Perfect bounce down from the trendline based on previous highs. Notice Stohchastic DMI turning down from the top at what everyone believes to be the bottom.
Previous two drops were comprised of 7 bars. This one has two so far with plenty of bull noobs to rek. The next bar (purple one) is trending downward, although it hasn't printed in a permanent fashion....
Reasons For
-Firstly after bouncing of 1.6000(Our key level) we have been very bearish as you can see
-Also we have been putting in Lower Lows and Lower Highs
-We have also cleared our key level at 1.55000 and have been putting in bearish movement
-Now we are trading below 1.5500 the only smart thing to do is to sell as we can clearly see strength to the...
Reasons for
- Clearly price is putting in lower lows and lower highs (Clear Downtrend)
- Price broke key level at 120.00 A week back so we maybe heading to next key level ?
- Price has put 3 touch on short term 4 Hour trend line
- Price put in doji the a bearish engulfing and clearly bearish candle then another bull green candle then another gearish engulfing ...
I personally have been short on this pair since December :)
Okay some may see this as a crazy setup but i believe US30 setup will fall to around 7000 in the next year or so
There are many reasons for this setup Fundamentals and technicals
FUNDAMENTALS
- jubilee year ?
- shemitah Year ?
- every 8 years a financial crisis
- FED raising rates to...
Head and shoulders. hello bear market. Get short and dont be afraid to hold. I stated in my other post recently about being careful in this market. Volatility is coming.
I've been watching this massive multi year 'head & shoulders top' take shape since the bounce at 1833 in August, after that big reversal that forms the 'head' at 2137. After today's sell off it's bearish potential should be undeniable to most. Considering the massive amounts of credit that have fuelled this bubble the debt deflation that will force the coming sell...
So ....
1.we have a strong trend line acting as RES
2.we had a fake break out
3. price has dropeed after the retest of trendline
4.bearish engulfing on previous 4hr candle
5.daily candle is a bearish hammer
Summary:
All signs are pointing to a significant breakdown in the AUD/JPY...
Commodity currencies are under extreme pressure due to a global slowdown and suppressed commodity prices.
In an extremely volatile and high risk market, investors will fly back into the Yen as a safe haven and dump commodity currencies.
We also have upcoming rate cuts coming out of...
It's hard to define exact levels of resistance around this area, but we seem to have a descending wedge into strong support here in the $210s, which should result in snap back up for a correction. After that is anyone's guess, but I'm still leaning toward a long term bear market.
Given the oversold condition, I would say a snap back to the $240s is likely. ...
IM ALREADY SHORT IN THIS PAIR BUT IF PRICE RETRACES AND TAKES ME OUT OF THE TRADE THEN THE NEXT LEVEL I'D LOOK TO SELL IS AT MY CLUSTER ZONE/SELL ZONE. IVE GOT LOADS OF CONFLUENCES AT THIS LEVEL WHICH ARE THE 0.5 AND 61.8 FIB, SUPPORT TURNED RESISTANCE STRUCTURE LEVEL, MAJOR TRENDLINE, DYNAMIC RESISTANCE (50 MA) AND A NICE PSYCHOLOGICAL ROUND NUMBER (1.03000)....
I'M ALREADY IN A SHORT POSITION BUT IF PRICE RETRACES UP TO MY SELL ZONE I WILL LOOK AT PRICE ACTION TO ADD IN ANOTHER POSITION AND TARGET 0.75000. I STRONGLY BELIEVE WE CAN GET TO THERE IN THE SHORT TERM BECAUSE THE LABOUR MARKET IN THE U.S KEEPS COMING OUT GOOD WHICH WILL HAVE INVESTORS/TRADERS SPECULATING A RATE HIKE AS EARLY AS JULY. ON TOP OF THAT AUD...
