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.
During the down move there has been many levels where we have watched for corrections, up moves, down moves, and so on. But, there is probably none AS important as the current support zone outlined in my chart. As you all saw in my last analysis, I have outlined the same support, and a lower side-wards support line where price will likely bounce for the up move ...
At previous analysis we have a good bullish run after touch fibonacci support,
In this analysis, we split our chart in 3 pattern :
1. Inverted head and shoulders pattern
You can see inverted head and shoulders pattern already perform,
to trade with this pattern, we can buy after neckline breakup, and wait for retest at 6639
For target, we can aim at inverted head ...
Bitcoin has made maybe 5 attempts to make that inverse H&S around the 6500 neckline, but they have all failed so far. This time it got rejected again at 6500, but with all the action going on yesterday, don't think it will fail this time (read my last few updates of the previous analysis, with a big whale buying big amounts of Bitcoin around 6250/6300). Unless a ...
If you want to trade with the percentages on your side then you should not buy right now!
Why?
Because I see a big head and shoulders formation forming.
And if this pattern plays out we will fall for a while and you will be able to get your BTC much cheaper.
But even if the pattern doesn't play out it would not be a good idea to buy right now (at least if you ...
Check out my last analysis. I said I would be laddering positions down to this 275-300 ETH area. My point C target on my chart wasn't perfect, but it was pretty dang close. You're Welcome.
https://www.tradingview.com/chart/ETHUSD/kSnnwTCU-RSI-oversold-on-the-Daily-ETH/
Current Conditions:
On the Daily:
RSI is confirming the bottom.
MACD is almost ready to ...
Hi there, EURUSD is still bearish we can see one more drop on lower time frame.
Watch bottom for 1st impulse and reversal then.
If EURUSD is not going to test the top again then at least it will form a Trend continuation pattern before we see more downside.
Good Luck
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Hello guys,
BTC recorded great achievement yesterday with closing with full candle and above the previous high.
Yesterday we spotted CUP and Handle formation and again with how BTC closed yesterday we has another pattern in view which is INVERSE HEAD and SHOULDER.
We may see some retracement down before major move will start again.
I appreciate you guys for ...
Hello, dear friends!
Bitcoin shows heavy resistance at 6600 and 6800. On other hand we have higher lows, with demand/support zone at 6200.
On the left screen 1h chart, price stays above MA200 - which is bullish signal for us, lets take a look at history:
July ...
The whales have pumped the alt coins to trap buyers in alts while bitcoin prepares to retest the $5900 support line again. I am betting it will fail and we will see a flash dump like in 2014 with $5400 as a conservative figure.
The 20 and 50 day moving average have crossed with the short term heading downwards. I have liquidated my alts that I purchased a few ...
If this trend holds, we can actually see ripple at $50 one day.
Quite something. I wonder what would require for that to happen to be true.
Mass adoption?
Ripple becomes a blockchain ledger?
Bittrex and Ripple doing something new?
Either way happy camping
**LEGENDS**
BLUE = Bear/Resistance
Yellow = Bull/ Support
~Explore the chart for possible scenarios ...
Hi TradingView Family,
I am going to let this chart sit here and do the talking. I do not think we are in the clear yet for a positive range north of $6,500. i think the next "true" run will be after this movement. Every time we hit the $5,800 number we have always tested and bounced north but each time the positive rebound waves get smaller from Feb, April, ...
The volume in the 3x leveraged junior miner fund jumped in the last few days.
We had a capitulation type of volume price dropped hard.
https://www.tradingview.com/x/DiVEc8hM/
After today's powerful start bears tried to take control but it was enough only to take out the stops of those who entered today. The opening gap was not filled.
It seems to me the bottom ...
Good Friday morning, traders. We saw another attempt by the market to push price up and through the $6450-$6650 resistance but the sell walls were dropped in when it did. Ultimately, we saw a high of $6562 this morning with a sharp sell off immediately afterward that led to a low of $6405. The high was at the dashed horizontal resistance line that we've had in ...
