I show what happened after two wedge formations. Note carefully wedges do not rule the market. The create probabilities not predictions. Wedges do fail. There is hardly ever a perfect wedge pattern. The most recent one doesn't look too great. Price can fall out of a wedge and rock back in as you will see. Therefore trendlines drawn have to be estimates. From...
The fundaments for today are in line with a long position on this pair. The state of the market on the 1H was a range, but the price broke this range. Price broke the highest price of yesterday's New York session with 60%. This breach has a fibonacci pullback of 61,8%. on the 3m chart there's a v-formation with several test and sellers getting weak.
After the blow off this week, it looks like Bitcoin if forming a Bearish Pennant pattern going into the weekend. Stay safe out there, keep those stop-losses tight if you're trading, but I am sitting in Tether until a confirmed break or re-consolidation happens.
There's Double Buttom formation in the chart. I think from here it's gonna be long for sometime
Hello Traders! After the 10 consecutive victories in BTCUSD in the month of October, we lost in my previous post. But we will again make a good winning streak with the same strategy. In my last idea, I posted an educational post about the J pattern. In which I gave the guide on what to do after the J pattern Formation. I have attached that education Chart Below....
Now don't get too excited we could be in this range till November/December - Let me explain further why? Fundamentally to get the markets moving : - Uncertainty from elections - the polls may not be as trust worthy just like it was yrs ago.. - We are still playing circus act with stimulus (QE) Whilst this plays the same way - we will be in a range until...
It could be good place to make an Crab formation after long uptrend.
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Bullish pennant forming. I will be awaiting a break and a retest and then entering, targeting previous key levels as a take profit zone. SL will be tight and placed just inside of the pennant formation. I don’t normally trade on a Friday, but a pennant is a pennant. Tight stops ensure that fake-out fridays doesn’t hurt too much.
EURUSD is ready to complete the cup formation. Then we'll observe the handle. We have to be careful about MA 20. If it breaks below, we may see downward action. Price that is higher than MA 20 is still long in my opinion. If you enjoy my graphs, like and comment. Your feedback will always be appreciated. Thanks!
I can clearly see the market cycle forming the most common pattern. We are at the peak of level 3, end of 2 weeks bullish cycle so I'm expecting consolidation in the Asian session, rise in London session, and the drop in New York session. NOTE: That's only what I see, doesn't mean it will happen! Please DO YOUR OWN ANALYSIS before enter any trade! Good luck...
Clues: Trendline breakthrough, 50 ema crosses the 200, tweezer bottoms on weekly TF, W formation. We are at level 1 expecting level 2 to form this week. Look out the news for GBP this week! Note: Please do YOUR OWN analysis before you enter any trade! Good luck fellow traders ...!!
On the Weekly RSI , you can see a formation has been resolved to the upside and the RSI line tested the formation and became support. And on the RSI , the MA and EMA of it have a positive slope. So far So good. This formation is on CME and Spot at the same time. On the other hand on Moving Average perspective the lower periods are on top of higher...
Hello Everyone, Here we have very well pennant pattern sample on #USDCHF. If price breaks to the upside of pattern, we can look forward for long position, If breaks reversely then short position is also possible with nice rewards. On Daily Chart , trend is up, so mostly we will see the pennant broken out through upside, according to the normal behavior. After...
Euraud is going to break this formation to upside. Target is set to strong resistance. Hit the like button if you find it helpful and informative and follow to catch every wave correctly.
What is a "Head and Shoulders"? The head and shoulders model is a figure in the technical analysis that looks like a baseline with three peaks, the outer two are close in height and the middle is the highest. In the technical analysis, the model describes a specific formation that predicts the reversal of the trend from bullish to bearish. The head and shoulders...
I haven't seen anyone else post it so thought I'd give it a go, the rising wedge pattern is a common formation in bear markets, the closer price moves within the formation to the apex point, the more likely a breakdown will occur and we are close this point as seen in the chart... We have been respecting this pattern really since the start of the rally which...