EUR/AUD BEARS ARE STRONG HERE|SHORT
Hello, Friends!
EUR-AUD uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 1.699 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the EUR/AUD pair.
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Short
GBP/AUD BEARISH BIAS RIGHT NOW| SHORT
Hello, Friends!
The BB upper band is nearby so GBP-AUD is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 1.926.
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GOLD SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
We are now examining the GOLD pair and we can see that the pair is going up locally while also being in a uptrend on the 1W TF. But there is also a powerful signal from the BB upper band being nearby, indicating that the pair is overbought so we can go short from the resistance line above and a target at 2,381.890 level.
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USDCAD - Short Trade IdeaHere is my short trade trade for USDCAD.
Price took out trendline liquidity and a swing high on a broader outlook. Now we have reversed, creating a Unicorn model and equal lows as a target. I am waiting for a retracement into this area to confirm a trade. I would look at the lower timeframes at that point to determine if price isn't poised to trade higher.
- R2F
Xauusd Down Trend
XAU/USD, which represents the price of gold in US dollars, is currently exhibiting a bearish trend. The price has been declining steadily from 2406 to 2375, suggesting a downward movement in the market. This downward momentum indicates that sellers are in control, pushing the price lower. Traders and investors monitoring XAU/USD may be observing the trend closely to make informed decisions regarding their positions in the market.
BTCUSD ready for selling#BTCUSD Update..!
The pair already broker the lower time frame market structure and running still in buy pressure. This the good opportunity for entering the sell trade from
above Fvg or OB
Get in with 1M time frame tructure break 1M time frame trend line break and liquid swap. If got liquidity swap the other couple of confirmation are no need.
EURUSD: Are we in a recessionary environment? Hey Traders, in today's trading session we are monitoring EURUSD for a selling opportunity around 1.09500 zone, EURUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.09500 support and resistance area.
Trade safe, Joe.
Lululemon: Downward Dog Days Ahead? - A Wyckoff Distr AnalysisINTRO
I have been sitting on this idea for a while and finally decided to put the pen to the pad. For the past three years, there have been signs that Lululemon's stock may be destined for a decline. This trade idea will explore the potential for a downtrend using Wyckoff analysis, a technical analysis pattern used to identify trends within a market cycle.
The Wyckoff Distribution theory suggests that large institutions subtly distribute their holdings and initiate short positions before a significant price decline. This distribution unfolds in five distinct phases, each with its own characteristics. In this article, I'll describe these phases and analyze how they might be seen in Lululemon's case.
For reference, this is the schematic I will be comparing my LULU case to.
The Setup
The company's story began in 2008 with its founding. Like most companies, it was affected by the 2008 financial crisis and faced challenges in its performance. However, it recovered strongly over the next 3 years, with its stock price increasing by almost 3,700% from its low in 2009 to its high in 2012. From 2012 to 2018, the stock underperformed as its valuation took some time to catch up. During this period, LULU steadily improved its financial performance, attracting the attention of smart investors who began accumulating shares.
Phase A
The distribution phase marks the end of the prior uptrend. Up to this point, buyers have been dominant, but now we see evidence of institutional selling with the preliminary supply (PSY) and the buying climax (BC). The BC indicates the end of the uptrend as institutions freely unload shares. The low created after the BC is called the automatic reaction (AR). This low is important because it represents the lowest price at which institutions are willing to sell their shares. The AR and BC form our distribution channel, and there will be secondary tests (ST) of these ranges.
Phase B
Phase B functions to create momentum in preparation for a new downtrend. During this phase, institutions and large professional interests sell off their holdings and start taking short positions. This is typically marked by low-volume rallies and high-volume declines. Additionally, we may witness signs of weakness (SOW) and upthrusts (UT), which are further tests of supply and demand as institutions assess interest. Note the volume as the stock price advances and declines.
Phase C
Phase C is an optional phase that primarily serves as a test of the remaining demand. You can identify it by the UpThrust After Distribution (UTAD), which is a price move above the trading channel resistance that quickly reverses and closes back within the channel. It is a bull trap – it appears to signal the resumption of the uptrend but in reality, it is intended to trick uninformed break-out traders. It is used to snag additional shares short at elevated prices before a decline. Note the volume spike to create the UTAD and the volume spike to take it away.
Phase D
In Phase D, there is growing evidence that the uptrend is coming to an end. Sellers take control, leading to a clear break of support or a decline below the midpoint of the trading channel after a UT or UTAD. During this phase, there are typically several weak rallies, each marked by the last point of supply (LPSY).
Phase E
The final phase of the cycle is Phase E. It depicts the unfolding of the downtrend; the stock leaves the channel to the downside and supply is in control. This represents a high-probability opportunity to sell short. Subsequent rallies during the newly formed downtrend are quickly washed with selling.
We haven't entered Phase E yet, but the chart is currently aligning well with our expectations. Given that the pattern has taken 3 years to form, it will likely result in a longer-term short. I believe that targeting the 150s is reasonable if the analysis is accurate. I would appreciate hearing your thoughts on this.
JASMY breaking down? Where to buy?As you can see on the daily chart, JASMY is continuing its way down. It looks like an inverted cup and handle with current price breaking below the handle and retesting it.
If further downside occurs, I will expect price to trade within the marked Potential Buy Zone which happens to be around the top of the previous consolidation's range.
I will continue to monitor price and look for opportunities in the PBZ if price makes its way there.
What do you think? Do you agree or disagree? Are you bullish or bearish? Why?
NZDUSD: Bearish Stocks And Potential DownsidesHey Traders, in today's trading session we are monitoring NZDUSD for a selling opportunity around 0.60000 zone, NZDUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.60000 support and resistance area.
Trade safe, Joe.
FAKE BULL SEASON is OVER!As can be seen, the rising trend that took us from the bottom to the new ATH has been broken and according to the Fib levels, it does not appear that the decline will stop before 56K.
My guess is that the decline will stop temporarily at the minimum angle trend level, that is, 50K, but I do not think we will see a new ATH this year.
EURUSD Is Very Bearish! Sell!
Take a look at our analysis for EURUSD.
Time Frame: 8h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 1.091.
Considering the today's price action, probabilities will be high to see a movement to 1.084.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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CHFJPY Will Go Down! Short!
Take a look at our analysis for CHFJPY.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 170.790.
Considering the today's price action, probabilities will be high to see a movement to 169.630.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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GBP/USD SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
It makes sense for us to go short on GBP/USD right now from the resistance line above with the target of 1.274 because of the confluence of the two strong factors which are the general downtrend on the previous 1W candle and the overbought situation on the lower TF determined by it’s proximity to the upper BB band.
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USD/CAD BEARS ARE GAINING STRENGTH|SHORT
Hello, Friends!
We are now examining the USD/CAD pair and we can see that the pair is going up locally while also being in a uptrend on the 1W TF. But there is also a powerful signal from the BB upper band being nearby, indicating that the pair is overbought so we can go short from the resistance line above and a target at 1.378 level.
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EUR_GBP LOCAL SHORT|
✅EUR_GBP is retesting a resistance level of 0.8540
From where I am expecting a bearish reaction
With the price going down but we need
To wait for a reversal pattern to form
Before entering the trade, so that we
Get a higher success probability of the trade
SHORT🔥
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GOLD - Reversal or further correction ?#GOLD #Analysis
Description
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+ GOLD price has reached the current support zone which acted as resistance in the past.
+ We can expect a slight bounce from the current support zone however it doesn't look promising.
+ If the bounce continues we then there is a slight chance of hitting 2470 price.
+ Mostly likely the support will not hold and price can expected to be corrected further with the major support around 2350
+ Minor support is around 2392 which can act as a temporary support for before bouncing back from it.
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Enhance, Trade, Grow
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VectorAlgo
My thoughts are giving me no peace with this ideaMy opinion is that the alt season will be very powerful like in 2017. But it will be so sudden. That no one will understand at first what happened. Why do I think so? I believe that Bitcoin will not grow any more. But in order for there to be fomo on the market, it is necessary to make people buy and buy again. It is necessary for big money. There are more details in my position, which I will attach below
NZDCAD: Bearish Stocks And Potential DownsidesHey Traders, in tomorrow's trading session we are monitoring NZDCAD for a selling opportunity around 0.83100 zone, NZDCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.83100 support and resistance area.
Trade safe, Joe.