Based upon the Monthly, Weekly, and Daily time frame price could potentially pullback to the neckline of the Inverted Head and Shoulders pattern on the Monthly and Weekly time frame. Daily price action shows the previously, price tired to hold above the horizontal resistance turned support and now turned resistance with the candle formation of an Inside Bar break down.
Monthly - Price created a new lower high after previously forming a new lower low. Weekly - Price hit a horizontal area of previous support turned resistance while also testing and rejecting the 0.786 fib level. Daily- Price has confirmed that it is ready to see a potential reversal to the downside.
EURCAD (LONG) Monthly: Price has broken a three month high, forming a new higher-high and a new higher-low. Weekly: Price found new horizontal support at previous horizontal resistance. Daily: Price found new horizontal support at previous horizontal resistance. 4 Hour: Formed Double Bottom at horizontal support w/ Neckline and price has already tested...
XAUUSD (Gold) - Long Monthly, Weekly, Daily: - All three time frames have tested and rejected the ascending trend line, which indicates that price can potentially setup for another expansion - Price formed and Inside Bar Break-Up (Mother Bar + Inside Bar + Breakout Candle = Entry) 4 Hour - I entered a long position because of the candle setup on the Daily...
Price has hit an area of resistance on the Monthly, Weekly, Daily time frame and formed a head and shoulder pattern on the Daily time frame. Price has already tested and rejected the neckline of the head and shoulders pattern on the 4 hour time frame which is ok to short now. Please trade at your own risk as I am just here to simply share my own trading ideas....
Pattern(s): Double Top/XABCD Harmonic Bullish Bat The kiwi is still set to head lower with price continuing to make lower-lows and lower-highs. Last week, price formed a Double Top followed by the Harmonic XABCD Bullish Bat completing at the top of the up move. This indicated that the buyers were losing their strength and the sellers were in control.
Pattern(s): Ascending Channel/Ascending Triangle 1.) Price has completely broken out of the Ascending Channel on the Daily time frame. 2.) Price has fallen below both 89 & 8 MA on the Daily, 4 hour, an 2 hour time frame. 3.) An Ascending triangle formed and was broken on the 4 hour time frame, followed by a horizontal breakout of broken structure to the...
Pattern(s): Rising Wedge/Double Top/Harmonic Bullish Bat Price broke out of the Rising Wedge and formed a Double Top at the top of an up trend. This setup indicates that the AUDJPY is set to start rolling over to the downside. This is strictly for educational purposes so please trade at your own risk. Happy trading.
Price has completed the Bearish Bat pattern with the formation of of a Double Bottom. Price has also broken the 4 hour descending trend line. A pullback to broken structure is safe to take a long position. Note: These are simply my own trading ideas and not financial advice so please do your own research. Happy Trading. :)
A new monthly candle has formed which means price needs to correct itself before going back in it's initial direction. This means a great short opportunity to counter-trend trade. Wait for pullback to short. Happy Trading. :)
I was previously neutral on XRPUSD until I seen a clear break in either direction. Price eventually broke to the upside of the triangle and now waiting for a pullback to go long where the arrow is. Please trade with caution and at your own risk. Happy Trading. :)
As I stated before if price broke below @8,500 it would then be likely to continue to drop. Well, we had a break out of the triangle to the downside so we can short from here.
Price has been stuck in this triangle for a few days. If you don't want to get trapped wait for price to break in either direction then, make your move.
Bitcoin has found some support at @$8,500. There is bullish divergence to go long here as well. Happy trading. :)
I see price retesting the trend line as a potential pullback in which has been broken. Also, if you look left on this weekly time frame there is a "Double Top" indicating a potentially strong bearish move to the downside.
Inverted Head and Shoulders Pattern tells me that there could be a possible bullish move to the upside.