Bear flagbear flag given the current market climate looking for a continuation move this week into OPEX. No position.
Bearish Flag
Technical analysis of USD/CHFIntraday bias in USD/CHF remains neutral as range trading continues. In the bigger picture, medium-term outlook also remains neutral as USD/CHF is staying in the range between 0.9660/1.0237.
Until the 0.9841 support (50% Fibo retracement and the lows from Sept. and Oct.) stay intact, the rise from 0.9660 is expected to resume sooner or later. On the upside, the first resistance is 0.9926 (December 03 high). If the bulls manage to cross that level, this can act as a validation point to escalate the run-up towards 0.9980 and 1.0000 round-figure, which break will bring retest of 1.0027 area.
However, sustained break of 0.9841 will indicate near-term reversal and pave the way back to 0.9660 support. Right now the pair is testing the lower boundary, near 0.9870, of the bearish flag formation on H4 chart. Also the 50 SMA just crossed bellow 200 SMA on the same time frame, which is a death cross and indicating the potential sell-off extend. But Sellers should wait for a confirmation of the downside break of flag support to aim for the theoretical target of 0.9700.
AUD/NZD Technical analysisThe counter is in a bearish mode making lower highs and lower lows consistently.
A trendline can also be drawn connecting the lower highs of the counter.
Also, it has broken out of a bearish flag pattern.
Hence we expect the pair to be bearish in the near term.
EUR/GBP Wave analysisThe EUR/GBP pair is currently in a downtrend forming an Elliot wave.
It has completed its third and fourth wave, and resumed its fifth wave.
It has broken off a bearish flag pattern.
Hence we expect the pair to bearish in the short-term.
AUDCHF Sell IdeaD1 - 3 lower lows, lower highs structure, followed by a retrace in the form of double wave up.
Price reached an important resistance zone, bearish divergence and it has broken below the most recent uptrend line, currently it looks like a correction is happening.
H4 - The correction is happening in the form of bearish flag, bearish hidden divergence,
If the price breaks below the bottom of the bearish flag pattern we may then start looking for sells with more bearish evidences.
GBPCAD - Bearish Flag Pattern 3rd touchThird Touch at 1.7050 level of Bearish Flag pattern n daily timeframe.
We are looking for Sell opportunity here.
Let's See this week!
EURJPY 1D BEAR FLAG SHORT TRADEBear Flag is a Ranges style chart pattern that is a repeatable trading chart pattern.
Bear Flags are a consolidation chart pattern that has a bearish directional bias depending on the previous incoming trend.
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart).
Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place.
Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement.
When you see descending Volume bars and descending ATR line (which indicates volatility) this shows
a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern.
Trade Management after there is a breakout candle close.
1 - Position size (compare volume bar to volume ma line).
a - Breakout candle must be 100% of average volume for a full position size.
b - If 75% of average volume then ½ position size. (To find 75% of Volume
look at the charts volume settings – divide smaller # into larger # = 75%+)
2 - Enter two trades.
3 - SL for both trades will be 1.5 x ATR.
4 - 1st trade TP will be 1 x ATR.
5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price.
6 - When 1st TP hit – move 2nd trade SL to breakeven.
7 - Adjust the 2nd trade SL to follow price.
*8 – After Breakout candle – if price closes back into chart pattern close trade
*9 - When breakout candle is more than 1 ATR from breakout candle open.
a - Enter 1st trade at candle close with ½ position size.
b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open.
c – Price should pullback to that pending limit order for 2nd trade.
d – If Price returns back into chart pattern close trade before SL is hit.
LITE CRUDE OIL FUTURES 1D BEARISH FLAG SHORT TRADEBear Flag is a Ranges style chart pattern that is a repeatable trading chart pattern.
Bear Flags are a consolidation chart pattern that has a bearish directional bias depending on the previous incoming trend.
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart).
Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place.
Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement.
When you see descending Volume bars and descending ATR line (which indicates volatility) this shows
a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern.
Trade Management after there is a breakout candle close.
1 - Position size (compare volume bar to volume ma line).
a - Breakout candle must be 100% of average volume for a full position size.
b - If 75% of average volume then ½ position size. (To find 75% of Volume
look at the charts volume settings – divide smaller # into larger # = 75%+)
2 - Enter two trades.
3 - SL for both trades will be 1.5 x ATR.
4 - 1st trade TP will be 1 x ATR.
5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price.
6 - When 1st TP hit – move 2nd trade SL to breakeven.
7 - Adjust the 2nd trade SL to follow price.
*8 – After Breakout candle – if price closes back into chart pattern close trade
*9 - When breakout candle is more than 1 ATR from breakout candle open.
a - Enter 1st trade at candle close with ½ position size.
b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open.
c – Price should pullback to that pending limit order for 2nd trade.
d – If Price returns back into chart pattern close trade before SL is hit.
Bull Flag confirmed, but now what?Ethereum had a nice parabolic move to the upside along with Bitcoin on Oct 24th & 25th, and since then traded in a bull flag that recently broke to the upside.
Since the bull flag has played out however, we've seen a H&S play out, and now what appears to be a double top forming into another potential H&S pattern..
Since Bitcoin broke to the downside yesterday from a descending triangle Eth hasn't reacted much, interesting.
Price has manage to clear demand buckets & will halt near 109.50Price is reacting to lows of the previous decline & has manage to give strong indication to fall again around 109.90. My first target would be around 107.50 & then the source of the upmove which is around second rectangle market with blue.
EURNZD Sell IdeaH4 - Price broke below the bottom of the channel, currently it looks like a retrace is happening, bearish flag pattern.
H1 - Bearish divergence, if the price moves lower and breaks below the bottom of the bearish flag pattern we may then look for more bearish evidences in order to join the bears.
If you want to be more conservative then wait for the price to break below the bottom of the H4 channel again. You may then look for more bearish evidences in order to join the bears.
EURGBP Sell IdeaW1 - Price is nearing the bottom of the channel.
H4 - 3 lower lows, lower highs structure currently the price is moving inside a bearish flag pattern.
If we get a valid breakout below this pattern we may then start looking for sells with more bearish evidences.
USDSGD Achieved Target Price Objective 1.36066Sloping Flag. Parallel Channel. Equidistant Channel. USDSGD.
EURAUD 1D BEAR FLAG SHORT TRADEA Bear Flag is a form of a Ranges which is a repeatable trading chart pattern.
A Bear Flag chart patterns will have a bearish directional bias depending on the previous incoming trend.
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart).
Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place.
Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement.
When you see descending Volume bars and descending ATR line (which indicates volatility) this shows
a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern.
Trade Management after there is a breakout candle close.
1 - Position size (compare volume bar to volume ma line).
a - Breakout candle must be 100% of average volume for a full position size.
b - If 75% of average volume then ½ position size. (To find 75% of Volume
look at the charts volume settings – divide smaller # into larger # = 75%+)
2 - Enter two trades.
3 - SL for both trades will be 1.5 x ATR.
4 - 1st trade TP will be 1 x ATR.
5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price.
6 - When 1st TP hit – move 2nd trade SL to breakeven.
7 - Adjust the 2nd trade SL to follow price.
*8 – After Breakout candle – if price closes back into chart pattern close trade
*9 - When breakout candle is more than 1 ATR from breakout candle open.
a - Enter 1st trade at candle close with ½ position size.
b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open.
c – Price should pullback to that pending limit order for 2nd trade.
d – If Price returns back into chart pattern close trade before SL is hit.
ORBEX: EURAUD - Are We Going To See A ZigZag Duplication?It looks like we are on a bear flag correction with the potential moving down increasing following the minuette zig-zag ( (a)(b)(c) ) appttern. The correction down to 1.618% FE validates this pattern.
The flag structure hints to a duplication of the first corrective leg down as it is dominant, which places the intermediate target for EURAUD near 1.55
It is likely that after a successful bearish breakout the currency pair slides towards the 61.8% FR near 1.59 first, and then slip lower between 78.6-88.6% FR levels.
This scenario could lead to lower lows forming a new low for intermediate wave 2.
Note that bears could start pushing lower at any point, or, alternatively, they could let market move higher for one last upside leg before pushing down!
This opportunity would be invalidated above 1.65 or so, or the intersection between price, time and the top trendline of the bear flag.
Stavros Tousios
Head of Investment Research
Orbex
Bearish Flag and Bearish DivergenceGBPUSD upward momentum exhausted. Bearish flag and bearish divergence formed
