Multiple reasons to short this based not on the recent Bullish breakout on the shorter time-frames, but on the longer rejection area's. Of course Forex is random factors so we wait for everything to allign before going short.
We've been in this trade Short for a couple of days now and price is continuing to show sign's of exhaustion through strong rejection wicks to the upside. It is an obvious Break of Demand & retest as Supply so the play is as a continuation down to around the 84 threshold. Typically waited for a rejection at previous Daily close area's to signal a reversal around...
- Bullish Wedge
- Daily Regular Bullish Divergence
- Huge Short Sentiment (Contrarian positioning)
- Previous Price Reversal Point
** Note I did say 'risk what you cant afford in the video, obviously I meant only risk what you can afford **
Great RRR on a potential (loose) Three Drives Formation on CADJPY. Trend-line hit on a Daily Support zone , potential Double Bottom . Lovely S&R within the lower channel of this traditional pitchfork. Look for the 127% Extension for an Maximum TP before the big drop.
I post uninterested in the hoards of positive outlooks across Tradingview. Kep it raw, keep it real. Its a long term game think long term. Think of therewards from buying lower, dont throw your money away now.
A rare piece of public analysis, and more a warning rather than anything else after seeing so many Bullish BTC idea's on here.
Lets face it, its exciting that BTC is on the verge of a potential breakout, Volume is low as can be, price is static within its Descending Triangle, something is going to happen this week. But its important that your Bias stays Mechnical...
EURAUD had a huge rejection from the monthly resistance range which broke the uptrend and started the potential long-term reversal pattern. Price is peaking on the Right Hand Shoulder right now so we are awaiting a trend-line break and to short the retest for a 900 pip move on a completed pattern.
GA has broken its 1HR mini range trendline and has retested the 61.8 so the downtrend should continue from here, multiple areas of confluence and fibonacci support the theory and a Aussie that appears to be strenghtening. THE Long Term EMA's may cause you some trouble though.
Price reversed at the Monthly supply area with a 5th Wave deeper correction we are now looking at the right shoulder for a completion of a Head & Shoulders formation with a view to a potential 1000 pip down-move. Beware of the Aussie Dollar though fundamentally while the Euro looks fairly Bullish against the Dollar the Aussie does not.
Small Head & Shoulders on Hourly indicates continuation entry on this long term short from Daily Flag.
Notice previous rejections from 200 & 500 EMA's, break of trend and consolidation back upto strong resistance point.
This could go either way right now, look for the Break of the 147 Neckline for a very nice short opportunity on the retest. Alternatively look for Buy confirmations back up-to 150 or even to the upper trend-line for the Wedge Formation.
Double Demand confirmation of Trendline and Support area so the Bias has to be upwards until broken.
We have 3 instances of Demand being hit right now, the 200EMA coming into play on the Weekly and the Daily so we can look Long on price action confirmation. Potential Triple Bottom completion and retest before moving up in wave 5.
Potential Trend-Line Break is a slight worry but with good price action it could be a very nice Swing.