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AUDNZD Inverted Head & ShouldersWe have a downtrend from the 1.13 area to 1.0236, and within it there is the first shoulder, the head, and the second shoulder, which I believe has already formed. The red resistance at 1.0760 is the resistance neckline, which when broken will initiate a long position up to 1.13, the major zone of previous resistance On the daily/4h time frame there is a resistance trendline, which when broken will signal that the second shoulder has indeed formed. Additionally, a long position can be taken after the break of this resistance trendline. Remember to have a daily candle close above this, and watch for a retest to reinforce the long position from this 1.05 area.
Long
by MtxTrader
Inverted VIX Contract StrategyAnytime, when the front month contracts are expensive than the back month's. Any rally to the upside is to be taken with a grain of salt. Because, Market is pricing in more risk on short term contract than the long terms. And risk in the general market knows only one direction, which is ________. assuming you know the answer. I will leave that blank. Any rally during that time is a good place to sell Credit spreads on the market. You can backtest this. I will release a code soon (working on it) The rally high marks a good resistance point as well. So watch out before you get excited, trying to catch the bottom. - Good Luck Folks.
V
by UDAY_C_Santhakumar
2
GER30: Another Test of StructureOne of my current clients is a big trader of the German DAX so i find myself looking at this index on almost a daily basis. The more I look at it, the more I enjoy breaking it down as it seems to be a pretty technical friendly chart. When taking a look at it today in my Live Trading Room we noticed a few things. The obvious structure level looking left, the potential butterfly pattern completion at that structure level and a large area of confluence between numerous Fibonacci extensions and inversions. We've also got some AB=CD action thrown in there as well. Yes there's an even bigger potential butterfly that could be setting up on the higher timeframes. But there's no need to worry about that until structure is broken. Akil
FX:GER30Short
by Akil_Stokes
10
EURUSD still a shortSome bullish sentiment coming in after Wed but by Thursday night price dumped again and now forming a channel with divergence . I am still keen to short but this time bullish has a reason to go long with the inverted head and shoulders. The crucial level will be 2669 for me and I am looking for a min. h4 candle close to reenter short. A close below this means the inverted head and shoulder becomes invalidated and hence giving the legitimacy to rejoin this bearish trend. I will be looking for 1.2500 this time for TP trade no good if it closes back above the neckline
Short
by nakedchartist
2
Inverted Cup and Handle Top or Descending Broadening Wedge?As many of you know United States and Japan's diplomats have been working on the Trans-Pacific Trade Agreement TPP. Trans-Pacific Partnership (TPP) is an ambitious plan for a free trade agreement among 12 countries which, if realized, could cover 40 percent of global GDP. It is a key plank in President Obama's foreign policy, and an effort to anchor the US firmly to a region that is increasingly feeling the pull of Beijing's mighty economy. But huge sticking points remain, with the US and Japan -- the world's first and third largest economies -- fighting to protect important domestic industries. Washington and many of the other parties to the talks -- which also involve Chile, Mexico, Canada and several Asian countries -- say Japan's unwillingness to open its lucrative agricultural market is a deal-breaker. Below is a news brief on the situation. "US Trade Representative Michael Forman and his Japanese counterpart Akira Amari said 18 hours of discussions had done little to reduce the "distance" between them, especially on farm and auto products. We agreed today that our negotiators will continue until the end of the week (with) the discussion on agriculture and autos" Gridlock between Japan and United States has shaped the charts in a unique way. Chart Pattern Near Term Descending (Falling) Broadening Wedge For the past few weeks, as many of you know from Trading View’s message board, I have posted the descending (aka falling) broadening wedge pattern. The pattern has worked perfectly and looks to be ending soon. As you can see on our chart, the falling wedge has kept closer to inside descending support line in recent weeks. This could mean that we will react in opposite manner, and the falling pattern would elongate to our upper resistance (thick black descending line) shaping a handle, or the pattern is breaking down and will speed up to the downside. I posted likely key support area's using a Fibonacci extension from important tops and bottoms from the descending wedge pattern. Big Picture Cup and Handle Top Pattern (6 month Cup) Neckline 84.00 (horizontal) to 83.00 (following descending support; 0 to -2.5 degrees) Possible Secondary Deeper Neckline at 83.00 to 82.00 (following descending support; -2.5 to -6 degrees) Measured Target(s) 79.13 , 77.33 and 76.06 If we look at our related event between Japan and U.S. that is triggering the pattern we have shaped, and with an optimistic outcome next week, we should see our bottom somewhere near those necklines I posted above. I would also expect a possible breakout above the handle(s) I charted, rendering the cup and handle a busted pattern and the broadening wedge as a breakout. However, without a deal between the U.S. and Japan next week. I would think the market could quickly turn negative and we could fulfill the measured targets I mentioned above, measured target(s) 79.13 , 77.33 and 76.06
NASDAQ:QQQLong
by QuantitativeExhaustion
10