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Reversal

EURUSD - Wait For The Bears!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈EURUSD has been overall bearish trading within the falling channel marked in orange. Currently, EURUSD is approaching the upper bound of the channel. Moreover, the zone marked in blue is a massive supply zone. 🏹 Thus, the highlighted orange circle is a strong area to look for sell setups as it is the intersection of the supply zone and upper orange trendline acting as non-horizontal resistance. 📚 As per my trading style: As #EURUSD is around the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
3
SMH tests major resistance levelSMH has rallied nicely the past 2 days and now reached major downward resistance level again. This is a crucial area for SMH to break in order for more rallying to continue Resistance defined well during late August ETF now presses up against resistance again Volume declines as resistance is reached. Overall I am expecting a reversal to start forming around here. Figure on SMH testing the level before retracting back down to lower levels again.
NASDAQ:SMHShort
by ratchet-mint
AU Bears "Head" Down to Target .6570Here I have AUD/USD on the Daily Chart! From Friday's High @ .67672 to its Low @ .66597, we can see we get the Confirmation of a strong reversal pattern with the Break of the Neckline of the Head & Shoulders! Now what I'd like to see off the same High and Low of Friday is Price give us a 38.2% Retracement of the Low & Pullback to test the Neckline for potential Sell Entries. ( .67008 - .6697 ) Swing High of Head to Neckline = 126.9 Pips Neckline - 126.9 = .6570 (Target) Fundamentals: AUD's undoing comes from a mix of a rise in Unemployment to 4.2% and Retail Sales ending August coming in @ 0% With the horrible run of jobs reports for the USD to start September, it managed to recover to end the week and give the idea that a 50 bps Rate Cut is less likely sitting at a 30% change and a 25 bps Rate Cut more likely at a 70% chance at the Sept 18th meeting. -RBA Interest Rate sits @ 4.35% -Fed Interest Rate sits @ 5.5% This upcoming week will be VERY news heavy for USD seeing as there is: -Core CPI, CPI m & y on Wednesday, Sept. 11th -Core PPI/ PPI m/m & Unemployment Claims on Thursday, Sept 12th!
Short
by Novi_Fibonacci
BTC - Bullish Control Persists!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 As per our latest analysis, attached on the chart, BTC has rejected the $50,000 - $52,000 support zone and has been trading higher since then. As long as the bulls remain in control, a continuation towards the $61,000 - $62,000 resistance zone is expected. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
4
Harmonic Crab Variation + Bullish RSI Divergence - GUHere I have GBP/USD on the 30 Min Chart! Price has found Support from the July Highs! Upon reaching the Low @ 1.30493 I notice a couple things: -Price is moving Lower, RSI is moving Higher = Bullish RSI Divergence -Price has created what looks to be a variation of the Harmonic Crab Pattern (not exact values) Harmonic Crab XACBD Values: X-B ( .382 - .618 ) A-C ( .382 - .886 ) B-D ( 2.618 - 3.618 ) X-D 1.618 We continue to see price move higher and I believe we will see Higher Highs up to the 1.3130 - 1.3140 Area! Fundamentals: GBP has been positive in the analyst eyes this week with the Claimont Count Change with impressive numbers and Unemployment down from 4.2% to 4.1%! -GBP will have GDP releasing Wednesday Sept. 11th with forecasts to be Positive! USD not only has Rate Cuts starting next week but this week is heavily loaded with CPI & Core CPI Wednesday along with PPI, Core PPI & Unemployement Claims Thursday Sept. 12th!
Long
by Novi_Fibonacci
2
EURGBP-NEXT WEEK 9-SEP-2024 TO 13-SEP-2024Currently, the market is forming a Head and Shoulders pattern, which suggests a potential reversal. On the 1-hour timeframe, a Cup and Handle formation has been identified, but the breakout isn’t strong enough yet, and a retest hasn’t occurred. However, volume confirmation on the 4-hour chart signals that the breakout may be imminent. On the 15-minute chart, we see a triangle formation, but we are waiting for a retest to confirm our entry. The area of value lies below the resistance zone, which we will use to define our risk levels after the retest. I am using Fibonacci retracement on the 4-hour chart to define the take-profit target. At the moment, there are no major obstacles like significant support or resistance levels on the way, which aligns well with our target. The stop-loss is set 10 pips above the resistance on the 4-hour chart, giving us a well-protected position. The risk-reward ratio (RRR), which is calculated at 2.11, making this trade attractive in terms of risk management.
Long
by dannyqaq1991
1
Key Signals Point to a Bitcoin ReversalCurrently, Bitcoin's price is hovering around a strong support level in the short term, and we're seeing early signs of a potential reversal pattern, possibly forming a macro (inverted) head-and-shoulders setup. Based on other technical indicators, this region between $47k and GETTEX:54K is likely to attract significant buying interest, positioning it as a key accumulation zone for long-term holders and institutional buyers alike. - The only thing that could stop us now is a recession, but do you think that will happen? - How many times we saw fud lately for Bitcoin, but also stocks? - Is there volatility and fear in the stock market, yes. - But when we see extreme fear. What should you do? .. I'm loading heavily on these levels. Let me explain once more the bullish fundamentals that should bring us above the ATH neckline: Institutional Adoption: Large financial institutions, hedge funds, and corporations continue to accumulate Bitcoin as a hedge against inflation and as an alternative asset class. This influx of institutional capital is providing long-term stability and driving up demand. Increasing Scarcity: With Bitcoin’s fixed supply of 21 million coins and a decreasing issuance rate due to halving cycles, the supply-demand dynamic is highly favorable. Each halving event further reduces supply growth, which has historically led to significant price increases. Inflation Hedge & Store of Value: In times of rising inflation and currency devaluation, Bitcoin is increasingly viewed as digital gold. Its decentralized nature and limited supply make it a prime candidate for capital preservation in an inflationary environment. Network Growth & Hashrate: The Bitcoin network's hashrate continues to hit all-time highs, signaling growing security and miner confidence. The expanding user base and increased global transaction volume further indicate that Bitcoin adoption is accelerating worldwide. ETF Approval: The potential for the approval of Bitcoin ETFs in key financial markets like the U.S. could lead to a massive influx of retail and institutional investment, further boosting liquidity and price discovery. Global Geopolitical Instability: Bitcoin is gaining traction as a hedge against political and economic uncertainty, with increasing use in countries with unstable fiat currencies or restrictive financial systems.
COINBASE:BTCUSDLong
by Davy_h
Supply/Demand Analytics on 2024 Oil: IEA-EIA Demand ProjectionDear Esteemed Members, There are several fundamental factors that could support the oil price reaching $76.09 per barrel, which is the highest level since November 2014. As the global economy rebounds from the pandemic, the demand for oil is expected to increase, especially in the second half of 2024. The International Energy Agency (IEA) projects that global oil demand will grow by 5.4 million barrels per day (bpd) in 2024, reaching 99.6 million bpd by the end of the year. The OPEC+ group of oil producers, led by Saudi Arabia and Russia, has been maintaining a cautious approach to increasing output, in order to balance the market and avoid oversupply. The group agreed in April to gradually raise production by 2.1 million bpd between May and July, but this is still below the pre-pandemic levels of output. Moreover, Saudi Arabia has voluntarily cut an extra 1 million bpd from its production since February, which it plans to phase out by July. The US shale industry, which was hit hard by the price collapse in 2020, has been showing signs of discipline and prudence, focusing on improving cash flow and shareholder returns rather than expanding production. The US oil rig count, a proxy for drilling activity, has increased by about 100 rigs since the start of the year, but it is still more than 300 rigs lower than a year ago. The EIA estimates that US crude oil production will average 11.2 million bpd in 2024, which is 0.3 million bpd lower than in 2020. The oil market is always susceptible to geopolitical tensions and conflicts that could disrupt supply or create uncertainty. Some of the current hotspots include Iran, Libya, Nigeria, and Venezuela. Iran, which has been under US sanctions that limit its oil exports, is engaged in indirect talks with the US to revive the 2015 nuclear deal, which could lead to a lifting of sanctions and a return of Iranian oil to the market. However, the outcome of the negotiations is uncertain and could face opposition from hardliners in both countries. Libya, which has been plagued by civil war and instability, has seen its oil production fluctuate due to frequent attacks and blockades on its oil facilities. The country is currently producing around 1.2 million bpd, but it faces challenges in maintaining and increasing its output amid political and security risks. Nigeria, Africa’s largest oil producer, is facing social unrest and militant attacks that could affect its oil infrastructure and exports. The country is also struggling to implement a long-awaited reform of its oil sector, which could improve its governance and attract investment. Venezuela, which has the world’s largest proven oil reserves, has seen its oil industry collapse due to mismanagement, corruption, and US sanctions. The country’s oil production has fallen from over 3 million bpd in the late 1990s to less than 0.5 million bpd in 2020. Kind Regards, Ely
TVC:USOILLong
by Elysian_Mind
EURGBP | Hidden Bearish DivergenceCurrently, EURGBP is in an uptrend, making new higher highs and higher lows as the price moves upward. However, a double top has formed, and the price has broken the recent low, indicating that the structure is beginning to shift into a downtrend. This suggests the market may soon start printing new lower highs (LH) and lower lows (LL). Additionally, on the 4-hour time frame, there is a hidden bearish divergence, further indicating a potential trend reversal into a downtrend. The combination of the double top formation and the hidden bearish divergence strengthens the likelihood that the trend will change, leading to the formation of new lower highs and lower lows. In summary: 1: Current Uptrend: EURGBP has been making higher highs and higher lows. 2: Double Top Formation: Suggests a potential reversal at a key resistance level. 3: Break of Recent Low: Indicates a shift towards a downtrend. 4: Hidden Bearish Divergence: On the 4-hour time frame, confirming the likelihood of a trend change. 5: Expectation: The trend may soon shift to a downtrend, with new lower highs and lower lows likely to form. These confirmations suggest that while the EURGBP has been in an uptrend, But rejected from its daily supply zone the recent developments point to a possible reversal into a downtrend. It is important to monitor these indicators closely and consider them in your analysis before making trading decisions.
Short
by awaisulabdeen
10
EURAUD - Now We Want!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈EURAUD has been bearish trading within the falling channel. Currently, EURAUD is approaching the lower bound of the channel. Moreover, the zone marked in blue is a strong support. 🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the support zone and lower trendline acting as non-horizontal support. 📚 As per my trading style: As #EURAUD approaches the blue circle, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
BTC - Bullish Again!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 BTC has been overall bullish, trading inside the rising wedge channel in brown. Yesterday, after Jerome Powell's speech, BTC jumped above the $60,000 zone. 🏹 The highlighted blue circle is a strong area to look for buy setups as it is the intersection of the blue support and lower brown trendline acting as a non-horizontal support. 📚 As per my trading style: As #BTC approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
5
GBPUSD - Bearish Soon...Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 As per my last analysis, GBPUSD rejected the lower bound of the medium-term trendline and traded higher. What's next? GBPUSD is currently hovering around the upper bound of the green and orange channels. Moreover, it is retesting a weekly major high marked in blue. 🏹 Thus, the highlighted green circle is a strong area to look for sell setups as it is the intersection of the trendlines and major high. 📚 As per my trading style: As #GBPUSD is hovering around the circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Short
by TheSignalyst
3
NZDCAD - OverBought Territory... Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 NZDCAD has been overall bullish , trading within the rising channel in blue. Currently, NZDCAD is approaching the upper bound of the channel. Moreover, the zone marked in red is a massive supply zone. 🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the supply zone and upper blue trendline acting as non-horizontal resistance. 📚 As per my trading style: As #NZDCAD is around the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
1
EURCAD - Trading The Wedge...Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 EURCAD has been overall bullish , trading inside the rising wedge pattern in orange. At present, EURCAD is undergoing a correction phase and it is hovering around the lower bound of the wedge. Moreover, it is retesting a massive demand zone marked in blue. 🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the blue demand and lower orange trendline acting as a non-horizontal support. 📚 As per my trading style: As #EURCAD is hovering around the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst