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Bullish Patterns

Recent AUD/NZD Long Trade Using ResistanceI caught a nice trade here yesterday on AUD/NZD. Price had recently broken through resistance, and we saw a strong bullish break out move. As the bullish momentum slowed down, we saw bears come back into power and drove the price back down to resistance. At this pint, we need to look for 2 actions: - Either price will break through the resistance level and the bearish move will continue, most likely down to previous support levels in which you could enter a short trade when the break through is confirmed. OR - We will see a rejection at the trend line where the price is struggling to break through the resistance, and bulls come back into the equation to drive the price upward. This is when you can enter a long trade. After identifying the rejection at the trend line, also in line with the MACD and RVI, I entered a long trade and banked a nice profit before bears came back into power and drove the price down. Support and resistance levels can be used to identify some lovely trade setups, as we have seen with AUD/NZD.
Education
by francesgurton
Inverse Head and Shoulder Pattern using BTCUSDThe head and shoulders chart pattern is a price reversal pattern that helps traders identify when a reversal may be underway after a trend is exhausted. It is of two types: Head & Shoulder and Inverse Head & Shoulder. This reversal could signal an end of an uptrend or downtrend. (Inverse Head & Shoulder with an end to downtrend in this case) Inverse Head & Shoulder: An inverse head & shoulder pattern is comprised of three main components: -After a long bearish trend, the price falls to a trough and subsequently rises to a peak -The price again falls to form a second trough substantially below the initial low and rises again to the same peak -The price falls for the third time but to the level of the first trough only before rising back to the same peak again In this chart pattern there are three trough in which a large trough (the head i.e. the second trough) has a slightly smaller trough on either side of it (right and left shoulder that are the first and third peak), with all of the trough increasing to a same level of resistance i.e. the peak until where all the troughs had risen, called as neckline in the pattern. Once the third trough (right shoulder) moves back to neckline it is likely to breakout to a bullish uptrend indicating a trend reversal hereby, which is the basic explanation of Head and Shoulder. Traders can use Inverse head and shoulder to buy when the breakout is observed i.e. at the neckline after the right shoulder reached there completing the Inverse Head & Shoulder formation. For confirmation traders can use the drop in volume as the Inverse Head & Shoulder is forming and a sudden increase in the volume as breakout is observed suggesting a shift from sellers before the pattern to buyers after the pattern. There are few limitations as well to the Head & Shoulder Pattern: -Sometimes false breakouts might be observed -The time duration for formation of the pattern might be too long -Trough or peak might be pretty far from the neckline resulting in large stop loss distances which might have o reviewed consistently -The price may see pullback after the third peak or trough often confusing few traders ---------------------------------------------------------------------------------------- If you find the post useful, please like and share our ideas with the community! - Mudrex
COINBASE:BTCUSDEducation
by Mudrex
12
How to trade the Bullish Continuation PatternHey hey all!  I went off the grid a little bit to enjoy life and seize the opportunities the COVID situation has presented us all with... the proactive have had the chance, and still do, to create wealth and I can go over many examples in the markets like the sell-off of Stocks, Indices and Commodities (and even Crypto) and then the buyback of all of those assets. The strength of the USD and then the weakness of it... the all-time highs in the NASDAQ which came as a no brainer as the world went 90% digital due to the pandemic but there is so much more and I wont be going over it right now... right now all I want to do is share with you a killer trade setup that I took on the DAX on Friday (7.8.2020) yesterday that is earning me right now over 15,000 in active profits. The Bullish Continuation The bullish continuation pattern is exactly what is says, a bullish continuation of price action, and it is not very hard to find. There are two ways you can trade the bullish continuation, 1. Pre-breakout, which would mean at a support level that lines up with the FIBS I use. 2. The breakout, which is self-explanatory. In the case, I am about to show you I traded it pre-breakout, but before I go over it... here is a snippet from my comment in my community about the trade: Now coming back to the Bullish Continuation, here is a talking picture for you to further understand how this was traded (and still is being traded). The first thing is that the recent momentum was bullish, so we have the first checkbox. The second point is that price is finding support at 61.8%, check here too Is the middle of the DC is below price action? YES! so check again On the 1H chart is the 5/20 EMA below price? Yeap! Check! Ok great... now about the entry, we have 2 options.... Option #1 is entering at the rejection of 61.8% fib (which is taken from the high and the low of the recent move. Option #2 is wait for the breakout That is.... in this case, I decided to go at 61.8% because I realized the NFP (yesterday, Friday 7.8.2020) would support the DAX, and it did at the get-go, I quickly went into a profit of 11,000, but held on and now I'm close to 16,000 in profit... and here's proof! If you want to see that this is a live account just find us on Instagram (PrimedTraders) or join our community with as little as 9$ m/m and you'll see everything there... Questions are very welcome!
DEducation
by PrimedGroup
EW Analysis: NEOUSD Can See A Deeper Corrective DeclineHello traders! Today we will talk about cryptocurrencies, specifically NEO and its price action from Elliott Wave perspective. NEOUSD made an impulsive five-wave cycle from March lows, which suggests a bullish reversal at least in three waves A/1 - B/2 - C/3. Since the beginning of June, seems like NEO is making a three-wave a-b-c correction, where wave "c" is still missing. So, don't be surprised if we see another decline towards projected 8.0 - 6.0 support zone around important 61,8% - 78,6% Fibonacci retracement and this is where a higher degree wave B/2 correction may come to an end, which can be followed by strong and impulsive bounce back to highs for wave C/3. In case if we see something deeper and more complex, invalidation level remains at 4.0! Be humble and trade smart! If you like what we do, then please like and share! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
BINANCE:NEOUSDEducation
by ew-forecast
EW Analysis: Silver Is Pointing Towards 2019 HighsHello traders! Today we will talk about Silver and its price action from Elliott Wave perspective. Metals are in an impulsive rally, especially Gold, but since March, Silver is doing much better if we take a look at the GOLD/SILVER ratio, which is now turning bearish and there's actually room for more weakness after recent corrective slow down. So, it means that Silver may continue to work better than Gold. Silver is in the strong uptrend from the beginning of March and it's ideally unfolding a five-wave cycle back to the 2019 highs, so current slow down can be just a temporary correction in wave 4 before we may see another leg to the upside, probably final 5th wave that can send the price up to 19 area. In the 4-hour chart we are currently tracking a bullish triangle within wave 4 that can be approaching the end soon, so a rise into a 5th wave can be around the corner. Be humble and trade smart! If you like what we do, then please like and share! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
OANDA:XAUXAGEducation
by ew-forecast
EW Analysis: BTC Is Losing Dominance, But Only TemporarilyHello traders and investors! Today we will talk about Bitcoin Dominance and its wave structure from Elliott Wave perspective. We will also show you how it can be useful in analyzing XXX/BTC cross pairs with the help of EW. If we take a look on BTC.D daily chart, we can see a sideways consolidation for almost a year which usually suggests a corrective movement, especially if we see a three-wave w-x-y drop in the first leg »a«. Well, we believe that BTC.D is unfolding a bigger bullish triangle pattern and current decline can be just as part of wave (c)/«c« that can find support very soon, ideally in the projected support zone around 64-63 area. Be humble and trade smart! If you like what we do, then please like and share! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
CRYPTOCAP:BTC.DEducation
by ew-forecast
4
EW Analysis: GBPJPY UpdateHello traders! We want to update GBPJPY chart, which is moving nicely higher as expected and there's more upside potential at least towards 141 level for wave "c", if not even higher as part of wave "iii". Anyway, we are always looking for minimum expectations and seems like GBPJPY can see at least one more leg up to complete a five-wave cycle within wave "c" or "iii". So, currently we are tracking a correction into a wave (iv) that can find support, ideally in the 137-136 support zone and from where we may see another push to the upside for wave (v) into our projected target area. Respect the price action and trade smart! If you like what we do, then please give us a like and share! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Education
by ew-forecast
1
LOG Long Term Trendline SupportWe can see the long term support forming a channel with the overhead support from 20k ATH. We can see how a BIG MOVE IS SETTING UP...ON or before AUGUST 27th 2020. Brian Brooks is having fun making the new crypto dollar everyone is expecting. Your dollars are just digits on a screen...unless a blockchain application creates a new transparent world. Imagine knowing exactly how many dollars there are! Don't worry... Privacy coins still exist... but YOUR AMERICAN EXPRESS CARD tracks you anyways evertime you swipe...lol Just wait until AMERICAN EXPRESS releases the BITCOIN REWARDS CARD! welcome to the roaring 20s... just need to destroy the swamp first... enjoy.
BITSTAMP:BTCUSDEducation
by denniswokeupinanewbitcoin
VIRUS was TREND ANOMALYI made this chart at the end of 2019, It has played out correctly....SHORT OF A VIRUS HAPPENING... After the Election in the USA, we are likely to see the world change. Odd are in the favor of FREEDOM...we'll see... END OF DECEMBER 2020... BTC LONG TERM TRENDLINE will break ABOVE the JUNE 2019 recent HIGH... AFTER THAT... WE SHOULD BREAK THROUGH 20K LIKE BREAKING THROUGH PUDDING. EASY HYPERBOLIC JUMP TO 170K-200K!!!!! THIS WILL CHANGE THE WORLD FOREVER. And all the CRYPTO PROJECTS that are SECRETLY BEING CREATED RIGHT NOW... Will MAGICALLY APPEAR... TO SELL YOU THEIR COINS AT HIGH TICKET PRICES... Obvious STRATEGY... Expect BIG CREDIT CARD COMPANIES TO ALL RELEASE THEIR CRYPTO REWARDS CARDS INSTEAD OF TRAVEL CARDS. Dollars, Mortgages, Interest Rates, Worldwide Commerce, WILL ALL CHANGE. hopefully we build FREEDOM, and not TYRANNY. USE CRYPTOS FOR GOOD, not evil.
BITSTAMP:BTCUSDEducation
by denniswokeupinanewbitcoin
2
Transition to GREATNESS 2/3DJI just like DJT is a good index and canary, showing the situation in general. Lots of small companies will disappear, shops will close, firms go bankrupt, people will go without luxury, but life goes on and only some will grow. Question is, what direction will we go and/or if we gonna be part of it or out of it financially, in the first place! Either way, I got to accept the situation and as always: act accordingly. I'm not into politics, idk if you are a democrat, a conservative or a liberal. More important to stay healthy (and alive) and do something that is one step ahead to a sustainable future. Common sense. So if I had the chance, I would advice to Mr. President to make peace, not war (with China and in general). I would support China, as they will support the US back too 'cause they are just like that. They also are smart and innovative. It's not like the old times anymore, when we said "poor quality because it's Chinese" remember? That's the old times, put it in a history book or something and step forward now. Together. As according to my belief and experience, cooperation feels and works better that hatred, fights and war. Or it's just me?
TVC:DJIEducation
by janfoux
XAUUSD - M Dears, I know most of the traders think about this chart it is a new chart, but as you can see with the attached chart you can see the old one it was 21 July 2019. and we have mentioned the gold from that date it is bullish, and it will not be bearish till touching the resistant, and that time we want to get the confirmation of the bearish with price action. Note: we believe the coronaviruses will start to begin to weaken, and all the markets, economies, and life will working and life gradually returns to normal. take care and be in save.
FX:XAUUSDEducation
by iSaleh
1