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!
Reversal
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
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
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.
USDCHF - Getting Over-Sold❗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
on Daily: Left Chart
USDCHF has been bearish trading inside the falling red channel. However it is currently approaching a strong daily support zone so we will be looking for buy setups on lower timeframes.
on H4: Right Chart
For bullish momentum to prevail and trigger our buy setup, a break above the recently highlighted grayed high is necessary.
Meanwhile , USDCHF would be bearish and can still trade lower to test the lower bound of the daily support. In this case 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
Resistance Ahead | Short BiasOn week chart
$4 is the strong resistance zone for this bullish
If RNDR can break and close above $4, the next target around ATH $8
Otherwise, RNDR will accumulating in range $2-3 a while before massive move will happen
Time will tell
NEARing A Strong Support ✅Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 BITRUE:NEARUSDT has exhibited an overall bullish trend , trading inside the rising broadening wedge in red.
At present, NEAR is undergoing a correction phase and it is currently approaching the lower bound of the wedge.
Moreover, it is retesting a strong support/structure 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 support 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
GBPCAD - Getting Over-Bought ❗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
on Daily: Left Chart
GBPCAD has been bullish trading inside the rising orange channel. However it is currently approaching a strong daily resistance zone so we will be looking for sell setups on lower timeframes.
on H1: Right Chart
For bearish momentum to prevail and trigger our sell setup, a break below the recently highlighted grayed low is necessary.
Meanwhile, GBPCAD would be bullish and can still trade higher to test the daily resistance again. In this case we will be looking for new sell setups.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Be Cautious On Palantir🫨Hello Traders,
My name is Philip and I am just an average stock and indices trader with over 4 years of trading experience💻
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➡️In today's video, I will analyse Palantir for you🫡
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➡️Let me know your opinion about today's analysis in the comments below👇
➡️I will only enter a trading position if ALL of my trading criterias are met!
Keep your long term vision!
P.S. Trading is risky and most beginner traders lose money!
XRP - Impulse - Correction - Impulse ↗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 According to my latest analysis (attached on the chart), we expected XRP to reject the 0.7345 zone.
This week, XRP entered a correction phase, and it is currently approaching the support zone.
🏹 For the bulls to regain control and initiate the next impulse movement, we need a break above the red channel and the last major high.
Meanwhile, XRP would be bearish, trading inside the falling red channel, and could still move lower to test the 0.55 support.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
UDMY (Long) - Edutech reversal playFundamentals
Not my usual play, but I do like to tell myself that I have developed a keen eye for reversals. So let's see if this one works out
Udemy is an Edutech firm with surprisingly good fundamental s, considering the stock price would probably be telling you otherwise
Valuation is not extended (compared to the current market standards - P/S = 2.8), the sales growth is reliable and strong while the firm is nearing profitability
The business carries high margins and if it remains on the current trajectory, it is bound to become a highly profitable firm.
And as a bonus, it does not have any debt!
The thing I like the most though is the support the stock is getting from the overall education sector. Look at the charts of NASDAQ:DUOL or NYSE:COUR (which I recently covered in another post) to see how strongly these stocks have been performing
Technicals
Reversals are very tricky, but there is a couple of signals to always look out for
The stock broke the series of lower lows and lower highs and is establishing a new higher high
The price broke cleanly through all moving averages
And it has done so on very positive news that carried the stock 30% higher . Most importantly, we can see follow-through in price; not collapsing higher or consolidating, but rather marching higher
RSI is breaking towards new highs despite the stock being price-depressed and stochastics are showing a strong momentum
I do not know if this trade lives up to the expectations, but this is how I would imagine an ideal reversal
Trade
Putting on the trade is rather tricky , I am not going to lie. Hence why I have not put it on myself either
The next support levels are unfortunately 10% away (the black line) and the stock price has not properly pulled back. A good sign of the underlying strength, but bad if one wants to enter the trade
One option is to wait a bit but risk the trade running away from you. This is what I am going to choose because my own risk managemen t would not let me enter the trade at this price.
The other choice is to get in now. In that case, I am going to leave it to each and every one of you to pick your own spot for a stoploss. At this point, there is only one viable level that I can see, which is around the black line depicted on the graph
By the way, a really good pick for a long-term investmen t if someone is interested in that
Follow me for more analysis & Feel free to ask any questions you have, I am happy to help
If you like my content, Please leave a like, comment or a donation , it motivates me to keep producing ideas, thank you :)
CUP O' THE MORNING! - AJHere is AUD/JPY on the 30 Min Chart in what looks to be a VERY convincing Cup and Handle Pattern starting to form!
I expect price will finish the "Cup" @ 97.007
-THEN-
Give us our "Handle" (Higher Low) to continue HIGHER being that its a Strong Reversal Pattern!
Fundamentally:
AUD -> NAB Business Confidence (Mon), Wage Price Index (Tue), Employment Change and Unemployment Rate (Wed)
JPY -> "Clear News Week"
**Chart Patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS!!
History Rhymes 📖🎶Today, I want to share an interesting pattern that BTC has been respecting lately.
1️⃣ First, in June, after a bearish trend, BTC formed a falling correction /pause, and then we experienced a shift in momentum from bearish to bullish.
2️⃣ Then, in mid-July, after a bullish trend, BTC formed a rising correction and then reversed.
3️⃣ In September, once again, BTC formed a falling correction and then traded higher.
🖊 We can clearly see that this pattern is playing out nicely on the BTC Daily chart.
4️⃣ If we apply the same logic to the current price action, BTC should be in a rising correction phase.
For it to be confirmed, we need BTC to reject the upper green trendline again and then break below the last low in green at 33,000. In this case, we will be expecting a bearish trend to start, reaching around the lower orange trendline at 29,000.
🗒 What do you think?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
And always remember: All Strategies Are Good; If Managed Properly!
~Richard Nasr
Reversal Pattern, Double Top might be appearedOn week chart,
Very impressed for Injective recently with nearly 1,500% from $1,1 now BINANCE:INJUSDT is trading at $17,22x
Injective has ATH around $25 this level is Resistance for this bullish. Besides, some signals for reversing such as
- ADX is moving up to 60
- RSI overbought and can be divergence for next HH
- Volume is weaken
Time will tell
CAT : Unlocking Upside Potential with a $290 TargetCaterpillar Inc (CAT) has recently demonstrated significant upside potential according to the latest technical analysis. Let's delve into key points supporting this positive outlook:
Recent Developments:
On October 31, 2023, CAT's stock price touched a critical support area at $228.37, marking its lowest level since June 2023. The significance of this level is reinforced by the presence of a long-term upward trendline dating back to March 2021. This underscores strong demand at this level, signaling the continuation of the upward trend.
Positive Reversal:
Following the support touch, CAT shares experienced a positive reversal by successfully breaking through the previous resistance level at $244.24 on November 3, 2023. This indicates an increased buying pressure, suggesting that CAT has the potential to continue its ascent to higher levels.
Target Price Set:
The proposed target price is around $290, reflecting the highest level reached in August 2023. This target selection is based on psychological aspects and the Highest level of all time
Momentum Indicator Support:
Two key momentum indicators, MACD (Moving Average Convergence Divergence) and RSI (Relative Strength Index), provide positive signals:
MACD is above its signal line and the zero level, indicating that upward momentum is increasing, supporting the continuity of the uptrend.
RSI has moved above the 50 level and is approaching 70, suggesting that CAT may be in an overbought condition. This indicates a higher number of buyers than sellers, supporting the prediction of price increases.
Conclusion:
Based on this in-depth technical analysis, Caterpillar Inc (CAT) shows robust potential for upside movement. However, as with any investment decision, it is advisable to conduct further research and consider risk factors before making decisions. Stay informed about the latest news that may impact the overall stock market.
Currency Pair: GBP/AUD SellTrading Plan/Signal
Currency Pair: GBP/AUD
Action: Sell
Entry Price: 1.88326
Stop Loss (SL): 1.94732
Take Profit 1 (TP1): 1.85227
Take Profit 2 (TP2): 1.72405
Reasoning:
The trading plan involves selling the GBP/AUD currency pair. Here's the rationale behind this decision:
Head and Shoulders Reversal: The analysis has identified a head and shoulders reversal pattern. This pattern typically indicates a potential trend reversal from an uptrend to a downtrend. The left shoulder and the head form higher peaks, while the right shoulder forms a lower peak, creating a bearish signal.
Downtrend Anticipation: The head and shoulders pattern suggests a bearish sentiment in the market, indicating a potential downtrend in the GBP/AUD pair.
Trading Strategy:
Entry: Enter the market with a sell order at 1.88326, as this is the point where the reversal is anticipated to start.
Stop Loss (SL): Place a stop loss at 1.94732. This level is set to limit potential losses in case the market moves against the trade.
Take Profit 1 (TP1): The first take profit level is at 1.85227. This is where the initial target for profit-taking is set, anticipating a portion of the potential downtrend.
Take Profit 2 (TP2): The second take profit level is at 1.72405. This level represents a more significant target for profit-taking, in line with the expected downtrend.
Risk Management:
Risk-reward ratios have been considered in setting the stop loss and take profit levels.
Always trade with a risk that you are comfortable with and that suits your overall trading strategy.
Regularly monitor the trade's progress and consider adjusting stop loss and take profit levels as the market develops.
Please note that forex trading carries inherent risks, and it's essential to use proper risk management and only trade with funds you can afford to lose. This trading plan is for informational purposes and should not be considered as financial advice
HOW CAN THIS HAPPEN? 1K IN 8 DAYSIt's about strategies, about learnings, about efforts...
it's about understanding movement and the limits of that movement. then we take the opportunity after understanding it. yes, some effort is required to acquire it.
DISCLAIMER
THIS IS NOT A BUY/SELL CALL, JUST STUDY IDEAS AND ANALYSIS FOR EDUCATION, AND TAKE AT YOUR OWN RISK.
AUDJPY - Long Story SHORT !Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
on Weekly: Left Chart
AUDJPY has been stuck inside a big range and it is currently hovering around the upper bound / resistance zone in green.
on H1: Right Chart
For the bears to take over, and activate our sell setup, we need a break below the last low highlighted in gray.
Meanwhile, AUDJPY would be bullish and can still trade higher inside the weekly resistance 97.0 - 98.0
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
NAS100 Post Reversal 03.11.2023Wall Street is close to its best week of 2023 on hopes for a halt to rate hikes. The Index experienced a strong reversal. The path though is quite unusual since no retracement has been recorded yet.
This might be the opportunity to catch the retracement. The index is expected to return back to the mean and the 61.8% of the move at least. As per the arrow.
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