D1 - Price broke out at the bottom of the daily range. We can look for sells, if this breakout doesn't turn into a false break.
H4 - Price has created lower lows.
H1 - Bearish divergence has formed wait for a double wave correction and once the break out of the most recent trend line happens, look for sells.
D1 - Price is moving at the top of the range and potential bearish divergence forming.
H4 - Price is at the top of the range where we also have a magnet zone. We also have a bearish divergence that has formed. If a reversal doesn't happen here then we may expect the price to move higher and reach the second magnet zone and a reversal to happen from there.
We...
W1 - We can start looking for sells as long as the last high on weekly chart is holding. Also price is near the end of a potential triple cycle.
Bearish divergence between the last two legs of this bullish trend. RSI already heading downwards after an extreme.
D1 - Bearish divergence (red arrows) followed by bearish convergence (blue arrows) which is a...
The chart shows triple bearish divergence on RSI, this is a strong signal for sellers.
The price might go to lower levels to hit RSI support at value 50. After that, if nothing special happen, LTCUSD might create new all time high.
Personally I've closed LTCUSD long trade, however if my assumptions are wrong, I'm ready to get into next leg-up.
Moreover on the...
W1 - We have an amazing resistance created by two cycles which coincides around the 129.60 zone
D1 - Potential bearish divergence is forming.
H4 - We can look for corrections as long as last swing low is holding and go long towards the magnet zone which will be our final target.
We will start looking for sells once the magnet zone (129.60) is reached,
Ideal...
There is a possible correction looming, both RSI and Stochastic showing bearish divergence. There is some resistance at this level with it being testing it 4 times, we are now at the apex of an ascending triangle. The target projected from the triangle measurement is just above the 38.2% FIB level, this are should provide support to a move down before possibly...
NZDCHF seems to be in a range for the past 1 months after the drop prior to that.
Pattern identification
Noticed in the earlier post, there was a potential Bat pattern forming, how that quickly became invalid and now we could be forming a bearish Shark pattern. If rice goes higher than PtC here, then this Shark too becomes invalid.
Shark Pattern to complete...
Rising Wedge + Bear Divergence (Vol/RSI) into R5 yearly pivot
Should breakdown when 3/4 full
Target = 200EMA, kumo support, yearly R2, 50% fib = $30-34
Stop = new AllTimeHigh
Expect RSI to reset <30 if 200EMA is hit
Alternatively, place bids on target instead of risking getting bulldozed shorting the bull trend.
Hello Traders,
Here is something for next week. It has been observed that price on AUDUSD 4 hrs chart has a formed a nice double top with negative divergence on RSI. It looks like a nice short trade opportunity for aggressive traders. Trade levels are mentioned on the chart.
Thank you.
Happy Trading!!!
Exelixis has come to a stop after many months of upward movement, it is now consolidating around 52 week highs, and I am looking for a short opportunity on a large pullback.
Reasons:
- Class A bearish divergence on the weekly & daily chart (RSI, MACDL) + Acc/Dis (Daily only)
- Accumulation/Distribution line has dropped below the 9EMA on the daily chart. The...
AMD has shown no signs of slowing down, until now. After the mixed reviews of Ryzen, which was initially a reason for all the hype around AMD, investors are selling. With even the largest investor dropping 45 million shares at $13.70. This is all as AMD was hitting a near 10 year high, which also happened to be a major resistance/support level.
On the weekly...
Inspired to look at the DAX chart by a friend. I have never traded the DAX and this could be my first.
Nice resistance levels at 10780/800 since the month of Aug
- again resisted at the beginning of the week with a bearish RSI divergence on the H4
- completed a bearish Butterfly pattern at the resistance zone
Those who are looking to trade this could wait for a...
Price has been very much consolidating near 104, but with the bearish divergence building up, additional signals can be seen coming from the evolving head and shoulders pattern. The downside target puts the potential decline (correction) to 101.50 (target is set to 101.60).
The bearish bias is invalidated if price rallies to the previous high near 104.635.
Note...
