wick about equal sized wicks.
However, this spinning top comes after the close above and slight pullback. Still looks bullish which is confirmed by the following three candles creating Three White Soldiers.
GBP/JPY LONG SET-UPGBP/JPY Buy Set up
Technical breakdown on GBPJPY
GJ is in a very bullish condition, however, I understand that the pair is also trading at a strong level of resistance
Saying that, GJ has the potential to break past resistance, and this could be the trade we need to make it happen
GJ has broken 15m resistance but hasn't come back to retest, this key area also lines up with a strong psychological level (165.000) as well as the 61.8 FIB level
I will be looking to take this buy as long as we see and a bearish candlestick formation, this can be wick rejections or a depletion of selling pressure
BUT
This area of resistance has a chance of holding so if price does break through 165 and retests this zone showing bearish pressure, I'll be looking to sell this pair down to 163.500 or 162.500
EUR/USD Technical BreakdownEURO / DOLLAR; Technical Breakdown (Long)
So, as you can see we've had a depletion at 0.98800 where price failed to break the lows and printed a clear inverted head & shoulders
After the third bounce of the trendline, I was expecting price to break through, indicating price is reversing
We have clear / well respected support / resistance zones marked out, indicating where price is likely to go after breaking bearish market structure
Now, for me personally, I'd like to see price come back to the golden zone between the 61.8 & 78.6 fib levels to give the best / highest probability set up whilst maximising our reward to risk
You may have noticed these fib levels also line up with the trendline, a strong area of support (0.99250) as well as the neck line of the inverted head & shoulders
However,
This set-up isn't guaranteed, but, if price does come back to this zone, I will be looking to take buys as soon as we have 3 rejection candles on the 5m or 15m timeframe
We may even have a rejection of the 0.99750 level which price has previously respected as support, but again, in my eyes, the best set up which we as traders should all wait for is the highest probability set ups which to me is the deeper pullback to that 0.99250 level.
Hope you enjoyed that technical breakdown on EU. Let me know what you guys think about this pair.
How did Gold move up 157 pips up?How did Gold move 157 pips UP in 6 hours?
The yellow box is an exhaustion area. It can be seen previously on September 1'st.
The shape that is made here I've seen move up a lot.
The yellow line at the bottom is what I'm looking for to enter. I want to see a push above that in order to enter a buy.
At the bottom, we can see a long lower wick showing the bulls pushed price back up. Next is a bullish engulfing. The next candle is the candle to enter on because it breaks above the yellow line (an S&R as shown as the close of previous candles).
Finally, we see a trend line that was respected, broken above, touched twice, then price move away from it.
USDCAD - Bearish SharkA Bearish Shark setup has its retest. But is this it, or not? Shark Pattern can have up to 3 entry zone, test 3! So it's best to wait for candlestick confirmation to engage the trade and ever over trade.
NZDUSD - Bullish SharkThat is why the Shark Pattern and the Crab Pattern is the toughest harmonic pattern to trade. And that is also why we must ensure that our students are well-versed with Harmonic Patterns and have profited from other Harmonic Patterns before we teach these bad boys.
We are back into the waiting phase; I'm waiting for a 3-bar reversal pattern to engage the trade.
A new low on EURUSD Yesterday we saw a new low on EURUSD after price rejected the 0,9976-0,9996 zone.
While the downside move is still active, we will continue selling. The next target remains at 0,9800.
Tomorrow we have ECB Interest Rates decision.
Until then the move will probably slow down and there won't be that many new positions being opened.
We will expect bigger moves during and after the news.
A Bitcoin Simple Symmetrical AnalysisPiece together the simple aspect of symmetry and math. This decline on the 5 day (and weekly) proves to showcase a coincidental mathematical drop from Nov 2021. If this does play out our BTC bottom should be the 28th Oct 2022.
Note:
- 1st drop for Nov 2021 15 bars
- 2nd drop from April 2022 15 bars
- 1st up 13 bars
- 2nd up 13 bars
- Gaps from high to high both 28 bars
- 100% Fib-Based Ext. correlates to a ending range.
- Total avg -85% drop for cycle ATH 84.55% matches overall down bar calculations ending at a 50% retracement to the last parallel channel.
Note: I am publishing this idea based on discovery evidence found in the candle stick and observing the aspect in relation to the mathematical symmetrical patterns and how it correlates with Fib Levels, parallel channels. Nothing has to follow and a curve ball could be thrown however, for a 9 month reoccurring pattern is something not to ignore.
It's time to sell EURUSD After forming a new low, EURUSD has now started a pullback.
The best thing to do is to wait for this pullback to end and then look for entries to the downside.
We should watch out for reversal signals around the levels of 0,9976-0,9996.
If price breaks above 1,0090 then this downside move wouldn't be valid anymore.
A new low on EURUSD On Friday, EURUSD formed a lower high and it's now testing the bottom at 0,9900.
It is very likely that we will see a breakout and price reaching 0,9800.
The ECB Interest Rates are this week which means we should see some moves.
Entries should be made after a pullback or a breakout. We're definitely not looking to buy!
BTC 4H chart update.Simple and price action!
chart is so obvious that does not need anymore comments.just be careful when adjusting stoploss!
good luck all!
CADJPY - Bearish BatCounter-trend traders, this is another trading opportunity, a Bearish Bat Pattern completes on the daily chart.
It will be a busy Monday for traders. Share this with your friends, so they won't sleep through Monday and missing lots of trading opportunity.
What I love about this setup, there are RSI Divergence on the lower timeframe.
NZDUSD - 5-0 PatternCounter-trend traders, this is my favourite setup for the week, a 5-0 Pattern on the 1hourly chart. I will be waiting for the 3-bar reversal to engage the trade and as an experience trader, this trade will give me an opportunity to have lower risk with higher returns.
USDJPY-Weekly Market Analysis-Sep22,Wk2If you remember the analysis that I made, you would remember that I said that the Bearish Bat on the Daily Chart won't be fulfiled. Real trading means, sometimes after weeks of waiting, there is no trading opportunity, and that is ok. I always said, it is better not to engaged a trade that doesn't seems to work out rather than regrets after engaging those trade that you know you shouldn't have.
Trend traders can wait for the retest within the buy zone(blue box) and wait for a 3-bar reversal before engaging on the trend trading setup.
GBPUSD-Weekly Market Analysis-Sep22,Wk2Aggressive Counter-Trend Traders, you might have an opportunity to engage GBPUSD on a buying opportunity.
Why is that an aggressive move?
That's because there is no structure or support looking left.
At the minimum, wait for a 3-bar reversal before engaging in the trade. Your first potential profit taking level will be at 1.1576.
Gold looks prime for BIG September Historical data of gold shows that September has always been a very significant gain month for this particular commodity. Using this we can create some confluence and frame what is going on right now.
From just a raw price action standpoint gold looks to have created a local bottom, with a nice double bottom formation, having the 2nd low being higher than the first. On the daily we have two candles around the support forming a BELT HOLD candlestick pattern, that would be confirmed by a third, engulfing candle stick.
Assuming this level holds we could see some major upswings, as gold retests the daily fibos of its current lower move.
DOLLAR STRENGTH, could potentially impact any gold gains however with the risk off environment being so strong and everyone looking forward to the impending recession of the US economy, its not difficult to form a hypothesis that includes both the USDX hitting new highs and gold returning to new highs as well.
This analysis is for a BUY SWING, that would involve a pretty substantial Stop loss of at least 250 pips if entering the trade now, however with GOLD, upswings can come very rapidly. This creates the potential for an 1800+ pip retracement, so this pair is sure to reward any PATIENT traders this month, if these current levels hold.
I dont use RSI, MACD, or other technical indicators when considering my analysis.
EURUSD before NFP Yesterday this pair broke below 0,9980 confirming the downside move.
Today is the first Friday of the month and we have NFP coming out.
There will be volatility during the news and we could see further confirmation to the downside.
The levels below the parity will act as resistance and we will expect that price should reject them and eventually form a new low.
Once we break below 0,9900 we should see 0,9800 next!
Stops should be above 1,0090 in case of price rejecting the mentioned levels.
A new sell zone on EURUSD Yesterday EURUSD tried to continue falling down but instead of that we saw some strength in the pair and price moved up to 1,0065.
That's why we won't sell until the market breaks below a previous low or it reaches our new sell zone.
The new zone is above the 1,0090 high and in case of price visiting that area, we will look for another rejection.
Today we should wait for another sell signal.
We are definitely not looking to buy!
It's time for the next drop on EURUSD There was a weak rejection at 1,0050 but we haven't yet seen the move down towards 0,9900.
This is what we expect to see today but mind that price can re-test 1,0050 again.
A move below 0,9980 will confirm the next drop on EURUSD.
There are also better trading opportunities with other USD pairs, however we should see this scenario developing here as well.
EURUSD sells There was a pullback after the initial downside move on EURUSD and today, we will look to sell.
The best entry opportunity would be a rejection of the 1,0050 level.
Stops should be placed above 1,0100 and the target remains 0,9800!
Entries only after confirmation from the candlesticks!
Trend Continuation- bearish channel
- bearish pin bar candle
- under 200 ema
exit:
1.43100
enter:
1.4500
stop:
above pin bar candle
risk/reward :
~3x
The next target on EURUSD - 0,9800On Friday we had a reaction of the sell zone and an impulsive move to the downside.
The next target will be below the previous low- 0,9800.
Everyone who is currently in a short trade can move stops and expect this pair to continue lower.
New entries could be made after a pullback that will give us a better risk to reward ratio.
Don't look to buy!
