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Reversalpattern

EURAUD | Perspective for the new weekWill the market risk appetite continue to take its toll on the ‘Aussie’ as a reversal setup evolves? The Euro continued to exhibit strength since November 2021 and a Breakout of Key level structure during last week trading session could be an avenue to look for buying opportunities in the coming week(s). Now, what are my expectations? Tendency: Uptrend (Bullish) Structure: Breakout | Supply & Demand | Trendline | Reversal pattern (Double Bottom) Observation: i. It is no doubt that the overall perspective on this pair is bearish with the bearish trendline going as far as April 2020. ii. However, since price tested A$1.535 in November 2021, the price has continued to finder higher lows which culminated in what looks like a successful breakout on the 26th of November 2021. iii. Following this breakout, the price touched A$1.615 to respect the bearish trendline on the 2nd of December 2021. iv. The bearish momentum following the touch of A$1.615 appears to have reduced as we continue to witness rejection of the A$1.56 area to confirm a Demand zone is mature. v. And if we look closely, we will notice that the rejection within the demand zone shares a confluence that respects the new Bullish trendline to signal a possible reversal set-up. vi. A visual representation of a trend after connecting a series of prices with a line drawn under pivot lows shows the prevailing direction and speed of price in the last 3 months. vii. Now, the appearance of a Double Bottom within the identified Demand zone which also shares a confluence with the new trend describes a possible change in trend and a momentum reversal from prior leading price action with confirmation at Breakout of Key level (A$1.5800) which is also the neckline of the pattern. vii. The early hours/days of the new week might see a drop in price into the key level to incite a Trend continuation. viii. Hence, it is appropriate to state here that, above key level @ A$1.5800 remains the most comfortable place to open a long position with an opportunity to add to our existing position at a breakout/retest of A$1.59500 level... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 400 pips. Risk/Reward : 1:3 Potential Duration: 5 to 12days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
4
EURCAD | Perspective for the new weekMy perspective on this pair is going to be the opposite of the majority in the market as my research reveals that the big wigs are doubling down their position against the new week. Technically, with the strong support @ C$1.415 area; I foresee a short term gain for the Euro which might be a retracement of the overall bearish momentum or a possible move for an outright north in the coming weeks. Tendency: Uptrend (Bullish) Structure: Supply & Demand | Reversal pattern (Double Bottom) Observation: i. It has been a Bearish run for the Euro since mid-September 2021 where the CAD recorded a 6.20% growth in the last 4 months. ii. I am of the opinion that prices have found a bottom. Why? Well, since the price touched the C$1.451 area in November 2021, we have witnessed multiple strong rejections depicting buying power from this area. iii. The highest point buyers have moved the price from the demand level is C$1.46 area (over 400pips move); this feat is recorded on the 20th of December 2021. iv. Immediately price touched C$1.46, a downward spiral occurred which evolve into a Double bottom pattern within the same demand zone (during the previous week trading session) which based on past experience I have considered a strong area for the buyers. v. Double Bottom: The appearance of this reversal pattern at this juncture in the market describes a possible change in trend and a momentum reversal from prior leading price action. vi. In this regard, a breakout/retest of key level @ C$1.43 (neckline) will be a comfortable area for us to open a long position on this trade in the coming week(s). NB: It is appropriate to state here that this is a counter-trend trade hence the need to be highly alert during the course of the trade as any bearish momentum could send the price crashing. .. Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 350 pips. Risk/Reward : 1:4 Potential Duration: 10 to 15days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
1
USDJPY possible reversalDaily TF - Market has been moving in an ascending channel since Jan 2021 4H TF - It is forming a ascending channel and it has recently done a double bottom and moved impulsively to the up side. 1Hr TF - After the impulsive move to the upside market formed an ascending channel that touched a previous level forming a double top and consequently moved impulsively down breaking the ascending channel, now correcting and possibly continue further down at the break of the current correction. This goes in confluence with the dollar index analysis.
Short
by GonzeeTrading
The Downside is Still in, for now at leastI am starting to use Renko to see optimal prices and detect a flip in sentiment. #1 Bitcoin and Ethereum seem to have a very similar trend on normal/Heikin charts, crab markets followed by an emotional institutional leg up or down. If you've been here since the beginning, you'd know there's a lot more going on behind the scenes, like futures contracts, flash loans, DeFi, you name it. A note for myself and whoever may come along this simple analysis: Watch Renko trends intraday and see where you can enter. I'm almost certain the major cryptocurrencies will have some rollercoaster action next quarter, probably a tad later.
COINBASE:ETHUSD
by jarvisXBT
DXY 96.04 - 0.43 % SHORT IDEA * PRICE ACTION & REVERSAL PTTNS HELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE. NEW WEEK, NEW OPPORTUNITIES. LOOKING AT THE DOLLAR INDEX * The INDEX is currently trading in a RISING WEDGE , testing the ROOF of this structure. - Short term the pair has currently entered an uptrend on the 4h chart this. - A break above and close will invalidate the whole set up. - Looking for SHORT entries on the INDEX this week should all the rules of the formation be met. lets see how it goes IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE SMASH THAT LIKE BUTTON & LEAVE A COMMENT. ALWAYS APPRECIATED ____________________________________________________________________________________________________________________ * Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. _____________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - SWING TRADE
TVC:DXYShort
by PULEMokhothu
NQ Power Range Report with FIB Ext - 1/25/2022 SessionCME_MINI:NQH2022 - PR High: 14499.25 - PR Low: 14402.75 Evening Stats (As of 1:11 AM) - Gap: = N/A - Session Open ATR: 406.37 - Volume: 97k - Open Int: 242k - Trend Grade: Neutral - From ATH: -15.0% (Rounded) Key Levels (Rounded - Think of these as ranges) - Long: 15550 - Mid: 15247 - Short: 14360 Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
CME_MINI:NQH2022Long
by mv3trader5
GBPCHF | Perspective for the new week The British Pound has been gaining momentum since the beginning of December 2021 against this Swiss Franc and price action in the last two weeks might be a retracement in favour of a Bullish momentum in the coming week(s). Tendency: Uptrend (Bulliish) Structure: Breakout | Supply & Demand | Trendline | Reversal pattern (Double Bottom) Observation: i. Since the 6th of December 2021; the British pound recorded a 4.5% growth in value against the Swiss franc to suggest that a Bullish momentum is evolving. ii. Price appears to have found a bottom at Fr1.21 and have since been finding higher lows which culminated in a successful breakout of key level @ Fr1.23 in the latter part of December 2021. iii. Technically, the appearance of a pattern that describes a change in trend and a momentum reversal from prior leading price action at Fr1.21 appears to be confirmed as soon as we witnessed a successful breakout (Fr1.23) of the neckline which is also the key level. iv. Immediately price hit Fr1.26 area on the 11th of January 2021, we witnessed a downward spiral in price action which I presume to be a retracement of the breakout move (Impulse leg). v. Hoping to join a potential rally in the coming week(s) if price retests Neckline as I am expecting a price plunge into a new demand level (identified on the chart) in the early hours/days of the new week. vi. In this regard, I have identified zone around Fr1.235/1.22 for buying opportunity... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 350 pips. Risk/Reward : 1:5 Potential Duration: 12 to 20days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
BTCUSDT: Dragon above the cloudsHello traders! The holy MTFKR Dragon has shown up and this is not just here to hunt small traders, Its here to Hunt the Whales. Investors were confident that Whales are buying BTC so it must be a good time to invest but no one saw Dragon which was hiding behind the clouds and it was aiming to hunt the whales. The scary Move is not yet over, we will See more dump in all coins. Currently, we can see a breakout of supportive trendline and I am expecting a 3 step formation before Mega rises. I am expecting exactly the same pattern that I have drawn on the chart. The true reversal point is 30900 and I am sure that it will be pinpoint accurate and the market will hit and run 30900. Those who are thinking that BTC will go below 20K then I should tell them we will not see BTC below 20K because the pattern is not completed. When Bitcoin will break All-time High then it will decide whether it will come back to 20k or it will never look down again. Sorry for today's loss as the market was unpredictable or you can say previous wins made me a little overconfident because if I had dug deeper I should have cracked some profitable trades. Well, no worries every move is now predictable and we will enjoy these moves. Don't forget to hit the like button and follow to stay connected.
Short
by Aadil1000x
18
The Power of DojiA Doji is created when the open and close for a price are virtually the same. Doji tend to look like a cross or plus sign and have small or nonexistent bodies. From an auction theory perspective, Doji represent indecision on the side of both buyers and sellers. Everyone is equally matched, so the price goes nowhere; buyers and sellers are in a standoff. When it comes in a downtrend it act as a reversal pattern so we know that the bears power is weak, and bulls start to take control thus the price will go up and the trend will be up , when it comes in an uptrend the bull power is weak , bears starts to take control and price will eventually go down . But in technical analysis you cant enter a trade only from one sign so you should know you Support and Resistance area, draw your trend lines, use some indicators, and when you see the Doji know you know its the perfect time to execute the trade.
Education
by Tradewithmoe
EOSUSDT , POTENTIAL UPTREND REVERSAL Hello Traders :) - Please push the like button if you like the content or drop a comment to share your idea! - EOS on 1D time frame chart is trading inside a falling wedge since starting September 2021 making lowers lows and lower highs , sellers are still in control and buyers are getting ready to defend there strong support zone ( demand zone ) 2.3$-2.5$ , buyers meanwhile failed to break on the non-horizontal local resistance around 2.9$ taking price lower to the intended support zone. - On 4H time frame chart we can see that EOS was trading inside a falling wedge ( continuation pattern ) and took the price lower to the strong support zone mentioned earlier. - Buyers will gear up on the strong support zone 2.3$-2.5$ hoping to see a good amount of buying volume in order to take the price high to level resistance 2.9$ ( last swing low ), if succeed buyers will keep on moving up to the strong non-horizontal resistance around 3.6$ , would like too see a great breakout ( our trigger ) off the falling wedge which will take price higher to level targets of 5$ and 7$ respectively. - Until now we are still bearish waiting to see the buyers reaction while the market sentiment is suggesting fear and due to BTC volatility. Good Luck Traders!
Long
by Johnny_a88
2
USDCAD 1.25518 + 0.47 % LONG IDEA * PRICE ACTION + STRUCTUREHELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE, HERE'S A LOOK AT POSSIBLE SCENARIOS THAT COULD PLAY OUT IN THE COMING WEEK ON THE DOLLAR / CAD PAIR. * The PAIR is currently trading in an ascending channel but seems the channel now consolidating in a descending channel within this structure That just saw a test of the base of structure. - Short term the pair has currently entered an up trend as WE broke above the double bottom formation on the 4h chart. - There is a demand zones to look out for on the pair at 61.8 % fib before we continue with the bulls. * A break below of this level changes the plan and we await the market to show us direction. - Looking for LONG entries on the pair this week should all the rules of the formation be met. HERE'S WHERE WE WHERE ON THE PAIR LAST WEEK. lets see how it goes IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE SMASH THAT LIKE BUTTON & LEAVE A COMMENT. ALWAYS APPRECIATED ____________________________________________________________________________________________________________________ * Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. _____________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - SWING TRADE
Long
by PULEMokhothu
US500 4667.5 + 1.85% SHORT IDEA * CONTINUATION PTTNSHELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE, HERE'S A LOOK AT POSSIBLE SCENARIOS THAT COULD PLAY OUT IN THE COMING WEEK ON US 500. The index opened the week with a bullish reversal to test- 61.6 % fib ( 4675.00) * The index is still strongly bearish looking at momentum to the down side * Tested and rejected 61.8 % Fibonacci level signaling continuation * Broke below of structure. - looking for continuation with the bears. lets see how it goes. IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE SMASH THAT LIKE BUTTON & LEAVE A COMMENT. ALWAYS APPRECIATED ____________________________________________________________________________________________________________________ * Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. _____________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - SWING TRADE
UShort
by PULEMokhothu
1
GBPJPY | Perspective for the new weekA hawkish BoJ rate hike amidst a strong UK GDP and Industrial Production figures might propel the Yen to new heights as the Pound looks set to end the following week(s) in the trenches. Technically, with the sight of reversal set-up (triple top look-a-like) at the JY156 zone, It is becoming obvious that the demand zone has lost the momentum to push the price above JY157.5 and the successful breakdown of Key level @ JY156.5 during last week trading session gives a significant clue to the strength of sellers at this juncture in the market. This could be as a result of "quick sell" activities from traders who took advantage of the bullish run... Let's see how it goes!😁 Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Reversal pattern (Triple Top) Observation: i. With a 5.5% growth in the value of the Pound; It has been a Bullish run in the last 3 weeks and the price appears to have found a peak at JY157.8 - an area that has a memory for selling opportunity (as far back as 2013 - see weekly or monthly chart). ii. And since price hit peak @ JY157.8, we have witnessed multiple rejections which culminated in a breakdown of Key level @ JY156.5 during last week trading session to signal a downtrend continuation. iii. The appearance of a reversal set-up in the form of a Triple Top pattern - three peaks moving into the same area @JY156, with pullbacks in between indicates a possible slide in price in the coming week(s) after the price moved below pattern support (key level). iv. In this regard, I have created a new supply niche around JY156.5/157.0 should the price climb in the early hours/days of the new week with the objective of looking for reversal set-ups for a signal. v. Below Key level @ JY156.5 remains a comfortable area to open a short position with the option to add to our existing position at a breakdown/retest of JY155.5. CAUTION: Considering the bullish momentum in the 3 weeks, it is appropriate that we remain open to the possibility of a significant breakout of JY157.5 which shall be enough to negate the bearish narrative... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 350 pips. Risk/Reward : 1:4.5 Potential Duration: 5 to 12days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
EURUSD | Perspective for the new week | Follow-up detailsWith over 100pips in our direction since my last publication (see link below for reference purposes); we witnessed a successful breakout of the supply zone to set the tone for a potential rally at least in the meantime. It is no news that the USD collapsed against the major pairs during last week trading session, and the catalyst for this scenario is the US inflation as the Consumer Price Index was confirmed at 7% YoY in December - the highest since 1982. In this regard, I still maintain a bullish perspective at least to a 61.8% retracement of Bearish Impulse leg on the weekly chart. Tendency: Uptrend (Bullish) Structure: Breakout | Supply & Demand | Trendline Observation: i. Since hitting bottom @ $1.12 on the 24th of November 2021, we have noticed a gradual bullish momentum as the price continue to find higher lows which culminated in a successful breakout of the Supply zone and Key level @ $1.135 to give the bulls a favourable environment to add to their existing position. ii. Spiced up by poor US data released throughout the week, the price continues to respect the Bullish trendline. iii. Trendline indicated on the chart is the visual representation of a line drawn under pivot lows which reveals the prevailing direction and speed of price action in the last 47 days. iv. The breakout of the key level was met with rejection at $1.148 which gives me a sign that we might be witnessing a retracement of the impulse leg. v. So, with this information; I am looking forward to the completion of retracement around my new demand level cited around $1.12850/$1.135 to join the rally. vi. However, it is worthy to state here that should price decide not to go as far as the new demand level identified then a bullish reversal set up on a lower time frame could be a signal we should be looking out for in the coming week to long... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:3.5 Potential Duration: 4 to 10days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
GBPCHF Bullish probability ifDaily - Price is stuck in a descending channel, and almost hitting the top of the channel. -> indicating possible reversal if moved impulsively to the downside. 4H - Price is in an ascending channel and on the LTF forming a descending channel indicating reversal if the LTF channel broken higher. 1H - Wait for the break and continuation pattern must proceed, and the reason for that is because the price has moved impulsively downwards, and only an impulse followed up by a correction continuation would indicate further momentum of the reversal.
Long
by GonzeeTrading
EURUSD Bearish reversalHTF - Price has been stuck in a descending channel since June of 2021 in the 4-hour TF. LTF - Price has recently broken HTF structure but formed a weird head and shoulders pattern in an ascending channel, which indicates reversal, + price has moved impulsively inside the HTF structure adding confluences to momentum reversal. Now the only thing we need to wait for is a continuation correction pattern in order to make a trade expecting further downside momentum.
Short
by GonzeeTrading