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Shooting Star

AUDCHF Short at break of structure1) On the weekly chart a nice shooting star candle 2) Break of this upward structure (green line up), is likely a start of bearish move 3) pitchfork indicates we likely see a move towards the median line again 4) This pair is strongly correlated with other other AUD pairs (see related idea), also indicating downward movement is highly probable. You can enter aggressively as shown on this chart, or a more conservative entry would be just below the consolidation area around 0.736. Be aware of the Fibonacci levels for possible take profits.
Short
by Cenotaph
*BREXIT* GBPUSD !Hello Traders, As we are drawing closer to the EU referendum, and a potential BREXIT I would like to post my bias. We have an abundance of confluence supporting a continuation of the overall bearish trend of the GBPUSD. We have the 200 EMA acting as resistance, which has held after being tested on a number of occasions. We are currently at a resistance zone around 1.46840. We have bearish divergence on RSI supporting a move down. We have a bearish flag pattern indicating a possible move down. Can we close today with a shooting star candlestick pattern? This typically indicates a reversal, thus supporting a move down. Please note that I will not necessarily trade this. Feel free to follow, like, share and comment. Instagram: @KashMarkets
by DigitalKM
1
EURUSD SHORT @ BEARISH SHOOTING STAR, COUNTER TRENDLINE BREAKFX:EURUSD Short trade after bearish shooting star and counter trend line break Price retraced from .236 fib level of down AB Swing Bearish Shooting star @ .236 level Bearish Shooting star @ .382 level Ascending Channel Breakout Resistance Below .382 Level USD Strength after G7 Summit TRADE Price @ 1.11843 Stop Loss @ 1.12232 - 10 pip above high of the Shooting Star @ .236 Fib Level Take Profit @ 1.11768 (1.27 fib extension of AB Swing) Risk/Rewards: 2.12
Short
by shomonrobie
NZD/USD 60 min Bearish Head & Shoulders PatternWe have a Bearish Head and Shoulders pattern on the 60 min chart with RSI Divergence. I'm looking for price to come back up and test .6583 level. This correlates with the top of the right shoulder and 50% of the Shooting Star's wick on the Daily chart. The Renko bars also rejected this level. I'm putting my stop just above the swing high. Target one at the first structure level with the 50% Fib level .6517. My second target is the next structure level at the 88.6 Fib .6448, which also correlates with the 50% of the Spinning Top's wick on the Daily. Good luck trading out there.
Short
by ChrisThein
EA finding resistance at 2007 highEA has been in a good uptrend since 2012 and I have often looked at it during this time. However, it is susceptible to deep pullbacks so has never been worth serious consideration. More recently (since the October 2014 low) a more reliable trend has begun to develop. The daily 50sma is now working well as support. Gaps up also have been corresponding with earnings announcements. Unfortunately there is resistance ahead. Yesterday's gap up was a bearish reversal bar (a shooting star) which closed below the 2007 high ($61.62). The next major resistance beyond this is the 2005 high of $71.16. If it were not for these two price obstacles I would consider a small risk buy - but far safer is to wait for the break above $71.16. By then a clearer trend structure should be visible - either as confirmation of a good trend or not. So EA is a stock to reconsider if price breaks the 2005 high.
NASDAQ:EALong
by iAnneTrader