Episode577 NZDJPY - Resistance Level 82.16 is an important level of NZDJPY on the daily chart; that's the support level of the Bullish Flag setup.
While some traders are non-believer of the Flag Pattern, 82.88 provide a good level for the trend traders to head in for a shorting opportunity in advance of the move.
Bullish Flag
✨Golem GLM - On fire! +2000% | Bullish flag + Huge breakout!
Golem is on fire! You really want to buy Golem right now because the bullish flag is breaking out and an ascending triangle on the GLMBTC pair also!
How can you not love the name of the coin? But you definitely will with the massive profits!
As per my Elliott Wave analysis, we are prepared for the third impulse wave to the upside. The third wave is usually the strongest, so you don't want to miss it.
The ABC correction has been completed, and we are forming a bullish flag pattern that is currently breaking out. You often find ZigZags corrections in bullish flags.
1:1 FIB extension is the next profit target (wave 3).
Look at my idea about the GLMBTC pair in the related section down below.
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Ripple XRP - Bull trap! Don't fall for this pump, important!
This pump on XRP is a bull trap to wipe out short traders before we continue lower to 0.1-0.2 USDT. Of course, you can trade XRP on the 1h chart and profit from this pump, but this analysis is on the 3D chart.
There is still room to go to the upside, so for short-term traders it's definitely an opportunity, but it's very dangerous in my opinion because this correction might already be complete.
The Bears have a fantastic opportunity to enter a short position at the top of the parallel channel + the POC of the previous symmetrical triangle. It is a common thing to re-test the symmetrical triangle at the apex point.
The trend is still very bearish on the higher timeframes, so this is just a temporary uptrend, which I would never long, because the trend is your friend. I don't know, maybe it is.
XRP has been in a bear market since 2017. It has been 5 years and we didn't even hit a new all-time high during the 2020–2021 bull market.
We have strong support at 0.1 USDT, where we can also take stop losses below this swing low before continuing higher.
As per my Elliott Wave analysis, this whole structure is totally incomplete and I am missing an impulse wave dawnward.
But after all, I think XRP will experience a massive bull market, maybe in 2023-2025, to new all-time highs because it looks very solid on the monthly scale.
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High probability of seeing higher pricesI've entered long lately. Reasons:
Technically the trendchannel/flag has been broken to the upside. Trendcontinuation is very likely.
According to seasonality (10 years or longer) the price will peak in mid Octoboer/November (depends on the time period).
As problems in the supply chain, inflation etc. doesn't get solved quickly it increases only the price increase.
DOGE - Brutal sleeping giant! Huge falling wedge
The doges are still sleeping and we need more time to start a new uptrend, much more time than I expected previously due to fundamental changes in global economy.
I belieave we will have a very nice rally after we finish this falling wedge on the daily / weekly timeframe! But for now, the bears are still powerful.
The falling wedge is really beautiful, I like it! Unfortunately we have only 2 touches on the downward trendline and that's not enough in my opinion.
According to my Elliott Wave analysis, we need to complete this impulse wave with another impulse to the downside because this structure is incomplete and I don't really see it as an ABC correction.
We don't know where the fifth wave is going to end, I think we can touch the downward trendline 2x more times with a divergence on the daily chart.
I think DOGE is a great altcoin and definitely will have a place on the ladder of coinmarketcap, because it's a very popular coin and people like it. Elon Musk is also a fan.
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LMT: Firing all the way up?Lockheed Martin Corporation
Shortterm - We look to Buy at 423.15 (stop at 403.98)
Price action looks to be forming a bullish flag/pennant. This is positive for sentiment and the uptrend has potential to return. There is scope for mild selling at the open but losses should be limited. Further upside is expected although we prefer to buy into dips close to the 423.00 level. The bias is to break to the upside.
Our profit targets will be 479.96 and 500.00
Resistance: 445.00 / 480.00 / 550.00
Support: 408.00 / 370..00 / 260.00
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$COMP $COMPBTC #COMPBTC #COMPUSDT Bull Flag in Progress Here?I'm eyeing both the BTC & USDT pairing of COMP (Compound), which, although a little different, seem to be telling a similar story. COMPBTC in particular has my attention because the price has finally made it's way over the 200 MA on the day chart, which is huge. All the MA's are curling up nicely under the price, and it's making me think we've got just a few more days of consolidation (within a bull flag) before making a move up, possibly coming back and touching it, and then moving up higher.
I think the USDT pairing will likely take off when the BTC pairing does, and probably spend the next few days consolidating as well, as the 100 day MA is crossing nicely upward with some other smaller time frame MA's on that chart.
My target is appx 240, which represent some major price levels that can be seen on the month charts.
Dollar index DXY - Everything collapses because of this!
Except for DXY, everything is falling apart because everyone is selling their assets and buying dollars instead as a safe haven! Traders usually also need USD to open short positions on futures and speculate on price decreases.
The dollar index is incredibly strong and this trend should continue for another few years. According to my analysis and to this chart, 2025 seems like a reasonable year for a trend reversal of this ticker.
Keep in mind that this is the monthly chart for DXY and the price is printing a massive parallel channel on the linear scale and also on the log scale as well.
As per my Elliott Wave analysis, we are currently in the strongest third wave and I expect to touch the upper trendline of the parallel channel before we can experience a corrective fourth wave. After that, the 5th wave will come into play, and we can definitely throw over the parallel channel and find resistance at the previous swing high from 2001.
The DXY is a great indicator for traders and everyone should keep an eye on it. Interest rates are going up, and this is a negative indicator for the stock market.
Look at my ideas about Gold and Bitcoin in the related section down below.
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USDCHF in a Bull Flag formation.USDCHF - Intraday - We look to Buy a break of 0.9635 (stop at 0.9609)
Price action is forming a bullish flag which has a bias to break to the upside.
Short term momentum is bullish.
The bias is to break to the upside.
A break of yesterdays high would confirm bullish momentum.
Our profit targets will be 0.9696 and 0.9706
Resistance: 0.9630 / 0.9650 / 0.9670
Support: 0.9600 / 0.9580 / 0.9560
$SOND extremely bullish setup. PT's are labelled based on chart patterns.
- MMU (measured move up/ ABC)
- Bull flag breakout imminent and the PT breaks the neckline of the inverse head and shoulders.
- A break of the neckline of the inverse H&S gives us the PT based on Thomas Bulkowski's statistical work.
It is also important to note that the MACD crossed to the upside on the daily and the RSI is still not oversold. No bearish divergences in the momentum indicators. THIS IS EXTREMELY BULLISH.
Stellar XLM - Huge dump is incoming! Falling wedge + triangle
On the daily/3D chart, we have a pretty strong bearish downtrend. We just hit a brand new low a few days ago, so it's really not looking good at all.
We can spot a triple bottom, which is usually a sign of a descending triangle pattern or a rectangle continuation pattern. There is a lot of liquidity below this level and the market usually comes for the stop losses.
The chart is printing a falling wedge and a local descending triangle. Both of them have a bearish bias until we break these patterns.
We deeply need to go down for the final fifth impulse wave to complete this ABC correction. Because otherwise, if we pump now, then this structure was an impulse and it's going to be a dead cat bounce rally, followed by another bear market below 0.026 USDT.
XLM is a great coin and I believe we will have a massive pump in 2023-2024, but for now it's still bearish and we need more confirmation to buy this altcoin.
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bullish flag can make another leg up for ETC#ETC/USDT
$ETC had more than 140% increase since my analysis from 6/12/2022 and broke out from descending trend line.
🐮 now price shaped a bullish flag pattern and we just need a confirmation of the weekly candle to close above the channel.
so if we have this confirmation price can increase toward 1.618 fib level of last swing high (which is between upper trend lines) to complete flag Pattern and also it can be AB=CD pattern that can be complete.
ETH/USDT : S/R zones are important! BINANCE:ETHUSDTPERP BINANCE:ETHUSDT
Hello everyone 😃
Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it!
$ETH has formed, Also it has broken above the resistance zone ($1680 - $1700) Which has become an S/R zone now.
The momentum is locally bullish, But $ETH has lost it'ss strength and besides that, $BTC's Dominance is increasing!
However, the Bullish flag is a bullish pattern as it's clear just like what it's called.
So, If we get the break above the flag, Then We might see another to the $1818's S/R line.
But, there can be also a bear trap below the flag to the lower S/R zone to gather more liquidity to hunt!
If $ETH loses the support at $1680, Then the deviation below $1640 is likely to happen and in any case of pullback, We'll take Long towards $1760 and $1818 again.
The deviation scenario will be valid till $ETH breaks below the lower S/R zone ($1555 - $1570), In that case; I'll start to trade in range bounds again.
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Attention: this isn't financial advice we are just trying to help people with their vision.
Have a good day!
@Helical_Trades
✅Bitcoin - You haven't seen this before! New triangle + wedge
Everyone is extremely bullish right now and is saying the bottom is in. But I am still very sceptical. We are having a relief uptrend as predicted in my last analysis.
The downtrend is really strong and there is absolutely no sign of a trend reversal at this moment!
As you can see on the weekly chart, we have an incomplete falling wedge pattern and clearly there is still a lot of price action missing.
It looks like we are creating a trading range on the daily chart. Something like a symmetrical or descending triangle.
Regarding my Elliott Wave analysis, I think we can create some kind of triangular formation before continuing lower.
The question is, how much lower can we go? We have a gap at 12 500 USDT, which is a reasonable target and the one and only one support on this particular chart. We can use a fibonacci extension from wave 3 to wave 4, but it's still too early because we don't know if wave 4 was completed or not.
If the trading range is confirmed, then altcoins can moon during this phase and Bitcoin's dominance should continue in the downtrend.
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LUNA Classic next entry level! Here's a quick Look at LUNC 30 min chart.
The best entry would be when the price breaks above 0.000451$ with a good amount of volume.
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The idea is: Buy when the price breaks above 0.000451$ and take profits at the levels shown in the chart.
Targets:
1. 0.000465$
2. 0.00048$
3. 0.0005$
4. 0.00052$
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What are triangles when it comes to trading?
Key points:
"1. In technical analysis , a triangle is a continuation pattern on a chart that forms a triangle-like shape.
2. Triangles are similar to wedges and pennants and can be either a continuation pattern if validated or a powerful reversal pattern, in the event of failure.
3. three potential triangle variations can develop as price action carves out a holding pattern, namely ascending, descending, and symmetrical triangles."
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BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!
POLKADOT PERSONAL ANALYSIS IN THE SHORT TERM (RE-SHORT RETEST!)The total evaluation for the POLKADOT asset is completely bearish. Please be warned of your risks and make sure to manage it properly. I see the same confirmation candles as well in the daily for a potential reversal to the upside, take your profits always and remember to short at great levels of volume congestion for a bigger edge. A retest on the support we failed to hold will most likely be a proper target with a potential to make mega dumps even further.
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Thank you for reading! Remind you that this is a 1H chart since the movement is more clean rather than 4H chart and 1D chart which are mostly jumbles. The 1H chart even explained how we broke through an important resistance from the bottom forming a bullish flag. Like this chart? Share it, bookmark it, save it -- its yours, for free!