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Tweezer Tops

AUDJPY: BreakdownWe are looking at the AUD VS JPY. Lets start with the geopolitical events occurring in Australia at the moment. The fire season has truly been a tragedy this year. With things coming to an end a lot of pessimism is expected to follow through, which will most likely cause the overall bearish sentiment to rise in the AUD economy. In this chart you see a failing bullish cypher in which price broke the initial D point retracement of 76%. This removes the bullish bias and leads to further analysis. Price action went on to break all of its previous structure and took out the initial support, and is now facing a minor pullback in the major swing of the broken cypher CD leg. Price began to rally up after breaking the XA leg, and is currently facing resistance at 71% CD retracements which sets up the potential AB=CD pattern with a potential H&S pattern as confluence. Other confirmations could be the 89% XA retracement confluence or a tweezer top pattern. According to Scott Carney, a 70.7% AB retracement should equal an 141% BC projection, thus creating the AB=CD. A 79% retracement should equal 127% BC projections 89% retracements should equal 113 BC projections This is invaluable information, but does need confirmation. Assuming that price will form an ab=cd pattern is wrong and plain delusional. Confluence such as price action, structure or fibonacci is required. Looking at a potential profit target of 250 pips. I'll keep this chart updated! Please make sure to leave a like and dont forget to comment with any ideas below! Thank you for reading God bless
Short
by MikulovicFOREX
forexTrdr EURUSD - LOWER HIGH DOWNTREND CONTINUEMorning traders, Back into the market after a long weekend in both U.K. and U.S. and we are looking at the continued downtrend of Euro versus US dollar. A series of lower highs continues to form with support around 1.11 area providing a short opportunity of 90 pips. We also have the formation of an Evening star candle or tweezer top if looking on longer time frames. Both point to a bearish pattern forming. Additionally we have heightened tension with Italian government and the EU likely to add negative headlines over the coming trading week. Follow us on tradingview under forexTrdr to get our sample ideas free and immediately - its free to setup a profile and the charting tools and software is easier to use than Metatrader and most broker platforms. Good luck trading from the Team at forexTrdr find us on instagram, twitter and Alexa flash briefings
Short
by forexTrdr
Today's Tweezers Results in Bitcoin Lower HighThe drop today in bitcoin is forming a tweezers pattern for the past two day's price action. This shows a rejection of yesterdays price increase and the drop today also forms a lower high on the longer-term daily timeframe. The candle has not yet closed but this type of price action typically would result in an increased likelihood of a movement to the downside, especially if the price can close as it is currently forming. The closest level is resistance at $3902 and I will seek to enter a short position at $3901. If the position is entered successfully, a stop loss will be placed at $3950, slightly above yesterdays close. Profit target will be $3840, just above the FTA at $3831.
BITMEX:BTCUSD.PShort
by AdaptiveAnalysis
NZDUSD Short DailySell Idea: Entry: 0.68838 SL: 0.69416 TP: 0.67403 This trade was taken based off of S/R levels, candlestick formations, and divergence. Yellow Line = Weekly Level Pink Line = Daily White Line = Monthly The closures over the last 2 days created a tweezer top bouncing off of the Weekly resistance level. This bounce also resembles the beginning of a double-top chart pattern, and shows the strength of the Weekly resistance. Finally, Tenkan-sen and Kijun-sen have a vast amount of distance between them. This is a sign of divergence, as well as the Williams %R scale. I do also hold the belief this could be a setup for a longer-term buy. This is why I have my Fibs on. I'm also using them as TP markers. TP1: 38.2 TP2: 61.8 TP3: 100 *Side Note* My price entries, SLs, and TPs are all based on my broker. Let see what happens!
Short
by jonjaytx
gold short setup with ma crossover and lower lowsLooking at the gold today weekend, it has been in a range for some time now and we've seen that in side the range has appeared another resistance zone. I am looking to short this and take profit down towards the next support zone. Price seems to created a tweezer top on the daily and price has driven down from that resistance zone in lower timeframes such as the 4hr/1hr and price has created a HIGH and LOWER LOW + 30 ma has crossed over which gives me confirmation that the market will drive lower. All this can be seen on the 4hr/1hr very clearly. Trade this with caution and enjoy your weekend.
TVC:GOLDShort
by chiefcapitalfx
1
Bitcoin Daily Update (day 199)I believe that it is possible to beat the market through a consistent and unemotional approach. This is primarily achieved through preparing instead of reacting. Click here to learn more about how I use the indicators below and Click here to get my complete trading strategy! Please be advised that I swing trade and will often hold onto a position for > 1 month. What you do with your $ is your business, what I do with my $ is my business. My most recent Bitcoin Bubble Comparison led to the following predictions: 1 day - 28 days = < $5,750 | bottom prediction: $2,860 by 10/30 Previous analysis / position: Identified resistance cluster from $6,67 - $6,887 that I believed will be the top of this bounce / Short ETH:BTC from 0.03143 | Short EOS:ETH from 0.0252326 Patterns: Descending triangle Horizontal support and resistance: R: $6,539 | Weak S: $6,450 BTCUSDSHORTS: Looks toppy with hanging man and then extended range. Funding Rates: Shorts pay longs 0.0384% 12 & 26 EMA’s (calculate % difference): 12 is being tested for resistance | 26 = -2.05% 50 & 128 MA’s: 50 = -4.28% | 128 = -7.53% Volume: Declining volume while price rises on 1h FIB’s: 0.618 = $6,637 | 0.786 = $6,414 Candlestick analysis: Daily doji | 4h bearish engulfing tweezer top Ichimoku Cloud: 4h cloud providing resistance. Thick cloud with flat top says it will be strong from $6,500 - $6,750 | Add this to the resistance cluster mentioned in yesterday’s post TD’ Sequential: Daily on a green 4. Top on the 4h 9 mentioned yesterday. Visible Range: Looking back to February when we have continued to test this price makes the most sense and it shows the point of control at $6,514 and a high volume node up to $6,724 BTC’ Price Spreadsheet: 12h = -0.02% | 24h = - | 1w = +1.38% | 2w = -9.98% | 1m = +4.49% Bollinger Bands: A return to the MA at $6,743 is to be expected after bouncing from the bottom band Trendline: At this pace we will test the top of the descending triangle at $7,031 Daily Trend: Chop Fractals: Up = $7,475 | Down = $6,065 On Balance Volume: Moving with price / no div’s ADX: ADX fell below 25 indicating trendless market. Chaikin Money Flow: Bouncing from oversold zones on weekly. Pulling back from overbought zones on daily. RSI (30 setting): W = 48.98 | D = 46.51 Stoch: Daily buy signal is trending up. Summary: I am starting to think that we are going to see the price resist below the original cluster that I was looking at. I would be surprised if we break through that daily doji from yesterday. That is when I expected the rally to $6,700+ Instead we were unable to test $6,660 and now the 4 hour chart is showing serious signs of a top. The high volume sell off followed by the bearish engulfing tweezer top is a strong indication that we will continue down from here. Nevertheless the shorts remain at all time high territory and are showing significant signs of a top themselves. Will be get one more squeeze that takes us to $6,700 - $6,800 or will we sell off from here? I would say it is about 55%:40% and 5% other. Here is my ETH:USD chart. The pale red box is where I want to build my next short position. The dark red boxes are shorts that have been called on this blog. I also have an order set to short EOS:BTC at 0.0007474 and I am 66% entered on my EOS:ETH short at 0.0252326. Click here for my EOS analysis.
BITMEX:BTCUSD.PShort
by Sawcruhteez