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AUDCAD Descending Pennant Setting up for Bearish BreakoutCurrently sitting on historic structure support. In consolidation and no confirmation of trend reversal or continuation so the assumption must be the trend will continue until the market shows otherwise. Therefore if the price continues down the next target will be a retest of structure at 0.89057 initially and then 0.88356. A break and close below 0.88356 will confirm trend continuation. To note - Rejection above 0.90881 so the price never retested previous highs which supports the prediction of a lower move. Formation of a Descending Pennant further supports the probability of a Bearish move from a breakout.
Short
by pjpfowler
1
EURGBP - Another lower top in the making?The EURGBP currency pair on the 4-hour timeframe has been following a downtrend since 14 February. The price registered 7-month low at 0.85288 on 27 February. The EURGBP made a comeback and registered the high of 0.86233 on 1 March. As of writing, price is hovering around 0.8600, trying to make another lower top. Recent bullish move in the currency pair seems weak as bulls failed to break the first resistance level of 0.86233 (the high of 1 March). The 4-hour chart of the EURGBP confirms the negative sentiment in the price movement as the pair is making successively lower tops and lower bottoms; hence downtrend. The lowest value of the period under study was recorded on 27 February when price registered the low of 0.85288. The highest value of the period under study was registered on 14 February when price reached 0.88397. Bears are still in control of the market as the price failed to break the resistance level of 0.86233. By applying Oscillators analysis, two indicators confirm the negative bias in the market. As the chart shows, price is well below the 200-period Moving Average. The MACD (Moving Average Convergence/Divergence) is recording values below the zero-line which shows negative sentiment in the EURGBP currency pair. Momentum Oscillator is above the base-line due to recent bullish attempt but the overall outlook for the EURGBP still remains bearish due to strong Pound Sterling. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
Short
by FXTM
Bearish Trend Continuation XAUUSD (Gold) 1HR TFHi guys, So what we are looking at today is a potential move in Gold for bearish trend continuation, as we have recently seen price action press down into lows of 1193's for where previous level of structure support was retested and respected. However, on the 4HR TF we saw price action break and close below into new lows of 1193's suggesting strong bearish momentum. I believe following support of 1193's being respected allowing a bullish relief rally to occur that now price action has retracted into previous levels of structure at 1200 - 1208's for where selling pressure could re-enter the market and we could see one final retest of the lows down at 1193's. Following the bullish retracement into previous levels of structure and more specifically the kill zone of 1202 - 1208, that RSI has gone OB and price action has printed a valid LLLC candlsetick that I am now short in anticipation for one final retest of the most recent lows printed in Gold (1193).
FX:XAUUSDShort
by hmwalker_
HIGH POTENTIAL BEARISH CYPHER PATTERN ON 4H GBPCHF!Hello traders, i wish you had a nice trading week,month and a nice trading summer as we come to an end. To be honest it was an unusual summer as far as volatility and that was good for us.. No need to say anything else let's see this bearish Cypher pattern on 4H timeframe on GBPCHF. TECHNICAL OBSERVATIONS 1.THE 200EMA HAS A DESCENDING SLOPE AND THAT'S FAVORING THE SHORTS. 2.WE HAVE THE BLUE DESCENDING CHANNEL THAT IS CURRENTLY BROKEN AND WE ARE EXPECTING THE RE-TEST. 3.THE RE-TEST OF THE DESCENDING CHANNEL IS COINCIDES WITH THE POSSIBLE TARGETS OF THE BEARISH CYPHER PATTERN,SO WE HAVE ONE MORE CONFIRMATION BASED ON STRUCTURE. 4.WE HAVE STOCHASTICS AT OVERBOUGHT AREA READY FOR A CORRECTION. 5.WE HAVE RSI AT OVERBOUGHT LEVELS AND WE HAVE BEARISH DIVERGENCE AS PRICE IS MAKING HIGHER HIGHS BUT THE RSI INDICATOR IS NOT. 6.PRICE IS APPROACHING A RESISTANCE ZONE BASED ON PREVIOUS STRUCTURE. POSSIBLE SHORT TRADE BUY STOP AT PSYCOLOGICAL ALSO NUMBER 1,2700 AND 1.13% FIB EXTENSION OF XD LEG. ENTRY PRICE AT 1,26050 FIRST TARGET T1 AT 1,24600 SECOND TARGET T2 AT 1,23660 THANK YOU ALL FOR SUPPORT! KEEP FOLLOWING FOR MORE PROFITS!
Short
by The_Greek_Trader
POUND STERLING'S PROSPECTS - SEEING THROUGH THE BREXIT FOGThis chart was published along with supporting material in an exclusive article published in an on 14th June 2016 - Link www.talkmarkets.com Please refer to that article for detailed explanation to avoid repeating here and for proper context in terms of time and event it related to However for ease of reference and tracking future price action and trade planning by Tradingview community I am reposting the main chart and snapshots here. Warning: This is my interpretation of price action using TA approach that I consider helps me most5 but could be completely wrong. Therefore as always, do your own analysis for your trade requirement and ignore my views. For those who appreciates my analysis, select to follow me and the chart for notification of future updates. Indicate you like my analysis by thumbs up, comments and sharing it with others. If you have an alternative idea then please be constructive and share for all to learn from. Thank you for taking the time to read my analysis. DanV danv-charting.com
Short
by DanV
15
ILMN showing weakness in front of major support Fundamentals: Illumina made a disappointing start to first-quarter 2016 missing the estimates. Also, rising costs has potential to hamper its growth significantly. This rise in higher operating expenses impacted Ilumina’s cash flow reserve in the reported quarter. Technicals: In the mid of summer 2015 the price of stock accelerated with top $242. But big, engulfing, bear candle ended this run to the sky. Then it broke major trend line and deeper correction started. Then, it built sereis of lower highs, which mean that bear are in control. And now, we are sitting in front of major support $130 after dissapointing earnings. Trade Management: Break down of major support at $130 and hold below for a few days will trigger Short Entry. Shouldn't go back above $144.50, otherwise it will be break out failure. Respective Target is $92, which make this trade attractive from Risk/Reward point of view. Market: $IBB - ETF for bios is underperforming the market. And overall market ($SPY) is building Head&Shoulders pattern (now, we are in right shoulder). That also supports this idea.
NASDAQ:ILMNShort
by andrew.berg