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.
I was about to write a big analysis on Bitcoin', but i hope you understand me when i am saying it's just a waste of time.
I think that curved pattern on the left is legit now. On the right we are turning slightly up, we just need a candle close above the red resistance zone. So no more Bart moves or whatever nonsense. The past 2 hours it seems something is going...
Over the years I have found that markets generally trend to the upside over time. New participants create new buyers and old school investors like myself, well we simply do not sell our gold. I know there will be 5 comments on how gold has real world uses, you can hold it in your hand, and blah blah blah. Hey you are talking to a guy that loves gold so there is...
This analysis brings to center stage Bitcoin and the asset mostly linked with, Gold. On this chart, Bitcoin (the digital Gold) shows a quite similar behavioral pattern with Gold's bottom period of the 80s/ 90s bear cycle.
What stands out is this identical +33.50% bounce on Gold and the subsequent Double Top followed by a slow decline before the major lift off....
USDCAD / H1 / Technical Chart
as you see at the USDCAD chart
Support line reverse to resistance line
I will enter to trade at reversal point area, when it will make Bearish candle at that area
or
if it will break and close below the support channel
wish you many pips and good luck fot this week
ETH has been quite strong the past week, showing some real conviction here from the bulls. When looking at the Bitmex chart, we can see volume has increased a lot as well, confirming the bullish movement. Seems this market is changing a bit, at least where the pro's are trading. I talked about this in Dec a several times, now it looks to be more obvious even....
Pretty sick, how it keeps following those line on the left AND the right chart. It's kind of scaring me a bit as well :). Would be nice to see if it follows it the coming weeks as well, because that would mean the market will turn up soon.
Now getting more serious again, this market has been a big pile of crap lately, boring the hell out of everyone and becoming...
AUDNZD / H1 / Technical Chart
After the Breakout of the Wedge pattern,
it tries to get power with bulls,
if it will break and close the resistance channel, it will start to rise fast
wish you many pips
So far XRP' is moving quite identical to the fractal i showed in the previous analysis. We even did that fake breakout (blue circle) and now moving inside of that channel (orange circle).
XRP' is still one of the weakest alts out there, for several weeks already. Based on the fractal, we should see it drop more coming weeks. But i will ignore the fractal for now...
Hi friends! Welcome to this update analysis on Bitcoin! Let's get right to it! Looking at the daily chart, you can see that BTC has printed an explosive move above the 50 EMA (in orange,) just as it did in the bottoming fractal of 2015! If you recall from my recent BTC analyses, I have been comparing a fractal repetition in the current price action, to the...
Hi there,
USDCHF is forming very nice double top dont miss this fall.
Our longer term target is 0.92 and medium term is 0.95 which is not bad.
How you can trade on this chart.
1. Watch lower time frame correction and join the fall.
Or
2. Wait for the price to test the double top again and look for sell from top.
Good Luck
Hi guys, Bitcoin really have nice going from several 8H candles with nice break out and cross up resistance zone for confirm broken downtrend structure.
Using Fibonacci and ABCD pattern I give all you 2 targets for take profit.
From this time, just buy when the price correction down again, not buy in FOMO. Now we are focusing on taking profit from my last...
Hi friends! Welcome to this quick update analysis on Bitcoin! There isn't much to add since the last update, except for the fact that BTC has made another run at the 50 EMA (in orange,) but has not been able to stay above it. On the chart, you can see that today's candle shows the wick piercing above the 50 EMA, but price has since retreated and is currently in...
GBPCAD has just finished a sideways by higher low and higher high.
A new channel for buyers to follow on daily chart.
The new swing is looking for 708 pips pool ahead.
This is totally same direction with weekly chart's direction.
LESS IS MORE!
GBPUSD is approaching its resistance at 1.3004 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where it may reverse down to its support at 1.2893 (50% Fibonacci retracement).
Stochastic (89, 5, 3) is approaching its resistance at 97% where a corresponding reversal may occur.
In my previous analysis i showed a bullish wedge, which was playing out almost perfectly in the blue circle, but in the end it dropped below the support line and made a small crash even. Now usually when a bullish wedge fails, we see a big fast dump happen. But instead we saw if move sideways and even a small countermove up. The past week, XLM' seems to be dead...
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