USDCAD Short from resistanceUSDCAD has formed a TRIPLE TOP on the 4 hour candles. There is also a BEARISH engulfing candle.
Stoch RSI is signalling downside
Stop losses above resistance at 1.3340 and a target of 1.3230
Tripletop
No One is Talking About this Triple Top, DOWNormally, I keep my trading and analyses to crypto, but this Dow Jones setup looks too good to ignore. Factoring in all of the bearish signs from fundamental analysis (rising interest rates, rising unemployment, slumping retail sales, and gov't shutdown), it's tough to argue that the stock market will break the previous high.
Triple top formation is possible. I'm playing a conservative short to the .382 fib retracement line for 6.4%. Setting my stop-loss right above the last swing high. Will start stacking my shorts as we near that 26700 resistance.
Entry: 26500
Exit: 24800
Stop-loss: 27000
Risk/Reward: 3
If Beauty falls in could be beautiful. This is a classic situation where fear, uncertainty and doubt all come together. The situation with ULTA is critical on the weekly and exposes opportunities on lower time frames.
Chance to Short then Long XBT and ETH on BITMEXGreetings my Zealots, BTC isnt a scam yet(not that it ever was :P), here's some compelling evidence!
Sorry i haven't been involved as much as i should be. I will be loading up my ammo and TA for trades now.
Here's my input, on XBT and ETH Bitmex entry positions. I personally would not be using anymore than 10x leverage and don't bother with any trades that are less than 2/1.
If i missed anything or made a mistake, please correct me, its part of my trade plan to be open minded.
The screenshot is an ETH/USD trading pair, but the same concept and logic does apply to XBT. For presentation purposes i feel like its easy to be doing it on ETH.
In general:
The market in general is very bullish and for every second that there isn't a LL under the 3100 range. the bottom is confirmed. On top of that there is a double bottom after the 3100.
Short:
At the time of this post, I would be looking for a short position because i do see a triple top on the 1HR and 4HR and the market structure is all doing LHs. I would be shorting this to the next support which is also the 50% and 61.8% Fibonacci retracement levels. Making this approximately a 2.87/1 trade. The market stop loss would be a sat or two after the HH which is around $150USD.
Long:
After the 12% XBT and 23% ETH pump, there has not been a pull back because of the bullishness. After shorting what is mentioned above, it would be safe to long from the same Fibonacci levels back to the resistance. I would personally have multiple double stagger orders from 50% to 61.8%. and be taking profits before and after the resistance. My market stop loss would be on $131.2USD after the support and wicks. If this set up plays out as planned this would be about a 3.5/1 trade.
GBPAUD 4H SHORT TRADEBearish Bias Short Trade
Triple Top resistance
Failed fourth Bullish breakout attempt
Macd over-bought
Short Trade
Sell Stop @ 1.8190
Sell Take Profit @ 1.8155
Find SL
NzdCad -shortnzdcad has a receprical abcd and not confirmed triple top. At blue area because I minimalize my stop, I short from here. with the targets of triple top, it can end the uptrend too.
usdchfhead and shoulders pattern will be confirmed after the brake oft the neck-line. blue lines are the targets.
A SHORT Trade Setup for USDCHF. Triple Top Formation!Price has approached a crucial resistance level. triple top formation also happens to be present there. On the 4hr charts, it can be seen that the trendline has been violated and breached the 4hr 50 EMA too. The price might slightly retrace towards the daily 50 ema where out take profit levels lies too. have a look at the details below
INSTANT ENTRY AT AROUND 1.00480 LEVEL
STOP LOSS: 1.01300
TAKE PROFIT: 0.99600
RISK TO REWARD RATIO: 1:1
SHALL THERE BE ANY UPDATES I WILL PROVIDE THEM IN THIS THREAD. CHEERS
nzd/cad bearish set up nzd/cad seems to be ranging sideways with price respecting the resistance zone + triple top pattern recognised as well
simple set up
ETH - Not yet, but soontriple top potentially forming unless a clean break of ~156.
Volume doesnt look huge, especially on BTC which is currently correlated.
Scalp targets on chart. If 140 breaks, could head to 129 before refuelling for a bull break.
EURGBP Sell IdeaW1 - Possible bearish divergence.
D1 - Strong resistance zone and triple top.
H4 - Price has reached the top of the range and is moving lower. As long as 0.91 holds, we may look for sells with bearish evidences.
We may look for short term sells inside the range and longer term sells with a breakout below the range with bearish evidences.
EURAUD - in a critical zoneI'm looking at a possible triple top on EURAUD on the 3D time frame. I do this because I'm looking for position and then to trail down on a lower time frame.
There is some weakening of the 3D time frame trend and the critical zone at the peak probably creates a greater probability for the south.
GBPCAD possible Short opportunityIn the last 4 months the price of GBPCAD found a heavy resistance in area between 1.73000 - 1.71800. Now the price is getting into that area again and that suggests that the price might bounce of this area again. Combined with a Triple top and bearish crab, this should be a great risk to win Short trade.
S&P500 in a Range - Profits! The S&P500 is currently trading in a nice range between 2620 and 2810 points. The Fibonnaci level of 61.8% acted as a really good resistance (triple top). Price just bounced for the third time on the 2620 level and could go back up to 2810. However, if trend reverses and breaks below 2620, we could see a big drop. Also note a little divergence with the MACD; it has a good chance to be corrected on the upside.
I believe that good news from US-China trade and reasonable inflation could give the S&P enough momentum to go back to the upper limit. Watch for fundamental news.
USDJPY - Short Opportunity to ShortLittle bit of different setup this time.
I see it as potential double or even triple top with decreasing highers as the sign of potential trend reversal and rally down.
The fact that it is third top is little bit diminishing the risk/rewards ratio, therefore I will adjust and close the trade in the first signs of incorrect judgement.
Also it could very easily jump up and for triangle.
We shall see. I plan to take some residual initial profit, scalp it a bit, and leave.
Your ideas and comments highly appreciated and welcomed.
USDJPY TRIPLE TOP PATTERN IN FOCUSThe US dollar is reversing earlier gains against the Japanese yen currency, following a dovish speech from Federal Reserve Chair Jerome Powell on Wednesday. The USDJPY pair was rejected from key trendline resistance, at 114.02, creating a bearish triple-top pattern formation. A strong move below the 113.15 level may spark technical selling towards rising trendline support.
The USDJPY pair is only bearish while trading below the 113.15 level, key support is found at the 112.60 and 112.28 levels.
If the USDJPY pair holds above the 113.15 level, key technical resistance is found at the 113.60 and 113.79 levels.
NZD/USD Bearish Crab Pattern:Waiting For Bearish ConfirmationWe see that the NZD/USD has completed a Bearish Crab Pattern on the hourly chart. '
RSI Divergence points towards potential reversal
Triple Top confirms upper resistance
Possible Short trade at .684 resistance level
GBPCAD / SHORT OPPORTUNITY / 4HGBPCAD
Trading Bias: Short
Technical Strategy: Triple top in resistance channel + RSI divergence.
*WAIT FOR STRONG BEAR CANDLE ON 4H OR A SHORT SIGNAL ON LOWER TIMEFRAME*
GBP/AUD Short Setup Tripe top on H1 if current candlestick closes bearish
Head and shoulders on H4/D1 where price is currently retesting the neckline
31.8 fib correction complete and confluence with my daily support now resistance of 1.7933
Bear market since mid October
Target 90 pips with 45 pips stop (1:2 risk/reward)
