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Chart-patterns

GBPCAD SHORT OPPORTUNITYIf you're a chart pattern trader, you'll most likely be able to spot what looks likes downwards channel which we anticipate a short move to the downside. A multi-timeframe analysis should give sufficient confirmation for a sell setup. You may decide to enter at current market price or set your pending orders below. My preferred timeframe of entry is the 4 hour timeframe. Any comments, suggestions or contributions are welcome. Have a lovely weekend and look forward to a new pipsful trading week ahead.
Short
by DalitsoTembo
TARGET REACHED - PULLBACK IMMINENT?Hello Traders, Quick post to update. We've reached our $17,146 target. It is my comfort level to take most of my profits here. For those who are more risk adverse, you may decide to hold. I do not feel comfortable holding any longer. My target of $17,146 AND $17,784 were both reached and we are overextending ourselves here, IMO. RSI is overbought and we're well above our 9 month channel. If I was a betting man, I'd say a pullback to a range somewhere within or around that channel is imminent. Though, I didn't get past predictions exactly right in terms of timing (and I did miss one lower level target), almost all of my targets have been nailed. I don't want to push my luck. We are on a good winning streak here. Finally, an extremely significant development has taken place since my last post. You will notice that Huge Line of Resistance. Previously, that was our overhead resistance for over 2 years. We have broken through that. THIS IS AN EXTREMELY BULLISH TREND! And for this reason, I had hesitated making this post suggesting a shorter term pullback. Our pullback may not happen. The bulls are very strong here. However, until they are able to break above (and confirm) our $17,784 marker on the daily, I will continue to suggest a near terms (within a month) pullback. I will be looking to go long again as we come back into our 9 MONTH CHANNEL. Hope this helps some of you. Happy trading all!
COINBASE:BTCUSDShort
by stewdamus
Contrarian View - Bitcoin Overbought - About to Crash Hard - 8kI'm going to put this out there, like I often do. I don't see this recent Bitcoin move as a breakout. Yet. $12,500 must be breached AND confirmed on the daily. As you know this requires (2) two candles, (1) one to break above and (1) one to stay above that area which is currently huge overhead resistance. Also. See that slightly downward sloping BLACK trend line? Yeah. We have NEVER confirmed a break above that since Jan 2918! Yeah that's right. 2018. Almost (2) two years! Yes, we have broken above. But, NO, we have not ever confirmed with a second candle on the daily. This statistic is extremely important to note. My feeling (and I could be completely off on this), is that the U.S. stimulus resolution does not get passed today, OR some other negative news is revealed, and the market collapses by close of business tomorrow. As you know, Bitcoin has been correlating it's moves tightly with the broader market. If we do start to move down, target area remains at $8000 as I charted in September. Though, we may not hit 8k by the end of November. This U.S. election crap/confusion could move us all the way into the Jan 2021 time frame. This is just my gut prediction. Too early to call at this point. But I thought I'd throw this idea out there as a contrarian possibility for you all to consider. We'll know by tomorrow for sure. And if I am wrong, I'll be publishing a whole new chart. At that point, I see 17k+ in the charts by Jan. As for me, I remain mostly in cash at this point until the market reveals which way it will go. Best of luck traders. Be safe! A lot is up in the air. A lot is at steak. And there are a lot of unknown variables which could rapidly change at any moment. So, please be careful.
COINBASE:BTCUSDShort
by stewdamus
1
Rising Wedge in AUDUSD.Hello my fellow traders, hope you'll making some profits. We are here with our new analysis so that we can increase those profits for you. Let’s get into the analysis. We have posted two charts. The D1 time frame chart is in the comment section, which indicates the support and resistance. On the H1 chart we can see that the pair is moving in the rising wedge with a new higher high while not breaking its previous higher lows. It will be interesting to see if it continues inside the wedge and move up till the resistance or it breaks the wedge support line and starts falling. On the weekly chart you can see that the long term trend is on the down side. Let us know your views on this in the comment section. Thank you all. There is a good news for our followers. We will be doing analysis on demand. So let us know which pair you want our analysis on and we will get it for you. Do like and follow us. Ryan.R.Lopes
by Ryan_lopes
GBP/USD 4H SHORTGBP/USD May fall 80-100 pips Insight - Price has pushed back up just below resistance at 1.2222 and support now at 1.2040 after forming a double bottom. Two touches at the resistance line after possibly a third rejection, this could mean more downside if entry for the sort is reached. Intraday - 4H Trade: Sell Sell or Below 1.2040 Entry: 1.2117 Target TP: 1.2040 & 1.1915 Pivot and Support 1.2040 Alternative scenario: Trade: Buy Buy or Above: 1.1226 Target TP: 1.2297 & 1.2407
Short
by julez