In my analysis of the USDJPY Daily Chart, the Bearish Crab Pattern still stands. At this moment it is a Bearish Crab Pattern checkback, which means it is at its best possible price for interested traders to engage this trade with the best Reward:Risk that is possible that happens on the Crab Pattern. Personally, I'm not that crazy about that because of the...
GBPUSD on its daily chart reversed on the Key Resistance level. Counter-Trend traders could wait for a 3-bar reversal on the dotted blue line. However, that is NOT good enough for me. I will need to see a Double Bottom with an RSI Divergence before I'm interested to engage in the trade. What is the condition you need for you to get on a counter-trend trading...
Banknifty look very bearish a hanging man is created in banknifty and nxt day candle was open below it and close below it which support bearishness. Our target for Banknifty in coming week was .. Target 38815 38550 38106 37574 37347 Sl 39475
Today is the first Friday of the month and we will see the publishing of the non-farm payrolls. This will affect all instruments traded against the USD. We want to see EURUSD with a clean move and better setups throughout the next week. Right now, we are not looking to enter before the news! 0,9710 is an important level and if we see the market rejecting it,...
• QQQ did an Above the Stomach candlestick pattern just above the previous support at $268 (black line); • This candlestick pattern was triggered, and QQQ is trading at its first technical target at the 21 ema; • QQQ didn’t trigger the bullish candlestick pattern we mentioned last week, and the moment it lost the $275, it just went down to...
Basic support and Resistance Anticipating price to push up respecting red support line/zone However if price pushes aggressively down through 162.565, we may want to look for sells to 161.855
Like we said yesterday, the downtrend on EURUSD is still valid and the best trading opportunities will appear as soon as price confirms another downside push. However, it is still early to enter short and expect to see a breakout of the previous low. We are now waiting for the pullback to continue and trick us a few more times. That's why we should reduce the...
Yesterday, EURUSD reached the parity level again. That means, we could possibly see continuation up in the next few days. Right now we won't trade EURUSD as current price levels are not good for entries. We are still in a downtrend on the Daily chart and the best opportunities will be once the market goes back to the downside!
The price gained momentum after crossing over the MA20 line backed by volume due to fresh buying interest on the stock. This will be the beginning of a price rally towards the next price resistance. MACD and OBV indicate a divergence signal, thus, confirming the price momentum towards the next price resistance. To place a bid, use VWAP as a guideline then place...
We have some heavy price action which has recently broke and this could be the sign of XRP climbing upwards to key levels not seen since May. 1) Weekly Trendline - this has been in state since November 2021 - this hasn't been broken since price action in late September (Bullish) 2) XRP has Strongly broken out of 100 day range trading between $0.30-$0.38...
Looking at a potential move to the upside for ETH - price has bounced away from the 1260 support area and now is looking to take on resistance areas such as the 1355 and 1375. Any potential upside on ETH will be short as we look to the HTF which suggests the continuation of the order flow (Bearish) If price was to break these areas, the next level to look to...
After a very definite downtrend, it's now time for a pullback on EURUSD. Right now, we don't have any signals to sell yet. Today, we need to observe and see how it will react between the levels of 0,9850-0,9930. In moments like this, it is very important to show patience and wait for the right signal to enter a trade. The downtrend continuation will be...
Gold/Silver ratio predicts silver should outperform gold. Bearish engulfing candle last month at fibonacci 50%.
EURUSD rejected the sell zone on Friday. Now, we could see the beginning of the next downside move. You can wait for a confirmation which will be a breakout of 0,9731. However, selling right now is not yet confirmed as we can easily see price going above 0,9854. The direction is still to the downside and we are only looking to sell!
The Inverted Hammer candlestick formation occurs mainly at the bottom of downtrends and can act as a warning of a potential trend reversal. After a long downtrend, the formation of an Inverted Hammer is bullish because prices hesitated to move downwards. Sellers pushed prices back to where they were at the open, but increasing prices shows that bulls are testing...
Potential Piercing Line on the weekly bouncing off support. Closed above the 50% of the previous week's body. The Daily finished with a Shooting Star. Recently, This candle can funtion in two different ways. 1. Bulls lost out and bears brought price back down. More bearish movement. 2. A test of new highs followed by bulls pushing backing up and going...
To those who trade based on currency correlation, this is one setup you have to look at. On the surface, the NZDJPY and NZDUSD both have a Bullish Shark Pattern on the 1-hourly chart, but if you look closely at the 4-hourly chart, you will be able to see the future of these two pairs differs from one another. On the NZDJPY, the Shark Pattern is more direct, in...
Counter-trend traders do take note, if you are looking for a trend-reversal trade, it might not be the time yet. What I've spotted is a potential Bearish Flag Pattern, the Flag Pattern confirmation will happen when the candlestick break and close below 0.5560, so I say, "Hold your horses!" Let's see what pans out. Check out the related ideas at the bottom to...