Get started

Technical Analysis

CHF/USD Weekly Forecast: Falling Wedge Breakout Towards TargetMarket Overview: Bullish Reversal in CHF/USD The Swiss Franc (CHF) / U.S. Dollar (USD) currency pair has recently broken out of a Falling Wedge pattern, signaling a bullish trend reversal. This breakout is significant as it suggests the end of a prolonged downtrend and the beginning of a new upward momentum. Traders who capitalize on this pattern could benefit from potential long opportunities. This analysis will cover the chart pattern, key levels, trading setup, risk management, and market sentiment, providing a comprehensive professional breakdown of the CHF/USD price action. 1. Chart Pattern: Falling Wedge – Bullish Breakout A Falling Wedge is a well-known bullish reversal pattern that forms when price action creates lower highs and lower lows, but the slope of the highs is steeper than the lows. This leads to a narrowing structure that suggests sellers are losing strength, paving the way for a bullish breakout. Pattern Characteristics: ✔ Prior Downtrend: The CHF/USD pair was in a sustained bearish trend before forming the wedge. ✔ Converging Trendlines: Price action squeezed into a wedge formation, showing decreasing volatility. ✔ Breakout Confirmation: The price successfully broke above the wedge resistance, signaling a shift in market sentiment. ✔ Retest Possibility: Price may revisit the breakout zone before continuing its uptrend. A breakout from a falling wedge typically leads to a sharp bullish rally, making this a high-probability trading opportunity. 2. Key Technical Levels: Support & Resistance Support Zones (Buying Interest): 🔵 1.0835 – 1.1000: This zone has acted as strong support where buyers stepped in aggressively. 🔵 1.1071 – 1.1095: A short-term support level that aligns with recent price action, making it a critical stop-loss area. Resistance Zones (Profit Targets): 🔴 1.1483 – 1.1550 (Primary Resistance): Price has struggled at this level previously, making it the first target for a bullish move. 🔴 1.1600 (Major Resistance): If the uptrend continues, this level will act as the next major challenge. 🔴 1.1909 (Extended Target): A long-term resistance level where price has historically reversed. 3. Trading Strategy & Entry Setup Now that we have identified the breakout and key levels, let’s design a strategic trading plan. 📌 Entry Points for Long Trades: ✅ Aggressive Entry: Buy at the current price after the breakout, expecting continuation. ✅ Conservative Entry: Wait for a retest of the wedge breakout zone or support near 1.1071 – 1.1095 before entering long. 📌 Stop-Loss Placement (Risk Management): ❌ Stop below 1.1071: This level is a strong support area, and a break below it may invalidate the bullish setup. ❌ Alternative Stop below 1.1000: A safer option for long-term traders to avoid stop-hunting. 📌 Take-Profit Levels: 🎯 Target 1: 1.1483 – 1.1550 (Primary Resistance Zone) 🎯 Target 2: 1.1600 (Stronger resistance where partial profits can be booked) 🎯 Target 3 (Extended): 1.1909 (For swing traders holding positions longer) 📌 Risk-Reward Ratio: A proper Risk-to-Reward (R:R) ratio of at least 1:2 should be followed for efficient trade management. This means: Risking 50 pips to gain 100 pips (or more) for profitable trading. 4. Market Sentiment & Confirmation Signals ✔ RSI (Relative Strength Index): Above 50? Bullish confirmation. Near 70? Overbought zone, potential pullback. ✔ MACD (Moving Average Convergence Divergence): Bullish Crossover? Strengthens buy signal. Divergence? Confirms price momentum. ✔ Volume Analysis: High volume on breakout? Confirms strong buying interest. Low volume? Beware of false breakout. ✔ Fundamental Factors: Swiss National Bank (SNB) Policy: If SNB maintains dovish policies, CHF could weaken, pushing CHF/USD higher. US Federal Reserve Stance: A strong USD could slow CHF/USD gains. 5. Conclusion & Trading Plan 🔹 Summary of Trade Setup: ✅ Bullish breakout from Falling Wedge – high-probability long trade ✅ Retest of breakout zone may offer better entry ✅ Major support at 1.1000 – 1.1071 ✅ Targeting 1.1550 – 1.1909 range 🚀 Final Trading Plan: 📌 Buy CHF/USD above 1.1100 – 1.1150 📌 Stop-loss below 1.1071 📌 Take Profit 1: 1.1550 📌 Take Profit 2: 1.1600 📌 Take Profit 3 (Swing Trade): 1.1909 📢 Pro Tip: Always confirm breakout volume before entering. Monitor economic events affecting CHF & USD. Use proper risk management (1-2% of account per trade). 📊 Final Verdict: 🔥 CHF/USD is in a bullish setup after breaking out from a Falling Wedge. Traders should look for buy opportunities on pullbacks while targeting resistance levels. 🚀
Long
by GoldMasterTrades
EURJPY Weekly Forecast: Triple Bottom Breakout & Bullish Target Overview of the Chart & Market Structure The EUR/JPY daily timeframe chart presents a Triple Bottom Pattern, a powerful bullish reversal formation that suggests a potential shift in market sentiment. This pattern occurs when price tests a key support level three times and fails to break lower, indicating strong buying interest at that zone. Historically, a Triple Bottom leads to a significant trend reversal as sellers lose strength and buyers gain control. If confirmed by a breakout above resistance, this setup could provide a high-probability trading opportunity for swing traders and position traders. Key Chart Components & Price Action Analysis 1. Triple Bottom Formation The three bottoms marked on the chart represent repeated failed attempts by sellers to push the price lower: Bottom 1 (August 2024): The first rejection from the support zone (~155.000) led to a temporary bounce. Bottom 2 (October 2024): Price retested the same level, but buyers stepped in again, preventing a breakdown. Bottom 3 (March 2025): The final test of support confirmed a strong accumulation zone, setting the stage for a potential bullish breakout. In technical analysis, a Triple Bottom is considered a stronger reversal signal than a Double Bottom, as it represents prolonged buying pressure at key levels. 2. Support & Resistance Levels Support Zone (~155.086): This level has been tested multiple times and remains a solid demand zone, where buyers have consistently entered the market. Resistance Zone (~166.000): This level represents the neckline of the pattern, which must be breached to confirm a bullish reversal. Breakout Target (~179.233): If price breaks out above 166.000, the projected target is set at 179.233, based on the height of the Triple Bottom pattern. Trading Strategy & Entry Plan 1. Entry Point – Waiting for Confirmation A buy trade should be initiated ONLY after a confirmed breakout above the resistance level (~166.000). Traders should wait for a daily candle close above this level, preferably with high volume, to confirm the breakout. 2. Stop Loss Placement A stop-loss should be placed below the third bottom (support level) at 155.086 to minimize risk. This placement ensures that if price invalidates the pattern by moving below the support level, the trade is exited early. 3. Profit Target Calculation The measured move technique is applied to estimate the target. The height of the pattern (distance from support to resistance) is projected upward from the breakout point. Target price: 179.233, aligning with historical resistance. 4. Risk-to-Reward Ratio & Position Sizing The risk-to-reward ratio (RRR) for this setup is favorable, making it an attractive swing trade opportunity. Traders should adjust position sizes based on risk tolerance, ensuring proper money management principles are applied. Additional Confirmation Factors 1. Volume Analysis A breakout with increasing volume will confirm strong bullish momentum. Weak volume during breakout could indicate a false breakout, requiring caution. 2. RSI & Momentum Indicators RSI trending above 50 suggests growing bullish strength. Bullish divergence on RSI or MACD would add further confidence to the trade. 3. Retest of Resistance as Support Often, after breaking resistance, price retests the breakout level before moving higher. This could offer a secondary entry opportunity for traders who miss the initial breakout. Potential Risks & Market Conditions to Watch False Breakouts – If price fails to sustain above resistance, the pattern could be invalidated. Macroeconomic Events – Major news events, such as ECB or BOJ policy decisions, could impact EUR/JPY movement. Geopolitical Uncertainty – Unexpected events may cause volatility and deviation from technical patterns. Conclusion – High-Probability Bullish Setup The Triple Bottom Pattern in EUR/JPY is shaping up as a strong bullish reversal setup. If the price successfully breaks above 166.000, a rally toward 179.233 is expected. 📌 Trading Plan Recap: ✅ Entry: Buy above 166.000 (confirmed breakout). ✅ Target: 179.233 (measured move projection). ✅ Stop Loss: 155.086 (below support). ✅ Risk-Reward Ratio: Favorable for swing traders. This setup aligns well with technical and price action strategies, making it an attractive trade idea for the upcoming weeks.
Long
by GoldMasterTrades
GBPUSD Dusting 350+ PIPS in Choppy Waters - Breakout is Brewing?Technical / Chart Analysis: Double Top Formation: The chart clearly exhibits a potential double top pattern around the 1.30564 resistance level. This is a bearish reversal pattern that suggests a potential trend change from bullish to bearish. Breakdown of Uptrend: The preceding price action shows an uptrend, which has now been halted by the double top. Key Support Level: The most crucial level to watch is the support around 1.28642. A confirmed break below this level would validate the double top pattern and signal a potential strong move downwards. Monthly Performance: January saw a +180 pip move, followed by February with a +230 pip gain. This demonstrates the potential for significant profits in GBPUSD through swing trading. Swing Analysis: February's +230 pip move consisted of 3 upward swings and 2 downward swings, highlighting the importance of capturing both upward and downward momentum in this pair due to the Choppy Price Action. Conclusion: FX:GBPUSD is at a critical juncture. The potential double top formation suggests a bearish bias, but confirmation is needed. Traders should closely monitor the key support level at 1.28642 for a potential breakdown and look for LONG Trades on breaking key levels to the Upside What are your thoughts on GBPUSD's potential for swing trading? Do you see a breakdown or a bounce? Share your analysis and comments below!
Long
by blamezak_trades
1
EUR/GBP Weekly Forecast: Double Bottom Pattern, Bullish ReversalOverview of the Chart This is a EUR/GBP daily chart, showcasing a Double Bottom Pattern, which is a classic bullish reversal formation in technical analysis. The pair has been in a downtrend for several months, but recent price action indicates a potential shift in momentum. The double bottom pattern consists of two distinct lows (Bottom 1 & Bottom 2) at nearly the same level, forming a W-shaped structure. This suggests that sellers attempted to push the price lower twice but failed both times due to strong buying pressure at the support zone. As the price starts to rise from the second bottom, the neckline resistance becomes a crucial level to watch. A confirmed breakout above this neckline would validate the pattern and signal a potential bullish rally. Chart Breakdown & Key Components 1. Double Bottom Pattern Explanation The first bottom formed in December 2024, marking the lowest price point where buyers stepped in. The second bottom formed in March 2025, confirming strong demand in the support zone. The pattern suggests bearish exhaustion, as sellers were unable to push the price lower. The neckline at ~0.84778 acts as a key breakout level. Once price moves above it, the bullish reversal is confirmed. 🔹 Why is this pattern important? It signals a trend reversal from bearish to bullish. It attracts buying interest as traders recognize the formation. The measured move suggests a potential target of 0.87307, aligning with previous resistance levels. 2. Key Support & Resistance Zones ✅ Support Zone (0.82249 - 0.82458) This level has been tested twice, making it a strong demand area. Buyers aggressively defended this zone, preventing further downside. A break below this level would invalidate the bullish setup. ✅ Neckline Resistance (~0.84778) This is the breakout level that confirms the double bottom pattern. A strong bullish daily candle closing above 0.84778 would indicate a trend shift. The price may retest this level after breaking out, offering a second entry opportunity. ✅ Major Resistance & Target Areas 0.86251 → The first major resistance zone, where price may face some selling pressure. 0.87307 → The final target based on the pattern projection, aligning with historical resistance. 3. Trading Setup & Execution Plan 🔹 Entry Strategy (Breakout Confirmation) Enter a buy position after the price breaks and closes above the neckline (~0.84778). A retest of the neckline provides a second chance to enter at a better price. Look for high volume confirmation on the breakout for additional confidence. 🔹 Stop Loss Placement (Risk Management) Place the stop-loss below 0.82249, just under the support zone. This ensures protection against false breakouts. Avoid placing the stop too tight, as price fluctuations can trigger early exits. 🔹 Take Profit Levels (Reward Calculation) First Target: 0.86251 (Intermediate Resistance Level) Final Target: 0.87307 (Measured Move Projection) Partial profits can be taken at 0.86251, while runners target 0.87307. 🔹 Risk-Reward Analysis Entry near 0.84778, stop loss below 0.82249, target at 0.87307. This setup offers a risk-to-reward ratio (R:R) of over 3:1, making it a highly favorable trade. 4. Market Sentiment & Potential Scenarios Bullish Scenario (High Probability) ✅ Price successfully breaks above the neckline at 0.84778. Retests the neckline and holds as new support, leading to strong bullish momentum. Moves toward 0.86251 first, then extends to 0.87307. This scenario aligns with technical confirmation & volume breakout strategy. Bearish Scenario (Low Probability) ❌ Price fails to break the neckline and faces rejection. The pair revisits the support zone (0.82249 - 0.82458) for a third test. If the support breaks, it could invalidate the bullish setup, leading to continued downtrend. 5. Final Thoughts & Summary 🎯 ✅ Pattern Identified → Double Bottom, signaling bullish reversal. ✅ Breakout Level → Watch for confirmation above 0.84778. ✅ Risk Management → Stop loss below 0.82249. ✅ Profit Target → 0.86251 (Partial Profit), 0.87307 (Final Target). ✅ Trade Plan → Buy on breakout, retest entry for better positioning. 🔥 This is a high-probability bullish setup! Watch for breakout confirmation before entering a trade.
Long
by GoldMasterTrades
(XAG/USD) weekly Forcast – Double Top Breakdown & Bearish SetupThis detailed technical analysis of Silver (XAG/USD) on the daily timeframe highlights a potential bearish reversal forming through a Double Top pattern. This setup suggests that Silver could be gearing up for a major decline, provided key confirmation levels are met. Let’s break it down thoroughly. 📌 1. Understanding the Chart Pattern – Double Top Formation A Double Top is a bearish reversal pattern that forms after an extended uptrend, signaling that buyers are losing strength and sellers are taking control. 🔹 Key Phases of the Double Top: 1️⃣ First Top (Top 1) Silver initially rallied to a major resistance zone ($34.5 - $35). The price failed to break higher, leading to a correction. This rejection signals heavy selling pressure at this level. 2️⃣ Pullback to the Neckline ($28.5 - $29) After the first peak, the price retraced to a critical support area known as the neckline. This level acts as a decision point—either price bounces or breaks lower. 3️⃣ Second Top (Top 2) – Bull Trap? Silver made another attempt to break through $34.5 - $35, but once again, sellers defended this level. The failure to set a new higher high confirms weakness, forming the second peak. This second rejection adds credibility to the Double Top pattern, increasing the likelihood of a bearish move. 4️⃣ The Crucial Neckline Test The neckline around $28.5 - $29 is the most critical level to watch. A clean daily close below this level would confirm the breakdown and trigger a strong bearish trend. 📍 2. Key Technical Levels & Market Structure 🔴 Resistance Level ($34.5 - $35) – Strong Selling Zone This area has repeatedly rejected price advances, indicating high supply. A breakout above this level would invalidate the bearish setup. 🔵 Support & Neckline ($28.5 - $29) – The Make-or-Break Zone A break below this level would complete the Double Top pattern and confirm the bearish trend. If buyers defend this area, Silver could see short-term consolidation before another breakout attempt. 🎯 Target Price ($22 - $23) – Where Silver Could Be Headed The measured move (distance from top to neckline) suggests a potential drop to $22 - $23. This aligns with historical support zones, making it a reasonable target. 🚨 Stop Loss Area ($35.2 - $35.5) – Risk Management If Silver invalidates the pattern and closes above $35.2 - $35.5, the bearish setup is no longer valid. Traders should cut losses early if price regains bullish momentum. 📊 3. Trading Setup & Execution Plan 🔻 Bearish Trading Plan (Short Entry): ✅ Entry Point: Enter a short position after a confirmed neckline break below $28.5 - $29. Wait for a break-and-retest of this level to confirm the bearish move. ✅ Stop Loss: Place stop loss above $35.2 - $35.5, just beyond the resistance level. This protects against false breakouts and sudden bullish reversals. ✅ Take Profit Targets: Primary target: $24.5 - $25 (first support zone). Final target: $22 - $23 (measured move completion). 📉 4. Market Sentiment & Technical Outlook 📌 Why This Setup is Important: The Double Top pattern is a well-established bearish signal. Price failed to create a new high, showing that buying momentum is fading. The neckline breakdown will confirm that sellers are in control, pushing price lower. 📌 What Could Invalidate This Setup? If Silver breaks and closes above $35.5, it would signal that bulls have regained strength. A strong rally above this level could send Silver towards $37 - $38 instead. 🔎 Final Thoughts – Will Silver Collapse or Hold? The chart suggests a bearish bias, but confirmation is key! A breakdown below $28.5 - $29 would activate the Double Top pattern, leading to a potential drop. If Silver bounces off the neckline, then we might see consolidation or a reversal instead. 🚀 What’s your view? Will Silver break down or bounce back? Share your thoughts below! 🚀
OANDA:XAGUSDShort
by GoldMasterTrades
EUR/USD Weekly Forecast: Rising Wedge Breakdown & Bearish TargetChart Overview: The provided EUR/USD daily chart displays a well-structured Rising Wedge pattern, which eventually led to a significant bearish breakdown. The analysis highlights key levels, including resistance, support, stop loss, and a downside target, all of which contribute to a well-planned trade setup. The market structure suggests a strong bearish continuation, targeting lower price levels based on technical projections. 1. Chart Pattern: Rising Wedge Formation & Breakdown A Rising Wedge is a bearish reversal pattern that forms when price creates higher highs and higher lows, but the slope of the trendlines indicates weakening bullish momentum. This pattern is often a signal of upcoming bearish price action once a breakout occurs. Pattern Breakdown Analysis: The price moved inside the wedge, showing a gradual upward trend with declining momentum. Upon reaching a key resistance level, price faced strong rejection (marked with a red circle). The bearish breakdown below the wedge confirmed the pattern, leading to a sharp decline. A retest of the broken wedge followed before continuing downward. This confirms a classic bearish trend reversal, making it a strong technical setup. 2. Key Levels and Trade Setup: 🔹 Resistance Level (Major Supply Zone) The resistance zone (highlighted in beige) acted as a strong supply area, where buyers lost control. Price reached this resistance multiple times but failed to sustain above it. A bearish reversal initiated from this level, marking the beginning of a downward trend. 🔹 Support Level (Key Demand Zone) The support zone (also highlighted) represents a major demand area where price previously reversed. This level aligns with historical price action, making it a critical area to monitor for potential reactions. 🔹 Stop Loss Placement A stop loss is placed above the previous high within the resistance zone to protect against false breakouts. If price invalidates the breakdown and moves above this level, the bearish setup would no longer be valid. 🔹 Price Target Projection The breakdown suggests a potential drop towards 1.00874, as indicated by the 100% measured move. This aligns with previous historical support, making it a realistic downside target. 3. Trade Execution Plan: How to Trade This Setup? 📌 Entry Strategy: Traders can enter short after confirmation of the breakdown and a potential retest. A sell position can be initiated around the resistance turned support after a pullback rejection. 📌 Stop Loss Strategy: A stop loss should be set above the resistance zone (around 1.12208) to minimize risk. This ensures protection against a bullish breakout invalidation. 📌 Take Profit Strategy: The first take profit target is set at the support level near 1.04498. The final take profit target is at 1.00874, which aligns with the full measured move projection. 4. Conclusion & Market Sentiment 🔸 Bearish Market Bias – The breakdown of the rising wedge confirms strong bearish momentum. 🔸 Key Resistance Held Strong – The price was unable to break above, confirming seller dominance. 🔸 Downside Target Aligns with Previous Support Levels – A confluence of technical signals supports further decline. Final Thought: This chart presents a high-probability bearish trade setup in EUR/USD. The combination of a rising wedge breakdown, clear resistance rejection, and a defined downside target makes it an ideal short-selling opportunity. Traders should watch for price action confirmations and risk management strategies before executing trades. 🚨 Risk Disclaimer: Always apply proper risk management and confirm signals before trading. Market conditions may change, so monitoring price behavior is crucial for trade adjustments.
Short
by GoldMasterTrades
TradeCityPro | ATOMUSDT Restarting Daily Analyses!👋 Welcome to TradeCityPro Channel! Let's get back to our daily analysis routine starting today! From now on, I’ll be sharing daily altcoin analyses again. Today, we’re focusing on one of my favorite coins for futures trading: ATOM. 🌐 Overview Bitcoin Before starting the analysis, I want to remind you again that we moved the Bitcoin analysis section from the analysis section to a separate analysis at your request, so that we can discuss the status of Bitcoin in more detail every day and analyze its charts and dominances together. This is the general analysis of Bitcoin dominance, which we promised you in the analysis to analyze separately and analyze it for you in longer time frames. 📊 Weekly Time Frame ATOM is currently neither in a great position nor in a terrible one. Unlike some altcoins like BNB, SOL, and SUI that have moved towards their highs, ATOM hasn’t made a significant move towards $44 yet. However, it also hasn’t lost its major lows. The strong green candle from the past two weeks bounced off the $3.728 support level, confirming that this level remains significant and won’t be easily lost. But this alone is not a reason to buy. After the candle closed, the price did not make a significant move. If you are holding ATOM (like me, as I have staked ATOM in my wallet), I would exit below $3.728 because there is a high probability of a sharp drop toward $1.824. For buying opportunities, setting a stop-buy order above $5.088 could be an option. We’ll discuss this more in the daily time frame section. 📉 Daily Time Frame After bouncing off the $3.58 support, we started a bullish move but couldn’t reach $14.184. Instead, after getting rejected at $10.434, we formed a lower high and continued the price correction. Following this rejection, we continued forming lower highs and lower lows based on Dow Theory. After breaking $5.665, which was an important support, we experienced a sharp drop, reaching the $3.585 support level. After bouncing, a V Pattern was formed. $4.948 is an important level to watch as it triggers both the V Pattern activation and the trendline breakout. I will only open short positions below $4.337, but I will not sell my coins unless $3.585 is broken, in which case I will exit my holdings. ⏳ 4H Time Frame After getting rejected at $4.948, the price dropped to the $4.424 support level. Since it’s Saturday and the market is relatively slow, we might see range-bound movement around this level. 🔴 Short Position: If $4.424 breaks and RSI enters the oversold zone with increased volume, we could see a short opportunity targeting $4.020. 🟢 Long Position: I am currently waiting and prefer to open a long position on MKR instead. I don't want to waste the $4.948 trigger, so I will wait for a confirmed breakout before entering a position. ✍️ Final Thoughts Stay level headed, trade with precision, and let’s capitalize on the market’s top opportunities! This is our analysis, not financial advice always do your own research. What do you think? Share your ideas below and pass this along to friends! ❤️
Long
by tradecitypro
6
JPY/USD Weekly Forecast – Falling Wedge Breakout & Bullish MoveChart Overview This chart presents a technical analysis of the Japanese Yen (JPY) against the U.S. Dollar (USD) on a daily timeframe, published on TradingView. The setup is based on a Falling Wedge pattern, which has led to a bullish breakout, signaling a potential price rally. Let's break it down step by step. 1️⃣ Identifying the Pattern – Falling Wedge Formation The primary pattern identified in the chart is a Falling Wedge, which is a well-known bullish reversal pattern. Characteristics of the Falling Wedge in this Chart: Two downward-sloping trendlines (black lines) forming a wedge shape. Price makes lower highs and lower lows, but the distance between highs and lows gradually narrows. The breakout occurs when price closes above the upper trendline, confirming a potential uptrend. Key Observations: ✅ The pattern starts forming around September 2024 and continues until December 2024. ✅ A breakout occurs at the end of December 2024, confirming bullish momentum. ✅ After breaking out, the price retests the wedge's upper boundary, acting as new support before continuing upward. 2️⃣ Support & Resistance Zones – Key Price Levels Support Level: The support zone is marked in a beige rectangle at the bottom of the chart. This is where buyers repeatedly stepped in, preventing further decline. The price touched this area multiple times before reversing upwards, making it a strong demand zone. Resistance Level: The resistance zone is identified at the top of the chart (shaded beige area). This level represents previous price peaks, where selling pressure was strong. The price is expected to face some resistance when approaching this zone. 3️⃣ Trend Reversal Confirmation & Bullish Structure After breaking out of the falling wedge, the price has started forming higher highs and higher lows, indicating an uptrend. Key Trend Indicators: ✔ Curved blue dashed line suggests an upward trajectory, confirming a rounded bottom reversal. ✔ Price is following a trendline support, validating bullish sentiment. ✔ Momentum is strong, and buyers are in control after the breakout. 4️⃣ Trading Setup – Entry, Stop Loss & Take Profit This analysis is structured into a trading plan with clear risk management. 📌 Entry Point (Buy Confirmation) Entry is ideal on a retest of the breakout zone or a continuation of the bullish structure. The recent higher low serves as a great point to confirm trend continuation. 📌 Stop-Loss Placement Stop-loss is placed at 0.006465 (marked in blue), below the latest support. This level ensures protection against false breakouts. 📌 Take Profit Target The target is set at 0.007128, aligning with historical resistance. If momentum remains strong, the price might push even higher. 5️⃣ Risk-to-Reward Ratio (RRR) & Trade Justification Risk-to-Reward Analysis: Stop-Loss: 0.006465 (below support) Entry Price: Around 0.006671 Target Price: 0.007128 Risk-to-Reward Ratio: Approximately 1:2.5, meaning for every $1 risked, there's a $2.5 potential gain. Trade Justification: ✔ Falling Wedge breakout is confirmed. ✔ Retest of broken resistance turned support gives an ideal entry. ✔ Bullish trend structure supports the upside move. ✔ Well-defined stop-loss and take-profit levels provide controlled risk exposure. 6️⃣ Final Thoughts & Conclusion 📌 This is a textbook bullish setup based on a Falling Wedge breakout. The combination of pattern breakout, trend structure, and strong support makes this a high-probability trade. 📌 Potential Risks to Watch: If price fails to hold above stop-loss, it could indicate bullish weakness. Major macroeconomic news or fundamental events can shift momentum. 📌 Overall Bias: ✅ Bullish towards the 0.007128 target, as long as the price remains above key support zones.
Long
by GoldMasterTrades
Bitcoin Weekly Forecast | Rising Wedge Breakdown & Bearish MoveIntroduction This Bitcoin (BTC/USD) 1-Day Chart Analysis highlights a critical market development: the breakdown of a Rising Wedge pattern, signaling a potential bearish trend. After reaching a new all-time high (ATH) resistance, BTC has shown weakness, confirming a possible reversal. This analysis covers key levels, trend structure, trading setups, and market psychology for traders looking to capitalize on this move. 1️⃣ Understanding the Chart Structure Rising Wedge Pattern – A Classic Bearish Reversal A Rising Wedge is a bearish technical formation that develops when prices rise within a narrowing range. It typically features: ✅ Higher Highs & Higher Lows: Suggesting bullish momentum, but the price action becomes weaker over time. ✅ Converging Trendlines: Showing a loss of buyer strength as each rally fails to make significant new highs. ✅ Volume Decline: As the wedge matures, volume decreases, confirming reduced buying interest. ✅ Breakdown Confirmation: A sharp drop below the lower trendline validates the bearish move. In this case, BTC followed all the classic wedge characteristics, and its breakdown has initiated a potential major correction. 2️⃣ Key Levels & Market Dynamics 🔵 Resistance Level + All-Time High (ATH) (~$110K-$115K) BTC reached its ATH resistance zone but failed to hold above it. The red arrow indicates the rejection at the top, where strong selling pressure emerged. Bulls attempted multiple breakouts but failed, leading to a reversal. 🟢 Support Zone (~$78K-$80K) – Weak Retest Before Breakdown The price initially bounced off this support but struggled to hold gains. The blue support level highlights a key zone where BTC found temporary stability. A weak rally followed, but the price got rejected again, confirming the bearish trend. 🔻 Major Bearish Target (~$48,920) Using the measured move theory, the projected drop extends to $48,920, a strong historical support. The black arrow points to the expected downward trajectory. 3️⃣ Trading Setup & Risk Management 🔽 Bearish Trade Setup (Short Position Strategy) For traders looking to short BTC based on this pattern, here’s an optimal trade setup: 🔸 Entry Point: Around $85K-$90K (post-retest of breakdown) 🔸 Stop Loss: Above $100K (invalidation of the bearish setup) 🔸 Take Profit Targets: TP1: $75K (minor support) TP2: $60K (psychological level) TP3: $48,920 (final bearish target) Alternative Scenario – Bullish Recovery? If BTC reclaims $100K+ with high volume, the bearish thesis is invalidated, signaling a continuation of the uptrend. A break above ATH ($115K) would confirm new bullish strength. 4️⃣ Market Sentiment & Psychological Factors 📉 Bearish Sentiment Strengthens: Rising Wedges often cause a bull trap, where buyers expect new highs but get caught in a reversal. Current price action suggests sellers are gaining control. ⚠️ Key Risks for Traders: False breakdowns can occur if BTC sees unexpected bullish news. Keeping an eye on fundamental developments (ETF approvals, macroeconomic conditions, etc.) is essential. Conclusion – BTC Heading for a Deeper Correction? Bitcoin’s Rising Wedge breakdown strongly suggests a continued bearish trend. Short opportunities are ideal below $90K, with downside targets near GETTEX:48K -$50K. If BTC regains $100K+, bearish outlook is invalid. 📊 Trading Recommendation: Monitor price action closely and adjust risk management accordingly! Would you like me to tweak any part of this analysis? 😊
BITSTAMP:BTCUSDShort
by GoldMasterTrades
Gold (XAU/USD) Technical Analysis – Next Week Big Move?The daily chart of Gold Spot (XAU/USD) presents a well-structured triangle pattern breakout, a strong uptrend, and a critical resistance zone near all-time highs (ATH). The price action suggests that gold is in a bullish phase but approaching a key decision point where it could either break higher or face a temporary pullback. This analysis provides a detailed breakdown of the pattern, key levels, potential scenarios, and trading strategies for the coming week. 1. Technical Chart Breakdown A. Triangle Pattern Breakout (Bullish Continuation) The chart shows a symmetrical triangle formation, which typically signals a consolidation phase before a major price movement. After a period of accumulation within the triangle, gold broke out upwards, confirming a bullish continuation pattern. This breakout was supported by strong volume and buying pressure, reinforcing the trend strength. B. Trendline & Support Levels (Key Areas for Buyers) A rising trendline has been acting as dynamic support, confirming that the market remains in a bullish structure. Major Support Levels: $3,000 – A psychological support level that may act as a bounce zone in case of rejection at resistance. $2,885 – A well-defined horizontal support level, previously tested multiple times. If the price falls below $2,885, it could signal a trend reversal or a deeper correction. 2. Key Price Levels & Market Sentiment A. Resistance & Target Levels (Where Sellers Might Step In) Primary Resistance Zone: $3,137 - $3,150 This level represents a combination of all-time high (ATH), historical resistance, and a key breakout target. If the price breaks and holds above this zone, it could trigger further upside towards $3,200 - $3,250. However, if sellers dominate at this level, a pullback or correction could occur. B. Stop-Loss & Risk Management Considerations Traders should be cautious around the resistance zone and place stop-loss levels strategically to manage risk. Stop-Loss Suggestions: For Long Trades: Below $3,000 (to protect against fake breakouts). For Short Trades: Above $3,150 (if price rejects resistance and starts a reversal). 3. Trading Strategy for Next Week Scenario 1: Bullish Breakout & Continuation If gold breaks and sustains above $3,137, it will confirm a bullish continuation. Entry Strategy: Look for a retest of the breakout level ($3,100 - $3,137) before entering long positions. Profit Targets: First Target: $3,200 Second Target: $3,250+ Stop-Loss: Below $3,000, to protect against sudden reversals. Scenario 2: Rejection at Resistance & Pullback If gold fails to break $3,137 and forms a bearish rejection candle, it may indicate a short-term pullback. Short Entry Strategy: Wait for confirmation of rejection with bearish price action signals (e.g., bearish engulfing, long upper wick). Downside Targets: First Target: $3,000 Second Target: $2,885 (major support) Stop-Loss: Above $3,150, to avoid being trapped in a false breakdown. Scenario 3: Bearish Reversal (Break Below $2,885) If gold falls below $2,885, it could signal a potential trend reversal. Short Trade Setup: Enter below $2,885, targeting $2,800 - $2,750 in the medium term. Stop-Loss: Above $2,900, in case of a false breakdown. 4. Indicators & Confirmation Signals A. Volume & Candlestick Patterns Watch for high volume during breakouts to confirm strength. Candlestick patterns such as bullish engulfing, hammer (for support bounces), or shooting star (for resistance rejection) can provide strong confirmation signals. B. RSI (Relative Strength Index) & Overbought Conditions If RSI is above 70, it could indicate that gold is overbought, increasing the likelihood of a pullback. If RSI stays above 50 but below 70, it confirms bullish strength. C. Moving Averages for Trend Confirmation 50-day and 200-day moving averages can act as additional support and resistance zones. If the price is above both moving averages, it confirms the bullish trend. 5. Conclusion – What to Watch for Next Week? ✅ If price breaks and holds above $3,137 → Expect continuation towards $3,200 - $3,250. ✅ If price rejects at $3,137 → Watch for a pullback towards $3,000 or $2,885 for re-entry. ✅ If price drops below $2,885 → Expect deeper correction with a shift in trend structure. 📌 Key Takeaway: Gold remains bullish, but traders should watch the resistance level at $3,137 closely for confirmation of a breakout or a possible reversal. Risk management is crucial in case of unexpected market shifts. Would you like me to add more insights using Fibonacci levels or historical trends? 📊🚀
OANDA:XAUUSDLong
by GoldMasterTrades
1
DKNG 1W – Technical and Fundamental AnalysisDKNG shares have broken a rising wedge on the weekly chart, reinforcing a bearish signal. The price is testing the $35.29 level after failing to hold above $36.88. A breakdown below $31.74 could accelerate a decline toward $28.67 and $14.89. RSI indicates weakening bullish momentum, MACD shows a bearish crossover, and EMA 50 and EMA 200 confirm a long-term uptrend but signal correction risks. Fundamentally, DraftKings remains a leader in online gambling, but its stock is sensitive to Fed rate decisions and macroeconomic conditions. The upcoming earnings report could also impact price action. Correlation with the Nasdaq and S&P 500 increases its dependence on overall market sentiment. A confirmed break below $31.74 could lead to further downside toward $28.67 and $14.89. If the price holds above $35.29, a recovery toward $36.88 is possible.
NASDAQ:DKNGShort
by TotoshkaTrades
8
#GPSUSDT is forming a bearish structure📉 Short BYBIT:GPSUSDT.P from $0.02888 🛡 Stop loss $0.02952 🕒 1H Timeframe ⚡️ Overview: ➡️ The main POC (Point of Control) is at 0.03326, marking the highest volume zone and a major resistance above the current price. ➡️ The 0.02952 level acts as local resistance and an ideal stop placement. ➡️ Price BYBIT:GPSUSDT.P has already tested the $0.02888 support — a confirmed breakdown could trigger stronger downward momentum. ➡️ Volume is increasing on the decline, supporting the sellers' pressure. 🎯 TP Targets: 💎 TP 1: $0.02850 💎 TP 2: $0.02810 💎 TP 3: $0.02787 📢 Watch for a clean break of the $0.02888 level — it could be the entry trigger for this short setup. 📢 If price pulls back above $0.02952, the short scenario becomes invalid. BYBIT:GPSUSDT.P is forming a bearish structure — continuation to the downside is expected if support fails.
Short
by MoriartyTrading
CADCHF Bullissh or Bearish ??? Detailed analysisCAD/CHF is currently trading at approximately 0.6150, forming a bearish flag pattern—a continuation signal that typically precedes further downward movement. This pattern emerges after a sharp price decline, followed by a consolidation phase characterized by parallel trendlines. A breakout below the flag's lower boundary could potentially lead to a decline of over 100 pips, aligning with the target price of 0.6000. Fundamental factors support this bearish outlook. The Bank of Canada (BoC) recently implemented a 25 basis point rate cut, reducing the benchmark rate to 2.75%. This move, aimed at stimulating economic growth amid trade tensions and weakened consumer confidence, has exerted downward pressure on the Canadian dollar. Conversely, the Swiss franc continues to benefit from its safe-haven status, attracting investors during periods of global uncertainty. Additionally, Switzerland's robust economic data, including a manufacturing PMI of 51.5 and a 4.0% rise in exports, further bolsters the franc's strength. Technical analysis further reinforces the bearish sentiment. The CAD/CHF pair has been in a steady downtrend, with minor retracements occasionally. Currently, the price is preparing for another retracement aimed at retesting the immediate supply zone. The 4-hour timeframe chart shows that the supply zone falls perfectly between the 76% and 88% Fibonacci retracement levels. The presence of a Fair Value Gap (FVG) and inducement contribute to the bearish leaning of the market sentiment. Analysts have set a target of 0.6051, with an invalidation point at 0.6231. Given these technical and fundamental factors, the CAD/CHF pair appears poised for a bearish breakout from the flag pattern. Traders should monitor key support levels and employ robust risk management strategies, such as setting appropriate stop-loss orders, to navigate potential market volatility. Staying informed about upcoming economic data releases and central bank communications will also be crucial in effectively capitalizing on this trading opportunity.
Short
by AndrewsMarket-Mastery
1
Silver (XAG/USD) Rising Wedge – Bearish Breakdown Setup!A rising wedge is a pattern that typically forms when the price makes higher highs and higher lows, but the upward momentum starts weakening. The narrowing structure of the wedge indicates that buyers are losing strength, and a breakout to the downside is likely. Key Characteristics of the Rising Wedge: ✔ Higher highs & higher lows – but with reduced momentum ✔ Trendline support (lower boundary) & resistance (upper boundary) ✔ Volume decline – suggests a potential reversal Expected Scenario: If the price breaks below the lower trendline, it signals bearish pressure, and Silver could see a strong decline. 2. Key Levels & Trading Setup 📌 Resistance Level ($34.50 - $34.80) The upper boundary of the wedge is acting as strong resistance. Historically, this zone has rejected price action multiple times, indicating sellers are defending this area. 📌 Support Level ($30.20 - $30.50) A major demand zone where buyers previously stepped in. If the wedge breaks down, this is the most likely target for the decline. 📌 Stop Loss ($34.81) Placed just above the recent high and resistance zone to limit risk in case of an unexpected upside breakout. 📌 Target ($30.20) Measured move from the wedge breakdown projects a sharp decline toward the next strong support at $30.20. 3. Trade Execution Strategy 🔴 Bearish Breakdown Scenario If the price breaks below the lower trendline (around $33.00), we expect a strong move downward. 📉 Short Entry: Below $33.00 (after confirmation) 🎯 Target: $30.20 ❌ Stop Loss: $34.81 (above resistance) Confirmation Needed: ✅ Strong bearish candle close below support ✅ Increased volume during breakdown ✅ Retest of broken support turning into resistance 🟢 Bullish Alternative (Invalidation) If price breaks and holds above $34.81, the bearish setup will be invalidated, and a breakout towards $36.00 - $37.00 could be expected. 4. Additional Considerations 📌 Fundamental Factors: Keep an eye on macroeconomic news, Fed decisions, and USD strength, as these impact Silver prices. 📌 Risk Management: Avoid overleveraging and use a proper risk-reward ratio (1:3 or higher). 📌 Market Sentiment: Watch volume trends and confirm breakout or fakeout before entering trades. Conclusion This chart presents a high-probability short trade setup based on the rising wedge breakdown. If the breakdown occurs, Silver could drop toward the $30.20 support zone. However, traders should wait for confirmation before entering to avoid fakeouts. Would you like me to refine this further for a TradingView post? 🚀
OANDA:XAGUSDShort
by GoldMasterTrades
9
CHF/USD – Rising Wedge Breakdown | Bearish Setup The CHF/USD (Swiss Franc to US Dollar) 15-minute chart is currently displaying a classic Rising Wedge Pattern, which is widely recognized as a bearish reversal pattern. This setup signals weakening bullish momentum and an increased probability of a price breakdown. The chart provides a clear sell trade setup, with key levels including entry, stop loss, and target, making it a structured and well-defined opportunity for traders. 🔹 Key Technical Elements on the Chart 1️⃣ Resistance Level (Sell Zone) 📌 Location: Near 1.1350 – 1.1360 📌 Significance: This level represents a strong supply zone, meaning sellers have consistently pushed prices down from this area. Price attempted to break through this zone multiple times but was rejected, reinforcing the bearish outlook. It serves as the upper boundary of the rising wedge, confirming its role in restricting upward movement. Traders should be cautious of any false breakouts above this level before confirming a bearish move. 2️⃣ Support Level (Demand Zone) 📌 Location: Near 1.1295 – 1.1305 📌 Significance: This level has historically acted as a demand zone, where buyers stepped in to push prices back up. However, the formation of the rising wedge suggests weakening demand at this level. Once the price breaks below this support zone, it confirms a bearish trend continuation. 3️⃣ Rising Wedge Pattern (Bearish Setup) 📌 Pattern Characteristics: The rising wedge is a bearish continuation pattern that typically signals an upcoming sell-off. Price moves inside a narrowing upward-sloping range, where buyers lose strength while sellers gradually gain control. The lower trendline (dotted black line) has been providing support, but as price struggles near resistance, a breakdown becomes likely. Once price breaks below the wedge, the pattern confirms a strong bearish move. 📌 Why Is This Important? This pattern indicates that buyers are losing momentum, and a shift toward bearish control is taking place. The expected move is a sharp downward breakout, leading to lower price levels. 4️⃣ Trendline Support (Breakdown Confirmation) 📌 Location: The dashed black line below price action 📌 Significance: This trendline acted as a rising support, keeping price within the wedge. A clean break below this trendline confirms the bearish breakout. The breakdown is expected to be followed by increased selling pressure and higher trading volume. 📉 Bearish Trade Setup (Short Position Strategy) Based on the rising wedge breakdown, traders can consider the following sell trade setup: ✅ Entry Point: Sell below 1.1325 (Confirm breakdown with volume) ✅ Stop Loss: Above 1.1356 (To avoid false breakouts) ✅ Target 1: 1.1295 (First support level) ✅ Target 2: 1.1275 (Deeper downside potential if momentum continues) 🛠 Trade Rationale (Why Take This Trade?) 🔸 Bearish Price Action → Price is rejecting resistance and forming a lower high, signaling weakness in the uptrend. 🔸 Pattern Confirmation → The rising wedge has a high probability of breaking downward, leading to a sharp decline. 🔸 Risk-Reward Ratio → The setup provides a favorable risk-to-reward ratio, as traders can manage risk efficiently by placing a stop loss above resistance. 🔸 Volume Analysis → If selling volume increases upon breakout, the move becomes more reliable. 📊 Market Outlook & Final Thoughts 🔹 Bearish Scenario: If price breaks below 1.1325, expect a strong decline toward 1.1295 and potentially lower. A sharp move downward could accelerate selling pressure, targeting 1.1275 in an extended move. 🔹 Bullish Reversal Risk: If price closes back above 1.1356, the bearish setup is invalidated. Traders should exit shorts if price reclaims the resistance level. 🚨 Final Verdict: Bearish Breakdown Expected! 📉 Short Setup Activated – Targeting 1.1295 🚀 📊 Watch for Volume Confirmation Before Entering!
Short
by GoldMasterTrades
Bitcoin (BTC/USD) Trading Analysis – Rectangle Pattern Breakdown1. Market Overview The BTC/USD chart (1-hour timeframe) illustrates a trendline-supported uptrend that eventually transitioned into a rectangle consolidation pattern before breaking downward. The market displayed signs of buyer exhaustion near the resistance level, leading to a rectangle pattern breakdown, confirming a bearish shift. This analysis will break down the chart structure, key technical levels, potential trade setups, and risk management strategies for traders looking to capitalize on this move. 2. Breakdown of the Chart Structure A. Trendline Breakout & Shift in Market Sentiment The chart initially exhibits an ascending trendline, acting as dynamic support for Bitcoin’s price. As long as BTC/USD remained above this trendline, the uptrend was intact. However, once the price broke below the trendline with strong bearish momentum, it signaled a significant shift in sentiment from bullish to bearish. The breakdown of the trendline also coincided with the rectangle’s lower boundary breakdown, confirming bearish strength. B. Rectangle Pattern Formation (Consolidation Phase) The price oscillated between resistance at $88,500 and support at $86,000, forming a rectangle consolidation pattern. This pattern reflects a period of market indecision where buyers and sellers are in equilibrium. Multiple failed breakout attempts at resistance signaled strong seller dominance, leading to eventual support failure. The rectangle breakdown suggests that bears have gained control and a downward move is likely. C. Breakdown Confirmation & Target Projection The price broke below the lower support of the rectangle ($86,000) with increased selling pressure. The bearish breakout was confirmed by strong red candles with high volume, reinforcing the downside move. The height of the rectangle pattern provides a measured move target of around $83,797, aligning with previous support. The momentum remains bearish, and price is likely to test this level before any reversal attempt. 3. Trade Setup & Risk Management A. Ideal Trade Entry Entry Point: After the price retested the broken rectangle support at $86,000, which now acts as resistance. Confirmation: The rejection from this resistance with a bearish engulfing candle confirmed further downside. Bearish momentum indicators, such as RSI and MACD crossovers, further validated the setup. B. Stop-Loss Placement (Risk Management Strategy) Stop Loss: Placed above the previous resistance zone at $88,969 to protect against false breakouts. Rationale: If price moves back into the rectangle and surpasses resistance, the bearish setup becomes invalid. C. Take-Profit Target & Risk-to-Reward Ratio Target: $83,797, based on the rectangle pattern height projection and key support levels. Risk-to-Reward Ratio: The setup offers a favorable risk-to-reward ratio, ensuring that potential gains outweigh potential losses. 4. Market Sentiment & Future Outlook A. Bearish Continuation Outlook The trendline failure, rectangle breakdown, and bearish candlestick patterns all suggest a continuation of the downtrend. If price fails to reclaim support-turned-resistance ($86,000), further downside is expected. Increased selling volume confirms bearish control. B. Possible Bullish Reversal Scenarios If BTC/USD bounces strongly from the $83,797 target zone, it could indicate buyer accumulation and lead to a bullish recovery. A move back above $86,000 would invalidate the bearish outlook. 5. Conclusion This BTC/USD analysis highlights a bearish rectangle pattern breakdown, reinforced by a trendline break and strong resistance rejections at $88,500. The breakout target is $83,797, where traders should monitor price action for further bearish continuation or potential reversal signs. Traders should approach with caution, set appropriate stop-loss levels, and follow volume trends for confirmation of further price movements.
BITSTAMP:BTCUSDShort
by GoldMasterTrades
JPY/USD Descending Triangle Breakdown – Bearish Trading Setup📌 Overview: Understanding the Current Market Structure This analysis focuses on the JPY/USD pair on the 1-hour timeframe, highlighting a well-defined descending triangle pattern, a classic bearish continuation setup. The price action indicates selling pressure increasing as lower highs form, while support remained relatively stable before ultimately breaking down. This setup suggests a potential trend continuation to the downside, making it a compelling trade opportunity for short-sellers. Let's dive deeper into the technical breakdown, trading strategy, and market expectations. 📊 Technical Breakdown: Chart Pattern Analysis 1️⃣ The Descending Triangle Pattern: A Bearish Signal The descending triangle is one of the most reliable continuation patterns in technical analysis, often leading to a breakdown when support is breached. This chart confirms the pattern through: ✅ Downward Sloping Resistance Line: The price tested this level multiple times but was consistently rejected. Lower highs indicate sellers are dominating and buyers are failing to push higher. ✅ Flat Support Level: The price found strong support at a key horizontal level, bouncing off multiple times. However, each bounce became weaker, signaling buyers losing strength. ✅ Breakout & Confirmation: The final breakdown below support occurred with strong momentum. The price has now turned previous support into resistance, a bearish confirmation. 🔎 Implication: A descending triangle breakout to the downside often results in an extended downward move, aiming for the measured move target based on the triangle’s height. 2️⃣ Key Price Levels & Trading Zones 📌 🔴 Resistance Zone (Upper Triangle Boundary): 0.006700 – 0.006750 This level acted as a strong rejection zone, confirming lower highs. It now serves as a resistance level after the breakdown. 📌 🟢 Support Level (Triangle Base): This level previously held price from breaking lower multiple times. However, with each bounce becoming weaker, it finally gave way. Break & Close below this level confirms the bearish continuation. 📌 🎯 Target Projection (Based on Triangle Breakout): 0.006448 (Final Target) – This level aligns with historical price action and the triangle’s projected move. 📌 🚨 Stop Loss Placement: Above the last swing high (~0.006752) If price reclaims this zone, the bearish outlook becomes invalid. 📈 Price Action & Market Sentiment 3️⃣ Bearish Momentum & Breakdown Confirmation ✅ Lower Highs Indicate Weakness: Buyers attempted multiple recoveries but were consistently rejected at lower levels. This pattern suggests exhaustion in buying pressure. ✅ Breakout Candle Strength & Volume Confirmation: The price broke support with strong momentum and increased volume, confirming sellers’ control. A breakdown without volume is often a fakeout, but this chart shows clear momentum. ✅ Potential Retest Before Further Drop: After a breakdown, price often retests the broken support before continuing lower. A pullback to the resistance zone (~0.006650 - 0.006700) could offer an ideal short entry. ✅ Bearish Trend Confirmation: The price remains below key resistance and continues forming lower lows. The downtrend structure remains intact, reinforcing the bearish sentiment. 📉 Trading Strategy: How to Trade This Setup? 🔹 Entry Strategy: Ideal Entry: Short after a pullback to broken support (~0.006650 - 0.006700). Aggressive Entry: Short immediately on the breakdown if momentum remains strong. 🔹 Stop Loss Placement: Place above last swing high (0.006752) to avoid being stopped out by noise. Ensures protection against sudden bullish reversals or fakeouts. 🔹 Take Profit Targets: ✅ First Target: 0.006500 (Psychological level) ✅ Final Target: 0.006448 (Triangle measured move) 🔹 Risk Management: Use a Risk-to-Reward ratio (RRR) of at least 1:2 for an optimal trade setup. Never risk more than 2% of total capital per trade. ⚠️ Market Outlook & Key Watchpoints 📌 Scenario 1: Bearish Continuation (High Probability) If price retests the broken support and faces rejection, expect further downside. Target remains at 0.006448. 📌 Scenario 2: Fake Breakdown & Bullish Reversal (Low Probability) If price closes above 0.006750, it invalidates the bearish setup. In that case, a bullish move towards 0.006800+ is possible. 📢 Final Thoughts: The bearish breakout is clear, but waiting for a proper pullback before entry is ideal. Volume confirmation is crucial to avoid fakeouts. If support turns into resistance, a high-probability short trade is set up. 🔹 What’s your take on this setup? Will JPY/USD reach its target? Drop your thoughts below! 🚀 #JPYUSD #ForexTrading #TechnicalAnalysis #PriceAction
Short
by GoldMasterTrades