candlesticktrader1

candlesticktrader1

A bullish wedge pattern breakout, which coincides with rising trend line support, has confirmed wedge resistance as new support. At the same time, price has also confirmed rising trend line support for the second time. Both seem to point to more upside. I'm looking for a measured move based on the wedge pattern up to about 3.35.

candlesticktrader1

I've been waiting for this day for a while now. BTCUSD has been trading in a tight range around the 31,000 area for some time. It was difficult to get a daily close below 30,000, but once it happened and price retested and confirmed wedge support as new resistance I was all for taking a stab at the opportunity. So far, price has had a steady move to the downside,...

candlesticktrader1

I normally wouldn't trade this instrument, but as I was watching a trading program they had mentioned and shown this chart as a potential sell setup. I decided to pull the chart up and analyze it and before you know it, I was planning my short position. Initially, resistance had been initiated by a shooting star candle on March 7 of this year and then was tested...

candlesticktrader1

Looking at XAUUSD on the Daily, following the previous down move from the May 3 high, price has formed a descending triangle at an established horizontal support level. It has broken to the downside and old triangle support (along with horizontal support) has become new resistance. A bearish engulfing pattern confirmed a short entry and on Friday I was able to...

candlesticktrader1

I was able to get short on another retest of the 31,000 area. My first target has already been hit and stop at breakeven. Now I'm basically waiting to see if we can get a daily close below 30,000. Only then will there be a possibility of more downside on this pair.

candlesticktrader1

This is basically the same setup from the previous NZDUSD position I posted yesterday. That position was taken out at breakeven. I'm now short NZDCHF. Resistance was initiated and then confirmed by a cluster of spinning tops and high waves. Shortly after, I got entry confirmation by way of a Shooting Star that also confirmed resistance. This position is now a...

candlesticktrader1

Here's a simple 4hr sell setup. Initiated resistance was test and confirmed by a shooting star, which served as my sell entry. Looking for a retest of the previous swing low area as my final target.

candlesticktrader1

Friday, before the NY session, BTC had popped up above 31,000 again and I shorted based on the previous bearish engulfing pattern that had been put in a couple days earlier. This is now a "risk free" position and I'm looking to at least test the 25,000 handle, which also coincides with the falling wedge trend lines (not shown on chart).

candlesticktrader1

The markets are open and every opportunity counts. There should be thinner than normal liquidity due to the holiday on Tuesday, but risk/reward is good on this pair. We have a previous support zone that has now been confirmed as a new resistance zone, so I'm looking for a leg down to retest last Thursday's swing low.

candlesticktrader1

The OJ Daily price action has formed a rising wedge and we are at support again. This time around, there is an ascending triangle inside of the wedge that also corresponds with a minor rising trend line. I'm long and looking for wedge resistance as my target.

candlesticktrader1

It seems I had jumped the gun on my first attempt to sell this stock a couple days ago. Today, after what I believed would be a breakout to the upside, ended up being a false breakout. Today's doji has properly tested and confirmed initiated horizontal resistance from March 6 of this year and I've opened another sell position. I'm looking at 104 as my final target.

candlesticktrader1

A test and rejection of initiated resistance is in process on the daily time frame (current chart pic), but has been completed on the 8-hour (my entry chart for this position). I'm only looking for a move down to the most recent swing low, which is about a 3R profit potential.

candlesticktrader1

This is a basic retest/rejection/reconfirmation setup at both horizontal and diagonal resistances. Based on the candle cluster of the previous six trading days (not including today) which reconfirmed resistance, I've entered short just above 125 and am looking for a target at previous support around the 104ish area.

candlesticktrader1

Here's a simple setup with two separate initiated resistance levels that were both confirmed by a shooting star which served as my entry and a second after that. I'm looking to derisk around 1800. For a first target, the 1630 -1600 level is where I'd be interested in locking in some profit. Though, I don't expect a drop below that level, I've placed a hard target...

candlesticktrader1

Still holding horizontal support, Gold has also formed a bullish wedge at the 1935.00 price level along with various reversal candlestick patterns. Seeing as the risk-to-reward probability is very good at this area, I've taken a long position with the first target area being the 1980.00 area....about 1:5RR.

candlesticktrader1

Since June of last year Ethereum has been trading inside of a rising wedge pattern. After rejecting resistance again, price has now broken below a major support level and has confirmed it as new resistance with a shooting star. I've shorted the pair and am looking for wedge support as my target.

candlesticktrader1

Textbook initiation of resistance with a successful retest/rejection by a bearish engulfing pattern. Stop just above pattern and resistance and I'm just looking for a simple 1:2RR down at the most recent low. Let's see how it plays out...

candlesticktrader1

A very simple setup on the 15-minute time frame. A support zone has been initiated and confirmed and I'm long off the most recent 3-bar reversal rejection. Looking for a move to the most recent highs at 1959.00