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Butterfly

Bitcoin Butterfly HuntingBitcoin appears to be gearing up for its next leg to the upside but there are short term bearish things happening right now that should be on ones radar first. For one, we are breaking below our upward sloping price channel AGAIN and although it is not yet confirmed on the 4 hour timeframe yet, the fact that Bitcoin has failed after 11 four hour candle attempts to break and hold the $48900 level suggests that a retest of lower levels could be in store soon if a local higher high is not put in soon. A level according to what we see with our own eyes on the chart is a very strong level of resistance. And now we find ourselves again getting rejected at it which gives one the feeling that market makers could be looking to send the price back to our 50% retracement area of support in my personal opinion. Another key indicator to validate this opinion I have is in the fact that price action has begun confirming a 78.6% retracement of X to A on the chart which sets us up for a potential Bearish Butterfly Harmonic pattern. The beauty of the bearish butterfly however is that it gives us a higher high but the follow-through once price has hit the Potential Reversal Area is often bearish on these harmonics. For the bullish case one will want to watch the $49600 area. If price comes back up to this level and breaks it, then this harmonic could be in the process of being negated. On the flipside, having buy orders waiting around $46829 would be a good idea as this is not only a great support area at the .5 fibonacci level.. but also the bottom of the C leg of the Bearish Butterfly pattern, something that in my opinion is no coincidence. Please note this does not HAVE to happen. Price could reverse from here and go much higher than $49600 or go lower from here and break our .5 level altogether as well. However, if this is to playout, the $51400 price area appears to be a wise area to take profit if a rally is to eventually come again anytime soon.
Long
by TradeVibez
Great opportunity to buy Amazon.comAmazon is one of the world’s most fundamentally sound stocks. But despite publishing the good results, the stock price drastically fell. The reasons for this fall could be the mayhem in the Chinese IT and education sectors, the profit bookings forced by the delta variant news or even a game played by the operator. Amazon.com is definitely a buy-on-dip stock. Technically we could have a dip in our hands. Let’s understand how we got a dip here. If the market participants expect the results to be good, they take stock prices to higher levels with good volumes. From point X to A the stock price had risen 10% breaking the strong supply zone. Whenever a strong supply zone is broken it becomes a strong demand zone and price comes down to test it. The price came down to point B and bounced to point C. It came down to test again but this time to take on the strong demand zone it opened with a gap-down. The gap down below this zone removed the bullish participants by triggering long unwinding and bears also gained power. Now bulls will wait until the price reaches the demand zone or a dip. At the dip, if bulls gain power it triggers short covering thus kicking bears out. The dip may be at point D. The point D we got here is the terminal bar price of the bullish butterfly pattern, which is a fib ratio of 1.618. This point D lies in an old demand zone that has been tested several times. Historically whenever the price went down this demand zone, it fell by 10% and then rose back. But when it bounced back rose by 10% and a maximum of 18%. The take profit levels for butterfly pattern will be 0.618 fib retracement of CD and can be trailed up to 1.272 fib retracement. Buy at 3185 (point D) with SL placed at 3043(SL for butterfly pattern @fib ratio 2) Reward >= (3511-3185) = 326 Risk = (3185-3043) = 142 RR>= 2.23 Buy at some qty at 3185 and average the price with some more qty if the price reaches 3043 to 2880 zone with SL of day closing price below 2880. Points to be considered 1) The volumes are lower than the 20 moving average since the major gap-down. 2) RSI is at 28 indicating the stock is oversold. 3) The stock price trading in the demand zone with lower volumes could be a sign of a pullback. As the markets are down due to early tapering news, these levels may not work. If you want to be absolutely sure then wait for the price to break out in either direction with good volumes, then consider your position. Please consult your financial advisor before investing.
NASDAQ:AMZNLong
by Sanjan91
3
USDJPY > Possible Harmonic Bullish Butterfly Pattern!!Friends I hope you are feeling kind and generous today to give the idea the likes and comments it deserves. Analysis on #USDJPY A possible harmonic bullish Butterfly pattern near the structure support level might come soon for a possible buy. two ways for me to get into this setup: 1- aggressive, setting limit buy order. 2-conservative, waiting for confirmation on the lower time frame, which is what I would probably do as I am extra careful when it comes to trading USD. Thank you so much for your support. Check today analysis below⠀ >>“ Only trade when the probabilities of the market going in your favor are greater than it going against you." TradingAxis
by TheTradersAvenue
3
Bitcoin Analyze (Counting Waves at Timeframe 15min)!!!Hi everyone, I am trying to explain fast about this post because we are talking about Timeframe 15 min ⏰. Bitcoin Analyze ( BTCUSDT ) Timeframe 15 min ⏰ I don't know that did you read my previous post about Bitcoin analysis or not !? if YES , please read this post, if NO , first please read my post with the topic'' Bitcoin Analyze (Road Map) !!!🗺️''. Location 🌊: Bitcoin was able to pass Main wave B at 48800$. now, Bitcoin has started Main Wave C that which has 5 microwaves. if I want to say more accurately, probably Bitcoin is running on microwave 3 of microwave 1 of Main wave C , While microwave 3 is extended. Exactly, Bitcoin is on microwave 2 ( WXY Double Three Structure= Double ZigZag ) of microwave 3 of microwave 1 of Main Wave C (Long Story 😂). wave Y also usually ends at 100%( 46000$ ) – 161.8%( 47110$ , not accept⛔️) Fibonacci extension relative to wave W . The third swing wave Y should not go up 161.8%( 46300$ ) extension of the first swing wave W . Otherwise, it increases the odd of further upside. the end of wave Y : Target 1: 46000$ until 46300$ (more possible) Target 2 : 46000$ until 46822$ ❗️Warning❗️: over 46822$, my counting waves will be fail. Bitcoin can move between 46180$ until 43960$ = Rest time ⏰ Or when Bitcoin arrives in our heavy support ( 43960-43770$ ), it can be break support and making microwave 3 of microwave 3 of microwave 1 of Main wave C . My Suggestion : if you have Bitcoin , you have to think about taking profit from them Soon/ if you don't have coins, Don't be FOMO , probably time will give you another chance 👍😉. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy , this is just my idea, and I will be glad to see your ideas in this post. Please do not forget the ✅ 'like' ✅ button 🙏😊 & Share it with your friends, Thanks, and Trade safe
by pejman_zwin
6
AUDUSD > A Possible Bullish Harmonic Butterfly Pattern!!Friends I am overwhelmed by your generosity, thanks for the likes and comments, thank you for being so giving and kind, not many people have the virtue of generosity. Analysis on #AUDUSD A Possible bullish harmonic butterfly pattern might complete soon near the structure support level where I will be looking for a buy if the price action is favorable and meets my rules Check today analysis below⠀ >>“ Only trade when the probabilities of the market going in your favor are greater than it going against you." TradingAxis
by TheTradersAvenue
23
AUD/USD BUY VIEW....... 💹AUD/USD ⏬BUY STOP @ 0.73903 ✅TP # 0.74233 ⛔️SL 0.73615 📊 Trade Accuracy 70% 📊 📊 Follow Proper M.M & Use S.L 📊 AronnoFX will not accept any liability for loss or damage as a result of reliance on the information contained within this channel including data, quotes, charts and buy/sell signals If you like this idea, do not forget to support with a like and follow. Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad
Long
by AronnoFx