GBPCAD Downside PressureGBPCAD is at a break and retest level. Hitting the H4 EMA, trendline, 1.8000 psych and 50 fib level. Looking for more downside pressure
Downsidepressure
AGIX - not looking good! Prepare for more downside.First of all, I acknowledge that I've changed my mind on AGIX short term price prospects (see previous post in link below). I acknowledged a risk of a pullback but the resulting move was much more decisive than I was expecting. The Bitcoin wobble has really sparked some sudden short-term reversals and hurt the technical charts of a vast number of coins, but it has also given hope to the strength of others (e.g. SOL). Unfortunately, AGIX is in the former camp.
Not making any predictions on medium- and long-term prospects (so AGIX hodlers: this is not for you), but from a short-term perspective this chart is now looking decidedly dicey. Some more shenanigans at the BTC front (see second previous post below), could see AGIX dropping into the $0.50s before bouncing. Also note that the AGIX/BTC gives the same impression:
I continue to believe the excitement around AGIX and the merger is not all hype, though and look forward to seeing it recover and mint a new ATH later in the year.
Starting new movement? USDT dominanc Triggeraccording to the previous analysis:
breaking out the trigger line could be a good confirmation for new positions and a rejection could be a profit save.
what do you think?
This analysis is solely for informational purposes and should not be interpreted as investment advice. Always conduct your own research and employ sound risk management practices before trading.
SPY Overnight Bounce to trap EARLY BULLS 🤔CME_MINI:ES1! CAPITALCOM:US500 CME_MINI:NQ1! CAPITALCOM:US100
Hourly consolidating in a bear flag. Incomplete bear count and looking for a one more low for Wave 5 followed by a big bounce. Not a buyer of first bounce after the big sell off.
One more low and stop out early bulls and trap late sellers and send it higher.
Spy-This is what’s going to happenPrediction-retracement to 393, down to 368 where the 200 week and golden pocket are located at, back up to test 382, then 338 minimum enjoy boys
NIFTY METAL - Bearish zoneNIFTY METAL - Bearish zone
1. It breaks the 1st support zone 4830 on the downside this week.
2. In a bear trap, the next support will be at 4490, and 4200 respectively.
3. Till it gets support most of the metal sector will be in a downtrend in upcoming weeks.
4. Example: TATA Steel will be on a more downtrend in upcoming weeks.
Note:
1. I’m not a SEBI Registered advisor, my research is personal and for educational purposes only.
2. Always check with your financial advisor and take the trade as per your risk/reward ratio.
3. Follow me for more patterns and like, and share so that we feel it is helpful to many and share more patterns...
Peloton: Pedalling all the way down!!Peloton
Short Term - We look to Sell at 14.90 (stop at 21.60)
The primary trend remains bearish. The continuation lower in prices through support has been impressive with strong momentum and shows no signs of slowing. We can see no technical reason for a change of trend. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 15.00 resulting in improved risk/return. Worse than expected earnings will add to bearish confluence.
Our profit targets will be 0.00. (Technical Crash)
Resistance: 15.00 / 17.00 / 19.00
Support: 10.00 / 8.00 / 6.00
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EURUSD SINKING FURTHERFor now Ill only be looking to catch shorts after another wave to the downside last night, of course we need to watch for a retracement or some sort of pull back before even looking at a sell trade.
ETHUSD - H4 - POTENTIAL BREAKOUT DOWN ?Recent price action is showing a growing uncertainty about the direction of the trend !
Indeed, last H4 closing level is once again showing a potential downside breakout of the
former uptrend channel.
Therefore, price action over the ongoing H4 period and more important its closing level
will validate or invalidate the breakout of the channel previously mentioned.
A closing level below the former bottom (@ 3'480) should be seen as an additional warning
signal, calling for further downside towards the H4 clouds support resistance area (currently
between 3'420-3'150) !!!
UPSDIDE :
In order to neutralize the ongoing downside price action, the ETHUSD should quickly recover and hold
above the cluster @ 3'600 !
As usual watch and monitor closely shorter intraday time frames to get intermediate clues which will help you
to act accordingly.
Have a nice end of the weekend.
All the best
Take care
Ironman8848
If these turn red - Expect Further Downside for BitcoinLooking back across the daily chart for the last two years paints a clear picture.
If this ribbon turns red then expect further downside at worst or further consolidation at best.
Long term everything looks fine but over the next week or two I can see more downside/consolidation as possible.
EUR/USD - Downside Continuation!! - Price is currently getting squeezed between my moving averages.
- Top side trend was respected and fell from that level
- Trend line plotted from lows also shows a break in trend.
- Price formed a head and shoulders pattern that broke out to the downside today.
- Price has retraced back into the 50 - 61.8% retracement level of todays range.
- Looking for the large wicks at the on the recent 4H candles to get filled to start the momentum to the downside.
GBPJPY BREAKS 131 SUPPORT : WHAT FOLLOWS ?The British pound ran into resistance again against the Japanese yen as it rallied towards the crucial 132 level. This is an area that has been important more than once, as it was previous support. At this point, the market looks as if it is trying to roll over again.
Outlook in GBP/JPY is unchanged as GBP is long-term bearish. Below 130.64 will target a test on 123.94 low. but a nearby target could be the 127 level.
One thing is for sure, the market looks as if it is running out of momentum to the upside in general, so having said that it is likely that the downside is going to be much more preferred.
Risk Warning : The risk of loss in trading Foreign Exchange (FOREX) can be substantial.
You should therefore carefully consider whether trading is suitable for you in the light of your financial condition.
Goodluck !
IOTABTC broke triangle 🦐IOTABTC broke triangle and retested it.
The price creates another little triangle below the main structure, if the price will do downside ''breakout'' could be create another great impulse
GBPJPY - Short - Take Profit 130.000Short trade recommended with a take profit of 130.000
Fibonacci Retracement at 0.382 struggling to break through the past 10+ days to the 0.5 retracement level.
The real test of this trade once reached is the 132.500 level which has proven extremely difficult to break over the past 10 days.
The upside today was based on a wave of fundamental news (Postive) and strong index performance across the globe seeing between 5% - 8% gains across the globe weakened the YEN. The evening seen a snap downwards due to minister being admitted to ICU.
I expect to see downside in Asian session tonight (Provided no positive news moving futures upwards).
USDCAD - SHORTUSDCAD - Ascending Trend line has broken and a rejection off the 50% Fib indicates a move towards the downside for UC
GBPUSD - Short #Forex #ForexAnalysisI see the £ really struggling with still no certainty that Britain will leave the EU with a trade deal in place.
I personally think they wont leave with a deal and i see nothing but bad news for the £
I know it seems a bit far fetched to predict the £ to fal this far and maybe it will fall to last years lows and maybe it wont but time will tell
Any questions feel free to ask
Bitcoin measured downtrend to reverse only if price breaks 8700 Bitcoin price cautiously moved down for the last week, with several tenuous rallies in the process. Price broke down the pivot support level at $8600 USD today.
The overall crypto market is still very weak. Until seeing a major break out above the downtrend line with strong volume, it's safe to assume bitcoin still has room to go down. The downward structure looks like a descending wedge, which is a bullish reversal pattern. However, currently, we don't have any bullish sign for the moment.
Horizontal support 2 : 8160
Horizontal support 3: 7650
ORBEX: GBPAUD Structure Hints To A Zig-Zag CorrectionIt looks like intermediate waves W (1.7563) and X (1.85) of the corrective zig-zag pattern have completed their journey.
The corrective intermediate wave X wave ended with a complex combination at a round resistance and between the 61.8FR and 78.6FR of the intermediate wave W
Intermediate W printed a minor a,b,c that most likely ended the first part of the zig-zag. With the second part also completed at intermediate wave X, we could be now expecting intermediate wave Y.
The current structure suggests that the low of this market can reach at least 1.7677, then the W low, and then, after a successful break of W, it could slide lower to complete intermediate wave Y anywhere below. The first stop from there would be the previous low at 1.7187.
Stavros Tousios
Head of Investment Research
Orbex
This analysis is provided as general market commentary and does not constitute investment advice.
MU Under Dark Pool Quiet Rotation™MU is in a Trading Range pattern at this time. The compression of that candlestick pattern in August is showing signs of heavier Dark Pool Quiet Rotation. The large lot long-term investors are slowly lowering inventories on MU over many weeks, and this increases downside pressure.
