I have expanded the chart for a micro view of BCH on the 4-Hr timeframe. You can see the rounded bottom failed; broke thru and fell: Bearish.
A Primary trendline (Orange Dotted Trendline) has formed with 3-data points: Bearish
Below the Primary Trendline is a green uptrend line; commonly called a Pennant formation, wedge, or flag, depending on who is analyzing ...
Place Stop Loss just below breakout price and once the first target is hit move the Stop Loss just below it. Targets are set at support/resistance levels rather than by measuring the distance between the high and low of the pattern and longing the distance from the breakout.
Retail trader data shows 84.9% of traders are net-long with the ratio of traders long to short at 5.61 to 1. The number of traders net-long is 4.4% lower than yesterday and 2.4% higher from last week, while the number of traders net-short is 45.3% higher than yesterday and 57.1% higher from last week.
I typically take a contrarian view to crowd sentiment, and the ...
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Back to chart:
We started 2018 with a Head & Shoulders, and ever since that fateful event, it has been one hell of ...
Patience is indeed a virtue when the correction is extended like this, but then again, why should it not be extended after a 200% hike in price in less than a week timeframe. Is there a turnaround?
A bull flag appears to have formed on the 1Day chart, confirmation is above $150 and $240 target is the length of the pole. However the 50 Day EMA (Orange) will offer ...
BCHUSD 15M WILLIAMS %R INDICATOR STRATEGY
My 15m scalping technique - 14 length
Our team at Trading Strategy Guides believes that a momentum indicator strategy can reduce risk and enhance your overall returns.
One of the core market principles is that momentum precedes price so in this sense a momentum indicator strategy is more like a trend following ...
Included link to a CCI30 chart analysis. As you can see, we just a very nice ABC pattern and touching 2015 support trend line. Don;t be surprise we will have rallies up now. We might have some ABC patterns now, but overall the price will be less volatile and will eventually will get out of the channel, that is when everyone will pile in, and we will repeat the ...
Here are examples of how I personally use the EFC Indicator signals.
When not to trade - Price & Macd flat, Macd close to 0 level, middle price range
When to trade - RSI divergence, Macd over-extended, price far from ma's
BCH/USD chart is confined to Big falling wedge pattern.
Now BCH/USD broke away small triangle pattern.
But there are many resistance levels above this price... T.T
But, below this price, there are many support levels made by convergence in small triangle pattern.
It was very long period. And it is nearest trading prices.
So, With this many strong support ...
We have a bullish H&S pattern for this pair. Base on Elliot wave, it looks like a 2th wave of impulse which is already retraced 38.2% of wave one. If the neckline of H&S( yellow line) breaks we expect to have a bullish trend to the 147.00 level which is about 61.8% retracement.
We have a triangle consolidation and the way it looks, it can break in either direction. A breakout above $170 will create an upward spike to the 1st Target@$200 (50 Day EMA resistance). Similarly a breakout below $150 will confirm a further correction to $130 (0.618 Fib Support) or lower
Interestingly, you can take both long / short trades at the same time now ...