Quantafuel : Hanging man posted at previous failure levelQuantafuel - Intraday - We look to Sell at 32.10 (stop at 34.50)
The hanging man candle on the daily chart is negative for sentiment. Price action has continued to trend strongly higher and has stalled at the previous resistance near 33.04. The overnight rally has been sold into and there is scope for further bearish pressure going into this morning. We look for a temporary move lower. The upward trending support line should provide the ideal target and fade level as medium term bulls build positions into the current weakness.
Our profit targets will be 24.90 and 22.85
Resistance: 33.04 / 34.32 / 36.40
Support: 26.50 / 24.90 / 22.85
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Failuretest
End of Weekly Bear Flag for EOS? Failure Test This is not a picture perfect failure test trade but the 0.65 fib, potential double top and potential top of a weekly bearish flag here packs an extra punch for this trade offering a great reward beyond the first target.
BTCUSD 4H BULLISH BREAKOUT OR BEARISH FAILUREBTCUSD 4H is in a range
Price at top of range
Range top @ 7156.6
Long Trade
Watch for a Bullish breakout
Entry long on 15m chart with a break-hook-go pattern
Previous high @ 8287 will be Take Profit area
Short Trade
Range top breakout failed
Price fell back into range
Range bottom @ 6009.6
Range bottom will be Take Profit area
Our pulse system is bullish so all we do now is wait for bullish breakout or bearish failure confirmation
This is our Strike Trader Elite Trading Strategy available on Tradingview now.
Any questions for us please PM us.
Failure Test Below $66USOIL bears couldn't hold below key support level around previous high of $66.66. Failure test is pretty much evident at this point but there's still a shimmering light of hope for bears. Oil bulls have already taken back 61.8% of the correction range, if supply fails to turn the tides around here, bears' stop buy orders will add on to the upward extension and the move could go parabolic.
EURUSD [Daily, Long] False Break/Failure TestMarket has been in a range from the 1.163 level to 1.207 level. Price action towards support at 1.163 is clean. Price took out the previous candle structure low on 7 Nov 2017. There was strong price rejection following this. Sellers who short the break of the support are now trapped, many would sell off their position when price goes to breakeven, fuelling the buying pressure.
Entry: Market order of 1.16373
Stop: I placed a more aggressive stop loss just a few wicks below the candle structure, referenced on the 4hr timeframe as that is where my trade would be invalidated. Also to trade with a larger position to fulfil a 1:2 risk reward ratio.
TP: 1.19 as I foresee price rejection at this region due to resistance.
Nice pullback setup in CHRSSwingtrade based on trend-momentum and convincing price rejection a few days ago.
EURUSD Failure Test LongEURUSD has been declining since 18 April.
Currently resting at potential support at 1912
240m chart is showing a Failure Test pattern with profit target at 2016 and stop below 1910
Will have to see the week's open
