Despite a strong bullish candle, the presence of a Bearish Shark Pattern retest on USDJPY is intriguing.
However, the trader advocates waiting for further confirmation to engage in a shorting opportunity on USDJPY, treating it as a retracement trade.
What's your take on the potential trade for USDJPY?
In comparison with EURUSD, GBPUSD appears more attractive for a counter-trend trade, featuring a Sideway Bounce trading setup.
The plan is to wait for a market retest at 1.2608 before entering a buying opportunity.
What are your thoughts on this potential trade?
In the prevailing bearish trend on EURUSD, if you're on the lookout for a buying opportunity, consider a counter-trend trade to go long at 1.0779.
Of course, patience is key, and waiting for additional trading setups might be necessary.
Share your thoughts on this potential trade!
The candlestick pattern indicates a positive divergence since the stock is in the accumulation stage before proceeding to an uptrend movement. The upper limit triangle-like shape indicates price resistance when prices move up the result of the price action should increase in volume.
The MACD and RSI indicators confirm the candlestick pattern which indicates a...
The candlestick indicates a divergence pattern with results in volume towards the next price resistance. The upper limit channel provides a signal for entering a long position hence a price breakout towards the resisance.
MACD and RSI indicators confirmed the candlestick pattern signal.
Let's save MYEG in WL and watch out for the price rally-up action with...
TSLA shares are trying to react today, and this is something that could signal a recovery, which is understandable, given how much the price has fallen in recent weeks and how oversold the stock is at the moment.
Since the last top in December, the stock has plummeted almost 30%, breaking all its medium-term supports, materializing a downtrend. I say the price is...
GBPUSD is currently experiencing a sideways movement. If you are seeking a buying opportunity, pay attention to the bullish trendline on the 4-hourly chart.
Ensure that the candlestick does not violate the trendline before considering a buying opportunity.
What are your thoughts on this potential buying setup for GBPUSD?
Like many others, NASDAQ:NFLX has shifted to a wide sideways trend ahead of its earnings report today after the close. There is no pre-earnings run here. Current volume and price trend are not patterns that inspire a good earnings surprise.
HFTs are always watching news ahead of open on high-profile stocks to get ahead of retail market orders. A gap is likely...
The candlestick indicates a price fluctuating between consistent highs and lows as indicated by the resistance and support channel whereas the channel benefits as a guideline to predict price peaks and troughs. The price is within the lower channel and provides a buying opportunity.
From the previous trades, there was no significant result in volume. Where the...
Hello guys, I hope you are doing well.
Gold moved up from a four-hour demand area with the confirmation of the hammer candle that I told you yesterday, it has now reached a four-hour supply area, which I refined to the 1-hour and 15-minute areas.
-If the four-hour candlestick above the dashed line I drew closes, other sell positions have higher risk.You should...
EURJPY presents an interesting scenario with a potential combo trade, or is it? Let's break it down:
1. 4-Hourly Bearish ABCD Pattern:
- Retest completion at 161.74.
2. Daily Bearish Bat Pattern:
- Completion at 162.55.
Two patterns, two different starting points. Is it a combo or a dual setup?
Share your thoughts and let's navigate this intriguing trade...
GBPUSD is setting up for a potential combo trade. Keep an eye on:
Bearish Shark Pattern:
Timeframes: 15 mins and 1-hourly
Completion: 1.2708
What makes this interesting is that both Shark Patterns have different starting points.
Exercise patience and wait for candlestick confirmation. Share your insights and trade plans on GBPUSD!
NYSE:HD benefited greatly from the pandemic lockdown and the numerous stimulus checks that over-stimulated all nations' economies.
The stock has now moved above its trading range and has sustained, aka held onto, those gains.
This patterns out the excessive revenues and earnings that were inevitably unsustainable for all of the companies that benefited from...
Hello friends.
Hope yore well.
Lets take a quick look at Gold :
1.we approch a mid-term valid trendline and it can be considered as a pullback to this line.
2.as you can see price bounce from this trendline with a strong engulf candlestick.
3.a short-term trendline breaks too and we saw a pullback to it as well
4.Also we can see a Bullish Divergence in oversold...
The bearish move that we see in this chart, which started on September 28th, has formed two bearish channels, preventing the price from going higher seven times so far.
As you can see on Friday, January 12th, with the geopolitical news from the Red Sea conflict, the price attempted to form a bullish breakout of the smaller channel but got rejected from the larger...
We can clearly see in this chart that the price has reached the upper boundary of a bullish channel, where it would encounter selling pressure.
As a result of this selling pressure, the price on Friday, January 12th, formed a bearish impulsive candle. Following this candle, it managed to break below the short-term bullish trendline that the price had respected in...
In the world of trading, never underestimate the power of key support and resistance levels.
These levels often become the battleground for market movements, forming a Sideway Bounce Trading setup.
On my radar for AUDCAD:
- Buying Opportunity: Watch for potential long entries at 0.8931.
- Shorting Opportunity: Keep an eye on the chance to go short at...
