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Reversalpattern

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
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