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Downtrend

CADJPY Downtrend Analysis: Bearish Momentum ContinuesThe CADJPY remains in a strong downtrend after completing its first wave structure to the downside. The corrective wave offered no signs of a trend reversal, confirming the sellers’ dominance. Yesterday, during the Tokyo session, a new bearish wave structure began, breaking below the first wave's momentum low. Wave 2 formed as a correction to Wave 1, creating an opportunity to look for short trades below 108.614. A break below 107.65 (momentum low) is expected, with a Fibonacci target of 61.8% as a likely end for the current wave. Key levels to watch: Entry: Below 108.614 Target: 107.65 and Fibonacci 61.8% level Stop Loss: Above 109.05 Selling above 109.05 is not recommended. Like, comment, and share your thoughts. Happy trading!
Short
by Charts247TradingAcademy
5
8.3.2024 Platinum Weekend Pre Market AnalysisIt's the weekend. I like to go out to my larger charts and clean off the entire chart and start analyzing the instrument for next weeks trading. We know that price is going to move up or down from where it currently is located, so we just need to make up a game plan to trade it.. Looking out at the 4 hour, 1 hour, and 15 minute charts for our trend and target analysis. Then dialing it down to the 3 minute or 15 minute to look for an entry!
NYMEX:PL1!
by MoneyDuck_Butch
1
EURAUD I The Perfect Trade Set Up for This Week! Welcome back! Let me know your thoughts in the comments! ** EURAUD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
13
GBPUSD I Potential downside and important considerationsWelcome back! Let me know your thoughts in the comments! ** GBPUSD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
6
AUDUSD pivots suggest a short scalp`I believe that price is retracing bearish for its 4H higher low, in the meantime, intraday swings on a lower timeframe must correlate with becoming bearish. The 1H has already began creating lower lows and a lower high. I will monitor to see if price creates a higher high of gets rejected at a key neckline, resistance, trendline, and reversal area. There's a lot confluence in this area. Currently price is relatively close to breaching the bearish correction, indecision is needed, along with volatility and indecision or a reversal at a key area.
Short
by DesharedPierreJr.
CADJPY Trend Change, GBPUSD downside continuesToday, we are focusing on the CADJPY chart as we observe the final stages of the wavestructure. The recent pullback from the previous momentum high (3) has formed a significant pattern known as the structural failure, indicating a potential shift in the trend. Considering our trading rules, we have patiently awaited the completion of the wavestructure (5). Now, we have identified a sell pattern known as the Market Structure High, characterized by a formation of three candlesticks at point (5). Shifting our attention to the GBPUSD, we can see that it is currently experiencing a downtrend, with the price trading below the Momentum low (5). No trend changing pattern has emerged yet, suggesting that we should anticipate further downside movement in the cable. Enjoy trading!
Short
by Charts247TradingAcademy
AU providing a hint for a reversalAUDUSD is currently at its lowest point since breaking out of consolidation on last week. This week it may look to re-test the bottom of the range or the neckline of a confirmed double top bearish reversal pattern. However, the case, this pair is overall bearish. The big move will come from a short. I've noticed that its currently trading around the weekly support and has performed a higher high, would be a trendline break if price wasn't moving so fast but the moving average has already crossed to the upside. If that low holds as support, I'll look to buy to the 38.2 Price reversal zone (PRZ).
LShort
by DesharedPierreJr.
I'm correcting errors mid-weekI decided to publish a video about the recent trades taken and the aftermath. I believe that I see structure clearly, however my bias changes depending on the timeframe. I'll be ultimately bearish on Sunday and Monday, then decide I want to be bullish Monday night to trade up to the sell. I understand that counter trend trading is dangerous to the risk: reward portfolio. This video will be watched back 2-3 times by myself as I learn more about the market from "teaching" it. I'll also be posting more videos regarding pre analysis, leading up the decision to take the trade.
OANDA:XAUUSD
by DesharedPierreJr.
Bitcoin seeking re-test of Head & Shoulders after LOWERLOWBitcoin is seeking its Lower High on the intraday 4H chart after confirmed the break of a neckline from a Head and shoulders patters. Price is currently respecting structure. The Daily shooting star at the back of a retested trendline suggests that there is sell strength near the neckline of this patters. I will be monitoring the 1H for a the re-test however the volatility must show for this to be a valid sell. This bullish push is all apart of a weak momentum swing high. This setup will appear the clearest on 4H and 1H. I will take entry on the 30 or 1H.
COINBASE:BTCUSDShort
by DesharedPierreJr.
Gold is still very bearish Intraday and MajorlyGold is still completing a Double Top from a daily perspective. The Daily is forming a lower low. The 4H timeframe is also creating lower lows and lower highs which tells me that intraday is a sell as well. I believe the momentum is bearish and now is the time to capitalize on shorting opportunities such as this one. The 1h created a clear very strong lower low breakout. There's an area of interest on the back of a broken Daily Trendline. I'll be monitoring the 1hour as well as the 30min chart for shorting opportunities. Targets for this short is the next Daily support level which happens to be just above a weekly support.
OANDA:XAUUSDShort
by DesharedPierreJr.
Massive 4H short for the almighty BitcoinLadies and gentlemen, we have a clear as day Bearish reversal signal in front of our very eyes. Bitcoin has confirmed a double top pattern for the right shoulder of a massive head and shoulders. I'm looking forward to shorting the re-test pf a pivotal neckline. I'm projecting a decline of at least 3,000 pips over the course of the entire move. Price is looking to continue creating its daily Lower Low as well as a breakout from consolidation. This pattern can be seen clearly from the daily as well as clear structure breaks on the 4 hour timeframe. I will be analyzing the 4H for the setup however my entries usually come from the 15/30 min. sometimes the Hourly. However I anticipate a strong volatile swing bullish before the decline.
COINBASE:BTCUSDShort
by DesharedPierreJr.
Golden Evening Star for the Re-testGold is all overall Bullish. Long term. However, since forming a strong Evening star variation at an all-time high re-test my sentiment has since shifted from an uptrend to a short term and definitely intraday downtrend. The weekly chart is still bullish. I believe the Daily chart just formed its higher low, price will now either created a new higher high or attempt to. The 8 exponential moving average has crossed to the downside of the 21 simple moving average. There's a 4-hour double top at the weekly resistance. I have confluence at the neckline, 61.8, as a well as a valid indecision pullback.
OANDA:XAUUSDShort
by DesharedPierreJr.