Chart patterns are the foundational building blocks of technical analysis. They repeat themselves in the market time and time again and are relatively easy to spot. These basic patterns appear on every timeframe and can, therefore, be used by scalpers, day traders, swing traders, position traders and investors. There are 3 types of patterns, depending on how price is likely to behave after completion: reversal patterns, where price is likely to reverse, continuation patterns, where price is likely to continue its course and bilateral patterns, where price can go either way, depending on whether it breaks to the upside or to the downside.
The measurements of the chart pattern can be used to project the next price movement and what target to aim for. These patterns can either be traded aggressively (with less conformation) or conservatively (with more conformation) so the rules of entry and exit can vary. It's easy to calculate the reward / risk for them, which is important to know before entering a trade.
Following patterns are found for data of 2015 to 2019 (5 years data) on weekly candle chart.
Channel pattern
Flag Patterns
Currently running Head and Shoulders pattern
Remarkable zone 1, 2 and 3
Head & Shoulders pattern is still uncompleted with right shoulder. The neckline target is 10063
At the remarkable zone, its has highly price...
Have a look at the previous video analysis guys:
=>We perfectly anticipated the Descending Triangle shaping up. Since we're in a bullish upmove, we don't have to break it bearish: both break directions are possible, and are gonna highly depend on BTC.
On that note also the direct correlation XRP/BTC is perfectly shaping up...
Very similar to XRP, LTC is also descending, although I'd like to see another bounce in this case building lower Highs, since we have touched the bottom only with the wicks the second time on the 4H. The hourly is more accurate in that sense.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to...
Hey, hey, hey! Wassup wassup wassup? Bitcoinnect!!!
You'll be happy to know the $50 I left on my Bitmex account when I defenitively quit crypto are doing very well.
Went short 130 bucks saturday morning at the price of $10090, and that went rather well :D
So as long as this little money survives I'll still look a little bit and make calls and you'll still hear...
ETH is at the crucial 215-16 S&R Zone: A bullish bounce would lead to previous highs. A bear break could lead to the previous breakout zone.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good...
This last move was important to pay attention to and be aware of whats going on in the markets. Bitcoin has been dominating the landscape for some time and for good reason. It has the most exposure, it has large funds being able to invest in it, etc, etc.... People were creating ways to get into the crypto craze and found ways to do it.
I am not hear to pinpoint...
Hello dear XRP traders/HODLers/friends, hope you're doing well guys.
XRP got completely crushed yesterday when BTC broke the Weekly Equilibrium. I'm going to show you in this video how you could've hedged your 'HODL' positions in XRP to profit from the short break. Edgy is now partnering with Bybit to give you the best trading experience ever. Don't keep hodling...
Hello dear Litecoin traders, hope you're doing well guys! ;)
As we talked already about the Alts, also LTC got completely crushed, which you could've perfetly shorted with out partner Bybit! ;) If you didn't make 20% profits at least yesterday, there is something wrong. Check our link in the description and have fun watching! ;)
If you had some value from my...
Hello dear EOS traders, and let's talk about my favorite trading coin! ;) EOS got completely crushed, but unfortunately my focus was on BTC solely. In any case you could've made amazing profit. Edgy is now partnering with Bybit to offer you those shorting capabilities. Have fun watching! ;)
If you had some value from my analysis, give it a thumbs-up & comment...
Hello dear crypto friends, hope you're doing well! ;) What a crazy day yesterday was: The eventual break of the Weekly Equilibrium happened that we had been calling for the past 3 weeks already.
=> If you played this break, which gave 20% anways straight down, you could've easily made 40-50% gains with our partner Bybit. The link is in our description! Have fun...
..both for a bottom fishing trade, and for the future breakout.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :)
Edgy is providing online education only. We are not a financial...
Pennant and triangles are tend to fail close 70% of the vortex which is the peak level.
By paying attention to this detail you can easily determine the strenght of the pattern you found.
If the pattern fails too early or too late, it means that the market is not paying attention to your pattern.
We're looking to long this pair after the breakout.
Thank you...
We have started week with safe haven gaining strength.. will that continue in week .? currently overall structure in gold is bullish and is still in range trading while trying to move above range... GOLD may continue higher if risk off sentiment remains longer in market... watchout... technical structure is bullish however further retracement towards 1420 zone...
Hello traders!
Welcome to the Crypto Quick Overview chart with major cryptocurrencies of BTCUSD, ETHUSD, LTCUSD, DSHUSD , XRPUSD and BCHUSD in which we will show you how the cryptocurrencies look from Elliott Wave perspective.
In the Crypto market it's important to respect correlations, because they are most of the time moving together in positive correlation....
Hello traders!
After that deeper corrective decline called double zig-zag W-X-Y pattern on Bitcoin , it's time to take a look at potential support levels.
We decided to take a look at Bitcoin dominance ( BTC .D) against the ALT dominance (OTHERS.D), where we clearly see a corrective decline in wave 4 that can find support soon, ideally around previous wave »iv«,...
Hello dear crypto friends, hope you're doing well! ;)
If you thought I'm gone, you're mistaken: We're just warming up! ;)
I'm very exited to introduce you in this video to our Odin indicator framework, which is an idiot-proof system: It has a positive expectancy just by itself, you don't even have to know how to trade to make profit.
Have fun watching! ;)
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“Dragon” is a reversal pattern that indicates almost the very beginning of a trend reversal. The formation of the Dragon tells the trader that market sentiment may change soon and the current trend will unfold.
The figure is a more modified version of the "Double bottom" or "W" shape, while it signals the change of the bear market to the bull market. But there is...
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