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Shooting Star

XRP Bearish short term, Bullish long term!!!Just following up on yesterday's post. 1) I noticed the shooting star (Did you) on the weekly closing, this is a cause for concern for the bulls. 2) We currently got rejected from the major resistance that's been acting as support for the longest time, so breaking through that will require much effort! (godspeed to anyone going long right now). 3) Refer to previous post on price action. 4) We are likely not to go to $0.40 (elliot wave) right away, but it is inevitable and possible after we bounce off $0.20. If you like this idea, please leave a comment or follow Thank you
BITFINEX:XRPUSDShort
by BlacksmithShinobi
Nikkei Struggling At Key Resistance as Revised Coronavirus Data Optimism crept back into the market earlier this week, with market participants speculating that cases of 2019-nCoV may peak by the end of February. However, a revision of the counting methods used to identify infections led to a 15,000 case jump in the Hubei province; with the WHO stating many of these cases date back up to three weeks. This has seen doubt creep back into the market with the Nikkei FOREXCOM:JPXJPY pegging back most of its gains from earlier in the week, after failing to break key resistance at the 24000 handle. Early formation of a shooting star candle, a potential triple-top reversal pattern and RSI divergence highlights exhaustion in the recent uptrend from late August 2019, and could see price begin to pull back to retest the 2020-low (22637) and 38.2% Fibonacci (22525). Break of support & sustained momentum to the downside could see price push towards significant uptrend support ,extending back to June 2016, and confluence with the 61.8% Fibonacci (21509). FOREXCOM:JPXJPY
FOREXCOM:JP225
by dmoss94
USD/JPY at Major resistance level - one to watchUSD/JPY has recently closed on a major resistance level, indicating that there will be a break or bounce around this area. The most recent daily candle is in the form of a 'shooting star' which indicates a bear reversal from the recent bullish trend from the 6th-9th January. This candlestick pattern along with the initial bounce at the resistance area indicates that there will be a bearish reversal in the near future. However I will be watching the candlesticks over the next few days to see a confirmation move, break or bounce. This resistance area also sits on the 50% Fibonacci retracement level between the swing high of 1st October 2018 and the swing low of 31st December 2018 indicating that this is a major resistence zone, a bounce here will be a hard bear - equally a break through at this level will indicate a strong bull. Fundamental analysis: Asias stock prices have recently lowered with Japan's benchmark Nikkei 225 stock index fell by 1.3%, and Hang Seng in Hong Kong was down 0.8%, and China's Shanghai Composite was 0.9% lower. Equally though JPY has been strong through the start of the year even with world anxieties . Apple blaming China for slowing of sales which has prompted a drive of safe haven flows to JPY. Along with this JPY is at a 10 year high against AUD. With strong fundamental analysis on each side at this point of major resistance it is clear that a break or bounce will be a big move. Follow, like, share and keep up to date for following analysis. These are just the ideas of a salmon, nothing more, nothing less. Do not take these ideas for gospel.
by UnknownUnicorn705200
NZDUSD Big Short Opportunity ComingNZDUSD has been in a widening wedge pattern and has formed a shooting star candle on the daily timeframe. These are both signs of a reversal. Multiple confluence list: 1. Daily shooting star with 3rd test of trendline 2. Daily RSI overbought with 4 Hr RSI bearish divergence Entry around 0.66150 with stop above high at 0.66450. TP1 0.65550 TP2 0.64550 This is for educational purposes only. This is in no way intended to be financial advice. I am not a financial advisor.
Short
by csohrab
XAUUSD Down?For the price action, candlestick analysis people out there, The weekly chart shows a Shooting star/Bearish Pin bar on the Weekly chart and a confirmation of it with the week just passed with a weekly candle close below the low of that Shooting star/pin bar. This is a pretty compelling reason to look for sells at least down to that red zone in my opinion. However, It is in a strong bullish uptrend, so it can really continue upwards. And when trading against trend it is hard to say how far we can go but I'm leaning towards looking for sells if the market can break through the red zone it is in, and the green zone as well. Trade at your own risk, Unfortunately, I am not a professional and this is not professional advice, maybe one day it will be, until then use your own analysis as well. PatiencePays
OANDA:XAUUSDShort
by PatiencePays777