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Candlestick analysis

ETH: Next targets.Hello traders and hodlers! It’s been a while since the last time we studied ETH, but here we go! Ok, ETH passed through the $ 289, which was our main target since May (I believe), and now it is in a clear bull trend , doing ascending tops and bottoms . It defeated another resistance at $ 364 and it seems it found a support at its previous top, around $ 414. Since we are in a bull trend, pullbacks are just opportunities to buy. Also, the volume increased a lot over the last month, which is a good indicator that this bull momentum is solid. Now, there are few things to keep in mind. First, the recent candlesticks have some nice shadows under their bodies , showing us that there are people buying near this support level. And since the trend is bullish, any bullish candlestick pattern could trigger a long trade. Second, if we see a pullback beyond the $ 414, that’s ok, it won’t be a reversal sign . In fact, it could hit the red line at $ 364 again without ruining the trend. This gets clearer when we look at the weekly chart: Yes, the chart is a little stretched lately, but again, that’s what pullbacks are for. To give another chance for those who didn’t bought it before, to jump in a safer trade. The 21 ema might be a support as well, but we can’t count on it. The trend is strong now, and we can set a target at $ 517. But if you ask me, in the long run ETH has the potential to hit the $ 828 again. And, of course, please, support this idea! You wouldn't still be reading this if you didn't find it interesting, right? And I invite you to follow me for more analyses like this. There's no clear sign on ETH, but the trend favors the bulls. Recent public trades (links below): XP: +30% AAPL: +10% LB: +45% UKOIL: +62% Congratulations to all of you, my dear subs, who believed in my trading methodology, and challenged the world by being a bull! We deserve to celebrate! BECOME A MEMBER! Remember to follow me , I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped. Thank you very much. * LIKE this idea and FOLLOW me, because: - Here, you will see clean charts; - Trades with clear risk management; - The best of Dow Theory, Price Action and Candlestick psychology; - Chart patterns with statistics. * * My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
COINBASE:ETHUSD
by Nathan_The_Finance_Hydra
USDCHF Trend Continuation PatternIf you like the content and are getting value out of it, please make sure to hit that like button and leave a comment. Also, if you're interested in seeing more of my analysis don't forget to follow me, and make sure to check out my profile/bio for more in-depth analysis. Welcome back for some more chart analysis practice. I found another trend continuation pattern opportunity here on USDCHF. Here as you can see, the market broke below the previous lows of .9056 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ .9167. Since my entry got hit, I put my stop loss 10 pips above the most recent high @ .9250, and my target @ .9053. Opinion: So far, this trade is heading towards my target for the time being, but will it continue? It looks like it could be losing momentum, so we'll just have to wait and see what happens. Ultimately guys, while trading can be very simplistic at times, it is genuinely a hard skill to master, and if you are serious about becoming a consistently profitable trader, then you need to master chart analysis. So, take it seriously, get out there and practice it every day. Disclaimer: This is not a recommendation or an endorsement to buy, sell, or take any positions of any kind, in any market. This is for educational purposes only. I am not taking this trade in real life, and I have not back-tested this particular strategy on this currency pair, so I really don't know how this type of trading strategy will work on this currency pair. That being said, never trade anything you haven't back-tested on your own. Don't trade a strategy just because someone tells you it's a good strategy, always back-test the strategy in question over historical data before trading it with real money. Trading a strategy that has not been back-tested is the equivalence of gambling your money away, or trying to shoot a target when its pitch-black outside. You work hard for your money, so don't throw it away.
Short
by Matthew_Spositi
GBPUSD Trend Continuation PatternIf you like the content and are getting value out of it, please make sure to hit that like button and leave a comment. Also, if you're interested in seeing more of my analysis don't forget to follow me, and make sure to check out my profile/bio for more in-depth analysis. Welcome back for some more chart analysis practice. I found another trend continuation pattern opportunity here on GBPUSD. Here as you can see, the market broke above the previous highs of 1.3170 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ 1.3059. Since my entry got hit, I put my stop loss 10 pips below the most recent low @ 1.2971, and my target @ 1.3176. Opinion: At first, the market broke below, and closed below my entry, making me feel like I was going to get stopped out. But the market came back and is now looking like it's treating my entry level as support. So, hopefully we'll have a winner here, but we'll just have to wait and see. Ultimately guys, while trading can be very simplistic at times, it is genuinely a hard skill to master, and if you are serious about becoming a consistently profitable trader, then you need to master chart analysis. So, take it seriously, get out there and practice it every day. Disclaimer: This is not a recommendation or an endorsement to buy, sell, or take any positions of any kind, in any market. This is for educational purposes only. I am not taking this trade in real life, and I have not back-tested this particular strategy on this currency pair, so I really don't know how this type of trading strategy will work on this currency pair. That being said, never trade anything you haven't back-tested on your own. Don't trade a strategy just because someone tells you it's a good strategy, always back-test the strategy in question over historical data before trading it with real money. Trading a strategy that has not been back-tested is the equivalence of gambling your money away, or trying to shoot a target when its pitch-black outside. You work hard for your money, so don't throw it away.
Long
by Matthew_Spositi
Rock Companies IncI should have published about this asset a day or so ago. I've actually been tracking it since it's inception, but I will say that there might be an opportunity presenting itself soon to invest at (or near) the opening price. I'll be paying attention to Price Action to leave the necessary clues needed for me to react. Yesterday's P.A. had breached a level ($20.31) and today it's below it so that opening price is starting to look even better to me. We shall see..
NYSE:RKT
by ChrisJTradesFX
6
EURUSD Trend Continuation PatternIf you like the content and are getting value out of it, please make sure to hit that like button and leave a comment. Also, if you're interested in seeing more of my analysis don't forget to follow me, and make sure to check out my profile/bio for more in-depth analysis. Welcome back for some more chart analysis practice. I found another trend continuation pattern opportunity here on EURUSD. Here as you can see, the market broke above the previous highs of 1.1807 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ 1.1779. Since my entry got hit, I put my stop loss 10 pips below the most recent low @ 1.1689, and my target @ 1.1901. So far, this looks like a typical trend continuation pattern, question is, did I draw from the structure point that the market is going to respect or violate. That being said, we'll just have to wait and see what happens. Ultimately guys, while trading can be very simplistic at times, it is genuinely a hard skill to master, and if you are serious about becoming a consistently profitable trader, then you need to master chart analysis. So, take it seriously, get out there and practice it every day. Disclaimer: This is not a recommendation or an endorsement to buy, sell, or take any positions of any kind, in any market. This is for educational purposes only. I am not taking this trade in real life, and I have not back-tested this particular strategy on this currency pair, so I really don't know how this type of trading strategy will work on this currency pair. That being said, never trade anything you haven't back-tested on your own. Don't trade a strategy just because someone tells you it's a good strategy, always back-test the strategy in question over historical data before trading it with real money. Trading a strategy that has not been back-tested is the equivalence of gambling your money away, or trying to shoot a target when its pitch-black outside. You work hard for your money, so don't throw it away.
Long
by Matthew_Spositi
2