CNH JPY Short Suggestion: Trade For Monday 9 Sept.24
This is the Daily chart for the Chinese Yuan & Japanese Yen. You can see following along the trend line how strong the Yuan was until a month or two ago - when it sharply sold off - 50 EMA diving under the 200 EMA creating a 'death-cross' which can signal a trend change. Even the last couple of Daily candles resumed this weakness down.
So, I see the Yuan falling some more and perhaps quite swiftly down to the levels and take-profit levels I have clearly marked.
One thing to be aware of is that the Yuan is heavily oversold at the moment & I see demand coming back into it very soon after this final 'flush-down' plays-out. Then we might trade it back up when I see enough demand coming back into it.
easy_explosive_trader
Chris
Weaknessofthepriceaction
C3.AI: AI = SHORT - wyckoff distribution & bearish divergence1st - Bearish Divergence: RSI & MFI on 1D & 1W chart
2nd - Wyckoff Method: Distribution TR phase C (UTAD TEST) more pronounced in the 4&1H charts.
Analysis:
There seems to be weakness in the stock, and despite the recent highs and uptick in volume the exhaustion can be seen per the TA presented. BUT REMEMBER, the AI craze is still on going and this could be invalidated in minutes if the whales choose to push the price higher.
Targets if you trust the analysis:
Its pretty simple, I use fib retracement levels 21% and 38.2% as targets.
remember to use risk management and positioning!
*THIS IS NOT AN INVESTMENT ADVICE, JUST SHARING MY ANALYSIS AND INTERNAL THOUGHTS TO MYSELF*
SBIC - Resisting 800 levelsSbi card is moving with lower highs and lower lows formation since August 2021.
The stock has broken its important support levels around 800 and is resisting it for the past two weeks.
This week it opened with the gap on the downside and saw follow-up weakness.
Going ahead, the 770- 800 zone would act as a strong resistance for the stock and we could also see it moving towards 600 levels in the coming months, considering its weak price structure.
Updates of GBP/USD: Beware of Manipulation!!!Hello guys, in this technical analysis I found up a another armonic figures a BAT, So, the target is reach at 1.618% of Fibonacci, now, we find up with bearish candlestick pattern and so, it's mean a possible manipulation of this zone, I use my secret Fiboancci called Shark Hunters, well, it's never get us this pattern when we do in the morning a possible buy zone, but it's have a invalid because this is a price consolidated a little, so, don't put any long position in there. Because if you use any indicator as MACD or RSI there show us a bearish divergence, but specially in MACD we see a weakness of the price, and it's a possible go back into the bearish channel.
Also, I add my previously technical analysis of this par!!!