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Reversal

EURAUD - Wait For It ⏱Hello TradingView Family / Fellow Traders, 📈 EURAUD has been overall bearish , trading inside the falling channel in red and it is currently approaching the lower red trendline. Moreover, the zone 1.6 is a robust support level. 🎯 Therefore , the highlighted red circle represents a significant area to consider for potential buy setups, as it marks the intersection of the green support and lower red trendline. 📚 As per my trading style: As EURAUD 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
1
USDCAD - Wait For The Rejection 📈Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📉 USDCAD has been overall bullish trading inside the ascending triangle in red, and it is currently approaching around the lower bound / trendline. Moreover, the zone 1.33 - 1.34 is a strong support. 🏹 So the highlighted red circle is a strong area to look for buy setups as it is the intersection of the blue support and lower red trendline acting as a non-horizontal support. 📚 As per my trading style: As USDCAD is sitting around the red 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
by TheSignalyst
2
🔥 QI Huge Risk Reward Signal: RSI Reversal PlayQI has been one of the major movers of the last two weeks. Two hours ago, the RSI has hit oversold on the hourly for the first time since several weeks. This signal is based on the idea that bulls will be hopping back into this token and push it upwards. Furthermore, the oversold RSI has occurred at the support level, further reinforcing the reversal narrative. Stop under the oversold-RSI-low. Target at the recent top. This allows us to create an amazing trade with a huge potential pay out.
Long
by FieryTrading
13
Tezos - XTZUSD - Sweet Spot TradeIn last weeks Spaces , I discussed "sweet spot trades". Tezos ( KRAKEN:XTZUSDT ) -- prices bounced off of, and showed a clear rejection (support) of $0.65 level, which became the "head" in an upward slanting inverted head and shoulders bottom. This pattern is developing with enough clarity for me to take my first-ever position in XTZUSDT... BUT... until a decisive breakout in either direction, either above the neckline, or below it/below the right shoulder - as a failure (etc. etc.), my outlook is neutral . I would prefer to be long, and tbh, I would not short this market even if the pattern fails. It is a good pattern to monitor nonetheless. My goal in December 2023: stay small, don't get greedy - we're trading the highest volatility, most speculative asset class of all time. Caution #2: Tezos has lagged the larger tokens YTD; thus, sizing down accordingly As always, this is Not Financial Advice (NFA), Do Your Own Research (DYOR). #jk
by jBTCkingaling
all that glitters is not gold 🥇Hello TradingView Family / Fellow Traders, 📌 Weekly: Left Chart From a long-term perspective, Gold appears to be confined within a range, currently nearing its upper boundary. As long as the 2100.0 resistance holds, the possibility of a bearish correction persists. Confirmation of a bearish reversal setup would depend on lower timeframes. 📌 H1 : Right Chart From a short-term perspective, the Gold market structure has been clean lately. Every time a low or high is broken, it signals a short-term trend reversal. If we follow the same logic, the bulls are currently in control. For the bears to take over, a break below the last low highlighted in red is needed. In this case, we anticipate a bearish movement till the 1985.0 demand zone. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
OANDA:XAUUSD
by TheSignalyst
BTCUSD: Caution Despite Bullish TrendThe chart currently displays a rising wedge pattern on BITSTAMP:BTCUSD , a configuration often preceding a bearish reversal. Despite the recent price decline, the market trend is still upward, and prices are consolidating within the expected range. Currently, the price is positioned in the middle of the wedge's range, indicating a neutral stance. Traders should monitor the price movement closely in the coming days for signs of either continuation or reversal. After the high on November 9, the price action retraced to the 23.60% Fibonacci retracement level, a pattern that is seemingly repeating itself as we observe the current retracement. The RSI indicator suggests that the market is potentially overbought, indicating exhaustion, which could lead to bearish divergence. However, there is still a possibility for the price to push upwards, challenging the resistance zone between $46,000 to $48,000 before any reversal could be confirmed. From a trading perspective, the Bonsai indicator has not signaled a short position yet, hence our current long position. However, given the rising wedge formation, we are taking partial profits and closely monitoring for any indication of a trend reversal. In terms of recent fundamental news, Bitcoin has seen a mix of potential bullish drivers, such as increased adoption by mainstream finance platforms and positive developments in blockchain scalability solutions. Yet, these factors don't guarantee continued price increases; past market cycles have shown that Bitcoin can experience significant corrections despite positive news.
by bonsai_trade
BTC - Correction Phase Almost Done 👌Hello TradingView Family / Fellow Traders, Based on my recent BTC analysis (attached on the chart), we anticipated the onset of a bearish correction around the upper boundary of the channel, unless there is an upward break of the last high marked in red. 📉 BTC fell short of surpassing the previous minor high and, instead, was rejected at the upper bound of the channel, leading to a subsequent decline. 📈 Currently, BTC is approaching the lower boundary of the channel. As a result, we will be on the lookout for trend-following buy setups, knowing that BTC might still test the lower red trendline before the bullish trend resumes. 📉 We will be on the lookout for buy setups unless there is a downward break of both the lower red trendline and the 40,000 level. In such a scenario, we anticipate a medium-term shift in momentum from bullish to bearish. 📚 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
50
AUDCHF - Trading The Channel 🌙Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📉 AUDCHF has been overall bearish trading inside the falling channel in red, and it is currently approaching around the upper bound / trendline. Moreover, the zone 0.59 is a strong resistance. 🏹 So the highlighted red circle is a strong area to look for sell setups as it is the intersection of the green resistance and upper red trendline acting as a non-horizontal resistance. 📚 As per my trading style: As AUDCHF approaches the red 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
2
Litecoin(LTC): Below 200 EMA / Drop to Come? The LTC/USDT trading pair on the daily chart is hinting at a bearish outlook following a rejection from the 200-day Exponential Moving Average (EMA). Currently, the price is under the 200 EMA—a bearish sign. We are watching this level closely, as maintaining below it could lead to further downward movement. The presence of long wicks on recent candlesticks suggests that while buyers are attempting to push the price up, sellers are ultimately overpowering them, leading to a close near the low of the day (and showing strength by doing it multiple times). If this bearish pressure continues, we may expect to see the price decline further, potentially testing the next levels of support. As always, we should monitor for any bullish signs or a potential reversal, but as of now, the momentum is favouring the bears.
Short
by SwallowAcademy
8
AUDNZD - Trading The Wedge 🌙 AgainHello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. As per my last AUDNZD analysis, we have been looking for sell setups around the green resistance zone. AUDNZD traded lower and it is currently hovering around a robust demand zone. Moreover, it is approaching the lower red trendline. 🏹 So the highlighted red circle is a strong area to look for buy setups as it is the intersection of the blue demand and red trendline acting as a non-horizontal support. As per my trading style: As AUDNZD approaches the red 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
by TheSignalyst
Gold | Where is it headed next?Gold saw a massive spike at the once highest level gold has ever seen and has since then closed under this level (on the daily chart) and is further on the way down again. Now I see a lot of people looking for longs on gold but I don't want you to forget that gold has been rejected 3 times in this zone before and went in a downtrend. So before you load up your longs and look for new highs, don't forget that price just might reverse here. Of course gold will someday see new highs but I don't think it will be for this year. Let me know what you think! Be patient and manage your risk!
OANDA:XAUUSDShort
by FX_Unlimited
ETH - Decision Zone Ahead 📍Hello TradingView Family / Fellow Traders, ETH is currently hovering around a robust resistance zone and the upper bound of the red wedge pattern. Weekly Chart: 📈 To maintain control and establish a long-term bullish perspective, a weekly candle close above 2300.0 is essential for the bulls. If achieved, a movement toward the next resistance at approximately 3000.0 could be anticipated. H4 Chart: 📉 Conversely, the bulls will remain in control unless the last low in blue at 2120.0 is broken downward. In this case a bearish correction till the 1700.0 mark would be expected. 📚 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
Inverted Head & Shoulders - UCHFHere we have USD/CHF on the 30 Min Chart! It looks to be outlining a potential Inverted Head and Shoulders Pattern upcoming!! The First Low or "Shoulder" @ .86792 followed by the Lower Low or "Head @ .86662 with price moving back up to the Confirmation of Pattern or "Neckline" @ .86973 makes me believe we will get a BREAK of Confirmation @ the 3rd touch of the Neckline with price continuing HIGHER! The RSI indicator is also throwing out a Slight Divergence, strengthening Bullish Bias on this possibly imminent Reversal Pattern! Fundamentally this week: USD - JOLTS (Tues) Non-Farm Payroll (Wed) Unemployment Claims (Thur) Non-Farm and Unemployment (Fri) CHF - CPI (Mon) Currency Reserve (Thur) **Chart Patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS!! -Pattern Prediction- *If Price Breaks and Closes below .86792, Pattern INVALIDATED! *If Price Breaks and Closes above .86973, Price Action will initiate my Trade Action Plan!
Long
by Novi_Fibonacci
AUD/USD: Reversal Sell Opportunity Confirmed!!!On November 29 and 30, AUD/USD touched a crucial pivot point at the price of 0.66411, indicating a potential change in direction, especially as it aligns with a level of miring Support and Resistance, suggesting a Major downtrend. The bearish reversal signal on the daily candle following the pivot point touch adds confidence to the potential downturn. The recent dovish stance conveyed by the Reserve Bank of Australia (RBA) further adds pressure on AUD/USD. Technical Analysis: Pivot Point and Support/Resistance: The price hitting the pivot point at 0.66411 suggests a potential reversal, particularly at the miring Support and Resistance level. Bearish Reversal Signal: The formation of a bearish reversal pattern after touching the pivot point indicates weakness in the bullish momentum. Major Downtrend: The trendline illustrates that AUD/USD is currently experiencing a Major downtrend. Fundamental Analysis: Dovish RBA Stance: The dovish statement from the RBA can enhance the downward pressure on AUD/USD. Trading Scenario: Considering the above factors, traders may contemplate the following scenario: Wait for Correction: Exercise patience until the price undergoes a correction from the 0.66411 level. Sell Limit with Confirmation: Initiate a sell position after a correction, with confirmation of further downside. Confirmation could involve the formation of a bearish pattern. Target Take Profit: Set a take profit target around 0.64660, an area indicating the potential for further decline. Stop Loss: Safeguard the position by placing a stop loss above the nearest resistance level or above the high of the confirmation candle. It's crucial to continuously monitor market conditions, stay informed about the latest news, and practice prudent risk management. Trading always involves risks, and the final decision remains the responsibility of the trader.
Short
by fardycurry
2
NZDCHF - Following My Friend - The Trend 👬Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. NZDCHF has been overall bearish trading within the falling orange channel and it is currently retesting the upper bound / trendline. Moreover, the zone 0.55 - 0.5575 is a strong resistance. 📉 So the highlighted red circle is a strong area to look for sell setups as it is the intersection of the green resistance and upper orange trendline acting as a non-horizontal resistance. 📚 As per my trading style: As NZDCHF approaches the upper red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) Knowing that NZDCHF can still trade inside the resistance zone before going down. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
Bearish Sequence (Descending Triangle) - EJHere I have EUR/JPY on the 4Hr Chart! I believe we are seeing a Correction in the Bearish direction since EUR/JPY has been traveling in a UPTREND for quite some time! Our current Highest High @ 164.308 on Nov' 16th is the first touch of the Falling Resistance followed by the failed attempt at a Higher High @ 163.719 on Nov' 26th forming what could potentially be a Descending Triangle Pattern! **Chart Patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS! Fundamentally this week: EUR - CPI (Wed), Flash CPI & OPEC (Thur) and President Lagarde Speaks (Fri) JPY - OPEC (Thur) -Bearish Prediction- If Price Breaks and Closes above 163.719, Set-Up INVALIDATED! If Price Breaks and Closes below 161.245, Price Action will initiate my Trade Action Plan!
Short
by Novi_Fibonacci
1
It is time to SKALE ⤴️Hello TradingView Family / Fellow Traders, 📉 After a 130% surge , BITRUE:SKLUSDT has entered a correction phase and is currently trading within the descending blue channel. 🏹 SKL is presently approaching a robust demand zone highlighted in green. Therefore, as the price approaches this zone, we will be seeking trend-following buy setups on lower timeframes. 📈 For the bulls to assume control and initiate the next upward impulse movement, a breakout above the blue channel is required. Meanwhile, an expected movement towards the demand zone is anticipated. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
Long
by TheSignalyst
1
ZEC USD - Wyckoff Accumulation Phases This analysis is for my own education, I am trying to learn the wyckoff method so please correct me if I am wrong. Phase A: We can clearly see the stopping of the previous down trend and the dominany supply. Preliminary support (PS) is very short lived and followed by continuation of selling climax (SC). We can see the Automatic Rally (AR) right after the SC. There is a secondary test which is successful but not quiet close to SC support, so there is less selling. Phase B: Price swings are wide and high volume throughout Phase B, which takes around 4 years. At times showing Signs of Strength (SOS) within the trade ranges (TRs). Phase C: I believe we are now in Phase C, with a strong pullback after some SOS. Price moves below Phase B trade ranges. Volume has been fairly low. We could call this area LPS - last point of support. I identify this zone to be a bear trap. This can mark the beginning of a new uptrend soon. The current crypto market conditions also support this analysis. If we see a sign of strength again soon, it could validate it. Phase D: If this analysis is correct, we should see a dominance of demand over supply for Phase D to activate. Expect a price movement towards the top of the trade range. Indicators: TLL RSI - heavily oversold Money flow - shows sign of reversal but still not validated, we need to go above 0. Volume: Low
BITFINEX:ZECUSDLong
by TheAlchemist888
11
AAPL Reversal. Time to SHORT Like many other stocks AAPL has been on a sharp rise up since testing its 200 day MA. After testing the 200 day MA AAPL has broken out of a descending wedge to the upside. My conservative price target was $196 which was $2 short of its all time high. Momentum has started to slow and it is looking like AAPL is ready to retest its 200 day. Negative divergence noted in the RSI as price reached previous target. Time to close out longs and open shorts. My next price target is $175 and I am planning on starting a short position using in the money puts.
NASDAQ:AAPLShort
by Average_Joe_Options