A huge bear flag has been formed over the past few months, in line with the emerging bearish downtrend.
Current price is on the verge of breaking this bear flag and for more downside.
in the lower timeframe, a week to week successive downtrend is already in progress. Nearing the trendline, sharp price actions can be found near the 10000 level resistance. Price is likely to resume downtrend this week, with 3 more trading days to go.
A resistance confluence is found in Brent Crude. It may be ready to rejoin the 2 years bearish downtrend.
A head and shoulders is formed from the resistance confluence. The neckline was broken from yesterday’s bearish trappedtrader signal. Price is ready to move downwards.
After 1 mth of inactivity, resumed operations as losing trades were being held until the favored trend returned.
Can no stop-loss trading work?
While putting a stop loss guarantees that losses wont go beyond the set amount, it may also be worth it to use position sizing as a better form of risk management.
After a massive plunge from AUD rate cut on 3rd May 2016, the topping pattern became clearer.
The first D1 chart shows a resistance confluence trendline.
Zooming in, this resistance confluence shows a price pattern in which 5 weeks of high was flushed. Price is currently now perched at the support level of 0.7500 a psychological level as well. It can also be seen as a neckline as previous 2 attempts to break were not successful.
Clue to short this will be from a bearish #trappedtrader signal, so that legitimizes the reason to why shorting will be done despite being at the current neckline suport. Should there be more retracement then more shorts will be added in.
Price has been showing bearish signs for the past 4 days. Downside is imminent.
A head and shoulders neckline has been completed. The neckline has been broken with a bearish trappedtrader signal. A clear indication of price being ready to resume downtrend.
Week to week, price is on the downtrend. The recent 4 weeks head and shoulders will be completed soon , pending a day close. on line chart the topping pattern can been seen as a validation of the 52 weeks resistance
Waiting for a h4 trappedtraders signal will be ideal or entry