After hitting resistance of bear flag that pair is potentially forming on weekly
It has now formed Bullish Three point correction wave, representing a Bearish Alternate ABCD pattern on 4H time frame.
and Bearish Gartley on 4H as well
Last post: May 25th. See chart.
Review: Price was continuing to weaken as the bears remained in control of the market.
Update: Price pulled back to resistance and the bears are now back in control with good weakness towards the end of the week.
Conclusion: A break and close below the draw-in pivot support is still required and ideally in the form of a bear...
The double bearish flag can be seen, also this has been confirmed by the falling wedge. This does mean that it would be best to keep an eye on the market as the price is going to most likely breakout the resistance top of this falling wedge eventually. Looking at the RSI and chart patterns I believe that the price is going to fall as it does not look like it has...
Last post: May 16th. See chart.
Review: A continuation of the bear trend was likely with the confirmation of the bear flag.
Update: Price has indeed weakened further with another bear flag a possibility by the end of play today.
Conclusion: Another bear flag will mean further shorting opportunities as price continues to weaken.
Any comments or questions,...
A second bearish flag has started to form on this currency pair, the first had a strong drop in price after the pattern had fully formed. I believe the same will happen for this bearish flag, I think once the pattern has fully formed the price would take another big hit. I will keep everyone updated about any signals on this currency pair that may occur over the...
Last post: May 13th. See chart.
Review: Price had pulled back to and was bouncing off resistance.
Update: We were wanting a breakout in the form of a bear flag. 2 more days of weakness means the bear flag has been confirmed.
Conclusion: A bear trend continuation is now likely offering further shorting opportunities.
Any comments or questions, do not...
Last post: May 7th. See chart.
Review: Price was pulling back to round number 110 resistance.
Update: Price continued to pullback and is now at 110 resistance.
Conclusion: Require price to bounce off resistance and break and close below April support ideally in the form of a bear flag.
Any comments or questions, do not hesitate to leave them below. Hit...
Another long term log chart, this time it's ETH - which, like BTC, is mostly a continuation pattern of bull flags going back in time.
How you choose to determine the current trend is up to you, a series of bear flags? Or one big bull flag?
Want to see a scholar BEAR FLAG? EURCHF has a beautiful one on the daily chart. And it broke last week, so I would look for the pullback to initiate a short because the target is quite far as it coincides with the start of the said flag. I delimited the flag with the 2 blue trendline. This is also the first serious support below spot level....Is a new trend...
Short trade opened on FX:GBPUSD.
Upward trend line has broken. Price is now stalling around a previous daily demand zone.
- Pin bar
Price has printed a 4hr pin bar suggesting a potential reversal.
- Bearish Flag
Bearish flag pattern on the 4hr suggesting a short continuation.
The 1hr is still bullish so entry could be really early here but the...
This pair has been channeling for a very long time within a bearish flag pattern.
This pair seems to be breaking out of the channel
Price has also tested the previous low.
A break and close below signals a move down.
Some conservative traders, will prefer a break and resets of structure