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Reversal

Potential Head and Shoulders - GUHere I have GBPUSD on the 4Hr Chart! Price had been ultimately traveling sideways but after the Lower High created on Jan. 5th, price has been unable to break it and is in a steep decline after the positive news for USD! Giving us what looks to be a potential Head and Shoulders pattern!! With the very wide "Right Shoulder" theoretically being created, we are now waiting for the Confirmation of Pattern with Price touching the "Neckline" or Support Zone I have marked.
Short
by Novi_Fibonacci
The Reversal is NEAR 🏹Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 NEAR has exhibited an overall bullish trend , trading above the red trendlines zone. At present, NEAR is undergoing a correction phase and it is currently approaching the red trendline acting as a non-horizontal support. Moreover, it is retesting a strong demand zone marked in green. 🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the green demand and lower red trendline acting as a non-horizontal support. 📚 As per my trading style: As #NEAR approaches the lower blue circle zone, I will be looking for bullish reversal setups (like a double bottom 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
Long
by TheSignalyst
BTC - Short-Term Decision Zone 📈📉Hello TradingView Family / Fellow Traders, After breaking below the 45,000 local support, BTC traded lower, and it is currently sitting around the lower bound of the orange flat wedge pattern. Now, what's next? As long as 41,300 holds, we will be looking for trend-following buy setups. 📈 For the bulls to take over, we need a momentum candle close above the 44,100 local resistance. In this case, a movement towards the 48,000 - 50,000 resistance zone would be expected. 📉 Alternatively, if 41,300 is broken downward , we expect further bearish movement towards the 38,500 demand zone. Which scenario do you think is more likely to happen first, and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
by TheSignalyst
2
GBPCHF - Wait For The Trigger 🎯Hello TradingView Family / Fellow Traders, 📈 GBPCHF is overall bullish from a short-term perspective trading inside the rising wedge in red. However , it is currently sitting around a strong supply zone, thus we will be looking for sell setups. 📉 For the bears to take over and activate our sell setup, we need a momentum candle close below the last major low highlighted in gray. Meanwhile, until the sell is activated, GBPCHF would remain bullish and can still break the supply zone upward. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
Short
by TheSignalyst
1
BTC - Next Stop 50k 📍 Unless!Hello TradingView Family / Fellow Traders, In my latest analysis, BTC successfully surpassed the 45,000 resistance and traded higher. However, yesterday, BTC faced rejection at the 48,000 level and the upper boundary of the orange wedge pattern. Now, what's next? 📈 BTC is anticipated to remain bullish , and we anticipate a potential movement towards the weekly resistance zone between 48,000 and 50,000, as long as the 44,500 support level is maintained. 📉 In the event of a downward break below the lower red trendline and the 44,500 support level, we expect a continuation of bearish movement until reaching the lower boundary of the orange wedge pattern, approximately around 42,500. Which scenario do you believe is more likely to occur first, and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
by TheSignalyst
6
EURJPY - Potential Bearish Control 🐻Hello TradingView Family / Fellow Traders, 📈 EURJPY been overall bullish , trading inside the blue channel and it is currently approaching the upper blue trendline. Moreover, the zone 159-160 is a robust resistance zone. 🎯 Therefore, the highlighted red circle represents a significant area to consider for potential sell setups , as it marks the intersection of the red resistance and upper blue trendline. 📚 As per my trading style: As EURJPY approaches the blue circle zone, I will be actively searching for bearish reversal setups to capture the next bearish impulse movement. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
Short
by TheSignalyst
CGC 🆕Investing in cannabis stocks has been a rollercoaster ride, with fluctuating values due to legal, regulatory, and market factors. Despite volatility, the future looks promising as legalization continues in various regions. Motivation lies in the potential growth as the industry matures and gains wider acceptance, leading to increased market opportunities and potential profits for savvy investors. Understanding the landscape, staying informed about legislative changes, and diversifying your portfolio can help navigate the uncertainties and maximize the potential of cannabis stocks in the long run
NASDAQ:CGCLong
by TrojanBible
CHFJPY - Already Over-Bought 🌙Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📉CHFJPY has been overall bullish trading inside the rising wedge in blue, and it is currently approaching around the upper bound / trendline. Moreover, the zone 170.5 is a major previous high. 🏹 So the highlighted blue circle is a strong area to look for sell setups as it is the intersection of the green major high and upper blue trendline acting as a non-horizontal resistance. 📚 As per my trading style: As CHFJPY approaches the blue 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
US500 - Potential Bearish Momentum ❗️Hello TradingView Family / Fellow Traders, In accordance with my latest analysis, which is attached to the chart, we have been anticipating a rejection of the all-time high. 📉 For the bears to assume control and confirm the beginning of the correction phase, a break below the last major low highlighted in red is required. Meanwhile, until the bears take control, US500 would remain bullish and could still move within the green all-time high zone. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
CAPITALCOM:US500
by TheSignalyst
Double Bottom - UCHFHere I have the USD/CHF on the 1Hr Chart. Price action has outlined what looks to be a possible strong reversal pattern, the Double Bottom! Price has given us two Lows with the most current being a Higher Low. Now I expect with price reaching back up to Confirmation of Pattern @ .8451, we should be given a Break of Confirmation for price to begin creating Higher Highs! RSI was heavily Oversold on the first Low created and looks to start working up above 50 after the last Low! *Chart Patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS! -Pattern Prediction- *If Price Breaks and Closes below .83562, Pattern INVALIDATED! *If Price Breaks and Closes above .8451, Pattern CONFIRMED!
Long
by Novi_Fibonacci
Potential Inverted H&S - GJHere I have GBP/JPY on the 4Hr Chart!! Price has given us 2 Lows both returning to a very clear Resistance Area! This price action could possibly be outlining a very strong reversal known as an Inverted Head & Shoulders Chart Pattern!! Now with the Lower Low or "Head" being followed by Higher Low or "Right Shoulder", this Price Action signifies that price no longer wants to continue Lower and wants to make HIGHER HIGHS!! What we are waiting to see is for price to retest the "Neckline" one last time for a 3rd Touch before giving us a BULLISH BREAK to continue HIGHER!! Strengthening my BULLISH BIAS is the Bullish Divergence on the RSI indicator showing price, after being HEAVILY Oversold Dec. 7th, wanting to reverse in the opposite direction. Fundamentally, this week GBP - "Clear" JPY - "Clear" **Chart Patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS!! -Pattern Prediction- *If Price Breaks and Closes below 179.783, Pattern INVALIDATED! *If Price Breaks and Closes above 184.065, Pattern CONFIRMED! **Price Action after Confirmation of Pattern will initiate my Trade Action Plan!
Long
by Novi_Fibonacci
GBPNZD - Getting OverSold!Hello TradingView Family / Fellow Traders, 📈 GBPNZD has been overall bearish, trading inside the falling channel in red and it is currently approaching the lower red trendline. Moreover, the zone 1.985 is a robust demand zone. 🎯 Therefore , the highlighted red circle represents a significant area to consider for potential buy setups, as it marks the intersection of the blue demand and lower red trendline. 📚 As per my trading style: As GBPNZD approaches the red circle zone, I will be actively searching for bullish reversal setups to capture the next bullish impulse movement. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
by TheSignalyst