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Reversalpattern

GBPCHF | Perspective for the new weekSince my last publication on this pair, we witnessed a surge of 170pips in our direction before the bears eventually came in (see link below for reference purposes). Despite the heightened risk of a more disruptive Brexit outcome from the ongoing EU-UK tensions over the Northern Ireland protocol and contrary to expectations of the majority, I do have an underlining feeling that the Pound might sneak to the upside a little in the coming week(s) before the decline resumes again. Hence with the appearance of a Double Bottom structure that is awaiting confirmation, we should anticipate a counter-trend opportunity in the meantime. Tendency: Uptrend (Bullish) Structure: Supply & Demand | Reversal pattern (Double Bottom) | Trendline Observation: i.Since mid-October, we have witnessed price action spiral down to a bus stop around Fr1.22800 a couple of times in the month of November 2021. ii. The visual representation of a resistance trendline drawn over pivot highs reveals the prevailing direction and speed of price action in the last 3 weeks. iii. And since hitting Fr1.22800(twice), I have observed that sellers are meeting strong resistance from the buyers at this zone making this level a Demand zone to reckon with and in addition evidence of a Breakout of Trendline is beginning to happen in the last couple of days. iv. The appearance of an evolving Double Bottom within this Demand zone which has a memory as far back as February 2021 for buying potential might not be a coincidence. v. Double Bottom: Technically, this is a charting pattern that describes a change in trend and a momentum reversal from prior leading price action. vi. Following the major downtrend that lasted 3 weeks, the appearance of a Double Bottom at this juncture signals a reversal and the beginning of a potential uptrend in the coming week(s) especially when a Breakout/retest of Neckline @ Fr1.24000 is confirmed. iv. Even as we await a confirmation which will happen if the price break above the Key level @ Fr1.24000 (Neckline); for me, buying opportunity should present itself above Fr1.23650 with an opportunity to add to our existing position at Breakout/retest of Neckline NB: Please note that this is a temporary counter-trend opportunity within a Bearish perspective... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 150 pips. Risk/Reward : 1:4 Potential Duration: 3 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 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
CHFJPY | Perspective for the new weekThe Swiss have been Bullish in the last 8 weeks and I suspect a temporary correction is evolving with anticipation of a rally continuation in the coming week(s). Therefore, we shall be looking for the completion of the reversal pattern sighted on the Daily chart to take advantage of a counter-trend opportunity this new week. Tendency: Downtrend (Bearish) Structure: Supply & Demand | Reversal pattern (Head & Shoulder) Observation: i. After hitting a peak @ JY125.500 at the beginning of this month, I observed that buyers lost momentum as this is evident in price action afterwards and this is assumed to be "quick sells" from participants who took advantage of the last Bullish run. ii. Since the beginning of the month of November 2021, price continued to find lower highs which evolved into a Head and Shoulder look-a-like structure. iii. Technically, the appearance of a head and shoulders pattern describes a specific chart formation that predicts a bullish-to-bearish trend reversal. iv. Noticing a baseline with three peaks at this juncture in the market, where the outside two are close in height and the middle is highest requires a little more patient before a decision is made. v. Below key level @ JY123.500 remains my yardstick for the bearish expectations; In this regard, we shall be awaiting confirmations for entry if the price falls below the support level @ JY123.500 (Key level) to signal Bearish tendency in the coming week(s). vi. However, it is worthy to state here that the early hours/days of the new week might see price climb to test the Supply level I have identified around @ JY123.500/124.500 to incite further decline. NB: Considering the fact that it is a Bullish trend from a long-term perspective it is appropriate that we remain conscious with locking profits at appropriate zones to avoid unexpected spikes that could incite rally continuation ... 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
3
XAU/USD 1861.035 SHORT IDEA * PRICE ACTION AND STRUCTUREHELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE, HERE'S A LOOK AT POSSIBLE SCENARIOS THAT COULD PLAY OUT ON THE METAL IN THE COMING WEEK. > From the daily time frame we see gold struggling with the descending channel resistance that has already been tested multiple times in the past period. > Should the metal give a patterns at this level reversal pattern at that will be looking for short on the metal as the BEARS will control the market for a bit again as will be looking for a rejection. > Should we break above of this structure looking for confirmations with the bulls for continuation targeting resistance level 2075.00 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:XAUUSDShort
by PULEMokhothu
2
NIO: Most important KEY POINTS to pay attention!Hello traders and investors! Let’s see how NIO is doing today! After our last analysis, NIO went up, as expected, and now we see some weakness sign in the 1h chart. The bullish momentum was broken at the moment it did a lower low yesterday, as evidenced by the red arrow. However, we don’t see a clear lower high yet. Maybe the 21 ema will work as a ceiling for NIO, and it’ll drop from here, doing a new low, and confirming once for all a bear trend. NIO could easily drop more, but the daily chart is looking interesting: NIO just hit the 21 ema in the daily chart, and it seems the price stabilized over there. The recent drop seems to be just a pullback to the ema for now, but NIO must react quickly in this area if it wants to resume the bullish bias. A reversal would occur if NIO defeats today’s high in the next few days, eventually, defeating the 21 ema in the 1h chart too. On the other hand, it must not lose today’s low, or drop too much below the 21 ema in the daily chart, otherwise, it might turn bearish for a while. Now NIO is in a decisive moment, and regardless if it’ll drop or resume the trend, we’ll have our answer soon. Let’s just stick with these key points for now. If you liked this analysis, remember to follow me to keep in touch with my daily updates on stocks and indices! Have a good day.
NYSE:NIO
by Nathan_The_Finance_Hydra
7
GBPCHF short valid 👇✅It's clearly CHF day as this is my third idea on a CHF pair! Using the POW reversal script for this strategy. Trade details for current trade are shown on the chart. Trade has been live since 11:45 UK time and we are using our POW reversal script. We are working the 15M time frame on this strategy. We're looking for the green line which is take profit target. Little red short arrow is entry point and purple line is stop loss. Been a good run over the last few days on this strategy as you will see from the previous trades on the chart. Lets see if it can end the week on a high. As always trade history can be seen at the foot of this trade idea too for full transparency. ------------------------------------------ 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
EURCAD > The Best Place for A Buy Entry!I hope you are feeling generous and loving today to give me a like and leave a comment it will support the creation of new free ideas for you. Analysis on #EURCAD After the market bottomed near 1.4300 it started to make new lower lows which to me confirm e might be turning bullish here and buying is better than selling at this time. if the market move to my trendline support I will then look for a rotation pattern to confirm the market turning bullish before getting in a buy trade Forever grateful for the time you spent here reading my analysis. Check today's analysis below⠀ _____________________________________________________________________________⠀ -Disclaimer: This information is not a recommendation to BUY or SELL. It is to be used for educational purposes only⠀ -Please note this is just a PREDICTION and I have no reason to act on it and neither should you
Long
by TheTradersAvenue
7
GBPUSD > A Possible Head and Shoulders Pattern!!I hope you are feeling generous and loving today to give me a like and leave a comment it will support the creation of new free ideas for you. Analysis on #GBPUSD A Possible head and shoulders pattern might break neckline resistance and move up soon. if the market moves and break the neckline I will then look for a small buy targeting the next level of resistance Forever grateful for the time you spent here reading my analysis. Check today's analysis below⠀ _____________________________________________________________________________⠀ -Disclaimer: This information is not a recommendation to BUY or SELL. It is to be used for educational purposes only⠀ -Please note this is just a PREDICTION and I have no reason to act on it and neither should you
Long
by TheTradersAvenue
9
1INCH at reversalOk, if you watch the chart at daily timeframe you can see the daily candlestick closed as an hammer on the bottom, a clear bullish candlestick however I'm presenting here the 4h chart as more explicative. Beside the reversal candlestick billinger bands are squeezing (not shown here) and Stochastic momentum indicator presents a bullish DIV, moreover VLPR shows there's a good requested over current price, meaning this is going up. On the other side volume is kinda flat... not very promising to be honest, however before sudden movements it is always like this. If you don't have 1INCH this is a good entry point, stop loss at 3.93USDT (my support line), I'd say the current price 4.43 is a good entry price. Good luck
Long
by Shotokhan
EURUSD | Perspective for the new week In the wake of a stronger than expected US labour market report for October 2021, the Euro appear to be taking a bounce from fresh annual lows under $1.1520. Despite citing a Double Top pattern with a successful Breakdown of Neckline confirming a reversal pattern, I am looking forward to taking a "quick" countertrend in the coming week with my eyes still on the long-term expectation of a Bearish momentum evolving. Tendency: Uptrend (Bullish) Structure: Supply & Demand | Reversal pattern (Double Bottom) Observation: i. Since the beginning of September 2021, the Euro recorded a 3.39% drop against the Dollar and this is represented by the prior leading price action (Bearish Impulse leg). ii. And since hitting bottom around $1.15200, the Bearish momentum appears to fizzle out as Buyers find what looks like a Demand level at this zone in the last 6 weeks to incite a Correction phase. iii. It is also appropriate to note here that finding a bottom in a zone ($1.15200 area) that has a memory as far back as 2017 for the demand for Euro might not be a coincidence and seems to be a very good opportunity to take a "quick" countertrend😊. iv. With recent structure and considering the Double Top pattern identified on the Weekly chart, I suspect that this potential correction phase will stall at the Neckline zone to incite a risk of further decline for the Euro. v. Double Bottom: We do have a highly bullish technical reversal pattern forming at this juncture in the market with structure revealing a change in trend and a momentum reversal from the prior leading price action (major downtrend). vi. Even as we await a confirmation which will happen if the price breaks out of resistance level @ $1.16750 (Neckline of potential Double Bottom) which equals the high between the two prior lows; I am willing to take a long position at a break and stay above of $1.16100 with an opportunity to add to the existing position at a Breakout/Retest of Neckline in the coming week(s)... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 150 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.
Long
by darcsherry
8
NZDUSD | Perspective for the new week | Follow-up detailsWe experienced close to 100pips move in our direction following my last speculation on this pair (see link below for reference purposes) and a Breakdown of Demand structure (a level that held price "supported" throughout last month) early in the month of November 2021 insinuates that the Kiwi might witness a risk of further decline in the coming week(s). From a fundamental perspective; a stronger than expected U.S. jobs report might bring the Fed closer to a rate hike which could put further pressure on the NZD/USD in the coming week(s), Let's see! Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Reversal pattern (Double Top look-a-like) Observation: i. After breaking out of Double Bottom Neckline on the 14th of October 2021 (see daily chart ), the Kiwi recorded a 3.42% growth over the Dollar to set the tone for a Bullish momentum in the long term. ii. However, after testing a temporary peak @ $0.72190, the price took a gradual nose dive, leading to a significant Breakdown of Key level during last week trading session. iii. As expected, I stated in my last speculation on this pair (see link below) that we should be getting ready for a possible correction phase of the Impulse leg which might retest the Neckline of the Double Bottom that instigated the previous rally (see daily chart) to confirm a trend continuation setup. iv. The appearance of a highly bearish technical reversal pattern on the chart which looks like a Double Top at $0.72190 & $0.72180 followed by a couple of Breakdowns of $0.71300 in the last week could be a sign that emphasizes the selling pressure accumulating under the Key level. iv. In this regard, I shall be looking out for selling opportunities below Key level with an opportunity to add to my existing position should price Breakdown/retest of $0.70850... Trade consciously!😊 NB: It is very possible that the early hours/days of the new week might see a price climb into the Supply zone cited within $0.71850/0.71550 to incite further decline. Trading plan: SELL confirmation with a minimum potential profit of 120 pips. Risk/Reward : 1:4 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.
Short
by darcsherry
NZDCAD instant short order Hello traders. this time I mapped NZDCAD with a risk reward ratio of 1:6.5 if it is in full accordance with the farthest target. the assumption is that if you risk 2% of the capital, then when the price reaches target 1, you have saved 1:3 if it is according to the plan, the farthest target saves profit is 12% of the capital. this analysis is not an invitation ... please make an entry consideration . and if it is useful, you can like it and share it with friends. thanks good luck
Short
by RMZ4x_RMZFC
USDJPY | Perspective for the new weekThe US dollar appears to have regained bullish traction as we witnessed a bounce back and forth before the price finally broke out of the Key level @ Y130.800 to reveal buyers strength at this juncture in the market. As we all have noticed that the Yen is being sold off against almost every major pair in recent time, and following Higher US bond yields and hawkish Fed expectations the scenario painted here is not a different one at the moment. The present market structure could probably explain what is going on with the Japanese yen as I look forward to a buying opportunity on this one in the coming week. Tendency: Uptrend (Bullish) Structure: Breakout | Supply & Demand | Trendline Observation: I. Since mid-September 2021, the USD recorded a 5.05% growth over the Yen to set the tone for a Bullish momentum in the long term. ii. Despite citing a reversal pattern after hitting a peak at Y114.700 in mid-October 2021; Sellers have been finding it difficult to push the price below Y113.400. iii. Bearish Trendline: A visual representation of resistance line drawn over pivot highs reveals the prevailing direction of price and speed of price in the last couple of weeks. iv. However, the Y113.400 Level has kept price "supported" in the last couple of weeks to suggest a decline in Bearish momentum. v. In this regard, it is obvious to state here that buyers have continued to pick prices up from Y113.400 hereby making this zone a significant demand level in the meantime. vi. Following a Breakout of Key level @ Y113.800 during last week trading session, I shall anticipate a Breakout of Bearish Trendline for signal confirming a rally in the coming week(s). vii. Even as above Key level remain a yardstick for taking a long position, I have identified a "New Demand level" on the chart for trading opportunities should the price plunge... Trade consciously!😊 NB: Considering the reversal pattern identified after hitting Y114.700, It is worthy to state here that a significant Breakdown of Y113.400 should render the narrative invalid hereby welcoming an opportunity to short the pair temporarily (correction phase) at a retest of the Demand zone broken. Trading plan: BUY confirmation with a minimum potential profit of 100 pips. Risk/Reward : 1:4 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
3
USDCNH | Perspective for the new week | Follow-up detailsWe witnessed a 1,000pips run in our direction since my last publication on this pair (see link below for reference purpose) and the confirmation of reversal set-up at the Breakout of Neckline (CNY 6.39500) during last week trading session is the final straw that broke the camel's back for me. Higher US bond yields and hawkish Fed expectations shine the light of hope on the Greenback and we could witness a continued bullish momentum as investors brace for the Fed's meeting next week. Tendency: Uptrend (Bullish) Structure: Breakout | Supply & Demand | Reversal pattern (Double Bottom) Observation: i. It has been a mix of Bearish momentum for the USD since the beginning of this year. ii. Finding a bottom twice at CNY6.36800 within the month of October 2021 - this level in recent time sharing memory for Demand (May 2021) could be an opportunity to take advantage of a short term rally. iii. Double Bottom: The appearance of an extremely bullish technical reversal pattern describing a change in trend and a momentum reversal from prior leading price action may not be a coincidence. iv. And since testing the demand zone the second time, the price continued to find higher highs that culminated in a Breakout of Neckline @ CNY6.39500 on Friday to signify the potential direction majority might be heading in the coming week. v. With this development in place, it will be appropriate that we take advantage of this potential rally at the retest of Neckline. vi. The early hours/days of the new week might witness a further plunge in price to test the Neckline @ CNY6.39500 or below to incite Trend continuation. vii. Hence, above the Neckline remains a comfortable level to take a long position on this pair. NB: Please note that the narrative so far supports a temporary bullish momentum and this is so after putting into consideration the long term downtrend perspective... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 300 pips. Risk/Reward : 1:4 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.
Long
by darcsherry