- As per my Elliott Wave technical analysis - it looks like the massive impulse wave can be completed and we are now headed to a retracement.
- On the weekly chart we have a shooting star - bearish candle with a long wick ( PIN BAR )!
- If we take a look at the RSI indicator on this chart, we can see a bullish divergence , which is a pretty strong bearish...
Above 200 moving average
Trending up GANN Angle channel
Previous Shooting Star All time high is retest target
Next Fib extension level is 0.78 (second target)
Breaks the 6.30 resistance possible further uptrend to ATH again.
Well, high tide followed by low tide, followed by high tide...
The market always in motion - it is , as Japanese say 'A floating world'
A pin-bar top candle is aptly named Shooting Star in Japanese candle formations.
As we owe the invention of candles themselves to the Japanese, and specifically the shooting star, it brings Japanese ideas of the world.
While there has been much commentary about the US Dollar Index hitting 100.00, we note two things from a technical perspective – the first is a shooting star pattern on the candlestick charts and the second is that the daily RSI has yet to confirm the recent high.
This happens when price makes a new high, but the oscillator does not – it is otherwise known as...
Expecting a bearish movement on AUDUSD with price breaking structure on the 1H. On the DAILY and WEEKLY timeframes a long wick(shooting star candlestick) formed on a major/key level of resistance. Price also broke support and is making a retest
What’s other factors would continue to move palm oil prices?
1. India imports hit 12-months low on sky high prices in CPO. This may led to demand further decline as buyers are price sensitive as it relies on imports for 60% of its needs. Currently, India rely on existing stockpiles and incoming domestic rapeseed crop to meet domestic demand
2. Revision of export...
FCPO declined by nearly 8% on last Friday and closed at 6276 as profit taking took place, but posted 2nd weekly gains after touched on historical high at 7108.
So, what’s make palm oil now the costlier edible oil among the 4 major edible oils?
Global commodities rallied following EU bans certain Russian banks from SWIFT bank payment system which aimed to...
I take short trade here from the following reasons:
1.Bear flag (the last wave before breakout)
3.Supply candle (marked with yellow TL)
4.Bear Shooting star candle
6.Entry the Fib golden zone
7.50,100,200 EMA Weekly just above the price.
Just look nice for me
On the weekly setting, gold has left behind a Shooting Star candlestick pattern, showing signs of indecision following gains since earlier this year.
Ukraine geopolitical tensions cooled into the end of the week, resulting in a long upper wick on the weekly candle.
Further escalation could easily bring back upside momentum in the yellow metal, while cooling...
Daily chart making series of LH- lower highs suggesting price is in its continuation pattern to the downside.
Inner trendline on daily with 3 touches and candlestick reversal pattern infers price is already looking to short.
On the 4HR lookout for more confluence such as MA crossovers, counter trendline break and candlestick pattern which will give an opportunity...
After the Shooting Star we had on a weekly, and the continuation of this ending this week before a long weekend on the NYSE, I believe the short-position could play out well.
The bearish wedge formed has a measured move to a 30K; which is coincident with 2021 heavy support. If we can see a test of 28K to freak people out and a close (weekly basis) above...
Thank you for considering reading my idea. Please note that this is just my opinion, and I'm not saying that this is going to happen.
Note that I'm mid-term bearish on Bitcoin but long-term bullish. See related ideas below. My down candle is color green while the up candle is color red .
Who wants to see a shooting star? Well, just last...
in BTCUSDT weekly timeframe, last week candle closed as we call it "shooting star" candle. this is not a good news because after such candles we usually have a bearish market for some weeks. so watch your long positions.