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Bearish Patterns

The "Wedge" Confirms the "Nod" - EUHere I have EUR/USD on the 4 Hr Chart! The Head & Shoulders Reversal Pattern took all mid-July to form with Price finally Breaking the Low @ 1.08715 and giving us the New Lower Low @ 1.08256! Price has been working back up to test the Break of Confirmation of Pattern but remains unable to break above, and with this Price Action, we begin to see a Bearish Wedge formation!! This Wedge is a Continuation Pattern and is textbook confirmation to see the Head & Shoulders being true to the Reversal Behavior! *As long as Bears remain solid at the 1.087 level, the Bearish Break to the Rising Support of the Wedge will be Confirmation of the Wedge Continuation Pattern itself, therefore strengthening the Bearish Bias on the Pair to CONTINUE! -We see Price on the RSI is remaining BELOW the 50 reassuring Bearish Pressure -BB Trend Printing strong Red Bars -Fundamentals- EUR - CPI's & GDP (Tue), CPI's (Wed), PMI's (Thur) USD - Consumer Confidence & JOLTS (Tue), ADP Non-Farm/GDP/Pending Home Sales/Funds Rate (Wed) Unemployment Claims ISM Manu. PMI (Thur) Average Hourly Earnings, Non-Farm Employment, Unemployment Rate (Fri)
Short
by Novi_Fibonacci
My Tape Reading for XAUUSD 4H CandleMy Tape reading Gold - 24h expiry on 4H Candles Posted a pin bar(inverted hammer) formation. We look to Sell at 2390 (stop at 2396.5) Our profit targets will be 2363.5 and 2357.5 Price Watch @North: 2406.0 / 2433.0 / 2438.0/2465/0/2473.0 Price Watch @South: 2363.0 / 2357.0 / 2327.0/2327.0 Risk Disclaimer The trade ideas beyond this page are for Education/informational purposes only and do not constitute investment advice or a solicitation to trade. Shunya.Trade does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. This information is provided by Shunya.Trade, and is intended for general circulation only.
PEPPERSTONE:XAUUSD
by shoonya0000
ETH Trade Ideas! Pick Your Poison.After a nice bounce from the GP, Trendline confluence, we are struggling to move higher. I would expect a move lower to test the untested POC and sweep the last low before moving higher. If we lose the POC, the VAL & Daily would be my next target. #Ethereum Calculate Your Risk/Reward so you don't lose more than 1% of your account per trade. Every day the charts provide new information. You have to adjust or get REKT. Love it or hate it, hit that thumbs up and share your thoughts below! This is not financial advice. This is for educational purposes only.
by Navitility
Beginning of the AJ Bull's END?!Here I have AUD/JPY on the Daily Chart! Beginning in March of 2020 to what seems to be the new High @ 109.372 in July of 2024, we have seen the end of the 5th Wave of Elliot's Impulse Wave! With Prices steep decline to the new LOWER LOW @ 99.209, knocking out the Low of June and Testing the Low of May, these are the conditions needed for what could potentially turn into a Correction Wave!!! The Sellings have BEGUN! -You can see that the RSI after this enormous drop in price Breaking Lows ( Structure) is now operating under the 50 mark & Oversold! -The BB Trend is now printing Red Bars showing signs of Bears in the vicinity! Where might Price go?? -If 99.209 is our True Lower Low we will be working with, I suspect price will make a STRONG retracement! *Potential Retracement Levels* ( 103.091 - 103.691 ) - Golden Zone ( 104.291 - 105.490 ) - 50% / 38.2% -Fundamentals- *Uncertainty of BOJ decision mixed with the suspected COOLING of inflation on AUD may be just the catalyst we need to see this pull off! AUD - CPI q/q & y/y - Tuesday, July 30th JPY - BOJ Policy Rate - Tuesday, July 30th
Short
by Novi_Fibonacci
BITCOIN CONFERENCE 2024In the chart I've highlighted some key areas of interest going into the BITCOIN CONFERENCE in Nashville. With Trump scheduled to speak and his recent track record of being bullish on BTC and crypto in general, my natural instinct is this will be a bullish event for the space. Trump recently started taking campaign donations in BTC and selected JD Vance as his VP should he be elected. Vance is known to have over $100,000 in BTC so they are both pro crypto and should this be expressed at the conference it is bullish for the space. Is this a sell the news event? With BTC's recent rally from the lows of ~$63,500 to now ~$68,000 you could argue that the conference is priced in as the 7% gain since midweek would suggest. I do predict volatility that may look like a sell the news event initially but ultimately I cannot see that being the case. For me, if we lose the "MINI RANGE MIDPOINT" with a clean break below then I would start to rethink that stance. Personally I think we whipsaw between " MINI RANGE MIDPOINT" & "'21 ATH". Historically since the start of the year the '21 ATH is the most important level as all major moves both bullish and bearish are triggered from that level.
BITSTAMP:BTCUSD
by ProR35
1