We missed a short-selling opportunity / entry after seeing the top resistance level reject price for the 3rd time, forming a triple top.
According to Encyclopedia of Stock Charts, the Triple Top has a 77.59% success rate (to reach green box)
We are looking for a bounce inside that green box / supply zone / strong support, where we will open a long to top of...
I am late on this one. Still a good set up Risk Vs Reward is still in our favour.
Price action is showing reversal signs and RSI is looking to roll soon
Entry/Stop/Targets as per chart. I wanted to publish asap
Sell below 1.4810. Stop loss at 1.4881. Take profit at 1.4693.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.4810 (Fibonacci retracement, Fibonacci extension, bearish channel resistance) and we expect a drop from this level to at least 1.4693 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,5,3)...
The Gold has been trading downwards $ 1268 level. The price tested the level of $1,265.50. According to the 4H time frame, I found hidden bearish divergence and broken trendlines in the background, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities. The first downward target is set at the price of $1,260.00.
Buy above 1.0766. Stop loss at 1.0695. Take profit at 1.0896.
Reason for the trading strategy (technically):
After making its bullish exit of our long term descending resistance-turned-support line, price has started to bounce really nicely above our buying area. We remain bullish above 1.0766 major support (Fibonacci retracement, horizontal overlap support,...
Buy above 1.0766. Stop loss at 1.0695. Take profit at 1.0896.
Reason for the trading strategy (technically):
Price has started to bounce really nicely above our buying area. We remain bullish above 1.0766 major support (Fibonacci retracement, horizontal overlap support, bullish exit) for a push up to 1.0896 resistance (Fibonacci retracement, horizontal overlap...
-Bearish cypher pattern for USDJPY
-Double top formed at the top trendline
-H1 candle has closed below the neck
-Wait for retracement to the neck for entry
-SL above previous High
-TP at bottom trendline
Sell below 86.52. Stop loss at 86.75. Take profit at 85.63.
Reason for the trading strategy (technically):
We remain bearish below 86.52 resistance (Fibonacci projection, Fibonacci retracement) for a drop to 85.63 first (Fibonacci retracement, horizontal overlap support).
Stochastic (21,5,3) is seeing a nice reaction off our 94% resistance level.
Market price has reach the support level which is my entry level for buying the stock market @ 1.0112
and will exit the market level @1.10808 which is my pullback line level.
Calling for all trader for buying the stock entry
@1.10112 option1
@1.09948 option2
@1.09223 option3
Please exit market level @1.10808
