A simple trade;
Met with daily resistance from the channel's resistance line. The candlesticks are being more than generous this time by showing their act.
A good short, increase the stop loss a little more if you want to be more conservative, avoid any RR below 5.
Don't go for the take profit near the support channel line because the price can bounce back to...
Seems like a Bearish Flag pattern on the horizon. Let's consider the situation.
There are several signs on the Chart telling us that we are going to drop, but market can keep a special surprise for you, and you have to keep that in mind.
Start with first signal which is a Bearish Flag pattern, this signal can work because now is a perfect environment for...
GBPJPY failed to breakout from the zone making three tops that provide sufficient resistance.
Falling was accompanied by another attempt to move up, acting as retracement providing additional space to continue move further down.
Weekly chart provide sign of piercing through lower structure - potential to further down move.
Cumulatively nice opportunity to ride one...
BTC/ showed weakness after breaking multiple trend resistance lines. After the bullish move we saw a few weeks ago where bitcoin broke the longterm trend resistance, everyone was hopeful again. Nevertheless, we are now testing it as support at a much lower pricelevel.
I expect the bear trend to continue during this summer to finally look for Queen trendline.
For our brazilian friends out there in the market.
Bovespa stocks market has just completed a Cypher Pattern on a daily chart. It is also possible to see a double top before it started the movement down.
This might give us a signal that this market will retrace back into 382 Fib retracement (confluence with X point which is previous resistance level) and maybe...
IN OUR PREVIOUS IDEA ON SNP WE STATED THAT THE INDEX CANCELLED DOWNWARD RISK, AS IT TRADED ABOVE 1ST STANDARD DEVIATIONS FROM 1-YEAR AND QUARTERLY MEAN AT ABOUT 197
HOWEVER, MARKET PROVED US WRONG!
PRICE HAS FALLEN BACK BELOW THE KEY LEVELS, THUS IS NOW OPEN TO MORE DOWNSIDE
AT THIS STAGE WE CAN ONLY CONCLUDE THAT THE TRUE CANCELLATION OF DOWNWARD RISK WILL BE...