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Trendcontinuationpatterns

USDCHF | Perspective for the new weekWe scooped a total of 150pips in our direction since my last publication on this pair (see link below for reference purposes) before the rally began and since the beginning of the new month, it has been a choppy session for this pair. Now, the appearance of a Bearish rectangle at this juncture technically insinuates that the USD/CHF might be set to plunge a little lower in the coming week(s). NFP negative data coupled with deterioration in risk appetite in the last days of last week trading session has seen US equities and commodities come under pressure hereby benefitting pairs such as the Swiss. Tendency: Downtrend (Bearish) Structure: Supply & Demand | Trend continuation (Bearish Rectangle) Observation: i. Since on the 25th of November 2021, the price continued to spiral downward to a bus stop around Fr0.91600 on the 30th of Nov 2021. ii. And since hitting a bottom, we have witnessed price moving between a horizontal support and resistance levels (supply and demand) in the last 3 days which transposes into a Bearish rectangle set-up. iii. Technically, the bearish rectangle is a continuation pattern that occurs when a price pauses during a strong downtrend and temporarily bounces between two parallel levels before the trend continues. iv. In this regard, I shall be looking forward to confirmation in the guise of a breakdown/retest of the rectangle's support level to join the decline train. NB: Under the Key level @Fr0.91800 should remain as a yardstick for bearish options in the coming week(s)... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 120 pips. Risk/Reward : 1:4 Potential Duration: 1 to 4days 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
NZDUSD | Perspective for the new week | Follow-up detailFollowing the fulfilment of a 120pips move in our direction (see link below for reference purposes), we witnessed a correction back into our precious key zone @ $0.71000 - a significant zone (Neckline of Double Top pattern on the weekly chart) for sellers with another opportunity to short the Kiwi against the Dollar in the coming week. As the Kiwi continues to trade below $0.70000 after US inflation data, I anticipate a further breakdown of demand level in the coming week after observing the rate at which sellers continue to push the price down into the middle of the rectangle thereby revealing weakness in the value of the Kiwi ahead of US Nonfarm payrolls. Tendency: Downtrend (Bearish) Structure: Supply & Demand | Channel (Bearish rectangle) Observation: i. Price has been caught within a 130pips range since mid - June 2021 to form a Bearish rectangle pattern. ii. The price appears to have paused during a strong downtrend and temporarily keeps bouncing between two parallel levels $0.70500/0.69000 in the last 40days with anticipation of a trend continuation in the nearest future. iii. The appearance of a Bearish rectangle at this juncture in the market might be seen as a bearish continuation pattern with extension into a 61.8/78.6% retracement of Impulse leg on the weekly chart (see weekly chart below for reference purposes). iv. Price action has been at Key level @ $0.71000/0.70000 been at the Neckline of a Double Top pattern cited on the weekly chart (see chart below) is also a feat suggesting bearish possibilities. v. In this regard and considering the bullish expectation in the long term perspective, our confirmation shall remain below Key level to be confident in this trade with opportunities to add position at break down of Demand zone... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:4.5 Potential Duration: 4 to 8days 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
CADJPY | Perspective for the new weekConsidering the long term Bullish perspective ( see weekly chart), I see a correction phase of the Bullish Impulse leg (began on the 21st of April, 2021) happening since the price broke below Y90.000 on the 17th of June 2021. Tendency: Uptrend (Bullish) Structure: Breakout | Supply & Demand | Correction phase Observation: i. The successful Breakout (29th of April 2021) of Y88.000 level which "resisted" price for 48days confirms the strength of the Bullish momentum. ii. Since price found peak @ Y91.100, we have experienced a downward spiral (correction phase) that we are yet to decipher when it will end. iii. A long-term Bullish perspective was confirmed the moment price broke above and rejected the major Support/Resistance zone @ Y85.500 on the 5th of March and 21st of April 2021 respectively. iv. The Breakout of Trendline also coinciding with the Breakout/Retest of major Support/Resistance level has a significant impact on the character of the Bullish momentum. v. In this regard, I anticipate a rejection of the Trendline to spark a rally continuation in the coming week(s) as the area above Key level I @ Y88.200 pronounces Buy window I. vi. Now should the price break below the Trendline in the coming week, another opportunity to buy is spotted on the chart as Buy window II which is right above Y87.000 zone. vii. As soon as rally continuation is confirmed, I look forward to a transition into a Harmonic pattern (AB = CD) with parameters explained below. a. Impulse A-to-B is expected to be in harmony with the potential C-to-D leg. b. The B- to-C leg is expected to fall at 61.8% with the potentials of extending to 78.6% Fibonacci retracement of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext . of the A-to-B @ Y93.000 area. viii. Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 500 pips. Risk/Reward : 1:6 Potential Duration: 12 to 20days 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 financial market (including foreign exchange, commodity trading, CFDs, stocks etc.) involve 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
uptrend continues...fkli-julyas we witnessed some breakout abv the previous high of 1587...now it is likely that the market is going to retest 1620-40... current support : 1587-90... psychological resistance/current resistance : 1600 higher resistance : 1620 -1640... market has a bias towards the upside...therefore trend-continuation trade might have better winning percentage... plan your trade and trade your plan... WARNING : this is juz for reference and not any kind of hint indicating buying or selling preference...
MYX:FKLI1!Long
by HAIDOJO_trading
DUFU tech corporation- top 20 jewel series of malaysia stockstop 20 jewels frm a very popular local bank... fundamental : I don't know... technical : let's look at some price action... I have been a big fan of DUFU since 2018...DUFU has been in uptrend which could be traced back way into year 2015... after "The Big Fall" in mid March this yr, DUFU has rebounded more than 100% frm the low at RM2, and has broken past the previous high of RM5 which was set in end-of-feb this year...and surpassing that number to continue to create a new-high at RM5.60...this is a new historical high for DUFU so far...the expectation is for DUFU to make up higher price but before that, it might retrace back to the previous structure high which now is the support level at RM4.50-5.00...price below that might trigger new round of selling pressure... On the upside, DUFU might juz shoot all the way up to hit the next level high, which is currently, unknown as there is no past record as reference... current support : RM4.50 – 5.00 lower support : RM 3.20 – 3.70 strong support : RM2.00-2.50 resistance : RM5.30-5.60 (juz breaks to record new high) in overall, DUFU is definitely worth watching... WARNING : this is juz a trading idea...trade at your own risk! plz like and share...
MYX:DUFULong
by HAIDOJO_trading
FCPO TRADING : 79) imminent breakout to the upsidethis is trade 79) frm Haidojo trading...fcpo-sept has broken to the upside to test further resistance frm 2560-2630... full steam ahead...! with 2 more days before the exchange date on 16th of the month, so I guesss the price is going to go wild... overhead resistance : 2560 -2630 support : resistance-turn-support 2474-2500 psychological number market is bias to the upside so trend-continuation trade is preferred... WARNING : no hint of buying nor selling, pliz trade at your own risk... **"LIKE" and "FOLLOW" frm you guys are my main motivation to create more valuable contents...**
MYX:FCPO1!Long
by HAIDOJO_trading
FKLI TRADE : 77) imminent upside to retest 1620-1640fkli continues its uptrend, despite having some political issues in the Parliament...which is not suitable to be discussed here...however, for most of South-East Asia's countries, politic cannot be separated from its economy...that's the hardcore facts... current resistance : 1620-1640 support : 1587-1600 strong support : 1556-60 I am no expert, but I am definitely a chart's maniac...hehehe... gud luck and gud trading **PS : as a token of encouragement to motivate me further, I am really in need of some "LIKE" and "FOLLOW" **
MYX:FKLI1!Long
by HAIDOJO_trading
USDCHF | WEEKLY PERSPECTIVELast week kick-started on a Bullish note for the Greenback but later surrendered a major part of its early gains to the Swissy as it breaks down my Key level @ 0.93850. Even though it rallied back up from this Breakdown; price appears to be respecting the Bearish Trendline which has been holding since late May 2020. Tendency: Downtrend ( Bearish ) Structure: Breakout | Trendline Observation: i. Bearish Trendline - My line drawn over Lower highs explains the prevailing direction of price action and suggest a further Bearish bias. ii. Breakdown of my Key level @ 0.93850 mid-week (8th of July) reveals the underlining strength of the Sellers at this juncture which makes this zone a level to look out for in the coming week(s). Trading plan: SELL confirmation with a minimum potential profit of 160 pips. Risk/Reward: 1:3.5 Potential Duration: 5 to 14 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, 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
BASICS TECHNICAL ANALYSIS - TRENDFOLLOW FORMATIONFORMATION ANALYSIS: PRICE PATTERNS AND CHART FORMATIONS A trend setting of technical analysis is formation analysis. In doing so, certain combinations of movement and correction are considered. If such a combination is detected, the trader can try to trade the resolution of the formation. Basically, a different is made between the trend continuation formations and the trend reversal formations. They are often caused by resistance and support lines. Trend continuation pattern: Confirm the strength of a trend. These are, for example, rising / falling triangles. Even flags and pennants (see picture) are seen as a trend continuation.
COINBASE:BTCUSDEducation
by i-like-profit
2618 Sell Pattern USOILUSOIL is seemingly done painting a pullback pattern. It reached 0.618 retracement level of previous bear leg, as well the 0.236 fib extension is pointing to the same level. If this market continues with the recent downtrend, these two levels should attract supply and a break to previous lows can potentially occur. The inside fork's MLH on bear impulse move pivots ABC is also anticipated to attract supply around these levels. This is a pullback trend continuation play with a decent R:R but lower probability. Worth the risk as per me.
TVC:USOILShort
by Zoen_Trieste
7