THE INVERTED ROOF CHART PATTERN Price begins the climb into the inverted roof and overshoots the top of the pattern (which happens about 15% of the time). The breakout from the inverted roof is downward reaching its target 73% of the time. Price trend can be any direction leading to the pattern. Shape has a horizontal or near horizontal top with a V-shaped...
Based on the previous analysis on LTCUSD which we posted on the 26-05-2019, where we analyzed the possible move and the probability of it reaching a near target of $141 with the use of Andrew's Pitchfork . On the daily time frame, the price of LTCUSD has maintained the support at the lower limit. With three anchor points at 7th of Dec 2018, 8th of Jan 2019 and...
On the daily time frame, BTCUSD has maintained it's move to the down side test a near support at $7618.0 forming a bearish pattern called THE COMPLEX HEAD&SHOULDERS TOP. A complex head-and-shoulders top is a chart pattern that looks like a head-and-shoulders but with multiple heads, multiple shoulders, or sometimes both. The break even failure rate is low and...
The move to the down side still continues as the price of ETHUSD has formed a bearish chart pattern called THE BEAR FLAG PATTERN. Flags appear as small rectangles usually tilted against the prevailing price trend and mounted at the end of a flagpole. If you don't have a straight-line (or a quick move) price run (the flagpole), then you don't have a flag. The...
After moving down to reach the targets given on the previous chart(shown below) : The price of BTCUSD on the 4hours time frame, has formed a pattern callled THE BULLISH GARTLEY CHART PATTERN . The price has hit the B leg, which is always the first target when trading this gartley chart pattern. The following listed below are the steps to follow when trading this...
On the one hour time frame, the price of ETHUSD has been spotted forming a bullish chart pattern called THE HEAD AND SHOULDER BOTTOM. We all know that the head and shoulder bottom chart pattern is a well know and also a reliable chart pattern. The following below are what to look out for when trading this pattern, as thing we have always pointed out on previous...
After hitting the targets based on the previous analysis on BTCUSD () On the 1hours time frame, the price of BTCUSD has been spotted forming a chart pattern called THE BROADENING WEDGE CHART PATTERN. The broadening bottom is one of those chart patterns that appears often, The performance rank approaches the bottom of the list with a high break even failure rate....
The same move as the analysis on ETHUSD, THE RISING WEDGE CHART PATTERN. The Rising Wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. As a reversal pattern, the rising wedge will slope up and with the prevailing trend. Regardless of the type (reversal or continuation), rising wedges are...
THE RISING WEDGE CHART PATTERN. On the daily time frame, the price of ETHUSD has been spotted forming a bearish chart pattern called the RISING WEDGE CHART PATTERN. Rising wedges, especially for downward breakouts, are some of the worst performing chart patterns. Price trend can be any direction leading to the pattern. Shape looks like a narrowing and rising...
On the daily time frame, the price of BTCUSD has been spotted forming bullish pattern called THE BOTTOM HEAD&SHOULDERS CHART PATTERN. Head-and-shoulders bottoms are reliable chart patterns that sport a low failure rate and good average rise. Price trend downward leading to the pattern Shape looks more like a 3-valley pattern with the middle valley below the...
Just as we analyzed on the 28th of May 2019 ( ) about the test of new support which was initially a resistance. Price came back down to that level(with two rejection wicks) and maintained it's stand at that level. BTCUSD price trend is now holding is levels and looking to consolidate more within these levels $8959.64 down to $8220.06. Thes levels are the main ...
Out of the ASCENDING TRIANGLE CHART PATTERN. We have on different analysis explained the out come of the ascending triangle chart pattern. A quick review of the ascending triangle chart pattern. The ascending triangle is a mediocre performer despite its reputation as a reliable chart pattern. Price trend can be any direction leading to the chart pattern. Shape...
On the lower time frame(4hours), the price of BTCUSD has been spotted forming a Descending Broadening Wedge chart pattern. The previous analysis on BTCUSD, we looked at the possibility of the upside targets pegged at $9750 ( ) and more to that is the test of the near support at $8220 () The present look of the chart still stands at the same range(but more...
After the first 2 targets were achieved(based on the previous analysis we shared on BTCUSD) After some mins of looking at the daily time frame chart of BTCUSD, we noticed that the previous target of BTCUSD we posted(link above) are still valid, but the test of near support(retest of the ascending triangle would LIKELY play out as well. On the daily time frame, a...
The move on this PITCH-FORK still holds As we have analyzed in previous charts on how to use this PITCH-FORK, the fact still hold true about the median line(ML the middle white line). Following the basic rules of the PITCH-FORK, going by RULE 1; "There is high probability that price will reach the latest median line". The respect of the support of the PITCH-FORK,...
From the previous analysis published on the 20th of May 2019, where we talked about the possibility of price breaking out of the pennant flag pattern. The bullish pennant flag pattern still hold. On the 4hours time frame, the price of ETHUSD is gradually breaking out of the pennant flag pattern. Leveling up with the volume breakout. The flagpole which leads to the...
Back to that resistance we talked about and the levels we also talked about in out previous analysis Price reversed right at the RED BOX we talked about. Now the current price of BTCUSD is at the resistance again testing it for the third time. Using the ICHIMOKU DOUBLED CLOUD SETTING , KIJUN(red EMA) is still flat and calling for a pull back and price is far...
THE INVERTED HEAD AND SHOULDERS CHART PATTERN On the 2hours time frame, the price of the AUDJPY has been spotted forming a bullish continuation chart pattern which we all call the HEAD AND SHOULDERS BOTTOM or THE INVERTED HEAD AND SHOULDERS CHART PATTERN. A quick review on what to look out for while spotting and trading the pattern. Head-and-shoulders bottoms...