ANOTHER TRADE WITH MULTIPLE TIMEFRAME CONFLUENCE!! (VERY SIMILAR TO THE NZD PAIR) #TOPDOWNANALYSIS
The weekly timeframe indicates a downtrend. Anticipation of a further Bearish Indication could also enable a long-term SELL opportunity.
•1W - Current Market has reached the top of the weekly Trendline . The closed candle demonstrated suggests that a rejection...
Currently USDJPY is looking to be a short position as its broken trends and resistance zones if the price retests to the previous support and respects it as a resistance level the price should continue to go short however if it breaks back into the upper resistance zone i will lead it back into the trend that it broke out of and is a possible long position.
In tradition of the previous happenings of MCO I do expect a downtrend until the previous floor at around 0.000550 - 650. This will likely change the last time when the Visa cards for the US region finally will ship.
Careful - MCO has proven to be always good for a surprise, so an unexpected happening could interrupt the downtrend.
*No financial advice.
WTI (Crude Oil)
A Head and Shoulders pattern was negated last week and now the uptrend is broken.
Looks like we have more room for a down move until the blue line gets hit. At that point we can see a reversal or a bigger move down.
We closed a Short position today marked with the arrow since we want to wait for confirmation on the next move.
this idea will only run if we get some positivity over the ongoing trade wars with china
my idea is for price to break 6.72600 region retest and to carry on bearish
price is under the 200 ema
Candlestick formation looking bearish
us china trade wars is looking to get negotiated which will be great for china
we have a descending triangle that has been respected multiple times.
I'm predicting when price gets to 0.95400 it should reverse and carry on the down trend
im expecting price to hit 0.94330 and possibly break out to further downfall.
- No major new highs since strong downtrend
- Retesting .72400 region
- False breakout may reverse price back into previous resistance
- May continue reversal from weekly downtrend at .73900
- Target 1: 0.71900
- Target 2: 0.71600
- Target 3: 0.70900
- Stoploss: 0.72350
USDNOK recently saw downside after coming into a key weekly trendline resistance combined with the Norges Bank (the central bank) talking about the potential to hike interest rates in 2019 as their economy continues to grow. Looking to the USDNOK pair technically we can see the market created new lows after rejecting the weekly trendline resistance. Using our...
-on weekly quite strong resistence almost reached ( order for sell already prepared)
-on daily little bit of a move needed to trigger the trade
-stop based on fibs
-take profit based on structure mixed with fibs
- quite good risk/rewards ratio
- a 15min downtrend in motion if you trendline from the bodys of each candle, price action is now retesting this trendline.
- a fibonacci proves that price action is now retracing off the 61.8% level
- break of countertrend line shows downtrend is confirmed