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Reversal

Gold has Likely bottomed out for this monthI decided to go long on gold immediately after receiving a reversal candlestick at a low on top of daily support. This candle also provided bullish volume after breaking a trendline and creating a new high. Price is now on the buy side of a strong trendline as well as the buy side of a strong support. I look forward to adding an entry upon a reversal candlestick at the retest. At the end of the day we're counter trend trading NOW.
OANDA:XAUUSDLong
by DesharedPierreJr.
Potential High for usdjpy, intraday short setup 30mminUSDJPY has been uptrending rather strong for quite a few weeks now. Its common that you'd like to go go against the trend, however, the only way to learn how to trade reversals is to trade them. Price presented a volatile shooting star for the close of Thursday. (4H). The daily had some wick action also. The 1H had a moving average crossover to the downside before making the latest high. the 30Min has already created a srtrong eveing star and began downtrending on its 2nd lower low. Im looking to get in on the Lower high. A counter trend trade short back down to Weekly support.
Short
by DesharedPierreJr.
1
Buying Ethereum at a Low is a good ideaThe Daily did not confirm its Bearish Engulfing from the 38.2 retracement level. Which tells me that a potential reversal is underway. Especially after a daily hammer and intraday the 1H HAS CONVERTED AN INVERTED HEAD AND SHOULDERS. This is important to our bias change from overall bearish to short term bullish. The 4H hour is in line with this move by the fact that it broke a minor swing high. or a lower high. This buy set-up can be clearly seen on the 30min as well as the 1hour timeframe.
BITSTAMP:ETHUSDLong
by DesharedPierreJr.
1
Triple Top or Triple Bottom?Technical Analysis: Triple Top: Line A - Line B Triple Top Possible: Line X - Line Y Confirmed Formations: Triple Top: A-B Up Trendline (-N-) break during wave (D) Bounce off trendline (-X-) at point (E). Notable Mentions: Trendline (-X-) is 23.6% Fibonacci retracement of 2020 lows to Jan 2022 Highs. Low volume at peak (C) Increased volume at point (E) to the downside Increased volume during the breakout to the downside of triple top A-B Triple top formed inside trendline (-A-) and (-B-) inside the 5min timeframe. The last wave in triple top A-B did not touch the top of trendline (-A-), some may see this as a failed double bottom or false breakout. We entered a possible triple top formation inside trendlines (-X-) and (-Y-). This may turn out to be a triple bottom. Confirmation is to be seen after a sustained penetration below trendline (-Y-) or above trendline (-X-). Bearish: Break and sustain under (-Y-) possible return move (G) and or reversal at point (G). Bullish: Break and sustain above trendline (-B-) from the A-B triple top and sustain above major uptrend line (-N-) Please feel free to give your input, I am in the process of learning Technical Analysis and it would be an honor to learn from you.
AMEX:SPY
by MrCarbides
1
New high coming? This is a very interesting view .. uptrend is really building up and if having those bands on its riding the bulls to push it up higher. New high? This is a maybe we should be able to see a new high, the recent is 1903.. will it surpass it? It might. 1830’s area is a good buy opportunity before the huge sell off. If new high is coming then I say about 2000, some others said 2050 or 2100.. we will see how it plays out if it chose to sell off it’ll sell off. But this seems like a buy in a longterm. Watch any reversals trade safe and if new Hugh is coming then we might see new high for Gold.
OANDA:XAUEUR
by JoyBoyVegae
Intraday Bullish Momentum swingThis is a follow up and actual trade taken by myself. I placed a short term buy today at 10:30A.M on AUDUSD simply because lower lows ceased being formed at a key support level. After a strong bullish correction trendline was broken then on the 4Hour the 8Moving Average crossed to the upside of the 21SMA. that's relevant because it lags behind price. The 1 hour provided some reversal signals at a clear support and the trade was essentially taken based on pure candlestick analysis. I love trading reversal candlesticks on top of support. Especially after a market gap on Sunday. I believe a potential inverted head and shoulders is on the way after price failed to make a lower swing low and is now attempting to create a new swing high. Potential short term up trend beginning with indecision candles then a bullish engulfing on top of a weekly support.
Long
by DesharedPierreJr.
Introducing the Chop and Trend Index (CTI)Get ready to revolutionize your trading strategy with our latest tutorial on the Chop and Trend Index (CTI)! This unique indicator, unlike traditional oscillators, provides a fresh perspective on market conditions by identifying periods of market chop and strong trends. Whether you're trading stocks, forex, or commodities, on any timeframe, the CTI is a game-changer. In this video, we'll break down how it works, how to use it, and how it can enhance your trading strategy. Don't miss out on this opportunity to stay ahead of the market curve with the CTI!
NASDAQ:QQQEducation
by FadingExtremes
BTC - The Range Is Getting Narrower 📦Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. BTC has been boring for the last couple of weeks as it is stuck inside a range. 📉 The range is getting narrower because BTC is forming lower highs and equal lows as a descending triangle pattern. As per the textbook, the descending triangle is usually a bearish continuation pattern. But to me, it can be broken either side. If we break the last major low in red downward, we will expecting further bearish movement till around 25,000 🏹 Here is why the 25,000 zone marked by purple circle is a strong support: 1- Round number => 25,000 2- Classic Resistance Zone Turned Support 3- Lower red trendline from daily acting as a non-horizontal support 4- Lower orange trendline from H4 acting as a non-horizontal support 5- Demand zone 📈 In parallel, if BTC breaks above the last high in blue, we will be expecting a bullish correction till the upper orange trendline. Which scenario is more likely to happen next? and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
25
EURJPY - Looking For Sell Setups ⬇️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. EURJPY is approaching a strong daily resistance and round number 150.0 , so we will be looking for sell setups on lower timeframes. EURJPY is forming a head and shoulders pattern, but it is not ready to go yet. 🏹 For the bears to take over , we need a momentum candle close below the orange neckline. Meanwhile, until the sell is activated, EURJPY can still trade higher and even break the resistance upward. 📚 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
9
Gold creating its 3rd higher high after a steep declineI believe it's time to counter trend trade this pair. I plan on counter trend trading this pullback(retracement) of a daily lower low. TDI was too bearish on the 4hour chart from me to take a long position on Friday but now, all signs are clear for a buy upon a reversal signal at re-test. The swing high is around 1983.27 the swing low is around 1958.15. the neckline for the double bottom is the weekly support. I've already remarked up my chart for the 4hour supports and resistances. I intend to trade as relatively close to naked as possible since the candles speak for themselves as loud as the fundamentals. We're up all night to get lucky as we become more patient with this setup we'll learn that it's the simple fundamentals and basic levels of structure that determine our bias for direction we must be attentive and prepared to switch immediately upon a retest of structure.
OANDA:XAUUSDLong
by DesharedPierreJr.
GOLD - Trend-Following Buy Setup! ↗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. As per my last analysis (attached on the chart), we were looking for sell setups as GOLD has been sitting a strong resistance zone. Now XAUUSD is approaching the lower trendline from Daily. Moreover, the blue zone is a previous high turned into a potential support. 🏹 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the blue support and lower brown trendline. (acting as non-horizontal support) As per my trading style: As GOLD is sitting around the lower the purple 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
OANDA:XAUUSD
by TheSignalyst
8
Introducing the Bars Since EMA Touch IndicatorHey there traders, Stock Justice here! Are you ready to elevate your trading game? Today, we're going to delve into an exciting indicator I call 'Bars since EMA touch', or 'BSET' for short. Buckle up, because we're about to kick your technical analysis up a notch! The BSET, at its heart, revolves around the Exponential Moving Average, or EMA. When setting up BSET, you'll be prompted for the length of the EMA, with the default being 9. This number represents the number of bars that will be averaged to create your EMA line. A higher value smooths out the line, reducing noise but potentially delaying important signals. A lower value makes the EMA more responsive, but at the risk of responding to market noise. BSET calculates how many bars it's been since the price last touched the EMA. A positive number indicates the number of bars since the price was last above the EMA, and a negative number shows how long it's been since the price was below the EMA. BSET also uses the MACD and signal line to color-code these bars. Blue and red bars indicate price is above the EMA, with blue signaling an upward trend and red signaling a possible downturn if the bar number is above 3. White and green bars indicate price is below the EMA, with white signaling a downward trend and green indicating a possible upturn if the bar number is above 3. This color-coding can be a useful tool to quickly determine whether a potential reversal is in the making or if the current trend is likely to continue. But that's not all! BSET takes it a step further by keeping track of how often price trends extend beyond certain thresholds, updating these thresholds if necessary. These thresholds, shown as red and green lines on the histogram, indicate the 15% percentile for bull and bear trends, respectively. If more than 20% of trends exceed the current threshold, it's adjusted upwards. This gives you a historical context for how long trends usually last and can help you spot when a trend is overextended and might be due for a reversal. BSET is an innovative tool that combines trend tracking with volatility in a unique way, helping you better understand market dynamics and make informed trading decisions. Just remember, every indicator, BSET included, is just a tool. Always use them in conjunction with other analysis methods and never risk more than you're willing to lose. That's it for now, traders. Keep your eyes on the charts and remember: Trade safe, trade smart! This is Stock Justice, signing off!
NASDAQ:QQQEducation
by FadingExtremes
BOIL LONG a 3x leverage Natural Gas ETF Natural Gas prices have finally reversed on the FOREX markets after significant downtrends from a historical high. BOIL on the hourly chart has reversed a two-week downtrend and today has an increasing volume. Ir bounced off the lower Fibonacci levels and is looking to revert to the mean. Price was undervalued below the green fair value zone at the VWAP +/- one standard deviation but is now heading back into it from the buying pressure. As a 3x leveraged ETF is prone to more volatility than the unleveraged UNG counterpart. I will play this with a call option contract expiring 3/31 striking $4.00 and expecting at least a 50% return in the upcoming 8 trading days. The risk here is that this is just a short pullback on the downtrend but getting in early on a long and watching carefully is the approach I have taken.
AMEX:BOILLong
by AwesomeAvani
46
GBPJPY - Strong Resistance Zone!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. GBPJPY has been trading in range between our blue/green support and resistance zones. Lately, from a medium-term perspective, GBPJPY has been bullish trading inside the rising broadening wedge pattern and it is currently approaching the upper red trendline. Moreover, the blue zone 171.0 is a strong resistance. 🏹 So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the blue resistance and upper red trendline. (acting as non-horizontal resistance) As per my trading style: As GBPJPY is sitting around the upper 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
4
Analyzing $QQQ with the Dual Dynamic Fibonacci Retracement ToolI've been closely monitoring the QQQ ETF, which tracks the NASDAQ-100 Index. It's a popular trading instrument, and I'm always looking for patterns and potential trade setups that might provide interesting opportunities. In this particular analysis, I used the Fibonacci retracement tool, a widely-used technical analysis method that predicts potential support and resistance levels based on previous price movements. The tool works by drawing horizontal lines at key Fibonacci levels (23.6%, 38.2%, 50%, 61.8%, and 100%) between a significant peak and a significant trough. In our case, the significant peak was QQQ's all-time high of 408.71 in November 2021, and the significant trough was its drastic fall to 254.26 by October 2022. I used these levels to plot the Fibonacci retracement lines. On the date of the analysis, QQQ had rallied to a high of 331.71, slightly above the 50% Fibonacci retracement level of 331.46. This is significant because the 50% retracement level is often a strong resistance or support level. As a trader, it's important to watch how the price behaves around these levels. Now, if this 50% retracement level does indeed act as resistance, we would expect a pullback. But to what extent? To answer this, I plotted a short-term Fibonacci retracement from the October 2022 lows to the current high. The short-term retracement gives us three potential support levels: The 38.2% retracement level at around 315.50 The 50% retracement level at around 303.80 The 61.8% retracement level at around 294.34, often referred to as the 'golden ratio' in Fibonacci analysis. These levels serve as potential targets for the pullback. If QQQ price starts to fall, we'll watch these levels closely to see if they act as support. If they do, it could provide a good entry point for a long position. If they don't, we'll assess if the price could potentially fall further. Of course, this analysis isn't foolproof. Market conditions are dynamic, and multiple other factors can influence price action. However, Fibonacci retracement levels are a valuable tool in my technical analysis toolkit and provide a systematic way to identify potential trading opportunities.
NASDAQ:QQQShort
by FadingExtremes