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Reversalpattern

USDCHF | Perspective for the new weekFrom the weekly chart, the overall perspective is Bearish despite the uptrend scenario on the daily chart that began on the 2nd of November 2021. The Greenback climbed to over a two-week high prior to the Non-farm payroll report but was struck with a wave of "sells" after the report detailed that the US economy added 199,000 new jobs in December - a feat which was below the consensus of 400, 000. Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Trendline Observation: i. Since July 2020, it is observed that the Fr0.93750 zone has been a strong area for the bears. ii. The Bullish run that began on the 2nd of November 2021 was stalled at Fr0.93750 (an area peculiar with strong selling pressure in the last 18months) and was immediately followed by strong selling pressure which is represented on the chart bearish engulfing candle iii. Trendline: The visual representation of a line drawn above pivot highs reveals the prevailing direction and speed of price action in the last42 days. iv. And since the strong reversal, buyers have been finding it difficult to break through Fr0.92800. A character that emphasizes the selling pressure at this juncture in the market. v. The breakdown of the Bullish trendline and Key level in December 2021 is a further signal that buyers are losing steam as they make another attempt to hijack the momentum from sellers during last week trading session. vi. For me, the surge in price during last week trading session could probably lead to a retest of the bullish trendline broken to incite a further decline in price in the coming week(s). vii. The early hours/days of the new week might see a price climb into the new supply zone I have identified within Fr0.92120 &0.92450 where I shall be looking for a reversal set up to take a short position viii. If this does not happen and price decides to do an outright breakdown of key level @ Fr0.91750 then it is advisable to use the key level as a yardstick for precautionary measures... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 150 pips. Risk/Reward : 1:5 Potential Duration: 2 to 7days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
4H DOTUSDT potential to the upside!Hi everyone! 4H" DOT is currently looking to bounce back up from this local support level at $25, If this is accomplished over the weekend. We might continue to see it retest $30 mark. But due to the current market "BTC" I see that we need a lot buying pressure to build the required volume for it to able to go back up to the $40 Mark. Also Looking at the chart I see a formation of reversal pattern. Further more I have used the Pitch-Fork to help me analysed to see possible break out points in conjunction with the resistance levels showed. (to project future the trajectory) If we fail to for a break out pattern we my see it going below $20 and sitting at a lower support. ALWAYS look for extra confirmation before making any trade. Happy trading people (No financial advice) DISCLAIMER The trading ideas, analysis, and comments above should not be considered financial advice or recommendation to trade or invest in any financial product. Your personal situation has not been taken into consideration in the trade ideas. This page is for general educational purposes only. Do not buy or sell any product discusses on this page before doing your own research. Always do your own analysis and research and be aware of the risks involved in trading any financial product :)
Long
by CryptoTraderRetired
1
EURUSD | Perspective for the new weekHappy New Year! I welcome you to another new year with an against all odds expectation as I look forward to a Bullish expectation if the price successfully completes the reversal set-up identified on the Daily time frame (despite everyone looking for sell opportunity). Technically, the Euro continues to lurk around respected Demand level with high hopes of shooting above Key level @ $1.31 Price action remains stuck in a tight range as participants wait for additional catalysts such as economic data from the EU and U.S., Non-Farm Payrolls report for signals. Tendency: Uptrend (Bullish) Structure: Supply & Demand | Reversal pattern (ascending triangle) Observation: i. Since the beginning of the last year 2021, the Euro recorded a 9.4% decline against the Greenback to express an emphatic bearish momentum. ii. The bearish momentum appears to have found bottom @ $1.12 in November 2021 which can be evident in the character of price action in the last 3 months. iii. Since hitting bottom @ $1.12, we have noticed a gradual bullish momentum as the price continue to find higher lows but met with a strong resistance level @ $1.138 area hereby transposing into an Ascending Triangle formation. iv. Ascending Triangle: the resistance line runs parallel while the support line is rising and to avoid false breakout at $1.138, we might want to wait for confirmation in the form of a retest of this level to go long. v. However, it is worthy of me to note here that the above key level @ $1.131 appears to be a comfort zone for me to long with hopes of adding to my existing position at Breakout/Retest of $1.138 area. NB: Considering the long-term Bearish momentum, it is appropriate that we remain conscious as this narrative on a Bullish bias might be a correction phase that might incite a downtrend continuation but till then ... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 250 pips. Risk/Reward : 1:4 Potential Duration: 5 to 15days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
2
DXY 96.28 +0.06% LONG IDEA * PRICE ACTION & REVERSAL PATTERNSHELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE, HERE'S A LOOK AT POSSIBLE SCENARIOS THAT COULD PLAY OUT IN THE COMING WEEK ON THE DOLLAR INDEX . * The index broke out of a ascending channel but seems the channel might not be out of play as of yet. - Short term the index is currently completing a possible inverted H&S formation on the 4h chart. - Looking for long entries on the metal this week should all the rules of the formation be met. lets see how it goes IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE SMASH THAT LIKE BUTTON & LEAVE A COMMENT. ALWAYS APPRECIATED ____________________________________________________________________________________________________________________ * Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. _____________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - SWING TRADE
TVC:DXYLong
by PULEMokhothu
4
USOIL 76.02 +0.06% SHORT IDEA * REVERSAL & PRICE ACTIONHELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE, HERE'S A LOOK AT POSSIBLE SCENARIOS THAT COULD PLAY OUT IN THE COMING WEEK ON OIL . * The ENERGY is range bound within support and resistance structure of an descending channel . - long term the metal is currently completing a possible H&S formation on the D,W & M chart. - Looking for shorts on the ENERGY this week lets see how it goes IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE SMASH THAT LIKE BUTTON & LEAVE A COMMENT. ALWAYS APPRECIATED ____________________________________________________________________________________________________________________ * Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. _____________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - SWING TRADE
TVC:USOILShort
by PULEMokhothu
2
XAU/USD 1804.60 +0.19% LONG IDEA PRICE ACTION HELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE, HERE'S A LOOK AT POSSIBLE SCENARIOS THAT COULD PLAY OUT IN THE COMING WEEK ON THEGOLD METAL . * The metal is range bound within support and resistance structure of an ascending channel. - Short term the metal is currently completing a possible double bottom formation on the 4h chart as confirmation. - Looking for long opportunities on the metal this week lets see how it goes IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE SMASH THAT LIKE BUTTON & LEAVE A COMMENT. ALWAYS APPRECIATED ____________________________________________________________________________________________________________________ * Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. _____________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - SWING TRADE
OANDA:XAUUSDLong
by PULEMokhothu
GBPUSD | Perspective for the new week | Follow-upWith over 500pips in our direction since my last publication on this pair (see link below for reference purposes), we might be looking forward to a Bullish momentum in the coming week(s) following the Breakout of the Bearish Trendline during the latter part of last week trading session. It is clear that the Pound went back and forth during the course of last week trading session before breaking through Key level @ $1.32300 to incite a possible bullish momentum that could either be a retracement or an outright reversal. Tendency: Uptrend (Bullish) Structure: Supply & Demand | Trendline | Reversal pattern (Breakout) Observation: i. After my last publication on this pair, we witnessed a 4.2% decline in the price of the Pound against the Dollar. ii. And since price tested the $1.319 area, a sharp rejection of this level in the last two weeks could be a reversal signal as sellers continue to find it difficult to break through this area. iii. The visual representation of a line (Bearish trendline) drawn over pivot highs reveals the prevailing direction of price action in the last two months. iv. The multiple rejections of $1.319 led to the Breakout of Key level on Friday appears to be a signal for me to prepare for buying opportunity against the new week. v. The early hours/days of the new week might see a price plunge into the Key level to incite the potential rise in price. vi. In this regard, above key level @ $1.323 shall be a comfortable area to take on a Long position with an opportunity to add to the existing position at Breakout/Retest of $1.327... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:5 Potential Duration: 3 to 7days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
DIVISLAB - Price Action Analysis Currently, BSE:DIVISLAB having witness of tremendous selling pressure for last couple of week and creates bullish harmonic Shark pattern with the PRZ (Prize Reversal Zone) level 0.886 at price 4317. BUY : buying only happens when price will touch at the Demand zone (4196-4336) and making confirmation candle. SELL : Our target would be up to supply zone (4728-4831) and any reversal sign at that zone also creating short opportunity as well. Those who takes buy opportunity also creating SL in between the range of 3932-3800. you can easily get 1:1 or 1:2 risk and reward.
BSE:DIVISLABLong
by vraj8597
BTC Dominance Daily Reversal? Here's Why.BTC Dominance is giving us a strong indication the BTC dominance could break to the upside. Here's Why: - We are hitting a key support level for the 3rd time on the 1D chart, showing significance in this support. - We have been in this falling wedge pattern for a long time and it's highly likely we break either up or down in the very near future. - RSI, MACD, and Stochastic RSI all started curving up, after bouncing off the bottom of the falling wedge trendline (this is a strong bullish indication of some positive price action to come when all 3 line up like this). If we do reverse here and head up to test the triple bottom neckline we will have confirmation of the triple bottom and potential for a full BTC season to play out. I am now looking for some kind of move out of BTC. Either up or down, we will have to follow the chart. But I am currently in favor of a bullish BTC move in the next week. Providing BTC DOM breaks to the upside of this falling wedge. There is also potential for alts to see more downside if new money isn't following this BTC move. And if the Total Crypto Market cap doesn't show us some kind of reversal.
CRYPTOCAP:BTC.DLong
by UnknownUnicorn15302902
USDJPY | Perspective for the new weekAs the Greenback appear to begin on a positive note during the initial hours of the Tokyo session today, the US inflation concerns ahead of this week’s US Consumer Price Index (CPI) is likely to be a major determinant on this pair. However, the strong bearish engulfing candle that thwarted buying momentum on the 29th of Nov 2021, sends a wave of caution as any selling opportunity can only be confirmed if we have either a rejection of the broken bullish trendline or an outright breakdown/retest of JY112.800 within the week. Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Trendline Observation: i. Since mid September 2021, the USD recorded 5.85% growth against the Yen to initiate an uptrend momentum. ii. But after testing JY115.500 on the 24th of November 2021, we witnessed a sharp decline which broke the Bullish Trendline to the downside insinuating a possible reversal or retracement of Impulse leg (check weekly chart). iii. During the course of last week trading session, I observed that the price broke and closed below the key level @ JY112.800 a couple of times and this gives me an impression that the sellers are gaining momentum at this juncture. iv. Patience is hereby required at this point as the early hours/days of the new week might see a price climb to test the new supply level identified on the chart around JY113.750/114.500 to incite further decline. v. In case the price does not climb and we witness a Breakdown of the Demand level which has held price "supported" since September 2021; then we can prepare a sell position with the key level @ JY112.800 as a yardstick... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:4 Potential Duration: 7 to 15days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
CHFJPY | Perspective for the new week | Follow-up detailsWith over 60pips in our direction since my last publication on this pair (see link below for reference purposes), I am expecting that the retracement phase will push into a 50, 61.8 or 78.6% retracement before the trend continuation begins. So, if you are not in the bearish train you still have a minimum of 150pips to catch before the buyers find a good price! Tendency: Uptrend (Bullish) Structure: Breakout | Supply & Demand | Trendline | Retracement | Harmonic move (AB=CD) expectations Observation: i. This is going to be a follow up on my last speculation on this pair as it appears that the retracement of the Impulse leg identified as finally taken course and we are looking at the Key level (JY121.000) area for reversal set-ups. ii. The visual representation of a line drawn under pivot lows on the weekly chart reveals the prevailing direction and speed of price action since September 2019. iii. And after considering the long term bullish perspective in this market, it is appropriate that we remain a little more patient for buying opportunity after the exhaustion of the correction phase after which we can look forward to a possible harmonic move (AB = CD pattern) with parameters explained below; a. Impulse A-to-B is expected to be in harmony with the potential C-to-D leg. b. The B- to-C leg is expected to fall within 50 to 78.6% Fibonacci retracement of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext . of the A-to-B @ JY128.000 area.. iv. So, while we wait for buying opportunity; the counter-trend in the guise of a retracement could be a risk worth taking (see link below for my previous analysis supporting a bearish bias)... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 500 pips. Risk/Reward : 1:5 Potential Duration: 10 to 20days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
1
Is it time to buy GOLD? Important news!So far, GOLD has been moving exactly as expected. If it continues the same way, then today should be time to buy! It is also possible to see one last push below 1760 and then a reversal. This will be the entry moment! Stops below the reversal candle! Targets up at 1820! The NFP will be published today. This is the perfect moment for a price reversal and that's why it's important to watch out for market reaction! We will be monitoring this setup. Good luck!
FX_IDC:XAUUSDLong
by ForexTrendline
27
EURUSD > Possible Head and Shoulder Pattern!!Analysis on #EURUSD In my last EURUSD post, I expected to see the bottom here and indeed we did see a bottom but I am still not involved in any trade here especially not before NFP. as you can see we kinda have a reversal pattern some might classify it as a head and shoulders pattern, I do too. if the market move and closes above trend line resistance I will then look for a bullish trend continuation entry if the rules are met similar to my post on GBPUSD I explained why I don't think it is a good idea to sell dollars, you can read all about it in my GBPUSD post like and comment will be hugely appreciated, thank you so much for your support. Check today analysis below⠀ >>“ Success is a journey, not a destination"
by TheTradersAvenue
17