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Reversalpattern

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
USD / JPY 113.750 0.33 % SHORT IDEA * MOMENTUMHELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE, HERE'S A LOOK AT POSSIBLE SCENARIOS THAT COULD PLAY OUT IN THIS WEEK ON THE USD/JPY . * On the DOLLAR / YEN what changed my bias has to be the strong momentum down with the bears, free fall - This changes the plan cause such momentum is the kind of momentum that does not just stop and reverse, 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
2
GBPCAD | Perspective for the new weekPrice action has been a little choppy since it broke below key level @ C$1.70500 and the inability of sellers to break below C$1.68000 in the last 48days gives credibility to the Demand zone indicated on the chart. Current market momentum signals are in alignment with a reversal setup in the short term for the Pound in the coming week with eyes focused on a possible break above the Key level. Tendency: Uptrend (Bullish) Structure: Breakout | Supply & Demand | Trendline | Reversal pattern (Double Bottom) Observation: i. Since the beginning of September 2021, the Pound recorded a 5.19% decline to find a bottom at C$1.67000 area in the last two weeks which is evident on the chart with two consecutive testing of this area. ii. This is easily identified by drawing a line over pivot highs hereby revealing the prevailing direction and speed of price in the last two and half months. iii. It is important we take into consideration that since price test C$1.67000 level, price continued to find higher lows which culminated in a Breakout of Bearish Trendline and Key level (Neckline) during last week trading session. iv. The appearance of a Double Bottom within a zone that has established Demanding power as far back as December 2013 (see weekly and monthly chart) could be a significant clue to go Long in the coming week(s): v. Technically, the formation of a Double bottom pattern after a major/minor downtrend is regarded as a set-up that describes a change in trend and a momentum reversal from prior leading price action. vi. Breakout of the Neckline @ C$1.70500 confirms completion of a reversal set-up that signals the beginning of a potential uptrend. vii. This been said, above key level remains a comfortable area to get involved in a Long position in the coming week... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 400 pips. Risk/Reward : 1:4 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
3
EUR / GBP 0.84738 + 0.81% SHORT IDEA * PRICE ACTION & CONTINUATIHELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE, HERE'S A LOOK AT POSSIBLE SCENARIOS THAT COULD PLAY OUT IN THIS WEEK ON THE EUR/GBP . - In the past week the pair played to the T into the bias of retracing before continuation - Here's where we where last week. - now we are currently trading at 61.8 % fib upon close on Friday. * looking for trend continuation with the bears on this pair. 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
AUDCAD short moving nicely along 🙌POW reversal strategy in use here for this trade. Trade details for current trade are shown on the chart. Working a straight forward 1:1 RR and looking for 39 pip move to hit target. We are working the 15M time frame on this strategy. We're looking for the green line which is take profit target. Little red arrow is entry point and purple line is stop loss. Previous trade can be seen on chart also for reference. As with every idea trade history and log can be seen at the foot of this trade idea too for full transparency. The report box tabs when pressed it shows all you need to know about the strategy performance. You as the viewer of this idea can also do that so go ahead and have a play. ------------------------------------------ I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily. Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way. ------------------------------------------ Please hit the 👍 LIKE button if you like my ideas🙏 Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌 No one likes missing out, do they? Also, see my 'related ideas' below to see more just like this. The stats for this pair are shown below too. Thank you. Darren
Short
by pow_removetheguesswork
1
GBPCAD 1.69890 +0.02 LONG IDEA * REVERSAL PATTERNSHELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE, HERE'S A LOOK AT POSSIBLE SCENARIOS THAT COULD PLAY OUT IN THIS WEEK ON THE POUND CAD. * Looking at a couple of scenarios on the GBP/CAD - completion of the INVERSE H&S ON higher time frames - reversal at 61.8% fib level - LOOKIMG FOR REVERSAL CONFIRMATIONS ON THE PAIR. * looking for trend continuation on this pair. 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
Long
by PULEMokhothu
XAUUSD | Perspective for the new week | Follow-up detailsIt is over 10,000 pips in our direction since my last publication on this pair ( see link below for reference purposes) and it appears the price is at a juncture in the market where a correction phase is anticipated. Right now traders will need to see what happens over the next couple of weeks before having a strong conviction on the yellow metal and this indecision time is expected to be represented on the chart as a correction phase in the coming week(s). In this regard, I envisage that the price of Gold may reverse to downtrend movement provided the support level of $1,850 was finally broken to the downside during last week trading session. Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Reversal pattern (Triple Top) Observation: i. Since the beginning of November 2021, Gold recorded an enormous 6.68% growth to hit a "temporary" peak at $1,877 before the emergence of lower highs on the chart. ii. It appears that the current buying pressure in the market is unable to push the price above $1,870 and this could signal the beginning of a correction phase. iii. The appearance of a Triple Top look-a-like which can be seen on the chart as a formation of three peaks moving into the same zone @ at approximately $1,870, with pullbacks in between can be considered complete after the price broke down pattern support @ $1,850 on Friday, hereby indicating a possible further price slide in the nearest future. iv. With signs of Bearish momentum building around the Key level @ $1,850; the early hours/days of the new week might see a price climb into the new Supply level identified around $1,855/1,865 to incite further decline. v. Below the Key level remains a comfortable zone for my fellow conscious traders with an opportunity to add to our existing position at a Breakdown/Retest of $1,840... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 3,500 pips. Risk/Reward : 1:4 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.
OANDA:XAUUSDShort
by darcsherry
GBPJPY | Perspective for the new weekThe British pound initially tried to rally during the course of the week but turned around to show signs of weakness especially with the formation of an inverted hammer (a bearish trading candle that may indicate that price has reached its peak) on Wednesday. However, zooming out to the larger perspective on daily and weekly time frame, I have observed that price might be going through a correction phase that intends to test Breakout zone @ JY152 to incite a rally in the coming week(s). And with some level of patience, we can take advantage of a Bullish run if it finally happens. Tendency: Uptrend (Bullish) Structure: Supply & Demand | Reversal pattern (Triple Bottom) | Breakout Observation: i.Since the beginning of October 2021, the Pound recorded an enormous 6.04% growth against the Japanese yet but gave up approximately 60% of its gain in the last 3 weeks to settle around the Breakout zone (which is also the Key level) @ JY152 area at the end of last week trading session. ii. In the last four months (between July and October 2021), we have witnessed multiple rejections of JY149 to set the tone for Bullish momentum. iii. After multiple attempts to overcome the Supply zone around JY152, the significant Breakout of JY152 recorded on the 8th of October reveals an emphatic breakthrough for buyers hereby supporting a bullish bias for me. iv. Technically, the appearance of a triple bottom look-a-like is a bullish chart pattern characterized by three equal lows (JY149 area) followed by a breakout above the resistance level (JY152 area). v. This important and strong reversal pattern reveals the strength at which the buyers are taking control of the price action from the sellers. vi. Following the major uptrend that began on the 1st October 2021, it appears price is going through a correction phase that might culminate around a 61.8/78.6% retracement of the impulse leg to incite a Trend continuation. vii. In this regard, I have identified a new Demand level around JY151/152 area for buying opportunities in the coming week(s). viii. At this juncture in the market, I am of the opinion that above the Key level @ JY152 remains a safe have to take advantage of a buying opportunity Caveat: Please note that it is likely that price go much lower if breaking down below the Key level happens in the coming hence it is important that I state here that above the key level remains our comfort zone to buy the Pound... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 500 pips. Risk/Reward : 1:5 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.
Long
by darcsherry