So I often see setups of past moves repeated in smaller timeframes. A lot of people might think a small timeframe trade setup needs eyeball attention thus your time applied to charts and screen time. True or not, it’s a traders choice.
Besides patterns just jump out at you at times, so, trade what the market gives you... is what I say.
On lower portion of this...
Chart time frame - H4
Timeframe 1-2 Days
Actions on -
A – Activating Event
Market will meet resistance in zone @0.8637 - .... and fall to the 0.854. In order to enter, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market move towards the first Target 1 level @ 0.854
Just a quick look on the USDCAD and we can see that price formed an ascending wedge pattern. There are some important levels marked on the chart which would complete the ABCD swing, but that remains to be seen.
Happy Trading, folks!
CLOAK/BTC, 5/23/18, analysis completed at 9:00 PM EST, by Michael Mansfield.
Hi trader friends, for this post I am using “3 day” price bars with Candlestick wicks removed. And, we are using Log Scale, which can make a huge difference in look and analysis results. Read why below. But first...
BOTTOM LINE FOR CLOAKCOIN:
CloakCoin is likely in the late stage of...
After a nice climb TRON, TRXBTC has consolidated and found support around the 0.00000485 level. This looks like a good support area cause the 0.00000485 - 0.00000500 was several times previous support and resistance area.
When you look at the Elliot Wave theory then you could see a bullish ABCDE pattern forming on the hourly chart. If this ABCDE pattern does...
There are many ways to trade a breakout and a good one to trade during a bull market is the Flat Top Breakout.
What is a Flat Top?
A Flat Top occurs when there is a clear resistance level (flat top) and a slope of higher lows, indicating the upward trend:
As you can see in the chart above, the pattern looks like a...
In life but as much so as with trading, we tend to make things more difficult than necessary. That's why with trading it's best to keep things simple and focus on effective strategies that have a high probability of success.
In this regard, a rather unknown but simple and effective trading strategy with a high probability of success is the Box Breakout.
We love it when prices are going up but what if when prices are trending lower. Can you profit from that too?
Well, let's take a look.
When prices move lower rapidly and the indicator(s) gets oversold, some of the best rallies occur when they bounce back. These trade opportunities are the so-called "oversold bounces".
Usually, these oversold bounces can be...
As you can see Ripple, XRP/BTC has been consolidating after a nice runup since yesterday and is now forming a (bull) flag pattern.
Is XRP/BTC setting itself up for another move up? Well, we have to see about that but with all the rumors and hype around Ripple possibly being the next coin to be added to Coinbase, it could certainly make another move again soon....
Have you ever been in the situation that you've missed a huge move on a coin but you didn't want to chase cause you were afraid that it would tank or dump on you?
Well, my friend then you're not alone!
Of course, depending on the situation or pattern formed, it's best to not chase a coin that's up a lot already. Usually, you're (too) late and there's a good...
One of the best and one of my favorite (day) trading patterns and strategies is the flag or triangle break, especially in a bull market or after a huge run or in a clear uptrend.
In this post, I want to briefly cover what a flag or triangle break pattern is and how you can trade this pattern with an example on NANOBTC.
What is the flag break pattern?
A flag or...
Trading patterns ahead of ECB, "Bearish Gartley", as a possible double top. When it happens, expect further downside to 1.16 and perhaps even lower. Will follow up with Elliot Wave Analysis as market structure forms in coming days.
Here we have a beautiful high probability bearish setup
A nice bearish Bat pattern (yellow)
Potential Minor price rejection at 1.56785
Potential target 1 at the Minor price at 1.54000
Trade safely guys !
(For me, trade will be taken if price goes outside the Bollinger bands & RSI overbought/sold)