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Rejection

Down Side Playing Out?After yesterday's candle, downside is looking more probable now. Bulls had a chance to stay above the 20 EMA, but were not successful. At the time of writing, Futures are trading at about 3645ish down 0.82%. Do we visit 3600 today? May 3580? We could dip down to 3570 and recover by EOD to finish back at 3645 or 3600. That would tell me that the market wants to wait for earnings next week before it continues to sell more. The last 4 or 5 Fridays we've had, were all down days. So, will today be different? The Purple line is the Feb. 20th 2020 high right before we had the COVID drop. That is one of my target points that I would anticipate to come by next week. Possibly by the beginning of November. Next week could give us a clearer picture as to what's to come. At the beginning of the month, I thought we were going to come down hard to 3400 fast. But after watching what's been happening the last couple weeks, this is looking more like a slow grind down to 3400. Yesterday I said that we could finish the year at around 3600ish, after our Santa Clause Rally. How? I looked at the monthly chart, and as of now, it's a DOJI. So let's say we finish the month at 3400. That would give us a similar candle like we had in August. Then look how September played out. If we close the month at 3400ish, and volatility continues to creep up, then 2900 is a possibility late November or maybe even beginning of December? That would be more enticing for a Santa Clause Rally come the start of December. Again, I'd need to see the VIX get between 40-50 first before I consider any upside in the market. Be patient, react, trade the market in front of you and stay disciplined. Happy trading everyone!
SP:SPXShort
by MMOTA_
CHFJPY - Over-Bought Zone - Again!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. CHFJPY is overall bullish trading inside the brown channel. Moreover, the zone 150- 155 is a strong supply zone . So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the green supply zone and upper brown trendline. (acting as non-horizontal resistance) As per my trading style: As CHFJPY approaches the purple circle zone again, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Short
by TheSignalyst
7
AUDCAD - Rejection Zones!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. AUDCAD is overall bearish trading inside the brown channel, however, it is now approaching the lower brown trendline acting as a non-horizontal support zone . Moreover, the zone 0.845 - 0.855 is a strong support zone. So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the blue support zone and lower brown trendline. (acting as non-horizontal support) As per my trading style: Since AUDCAD is around the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) If the blue zone is broken downward, then further bearish movement would be expected. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
3
AUDNZD - Trend-Following Setup!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. As per my last analysis, AUDNZD rejected the green resistance from weekly and traded lower. NOW WHAT? AUDNZD is overall bullish trading inside the brown channel , however, it is now approaching the lower brown trendline acting as a non-horizontal support zone . Moreover, the zone red zone is a resistance turned support. So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the red support zone and lower brown trendline. (acting as non-horizontal support) As per my trading style: Since AUDNZD is around the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) If the red zone is broken downward, then further bearish movement would be expected till the blue support 1.10 - 1.105 where we will be looking for new buy setups. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
6
AUDCHF - Rejection Zones!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. AUDCHF is overall bearish trading inside the brown channel, however, it is now approaching the lower brown trendline acting as a non-horizontal support zone . Moreover, the zone 0.615 - 0.62 is a strong support zone . So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the blue support zone and lower brown trendline. (acting as non-horizontal support) As per my trading style: Since AUDCHF is around the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) If the blue zone is broken downward, then further bearish movement would be expected. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
11
GOLD - Daily head and shoulders reversal?! IDEAHey guys just thought id share a possible situation on gold! I'm looking to see if we can create a right shoulder move for a nice push to the upside off and around $1680. Price can either push further down to continue long term down trend or we may see a rejection to create a long term reversal pattern. This is one of my favourite patterns so I've decided to add an example of this pattern to try help you understand the structure. This pattern can be used in multi time frames from the weekly all the way down to 15 min, the higher the time frame the more respect price seems to have! For confirmation I work off candle formations from the key levels! I love to hear feedback to be sure to let me know your thoughts or questions in the comments.
TVC:GOLDLong
by jamison_fx
5
AUDJPY / BUY TRADE SETUP!!Ill be monitoring price around the highlighted zone (91.650) early next week to see how price reacts. We should see a bounce at the least which ill be taking long trades to give myself the opportunity to hopefully see price return to the resistance of 95.700. On the daily you can see we have already had one rejection from this support zone, so a nice morning star formation on the daily would be a good indication to take entry's! As always trade smart risk appropriately!!
Long
by jamison_fx
3
Master this basic skill before anything else to find success. 📚One of the first and most critical skill you must master - How to PROPERLY identify Support/Resistance Levels. Once you learn how to properly identify these levels you can quickly understand what the trend is doing or where price could go next. Follow these basic guidelines: 💎 You need 2 touch points, but 3+ are better. The more touch points, the more powerful the level 💎 Look for price rejection at the same level (resistance) 💎 Look for price being respected and held up at the same level (support) 💎 You can use wicks or bodies but bodies are more powerful 💎 Indicators, Oscillators and Trendlines can all act or be used as S/R 💎 Practice on a Higher Time frame before moving to lower time frames Advanced Techniques: 💎 When S/R lines up with FIBS, becomes much more powerful 💎 Look at Swing Highs (SH) and Swing Lows (SL) 💎 Use Moving Averages to find Support/Resistance 💎 S/R is not always an exact point or number. It can be a zone. 📚 Test your self 1. Open a 3D Chart and find 3 levels of support 2. Find 3 levels of resistance 3. Study what price action did after breaking through or holding either support or resistance 4. Practice on 5 other coins from your watch list. 5. Add the 50MA to your chart. Study how price reacts when it holds support or resistance. Bonus! Can you identify Support/Resistance on an indicator like the RSI? Comment below if you would love to see more skills broken down.
INDEX:BTCUSDEducation
by jlouvierobv
2
CHFJPY - Over-Bought Zone!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. CHFJPY is overall bullish trading inside the brown channel. Moreover, the zone 150- 155 is a strong supply zone . So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the green supply zone and upper brown trendline. (acting as non-horizontal resistance) As per my trading style: As CHFJPY approaches the purple circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Short
by TheSignalyst
7
BTC - Market Structure 101Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. BTC has been overall bearish for a while making lower highs and lower lows. and as mentioned in my previous videos, we knew that the bears were exhausted as the impulse movements were getting smaller in size. Last week, the bulls took over by breaking above the last major high market in red. So now the momentum is shifted from bearish to bullish. Of course this is just from a short-term perspective. As BTC is still overall bearish from a long-term perspective. As per market structure 101, we are now expecting a correction and then we will be looking for buy setups on lower timeframes as a trend-following setup. Our closest rejection, where the bulls might kick in, would be around the previous major high (red zone) As BTC approaches this zone I will be looking of any bullish reversal setups on lower timeframes (like double bottom, trendline and so on...) Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BITSTAMP:BTCUSD
by TheSignalyst
21
NZDJPY - Potential Bearish Reversal!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. on DAILY: Left Chart NZDJPY is approaching a resistance zone so we will be looking for sell setups. Knowing that NZDJPY can still trade higher inside the zone before going down. That's why we don't sell blindly, we always zoom in to lower timeframes and wait for the bears to take over. on H1: Right Chart NZDJPY is forming a head and shoulders pattern but it is not ready to go yet. Trigger => waiting for a momentum candle close below the gray neckline to sell. Meanwhile, until the sell is activated, NZDJPY can still trade higher. Which scenario do you think is more probable and why? Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Short
by TheSignalyst
5
USDJPY - Over-Bought Zone!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. USDJPY is overall bullish trading inside the brown channel. Moreover, the zone 144 - 147 is a strong supply zone. So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the green supply zone and upper brown trendline. (acting as non-horizontal resistance) As per my trading style: As USDJPY approaches the purple circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
33
CSC-HARSI UPdate: Bull Rejection / Bear RejectionWhat's new in this indicator Support and resistance levels have been re-coded to give you a cleaner visualization. as always when you see a support indication you set the support level at the close of the candle. if they cancel this red you place it at the bottom. If the candle is green you place it at the top. You always place the S/R level at the close of the candle. Two other indications added to the script are called, Bull Rejection and Bear Rejection. --Bull rejection shows up when there's a bullish rally and then there's enough resistance to stop that upward move. --Bear rejection is when there's a bearish move and there is enough resistance to stop that downward move. If you get a resistance indication followed by a bullish rejection indication you should exit your trade. Because it's showing you resistance at that level and enough pushing back down. If you get a support indication followed by a bearish rejection you should exit that short trade because it's showing you there is support at that level and enough force pushing to the upside.
Education
by CoffeeshopCrypto
3
AUDNZD Target Hit & UPDATE!Welcome back! Let me know your thoughts in the comments! **AUDNZD - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Short
by BKTradingAcademy
1