Trend lines can be used to identify and confirm trends. A trend line connects at least 2 price points on a chart and is usually extended forward to identify sloped areas of support and resistance. Lines with a positive slope that support price action show that net-demand is increasing. As long as the price action stays above this line, we have a bullish trend. Lines with a negative slope that act as resistance to the price action show that net-supply is increasing. As long as the price action stays under this line, we have a bearish trend.
Price usually retests a sloped trend line several times, until it breaks at which point we may have a trend reversal. The more points there are to connect, the stronger a trend line becomes. Different strategies have different rules on how far apart connected price points can be and whether to connect wicks or candle bodies, but all trend lines break eventually. TradingView has a smart drawing tool that allows users to visually identify trend lines on a chart. This tool can also be used to illustrate trends on indicators.
Here we are again at the fractal resistance mentioned in a recent idea. Let's see what happens. If it breaks above this with strong volume, that could be a good sign if you're long, but I see that as unlikely.
This Bitcoin analysis on the 18/12/2018 is going to be as simple as it get's my fellow traders.
This is a weekly chart but if you go to the daily chart we had a push to the upside for the first time in a long time ... BUT "one bullish candle a trend does not make" . We have some nice support around the $ 3000 mark, With major resistance at $ 5850.
Now on the ...
EURUSD 4H Long Bullish Opportunity
TP1: 1.13930
TP2: 1.14270-90
This is not investment advice
Obviously I do not use sl , adjust according to your own account
Hi guys!
Welcome to a brand new and exciting ETH analysis!
Last time, we made some amazing profits and got some pretty good insight into the price action happening in those crazy moves upwards yesterday as it climbed 13%. I hope you can join me in this adventure of charting once again and look towards the $184 target for January.
Have a look at this sprawl of ...
Trading Methodology:
1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based ...
USDJPY is still in consolidation. It just rejected the resistance trendline for the 4th time and is now again at the support trendline. Question is, where can price head to now? If it breaks this consolidation point we can see a bullish move back up into the previous highs at 114.500 or we can see bearish movement back down into the previous lows at 113.000
Trading Methodology:
1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based ...
Nice momentum here. Almost out of fuel so should fall back soon, start of the fall will be start of BTC correction. After correction it may bounce of 2200 (0.618 fibonacci) which is a good bounce point for trending coin. If fall below it won't be interesting anymore.
As you see on day chart it is almost at the top but ...
I don't often trade this cross but this looks like a clean set up.
There are two trendlines and one has been broken. A lot of volume right at price, about to push it higher.
A bit of a bullish flag has formed, too
Long, Tuesday 10:45 A.M. 12-18
Although BTC held the $6000 support for almost of all of 2018, five weeks ago it did eventually fall and saw us tumble down. Many have tried to predict "the bottom" since then, but there is one essential indicator which is heavily respected by the market and something you should include (among other indicators) when making such predictions in your own strategy: ...
EURUSD 4H FED Scenario Short
TP1: 1.13309
TP2: 1.13006
TP3: 1.12653
Critical Level: 1.13662
This is not investment advice
Obviously I do not use sl , adjust according to your own account
Very clear divergence on the 15 minute chart, as well as hidden and normal bearish divergence on the 5m charts. Make sure to look for other indicators to confirm.
From a huge bearish move last Friday ( 14/12/2018 ) to a potential retest of resistance at 1.14200 this week has been nothing but the bulls.
Let's wait and see as this week is far from over as FOMC tomorrow could be a fundamental changer as we continue with the last trading week of the year.
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