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Trendreversal

USDCAD AT HUGE DAILY SUPPORTI expect to see a bit of congestion around this level of 1.30000 but we are only just coming into it now. Ill be looking for longer term buy trades but not just yet as its not very often we see price spike into these major levels and change direction that quickly.. most traders should know these levels, so do big institutional traders (big banks) and that is where they take advantage of the average. I am starting to talk to far into the future now, but often on big term reversals from these major levels we will see price develop a nice buy trade and give all the right signals but then make a final push down back through the level taking out a heap of stop losses then quickly changing direction into original bias...
Long
by jamison_fx
Trading OXT: Has topped & headed for full retraceDisclaimer: This is not financial advice High leverage trading is all about entries, you need to have patience and to not let fear of missing out drive you into opening rushed positions. Map out your trades in advance and wait for the right entry. Our aim is to capture quick & safe profits, not to predict the future, this is possible only if we plan ahead and wait for a good entry. So if you're nervous and itching to open a position then take a few deep breaths and don't trade! OXT seems to have just completed a bullish impulse wave that started on July 2nd and has finalised corrective wave A at exactly the 61% Fib level. For those unfamiliar with Elliott terminology, A is the first wave of an ABC correction. B is next, which also seems to have started. We will have a confirmation of this as soon as we break out of the wedge marked by the red lines. The first target for B wave is the 50% Fib level (0.49), this is a good spot for some high leverage shorts. Shouldn't it hold then the next level 31% Fib level at $0.579. Once wave B is completed then wave C should started. The target for wave C, estimated based on how deep A has been, is around 0.168. This means that should the current formation (which I plan to trade) be confirmed then the price should almost fully retrace the gains achieve since July 2. Right now I will wait for wave B to form and will be looking for shorts in the 50% Fib area first and 32% next. Entry: 0.49 SL: 0.54 TP1: 0.30 TP2: 0.18
GEMINI:OXTUSDShort
by zerobounds
10
Trend reversal for GBPUSD?Long Trade Idea for GBPUSD. We have arrived at the edge of the diagonal bearish trend-line going back as far as early 2018. If we break here it will be the start of a new bullish trend with more dollar weakening to be expected in the medium to long term. Initial bullish targets will be at the Monthly R1 @ 1.336 with a medium a term target closer to the Monthly R2 @ 1.362. The final target would be in the region of the Yearly R1 pivot @ 1.385. Initial stop loss to be placed @ 1.308
Long
by FXAutomate
EUR/AUD SELL SIGNAL Hey tradomaniacs, welcome to a new free trading-setup. Notice: This is meant to be a preparation for you! As always we will have to wait for a confirmation! EUR/AUD: Daytrade-Preparation Market-Sell: 1,64930 Stop-Loss: 1,65300 Take-Profit: 1,64350 Stop-Loss: 37 pips Risk: 0,5 % - 1% Risk-Reward: 1,60 LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
Short
by Trading2ez
5
GOLD - Using price patterns to time reversals of trends.With the market watching out for Gold to hit the $2000 level, once this occurred and broke higher you have to always be cautious and take a step back before jumping into any longer term trend continuation plays. When new record highs or lows get established in any market that is highly liquid, its good to keep your options open and try and look at the market with also a contrarian point of view as well. To many new and novice traders will just expect prices to keep climbing and jump into the move with no account for strategy, analysis or more importantly a study of price. Looking at Gold, we wanted to keep an open mind and read the price action especially when your looking for counter trend moves as this will lower the probability of a trade but when you are patient and follow the structure of price you can get some good nuggets of information that can really help you time your trade. As you can see on the 1 Hour chart, price was moving up nicely until it formed a bearish 3 drive pattern in the process. This pattern can be a good indicator of price exhaustion especially when you can see these being formed on no less then a 1 Hour time frame. Once we saw the pattern complete, that alone is not enough, we need to be patient and find a lower trend line, preferably with multiple hits registered on the line for if this breaks to the down side as well, this not only gives us good reason to enter the trade short but it allows for greater timing and accuracy of the trade. We would look to place our stop just above the 3rd and final drive high to start with, as we are trading the pattern so there is no need to place it very far away.
OANDA:XAUUSDEducation
by DavidVillagra
XRP Bullish wedge & Trendreversal?Welcome fellow Tradingviewers, In this analyses we are going to show you our view on the current market situation for Ripple . As a lot of our members and followers know, we are usually against buying shitcoins like XRP, but hey when opportunity arises we need to take place in the action. The XRP chart was one of the best looking charts a week ago and below we will describe what we see, saw and plan to do with this cryptocurrency. We will be analysing XRP using a top-down strategy , including candlestick patterns , indicators and price patterns. Monthly : - The last monthly candle closed as a bullish engulfing one. - This was the first bullish sign for XRP in a long time. - The MACD is showing bullish signs (for as far as it is to be seen) Weekly : - The last weekly candle closed as a bullish engulfing . - We can see that we broke out of the bullish wedge . - We closed just above the 50MA - The MACD has formed a bullish divergence and seems to be breaking out at the moment. Daily : - Last 3 daily candles were bullish engulfing candles, demolishing all Ma resistances. - This daily candle is also looking like it is going to close as a bullish engulfing one. - We can clearly see the bullish wedge from this timeframe therefore we present the chart for you from the daily. - Testing the 2800 resistance. (- Possible golden cross in +/- 3 days) In summary: We can see clear distribution against the wedge resistance which lead to this massive price increase. We are now at TP 1 for the bullish wedge , the other TP's can be found around 3K, 3.2K and 3.6K. Bullish wedges are known reversal patterns and often outperform their targets, therefore 4K resistance could be touched in this next month. Dont forget the XRP army, if the FOMO begins, other altcoins keep rising and Bitcoin keeps rising things could go really fast and TA might get difficult. This might be the bottem for XRP atleast for the short term. The monthly close gives XRP bullish momentum for the longer term, which is confirmed by the weekly and Daily timeframe . The XRP chart is one of the most bullish in the crypto space ATM and if you disagree and need us to review a coin, drop them in the comments! This analyses is only intended to share my idea, to educate and entertain you guys. This should not be considered as financial advice. I hope you guys enjoyed this analyses, if you did don't forget to leave a Like! If you want to share your thoughts, please do so in the comments below! Kind Regards, Frank | Forallcrypto
Long
by ForAllCrypto
ETH ready for 0.04BTC? Welcome fellow Tradingviewers, In this analyses we are going to show you our view on the current market situation for Ethereum . There has been a lot going on around Ethereum, Ethereum 2.0 and Defi which has all helped to the current bullish view that a lot of traders have on Ethereum. We will be analysing ETH using a top-down strategy , including candlestick patterns , indicators and price patterns . Monthly: - Bullish engulfing close above the previous stated 3K important resistance. - MACD crossed Bullish. - Now testing the 0.035 Resistance. - Below the 50Ma. (located at 0.04) Weekly: - Last candle closed as a bullish engulfing candle. - We are now well above the 50 and 100 MA. (and seem ready to test the 200MA?) - The MACD is clearly showing a bullish divergence. - The MACD crossed bullish. Daily: - The last daily candles closed as bullish engulfing candles. - We had our support tested and confirmed at 0.03. - We are now well above all MA's. - We have a bullish MACD cross. - Testing the 0.035 resisttance. In summary: The monthly and weekly timeframes suggest that more upwards momentum is coming our way, so the long term is bullish. For this bullish momentum to sustain however, we do need a break and confirmed support at 0.035 (BTC), this resistance is vital to try and reach the 0.04 area. The 0.04 area is key because a lot of strong resistances are coming together: Monthly 50 MA, Weekly 200 MA and the Daily horizontal resistance line. Overtaking the 0.04 resistance and therefore reclaiming the weekly 200 MA would support a bullish trend for the long run. The volume seems to be supporting the bullish view for now so lets see what this month is going to give us! This analyses is only intended to share my idea, to educate and entertain you guys. This should not be considered as financial advice. I hope you guys enjoyed this analyses, if you did don't forget to leave a Like! If you want to share your thoughts, please do so in the comments below! Kind Regards, Frank | Forallcrypto
Long
by ForAllCrypto
UNG may have bottomed...From the chart we see a near perfect hit of a 1.27 extension of an impulse wave in the 11.5 region which may have marked a bottom in Natural gas, I say this because in recent weeks we are not seeing a pattern of lower highs and lower lows take hold. Furthermore there has been aggressive buying in related stocks such as SWN and RRC which may be an early indication of a change in the market trend. Using a Fibonacci trend based timing tool (horizontally w/ regard ot time as opposed to vertically for price) we see had relevance in predicting price reversals (from the 1 marked with a long vertical line in the graph) we are coming up on the 1.27 this Monday, it will be very interesting to see how the next few weeks play out.
AMEX:UNGLong
by TNasr