Sentiment: Neutral to Bearish
As we've observed in the past two weeks Gold has been in a significant uptrend due to its negative correlation with the $DXY (US. Dollar Index) as well as overall volatility in the markets. However as we all know the law of gravity states that all things that go up must eventually come down.
1. Rising Wedge Pattern and...
Contract - CME_MINI:NQU2020
- High - 11156.75
- Low - 11073.00
*Plus Tweezer Top on the daily chart
- Gap: N/A
- Session Open ATR: 229.06
- Long-term (Daily) Trend: Bullish
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance....
Traders often talk about several candlesticks and candle patterns but "Tweezer Tops" is rarely mentioned. You can look it up or just look at the weekly chart on EU instead. It is a pattern that could mean trend reversal or at least a short term change in direction.
A few qualifiers are:
- A clear preceding up trend must be present.
- The colour of candles does...
A jittery day plus a possible "tweezer top" candlesticks forming today near the channel top. The day isn't over yet and unless we have a good rebound within the next 2 hours, then it looks like we could be heading into some correction over the next few days.
Go flat, reduce,hedge your longs... or even go temporarily short?
Disclaimer: This is just my own...
Gold just made a tweezer top.
The last two candlesticks on 2 H are on the top almost equal, that means there would be a SELL signal before and after the the major jobless claim news.
Have a nice trading day
I’m going to breakdown the loss I took on Friday and I could have done better but to be honest, without these market conditions there’s not a lot I would have done differently I would take this set up over and over again. But let me explain,
So I was looking at AUDUSD to come back down to the 0.600 level and to even dip below. I saw great confluences on the...
We are looking at the AUD VS JPY. Lets start with the geopolitical events occurring in Australia at the moment. The fire season has truly been a tragedy this year. With things coming to an end a lot of pessimism is expected to follow through, which will most likely cause the overall bearish sentiment to rise in the AUD economy.
In this chart you see a failing...
The chf is stronger than the euro and if a country is out of europe ; that means that they value their country more than whole europe.
In my opinion we see a small inside bar and a tweezer, that means a bearish scenario for this week.
i recommend to short ar 1.1000 and take profit around 1.08300 and the next take profit is around 1.06800 take ^profit
A Bearish Bat setup within the supply-demand zone with a magic candle which in this case may read as tweezer tops. I will go for an aggressive short when market opens on Monday, let just hope that no major gap happens.
If a gap above and close above, I will have to scrap this trade-ideas.
If a gap below and close below, I will have to wait for a retest for a...
So we had the monthly and quarterly (3 months) close this night (UTC time), and I can't keep off my thought this two environments looks a lot alike the one we had at the topping at 20 k. Tweezer tops, this gives me chills down the spine.
Thought the volume in the last run we had is above the one in the previous bull run. A good sign?
Keep an open mind and trade safe!
AUDCAD testing the upper part of the down-channel, with a double candlestick pattern: a tweezers top and a bearish engulfing pattern.
Stop loss and take profit are very tight, since we are trading on the M15 within a very tight channel, so I suggest to check the spread first for your broker and avoid this trade if you have a spread that is over 1 pip.