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#Bitcoin bearish breakout of very important trendline We can clearly see in this chart that the price has reached the upper boundary of a bullish channel, where it would encounter selling pressure. As a result of this selling pressure, the price on Friday, January 12th, formed a bearish impulsive candle. Following this candle, it managed to break below the short-term bullish trendline that the price had respected in the last few months. The bearish breakout of this trendline is a second signal, after the rejection from the bullish channel, that we might see further bearish movement in Bitcoin. If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
BITSTAMP:BTCUSDShort
by mohemati
Levels to WatchIn the world of trading, never underestimate the power of key support and resistance levels. These levels often become the battleground for market movements, forming a Sideway Bounce Trading setup. On my radar for AUDCAD: - Buying Opportunity: Watch for potential long entries at 0.8931. - Shorting Opportunity: Keep an eye on the chance to go short at 0.8982. This trade strategy remains active as long as the support and resistance levels hold. Share your insights and trade plans on AUDCAD below!
by RaynLim
Exploring OpportunitiesGiven the current consolidation phase in the market, I'm open to exploring various trading opportunities this week. For counter-trend traders eyeing a shorting opportunity, the completion of a Bearish Bat Pattern at 1.2803 is a crucial level to watch. Alternatively, for those in search of a buying opportunity, a retest on the trendline, conveniently aligned with the 1-hourly chart, could provide an entry point. What's your strategy for GBPUSD? Share your insights!
by RaynLim
Learn Profitable Doji Candle Trading Strategy In the today's post, I will share my Doji Candle trading strategy. This strategy combines the elements of multiple time frame analysis, price action and key levels. Step 1 Analyze key levels on a daily time frame. Identify vertical and horizontal supports and resistances. Here are the key structures that I spotted on on AUDUSD. Step 2 Look for a formation Doji Candle on a key structure. This rule is crucially important: we will trade only the Doji candles that are formed on key levels. From key supports, we will look for buying, and we will look for shorting from key resistances. Look at this Doji Candle that was formed on a key daily support on AUDUSD. Step 3 Look for a horizontal range on a 4h/1h time frames. Doji Candle signifies indecision. Quite often, you will notice the horizontal ranges on lower time frames when this candlestick is formed. Here is a horizontal range that was formed on a 4H time frame on AUDUSD after a formation of Doj i. Step 4 Look for a breakout of the range. To sell from a key resistance, we will need a bearish breakout of the support of the range. That will be our bearish confirmation. To buy from a key support, we will need a bullish breakout of the resistance of the range. It will be our bullish signal. Here is a confirmed breakout of the resistance of the range with a 4H candle close above. That is our bullish confirmation on AUDUSD. Step 5 Buy aggressively or on a retest. After you spotted a confirmed breakout of the range, open a trading position aggressively or on a retest. Personally, I prefer trading on a retest. If you sell, a stop loss should be above the high of the range and your target should be the closest key daily support. If you buy, your stop loss should be below the low of the range and a take profit will be on the closest daily resistance. On AUDUSD, a long position was opened on a retest. Stop loss is lying below the lows. Take profit is the closest resistance. Here is how the great strategy works! Always patiently wait for a confirmation! That is your key to successful trading Doji Candle. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDEducation
by VasilyTrader
4
Controlled Sideways Trends Ahead of EarningsThe Giant Banks and Credit Card companies benefit the most from the Federal Reserve Board's overnight interest rate hikes. As the FRB increases its lending rate, it allows big banks and credit companies to increase their interest rates to consumers, small businesses, etc. That usually means higher revenues. NYSE:V is in a sideways trend that is not as consistent as would be ideal ahead of its earnings report in about 3 weeks. However, HFTs are aware of the tendency for credit card companies to prosper during high interest-rate markets. Study the candlestick patterns: Note the quick reversal back down after a higher price level was reached. Note the rebound the same day when price dropped out of the lows of this sideways trend. There is control in this pattern which is typical of Professional trading activity.
NYSE:V
by MarthaStokesCMT-TechniTrader
Over-speculated Patterns Heading Into Earnings SeasonNYSE:JPM is the last Bank that has been able to hold onto its Dow 30 component status. It is running up on a combination of buybacks and ETF development for Dow 30 index components. The stock is over-speculated heading into the earnings season. Volume Oscillators show the extreme pattern clearly. So even minimal weakness in the earnings report could cause an HFT trigger. It might surprise either way. Some of its growth in 2023 was due to the regional bank debacle when JPM chose certain small banks to target for a silent hostile takeover.
NYSE:JPM
by MarthaStokesCMT-TechniTrader
NVDA: Beware of these Support / Resistance Levels (H & D charts)NVDA shares are losing momentum after a powerful upward reaction this morning. It seems that as it approaches its resistance area, it is becoming difficult for NVDA to maintain its upward trajectory. We had a good reaction near the Fibonacci retracements, which, as we warned in our last public study, was our main area of support. Now the price is trying to recover, but there are still some challenges ahead. The link to our previous analysis is below this post, as usual. It's interesting to note that despite losing momentum, the price could still seek out the $487.61 region, a secondary resistance and previous top that can be seen on the hourly chart: At the moment, there is no clear sign of a bearish reversal, but we should remain vigilant as the price is finding it difficult to break through the resistance of its Ascending Channel, as evidenced by the purple lines. A correction down to the 21 EMA is plausible, but if the price loses this support, then we could see NVDA near the support of its channel again. So, in the short term, it's all about the Ascending Channel, and in which direction there will be a breakout, as well as the 21 EMA. In the medium term, we should focus on the Fibonacci retracements, and the resistance at $487. I must admit that I would like to see the price at $487 again, since that point has been a personal target for me since the first buy signal at $469: Ignition Bar + above the support of the ascending channel + breaking a pivot point + breaking the 21 ema on the 1h chart = Clear buy signal (to me, at least). However, depending on how the price reacts today, maybe the bullish thesis will be thwarted. I’ll keep you updated on this, so remember to like this idea, and follow me for more analysis like this. All the best, Nathan,
NASDAQ:NVDA
by Nathan_The_Finance_Hydra
23
Awaiting Bullish Gartley Pattern after Bearish Shark SetupNZDUSD showcases a compelling combo trading setup - a Bearish Shark Pattern visible on the weekly and daily charts. This combination suggests potential movement in the market. My approach involves waiting patiently for the market to shape a Bullish Gartley Pattern on the 1-hourly chart. This setup offers a more favorable Profit Factor, enhancing the trade's potential. What are your thoughts or trade plans regarding NZDUSD? Share your insights below!
Short
by RaynLim
Bullish Gartley Pattern Alert on 8 Range Bar ChartA Bullish Gartley Pattern has emerged on GBPJPY's 8 range bar chart, presenting an opportunity for those leveraging TradingView Pro account alerts. Alternatively, setting alerts on the 15-minute chart is viable for this setup. This pattern aligns with a buying opportunity that could ride the bullish wave, in conjunction with the Type2 Bullish Shark Pattern on the daily chart. What's your trade plan or analysis for GBPJPY? Share your insights or strategies below!
Long
by RaynLim
3
Shorting CADJPY with Weekly Chart Alignment & Intricate AnalysisIf you missed the chance to capitalize on the sell limit at 110.36 aligned with the Weekly Chart's Shark Pattern on CADJPY, amounting to a 306-pip move (~3,060 USD/lot), don't dwell on the past. Now, there's a fresh opportunity presenting itself on the 1-hourly chart – a Bearish Shark Pattern gearing up to complete around 108.01. To optimize this trading chance, exercise patience and await candlestick confirmation before entering the trade. Are you eyeing this CADJPY setup? Share your thoughts below!
Short
by RaynLim
1
Long-Term Bullish Bias Amid Short-Term Retracement Signals!Despite prevalent negative sentiments surrounding the Dollar's bearish outlook, I maintain a bullish bias on USDJPY. I perceive the recent bearish move as a retracement within a longer-term bullish trajectory. For those inclined towards catching the retracement, the Bearish Fib-3 Bat Pattern on the 1-hourly chart might provide an entry opportunity for shorting at 143.28. What's your stance or strategy regarding USDJPY? Share your thoughts below!
Short
by RaynLim
Technical study of this INSANELY powerful bull market!Once again, the indices are rising strongly. While the SPY is heading towards its all-time high, the QQQ and the Dow Jones ETF are already breaking a new all-time record, again. When will we see the market calm down again? What if a top signal appears on the indices? The SPY ETF is in a clear uptrend, making rising tops and bottoms, breaking its resistances and trading above the 21 EMA (which is pointing upwards, by the way). The next technical resistance is at $479.98, the all-time high. Are there any signs of a top in the SPY, either from a candlestick pattern or a chart? None that I know of. On December 14th we had an attempt to signal a top, a sort of Hanging Man pattern. The problem is that the pattern wasn't even triggered, as the price had to lose and close below the low of the Hanging Man candle. This corroborates what was said in my educational analysis on SPY. Many people try to guess the top based on weak technical patterns, they get scared of one or two bearish candles even without confirmation of a correction. The link to our latest public study on SPY is below this post. Furthermore, according to Thomas Bulkowski's studies, the Hanging Man pattern serves as a bullish continuation pattern 59% of the time, contrary to the popular belief that it is a bearish reversal pattern. Perhaps this is because of the hourly chart. The vast majority of the time, a Hanging Man only serves as a short-term pullback to a support point. In this case, looking at the hourly chart, we see that after the 14th, highlighted in yellow, we see a correction to a support area, made not only by the 21 EMA, but also by a trend line that connects the bottoms in SPY since December 6th. As SPY approaches its high, we see QQQ and DIA trading above their previous high of 2021/2022 (green lines). There is no evidence known to me that could trigger a correction yet. The uptrend should continue in the absence of clear signs of a reversal. Remember the sixth principle of Dow Theory: Trends persist until a clear reversal occurs. What if the indexes correct? Then the price should seek its previous supports. In the case of the SPY and QQQ, the 21 EMA is a good candidate for a bottom. The DIA could correct up to $369.50, its former resistance, which in theory will be a future support, according to the principle of polarity. This scenario describes a pullback, not a reversal, as there is no possible bearish reversal structure on the indices yet – there isn’t even a top signal. What could trigger a bearishh reversal? If a bull trend is made of higher highs/lows, then if we see the price making lower highs/lows, and if it loses the 21 EMA on the daily chart, then we'll know that the trend is reversing. However, I do agree that if the market calms down, now the timing would be perfect, as the indices are all trading around their all-time high, a critical price level for the market. I’ll keep you updated on this, so remember to support this idea if you liked it, and follow me for more. Best regards, Nathan.
AMEX:SPY
by Nathan_The_Finance_Hydra
2
TSLA: Pay Close Attention to These Chart Patterns (D & W charts)Today we see an important move in TSLA's share price, a break of the resistance level of its previous top at $252.75. Now, after the breakout, we see that this area is serving as intraday support, which is in line with the principle of polarity (former supports can become future resistances and vice versa). Since our last analysis last week, we see that the price has broken through its most important resistances, which we mentioned in our previous analysis, and is committed to a clear uptrend. The link to the latest study is below this post, as always. What’s more, after our analysis, TSLA performed a clear “Hammer” candlestick pattern above its support line, as evidenced on the chart above. According to Bulkowski’s studies, a Hammer acts as a bullish reversal roughly 60% of the time (Encyclopedia of Candlestick Charts, chapter 40: Hammer, p. 348). What's even more interesting is that the price has thwarted a possible reversal pattern called Head and Shoulders, as we can see in detail in the chart below. By not triggering the neckline by closing a candle below $230, and reacting to the point of breaking through the top of the head, TSLA has completely rejected any bearish thesis. Another important point that reinforces the bullish sentiment is the breaking of an important resistance on the weekly chart, breaking a bearish channel, frustrating the price's downward sequence and triggering a bullish reversal for the long term. As we see in the image below, such a pattern could be interpreted as a Bullish Flag as well. Now, TSLA shares could reverse the long-term trend and finally turn bullish. Could it follow the example of the Nasdaq index, which made a similar pattern recently, also on the weekly chart? QQQ chart: It's a plausible move with a good technical basis, but as always, we need to be aware of a few risk points. Firstly, if the price loses a lot of strength, to the point of making a bearish pattern on the weekly, closing below the resistance of the bearish channel, the bullish thesis loses strength. Secondly, if a reversal pattern is observed on the daily, and the price loses its supports, we have a rejection of the uptrend in the medium term. Especially if the 21 EMA is lost. Although the price has breached the average a few times, at no time since November 10 have we seen a close below the 21 EMA on the daily chart. If this happens, the bullish thesis described in the analysis could be thwarted. I'll keep you updated, so if you like the content, please support me, and follow me to receive more analysis like this, with technically grounded ideas. Best regards, Nathan.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
7