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Bullflags

Gold Clearly brokeout of a bull flag.After Gold broke out of a Bullish Flag there was a back test of the downward sloping trendline that acted as resistance until now turned into support resulting in another bullish flag breaking out on a smaller time frame. I'll link a chart on a smaller time frame displaying another bull flag. Keep in mind everyone, anything under approximately 1800 USD is fair game for massive rejection & continuing a lower high trajectory on a Macro scale. I'm not sure if people understand this, some say Gold is a store of value & I agree, kinda.... It depends on what you consider a "store of value." Because technically, since Aug 2011 Gold has been in a bear trend, and it appears as though it could very easily make a double top, unless Gold creates a new all time high with the more recent bullish activity. Gold went as high as $2,172.26 USD in January of 1980, and dropped nearly 75% afterwards & went into a 21 YEAR BEAR MARKET. Nice STORE OF VALUE! Bitcoin on the other hand has much faster boom & bust cycles. Gold went from $678 USD in Feb 1934 to $236 by Dec 1970, over a 50% decline & a 36 year bear market until the price recovered increasing 10x in 10 years from 1970 to 1980's. I wouldn't be surprised if Bitcoin retested it's 2017 ATH before Gold retests its January 1980 ATH! Bitcoin has provided greater returns since 2015 than owning an ounce of Gold at spot price since 1975, even after Bitcoin has fallen from recent All Time Highs. This trend will continue, Bitcoin & crypto related assets can be part of your portfolio, even if its only 5%
TVC:GOLDLong
by ScotianBot
9
Is Bitcoin trading in a Bul Flag?Or potentially a descending triangle, Bitcoin is being met with resistance that I have colored blue which is a downward sloping trendline since the blow off top of late 2017, and the other blue line is strong support dating back to 2017 & more recently it's acted as a Micro bottom multiple times. Bitcoin is still trading above the 200 Day MA & with the halving approaching it's very possible this plays out bullishly, only time will tell. One thing to keep in mind is that Bitcoin wasn't nearly as liquid for the previous halvings, now with the CME futures & Bakkt etc etc now in play it's important to be aware of a potential sell off. Hyperinflation is real, and it can happen to the United States & Canada, if you think otherwise you are gullible & don't know your history. Bitcoin, Ethereum & decentralized p2p electronic transfer of value is not only the future, it's the present answer to such a scenario. Along with some other traditional assets like gold & silver. Zimbabwe,Turkey, Iran & Venezuela have all been experiencing Hyperinflation recently. Do you know the last time Zimbabwe had a Hyperinflationary period? March 2007 - November 2008, History repeats itself. This is the same time the most recent financial crisis took place, resulting in Bitcoins whitepaper being released by Satoshi Nakamoto. A major historical precursor of hyperinflation is war that destroys the capital stock of an economy and dramatically reduces output, but the misplaced monetary and fiscal policies that ensue are almost always part of the story. Even some of the largest economies in the world today; China, Germany, and France have suffered devastating hyperinflationary episodes. Hyperinflationary episodes have appeared several times over the past century, around 60 times to be more exact, as the world's nations have experimented with fiat currencies backed by the full faith and credit of the governments that issue them. At times, that full faith and credit has been misplaced and holders of unstable currencies have been caught empty-handed in countries all over the world. In regards to Gold, I'm not sure if people understand this, some say Gold is a store of value & I agree, kinda.... It depends on what you consider a "store of value." Because technically, since Aug 2011 Gold has been in a bear trend, and it appears as though its made a double top, unless Gold creates a new all time high with the more recent bullish activity. Gold went as high as $2,172.26 USD in January of 1980, and dropped nearly 75% afterwards & went into a 21 YEAR BEAR MARKET. Nice STORE OF VALUE! Bitcoin on the other hand has much faster boom & bust cycles. Gold went from $678 USD in Feb 1934 to $236 by Dec 1970, over a 50% decline & a 36 year bear market until the price recovered increasing 10x in 10 years from 1970 to 1980's. I wouldn't be surprised if Bitcoin retested it's 2017 ATH before Gold retests its January 1980 ATH! Bitcoin has provided greater returns since 2015 than owning an ounce of Gold at spot price since 1975, even after Bitcoin has fallen from recent All Time Highs. This trend will continue, Bitcoin & crypto related assets can be part of your portfolio, even if its only 5%. Gold is the yellow line.
COINBASE:BTCUSDLong
by ScotianBot
1
Is CRSP trading in a descending triangle or bull flag?Key Takeaways A descending triangle is a signal for traders to take a short position to accelerate a breakdown. A descending triangle is detectable by drawing trend lines for the highs and lows on a chart. A descending triangle is the counterpart of an ascending triangle, which is another trend line based chart pattern used by technical analysts. Bullish flag formations are found in stocks with strong uptrends. They are called bull flags because the pattern resembles a flag on a pole. The pole is the result of a vertical rise in a stock and the flag results from a period of consolidation. The flag can be a horizontal rectangle, but is also often angled down away from the prevailing trend. Another variant is called a bullish pennant, in which the consolidation takes the form of a symmetrical triangle. The shape of the flag is not as important as the underlying psychology behind the pattern. Basically, despite a strong vertical rally, the stock refuses to drop appreciably, as bulls snap up any shares they can get. The breakout from a flag often results in a powerful move higher, measuring the length of the prior flag pole. It is important to note that these patterns work the same in reverse and are known as bear flags and pennants. EOM.
NASDAQ:CRSPLong
by ScotianBot
BITCOIN - 20k IS COMING - NO PANIC! TAKE IS EASY! POSITION!!! Decision Time for BITCOIN! Did you check in on the crypto market this week? If you had not, well then, you may be in for a surprise...in a good way, of course. Bitcoin was back above $10K for the first time since October 2019. More importantly, it is also back over the 200-day MA. That’s notable because, as Tom Lee of Fundstrat put it earlier this week, anytime BTC has broken the 200-day MA, it’s gone on to record an average 197% gain over six months. We’re up over 40% since the start of the year, meaning if there is anything like a 197% gain on the cards, we ain’t seen nothin’ yet. Of course, it’s impossible to deny the connection between Bitcoin’s strength and that of traditional markets like the Dow Jones and Nasdaq. The stellar performance of those markets seems to be adding fuel to the fire in crypto, but what’s really going on behind these strong markets during a time of turbulence? Markets Are Rallying on Turbulence Western markets, particularly those in the US, are experiencing strong rallies since the Coronavirus made itself truly known in China. One would expect the opposite effect — that disruptions to the usual flow of capital, so tied in with China, would fuel major problems for globalized businesses worldwide. That’s true, but it is only a fraction of the picture. Many see this moment as a turning point in the global balance of supply chain logistics. As businesses have to rely so strongly on China for nearly every step in the supply chain, the disruption caused by the current pandemic has shown businesses the dangers of keeping all their eggs in one basket. It’s prompted many businesses to consider — and put into practice — moving jobs back to the businesses’ country of origin. However, the initial euphoria being experienced in markets may give way at any moment to the true economic reality being painted by the pandemic and effective closure of China, the world’s #2 GDP economy. Bulls may be pushing markets higher now knowing full well that a China-led global recession may be in the cards. Be that as it may, Bitcoin is tagging along for the fun. Bitcoin — An Asset for Turbulent Times? This leads us back to the million-dollar question. Is BTC a safe-haven asset? We view the current scenario as one testing the mettle of that belief. Should Bitcoin continue prospering even as global pandemonium increases, then we’ll have to side with yes as an answer. Again, BTC hasn’t had to face a true recession or widespread market downturn on the order of the dot-com crash in 2000. So, as the volume on havoc turns up, keep watching to see how Bitcoin reacts, especially with the halving at hand and the reality of digital gold coming closer to hand. --------------- Did you think we were gone? Today, there is the State Of Fear how can we "SEE". The Fear and uncertainty in the markets. However, this is typically seen with declining. How is fear seen?. My frailty as a human has shown itself a sign of it eat them like cancer. Often times you will encounter people who will cause you to doubt your own development. This can be due to seeing their false image stunts or ridiculous drivel about trading methods. See that you mind your own business always. Life has an uncanny ability to present distractions. Even when you didn't ask for their opinion. Why would someone who doesn't know what you are learning to be concerned with your development, to begin with? Keep the focus on your task... improving from where you were yesterday. You see the proof... you witness the evidence. Give no time to fools. Energy and time wasted on the unlearned who stay in doubt or envy is a terrible drain on your productivity as a student. I don't care who they are or what they say... I remain... and so shall you. Patience is the greatest virtue needed to be a successful trader! It is easy to interpret the charts. But very difficult to understand the human mind. Are we here at seeing a world different from everyone else? What is the right way? Looking for relevant timeframes, with patience and planning, NO DESPERATION. If you want to win in this market, you need to be COLD and CALCULIST! I am not Bearish long term. I am a Bull of Bulls. To the Moon is too close, go BEYOND! I am anti-establishment! Long Bitcoin, Short the Bankers! Nothing is hard as long as the determination is there. I see you in 20k We go together Together we are stronger Share and like God bless you! ---------------- >> HALVING Stats << Stock/flow 1d/365d: 27 / 25 Stock/flow price 1d/365d: $9.683 / $8.310 Actual price: $9.594 Mined BTC: 18.227.738 Mayer multiple: 1,08 Days to halving: 79 Pow law osc: -0,05 Dormant BTC >10y: 1.192.898
BYBIT:BTCUSD.PLong
by ferGOD
9
Is Hive trading in a Bull Flag?Possibly a descending triangle as well, but the RSI is fairly low on a 1 Month chart which indicates there's room for appreciation before becoming overbought. One thing I find very interesting is the fact that Hive has traded 321,456,046 shares in the past month, keep in mind Hive only has roughly 327M shares outstanding, huge volume surpassing the 2017 parabolic rise but the share price didn't increase 1/5 as the previous Bull Run. On a positive note Hive is gaining back its correlation to Ethereum, technically during the past month Hive has outperformed ETH which is interesting. ETH is the Grey line & Bitcoin is the yellow.
TSXV:HIVELong
by ScotianBot
2
DOMINOs PIZZA 1W BLUG FLAG LONG TRADEBull Flags are repeatable Range trading chart patterns. Bull Flag chart pattern will have a directional bias depending on the previous incoming trend. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart). Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place. Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement. When you see descending Volume bars and descending ATR line (which indicates volatility) this shows a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern. Trade Management after there is a breakout candle close. 1 - Position size (compare volume bar to volume ma line). a - Breakout candle must be 100% of average volume for a full position size. b - If 75% of average volume then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) 2 - Enter two trades. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP will be 1 x ATR. 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price. 6 - When 1st TP hit – move 2nd trade SL to breakeven. 7 - Adjust the 2nd trade SL to follow price. *8 – After Breakout candle – if price closes back into chart pattern close trade *9 - When breakout candle is more than 1 ATR from breakout candle open. a - Enter 1st trade at candle close with ½ position size. b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open. c – Price should pullback to that pending limit order for 2nd trade. d – If Price returns back into chart pattern close trade before SL is hit.
NYSE:DPZLong
by Tradingstrategyguides
Higher highs? BULLTRAP? Golden crosses!Hey there, so this is a pretty important post right here. Leave a like, commend and share this post! Also follow me, if you don't want to miss out! As many of you migh already know, we had the cross (golden cross) of the 200 and 50 MA on the daily chart coming and it happened today. More or less surprisingly, we saw the price ralley strongly to the upside. We are now again above 10K and are getting a bit overbought on the smaller timeframes, but nothing too scary. The golden crosses of the 50/200 and 100/200 have been very bullish signals for Bitcoins price in the past, and could play an important role in the future. Price rallyed significantly from these golden crosses. These signals are though of even more important value, if both moving averages are heading into the same direction (up or down) while they are crossing. Only then is a true bullish signal given, imo. The bull flags on the daily also where very nice buying areas and still seem to be. There is though still the posibilty for this second ralley over 10K to be a bulltrap and to trap all the bulls, thinking Bitcoin is going to 12K. A breach above the last high and a further sharp 10% drop could signals a bulltrap and would be a concerning factor to me. So keep your eyes and minds open! Definitely follow me on social media and especially my YouTube channel: YT: Enlightened Trading Instagram: enlightened_trading_ Cheers, Konrad
BITSTAMP:BTCUSDLong
by EnlightenedTrading
Descending Triangle.This is the "exact" same chart from the other day but on a 6 month line chart; which only shows the daily "closing price" as opposed to the 1 year time frame candle chart I posted on Feb 6th which shows more trades. Notice where the rejection point came into play on Canopy's parabolic price move on Friday? The downward sloping trendline of the descending triangle seems to be in play, and the sell volume seems incredibly bearish. Every time Canopy's RSI gets this high we see a dump in the share price as well. The neckline area of the Inverse Head & Shoulders pattern which called the temporary bottom seems to be holding as support for the time being, interesting.
TSX:WEED
by ScotianBot
Bull Flag Or Descending Triangle?This is the same chart i posted on Feb 3rd but this Hollow Candles instead of a Line Chart. $TNY has displayed strong support 4 times during this consolidation period after the bullish move on Jan 14th, and the chart has also displayed moderately strong resistance creating the downward sloping trend line forming a descend triangle, or is it a bullish flag? Only time will tell I suppose. Keep in mind the more times a resistance or support level is tested the more likely it's going to result in break in either direction.
CSE:TNYLong
by ScotianBot
BTC - Healthy consolidation! Daily higher low found?Hey there, So Bitcoin has been consolidating in the last few weeks and days and is currently holding its gains. In my latest post I expected Bitcoin to find a daily higher low in the near future at around 9000USD. Therefore it is of no surprise, that we bounced off of low 9000 and are now about to retest resistence. Also we have a bull flag on the 4h and 12h chart and you could make the case for a falling wedge on the daily. Bears didn't see follow through as support was broken regularly and got often bought up. There is a reasonable chance that we now have found a daily higher low, although I cannot be too sure yet. We recently had a 9 on ETH on the TI Indicator daily, but did not break too far and could be going into a double 9. The weekly timeframe is at a 5, so we still have plently of room to the upside. Targets are marked with white horizontal lines where resistance is likely to be seen in the future. Bulls still maintain controll and keep the trend strong. Maybe this really is the ralley into the halving with a "sell the news" event in May 2020. Check out my YouTube channel: Enlightened Trading on which I regularly post videos on crypto and the stock market. Also follow me on Instagram and Twitter at enlightened_trading_ Cheers, Konrad
BITSTAMP:BTCUSDLong
by EnlightenedTrading