1. head and shoulder pattern.
2. price is near of resistance zone on weekly time frame.
3. price is in right shoulder .
4. we can see a bearish divergence on RSI (14).
5. reversal candlestick on h1 time frame.
6. risk to reward potential is 1:2 !
that's why i'm going for short:
1-head and shoulder pattern (waiting for right shoulder)
2- price touched the support zone (neckline)
3- RSI (14) shows a bearish divergence
notice: in daily time frame we can see another head and shoulder that shows us a bullish movements possibility!
so here we have 2 position opportunity .
short in h4 and long in daily .
i"m going for short on this pair .
1. on weekly time frame price reached to previous resistance (left shoulder) .
2. on weekly time frame we can see 2 pattern: 1. head and shoulder 2. double top
3.on the RSI (14) the signs shows me bearish divergence.
however on weekly time frame we can't see any bearish candlestick confirmation yet, so i recommend...
in this pair i see head and shoulder pattern on h4 and h1 timeframe and a long opportunity trade !
1- head and shoulder pattern
2- price touched the support zone (left shoulder)
3- we can see at least 2 support key level on daily timeframe , you can check it out in history of this chart (daily)
4- bullish candlestick on daily timeframe
i see bearish movements on cadchf H4 and daily timeframe , i also see bearish divergence on RSI with 14 period (standard) . the next confirmation is touching the daily resistance key and also bear candlestick in H4 .
this is why i took this analysis of euraud:
1. the bullish trend line in daily time frame is breakout .
2. price come back to near of previous resistance .
3. bearish candle confiramtion in daily time frame.
4. risk to reward is above 1:2.
5. double top pattern .
for BTCUSD cryptoCurrency i find these below confirmation for my LONG position in H4 time frame:
1. fib retracement 50%-61.8%
2. price is near of previous support line.
3. price is touching bullish trend line.
4. trend is up.
in 4 hour time frame we can see a pattern that called symmetrical triangle , also the price is under a resistance and above a support in daily time frame , so if break resistance go for long and if break support we go for short after break out the pattern !
breakout bullish trend line is our first confirmation. and second confirmation is waiting for support line breakout.
if support break out go for short , if not wait for resistance breakout. although we can trade short in resistance and trade long in support line after confirmation of bullish(in support line) or bearish(in resistance) candlestick.