Normally, I keep my trading and analyses to crypto, but this Dow Jones setup looks too good to ignore. Factoring in all of the bearish signs from fundamental analysis (rising interest rates, rising unemployment, slumping retail sales, and gov't shutdown), it's tough to argue that the stock market will break the previous high.
Triple top formation is possible. I'm...
(This is an update to one published earlier. The rhombus on this chart is bigger than the one drawn on the previous one)
The regular rhombus is a powerful reversal pattern taught by my mentor Rodney Ahenkan (Papa Smurf). I tend to look for it at reversal areas, especially at the pivot lines and support/resistance areas of the RECTANGLE STRATEGY (again as taught...
as price took out a few levels going down new lower highs formed until the most recent high got broke and we got confirmation on the retesting of the zone. price should go to TP 1 and possibly pass it.
AUDJPY has been trading between a nice range since early January.
Potential SELL from 79.50 with stop loss set above 80.00
First Take Profit set at 78.50.
The pair are also trading between an Ascending Wedge Pattern, this indicates a potential reversal
Shooting Star Candle Strategy
The shooting star candle strategy is a very simple but very effective methodology to trade the financial markets. You can trade stocks, Forex, currencies, commodities, futures and even cryptocurrencies across various time frames.
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GBPCHF Rising Wedge has ben broken and correcting
Reccomendation - SELL
1. Look for Correction on Lower time frame and after correction breaks look for sell signals
2. If Price pushes higer to test the Wedge Support now turned Resistance, look for Sell Signals for entries
Trade with care on GBP pairs because of BREXIT
May the Market be...
Bitcoin loves forming V tops and V bottoms. I'm hoping this is the start of the much awaited reversal. Eyes on the prize crossing the 200 week DMA, which is getting lower week by week. Of course there can (and will) most likely be some volatility, but I like where we are headed
As you can see on the chart, there appears to be an inverse head and shoulders pattern that has formed. It has now been followed by two bars mirroring each other to the point that I would think it to be a reversal to turn into a down trend. I'm definitely gonna sit this one out, but what do you think? False inverse head and shoulders or a false two bar reversal?...
Eur/Aud showing continuation of uptrend... except it looks like the bulls are losing power on the hourly chart. MACD is showing strong divergance. This means that price shows higher highs but indicators such as MACD, RSI, Elders Force Index show lower lows. DMI is also showing that the bears are about to take power. I will wait to enter once DMI crosses and ADX is...
Beautiful inverted head and shoulders here..
This is a technical trade, setup looks good with volume supporting to the patterns validity. Safe play is entering upon a break of neckline, or on an s/r flip above the neckline
Distance from neck to head is roughly 20%, putting our target in the low 50's. To the right, there is a conveniently situated VPVR gap...
This market rally has been insane!!! with several consecutive weeks going up nonstop (got to admit it is starting to hurt me a little), but we might see a reversal in the next few weeks. I would NOT say a reversal is imminent as there needs to be a catalyst to trigger a sell-off and the market only seems to be going up based on China-US trade hopes and the Federal...