(short in progress) week20 Brent Crude D1 topping out, ready for bearish trend resumption

D1

A resistance confluence is found in Brent Crude. It may be ready to rejoin the 2 years bearish downtrend.

week20 brent crude d1 trappedtraders 100516

h4

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.

week20 Brent Crude h4 neckline broken 100516

( short in progress) week8 Nikkei D1 head and shoulders at trendline resistance

D1

A simple line chart shows that current price is forming a head and shoulders distribution pattern with
pivot points aligned with a trendline resistance. This is in line with current downtrend of past 10-20 weeks.

This head and shoulder is also meaningful because it is printed at 16000 psychological level. Hence it is likely this level is being rejected by market after a span of 5-10 days. It is perhaps a sufficient indication of true market intention for the next phase of movement.

Overall a simple concept of Support turn Resistance is being enacted out here.

week8 mikkei d1 h&S 240216

It is hard for traders to pinpoint exactly when a trade will start moving. Many a times an entry might be made but the pattern will continue to evolve, causing the trader to be stuck in an inferior position for a while. Creeping negative thoughts may come in and that is when thoughts of exiting may be entertained. This twitter shows how a chance appeared early last week to enter short. However price chart continued to evolve.

( SHORT in progress) week5 EURNZD shooting star and head and shoulders seen

D1

It has become easy for decision making. When I see a shooting star in line with my trend bias, I will go for short immmediately without thinking too much.

week5 EURNZD D1 shooting star 020216

h4

On h4 it is more apparent that the short is immiment, with the completion of a h4 head and shoulders
A h4 super pivot helped to complete the right shoulder.
I shorted immediately on tuesday open and am ready to short more with sell limit should price does an intra-day retracement.

week5 EURNZD h4 hns super pivot 020216

( trade in progress) week4 EURNZD h4 bearish trappedtraders shooting star ready for short

After previous week of bearish movement,

price seems to be resisted at 1.700 in confluence with cluster of 52weeks level.

h4

Double shooting stars were printed, near the resistance cluster. This could be the topping signal of a right head and shoulder. Should this distributive pattern be completed, more downside spaces will be available for next phase of shorting.

week4 EURNZD h4 trappedtrader 260116

NZDCHF h4

NZDCHF, the direct opposite of EURNZD, looks the weaker one with more ease to trade ( LONG side), as price has already completed a larger flush phenomenon.

week4 nzdchf h4 long trappedtraders 260116

(Trade concluded) week50 GBPNZD h4 head& shoulders pattern readies for short.

h4

This chart has been highlighted since last week. With bearish move gaining traction for the past few weeks.

From this chart,

it is clear that week to week there has been a LOWER High formed. So traders who trade on a week to week trend will find it beneficial to maintain their short bias.

As of the h4 candle close at 10am based on SGP time, a trappedtrader signal has been formed, below the 2months low.

This also suggested that price is poised to break major support. But how do we know if this is going to be a breakout or is it going to be a fakeout from the bullish side?

The head and shoulders chart pattern, painted yellow in the chart, suggests that on the lowertimeframe price has failed to make a push for the upside and therfore price is at the stage where it has probably finished its retracement move.

From the multiple trappedtraders signal being formed, this suggests to me that bearish traders has been accumulating positions and perhaps the next down move is imminent.

week50 gbpnzd h4 hns pattern trappedtraders 151215

edited 171215

excellent way to have concluded this trade. Exited after a full power day and the point which I wish to emphasize is not how much potential a price pattern can move, but rather have I seized the opportunity to move in line with the momentum , took profit , withdrew the profit from the broker.

( SHORT in progress) week49 WTI breaking 4 weeks low with 3 x #trappedtrader signal

d1

after several months of consolidation, price has completed a head and shoulders pattern and started to move down.

Thereafter, there was another 4 weeks consolidation with same low for 4 weeks.

week49 WTI D1 6reaks 4 weeks low 071215

h4

Nearing the 4 weeks low support, 3 x h4 #trappedtraders signal was spotted. I am taking this as impending signs of bearish breakout, and hence I am willing to stake more in this short. Of course in doing so, I must also set a stop loss above last week’s high in order to mitigate risk. Any drop below this support will send price into space below.

week49 WTI h4 trappedtrader triple signal 071215

 

edited 081215

 

price smashed the 4 weeks low after the trappedtraders signal, closing with a power bearish day. My conviction on the proprietary indicator has strengthened and I will continue to observe and improve it.