AUDCHF - BREAK OF STRUCTURE 📉the AUDCHF price reached a trendline resistance.
the key level has broken 🔥
i predict a bearish move (break of structure) 📉
TARGET: 0.68004 🎯
Double Top
EURUSD - BEARISH HEAD AND SHOULDERS 📉the EURUSD price reached a trendline & fibonacci resistance, the key level has broken ✔
i predict a bearish move (bearish head and shoulders pattern) 📉
TARGET: 1.03791 🎯
Fri 10th Jun 2022 AUD/JPY Daily Forex Chart Sell SetupGood morning fellow traders. On my Daily Forex charts using the High Probability & Divergence trading methods from my books, I have identified a new trade setup this morning. As usual, you can read my notes on the chart for my thoughts on this setup. The trade being a AUD/JPY Sell. Enjoy the day all. Cheers. Jim
GBPJPY Possible Double Top Formation GBPJPY possible double top formation, if happens, and also divergence on RSI, we could go SHORT from resistance to lower support.
NZDJPYreversal potential/ double top
nzdjpy is rejecting from previous tops and it could drop. Potential profit taking and another big drop on the way. High risk trade!!
targets: target 1 - 83.500
target 2 - 81.650
0706 4H PLAN GOLD keep down to breakout to test 1798-1811Hello traders,
GOLD is very bearish on 4h chart that it will very soon to breakout nearest support level 1828 and down to test 1811 first, 1798 after.
Plan you selling order based on the bearish double head with new swing after retesting the EMAS.
Good luck !
LESS IS MORE!
US30 ANALYSIS ON DAILY TIME FRAMEThe combination of Double Top/ Ascending Triangle is one of the best to spot, especially on US30.
So if we see a candle closing above the resistance we can take a buy and go for an ascending triangle.
And if the price breaks the trendline and and the potential neckline we go for a sell.
Simple and effective 👍💪
Comment your thoughts and follow for more ⚡
USDJPY-Weekly Market Analysis-Jun22,Wk2There is 2 trading opportunity, it depends on which camp you belong to. Counter-Trend Trader or Trend trader.
The Counter-Trend Trader could wait for a Double-Top setup within the Supply Zone(red box) with the RSI Divergence setup.
Trend Traders can wait for a Buying Opportunity at the Demand Zone(blue box).
There is still some time before the US Interest Rate Decision, it is likely to be 1 of the most volatile event that's going to happen on 16Jun, 2 am (GMT+8)
AUDNZD is close to form the Double TopAUDNZD is approaching the HUGE resistance level, let's see it retest and then go SHORT.
AUDNZD Double Top Possible formation tomorrow! This pair is very probable to make this chart pattern, if that happens, then we can SHORT the pair and make very nice profits.
CADJPY double topThe price shows double top, which would indicate bearish momentum. The RSI shows that CADJPY is being overbought, which also indicates upcoming bearish momentum.
Bollinger band: bounced of the top of the Bollinger band, which also indicates upcoming bearish momentum.
Target:99.74
Entry: 102.55
S&L: 103.48
ETC double top#ETC/USDT
$ETC shaped double top pattern, and dropped to ascending support that is the same with neckline of double top.
🐻 if bears success to hold the resistance and break down from ascending support, price will drop as high as top to support zone between $19 and $17.5.
🐮 but if bulls overcome the battle and break out resistance zone and descending resistance, price will going to continue its rally.
DOUBLE TOP ON CADJPY - SELL IN THE NEXT DAYS Very probable to go SHORT because we are in the SELL zone, let's see how the price behaves in the next hours.
AUDUSD : BEARISH FORECAST Potential ascending channel reaching for a double top.
If the double top is confirmed, short entries will be on the watch.
GBPCHF a short opportunity 🦐GBPCHF on the daily chart is moving inside a daily descending channel .
The price after the test of the 1.25500 area dropped exactly at the monthly support and from there retraced perfectly at the 1.24500 level.
How can we approach this scenario?
Currently, the market is testing once again the resistance area and if the pair will break below we will move on the 4h chart to search for an entry point according to the Plancton's strategy rules.
--––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Technical analysis on XAUUSD H4There are two possible trades for gold:
The first one being a sell after the formation of a double top for a confirmation of the flag pattern.
The second one being a buy after the break of the previous resistance. We will need a bullish candle to close above the resistance for confirmation.
Check my profile for more ideas ...
EURUSD possible upcoming distributionEU is reaching a significant daily resistance zone between 1.08 and 1.09. If it manages to reach 1.085 we can start seeing some more signs of potential distribution here (+fib 0.618-0.786 area confirmation). After that we'll start looking for SELL positions (preferable once we've broken the upcoming structures to the downside).
If that happens we can see the price reaching 1.066 (or a push to 1.055 is also a possibility) in the upcoming weeks.
However, if we'll see a strong momentum breaking 1.085 and going higher, this setup will no longer be valid and we'll start to look or BUY opportunities.
Happy trading!
Double Top Projection on FCPOA double top is a reversal pattern that is formed after there is an extended move up. The “tops” are peaks that are formed when the price hits a certain level that can’t be broken. After hitting this level, the price will bounce off it slightly, but then return back to test the level again.
Entry order & position to take
With the double top, we would place our entry order below the neckline because we are anticipating a reversal of the uptrend. As we are anticipating the price to be going down, we'll take short position (sell high now, buy low later)
Target Profit
The drop is usually approximately the same height as the double top formation which is shown by the red arrow allowing us to maximize profits from this trade by setting up our target profits.
Protective Stop Loss
As a protective measure towards the unfavorable price movement, we could set stop order above the peaks of the double top.
SHORT ON EUR/USDDouble top from a major area of resistance.
The dxy is also currently increasing in strength which will cause this pair to fall further.
Here is the play I will be taking on this trade.
P = 1.07066
SL = 1.07671 - 52 PIPS
TP = 1.05309 - 179 PIPS
USOIL BEARISHwe still continued from the last analysis to reach level of 128 again, but now we have reached a strong resistance that gives us an opportunity to sell with the correction until retest112
$SUSHI - Double TopHello everyone!
SUSHIUSDT might continue the downside move from here if closes below 1.59
Best of luck with your trades!
AUDUSD Short Setup - Double Top 4 HourHi Traders,
Happy Wednesday!
Today, I am looking at the potential double top we have playing out on AUD/USD in the 4-hour time frame.
We can see that price has been in an ascending channel and following along the ascending trend line.
We may have broken the trendline but we need to see full confirmation by seeing an impulsive close below the yellow neck zone.
If price and volume show a decent impulsive move that closes BELOW the neck zone, I will then be waiting for a retracement back up into the neck zone.
If the retracement happens, I will then and only then open up a short position with two targets.
Remember, volume is key.
We have divergence on the MacD,
We see buyers are weakening out on the MA Lines as well as the histogram.
This just adds confluence to our setup but we need to see that impulsive close below the neck zone.
First target – 0.70 with a risk to reward of 1.3
Second target – 0.695 with a risk to reward of 1.5
Trade safe out there!
The Vortex Trader
