A Bearish Bat pattern forms in the GBPJPY Range Bar chart which is great news for countertrend traders. This is so because the GBPJPY it's pretty much on a sideway movement on the higher timeframe. Furthermore, it seems to respect the resistance level on the 1-hourly chart.
GBPUSD has a Bearish Shark setup, if you are a trend trader you can wait for the market check back at 1.3604 for a shorting opportunity within the sell zone.
Hello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ A dramatic session for the EUR/USD has seen the market jump substantially higher following the European Central Bank's announcement (ECB). A closure over critical price...
Hello everyone. I just wanted to bring this to your attention. There's a very high probability WTI will pull back significantly. As illustrated above, I believe Crude is almost completing the final wave 5 of what I believe is a wave 1 of a much larger sequence. The wave 5 is a complex, one called ending diagonal. If I was long on oil futures I would be closing my...
BINANCE:FLUXUSDT is another hype crypto that is probably another scam. Regardless, the chart shows a technical setup that can return 28% once confirmed by breaking above the ascending triangle reaching a target of $2.168. At the same time, we see a unique RSI pattern. There are three lows in price aligning with three lows in RSI which I have marked with vertical...
My brother, which doesn't trade crypto, "What do you think of FTT"? My reacation was one of "great another .000044 "shib-coin" to advise on; rather, quite the opposite. BTC will rebound shortly, when it does keep an eye on FTT. I predict 97.00-100.00 by April2022. Currently, that means doubling your money in 5 months. This is more of a "Move off of XRP", which...
The idea is pretty self explanatory, however I’d like to highlight how oversold the 1W RSI level is, especially paired with a bullish divergence. For those who’ve seen my previous ideas - 33,000-34,000$ was a range I expected for days. I believe we are in a year long bullish consolidation (30,000-60,000$) range and we will see another expansion to the upside. Cheers!
To cut a long story short, I am current erring on the side of bearishness with all 3 indices: DJ, NQ and the S&P500 breaking below the 200 day moving average (MA) last week. The market looks toppish and some technical damage has been done. A short term rebound is possible this week as we are seeing a possible bullish divergence on the RSI. However, I will not...
* Here We discuss about the "Small Triangle Breakout". • Discuss:- If you look at the 2 hour chart, here you will see a small triangle pattern. If we think this triangle will make the first top breakout and according to Fibonacci rules, if 78.60% or 61.8% here makes way for this breakout bullish rejection, then the gold price touches this Fibonacci 78.60% or...
A Type 2 Bullish Shark Pattern has formed in the USDJPY 4hourly chart. A type2 Harmonic Patterns mean that the market has fulfilled at least Target1 of the entire setup. At times we can have a weaker(slower) move towards the upside. On the 1-hourly chart, you could plot a trendline and set an alert to wait for a break and close above the trendline as an...
1. Wish showing some stability around $2.50 2. Possible short covering to make up for losses in other positions by the shorts acting as a floor 3. Possible bottom since the company is trading close to 0.8-1 expected sales for 2022 & possible break-even by the first Q 4. CEO must be announced upcoming week or the next 5. Technicals looking good with multiple...
Well, if you are into the slanted Head and Shoulders pattern, here we have 1 for you. The challenge is to determine the right shoulder. I've plotted the estimation and will check 1st thing in the morning if the pattern fits my rules. What I love about this setup is that it has an RSI Divergence on it. What have you spotted? Comment down below.
Oil chart is looking interesting. There is a lot of media talk of oil being at a seven year high and oil is going to $100 per barrel however from a technical standpoint there is a confluence of headwinds that may see a pull back at ~$90 level within the next few weeks. Perhaps $100 may be on the cards for later in the year but from what I'm currently seeing in...
This has lined up perfectly, as beautiful as clock work. We've seen this very similar set up back in early January of 2018 which was the spark that caused the highs of March 2020. I've posted a trail of posts leading to this point & I finally believe that we have found bottom and will see up from here. This is in a falling triangle which began building from...
Hi guys! 👋🏻 🔔 Brent Oil is completing the 5-wave expanding diagonal pattern on a weekly chart 🔔 There is a high divergence between RSI and price. Hence I believe oil prices will go down, Brent down to $72-70 ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
Hi Traders, STATEMENT Let’s keep diving into the daily time frame to build an expectation of the direction the market could be heading to on the FX:AUDUSD pair. A directional bia s is a powerful tool that can facilitate your trading journey when executing on lower time frames. RATIONALE Analyzing the daily time frame before thinking on taking a trade on...
This Double Bottom is looking pretty promising I set the Fibonacci tool up in logscale and that reveals that we are at the log-scale 88.6% retracement and from the looks of it are Double Bottoming while Forming Bullish Divergence on the RSI and as if that weren't enough we are also very near the PCZ of a Bullish ABCD which is just below us but the context of us...
Deep Gartley Pattern has formed up on GBPJPY and has retested X. Counter-Trend Traders can head in for a shorting opportunity.