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...
My analysis of this Bearish Crab Pattern still stands, but generally, I'm not optimistic when I see a series of consolidations happen before the completion of the Crab Pattern. Patience is Virtue. Let's see how this trading idea pans out.
The EURUSD is on a Bearish Trend on both Daily & 4-hourly charts. The key resistance level on the Daily chart is at 0.9900, and on the 4-hourly chart, we have a Bearish Shark Pattern that completes within the sell zone(supply zone) at 0.9866. Last Friday, we did an aggressive short on the 1hourly chart based on a potential double top setup that has an RSI...
Ill be monitoring price around the highlighted zone (91.650) early next week to see how price reacts. We should see a bounce at the least which ill be taking long trades to give myself the opportunity to hopefully see price return to the resistance of 95.700. On the daily you can see we have already had one rejection from this support zone, so a nice morning star...
• UBER is reacting today, however, this reaction alone is not good enough to characterize a true bullish reversal; • Today it is doing a Piercing Line candlestick pattern just above the previous support at $27.10 (black line) – a bullish reversal structure; • Although this is a decent reaction, it seems it is too soon to tell if this reaction will last long...
EURUSD completed the upside move to 0,9850 pretty quick. That means, it's probably best to close all long positions and wait for the right moment to enter again. We could see a continuation up but buying right now is probably not the best idea. You should focus on price rejecting the zone. It could take some time until the market gives us a clear move and...
EURUSD started a pullback yesterday and we expect it to continue towards the 0,9850 level. Once the pullback ends, we will focus on short positions again. Buying right now would be considered aggressive and that's why make sure to use less risk!
The price candlestick indicates the price rebound from the MA20 line with a significant price movement due to fresh buying interest on the TANCO. Without volume backed the price uptrend. MACD and OBV indicate a divergence signal hence confirming the price uptrend towards the next price resistance. The price Point of Control (PoC) is 0.295 where a significant...
• QQQ is doing a Bullish Engulfing today, a reversal candlestick pattern; • This pattern appeared just above the support at $275 (June 30 low); • If QQQ loses this support, it’ll just resume the bear trend, and the next support is the $268; • However, if it confirms this Bullish Engulfing it’ll trigger a technical reversal, which might take it to the $290; • The...
Looking to get in a position from around this sell zone I have highlighted. Price has had multiple rejections holding a nice resistance from around this zone and just above where I have a horizontal line. If we can see another spike into this area ill be jumping on short trades!
This morning EURUSD reached 0,9538 after continuing lower, just as expected. The next support level is at 0,9510, followed by 0,9480. Selling at current price levels isn't a good idea and we're also not looking for any long trade opportunities!
At the previous price, the candlestick pattern indicates an accumulative phase without continuous buying pressure and significate volume on the previous trade. With the recent trade, the candlestick closed above the MA20 line without being backed by volume where it's below the MA20 line. The RSI indicators indicate a fresh buying interest backed by a price...
• AMC is still in a bear trend, and there is no reversal sign yet. However, there is a bottom sign on it today, just above a support level (black line at $6.80); • Today’s candlestick pattern is a Bullish Harami, so far, and although it is not the most reliable bottom sign, it appeared in an important support level; • This could make AMC bounce back up to its 21...
This was the ABCD pattern I was talking about on the previous analysis, check link at the bottom.