ETHUSDT: Aadil1000x 3-step formationHello traders!
Welcome back to another episode with Analyst Aadil1000x.
This is my old strategy and it is not the top-ranked strategy but yes it's in the top 5 ranks out of my 500+ strategies.
This is a 3-step formation and this formation starts whenever there is a resistance that remains untested.
"Every trendline and S/R level is formed to be broken and after a breakout, there must be a retest" Aadil1000x.
What I mean by the statement is that if a trendline is too steep then it will be broken soon but too steep can not be retested. But if it's not too steep so whether the market reaches anywhere trendline will be tested.
Same in Support/Resistance level it cannot remain untested. If we know the market will come back there so we can count the step so that we can catch the peak of the retracement. In the first two steps, we form the trendline from the bottom, and after every breakout towards the downside Market will rise. On third step we will form the breakout from the top and after a breakout towards the upside market will drop and will go back to the magnetic line. Now the 1126 level will work like a magnet and the market will be there soon.
I am posting a chart of this formation as an example.
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Editorspick
COMMODITIES SEASONAL | GOLD & USOILHello Readers!
Let's find out the monthly outlook of the two most essential commodities i.e Gold and USOIL
Gold on Monthly charts favors bulls for the month of July.Technically the yellow metal has made double top and for last three months posted negative closing. We are optimistic this month as technically it is trading on the support trendline.
USOIL (Crude Oil) monthly gives no clear indication for bulls or bears. However, if you observe closely the crude oil has hit its resistance and is trading near it. We are expecting a downward movement in black gold and pick entries in a lower timeframe
Let us know what do you think of the idea in the comment section.
Candlestick Cheat Sheet You Must To Know➡️ Hi Trader's Whats Up Today ? Am Feel Good With New Education Post Will Inform You Many Details About Candles And Price Action ..
Let,s Start With " Bullish Candle Stick Patterns " ✅⬆️✅
1- Hammer
2- Inverted Hammer
3- Dragon Fly Doji
4- Bullish Spinning Top
5- Bullish Kicker
6- Bullish Engulfing
7- Bullish Harami
8- Tweezer Bottom
9- Morning Star
10 - Morning Doji Star
11 - Three Line Strike
Next Wave Will Be With " Bearish Candle Stick Patterns " ✅⬇️✅
1- Hanging Man
2- Shooting Star
3- Grave Stone Doji
4- Bearish Spinning Top
5- Bearish Kicker
6- Bearish Engulfing
7- Bearish Harami
8- Tweezer Top
9- Bearish Abandoned Baby
10 - Three Black Crows
11- Evening Doji Star
That' All My Friends And Show You In New Post ❤️
Most Popular Types Of Candles How to Read Candlestick charts?
Candlestick charts were originated in Japan over 100 years before the West had developed the bar charts and point-and-figure charts. In the 1700s, a Japanese man known as Homma discovered that as there was a link between price and the supply and demand of rice, the markets also were strongly influenced by the emotions of traders.
A daily candlestick charts shows the security’s open, high, low, and close price for the day. The candlestick’s wide or rectangle part is called the “real body” which shows the link between opening and closing prices.
This real body shows the price range between the open and close of that day’s trading.
When the real body is filled, black or red then it means that the close is lower than the open and is known as the bearish candle. It shows that the prices opened, the bears pushed the prices down and closed lower than the opening price.
If the real body is empty, white or green then it means that the close was higher than the open known as the bullish candle. It shows that the prices opened, the bulls pushed the prices up and closed higher than the opening price.
The thin vertical lines above and below the real body is knowns as the wicks or shadows which represents the high and low prices of the trading session.
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1- Hammer Candle
Hammer is a single candlestick pattern that is formed at the end of a downtrend and signals a bullish reversal.
The real body of this candle is small and is located at the top with a lower shadow which should be more than twice the real body. This candlestick chart pattern has no or little upper shadow.
The psychology behind this candle formation is that the prices opened, and sellers pushed down the prices.
Suddenly the buyers came into the market and pushed the prices up and closed the trading session more than the opening price.
This resulted in the formation of bullish pattern and signifies that buyers are back in the market and downtrend may end.
Traders can enter a long position if next day a bullish candle is formed and can place a stop-loss at the low of Hammer.
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2- Hanging Man
Hanging Man is a single candlestick pattern which is formed at the end of an uptrend and signals bearish reversal.
The real body of this candle is small and is located at the top with a lower shadow which should be more than the twice of the real body. This candlestick pattern has no or little upper shadow.
The psychology behind this candle formation is that the prices opened and seller pushed down the prices.
Suddenly the buyers came into the market and pushed the prices up but were unsuccessful in doing so as the prices closed below the opening price.
This resulted in the formation of bearish pattern and signifies that seller are back in the market and uptrend may end.
Traders can enter a short position if next day a bearish candle is formed and can place a stop-loss at the high of Hanging Man.
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3- Three White Soldiers
The Three White Soldiers is a multiple candlestick pattern that is formed after a downtrend indicating a bullish reversal.
These candlestick charts are made of three long bullish bodies which do not have long shadows and are open within the real body of the previous candle in the pattern.
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4- Inverted Hammer
An Inverted Hammer is formed at the end of the downtrend and gives a bullish reversal signal.
In this candlestick, the real body is located at the end and there is a long upper shadow. It is the inverse of the Hammer Candlestick pattern.
This pattern is formed when the opening and closing prices are near to each other and the upper shadow should be more than twice the real body.
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5- Piercing Pattern
Piercing pattern is a multiple candlestick chart pattern formed after a downtrend indicating a bullish reversal.
Two candles form it, the first candle being a bearish candle which indicates the continuation of the downtrend.
The second candle is a bullish candle which opens the gap down but closes more than 50% of the real body of the previous candle, which shows that the bulls are back in the market and a bullish reversal is going to take place.
Traders can enter a long position if the next day a bullish candle is formed and can place a stop-loss at the low of the second candle.
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6- White Marubozu
The White Marubozu is a single candlestick pattern that is formed after a downtrend indicating a bullish reversal.
This candlestick has a long bullish body with no upper or lower shadows which shows that the bulls are exerting buying pressure and the markets may turn bullish.
At the formation of this candle, the sellers should be caution and close their shorting position.
Don't Forget To Like And Follow To Next Part
WAVESUSDT - TURBO UPDATE!Price has printed an ATH on April 22 for 64$ with the strong parabolic move. The drop was more serious than the upside surge as the price lost around 90%. This creates panic amongst traders as they expect more from WAVES.
This downtrend stayed approx 60 days and the price printed a LL of almost 4$. But from the previous 2 days, the Bulls stretched their muscles once again by putting so much Volume.
Price has already tried to bypass the strong resistance area but finds it difficult. So keep following the price action as we expect a strong upside in upcoming sessions. Good Luck! Trade Accordingly.
BTCUSDT - CRITICAL LEVELS IN PLAY!BTCUSDT UPDATE:
Bitcoin price is again flirting the range support and wants some Bulls volume. If we look at the previous action, when the price hit that zone it gets substantial volume around 100K.0 approx, and there is a strong pullback towards the top. Sooner or Later price will break that range, but we need to understand the price action established on the chart. Fear and Greed on a Low level since the Covid crash and Strong Project are vulnerable and a strong pullback is inevitable.
USDCHF | BEARISH TRENDUSDCHF after defining a top around 1.00
We saw a reversal sign as indicator suggesting bearish divergence.
It has broken rising trendline (white). Since then the pair is printing lower highs and lower lows.
Currently price is trading at short term support where EMA200 sustain.
Trade your levels accordingly.
EURNZD | RISING WEDGEEURNZD has been trading in rising wedge (bearish pattern). Currently price is approaching to the support of the wedge.
We are expecting a rise from here as multiple confluence point reside there. We have EMA100 and fib 38.2% level and trendline support.
However, break below from fib level will be all over for bulls and trend will be bearish.
BTCUSDT - POSSIBLE SCENARIO!BTCUSDT price showed positive momentum and broke down the symmetrical triangle then retested. Today, when the international market opened price, dropped again and struck the triangle again. If it is sustained above then bulls can take the rally towards 35k otherwise a complete selloff towards 23k. Let's see how price action develops.
FTMUSDT - WEEKLY SETUPFTMUSDT price has finally touched the EMA 100 almost the first time after aggressively moving and printing an ATH. So, This point will not be an easy road to cross for the Bears. Although it's a very High time frame which is weekly, the effect will trickle down towards a short timeframe definitely. So for FTM upcoming sessions could be very interesting. Buy on every Dip will be a suitable strategy.
BTCUSDT - UPDATEBTCUSDT price hit exactly a support and bounced. Bulls react quickly and bring the price back into the range. That is a good sign for long traders, but can they contain for a few sessions? A BIG ASK!
On Monthly, Prospective is still on a bearish side because strong support is still untied. Any downside can create excitement for Short traders towards 37K or further. So play smartly!
AMCUSDT - SETUPAMCUSDT price is approached at a key level where a strong confluence lies. EMA 400 almost absorbed the bearish momentum and gave the bulls a strong position to get back into the game. FIb level also plays a supportive role with RSI at Oversold Zone. Price already posted a breakout last week and retested. So keep accumulating at these levels.
BTCUSDT - SETUPBTCUSDT price is ranging after giving a breakout on a shorter timeframe between 40700-40300. Now breakout is inevitable, Price got a rejection from EMA 21 and any closing above this level ignite a move. On the flip side price should maintain an HL otherwise we may see a downside up to 39300 - 39400 initially.
BTCUSDT - POSSIBLE SCENARIO!BTCUSDT price showed some negative momentum yesterday and approached the critical level aggressively, now a relief bounce happened in a shorter time frame but let it be mature on the at-least 1D frame. If bulls retain and regain that area, we could see a roller coaster ride in the coming session. Like a little wick can create a panic situation and a quick pull back can be seen. So watch out carefully!
Long on this oneNot finacial advice but it is looking good to add ro position, in the longer period 2-3 years should go above $120…but as we know thw only thing certain in life is death, keep making profits live a peaceful humble life and share your wealth with the less fortunate, educate those around you so you all grow together.
Bullish pennant? Like comments Educational purposes only, we broke out of that pennant where should we go now, I don’t know honestly but Im expecting a dip to add some more BTC below $25k if it happens , mid term in my opinion we will go to $50k then drop back to the $32k-$47k range. But longer term 5+ years btc should be above $100k, not financial advice, do your own research
Why 80 zone can be the beginning of the next BULL RUN? : SOLANA Before continue ,Please do follow like and comment :) (READ THIS POST)
SOLUSD
Solana is the fastest blockchain in the world and the fastest growing ecosystem in crypto, with thousands of projects spanning DeFi, NFTs, Web3 and more.
In few years I see a massive adoption of NFT'S WEB3 , METAVERSE , Spanning DeFi and more if that happen solana right now is sitting in interesting price levels , as you can see we just reach an important level of demand in confluence with the 0.718 level. To be honest For me this can be an interesting buy zone.
Why solana can increase in value in few years ? (fundamental approach)
Pocket-friendly transaction charges Business-wise, Solana should have a high transaction fee because of its fast, huge transaction capacity per sec. Solana remains one of the cheapest when it comes to the transaction fee. Unlike bitcoin, which could cost $5 per transaction, Ethereum about $10 to $65, Solana’s transaction charges range from $0.00025 to $0.0001. It is worth noting that this ridiculous transaction fee on the Ethereum network would be reduced once the network fully transitions into ETH 2.0. Nonetheless, Solana remains the cheapest.
POCKET FRIENDLY SOLANA FEE
Unlike bitcoin or even etherum thas has high fees and not profitable fees , solana has the cheapest fees. Even if ETHERUM 2.0 is going to have cheaper fees once they increase the capacity of transactions solana fees are something like : 0.00025 to 0.0001
HUGE TRANSACTION CAPACITY!= INSTANT
Solana has a strong transaction capacity. Bitcoin for example has a transaction capacity of seven transactions per second, Ethereum handles about 30, and Solana has a capacity of 65,000 transactions per sec. No network has been able to achieve this fit like solana. However, Ethereum is on the verge of transitioning into ETH 2.0 to improve its scalability and reduce its huge transaction fee. After this upgrade, Ethereum should have a carrying capacity of about 100,000 transactions per sec.
Currently, Solana remains the fastest network among all other cryptocurrencies. Even when compared to visa card that has about 24,000 transactions per sec capacity, it should be noted that some of these transactions might take days for confirmation.
COMPATIBILITY WITH SMART CONTRACTS
Etherum quickly became the father of defi however, solana can run better application and fasters than etherum. Solana can overdoo cardano and become the defi father
The setup will be invalidated if we broke below the 80.00 price however I'm bullish in longrun
This is not a financial advise, it's just my point of view