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Technical Analysis

usdjpy reversal signal at retest highAfter a 1 hour variation of an evening star during the London session this morning, I was alert during the New York session to see if price would be strong enough to push beyond its latest high; especially after a bullish engulfing. Price merely closed off with some buy exhaustion only to followed by a doji. This set-up looks like a false break of a major resistance level which is why I decided to take advantage of the retest during the best time of the day. Although the dollar yen is still overall bullish, there are sellers coming in to keep price from pushing higher. I've shorted the highs, no lower low yet except for intraday 5min. which is my entry point. Stop loss just above the high.
Short
by DesharedPierreJr.
USDJPY high around 143.800The dollar has been in a weak uptrend for the past few hours so I decided to take advantage of some indecision at a high. Price presented a shooting star on the 30minute chart as well as a strong bearish engulfing on the 5min at the exact area needed for a short. This area is exactly where price closed at then was immediately rejected on last Friday (6/23). This retest could be early considering NY session is hours away. Also the lower timeframes haven't began creating lower low yet.
Short
by DesharedPierreJr.
EUR/JPY, AUD/JPY, EUR/AUD and USD/CHF on watch for me today.EUR/JPY: • If price pushes up to and ideally just above our upper trend line and the last part of the move is corrective, then I'll be looking to get short with a risk entry after a phase line break on either the fifteen minute or the one hour chart. • If price pushes up to and ideally just above our upper trend line and it does so impulsively, then I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag. • If price only pushes up to and ideally just above our rayline, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll again be looking to get short with a reduced risk entry on the break of the flag. • If none of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place any of these trades. AUD/JPY: • If price pushes up to and ideally just above our upper trend line and the last part of the move is corrective, then I'll be looking to get short with a risk entry after a phase line break on either the fifteen minute or the one hour chart. • If price pushes up to and ideally just above our upper trend line and it does so impulsively, then I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag. • If price only pushes up to and ideally just above our rayline, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll again be looking to get short with a reduced risk entry on the break of the flag. • If none of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place any of these trades. EUR/AUD: • If price pushes down to and ideally just below our lower trend line and the last part of the move is corrective, then I'll be looking to get long with a risk entry after a phase line break on either the fifteen minute or the one hour chart. • If price pushes down to and ideally just below our lower trend line and it does so impulsively, then I'll be waiting for a convincing impulse back up followed by a tight flag and then I'll be looking to get long with a reduced risk entry on the break of the flag. • If price only pushes down to and ideally just below our rayline, then regardless of how it does so I'll be waiting for a convincing impulse back up followed by a tight flag and then I'll again be looking to get long with a reduced risk entry on the break of the flag. • If none of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place any of these trades. USD/CHF: • If price pushes up to and ideally just above our upper rayline, then regardless of how it does so I'll be waiting for a convincing impulse back down flag and then I'll be looking to get short with a reduced risk entry on the break of the flag. • If price simply impulses back down below our lower rayline and a subsequent tight flag forms, then I'll once again be looking to get short with a reduced risk entry on the break of the flag. • If price simply impulses back down below our most recent corrective channel and it starts to correct but it doesn't correct below our lower rayline, then I'll be waiting for this correction to turn into a one hour flag and then I'll once again be looking to get short with a reduced risk entry on the break of the flag. • If none of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place any of these trades.
by StewySongs
27
Time to go long on AUDUSDThis pair has been retracing for a few days now. I believe that after Wednesday's close, price is very close to reversing. The presentation of an indecision candle on top of a major support and between the 23.6% and 38.2% fib, signifies that momentum is slowing down for bears. I would wait for more bearish activity during following hours, and potentially for buyers to come in while there's volatility. Reversal candlesticks on top of this support are valid buy opportunities for at minimum 80pips. Look to buy after a false breakout to the downside or after the final low.
Long
by DesharedPierreJr.
GBP/USD, AUD/JPY, NZD/JPY and USD/JPY on watch for me today.GBP/USD: • If price pushes up to give us a confirmed second top and the last part of the move is corrective, then I'll be looking to get short with a risk entry after a phase line break on either the one hour or the fifteen minute chart. • If price pushes up to give us a confirmed second top and the last part of the move is impulsive, then I'll be awaiting a subsequent convincing impulse down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag. • If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place either of these trades. AUD/JPY: • If price pushes down to give us a confirmed second bottom and then it pushes up to give us a confirmed second top and the last part of the move is corrective, then I'll be looking to get short with a risk entry after a phase line break on either the one hour or the fifteen minute chart. • If price pushes down to give us a confirmed second bottom and then it pushes up to give us a confirmed second top and the last part of the move is impulsive, then I'll be awaiting a subsequent convincing impulse down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag. • If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place either of these trades. NZD/JPY: • If price pushes down to give us a more horizontal pair of bottoms and then it pushes up to and ideally just above our rayline, then so long as the last part of this move up is corrective I'll be looking to get short with a risk entry after a phase line break on the one hour or the fifteen minute chart. • If price pushes down to give us a more horizontal pair of bottoms and then it pushes up to and ideally just above our rayline then so long as this move up is impulsive I'll be awaiting an impulse back down below it followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag. • If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place either of these trades. USD/JPY: • If price pushes up to and ideally just above our higher time frame rayline, then regardless of how it does so I'll be waiting for a convincing push back down below both it and the lower ascending trend line of the corrective channel to the left followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag. • If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place this trade.
Short
by StewySongs
26
GBP/JPY, EUR/JPY and USD/CAD on watch for me today.GBP/JPY: • If price pushes up to and ideally just above our upper trend line and the last part of the move is corrective, then I'll be looking for a risk entry after a phase line break on either the one hour or the fifteen minute chart. • If price pushes up impulsively to and ideally just above our upper trend line, then I'll be waiting for a convincing push back down below our rayline followed by a tight flag where I'll be looking for a reduced risk entry on the break of the flag. • If price pushes up to and ideally just above our rayline, then regardless of how price does so I'll be waiting for a convincing push back down followed by a tight flag where I'll be looking for a reduced risk entry on the break of the flag. • If none of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place any of these trades. EUR/JPY • If price pushes up to and ideally just above our upper trend line and the last part of the move is corrective, then I'll be looking for a risk entry after a phase line break on either the one hour or the fifteen minute chart. • If price pushes up impulsively to and ideally just above our upper trend line, then I'll be waiting for a convincing push back down below our rayline followed by a tight flag where I'll be looking for a reduced risk entry on the break of the flag. • If price pushes up to and ideally just above our rayline, then regardless of how price does so I'll be waiting for a convincing push back down followed by a tight flag where I'll be looking for a reduced risk entry on the break of the flag. • If none of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place any of these trades. USD/CAD • If price pushes down to and ideally just below our lower trend line and the last part of the move is corrective, then I'll be looking for a risk entry after a phase line break on either the one hour or the fifteen minute chart. • If price pushes down to and ideally just below our lower rayline, then regardless of how price does so I'll be waiting for a convincing push back up followed by a tight flag where I'll be looking for a reduced risk entry on the break of the flag. • If price only pushes down to our upper rayline, then again regardless of how price does so I'll be waiting for a convincing push back up followed by a tight flag where I'll again be looking for a reduced risk entry on the break of the flag. • If none of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place any of these trades.
by StewySongs
5
Update on the SPX - in need of some consolidation near termDisclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
CBOE:SPXLong
by The_STA
NZD/USD and GBP/USD on watch for me today.NZD/USD: • If price pushes up to and ideally just above our upper trend line and the last part of the move is corrective, then I'll be looking for a risk entry after a phase line break on either the one hour or the fifteen minute chart. • If price pushes up impulsively to and ideally just above our upper trend line , then I'll be waiting for a convincing push back down below our rayline followed by a tight flag where I'll be looking for a reduced risk entry on the break of the flag. • If price pushes up to and ideally just above our rayline, then regardless of how price does so I'll be waiting for a convincing push back down followed by a tight flag where I'll be looking for a reduced risk entry on the break of the flag. • If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place any of these trades. GBP/USD: • If price pushes up to and ideally just above our upper trend line and the last part of the move is corrective, then I'll be looking for a risk entry after a phase line break on either the one hour or the fifteen minute chart. • If price pushes up impulsively to and ideally just above our upper trend line , then I'll be waiting for a convincing push back down below our rayline followed by a tight flag where I'll be looking for a reduced risk entry on the break of the flag. • If price pushes up to and ideally just above our rayline, then regardless of how price does so I'll be waiting for a convincing push back down followed by a tight flag where I'll be looking for a reduced risk entry on the break of the flag. • If none of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place any of these trades.
Short
by StewySongs
38
We adjust our negative stance on EUR/USD to neutralFollowing a week where we saw the Fed pause and the ECB raise rates, the Euro is looking a bit more positive and we will for now drop our negative bias and adopt a more neutral stance to see how it deals with tougher resistance near the 1.11 mark. Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
by The_STA
GBP/USD on watch for me today.GBP/USD: • If price pushes up to and ideally just above our upper trend line and the last part of the move is corrective, then I'll be looking for a risk entry after a phase line break on either the one hour or the fifteen minute chart because we will have had a completed three touch structure. • If price pushes up impulsively to and ideally just above either our upper trend line, our upper rayline or our lower rayline, then I'll be waiting for a convincing push back down followed by a tight flag where I'll be looking for a reduced risk entry on the break of the flag and if the flag forms just below our lower rayline as illustrated I'll be hiding my stop loss above it for extra protection as illustrated. • If price pushes up to and ideally just above our lower rayline, then regardless of how price does so I'll be waiting for a convincing push back down followed by a tight flag where I'll be looking for a reduced risk entry on the break of the flag. • If none of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place any of these trades.
Short
by StewySongs
44
AUD/USD, USD/SGD, EUR/CAD and USD/CAD on watch for me today.AUD/USD: • If price pushes down to and ideally just below the lower descending trend line of our most recent piece of structure, then regardless of how it does so I'll be waiting for a convincing impulse back up followed by a tight flag and then I'll be looking to get long with a reduced risk entry on the break of the flag. • If price simply impulses back up above our rayline, it does so in a convincing manner and a subsequent tight flag forms, then I'll again be looking to get short with a reduced risk entry on the break of the flag. • If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place either of these trades. USD/SGD: • If price pushes up to and ideally just above our rayline, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag. • If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place this trade. EUR/CAD: • If price pushes up to and ideally just above our rayline, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag. • If price simply impulses back down, it does so in a convincing manner and a subsequent tight one hour flag forms, then I'll again be looking to get short with a reduced risk entry on the break of the flag. • If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place either of these trades. USD/CAD: • If price impulses down below our rayline and it does so in a convincing manner, then I'll be looking to get short with a reduced risk entry on the break of a subsequent tight flag. • If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place this trade.
by StewySongs
10
GBP/USD is in one-year highs - where is the next resistance?GBP/USD is in one-year highs - where is the next resistance? In between 1.2867/85 lies a short term resistance line, the 55-month ma, the 200-weel ma and the 23.6% retracement of the entire move down from the 2007 peak. We recommend tightening up stops as we approach this tough zone as we would allow for some profit taking in this vicinity. Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
by The_STA
WTICO/USD, USD/JPY and AUD/USD on watch for me today.WTICO/USD: • If price pushes up to and ideally just above our outer structure upper rayline, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag. • If price only pushes up to and ideally just above the upper rayline of our most recent piece of structure, then regardless of how it does so I'll once again be waiting for a convincing impulse back down followed by a tight flag and then I'll again be looking to get short with a reduced risk entry on the break of the flag. • If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place either of these trades. USD/JPY: • If price impulses back down below the upper trend line of our most recent piece of structure, it does so in a convincing manor and a subsequent tight flag forms, then I'll be looking to get short with a reduced risk entry on the break of the flag. • If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place this trade. AUD/USD: • If price impulses back up, it does so impulsively and in a convincing manner and a subsequent tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of the flag. • If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place this trade.
by StewySongs
12
EUR/JPY, USD/JPY and USD/CAD on watch for me today.EUR/JPY: • If price pushes up to and ideally just above our rayline, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag. • If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place this trade. USD/JPY: • If price continues to correct between now and I'm awake to place the order then I'll be looking to get short with a reduced risk entry on the break of this tight one hour flag. • If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place this trade. USD/CAD: • If price breaks the upper descending trend line of our most recent piece of structure, it does so impulsively and in a convincing manner and a subsequent tight flag forms, then I'll be looking to get long with a reduced risk entry on the break of the flag. • If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place this trade.
by StewySongs
38
US30: Price levels and pattern analysis post-FMOCToday's focus: US30 Pattern – Ascending Triangle, low rejection, Resistance Possible targets – 35,260 - 33,255 Support – 33,790 Resistance – 34,310 Today we have looked at the US30 after this morning’s FOMC. The Fed held rates but commented that we could see two more rises this year. With price bouncing back after testing lower, could we see a new shot at resistance, or will we see sellers make a new test lower, breaking the current uptrend? If the trend is broken, could this set up a new move back to test the long-term pattern base? On the other side, could buyers make a new move to test or break key resistance? With rate raises back on the agenda will this maintain the current key resistance and hold price in its overall pattern? Good trading.
EIGHTCAP:US30
by Eightcap
How to adjust Fibonacci Support and Resistance Levels Hey Traders so today I wanted to make a quick video on what to do if your using Fibonacci and the market makes new highs or lows. I only use the daily charts however this may be able to also be applied to other time frames. The key in my opinion is to try and follow the market and let it confirm new levels before adjusting. Also in long term trends you may have to keep making adjustments multiple times before the market hits a top or a bottom. Enjoy! Trade Well, Clifford
CME_MINI:ESU2023
by TradeTheIndex
EUR/USD approaching key resistance - allow for initial failureDisclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
Short
by The_STA
$SPY Intra-Day Bearish SignalsIn terms of market direction, the short term trend is bullish, as the 9ema is trading above the 20ema. Moreover, the medium term trend is bullish, as the 20ema is trading above the 50ema. Finally, the long term trend is bullish, as the 50ema is trading above the 200ema. As a friendly reminder, given that all three trends are bullish, it would be prudent to think long and hard about whether or not there is truly a technical basis for entering a bearish swing trade at this time. That being said, how strong is the current trend? Notably, we closed above not only last week's high, but also the previous trading day's high as well. This is an indication that the bullish trend is rather strong. Another way that traders analyze the strength of a trend is by appeal to the Average Directional Index (ADX), in which high readings are suggestive of strong trends and low readings are suggestive of weak trends or chop. At the moment, the ADX has a value of 50.25, indicating an extremely strong trend that is likely soon approaching exhaustion and at risk of correction or reversal. We also have to consider the two main momentum oscillators: the Relative Strength Index (RSI) and the Stochastic Oscillator. Currently, the RSI reading is 83.57, indicating that the market is technically overbought and may be due for a correction or trend reversal. For its part, the Stochastic Oscillator currently has a reading of 96, indicating that the market is technically overbought and may be due for a correction or trend reversal. Beyond the momentum oscillators, we also need to familiarize ourselves with the relationship between current price and the Bollinger Bands. At the moment, price is approaching the upper Bollinger Band, indicating that the uptrend may soon encounter resistance. With regard to the question of trend reversal, we need to check for any crossovers between certain indicators and their respective moving averages. Currently, the RSI is above its 14-candle moving average, indicating ongoing short-term trend strength. Currently, the Stochastic Oscillator is above its 3-candle moving average, indicating ongoing short-term trend strength. Finally, the MACD is above the signal, indicating ongoing short-term trend strength. Crosssover analysis is not the only way to test for potential trend reversal. Another strategy involves looking for divergence between indicator readings and price action. At this time, there is bearish divergence between RSI and price action. Moreover, there is currently bearish divergence between the Stochastic Oscillator and price action. Finally, at this time there is currently no divergence between MACD and price action. -------- Short levels: 439.04, 441.07, 443.11, 445.14
AMEX:SPYShort
by FadingExtremes