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Chart-patterns

20191105 XRPEUR Open Short PositionHi there, Just and idea after analyzing XRPEUR Movement this year and areas, specially supply and demand, and some chart patterns that indicates the price could go down before it starts up. Right now, it's starting to curve, giving sign of downtrend. As usual btc goes on the hand of btc and since you may see in some analysis i have made on BTC, this could go down too. More than once i have noticed volume blocks on Kraken on 0.19 euros. This could be anothr sign too. So, in personal opinion, it could be a good place to open a short position for a couple of months while price goes down to demand area. Again, Just personal Idea and not financial advice. Cheers! Charter X
Short
by CharterX
The CORRECT way to trade chart patterns - Head & ShouldersSimplified psychology of chart patterns: Traders learn chart patterns but are to impatient to wait for them to show up in the right places. The point of learning to spot patterns is to be in a position to enter a reversal before price takes off. The KEY to trading chart patterns is to only trade them when inside a channel. The attempt to enter into a position should be up against the top or bottom of a channel (selling the tops, buying the bottoms). UNDERSTAND HOW PRICES MOVE: Prices move in levels, creating new levels above or below a current level. These levels can be formed sideways or diagonal. It will do this on every time frame until it reaches a point it can't break through. When a breakout of a channel occurs, price will continue in a given direction until it forms a new top or bottom, which creates a whole new level. Price will continue to trade inside this newly formed channel (from top to bottom) until enough momentum is created to push price OUTSIDE the level. The same process will restart. UNDERSTANDING HOW TO ENTER A TRADE: The higher time frame trend should be the direction a trader intends to enter. Once channels are identified, a trader should be watching for well known chart patterns to form on lower time frames AT THE CHANNEL'S top (if trend is down) or bottom (if the trend is up). THE EXIT STRATEGY should be approached similarly. For example, if the entry was LONG (at the bottom of a channel), then the trader should anticipate selling half of the position at the TOP of the current channel once a newly forming chart pattern paints a picture of weakness. CONCLUSION: Chart patterns are only useful within identifiable channels/levels. The highest probability to win a trade is entering into a chart pattern that is formed at the tops or bottoms of these channels. Exiting portions of the position should be approached the same way, in anticipation of chart patterns being formed on smaller time frames at tops/bottoms of channels/levels.
COINBASE:BTCUSD
by BillionaireTomBoi
Sir, the channel has been takenThe channel is gone, just as we predicted. It's a sad day to lose such a strong channel, especially for you bulls out there who stayed optimistic. Earlier, bitcoin bounced out of the channel that it was steady trending in due to a quick 1 hour bump in bear volume. If this pressure keeps up, expect to fall all the way down to the .5 fib level, where heavy bear volume bounced bullish earlier last week For you bulls out there - it's a waiting game. Wait till you see confirmation after a new trend formation. For you bears out there - you might see some more gains once this .382 fib level is broken. For you newcomers, it's a 50/50 right now. be careful entering with leverage What do you think? Is this just a head-fake, or are the bears taking back some control? -Block
BITFINEX:BTCUSD
by block21e8
Churchill Downs even with good news, is in a time to short CHDNAll the news looks positive here -BUT- Looking at the charts, even with the recent split, it all shows sell short. If you are in this stock long, it is time to sell now, and rebuy maybe in a few months. I am shorting CHDN right now, as it seems to hit its peak on the trend line, and I have 4 targets laid out for those that want to hold on longer than others I believe it could hit all 4 targets especially with people starting to watch their money at this time, until we hit the March Madness season and the actual Kentucky Derby race in May. Thoughts?
NASDAQ:CHDNShort
by jeffyanzo
Really all depends on BTC, doesn't it.So basically, we have a few scenarios. Mainly, watch BTC closely for a while. Everything is really based on the price of Bitcoin still. Infuriating. Anyways, Neo seems poised for greatness, however, there are a few larger channels we have been a part of much earlier. Blue is up - confirmed trends/channels. Orange is down - confirmed trends/channels. White is the general channel we have been stuck in for some time now. Price is likely to remain well within those ranges. The current uptrend is pretty fun, but I'm not sure it will last. Price convergence on the channel intersections seems to play a role. Not advice. Just a lonesome Crypt-Keeper. Don't bet on me.
N
by Ignignokt
GOLD UPDATE 27-12-18Gold still manages to push further up. This is most likely due to the heavy volatility and uncertainty around the indices. Right now Gold is touching long term trend support that turned into a resistance after we broke it earlier this year. Next to that, the price has been moving up in a curve like structure which is never a sustainable move for the long term. Next to that, RSI is starting to near overbought areas and we are facing a very heavy resistance area soon. This resistance are is the area of bearish wave 2 that started at the previous interest hike of the FED. I would be very surprised to see this all break up. if it happens, it would be massive and we could be going to test 1300 again, even 1360 is possible then. For now I am bearish, I expect a bearish movement after we are reaching overbought prices and when the price reaches the heavy resistances that lie ahead. From there a move down to the parabolic support line where we go sideways up for some days. Eventually I expect a break of that parabolic support to continue for more down-movement.
TVC:GOLD
by Aurelius222
ADA BTC 11.7% scalping opportunityADA is situated into a wedge which is can be both bearish or bullish but if we zoom a little bit the picture we can see there inversed head and shoudler which can breakout soon We have a target of 0.786 fib resistance which is 1299 sats -0.02% and also the top of this wedge .It s a really nice breakout setup to a long scalping Targets: we put below fib resistance to be sure they will hit 1)1230 sats -0.02% 2)1270-1287 sats -0.02% Stoploss:1138 sats -0.02%
ALong
by CryptoRomaniaTD
USD JPY Patterns idea for going long?I went long at the yellow highlighted area where I hoped it would keep the bull trend going. The last two purple highlighted areas seemed like a on going pattern where the third purple area near the yellow, is doing the same thing where I predict it may follow the dark green and dark blue lines, getting as close as it can to 113.000. If it does not go that way then it may follow the dark red line becoming a bearish trend, maybe a twin buy for a come back.
by mezaulysses
PIVXBTC-Why I think an uptrend is probable www.tradingview.com Reasons for going long: 1.) RSI bullish divergence. PIVXBTC for the past month has been making lower lows but RSI has been increasing. 2.) There's an enormous TS and KS difference which indicates probable retracement of the price to higher values. 3.) I'm trading on binance and the main thing that is stopping buying momentum from building up was a sell block at 0,0002632 btc. If I had to guess, this is probably a buy stop for a short and if that breaks there isn't much keeping the price from going higher.
Long
by konosmgr
Big move for little brother this week/weekend!Little brother follows big brother. I'm not going to re-hash all the points I made in my BTC post. You should read that for yourself (link below). But I will make these additional points for Litecoin: 1) Hitting 50 day moving average 2) Hitting major GREEN trendline (great support) 3) GREEN TL intersecting with 50dma 4) Did I mention LTC follows big brother BTC? It's coming friends. I sense it. A big move should happen soon, maybe as soon as this weekend. Peace and happy trades all!
COINBASE:LTCUSDLong
by stewdamus
2
Some pullback on BTC in the coming week(s). Then all systems go!Well, in my last post I had identified a H&S that we were watching to see if it played out. It did not. Bears failed to break the neckline. Failed H&S patterns tend to reverse bullishly very quickly. That it did. What now? Well, if you're a bull, waiting patiently to get in before we rocket off, you may have one more chance. If you're a bear, I am finding it harder and harder to observe many significant bearish indicators. What I have noted here on this chart is that BTC is currently engulfed in to not one, but two, bearish ascending wedges. These are to be distinguished from ascending triangles, which are very bullish. Ascending triangles have a horizontal top. Ascending wedges, which are bearish, have an ascending top. I am expecting that we might go a bit higher within each one of these wedges, but that withing the next coming week or weeks, we will break down. If we fall out of these ascending wedges, it is still possible that we travel down to the 7.5-8k range which I predicted in my previous post if the H&S pattern were to play out. Two more indicators that we are not fully bullish include: a failure to break 54 on the weekly RSI AND, on the weekly chart, we still have not completely conquered the BLUE descending trendline. I'm not one to tell others how to spend their cash reserves but IMO, it's seems likely a better price could be offered to buyers in the next coming week or so. Try to ward off that FOMO. Hold tight. And wait for your best buying opportunities. I know this is hard, especially sensing that we are very near the end of the bear market and then all signs are GO. So, I don't blame you if you do buy here. I'm just suggesting that you might find a better price in the near term coming days. Peace and happy trades all!
BITSTAMP:BTCUSDLong
by stewdamus
2
Everybody is bullish again. That's because their not seeing thisHi friends, First of, I am actually bullish long term. However, short term we do still have some hurdles to conquer. For this reason, I still remain neutral to bearish short term. So let's take a look at what I've got here. You can see that Litecoin has fallen out of an important ascending channel (outlined in BLACK). At almost the same time, we also fell back under the 200dma. We're also under 58 on RSI, an important number as is 54, which we're currently just under and flirting with. My suspicion is that little Litecoin just wants to kiss daddy 50 and mommy 200 one last time before a final send off into next year. Be ready for that final discount window to open buyers. Peace and happy trades.
COINBASE:LTCUSD
by stewdamus
6