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Altsignals

ChainLink - Whats Next?Following the break of the major trendline, we saw a retest of the major trendline, previous structure, 100EMA and the 50% fibonacci which made it a high probability short! We are now approaching a key level where price has the potential to reverse. The key are to look at is the $15 level where we have previous structure. If price bounces continues to correct towards the double bottom area, it will be highly likely that we'll bounce from there. Also keep an eye on the descending trendline and monitor it for a break!
by Altsignals
1
ChainLink - Whats Next?Following the break of the major trendline, we saw a retest of the major trendline, previous structure, 100EMA and the 50% fibonacci which made it a high probability short! We are now approaching a key level where price has the potential to reverse. The key are to look at is the $15 level where we have previous structure. If price bounces continues to correct towards the double bottom area, it will be highly likely that we'll bounce from there. Also keep an eye on the descending trendline and monitor it for a break!
by Altsignals
2
DOGECOIN - Bull Flag Anyone??Following our educational post about flag patterns, we are now seeing a bullflag for Dogecoin. After the breakout of the descending wedge at the end of May, we had a nice impulse and now we are in a correction that looks to be a bull flag. The bull flag support lines up nicely with our previous structure and the 100EMA. Watch for buying pressure at the 0.28 level. Alternatively, watch for a breakout of the flag! Refer back to our educational post on how to trade flags. See linked chart below.
by Altsignals
2
DOGECOIN - Bull Flag Anyone??Following our educational post about flag patterns, we are now seeing a bullflag for Dogecoin. After the breakout of the descending wedge at the end of May, we had a nice impulse and now we are in a correction that looks to be a bull flag. The bull flag support lines up nicely with our previous structure and the 100EMA. Watch for buying pressure at the 0.28 level. Alternatively, watch for a breakout of the flag! Refer back to our educational post on how to trade flags. See linked chart below.
by Altsignals
1
EDUCATION - Identifying & Trading Flag PatternsIn this post, we will be explaining what a flag patterns is and how to identify and trade them. What is a Flag? The flag pattern is the most common continuation patterns in technical analysis. It often occurs after a big impulsive move. The impulse move is followed by short bodied candles countertrend to the impulse move, which is called the flag. It is named because of the way it reminds the viewer of a flag on a flagpole. Often, the breakout of the flag is the same size as the impulse leading to the flag. We can use this to create our take profit levels. There are 2 types of ways we can trade flag patterns; Risky Entry & Safe Entry. See below for the pros and cons for both and how to enter them _______________________________________________________________________________ Risk Entry: The reason why it is called a risk entry is because we haven't got many confirmations apart from the bounce off the fibonacci level. Price may have the potential to go lower for a deeper correction before moving up. Whereas for the safe entry, the confirmation that it is a valid flag would be the break of the flag pattern. How to trade using Risk Entry: Wait for price to bounce off the fibonacci levels (0.5 or 0.618) and then enter with stops below/above the correction. One of the advantages of doing a risk entry is that we can have small stop loss and have a great risk:reward ratio. Also, we can gain an entry at the start of the move and HODL! Safe Entry: Safe entry requires more than one confluence and requires confirmation. We have the rejection of the fibonacci level as well as a breakout of the flag, confirming that it is a valid flag pattern. How to trade using Safe Entry: For a safe entry, enter upon the break of the flag pattern with stops above/below the flag depending on whether its a bull or a bear flag. First TP would be the recent structure level and second TP would be the length of the impulse which led up to the correction. The disadvantage to using a safe entry is that we require a bigger stop loss which makes the risk:reward ratio not as great as the risk entry. However, the probability of the trade succeeding is higher. _______________________________________________________________________________ EXAMPLES OF RISK ENTRY EXAMPLES OF SAFE ENTRY
Education
by Altsignals
6
EDUCATION - Identifying & Trading Flag Patterns In this post, we will be explaining what a flag patterns is and how to identify and trade them. What is a Flag? The flag pattern is the most common continuation patterns in technical analysis. It often occurs after a big impulsive move. The impulse move is followed by short bodied candles countertrend to the impulse move, which is called the flag. It is named because of the way it reminds the viewer of a flag on a flagpole. Often, the breakout of the flag is the same size as the impulse leading to the flag. We can use this to create our take profit levels. There are 2 types of ways we can trade flag patterns; Risky Entry & Safe Entry. See below for the pros and cons for both and how to enter them _______________________________________________________________________________ Risk Entry: The reason why it is called a risk entry is because we haven't got many confirmations apart from the bounce off the fibonacci level. Price may have the potential to go lower for a deeper correction before moving up. Whereas for the safe entry, the confirmation that it is a valid flag would be the break of the flag pattern. How to trade using Risk Entry: Wait for price to bounce off the fibonacci levels (0.5 or 0.618) and then enter with stops below/above the correction. One of the advantages of doing a risk entry is that we can have small stop loss and have a great risk:reward ratio. Also, we can gain an entry at the start of the move and HODL! Safe Entry: Safe entry requires more than one confluence and requires confirmation. We have the rejection of the fibonacci level as well as a breakout of the flag, confirming that it is a valid flag pattern. How to trade using Safe Entry: For a safe entry, enter upon the break of the flag pattern with stops above/below the flag depending on whether its a bull or a bear flag. First TP would be the recent structure level and second TP would be the length of the impulse which led up to the correction. The disadvantage to using a safe entry is that we require a bigger stop loss which makes the risk:reward ratio not as great as the risk entry. However, the probability of the trade succeeding is higher. _______________________________________________________________________________ EXAMPLES OF RISK ENTRY EXAMPLES OF SAFE ENTRY
Education
by Altsignals
48
AKROUSDT - Break & Retest Heaven!The last time we analysed AKRO was on the 5th of May where we had a Short set up which played out perfectly. We are not at the lows and looking for entry reasons to buy. We have a descending trendline which we are monitoring closely for a break. If we fail to break the descending trendline, we could go down to make a double bottom. The important level to note is the 0.035 level where we have our structure point. Once we pass that point, it could be a full blown bull run to all time highs! Akro has had numerous break and retests in the past so it's possible we may see a break and retest once we break the descending trendline and again when we pass the 0.035 level. Keep a close eye for breaks and retests!
by Altsignals
AKROUSDT - Break & Retest Heaven!The last time we analysed AKRO was on the 5th of May where we had a Short set up which played out perfectly. We are not at the lows and looking for entry reasons to buy. We have a descending trendline which we are monitoring closely for a break. If we fail to break the descending trendline, we could go down to make a double bottom. The important level to note is the 0.035 level where we have our structure point. Once we pass that point, it could be a full blown bull run to all time highs! Akro has had numerous break and retests in the past so it's possible we may see a break and retest once we break the descending trendline and again when we pass the 0.035 level. Keep a close eye for breaks and retests!
by Altsignals
6
FANTOM - Decision Time - FTMUSDTFantom recently tested the 78.6 fibonacci level and previous structure that we had marked out since April. As price has created higher lows, we could potentially be on the verge of a breakout. One thing to note is that price looks very corrective moving up so we could see price come back down to create a double bottom before moving up. If the ascending trendline breaks, watch for price to create a double bottom. However, if price breaks the 0.400 level, we may see a bullish reversal and we can enter on a retest or a bull flag. TP would be previous highs!
by Altsignals
FANTOM - Decision Time - FTMUSDTFantom recently tested the 78.6 fibonacci level and previous structure that we had marked out since April. As price has created higher lows, we could potentially be on the verge of a breakout. One thing to note is that price looks very corrective moving up so we could see price come back down to create a double bottom before moving up. If the ascending trendline breaks, watch for price to create a double bottom. However, if price breaks the 0.400 level, we may see a bullish reversal and we can enter on a retest or a bull flag. TP would be previous highs!
by Altsignals
1