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SHLS Weekly Bullish Bat Harmonic PatternSHLS Bouncing off of the HOP level of a weekly Bat Pattern. Lower timeframes show a 1 hour unconfirmed bearish shark, idealizing entries of 6.39 and 5.85. Stop loss below the confirmation dot at 5.93, but this is significant drawdown at the current price of $7 so a lower entry is ideal. For targets I included XA level as this is a 75% move, along with the typical T1 and T2 Targets of 19.89 and 24.67, respectively. SHLS beat earnings 3 of the last 4 quarters, and has an earnings report scheduled for July 30th, 2024. The average analyst price target for SHLS is $12
NASDAQ:SHLSLong
by catnobanana
USDJPY Analysis and Trade OpportunitiesLike I mentioned in our weekend live session, I don't see any BOJ intervention happening soon. The earliest I’m looking is when the market reaches 158.73, with the next level at 159.66. Around 157.74 is the level I'll be looking for a buying opportunity using the existing strategy that I've used for many years. Key Levels: Potential Intervention Levels : - 158.73 - 159.66 - Buying Opportunity : Around 157.74 Shorting Opportunities : 1-Hourly Chart : - Bearish Bat Pattern Completion : 158.15 - ABCD Pattern Completion : 158.39 if the Bearish Bat Pattern does not complete Strategy : - Buying at 157.74 : Use the tried and tested strategy that has worked over the years. - Shorting Opportunities : Monitor the 1-hourly chart for potential Bearish Bat Pattern at 158.15 and ABCD Pattern at 158.39. What’s your trade plan for USDJPY? Any valuable insights you’d like to share? Comment down below.
Long
by RaynLim
EURUSD Bearish Trend and Bearish Bat Pattern CompletionEURUSD Bearish Trend and Bearish Bat Pattern Completion Instrument: EUR/USD Timeframe: 1-Hourly Chart Current Direction: Bearish Analysis: EUR/USD is currently exhibiting a bearish trend. While the impulse to short immediately is strong, my preferred entry level is at 169.54. This price point aligns with the completion of a bearish bat pattern on the 1-hourly chart. Key Points: - Bearish Trend: The overall trend for EUR/USD is downwards. - Bearish Bat Pattern: Completion level at 169.54, which offers a high-probability short setup. - Entry Level: 169.54 - Chart Pattern: Bearish Bat Pattern - Timeframe: 1-Hourly Chart Strategy: - Wait for Price to Reach 169.54: Monitor the price action and wait for it to approach the 169.54 level. - Confirmation: Look for bearish confirmation signals around this level to enter a short position. Stay tuned for updates and trade wisely!
Short
by RaynLim
1
GBPUSD forms a bearish bat pattern and starts to move downOn the daily chart, GBPUSD started to move downward after forming a bearish bat pattern, and the short-term bearish trend is dominant. In addition, GBPUSD formed an insidebar break on Friday last week, and the downside risk increased during the day. The current key resistance is around 1.2740. If the rebound is blocked, you can consider shorting (a light position short order can be tried around 1.2700). The support below is around 1.2570. After breaking through, the support below is at 1.2500.
Short
by XTrendSpeed
BTC Technical Analysis. "Our greatest glory is not in never falling, but in rising every time we fall" Dear Analysts and Traders, I would like to share my latest look at the BTC price chart. First of all, I would like to point out that I am not a person who received a targeted education. I am a self-taught person who places particular emphasis on the use of Technical Analysis as the main component of the decision-making process. This is due to my approach, which assumes that the chart, although difficult to read, allows for the interpretation of the hidden intentions of "smart money". I would like to emphasize that the following words only illustrate my point of view, which does not have to be right, and that the publication is absolutely not investment or educational advice within the meaning of any law regulating these issues. I'm just going to talk about things I don't know anything about. In the analysis, I will use my own indicator, which is publicly available. The average value of the indicator is obtained from all visible data on the chart. Background In the graph showing the period from aprox. November 2022, I see a strong upward trend, which has been broken several times by the accumulation structure. The price stops around $74k, which means the price has increased by about 370%. In the more recent past, I notice a price formation resembling a double top on the chart. Situational analysis I analyze the chart using three volume profiles, elements of Elliot's theory and harmonic structures. In my opinion, the most important element of the chart is the horizontal structure, which I consider to be the probable distribution. I think so because I see several indications in the chart that suggest so. The first is a structure referring to Wyckoff's theory and VSA elements. The trend and structure are in the upper part almost from the ruler, there are distribution signals that are stronger than accumulation ones, which I marked with colored arrows. In my opinion, the Bitcoin price chart represents Phase B of distribution. I see demand exhaustion near possible Uphtrust. I marked events consistent with Wyckoff's methodology in white letters. There is a Volume Reversal Pattern between the last two highs. The earliest profile shows a POC equal to my proposed price level, which would be the D vertex of a potential harmonic structure - the bullish bat. Looking at the second chronological volume profile, I see supply signals crossing the upper limit of the trading rank created by the profile from below. On the third, most important profile, I see a High Volume Node equal to the VOP of the first profile and also the D point of the bat. From the Elliot theory side, I believe that the price is stuck at the end of the fifth wave and I should expect a correction. I also pay attention to the time dimension. The time to cover the distance between extremes during an impulse is equal to the time between the next such event. Considering the time zone according to the Fibbonaci numbers and the impulse wave, I see a comparable distance between the X-A and B-C-D vertices. Interpretation Given the number of signals suggesting the significance of aprox. $43k, I think there is a high probability that this analysis will come true. Thinking about the volume ratio between accumulation and distribution, I dare say that it is possible for this accumulation to be the initial support in a Wyckoff higher-level structure. I am very glad that this analysis was created because, especially if implemented, it will be a broad synthesis of various Technical Analysis methods to study market behavior. Whoever reached the end of my thoughts, I thank you and I hope that the time to explore my thoughts was not wasted. Fruitful trades and flawless analyses! CatTheTrader
by CatTheTrader
USDJPY Analysis: Opportunities for Shorting EnthusiastsUSDJPY is still pretty bullish, but for those looking to short, here's what I'm watching: Daily Chart: - Signal : Retest of the broken trendline - Entry : Wait for MCC 1-Hourly Chart : - Bearish Deep Gartley Pattern at 157.33 - Conservative Entry : Wait for MCC, preferably a retest on the PRZ (Potential Reversal Zone) with RSI Divergence What's your trade plan for USDJPY? Comment down below and share your thoughts! Happy trading!
Short
by RaynLim
EURUSD Analysis: Multi-Timeframe Shorting OpportunityHere’s a detailed look at the EURUSD across multiple timeframes: Weekly Chart: - The market is in a sideways consolidation phase. - The upper trendline has been respected, indicating a potential downside movement. Daily Chart: - Watch for a retest of the Fib-3 Bat Pattern, which could offer a prime shorting opportunity. 1-Hourly Chart: - I’m eyeing a retest of the resistance at 1.0863 for a shorting opportunity. What’s your trade plan for EURUSD? Comment down below and share your insights! Happy trading!
Short
by RaynLim