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Reversalpattern

US500 4667.5 + 1.85% SHORT IDEA * CONTINUATION PTTNSHELLO 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 US 500. The index opened the week with a bullish reversal to test- 61.6 % fib ( 4675.00) * The index is still strongly bearish looking at momentum to the down side * Tested and rejected 61.8 % Fibonacci level signaling continuation * Broke below of structure. - looking for continuation with the bears. 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
UShort
by PULEMokhothu
1
GBPJPY | Perspective for the new weekA hawkish BoJ rate hike amidst a strong UK GDP and Industrial Production figures might propel the Yen to new heights as the Pound looks set to end the following week(s) in the trenches. Technically, with the sight of reversal set-up (triple top look-a-like) at the JY156 zone, It is becoming obvious that the demand zone has lost the momentum to push the price above JY157.5 and the successful breakdown of Key level @ JY156.5 during last week trading session gives a significant clue to the strength of sellers at this juncture in the market. This could be as a result of "quick sell" activities from traders who took advantage of the bullish run... Let's see how it goes!😁 Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Reversal pattern (Triple Top) Observation: i. With a 5.5% growth in the value of the Pound; It has been a Bullish run in the last 3 weeks and the price appears to have found a peak at JY157.8 - an area that has a memory for selling opportunity (as far back as 2013 - see weekly or monthly chart). ii. And since price hit peak @ JY157.8, we have witnessed multiple rejections which culminated in a breakdown of Key level @ JY156.5 during last week trading session to signal a downtrend continuation. iii. The appearance of a reversal set-up in the form of a Triple Top pattern - three peaks moving into the same area @JY156, with pullbacks in between indicates a possible slide in price in the coming week(s) after the price moved below pattern support (key level). iv. In this regard, I have created a new supply niche around JY156.5/157.0 should the price climb in the early hours/days of the new week with the objective of looking for reversal set-ups for a signal. v. Below Key level @ JY156.5 remains a comfortable area to open a short position with the option to add to our existing position at a breakdown/retest of JY155.5. CAUTION: Considering the bullish momentum in the 3 weeks, it is appropriate that we remain open to the possibility of a significant breakout of JY157.5 which shall be enough to negate the bearish narrative... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 350 pips. Risk/Reward : 1:4.5 Potential Duration: 5 to 12days 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
EURUSD | Perspective for the new week | Follow-up detailsWith over 100pips in our direction since my last publication (see link below for reference purposes); we witnessed a successful breakout of the supply zone to set the tone for a potential rally at least in the meantime. It is no news that the USD collapsed against the major pairs during last week trading session, and the catalyst for this scenario is the US inflation as the Consumer Price Index was confirmed at 7% YoY in December - the highest since 1982. In this regard, I still maintain a bullish perspective at least to a 61.8% retracement of Bearish Impulse leg on the weekly chart. Tendency: Uptrend (Bullish) Structure: Breakout | Supply & Demand | Trendline Observation: i. Since hitting bottom @ $1.12 on the 24th of November 2021, we have noticed a gradual bullish momentum as the price continue to find higher lows which culminated in a successful breakout of the Supply zone and Key level @ $1.135 to give the bulls a favourable environment to add to their existing position. ii. Spiced up by poor US data released throughout the week, the price continues to respect the Bullish trendline. iii. Trendline indicated on the chart is the visual representation of a line drawn under pivot lows which reveals the prevailing direction and speed of price action in the last 47 days. iv. The breakout of the key level was met with rejection at $1.148 which gives me a sign that we might be witnessing a retracement of the impulse leg. v. So, with this information; I am looking forward to the completion of retracement around my new demand level cited around $1.12850/$1.135 to join the rally. vi. However, it is worthy to state here that should price decide not to go as far as the new demand level identified then a bullish reversal set up on a lower time frame could be a signal we should be looking out for in the coming week to long... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:3.5 Potential Duration: 4 to 10days 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
GBPCHF Bullish probability ifDaily - Price is stuck in a descending channel, and almost hitting the top of the channel. -> indicating possible reversal if moved impulsively to the downside. 4H - Price is in an ascending channel and on the LTF forming a descending channel indicating reversal if the LTF channel broken higher. 1H - Wait for the break and continuation pattern must proceed, and the reason for that is because the price has moved impulsively downwards, and only an impulse followed up by a correction continuation would indicate further momentum of the reversal.
Long
by GonzeeTrading
EURUSD Bearish reversalHTF - Price has been stuck in a descending channel since June of 2021 in the 4-hour TF. LTF - Price has recently broken HTF structure but formed a weird head and shoulders pattern in an ascending channel, which indicates reversal, + price has moved impulsively inside the HTF structure adding confluences to momentum reversal. Now the only thing we need to wait for is a continuation correction pattern in order to make a trade expecting further downside momentum.
Short
by GonzeeTrading
EURGBP Double descending channelHTF - Market has been stuck in a descending channel since Feb of 2021, almost a year, and just recently broke to the downside, however, I think that market might come back into the pattern for some bullish action. LTF - The market will possibly reverse because the price is stuck just under the HTF descending channel which is a reversal pattern, in another D. channel, therefore possibly reversing its momentum. But a wait for a break to the upside and looking for a continuation correction pattern is required in order to make a trade.
Long
by GonzeeTrading
GBP / USD 1.35754 - 0.07 % SHORT IDEA * PRICE ACTION & STRUCTUREHELLO 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 POUND / DOLLAR PAIR. * The PAIR is currently trading in an descending channel but seems the channel now consolidating in a ascending channel within this structure. - Short term the pair has currently entered an up trend as WE broke above on the 4h chart. - There is a supply zone that the pair is currently testing as we see the formation of a double top in this area. - Looking for SHORT entries on the pair 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
Short
by PULEMokhothu
USOIL 78.87 +0.03% 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 THE USOIL ENERGY. * The ENERGY is currently trading in an ascending channel but seems the channel now consolidating in a BEAR FLAG just above of structure. - Short term the pair has currently entered a consolidation as WE break below on the 4h chart this set up comes into play. - There is a demand zone to look out for on the ENERGY before we continue with the bears, BREAK BELOW will trigger the set up. - Looking for SHORT entries on the pair 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:USOILShort
by PULEMokhothu
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