Tron has confirmed a Hanging Man just above the PCZ of a Bearish Butterfly, it starts to play out I think it will come back down to meet the trend line at the 61.8% retrace as the current move above trend also happens to be a bit overextended.
EURUSD presents a potential shorting opportunity with the Bearish Butterfly Pattern on the 4-hourly chart at 1.1045. This aligns with the backdrop of a weaker bull trading setup observed on its Weekly chart. For those seeking a buying opportunity, consider monitoring the 1-hourly chart at 1.0993, where a potential support trading setup might offer an entry for...
NZDUSD presents a Bearish Butterfly Pattern on the Daily Chart, tempting many traders to consider shorting. However, a note of caution: ensure the candle breaks and closes above the PRZ (red box) for confirmation before proceeding. My strategy leans towards prudence, awaiting further validation through the Bearish Shark Pattern on the 1-hourly chart at 0.6219....
Similarly to around the same time last year when USDJPY was at these levels, it had developed a 3 Line Strike at the PCZ of a Bearish Harmonic, and if it goes like last year, this will result in at least a few months of downside on this pairing. There is also some Bearish Divergence formed on the RSI at this level. Additionally, there is a much bigger Macro...
GBPUSD currently exhibits a Weaker Buy signal, accompanied by a 5-week long consolidation phase. Trading Decision Dilemma: The month-long consolidation prompts a crucial decision: Will it be a buying or selling opportunity? Buying Opportunity: For those inclined towards a buying stance, watch for the completion of the Bullish Butterfly Pattern...
The overall trend on GBPUSD continues to be bullish, making it an attractive option for buyers. Long Trade Scenario: Daily Chart: A potential Bullish Shark Pattern nearing completion at 1.1937 suggests a buying opportunity. Short Trade Considerations: Personally, I'm inclined towards a shorting opportunity. Two potential setups catch my...
This is an update and continuation of this previous setup: EURUSD has reached the full target of the Bearish Butterfly it formed a few months ago and is now sitting below the lows of the range and is back below the macro trend line. There are a few options one can go with now: take full profits, take partial profits, or hold for a macro break down to the big...
Costco has formed a Bearish Butterfly that lines up with the 0.786 retrace and is testing the zone for the second time with PPO Bearish Confirmation Arrows on both tests, PPO Bearish Divergence, and MACD Hidden Bearish Divergence. This looks like it could be setting up to revisit the lower half of the range.
EURJPY is trading at the HOP level of a Bearish Butterfly while Bearishly Diverging on the MACD and printing a Bearish PPO Confirmation Circle just a few days ago as it broke the 21-day SMA. If it continues on this path, I'd expect the EURO to lose most if not all of the 2023 gains it's made against the Japanese Yen.
🐻 Weekly Chart: The overall setup on EUR/USD points to a Weaker Bear trend. 📉 This means there's potential for downward movement in the coming weeks. ⏳ Patience is Key: While we wait for the perfect entry point, keep a close eye on the lower timeframes for a shorting opportunity. 🧐 📈 Lower Timeframes: Look for price action signals and confirmation on the lower...
The NASDAQ100 is currently sitting at the 0.886 and 1.618 PCZs of big Bearish Shark and Bearish Butterfly patterns as the indicators hover around the overbought zones; we don't exactly have much confirmation yet that these PCZs will hold, but it seems like it wouldn't be a bad idea to position against the QQQ early on via some SQQQ monthly calls and perhaps...
⏳ This week marks my last opportunity to go short on EURUSD. The Weekly Chart shows a violation of structure, forming higher highs and higher lows. 🦋 A Bearish Butterfly setup is visible on the Daily Chart, pending confirmation with a candle close at 1.1195 or below. 💪 Aggressive traders, like me, may choose to wait for a market retest to the previous resistance...
The previous .786 entry got stopped out at much lower prices with a tight stop and now we are showing potential for reversal again at the 1.272 Fibonacci Extension and PCZ of Potential Bearish Butterfly as the RSI goes well above the last overbought reading. Given the scenario, I'd say it's worth trying again with a stop above the next Fibonacci extension.
There is a Bearish Butterfly on HUT 8 Mining with Bearish Divergence on the CAD pairing and it suggests that we may pull back to try to test old resistance as support before continuing higher later.
There is Bearish Divergence on both the RSI and MACD at the PCZ of a Bearish Butterfly, and there will hardly be any support until we reach the 1.618 Fibonacci Extension down at 18627JPY, but from the looks of it, it will likely be a very fast drop followed by an even faster recovery, but in the meantime the JPY could gain some strength.
There is a Head and Shoulders pattern that has formed at the PCZ of a Bearish butterfly; it is also breaking down the trend line of a Bearish Dragon and the likely target seems to be $129.
FX:GBPAUD forms a reversal pattern at the base and support of the lateral range of 1.86094. The implementation phase of the set-up leads to the strengthening of the currency pair to 1.88950. The technical pullback begins, which may reach the retest of SMA-200. The price is inside the range. From the support we see active price strengthening towards resistance....
My Bias for Dollar Appreciation started on 14 Oct 2021; it has been right after all. The leading trade I'm looking at is a buying opportunity on the 1-hourly chart, left and might keep my final target open and observe the candlestick pattern movement when it approaches its new resistance level. If you are looking for a counter-trend move, I've something for you....