this update is mostly to please the Ladies who are waiting for their precious metal to rise again.
I have taken the liberty to draw some of the (in my opinion) key-levels on the chart.
Hopefully it helps to understand what is going on right now, far away from the market noises of the lower time-frames.
The Triangles height is still a valid target...
once again a beautiful chart especially for the money makers. I leave the interpretation of the chart to you and hope it is helpful.
Please tell me what you guys think. Legit or crap?
Show some love and keep smiling. Revolution starts within :P
www.dayprotraders.com, www.24elliottwaves.com, www.stochastic-macd.com
From October 2015 until December 2020 Bitcoin has increased over 8000 Percent. Since then the Fibonacci Level of 0.786 along with the 50 MA has proven to be a valuable support bringing the Price back into the range of the December highs.
However, with the close of last month we have broken through important key-levels which should normally hold...
we can see that the trend-line, which should hold for a bullish progression, has been broken and retested on the 3D Chart.
By drawing the 50 % line of the retesting candle and watching it closely, we can spot a retest and turn around, too on the signal tf, the 3H chart. Now, to enter it would be best to wait for a bearish chart-pattern or a lower...
going into the last week of September, it might be good to have a closer look at the price-action of this Quarter to see what the Institutional money is up to. they are aiming to position themselves for the next quarter and possibly for the next years to come and are always cautious not to show what they are up to, therefore looking at the higher...
while trying to figure out the next move, sometimes it is smart to take a step back and see how the instrument has reacted before.
There is a saying in the markets: what has happened before is likely to happen again.
When we analyse the history we can see similarities in time and shape of the corrective pattern. If the breakout occurs it is...
Let us have a closer look at the possible Double bottom pattern for Bitcoin -
How do I know that it could validate a bullish progression, a valid Set up?
The time favors the Bulls. The recent price move forming the double bottom has failed to show lower lows, in fact a slightly higher low has been formed, showing to us that bears are not serious...
The Top-down analyses of different time-frames helps to figure out false signals. The higher the time-frame, the less disturbance. In fact, combining the Quarterly along with the three-day is famous among financial institutions. So for Retail-traders it is good to know what the big guys are up to.
The previous big accumulation zone has been around 3000-5000 USD,...
The Quaterly Chart Set-up can be combined with the Three day chart where we are seeing a triangle break-down as a signal. The three hour or 30 minute would be suitable for an entry, which in this case is the retest of the breakout candles middle line and the turn-around from there. However, one might decide not to take the trade if there is a strong support...
Gold has shown some strength this year, breaking out of the Consolidation\Triangle after it bounced off the 50 MA on the Quarterly Chart.
However, an entry could be not so far ahead, if XAUUSD is in the mood to turn around here -
recently Gold has reached the first respective target, consisting of the halfway-target of the Triangles height. Combined with the...
There are many ways in which an individual can picture the market. In green, in red or orange, in black.
Every perception is unique and has its substantial value, even though the charts will picture something completely different.
It is not about being a bear- or a bull, since the market is always dynamic, thus neutral and neither bullish nor bullish. It has its...
When traders are using the weekly chart for their set-up they are often combining it with multiple time-frames.
In this case 4H time-frame to spot a signal and the 15 minute time-frame to enter the market.
The monthly traders are using the Monthly for the set-up, the daily for their signal and the 10 minute or 5 minute time-frame for the entry.
The Pitchfork-tool is one of a kind. It helps traders not only to determine the possible path the instrument can choose but moreover it can be very helpful in determining Hot-spot trading-zones.
Hot-spot trading-zones are areas where important horizontal- or trend-lines are meeting. A chart-pattern on or near these zones is a high-probability trading...
We can see a Bearish trading set-up on the weekly time-frame. The price has retested a valid resistance level and turned around by breaking the common center line.
This is just a set-up and has to be confirmed on the corresponding time-frames.
Oftentimes the the price will start to retest the powerful 50% line of the weekly candle before turning around. Also...
There are several criteria which have to be fulfilled to speak of a valid Butterfly pattern.
Firstly - XA is a retrace or rally after an up- or downtrend.
Secondly - B should retrace exactly 78.6 of X-A. (-that is in theory)
Furthermore the price-move from B to C is the same for each of the harmonic pattern. B-C should retrace 38.2-88.6 of A-B
Finally the last...
I have posted about dynamic trend-lines before and I recommend you to look into it if you have not yet (in the link below), it is a strong tool which can help us determine the next possible path by using trend-lines of the past price actions on the higher time-frames.
A nice head and shoulder chart-pattern has been formed around it, pointing towards the...
Here are two possible paths Bitcoin could take.
On the monthly chart we see a bearish Harami, usually forming at the end of an uptrend, indicating a possible reversal. However, the smaller the second candle the likelier the reversal.
We have crossed the middle line and are retesting it on the 1D time-frame and are retesting it. A consolidation here would make...
We can see that the candle of the last day has been very long and volatile. Because this is seen as kind of a distortion in the markets, there is a possibility that the price will retest the level of 50 percent or the target consisting of the height of the monthly charts triangle as shown in my last post.
We are using the 1M for the set-up, with the 1D...