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Mformation

AUDUSD ANALYSIS I hope this should enlighten you more to know that we are now going to be printing some downtrends in currency AUDUSD, there was counter trendline analysis I made there and that should also help after completing the “M” formation we should see a little move to the upside and continue the downtrend, I’ll be glad seeing AUDUSD in $0.65-$0.60 levels As you can see my OB a lot of buyer are placing their order at that price ranges. Correct me if I’m wrong, Thank you!
Short
by w4jufx
4
GBPUSD 1.41372 - 0.27 % SHORT IDEA * INTRADAY - EXECUTIONHELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE IN THE MARKET THIS WEEK, HERE'S A LOOK AT THE THE POUND / DOLLAR FROM THE HOURLY CHART. * On higher time frames the pair is strongly bullish from the MONTHLY & WEEKLY. > On lower time- frames the pair is currently correcting in a possible bull flag we saw the completion of a ( M ) FORMATION possible going down for a retst of the flag structure. the trade is currently triggered looking for continuation to the base of structure.\ IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE SMASH THAT LIKE BUTTON & LEAVE A COMMENT. ALWAYS APPRECIATED _________________________________________________________________________________________________________________________ * Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. __________________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - INTRA-DAY TRADE
Short
by PULEMokhothu
EUR/NZD UPDATE .Good day Traders !! On this multi-timeframe analysis we will make a full breakdown of this pair. Monthly : We have just Completed an "M" formation We expect the price to hit the neckline at 1.73800 in the long term if we reject the current area of support we are currently sitting at . Weekly : We have an ABC corrective sequence waves and we might be ready for the next impulse very soon. Daily : We just completed a "W" formation pattern and we just rejected the price to the upside which may indicate a bullish move soon . COT : Institution have been Increasing net positions in EUR since they added more than 4000 long positions and closed to 800 Short position during the last report. From an NZD perspective we are still looking at a Steady NZD while EUR is gaining in strength which may explain our vision of a bullish EUR. 8H: On this timeframe we do have a bullish environment and the price is creating HH and HLs and we do expect a continuation to the upside on the long and short term. MACD: Bullish environment EMA's Cut for long We do have two long setups for this pair , one in the mid-short term and one in the long term. Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset. Trade safe !!!
Long
by TheDayzen
GBP/NZD ready for the fall.Good Day traders !! For this pair we are at the 5 impulsive wave to the downside. WE also have a very strong level of resistance in confluence with the 0.5 Fib level which makes it even stronger and hard to break. Also on the daylight timeframe we have a formation of an "M" formation and we would like to see the pattern completed before seeing any kind of bullish move for the British pound. From a COT perspective we are seeing the GBP bearish since we went from a 13705 net position to about 8000 net position and this is because of the massive number of short position that has been added from last week. We have an extremely good RR on this pair and it"s ready to start it's move. Now if you enjoyed this analysis like and share. If you have a different opinion don't hesitate to comment as I would love to have more insights. Trade safe !!!
Short
by TheDayzen
4
How to Identify & Trade Double Tops and Double Bottoms in 2021Hello Traders, Here is some of my Favorite and Most simple Educational Chart Patterns that you should know in 2021. In this Lesson I will Show you how to Identify & Trade These Patterns! These patterns are seen daily in Stocks, Forex and different markets across the Globe. I hope you will find this information educational & informative . Your support is appreciated with a like & Comment Lets dive Right Into it!! What Is Double Top and Bottom? Double top and bottom patterns are chart patterns that occur when the underlying market moves in a similar pattern to the letter "W" (double bottom) or "M" (double top). Double top and bottom analysis is used in technical analysis to explain movements in the Market, and can be used as part of a trading strategy to exploit recurring patterns. KEY TAKEAWAYS A double top has an 'M' shape and indicates a bearish reversal in trend. A double bottom has a 'W' shape and is a signal for a bullish price movement . Understanding Double Tops and Bottoms Double top and bottom patterns typically evolve over a longer period of time, and do not always present an ideal visual of a pattern because the shifts in prices don't necessarily resemble a clear "M" or "W". When reviewing the chart pattern, it is important for traders to note that the peaks and troughs do not have to reach the same points in order for the "M" or "W" pattern to appear. Double top and bottom patterns are formed from consecutive rounding tops and bottoms. These patterns are often used in conjunction with other indicators since rounding patterns in general can easily lead to fakeouts or mistaking reversal trends. Double Top Pattern (M Formation) A double top pattern is formed from two consecutive rounding tops. Rounding tops can often be an indicator for a bearish reversal as they often occur after an extended bullish rally. Double tops will have similar inferences. If a double top occurs, the second rounded top will usually be slightly below the first rounded tops peak indicating resistance and exhaustion. Double tops can be rare occurrences with their formation often indicating that investors are seeking to obtain final profits from a bullish trend. Double tops often lead to a bearish reversal in which traders can profit from selling at the neckline (with confirmation) to form a downtrend. Double Bottom Pattern Double bottom patterns are essentially the opposite of double top patterns. Results from this pattern have the opposite inferences. A double bottom is formed following a single rounding bottom pattern which can also be the first sign of a potential reversal. Rounding bottom patterns will typically occur at the end of an extended bearish trend. The double bottom formation constructed from two consecutive rounding bottoms can also infer that traders are following the Market to capitalize on its last push lower toward a support level. A double bottom will typically indicate a bullish reversal which provides an opportunity for Traders to obtain profits from a bullish rally. After a double bottom, common trading strategies include long positions that will profit from a rising Market price. Limitations of Double Tops and Bottoms Double top and bottom formations are highly effective when identified correctly. However, they can be extremely detrimental when they are interpreted incorrectly. Therefore, one must be extremely careful and patient before jumping to conclusions. For example, there is a significant difference between a double top and one that has failed. A real double top is an extremely bearish technical pattern which can lead to an extremely sharp decline in the market. However, it is essential to be patient and identify the critical support level to confirm a double top's identity. Basing a double top solely on the formation of two consecutive peaks could lead to a false reading and cause an early exit from a position. How to Trade these Patterns Correctly using the information i have given above 1. Identify The Double Top or Double Bottom 2. Wait for the market to break the previous support or previous resistance to confirm this pattern " M or W" ( as show in my chart above) 3. Be Patient & wait for the market to come back to the "Neckline" (Previous support or Previous Resistance) (as shown in the chart above) 4. When the market will reach the "Neckline area aka support/resistance" monitor the "PRICE ACTION" (in the notes on chart) 5. Monitor the PRICE ACTION for a "Change" in the Market Environment "example" ----- (HL/HH,LH/LL). 6. It is Important to monitor the "Price Action" in the neckline area for some confirmation ( Break of structure or Candlestick confirmation) 7. Always wait for proper confirmation ( at least 2-3 different types of confirmation before Entry) 8. Always Use risk Management & Practise Safe trading. 9. Patience is always the Key to Success! 10. Enjoy The profit when you finally get to ride these Patterns :) Thanks for Reading this article, I hope that it was informative and educational As always, If you have any questions / Comment or Concern Please feel free to leave them below. Hope to see you in the next Educational Post! Global Fx Education
TVC:DXYEducation
by Global_Fx
23
GBP/CAD 1.73200 Good Day Traders !! On the Monthly timeframe we have An M formation on the way, we are in the last leg and expect the price to drop. Going down to the weekly we have a "W" formation and we expect the price to drop to the neckline at least before a continuation to the upside. Going down on the daily We have completed an "M" formation pattern and we just rejected the neckline which support our bearish idea in the near future. From an institutional perspective we can see a massive drop on Net positions on GBP and a big amount of long position added on the Cad according to the last report. Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset. Trade safe !!!
Short
by TheDayzen
NASDAQ TO COMPLETE THE PATTERN ON THE DAILY TIMEFRAME ? ON the Daily timeframe we have an M formation and we would like to see the price to retest the neckline before the continuation to the downside. Also On the monthly timeframe we can obviously see an overextended W formation which neckline aligns perfectly with the demand zone highlighted on the Chart. We want to catch that impulse to the downside with a good R/R if the pattern is ready to be completed. If you enjoyed this analysis smash that like button and share. In the event you have a different opinion please d'int hesitate to comment below as we would like to get more insights on this index.
UShort
by TheDayzen
1
Dow Jones to Crash ? US30 we have a nice clean M formation on the daily timeframe , we broke below support and the uptrend line with a bearish impulse, after a impulse we would like to see a correction before the continuation to the downside, we want to reach the neckline of the M formation, if we get the retracement to the neckline, then we will be looking for the continuation to the downside for a nice short swing setup. We can be potentially looking for a 1/4 RR if the prices rises to the neckline and provide to us one overvalid entry to get in that trade. If you enjoyed this idea smash that like button and share. Don't hesitate to comment below if you have a different opinion as I would love to have more insights on this index. Thanks and have an amazing trading week.
UShort
by TheDayzen
4