First of all thanks for the likes and dm's about the BTC idea from yesterday. Appreciate that :)
In front of you the 4hr chart of bitcoin.
Yesterday I published a possible descending triangle formation, but after the move of 12hr ago there is also another possibility. The strong support and strong resistance where broke LIKE NOTHING. That was a great...
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SINCE YESTERDAY DUMP OF BITCOIN, THE PRICE BREAK BELOW THE LOW LEVEL
SUPPORT OF THE SYMMETRICAL TRIANGLE WITH AN 50/50 OUTCOME. NOW IT LOOKS
LIKE THE BULLS ARE BEING WEAKER AND WEAKER.
AT THIS POINT WE'RE...
Right now the market is on a downtrend channel as a trend trading setup, if the channel holds it produces another shorting opportunity.
However, if it fails, a bearish shark appears within the sell zone for a trend trading opportunity.
Price is at channel top.
Option 1 - Price breakout channel top - wait for daily close above channel top.
Option 2 - Price bounce off channel top - Enter short on candle close below 38.2 fib - TP channel bottom.
Option 3 - Price at channel bottom, A price bounce bullish, B price breaks below channel bottom.
Short trade - Wait for...
Price has been in a descending channel chart pattern
Option #1 Entry on a Daily Close above Channel Top
Option #2 Entry after Break-Hook-Go pattern completes
3 different Take Profits at resistance levels
Stop loss below swing low
IT seems everything between 500-550 is a hold.
If price breaks below, next support is around 450, if that fails, look for 300 as your final entry and accumulation point.
Watch for target points of exits, and see where potential points of resistances are at.
If you got anymore questions ask.
Good luck everyone ;)
BLUE = Bear/Resistance
I haven't been keeping an eye on this setup, so I got to pay for that by missing the initial breakout. However, the upward/bullish sentiment is still prevalent, so we can still take advantage of that.
As we can see, we had a pretty long descending channel and fortunately for us, it broke above the resistance line and we are now anticipating the market to test the...
PLX broke below support last week, following its earnings.
If PLX won't close above support this week (which looks like it won't... but still about 60 minutes to the close), it will probably continue lower.
The next potential Buy Zone is near 0.18$
The chart shows that near 0.18$ we have:
- Completion of a bullish Butterfly pattern
- The bottom of a trading...
Ranges, Descending Triangles, Triangles, & Ascending Triangle are repeatable trading chart patterns.
Triangles and ranges are consolidation chart patterns that can breakout either direction.
Ascending and descending chart patterns will have a directional bias depending on the previous incoming trend.
Each chart pattern will have defining trendlines of the...