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Bearish cypher pattern and bearish divergence, Short!Eurusd hit resistance and did complete a nice cypher pattern, adding to that there is bearish divergence on the MFI. Time to short it, i've put on a horizontal target for now, general targets however are the 38.2 fib and 61.8 fib for harmonic patterns. i've put the fib up aswell so you can gauge where you want to take profit yourself. Trading @swingfish.trade, Join the Community! Its free! www.swingfish.trade Lending/Investment: www.enfoid.com Prop trading: www.enfoid.com
Short
by btmeerhof
EURAUD is preparing somethingHello everyone, we can see a kind of breakout of 1.45 level, is it false or pullback for a continuation? I can't tell. I need more signal to decide about which direction to take. For now it seems coming back into the channel. if so, I will go short and target the support level for TP, SL somewhere near 1.46 Notice, this level have been holding price for a very long period of time. Since april 2015, price usually test it first. Not easy to break a psycho level like 1.46 Since november 2016, price is trapped between 1.45 and 1.46. For now, no decision have been taken
by nkanven
1
Time to short before next BTC surge! Nobody wants Eth for Xmass chart analysis - Trend - Bear 26 out 28 three day Candles RED - 3 months non stop price is going down. A recent rejection at Resistance which has happened multiple time consistently over last few months in a few defined descending channel Overall Market sentiment Unnecessary hardfork splitting chain, multiple bugs, no apps except the notoriously failed DAO and notoriously delayed REP. The fundamentals are poor, will need constant good news & a working chain long term to reverse market sentiment. Ethereum has been in free fall for sometime. it recently traded at $5.88 to the ETH, a 7 month low. that was from its previous level of $12 at the end of October 2016 to nearly half of that as of Dec. 6, 2016. Since china meetup 3 months ago where price was at 2400 recent low was 750 with the BTC ratio taking the biggest hammering, when btc has gone down or been sideways Eth has continued to go down in BTC ratio. There was a big short squeeze at the bottom with bigger short positions from months back taking profits & thin book cause a fomo with some speculators buying back in. Why is it falling ? at least four hardforks or more, lost count. which have left investors impatient and exhausted. it started forking at the DAO hack & never stopped. The proverbial last straw seems to be November’s accidental hardfork, which resulted in Ethereum’s two main clients, Parity and Geth, losing consensus. Market sentiment is very bear. there is no reason for that to change anytime soon.
Short
by Greenhill
2
EUR/AUD Long Position 4H Strategy - V.SimpleThis current LONG order is based off my 4H trend following strategy. I use the 40MA as a support barrier and LONG orders can only be made when 40MA is above 120MA. Trade entered at the end of 4H close (17:00 GMT+1). SL will be move to entry (£0.00 loss if hit) after 4 x 4H candles (16H) if price is above, otherwise I will take the full loss. Second SL move will be move to the bottom of a candle that has crossed back below the 40MA. Profit will be taken if price continues to hit moved SL otherwise the above action will be repeated until SL is hit as shown on previous trade (13/10 10:00 GMT+1) Please follow for education purpose only, Comments are appreciated and can help develop this strategy
by RenkoBuddy
LONG $YEN - RISK OFF & 2ND MOST IMPORTANT SUPPORT LEVEL @105.5*Long $JPY, preferably buy limits at 105.5* 1. at 105.5 there are 3 significant UNSUCCESSFUL tests of the level over the last 3 years thus it is a great entry point. Also another plus is if you look at the monthly chart you will notice 105.5 is the 2nd most important level in $Yen's 20y+ history, the 1st most important/tested is the 101 level. 2.Further, over the last 3 years the level has been tested 4 times in total and it only broke once when USDJPY rose to 127 so that means LONG at this level has a 75% chance of success (based on the simple discrete math). 3. By looking at this weekly chart we can see JPY has a habbit of making ONE large RED candle before pulling back several smaller GREEN candles.. this week is one of them big red candles so bar patterns suggest a price retrace is likely. 4. as you can see the weekly bar has closed below the 5 year -3SD (and -2SD 2.5year) once before, by the red bar 5 weeks ago which was also at the 105.5 support level- at which point USDJPY rallied back up to 111.5 from 105.5 after closing below the -3SD and -2SD line and on the 105.5 so we could see topside like this again. - in addition to this, it is worth noting that the 5y -3SD blue line that was violated but rejected 5 weeks ago and is being tested again, based on normal distribution theory, says that prices touching this line have a 99.5% probability of reverting BACK UP towards the mean at 122.5. The -2SD 2.5year line that was also violated has a 95% probability of retracing up towards the mean at 126. 5. if this level doesnt hold things will get interesting, if JPY can get to 101, this level will be all but unbreakable, it sits in the middle of all the prices, and is USDJPY's history mean - so depending on your Risk levels i would say they are limited to 450pips from 105.5 to 101 as 101 level will not break. 6. Because of these key levels be careful to place tight stops as liquidity will be thin after these key levels, and if 105/101 is broken, there will be massive long squeezes - where 50% of the markets' long SL is hit which causes further selling - so keep tight stops otherwise a 105 break will see 103 and a 101 break will see 99. For more fundamental reasons why $YEN long is a good trade please see the attached article where i go into detail on the fundamentals that support the long.
Long
by QuantumLogicTrading
Divergence, again, on USD/CADAlthough in a healthy uptrend, USDCAD has run into resistance at ~1.3070 which happens to be a price level on the weekly chart that has previously been tested (as support in April 2004 and resistance in March 2009). Price closed below this level on Friday as a high test bar. Coupled with bearish divergence on the Stochastic and RSI indicator a price action behaviour is suggestive of bearish sentiment. Judging by the optimistic Fed outlook to raise interest rates, and positive expectation from the US economy from improving economic data, a stronger US Dollar is likely to continue. The following short setup banks on a technical perspective to take advantage of a sell signal; potentially a temporary run. entry - below low of high test bar stop loss - above high of high test bar target - previous level at ~1.2771
Short
by amanpaulbhogal