Hey Friends,
Now that I have a clearer picture after hitting our Cup and Handle Target I wanted to update my post on Ethereum to show where we are headed.
I'm seeing a bullish Pennant Pattern on the 4h. Targets are in green and the resistance is in the orangish yellow.
You should also check out the posts by @ETHHunter for a complimentary view. He's got...
I'm reading "Technical Analysis of the Financial Markets" by John Murphy. Per his book, symmetrical triangles are usually a continuation pattern but a measured move would put us below 0 (along with my ETH idea). They usually break out between 2/3 and 3/4 of the width of the triangle (shown with vertical green lines).
What are your thoughts?
XVG has found support after the pornhub dump, Symmetrical Triangle pattern has formed and looking ready to breakout.
XVG
Buy:750-800
Target 1:830
Target 2:900
Target 3:1000
Target 4:1100
Target 5:1300
Stop loss:650
Initially we have seen the downtrend of EOS display a descending wedge and a break out of that but unfortunately with little volume.
Secondly a side ways motion forming a symmetrical triangle and yet to break out of that..
Hard to say which direction this will play out..
Support & Resistance zones are marked as shown
Let's keep an eye on it.
Good luck
&
Happy...
BTC has been consolidating inside a large symmetrical triangle for a few days now.
Symmetrical triangle patterns are continuation patterns. Although I've been expecting a retrace to the lower support levels, in this case, it broke upwards with good volume and a strong closing candle above the resistance. Therefore, we can expect a good continuation move...
This is the IVOO ETF, but looks very similar to SPY. The question is which way does it break. For reference ("gee that looks almost... wow that's like identical")
Check it. stockcharts.com
Hey there! Here's a brief but to the point analysis on itcoin.
As you can see, bitcoin is on track towards a zone around $9350s (point D) inside the small parallel channel (cyan dotted lines). At this point I don't believe there's enough strength in BTC to breakout, which gives us a good opportunity to short BTC. Bitcoin *should* bounce off the down trend line...
I was until today quite bearish after the top formed on April 25 and a second attempt failed. A head and shoulders is quite likely forming, as I mentioned before, but the right shoulder looks quite detached. Yesterday we bounced of from the yellow trendline, and as I said it was best to wait before it would break through.. we didn't and now we're forming a...
Hi guys,
A short analysis on the short-term on the hour chart for ETHUSD. H&S failed on the right should, the pattern is not valid.
As you can see, we are testing the 2nd Fibonacci up support level [ $674 ], if we break that support with a great green candle, the Adam&Eve double bottom will be confirmed and the potential bullish move could reach $690 again, that...
Updated trendlines and wavecount on this pattern. Maybe BTC will follow it. Hard to figure this correction out, it keeps invalidating all my trendlines and wave counts.
This Trend/Chart analysis was done on 1 day (Daily) Time Frame were we can see Dollar (USD) having a nice strength over Yen (JPY) if talking about longer time frame point of view. We know it did pullback yesterday on nyu session like 30 pips but that might not much affected to position trader (holding deep down ) rather then a scalper (might got tough to decide...
Whats up guys,
Bitcoin has been following some triangular shapes for the past month as demonstrated on the chart.
We're looking at yet another UUUGE symmetrical triangle. Rational thinking leads us to expect a breakout above the upper purple line of this current triangle and a continuation of the Bull Trend.
BUT
We have been fooled before, and we know that...
Reversal or Continuation - Litecoin has liked the triangle formation
Option 1) - Breakout above the 'Descending Triangle' - Bullish Opportunity -
Key Signs -
Breakout and Bar close -
Retrace and bounce off the triangle formation to continue the bullish push
Big Price Movement
Option 2) -...
Looks like GTO did break out of the next symmetrical triangle.
I'm selling some at 0.00007000, some at 7300, some at 7600. Could probably aim higher but eh. Target based on fib extension of wave 1.
I still haven't figured out how to edit or add charts to an existing idea so here's a new one with a working chart rather than a less than ideal screenshot.
