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Threefallingpeaks

Gold’s Bearish Setup – What’s Next for $XAUUSD?Gold ( OANDA:XAUUSD ) fell to $3,003 as I expected in my previous post . Of course, since this is a round number , we can expect good support . In terms of Classic Technical Analysis , Gold appears to have succeeded in breaking the neckline of the two patterns , the Head and Shoulders Pattern and the Three Falling Peaks Pattern . Educational Note : The Three Falling Peaks is a bearish reversal pattern that occurs after an uptrend, where the price forms three consecutive lower peaks. Each peak represents a failed attempt to continue the uptrend, signaling weakening bullish momentum. A breakdown below the support confirms the pattern and signals a potential downtrend. In terms of Elliott Wave theory , it seems that Gold has completed 5 impulsive waves and we should wait for corrective waves . I expect Gold to attack the $3,000 at least once more after completing the pullback , and the next target could be the Support zone($2,989-$2,976) . Note: If Gold goes above $3,039, we should expect more pumps. Gold Analyze ( XAUUSD ), 1-hour time frame. Be sure to follow the updated ideas. Do not forget to put a Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
OANDA:XAUUSDShort
by pejman_zwin
10
Chinese Yuan Price Action Setting Up For a Potential CollapseWe have a huge Void below us and the Yuan has Rallied away from this Void before, but it appears to now be making a Lower High with Hidden Bearish Divergence on Both the RSI and MACD; If the Yuan Breaks Below the B point of this Potential Crab BAMM which also happens to be The Confirmation Line of what would then also be a 3 Falling Peaks Pattern, we will very likely then see Downwards Acceleration Towards the 1.618 Fibonacci Extension Below to Complete the Harmonic Pattern
Short
by RizeSenpai
2
Three Falling Peaks On The Gold Miners ETFThe Gold Miners don't look like they are setting up to have a very good time as they have made Three Consecutive Lower Highs and have penetrated the line of support it's been holding. Just from looking at this pattern and how we are trading in between the 55 and 200 week Moving Averages and Preparing a Weekly Death Cross it would seem that it is setting up for a +40% Decline in the near future so long as it continues to make Lower Highs.
AMEX:GDXShort
by RizeSenpai
1
VRNA Three Falling Peaks (bearish)I found this pattern at tickeron website with the following data: STATUS = Confirmed CURRENT CONFIDENCE = 84% TARGET (EXIT) PRICE = 3.84 USD BREAKOUT (ENTRY) PRICE = 6.60 USD DISTANCE TO TARGET PRICE = 39.95% EMERGED ON = Aug 19, 12:00 PM (EDT) CONFIRMED ON = Sep 03, 01:03 PM (EDT) WITH CONFIDENCE LEVEL = 98% The Three Falling Peaks pattern forms when three minor Highs (1, 3, 5) arrange along a downward­-sloping trend line. This pattern often emerges at the end of a rising trend, when a security slowly rolls over. It potentially indicates sellers moving ­in to replace buyers, which pushes the price lower. Trade idea If the price breaks out from the bottom pattern boundary, day traders and swing traders should trade with the DOWN trend. Consider selling the security short or buying a put option at the downward breakout price level. To identify an exit, compute the target price by subtracting the pattern’s height (maximum price minus minimum price within the pattern) from the breakout level ­ the lowest low. When trading, wait for the confirmation move, which is when the price moves below the breakout level. To limit potential loss when price suddenly goes in the wrong direction, consider placing a stop order to buy back a short position or sell a put option at or above the breakout price.
NASDAQ:VRNAShort
by AlTorress
1
Bitcoin - Wyckoff and Elliott description of current correctionI wanted to create a Wyckoff and Elliott wave based description of the current correction that has been lasting nearly 3 months now. During the beginning of the correction we have seen a Three Falling Peaks pattern which created a strong supply line. Three falling peaks acts as a reversal at the end of an uptrend. The strong supply line created by the 3FP's has eventually pushed the price below the ice in phase D. If bulls can not regain price above the ice then we might fall deeper into the river. Currently Bitcoin has corrected down to the fourth wave of one lesser degree. This could be creating a Spring opportunity as a potential end of a WXY. It would seem the correction started with a Flat (3-3-5) leading into a "Any Three ABC" followed by what I assume is a Zig Zag pattern. Many didnt believe the first ABC to be a flat because the B leg didnt retrace 90% of the A leg. A break back above $9350 signals a good Long position Falling below $7500 would give a good Short position. Current sentiment is cautious. Phase E should begin soon to reveal if the correction is over or if distribution continues.
COINBASE:BTCUSD
by KondrackiKarl