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Chart patterns

Key Patterns Of Price ActionKey Patterns Of Price Action Key patterns of price action. Below I will describe several key patterns, but on the diagrams you can see the analysis from a technical point of view. And also please pay attention to the rules, which I do not advise to ignore. The Cup with a handle pattern is formed according to the following logic: - On an upward movement, the bulls cannot push through the next resistance level , a correction begins. It is undesirable that there were impulses during a rollback, a moderate downward movement should be observed; -By basic rules, the bottom of the cup should be formed in the area of correction levels. A deeper rollback is allowed in modified models. In case of a deep correction after entering the market, the position is transferred to breakeven as soon as possible, the probability of the trend continuation is lower, it is better to insure; Double bottom It all starts with the formation of a new low on a downtrend, after which a rollback against the trend occurs. Then, the price goes down again and rests against the previous low. And finally, after pushing off from this level, an upward movement begins, which breaks through the level of the previous local maximum. It is after the breakout of this level (confirmation line) that the final formation of the 'Double Bottom' occurs and you can start buying. The same is with a reversal in an upward market. After the first high, the price should fall by at least 10%. Otherwise, it will mean that the bears are not strong enough. Saucer Let's start with the shape of the figure. Contrary to its name, the correct shape of the 'Saucer' figure rather resembles a bowl. As you can see, the figure is formed by a smooth price movement along a parabolic trajectory. The first half of the figure (the left side of the saucer) is a smooth descent from the edge of the saucer to its bottom. The second half of the figure (the right side of the saucer) is the same smooth rise from the bottom to the edge. Ideally, the second half should be a mirror image of the first. And the bottom should in no case be sharp . The classic 'Saucer' is formed, as a rule, on large timeframes from D1. But you can also find him on H1. Flat base In trading, the term flat means an area on the chart, without a clearly defined direction of price movement, that is, a trend. In other words, flat is the opposite of a trend. Misc Rules -all BP = 10 pips -ideal prior uptrend >30% -for wks abv avg vol: #up>#down -up 20% for new base - undercut base resets base count - 66% or 3rd stage base fails - 80% of 4th stage base fails - in base bottom look for - shakeout - tight closes - volume dryout - accumulation great thanks
FOREXCOM:XAUUSDEducation
by fxpremiere
TIGR: Will the support hold? Requested by veeteeeTiger brokerage is a up & coming brokerage firm. They seem to be pretty aggressive in their acquisition recently. The run at the beginning of this year has definitely fueled lots of buying interest. However, price is now back at a strong support of $14-15.50 range. The question is will it hold? The recent clamped down by the Chinese government mounts unnecessary pressure of potential growth companies. So we will have to thread very carefully with all Chinese companies. Nonetheless, I'm leaning towards the bullish side on most Chinese stocks. (I had reviewed FXI - China Large-Cap ETFs suggesting that bullishness is expected in the upcoming weeks.) I'd like to see a reversal candle pattern on the Daily chart before buying. For now, I'll stay aside. Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations. If you have any symbols that you'd like me to analyze, feel free to drop me a comment.
NASDAQ:TIGR
by leslieyimsm
LYV: Potential R/R 3 tradeCurrently in an uptrend. Doji with increased volume on both a horizontal + trend line support. Good to enter tomorrow at market open. If it gaps, anything less than 1% should still be fine. Target profit 1 at $90, giving us about R/R 3 Target profit 2 at $92.50. Stop loss at about $78.50 Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations. If you have any symbols that you'd like me to analyze, feel free to drop me a comment.
NYSE:LYVLong
by leslieyimsm
USDCAD > Careful, Breakout Might Come Soon!!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 #USDCAD Possible cup and handle pattern might complete soon to provide me with trend continuation setup for a possible buy trade if the rules are met to get in abuy trade targeting the next level of resistance 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
Long
by TheTradersAvenue
26
GBPUSD > Buy Entry May Come Soon!!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 #GBPUSD Following up on my previous GBPUSD analysis, as expected the market indeed fall and I still expect the market to and test my structure support zone near the 1.3600 support level. if the market comes and tests my level of support I will then drop to the lower time frame looking for a reversal pattern or one of my trading strategies to get triggers so I can get in a buy trade targeting the previous level of resistance. 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
4
Improve Forex TradingWhen I was learning how to trade and when I was watching and reading different trading educators, these words naturally pissed me off. What the hell are you talking about? What confirmation? It was a full-blown mystery...🤯 Then, once I started to mature in trading and trade full-time, I became an author on TradingView. Posting my forecasts and trading setups, I frequently mentioned the confirmation. And now the newbies that are reading me and learning from me are pissed off...🤬 That is so funny I guess. But the truth is that the confirmation must become a fundamental part of your trading strategy. It is your key to successful trading. What exactly is the confirmation? It depends on many many different things, in this article I will discuss with you the 4 main types of confirmation and give you detailed examples. 1️⃣ - PRICE ACTION CONFIRMATION That is actually what I prefer. Analyzing different markets and searching for decent trading opportunities often times we find some peculiar instruments to watch. Identifying the market trend and key levels we find the potential spots to trade from. But do we just open the trade once the "ZONE" is spotted? I wish it could be that simple... Trading just the zone, without additional clues brings very negative figures. We definitely need something else. Price action & candlestick patterns can be those clues. Accurate reflection of the current local market sentiment makes the patterns a very reliable confirmation. Dodji's, pin bars, double tops/bottoms ... Proven by history, the skill of identification & reading the patterns will pay off quickly. Being in some sense the language of the market, the patterns are the fundamental part of my trading strategy. 2️⃣ - FIBONACCI LEVELS Fibonacci levels are a very popular technical tool. Being applied properly it helps the trader to confirm or, alternatively, disqualify the identified "ZONE". With multiple different methods like confluence trading, fibs are applied in hedge funds and various banking institutions. The main problem with the fibs, however, is complexity and a high degree of subjectivity. Meeting different traders and watching different posts on TradingView I noticed that all traders tend to have their own vision. There is no universal system to apply here, a proper fib.confirmation technique can be built only with long-lasting backtesting and practicing. 3️⃣ - FUNDAMENTAL NEWS The figures in the economic calendar, news, tweets. Actual fundamental news can become your best confirmation tool. However, the main obstacle right here is the promptness, validity and reliability of the data that you get. The information shouldn't be delayed and it must be objectively true. The search for such a source is by itself is a very time-consuming and labor-intensive business not even mentioning its potential costs. And that is not all. Knowing how to make sense of that data, its proper perception, and understanding requires a solid economical and financial background and experience. At the end of the day, becoming an expert in fundamental analysis , the trader can easily sort the trading zones and trade only the ones that are confirmed by a decent fundamental trigger. 4️⃣ - TECHNICAL INDICATORS I believe all the traders apply some indicators. From a simple moving average to some complex composite algorithms, indicators play a very important role in trading. Being 100% objective and providing up-to-date real numbers and figures, they are our allies in a battle against subjectivity. For many traders, the various signals from indicators are considered to be accurate and reliable confirmations. Many algotrading solutions are operating simply relying on such signals and being able to bring consistent profits proves the power of technical indicators. What confirmation type should you rely on?🧐 I guess the main rule right here is that the confirmation must MAKE SENSE to you. You should feel the logic behind that. It must make you confident in your action, even in case of the occasional losses, it must keep you calm and humble. Let me know in a comment section what confirmation do you prefer!
Editors' picks
Education
by fxpremiere
22
GBPUSD: Looks like bears are trapped! (Requested by millanoeli)Main analysis is from the Daily chart. Price surged up from a month long divergence, and then a 50% retracement is not uncommon. We should expect price to continue going higher but yesterday's big red candle (BRD) seemed to have trapped the bulls! If today ends up to be a doji, then we can expect an up day tomorrow. Plus, price is currently at a support level, although it's quite a big range. Drilling to 4H chart, we can still see weakness. This means we can expect a better entry if price does sell off to the bottom of the support range. Entry & Stop Loss are placed based on 1H chart. TP1 based on resistance at 4H. Not the best R/R. Will have to really watch to time the entry for better R/R. Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations. If you have any symbols that you'd like me to analyze, feel free to drop me a comment.
Long
by leslieyimsm
2
GBPUSD > In Depth Analysis for A Buy!!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 #GBPUSD looking at the chart it seems reasonable to predict the market will keep falling to test 1.3600 structure support level which witnessed very strong demand and the market rallied 400pis. if the market indeed come to my kill zone I'll then look for a reversal pattern on the lower time frame looking for a reason to enter a long trade with a good risk to reward Check today analysis below⠀ >>“ Only trade when the probabilities of the market going in your favor are greater than it going against you." TradingAxis
Long
by TheTradersAvenue
12
NZDCHF - LongNZDCHF looks to continue its bullish long-term trend after a few weeks of bearish momentum. Price recently broke above the descending channel and the 4h EMA, suggesting a trend reversal. If price holds at the ascending channel support (around 0.6435), and fib level 78.6%, we could see bullish momentum really kick in, up to the 0.6545 level. Entry checklist: - rejection at ascending channel support and previous resistance around 0.6435 - rejection at 78.6% fib level - bullish confluence among MACD and RVI
Long
by francesgurton
1
CADCHF- LongCADCHF recently showed some bullish momentum and broke through the 4H EMA. Price has since returned to the support line of its ascending channel. If we see price reject this support line, fib level 78.9% and break past the 4H EMA, price will likely continue its bullish momentum and hit the 0.7420 area (previus support) Entry check list: - rejection at support line (around 0.7300) - rejection at 78.6% fib level - break past the 4H EMA - bullish confirmation among MACD and RVI
Long
by francesgurton
OXTUSD Orchid Next Stop 200 Day MA .47 Cents!Really quite simple. OXTUSD currently trending up. About to break above major accumulation area (currently resistance) that is ranging on the 4hr chart between .3637 (purple line) and .3773 (black line). Past resistance will become future support. But once we break this resistance area , I believe we'll go to the 200 day moving average pretty quickly (like within hours). The 200 day ma currently is priced at .4743. I would suggest a good range to target with this next surge would be anywhere from .46-.48 cents. Once hit, we will probably come back down again. Maybe all the way back down to the .3773 support. Looks like some good trading ahead friends. Have fun with this. As always, I wish you all the best.
COINBASE:OXTUSDLong
by stewdamus
The W pattern studyW pattern is directly opposite of the M pattern as you could probably assume Using GNOUSD as an example we can see the W breaking out and completing its formation In doing this it seemingly forms what I would call a 'Handle' for the pattern Observing this allows the comparison between the two patterns (W and Cup and Handle) Also the observation of a clear cut Top, similar to the cup and handle Outlined on chart 1,2,3 are my key takeaway points that I have come to believe
KRAKEN:GNOUSDEducation
by Bixley
4