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BTCUSD c&h pattern just got a higher breakout target.With the current $4,000 correction in the bitcoin price that I was anticipating shortly after we achieved the higher high / new all time high, we have now officially started forming a handle to the cup we just completed. I was not anticipating we would go all the way to 57k before the correction however. Because o us reaching 57k first the rimline of the cup now has a slight incline to it which increases the potential breakout price. Had we stayed pretty even with the previous all time high the breakout target would have been around 98-99k. Now the breakout target can be as high as 104k if we don’t breakout before November 10th and even higher of a target the longer we wait to breakout after that. I’ve seen cup and handles trigger with very small handles in the past so This one could even trigger before November 10th. I just arbitrarily selected November 10th as the date to get a rough estimate of what the target could be like. We could breakout sooner than that or later than that. The handle could go much deeper than just 4,000 as well. I personally don’t think we will break below 50k and actually anticipate $51333 or so holding candle body support. We will see soon enough if I am correct. I also think the 1 day 50ma should likely hold support as well. *not financial advice*
COINBASE:BTCUSD
by DrDovetail
1
We could correct here and still have formed a very nice cup.I think we can still reach as high as 64150 and possibly a new ATH even, before any sort of correction. However, if we were to start correcting here instead we would still have a very valid very nice looking cup to start forming the handle on. So I’m gonna go ahead and chart a speculative one here for now. There’s always a chance we don’t correct as well and keep continuing up eventually going to high for the cup to be valid anymore. For now though while we are consolidating a bit it seemed worth charting what a potential cup at this price action could look like. If we do indeed correct here this red handle projection is about as deep as I think it will go assuming the 1 day 50ma(in orange) would hold support. The measured move breakout rom a cup at this level would be around 98k just slightly higher than the 97k target the breakout from the 3 week chart bull flag gives us. Gonna post neutral on this one until I see how this plays out. As of now there’s no guarantee we will even get a cup and handle, but the probability does favor it.
COINBASE:BTCUSD
by DrDovetail
DOGE barkinglooks like it wants to break that resistance trendline starting in May, significant level .2624 is above head and 200sma also on that level, making this crucial point to get above for any chance to get more upside action. Between 200 and 20 is mostly crazy behavior for the price action, bouncing up and down few times before direction is decided. MACD is bullish, but SRSI is high and we could see some pullback. RSI could use a bounce from 50 level, if going further down we have more chance to visit 20sma before try to take over 200sma. If that 50 don't act as support, we could even see a retest of support at .1983. Before this is decided, I recommend only short-term plays with DOGE... Good luck traders
by PhilosophersStone
Algo making another attempt to break the triple bottom necklineNot yet fully confident we will close the current candle above the neckline when looking just to the left we can see we’ve already had a few wicks pierce it but no body closes above the grey neckline just yet. Would not surprise me if the current candle will be the one we finally get a candle body close above the neckline on but will leave this neutral now until I have more confirmation to go by. If it follows Ethereum,’s lead here it likely will close some candle bodies above the neckline sooner rather than later. If it does confirm a breakout it looks like we have a target of around 1.60-1.70 *not financial advice*
COINBASE:ALGOUSD
by DrDovetail
2
We may be potentially breaking above a falling wedge here.I'm not yet fully convinced on the validity of this wedge but it is at least worth paying attention to...if it were a valid wedge then we could see price action potentially bounce back upward to the 48-50k zone. Again I'm not yet convinced how valid this pattern is yet but thought it was worth sharing...it still seems more likely than instead breaking below the h&s neckline(not shown here) at 30k considering the h&s pattern has an impossible measured move breakdown target of like negative 4k. Considering the impossibility of that only gives this wedge pattern better odds of actually validating. Neutral for now until I see more confirmation. Obviously if the impending death cross that's looming ends up occurirng and actually sustaining itself this wedge will be null and void. Let's hope the deathcross is either a fakeout or avoided all together.
COINBASE:BTCUSD
by DrDovetail
An even bigger Symmetrical triangle xrp could break up fromMy idea earlier today was for a much smaller symmetrical triangle that was doubling as a bullish pennant. To reach the full bullish breakout target of that pattern would take us to around $1.80 If we were to go that high we would likely trigger the breakout of this larger symmetrical triangle as well. The point o where we break out of the triangle is still uncertain but if we breakout anywhere near where I placed my dotted yellow line as a rough estimate then we may see $3.00 not too long after we reach the $1.80 target. I expect once we do break up out of the larger symmetrical triangle that price action will likely come back to retest its top trendline as support. Not sure whether that’s ill be before we hit the $1.80 target from my last idea, or afterwards though.
BITSTAMP:XRPUSD
by DrDovetail
Triple bottom on Cardano appears to be triggering; target= $2.79We can see Cardano is confidently above the neckline of the triple bottom now, and barring any crazy unforeseen black swans it should continue it’s bullish impulse tot he triple bottom breakout target around $2.79-$2.80. The next bullish impulse should send price action to that zone, although it may attempt some sort of brief cup and handle formation on the way there. This TA aligns perfectly with Charles Hoskinson’s announcement of Cardano’s smart contract date.
COINBASE:ADAUSDLong
by DrDovetail
1
Xrp poking above top trendline of channel. Target $1.85This will take price to $1.85 but only if price action can solidify the top trendline of this channel as solidified support. As for now I’m not sold on the notion that is support yet. Need to see either a huge volume surge or possibly 1 or 2 weekly candles close above the top trendline to solidify the support first. It looks good but since there’s always a possibility of it dumping back into the channel I will be awaiting more confirmation candles first and leaving this idea neutral even though I am currently leaning more to the bullish outcome. *not financial advice*
KRAKEN:XRPUSD
by DrDovetail
2
We may only just now be breaking above the falling wedge It appears now that the falling wedge I spoke about a couple ideas back may only just now be having priceaction breaking above it. If this is the case it means that the top trendline of the wedge was actually at a slightly less acute angle. Either way in the long run it wouldn't surprise me if we end up reaching the target of the wedge with the more acute top trendline as well as the price target of the wedge shown here with the new top trendline, if this correction is finally over. If this new top trendline is the more valid wedge then the breakout target is around 47k. Should we reach this target that will carry price action reasonably above both the 1 day 50ma and 200ma and could help cause the recent deathcross to end up being more of a bear trap fakeout than a deathcross. We are also inside a channel with the descending green trendline representing the top of the channel and the bottom purple trendline of the wedge also acting as the bottom trendline of the channel. We're we to confirm a breakout from the wedge right here and have a measured move target of 47k,. odds are good we would break out upward from the channel on our way to that 47k target. We can see already that the first candle above the new top trendline on the daily chart has already retested the trendline as support. That is a good sign for the bulls but we won't have confirmation of the breakout in my opinion until we see 3 consecutive 1 day candle closes above the trendline or a huge surge in bullish volume and a big green candle to go with it. whichever happens first. For now there is no confirmation of a breakout here on this new top trendline of the wedge but it is looking promising. Stoch rsi still has a good amount of room to move upward on the 1 day chart as well.
COINBASE:BTCUSD
by DrDovetail
2
EUR/USD multi time frame analysis, Trading Idea #3Purple Zones = Daily SNR Red Zones = 4 H SNR Orange Zones = 1 H SNR Yellow Zones = 5 Min SNR Blue Lines = Opportunity for trade 1.) SHORT TRADE REVERSAL When Candle close bellow Resistance and next candle form as Bearish ( better if it is some Bearish reversal candlesticks like bearish engulfing candle or bearish evening star etc....) open short trade; - Stop Loss above resistance zone - Take profit little bit above next support (or if see that candlestick break next support (new Bearish candlestick open bellow next support zone ) keep open trade to get more profit) - Check Economic calender to be sure that avoid trade on double (15 Min before and after news) and tripple news (30 Min before and after news), and also speak with double and tripple star (2 H before and after speeach) =Check www.forexfactory.com 2.) SHORT TRADE CONTINUATION When Bearish Candle close bellow support zone place Short trade (better if is some strong bearish candle) Open short trade - Stop Loss above resistance zone - Take profit little bit above next support (or if see that candlestick break next support (new Bearish candlestick open bellow next support zone ) keep open trade to get more profit) - Check Economic calender to be sure that avoid trade on double (15 Min before and after news) and tripple news (30 Min before and after news), and also speak with double and tripple star (2 H before and after speeach) =Check www.forexfactory.com 3.) LONG TRADE REVERSAL When Candle close Above Support and next candle form as Bullish ( better if it is some Bullish reversal candlesticks like Bullish engulfing candle or Bullish Morning star etc....) open Long trade; - Stop Loss Bellow Support zone - Take profit little bit Bellow next Resistance (or if see that candlestick break next Resistance (new Bullish candlestick open above next Resistance zone ) keep open trade to get more profit) - Check Economic calender to be sure that avoid trade on double (15 Min before and after news) and tripple news (30 Min before and after news), and also speak with double and tripple star (2 H before and after speeach) =Check www.forexfactory.com 4.) LONG TRADE CONTINUATION When Bullish Candle close above Resistance zone place Long trade (better if is some strong Bullish candle) Open Long trade - Stop Loss Bellow Support zone - Take profit little bit Bellow next Resistance (or if see that candlestick break next Resistance (new Bullish candlestick open Above next Resistance zone ) keep open trade to get more profit) - Check Economic calender to be sure that avoid trade on double (15 Min before and after news) and tripple news (30 Min before and after news), and also speak with double and tripple star (2 H before and after speeach) =Check www.forexfactory.com If this help you with your trading Please Like, Share and Follow that give me motivation to make another Trading Ideas If you have some suggestion, comment or other opinion feel free to write it in comment Wish you succesfull and consistent trading with profits!
by ArmaTrader97
NZD/USD multi time frame analysis, Trading Idea #2Purple Zones = Daily SNR Red Zones = 4 H SNR Orange Zones = 1 H SNR Yellow Zones = 5 Min SNR Blue Lines = Opportunity for trade 1.) SHORT TRADE REVERSAL When Candle close bellow Resistance and next candle form as Bearish( better if it is some Bearish reversal candlesticks like bearish engulfing candle or bearish evening star etc....) open short trade; - Stop Loss above resistance zone - Take profit little bit above next support (or if see that candlestick break next support (new Bearish candlestick open bellow next support zone) keep open trade to get more profit) - Check Economic calender to be sure that avoid trade on double (15 Min before and after news) and tripple news (30 Min before and after news), and also speak with double and tripple star (2 H before and after speeach) =Check www.forexfactory.com 2.) SHORT TRADE CONTINUATION When Bearish Candle close bellow support zone place Short trade (better if is some strong bearish candle) Open short trade - Stop Loss above resistance zone - Take profit little bit above next support (or if see that candlestick break next support (new Bearish candlestick open bellow next support zone) keep open trade to get more profit) - Check Economic calender to be sure that avoid trade on double (15 Min before and after news) and tripple news (30 Min before and after news), and also speak with double and tripple star (2 H before and after speeach) =Check www.forexfactory.com 3.) LONG TRADE REVERSAL When Candle close Above Support and next candle form as Bullish( better if it is some Bullish reversal candlesticks like Bullish engulfing candle or Bullish Morning star etc....) open Long trade; - Stop Loss Bellow Support zone - Take profit little bit Bellow next Resistance (or if see that candlestick break next Resistance (new Bullish candlestick open above next Resistance zone) keep open trade to get more profit) - Check Economic calender to be sure that avoid trade on double (15 Min before and after news) and tripple news (30 Min before and after news), and also speak with double and tripple star (2 H before and after speeach) =Check www.forexfactory.com 4.) LONG TRADE CONTINUATION When Bullish Candle close above Resistance zone place Long trade (better if is some strong Bullish candle) Open Long trade - Stop Loss Bellow Support zone - Take profit little bit Bellow next Resistance (or if see that candlestick break next Resistance (new Bullish candlestick open Above next Resistance zone) keep open trade to get more profit) - Check Economic calender to be sure that avoid trade on double (15 Min before and after news) and tripple news (30 Min before and after news), and also speak with double and tripple star (2 H before and after speeach) =Check www.forexfactory.com If this help you with your trading Please Like, Share and Follow that give me motivation to make another Trading Ideas If you have some suggestion, comment or other opinion feel free to write it in comment Wish you succesfull and consistent trading with profits!
by ArmaTrader97
USD/JPY 1D analysis 01/07/21Hello everyone , as we all know the market action discounts everything :) notice from all the data and the indicators that we saw on the chart the USD/JPY seems to be moving up with no signs of a reversal yet . we could be seeing the price reaching the are 112.30 in the next few days . Fundamental analysis : The Japanese yen turned out to be the worst-performing currency on Wednesday, allowing the USD/JPY pair to snap four consecutive days of the losing streak and climb back above the 111.00 mark. The underlying bullish sentiment in the financial markets – despite worries about the spread of the highly infectious Delta variant of the coronavirus – continued undermining the safe-haven JPY. This, along with a strong pickup in the US dollar demand further contributed to the pair's intraday rally of over 70 pips from levels just below mid-110.00s. In fact, the key USD index posted its biggest monthly rise since November 2016 and remained well supported by the Fed's surprise hawkish shift. It is worth recalling that policymakers brought forward the timetable for the first post-pandemic interest rate hikes and signalled two rate hikes by the end of 2023 at the end of June policy meeting. The already stronger greenback got an additional boost following the release of a stronger ADP report, which, to a larger extent, helped offset a sharp decline in the US Treasury bond yields. The monthly data published by the Automatic Data Processing (ADP) Research Institute on Wednesday revealed that the US private-sector employers added 692K jobs in June. This marked a notable deceleration from May's downwardly revised reading of 886K (978K reported previously) but was better than the market expectations for 600K. This, along with hawkish comments by Dallas Fed President Robert Kaplan, cemented market expectations over the potential for an early move by the US central bank to rein in its highly accommodative monetary policy. In an interview with Bloomberg TV on Wednesday, Kaplan noted that they are seeing a broadening of price pressures and would prefer to taper sooner than the end of the year because of questions about efficacy, side effects. Apart from this, end-of-month/quarter flows acted as a tailwind for the USD and pushed the USD/JPY pair to 15-month tops. That said, upbeat Japanese manufacturing data kept a lid on any further gains for the major and led to consolidative price action, above the 111.00 mark, through the Asian session on Thursday. Japan Tankan Manufacturing Index rose to 14 in Q2, marking the best level since 2018 and the fourth straight quarter of improvement. Adding to this, the Markit Japan PMI Manufacturing was revised higher to 52.4 in June from 51.5 flash reading. Moreover, confidence about the outlook reached the highest level since the series began in July 2012 amid hopes of an end to the pandemic. This, in turn, extended some support to the JPY and capped gains for the major. Make sure to Follow and Like for more content If you have any questions please ask Thank you for reading.
by GabiDahduh