Chart Patterns
GBP/USD - LONG POSITION I believe that GBP/USD is presenting a strong buying opportunity based on my analysis. The currency pair is currently rejecting the 78.6% Fibonacci retracement level, which is a significant technical indicator suggesting a potential reversal or retracement. This level often acts as a key decision zone where buyers regain control after a pullback.
To validate this setup, I am closely monitoring the price action for strong wick rejections and bullish candlestick patterns, as these are reliable signals of a reversal. If these confirmations occur, I plan to enter a buy position with a well-defined stop-loss placed just below the 78.6% level to minimize risk.
This trade setup offers an excellent risk-to-reward ratio of 1:4, meaning for every 1% of risk, there is the potential to gain 4%. Such a favourable ratio ensures that even if some trades fail, the profitable ones outweigh the losses.
Additionally, I am considering other confluences to strengthen my confidence in this trade. These include:
1. Momentum Indicators: Observing divergence on the RSI or MACD for signs of bullish momentum.
2. Trend Continuation: Ensuring the broader trend aligns with this reversal; for example, a higher timeframe uptrend would support this buy idea.
3. Volume Analysis: Looking for increased buying volume around this level, which often signals institutional activity.
It’s also crucial to stay updated on any upcoming economic data releases or news events that could impact GBP or USD, such as interest rate decisions, inflation reports, or geopolitical developments. These events could either reinforce or disrupt the technical outlook.
Overall, I believe this trade has a solid probability of success if the technical and fundamental conditions align. By sticking to the plan and maintaining discipline with risk management, this setup has the potential to be highly rewarding.
BTC/USD "Bitcoin" Crypto Market Heist Plan on Bearish Side🌟Hi! Hola! Ola! Bonjour! Hallo!🌟
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Based on 🔥Thief Trading style technical analysis🔥, here is our master plan to heist the BTC/USD "Bitcoin" Crypto market. Please adhere to the strategy I've outlined in the chart, which emphasizes short entry. Our aim is the high-risk Green Zone. Risky level, oversold market, consolidation, trend reversal, trap at the level where traders and bullish robbers are stronger. 👀 So Be Careful, wealthy and safe trade.💪🏆🎉
Entry 📉 : You can enter a short trade at any point,
however I advise placing sell limit orders within a 15 or 30 minute timeframe. Entry from the most recent or closest high level should be in retest.
Stop Loss 🛑: Using the 4H period, the recent / nearest high level.
Goal 🎯: 90,000
Scalpers, take note : only scalp on the Short side. If you have a lot of money, you can go straight away; if not, you can join swing traders and carry out the robbery plan. Use trailing SL to safeguard your money 💰.
Warning⚠️ : Our heist strategy is incompatible with Fundamental Analysis news 📰 🗞️. We'll wreck our plan by smashing the Stop Loss 🚫🚏. Avoid entering the market right after the news release.
Take advantage of the target and get away 🎯 Swing Traders Please reserve the half amount of money and watch for the next dynamic level or order block breakout. Once it is resolved, we can go on to the next new target in our heist plan.
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[INTRADAY] #BANKNIFTY PE & CE Levels(23/12/2024)Today will be slightly gap up opening expected in banknifty. Expected opening near 51500 level. After opening if banknifty starts trading and sustain above 51550 level then only expected further upside movement in banknifty. Otherwise below 51450 level expected downside upto 51050 and this can be extend for further 400-500+ points in case banknifty starts trading below 50950 level.
SOON BTC WILL BIG DROP BEFORE REACHING 120KHello everyone as you know btc backed from 108k so current level is 96,900
just remember one thing before 120k btc will big drop for taking support areas
so here is big support level
SUPPORT 88K
SUPPORT 83K
so thats two support is also my target
its my personally idea i hope you can share your idea in comment section
always trade with your strategy and stoploss
AUDCAD FORECASTTraders we are approaching Christmas day! On these days we normally find that the market is having unusual volatility, most of the times is low volatility and volume in the market. We need to make sure that we are aware of this so that we become carefully when it comes to making decision in the market!
btcusd short appratunityThe unit of account of the bitcoin system is the bitcoin. It is most commonly represented with the symbol ₿ and the currency code BTC. However, the BTC code does not conform to ISO 4217 as BT is the country code of Bhutan, and ISO 4217 requires the first letter used in global commodities to be 'X'. XBT, a code that conforms to ISO 4217 though not officially part of it, is used by Bloomberg L.P.
No uniform capitalization convention exists; some sources use Bitcoin, capitalized, to refer to the technology and network, and bitcoin, lowercase, for the unit of account. The Cambridge Advanced Learner's Dictionary and the Oxford Advanced Learner's Dictionary use the capitalized and lowercase variants without distinction.
One bitcoin is divisible to eight decimal places. : ch. 5 Units for smaller amounts of bitcoin are the millibitcoin (mBTC), equal to 1⁄1000 bitcoin, and the satoshi (sat), representing 1⁄100000000 (one hundred millionth) bitcoin, the smallest amount possible. 100,000 satoshis are one mBTC.
Blockchain
Further information: Blockchain § Structure and design
As a decentralized system, bitcoin operates without a central authority or single administrator, so that anyone can create a new bitcoin address and transact without needing any approval. : ch. 1 This is accomplished through a specialized distributed ledger called a blockchain that records bitcoin transactions.
The blockchain is implemented as an ordered list of blocks. Each block contains a SHA-256 hash of the previous block, chaining them in chronological order. : ch. 7 The blockchain is maintained by a peer-to-peer network. : 215–219 Individual blocks, public addresses, and transactions within blocks are public information, and can be examined using a blockchain explorer.
Nodes validate and broadcast transactions, each maintaining a copy of the blockchain for ownership verification. A new block is created every 10 minutes on average, updating the blockchain across all nodes without central oversight. This process tracks bitcoin spending, ensuring each bitcoin is spent only once. Unlike a traditional ledger that tracks physical currency, bitcoins exist digitally as unspent outputs of transactions. : ch. 5
XAUUSD Flag m15
The flag pattern in the 15-minute timeframe for gold is a strong continuation pattern, and if it’s currently forming with a bullish setup, it could provide an excellent opportunity for a Buy trade. Here's how to approach it:
Steps for Analysis and Trade Execution:
Identify the Pattern:
Previous Trend: The trend before the flag should be bullish (flagpole).
Correction Phase: A small, downward-sloping channel (the flag itself).
Breakout: Look for a breakout above the flag's resistance.
Confirm the Breakout:
Check if volume increases during the breakout.
Ensure the breakout candle is strong (a large body with small or no wicks).
Entry Point (Buy):
Enter the trade after the price breaks above the flag’s resistance.
You can also wait for a pullback to the broken resistance (now acting as support) for a safer entry.
Stop Loss Placement:
Place your stop loss below the recent swing low or beneath the flag’s support line.
Take Profit (Target):
Measure the length of the flagpole and project it upward from the breakout point to determine your target
Bitcoin to pump once more!?Using the daily Stoch RSI, you can see it has bottomed out on BTC the 1hour and 4hour has bottomed out too. If bitcoin doesnt bounce off the 50MA and create a double bottom we may see 85k! Or less I find this unlikely because of the stoch RSIs over sold again. My strategy says buy and sell at previous high to create a double top. This is a bearish pattern called the bearish expanding triangle. Trumps inauguration is coming so i expect this to happen.
Disclaimer, not financial advice just showing my prediction, always do your own TA, i am not responsible for any losses you may incur.
Ethereum to 10KMy estimate is that Ethereum will drop more in the short term along with the altcoin market as a whole, towards some form of a liquidity sweep of the lows (yellow, because it is the next support area) before reclaiming the macro range eq (green). If this happens, I'd expect a consolidation near the range highs (Red), otherwise if it becomes an expedited recovery then we straight push all time high (very possible). This is ESPECIALLY expedited if we recover the EQ faster than this chart suggests.
This is not a chart to display my time-prediction, but rather the structure of price I would predict on a macro scale which could easily be translated into a weekly timeframe.
Question is, how low can we get involved for? I think we are short on time for that, as this prediction would give us traders more time than likely warranted. Remembering, we could be due for weeks of consolidation, therefore I personally DCA every chance I get; dollar cost average.
If you compare this chart to, say, Bitcoin in 2016, the similarities are surreal. This is a macro (long time frame) consolidation before a major, major , expansion, in my opinion.
Trade safely, trade wisely.
Vatsik
DAY 3 - Daily BTC UpdateBitcoin must hold the key support level of $92,300 to maintain its bullish outlook and validate the Dragonfly Doji pattern on the daily timeframe. There is conflicting data, with momentum indicating increasing selling pressure, reflected in the formation of lower highs on the daily chart, but the STOCH RSI has bottomed.
Bitcoin’s hash rate—the computational power used to mine and process transactions—has risen by 5.48% to 830.78 EH/s, showcasing stronger network security and processing power. Despite this, mining difficulty remains unchanged at 108.52 T, suggesting that while miners are contributing more power, the effort required to mine a block has not yet been adjusted.
The Crypto Greed and Fear Index currently stands at 70, indicating market greed. While this sentiment suggests confidence, it could also signal caution as investors may pull back from further price increases after the recent decline. The total cryptocurrency market cap has dropped by approximately 2.9%, with Bitcoin dominance slightly decreasing to 55.1%, reflecting minor shifts in market dynamics.
In trading, long liquidations have surged, with over $38 million in Bitcoin long positions liquidated within four hours. This sharp move signals a potential bearish turn, driven by traders taking profits or reacting to external pressures. Despite this, declining trading volume suggests fewer sellers in the market, which could hint at stabilisation or a potential reversal.
On-chain data provides a more optimistic perspective. Whale accumulation has increased, and exchange liquidity inventory ratios have declined, signalling that large holders are likely accumulating Bitcoin for longer-term gains or anticipating a price recovery. Moreover, exchange reserves are decreasing, reducing the immediate supply of Bitcoin available for sale. This dynamic supports a potential price rebound if current trends persist.
The past 24 hours have been volatile, with Bitcoin leaning bearish in the short term. However, the underlying on-chain metrics—such as whale activity and reduced exchange reserves—suggest that bullish investors still have hope. A buy-the-dip opportunity may arise if Bitcoin forms a higher low in the coming sessions, potentially paving the way for a recovery.
I am still Buying the Dips :)
PS there were a few more images on the in group update - but not allowed under Trading View Rules - Sorry :(