A bearish bat setup for a trading opportunity towards the downside is considered as a trend trading setup. Having the PRZ to be within the emphasised sell zone is a bonus to the setup. For this setup, I will be stretching my Target2 as a trend-following trade. What's your trade plan? Comment down below.
While many traders see the bullish side of GBPUSD, I do see the possibility of a bearish movement. Introducing the ABCD Pattern. At Point D completion and with RSI at the Overbought area set in for a selling opportunity. All is needed is a confirmation candle that will set in at 10 am (+8GMT) to see if it will be a valid trade for me. Are you ready? I can't...
A bearish ABCD pattern set up for a trend trading trade and it is well resisted on the daily chart. The entire setup is within a bearish parallel channel based on the daily chart. Candle confirmation is required for me to engage in the trade. Another setup that I can consider to engage at 10am(+8GMT). Can't wait for Monday.
CAD/CHF poured down from the highs steeply. It hit the support level of 0.74854 and made a U-shaped correction. Now, it is at a critical price action resistance zone which could cap the rally. Hence, traders can sell on rise expecting a move to the support level of 0.74854.
Well this setup is interesting, it has a bearish shark setup and the light red box you see is not the PRZ of shark, that is the equal distant move indicated by the blue line. A way that I trade. So the estimation of completion of the blue line and shark completion is closed so I've decided to box it up and observe the movement, the candle close before I engage...
Price Action (Technical Analysis): After a bit of a crazy week for the FX Market due to Fundamentals. Price moves and closes at a very interesting zone which would be our Weekly Mid-Range Zone, this zone tells us that we can expect 1 of 2 options. If price breaks below this zone we can expect price to find its way to our New Support, let's say Sellers decide to...
USD/CHF is so close to the best place where we can open a SHORT entry. - Price bounced a few times on the trendline. - RSI OVERSOLD H4 and D1 - Trendline rejection I love such entries because risk-reward is good. GOOD LUCK and take entry according to your balance. Please support our setups with your likes, comments and by following me on TradingView, thanks!
In the last 2 months the USDCHF has created a Bearish Trendline. The price is now getting close to this Trendline and that sugfgests us that the price might be bouncing down again as it did in the past. Combined with RSI in Overbought condition and the MACD that is starting to form a cross, this makes a great Short opportunity.
Amazing Conjunction between Advanced Gartley Pattern, Fibs, ABCD Patern, Major Structure Level, RSI in Overbought condition All compiles in one place - 7120.., It would be interesting, don't you think ? :)
Dear Friends :) I have the last couple of weeks, warned you again and again about extraordinary high manipulation in the Bitcoin-market (BTC/USD). I received earlier today a link on Twitter to a blog on Steemit, where a guy documents, how a group of whales are discussing, how to manipulate a market. I therefore decided to spent a lot of time to analyze the last...
Following on from previous posts about hitting the daily RSI overbought area, I am beginning to see a slowdown, that may bounce off the 8300 support without dropping below the RSI Daily 30%. In which case a smaller upward trend will follow along with more sideways before eventually dropping. IE: the bounce back may take longer than I initially expected....
Looking at commodities which support AUDUSD, they look overbought. Adding to that the DXY situation, the USD looks supportive of potential strength. Sell AUD with good take profits at previous lows. Take profits could change depending on circumstances.
On the daily chart, it is showing that the market is hitting the daily resistance and the RSI is showing that the market is close to being overbought. On the 4 hr chart, it shows RSI being overbought and the 1 hr shows it being overbought again so that is confirmation that we will go short on this trade once an entry has been found. Currently I placed a mini...
...All points are shown in the chart.
From the last post in early April (see related idea). Price did not manage to complete the Harmonic Pattern and it dropped. This time around GBPCAD has been on the rise and has not reached a critical zone, completing the Pattern. Pattern Identification Completed a Bearish Bat Pattern at this current levels. Starting to have a bearish bias. The H1 RSI has also...
Hey traders, another analysis i really enjoyed today. This is one of my favorite style, for youhave to support your view by adding more and more clues (of value) to your side. Here on AUDNZD we are at a bigger Gartley completion, and we can see a nice AB=CD pattern and a Fibonacci cluster all right there. In addition to that, we also are in an OVERBOUGHT condition...
Hey guys, here on EURUSD we have a nice trading setup, since we broke below the most recent low and now we are pulling back to the resistance zone. I've outlined a box (between ex support and actual resistance) and in there i'm looking for a candlestick formation, considering we've already entered an OVERBOUGHT condition. Trade simple. If you have any question or...
EURUSD is about to form bearish bat pattern on Daily timeframe and if the bat pattern gets complete as we have predicted it will be right place to go short. We can also note that RSI condition being oversold, so it adds up to our confidence that bearish bat works in our favour. Being on daily timeframe this trade may take time for completion, so traders who can...