Get started

Chartpatterntrading

Will the Uptrend Continue or Reverse at 1.0900? Let's Find OutHey traders, Looking at the EURUSD chart, we can see that the market has been in an uptrend short term. However, the market was unable to sustain its momentum above the 1.1100 level, and traders took their profits at this level, causing the market to move downwards. It is possible that the market may continue to move down towards the 1.1000 level, which coincides with the trendline support. At this point, I am not suggesting shorting the market as long as it stays above 1.0900 because we are still trending upwards. If the market tests this level, it could be an opportunity to look for a buy entry. Remember to follow and like this post for more exciting trading insights. Don't hesitate to share your thoughts in the comments section below. 🚀
by TheTradersAvenue
6
NVDA: Powerful Bearish Rejection.• Yesterday, NVDA did what seems to be an Exhaustion Bar, a massive bearish candlestick around a support level, far from its resistance, after the pullback was already materialized; • Today, we see a bullish reaction, and NVDA is bouncing away from its support at 263, and it is breaking the 21 ema as well, trying to reject a very bearish scenario. • The 263 is a very important support level because it is the trigger point of a Double Top chart pattern. By losing this key point, the 244 would be our next stop, and NVDA would reverse the bull trend. We already discussed this possibility in my previous NVDA analysis (link below this post); • The trend is still bullish, as NVDA isn’t doing lower highs/lows yet; • In the weekly chart, NVDA has been moving sideways for five weeks now, but it has yet to hit its technical resistance at 289; • In theory, NVDA could correct to the 21 ema in the weekly chart and this wouldn’t ruin the long-term bullish bias; • So far, the situation is under control and NVDA is still above its key support line. I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.
NASDAQ:NVDA
by Nathan_The_Finance_Hydra
5
Bearish Flag on USD/CAD @ D1A bearish flag pattern has formed on the daily USD/CAD chart following a peak and reversal in its previous uptrend. The pole and the flag borders are shown with the yellow lines. The stop-loss level (the red line at 1.35296) is set to the highest point of the flag area. The take-profit level (the green line at 1.31309) is set to the pole's length subtracted from the stop-loss level. I will open this short position only if the currency pair closes significantly below the flag's lower border.
Short
by AndriyMoraru
6
NVDA: A Dangerous Pattern Appears.• NVDA is doing a pullback to its 21 ema, which is a normal movement. The problem is that this correction is occurring after it found a strong resistance at 280; • This could be the beginning of a Double Top chart pattern. In order to trigger this pattern, NVDA would have to lose the 263 support line, which is the previous bottom area; • In this scenario, NVDA would seek the 244, the next support line; • In order to avoid this bearish thesis, it is important to see NVDA doing a bullish reaction, preferably above the 21 ema, and breaking the 280 as soon as possible; • So far, it seems NDA is just doing some range trading between its two key support/resistance lines. I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.
NASDAQ:NVDA
by Nathan_The_Finance_Hydra
2
TSLA: Trading at a Critical Support Line.• TSLA crashed after earnings, but it seems it wants to stabilize around the 163 support line; • So far, TSLA has been moving with technical precision, as we already discussed this bearish scenario in our previous analysis (link below this post, as usual); • Now, in the daily chart, TSLA just hit its technical support at 163. So far, there’s no bullish reaction indicating that it is doing a bottom sign – but this could change very soon; • If TSLA loses the 163, then it’ll probably try to fill the gap at 146 in sequence. • In the weekly chart, the situation is critical, as TSLA is on the verge of triggering a Descending Triangle chart pattern downwards; • What’s more, the last two candlesticks hit the 21 ema as a resistance as well. This reinforces our idea that it could hit 146; • In order to avoid this bearish scenario, TSLA would need to react as soon as possible, and trigger an extremely powerful bullish reversal pattern – so far, there’s no such sign; • I’ll keep you guys updated on this, as usual. I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
6