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Why $100K Is Closer, $200K NEXT?Bitcoin is holding **strong above $95,000**, even under record-breaking selling pressure. It briefly dipped to **$94,726 on Feb. 9**, but the rebound was swift. This is the **highest selling pressure since 2022**, yet BTC is still knocking on the door of **$100,000**! If Bitcoin can survive this, imagine what happens next. The bull run is only getting started—**$150K, $200K?** It’s only a matter of time. Stay sharp, stay invested, and watch history unfold! L1NK 0N B10 #Bitcoin #BTC100K #CryptoRevolution #FutureOfMoney
CRYPTOCOM:BTCUSDLong
by IPatrice
What Is a High and Tight Flag Pattern, and How Can You Trade It?What Is a High and Tight Flag Pattern, and How Can You Trade It? The high and tight flag pattern is a formation in technical analysis, signalling a continuation of a strong bullish trend. Recognised by its sharp rise followed by brief consolidation, this formation is highly valued by traders. In this article, we delve into the specifics of the high and tight flag pattern, its characteristics, and how to trade it effectively. Understanding the High and Tight Flag Pattern You have heard of the flag pattern. The high and tight flag pattern is its version. The high and tight flag pattern is a powerful and rare chart formation used in technical analysis. It signals a potential continuation of a strong upward trend and is favoured by traders for its reliability in bullish markets. This formation is characterised by two main components: the flagpole and the flag. The flagpole is formed by a steep price increase, typically ranging from 50% to 100% over a short period, often spanning one to three weeks, though potentially more or less. This sharp rise indicates strong buying interest and momentum. Following the flagpole, the flag appears as a brief consolidation period where the price moves sideways or slightly downward. This phase also usually lasts one to three weeks and represents a pause in the upward trend as traders take profits and the market digests the sharp rise. The flag portion should retrace less than 20% of the flagpole's height to maintain the pattern's integrity. The high and tight flag is highly valued for its effectiveness. When the price breaks out above the upper boundary of the flag with increased volume, it often signals the resumption of the bullish trend. Traders view this breakout as an opportunity to enter or add to positions, anticipating further upward movement. Characteristics of the High and Tight Flag Pattern Here are the specific criteria that define the high and tight bull flag. - Steep Flagpole Formation: The formation begins with a sharp price increase. This rise is typically between 50% and 100%, which is commonly observed in stock and crypto* markets. For forex or commodities, traders can simply look for large, outsized moves that may result from significant news events. - Flag Formation: After the flagpole, the asset enters a consolidation phase. This is how the flag is formed. This part of the pattern appears as a brief sideways or slightly downward movement, indicating a pause as the market digests the rapid price increase. - Retracement Level: During the flag formation, the price generally retraces between 10% and 20% of the flagpole's height. This retracement doesn't need to be an absolute 10% to 20% decrease in price but rather a proportional pullback relative to the initial rise. - Timeframes: The high and tight flag can occur across all timeframes and assets. However, it is generally more accurate on medium-term timeframes, such as the 1-hour to 4-hour charts. This makes it particularly useful for swing traders who focus on these intervals. - Breakout Confirmation: For the pattern to be validated, the price should break out above the upper boundary of the flag with renewed momentum. This breakout often signals the continuation of the prior bullish trend. Why Does the High and Tight Flag Pattern Form? The high and tight flag pattern is based on a combination of strong buying interest and market consolidation. Initially, a significant catalyst, such as positive news or earnings, drives a sharp price increase, creating the flagpole. This rapid ascent attracts more buyers, amplifying the upward momentum. Following this surge, the market enters a brief consolidation phase where traders take profits and the price stabilises, forming the flag. This pause allows the market to absorb the gains without a significant pullback and accumulate more positions. The pattern forms as investors await further confirmation of the trend, often leading to a breakout above the flag. This breakout signifies renewed buying interest and the potential for continued upward movement. Trading the High and Tight Flag Pattern Now, let’s look at general trading rules applied to the pattern. To trade the high and tight flag chart pattern for yourself, head over to FXOpen. Step 1: Identifying the Initial Steep Flagpole Movement The first step in trading the high and tight flag involves spotting the initial sharp upward movement, ideally within a broader uptrend. This steep rise should be between 50% and 100% over a short period or a noticeable sharp move, indicating strong bullish momentum. Traders often draw a trendline from the low to the high of this movement to visualise the flagpole. Step 2: Watching for the Consolidation Phase Following the flagpole, the price typically starts consolidating. This phase can appear as a weak downtrend or a sideways range, usually accompanied by lower trading volume. Traders can draw trendlines to mark the upper and lower boundaries of this consolidation, forming the flag portion. Step 3: Waiting for a Breakout The next crucial step is to wait for a breakout above the upper boundary of the flag. This breakout can occur at the flagpole's high or above the upper trendline drawn during the consolidation phase. To confirm the breakout, traders often use technical indicators such as a moving average crossover or the Relative Strength Index (RSI) moving above 50, indicating bullish territory. A tightening and widening of Bollinger Bands can also indicate a breakout is underway. It’s also best to wait for a close outside of the upper boundary to prevent trading a false breakout. Step 4: Entering the Trade, Setting a Stop, and Taking Profits Once confirmation of the breakout is found, traders enter a trade as the price breaks out or at a retest of the trendline. Setting a stop-loss order below the low of the consolidation phase is a common risk management strategy. This helps to potentially limit losses if the formation fails to hold. Profits might be taken at a 1.5x extension of the flagpole, i.e. taking half of the flagpole’s size and adding it to the flagpole’s high. Advantages and Disadvantages of the High and Tight Flag Pattern The high and tight flag is a popular tool among traders for its reliability and clear signals, but it comes with both benefits and challenges. Advantages - High Reliability: When identified correctly, this pattern often indicates strong bullish continuation, providing clear entry points. - Strong Momentum: The pattern reflects significant buying interest, suggesting sustained price movement. - Easy Identification: The sharp rise followed by a brief consolidation makes it visually distinct and easier to spot. Disadvantages - Rarity: This pattern is relatively rare, limiting trading opportunities. - False Breakouts: Without proper confirmation, breakouts can fail, leading to potential losses. - Market Dependency: Best observed in stocks and cryptocurrencies*, it may be less effective in forex or commodities. - Risk of Over-Reliance: Solely relying on this pattern without additional analysis or indicators can increase trading risk. The Bottom Line The high and tight flag is a powerful tool for identifying strong bullish trends. By understanding its characteristics and applying effective trading strategies, traders can potentially enhance their market performance. To put these strategies into practice and take advantage of market opportunities, consider opening an FXOpen account. FXOpen offers a robust platform for trading and a wide range of assets to help you execute your trading plans with confidence. FAQs What Is a High and Tight Flag Pattern? A high and tight flag pattern is a chart formation in technical analysis that signals a continuation of a strong upward trend. It consists of a steep rise in price (the flagpole) followed by a short period of consolidation (the flag). It is typically seen in stocks and cryptocurrencies* and indicates strong buying momentum, though it can be applied to forex and commodities. How to Identify a High and Tight Flag? Identifying a high and tight flag involves looking for an initial sharp price increase of 50% to 100% over a short period, forming the flagpole. This is followed by a brief consolidation phase, where the price moves sideways or slightly downward, usually a retracement of 10% to 20%, creating the flag. Drawing trendlines along the high and low points of these phases helps visualise the pattern. What Is the Buy Point for a High and Tight Flag? According to the theory, the buy point for a high and tight flag occurs when the price breaks out above the upper boundary of the flag. Traders often look for confirmation of the breakout using indicators such as a moving average crossover or RSI moving into bullish territory. By entering a trade at this point, traders can potentially take advantage of the continued upward momentum. *At FXOpen UK, Cryptocurrency CFDs are only available for trading by those clients categorised as Professional clients under FCA Rules. They are not available for trading by Retail clients. Trade on TradingView with FXOpen. Consider opening an account and access over 700 markets with tight spreads from 0.0 pips and low commissions from $1.50 per lot. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Education
by FXOpen
1
XRP/USDT Bullish Pennant Formation in ProgressThe chart illustrates a textbook Bullish Pennant pattern, suggesting the potential for upward price movement. Currently, the price action is encountering resistance near the upper trendline, indicating that a breakout may require additional consolidation. Key Observations 1. The pennant formation remains structurally intact, with the price consolidating within a narrowing range. 2. A confirmed breakout above the upper trendline is essential to validate the bullish thesis and initiate a sustainable upward move. 3. Upon a successful breakout, the projected target lies between $2.80 and $3.00, aligning with historical resistance levels. Strategic Implications Patience and discipline are paramount. Monitor closely for a decisive breakout with strong volume confirmation. Until then, be prepared for further consolidation or a potential retest of the lower trendline as the market gathers momentum.
Long
by wsaetos
3
Best Chart Patterns in Price Action for Intraday & Swing Trading Last year I shared more than 1000 free swing and intraday trading signals for Forex, Gold, Silver, Oil, Crypto and Major Indexes. The majority of the setups were based on classic price action chart patterns. What I did through the trading year, I kept a record of each free signal that I posted: noting the winners, losers and the entry reason. In this article, I will share with you the most accurate and profitable patterns for trading by accuracy and winning rate. First, let me reveal the list of chart patterns that I traded this year: double top & double bottom, head & shoulders pattern, cup & handle, bullish and bearish flag, rising and falling wedge, horizontal channel, ascending, descending and symmetrical triangles. And I did not trade every pattern that I spotted. There were some specific criteria that I relied on to confirm the validity of the patterns. Keep reading and you will learn these criteria. Secondly, you can back test the performance of a trading setup and of each pattern that I shared on my official tradingview page by your own. Simply, use the filter to display the desired pattern. Tradingview does not allow removing the trading signal once it is posted, so all the results are 100% real. My TradingView Page - www.tradingview.com Thirdly, all the chart patterns that I trade strictly formed on key daily supports and resistances . I never trade the patterns beyond key levels. For example, the triangle chart pattern on an hourly time frame on EURAUD that I posted recently was formed on a key daily horizontal resistance. Please, note that the price action patterns alone that are formed far from strong supports and resistances will always have a lower winning rate. Also, I applied the chart patterns primarily for day trading and swing trading. The time frames that I used were daily/4h/1h. For scalping, the performance will be different. And the last thing that patterns in chart patterns trading is the direction of the market trend. The price action pattern that indicates a price movement against the trend will always have a lower accuracy than the one the aligns with the trend and give a trend following signal. In the trading setup above, I spotted not only a bullish price action pattern on an hourly time frame but also a strong bullish trend on a daily. Following all these criteria, here are the winning rates of chart patterns that I traded this year. Double top & double bottom pattern get 66% winning rate. That's the example of a perfect double bottom chart pattern for trading. Remember that the fact that the price formed a pattern does not provide a reliable signal, we trade only after a breakout of its neckline and a candle close beyond, that is our strong confirmation. Head & shoulders pattern and its inverted version get 69% winning rate. You can find a valid head and shoulders pattern above. It was formed on a key daily resistance, and the trade was opened strictly after a violation of the neckline. Cup & handle pattern and its inverted version has 67% accuracy this year. That's a very perfect cup and handle that the price formed on a key support. Confirmation is the violation of the horizontal neckline. Bullish and bearish flags get 62% accuracy. Examine the perfect flag pattern on USDJPY. The market is bullish on a daily and trades within a rising channel. The price formed a bullish flag on an hourly, approaching its support. Our signal to buy is the violation of its upper trend line. Rising and falling wedges get 64% accuracy. The rising wedge that the price formed on the chart above perfectly aligns with the up trend on a daily. Horizontal channel - the range achieves 68% winning rate. The horizontal range that the price formed after a breakout of a key daily support and its consequent test was broken to the downside, giving a reliable intraday confirmation signal. The accuracy of ascending and descending triangles gave correct signals in 67% of the trades. We made a nice profit, buying Bitcoin after a breakout of a neckline of the ascending triangle pattern that was formed on a retest recently broken daily resistance that turned into support. Symmetrical triangle got 61% winning chance. The violation of a falling trend line of a symmetrical triangle after a test of a key daily support gave a strong intraday bullish signal. The best and the most accurate trading setups were based on a combination of multiple patterns. It is a situation, when the market forms 2 or even more the-same biased patterns. The trading setup above combines 2 bearish price action patterns on a key daily resistance: rising wedge pattern and descending triangle. Breakouts the trend line and neckline of both patterns gave very accurate bearish signal. Such setups have a winning chance above 70%. The one setup that gave almost 83% winning rate this year was based on a combination of a falling wedge pattern and a cup & handle pattern within. In that setup, you can find not only a falling wedge pattern and its resistance breakout but also a cup & handle pattern that formed within and its neckline violation as well. Always record the results and the entry criteria of your trades. It will help you to identify the most efficient entry signals and the worst ones. I hope that my observations will help you in the next trading year. ❤️Please, support my work with like, thank you!❤️
FOREXCOM:XAUUSDEducation
by VasilyTrader
9
XRP/USDT Bullish Pennat Breakout LoadingXRP/USDT, Bullish Pennant Formation in Progress The chart displays a Bullish Pennant, signaling potential upward momentum. However, the price is currently rejecting near the upper trendline, indicating that the breakout may take some time. Key Insights 1. The pennant structure remains intact, but consolidation might continue before a decisive breakout. 2. Watch for a confirmed breakout above the upper trendline before considering a long trade. 3. Once the breakout occurs, the target range is $2.8 to $3.0. Patience is crucial as the price may test the trendline support or consolidate further before breaking out.
Long
by wolfchemist
10
Learn Best Price Action Patterns For Trend-Following Trading In this educational articles, I will teach you the best price action patterns for Trend-Following Trading Forex. 📍Ascending & Descending Triangles The ascending triangle will be considered to be a trend-following pattern if the impulse leg preceding the formation of the pattern is bullish. The pattern consist of 2 main elements: a horizontal neckline based on the equal highs, a rising trend line based on the higher lows. ❗️The trigger is a bullish breakout of a neckline of the pattern and candle close above. 📈The position is opened on a retest. 🔴Stop loss is lying at least below the level of the last higher low. 🎯Take profit is the next historical resistance. Look at an ascending triangle formation on EURUSD on an hourly time frame. On the left, you can see the structure of the pattern and on the right, the trading plan. 📍The descending triangle will be considered to be a trend-following pattern if the impulse leg preceding the formation of the pattern is bearish. The pattern consist of 2 main elements: a horizontal neckline based on the equal lows, a falling trend line based on the lower highs. ❗️The trigger is a bearish breakout of a neckline of the pattern and candle close below. 📉The position is opened on a retest. 🔴Stop loss is lying at least above the level of the last lower high. 🎯Take profit is the next historical support. Above is a perfect descending triangle pattern that I spotted on GBPUSD on a 4H time frame. 📍Bullish & Bearish Wedges The bullish wedge pattern will be considered to be a trend-following pattern if the impulse leg preceding the formation of the pattern is bullish and the pattern is directed to the downside. The pattern consist of 2 contracting falling trend lines based on the lower lows and lower highs. ❗️The trigger is a bullish breakout of a resistance of the pattern and candle close above. 📈The position is opened on a retest. 🔴Stop loss is lying below the low of the pattern. 🎯Take profit is the high of the pattern. Above is a falling wedge pattern that I found on GBPUSD. The pattern is formed after a strong bullish impulse. A trigger to buy is a bullish breakout of its resistance. —————— The bearish wedge pattern will be considered to be a trend-following pattern if the impulse leg preceding the formation of the pattern is bearish and the pattern is directed to the upside. The pattern consist of 2 contracting rising trend lines based on the higher highs and higher lows. ❗️The trigger is a bearish breakout of a support of the pattern and candle close below. 📉The position is opened on a retest. 🔴Stop loss is lying above the high of the pattern. 🎯Take profit is the low of the pattern. To correctly sell this rising wedge pattern on EURUSD, we should wait for a breakout of its horizontal support and then sell the market on its retest. 📍Bullish & Bearish Flags The bullish flag pattern will be considered to be a trend-following pattern if the impulse leg preceding the formation of the pattern is bullish and the pattern is directed to the downside. The pattern consist of 2 parallel falling trend lines based on the lower lows and lower highs. ❗️The trigger is a bullish breakout of a resistance of the pattern and candle close above. 📈The position is opened on a retest. 🔴Stop loss is lying below the low of the pattern. 🎯Take profit is the high of the pattern. Above, you can see a perfect example of a bullish flag pattern on EURUSD on a 4H time frame and its trading strategy. —————— The bearish flag pattern will be considered to be a trend-following pattern if the impulse leg preceding the formation of the pattern is bearish and the pattern is directed to the upside. The pattern consist of 2 parallel rising trend lines based on the higher highs and higher lows. ❗️The trigger is a bearish breakout of a support of the pattern and candle close below. 📉The position is opened on a retest. 🔴Stop loss is lying above the high of the pattern. 🎯Take profit is the low of the pattern. Above is a bearish flag pattern on GBPUSD and a full plan to sell the market based on it. 📍Bullish & Bearish Symmetrical Triangles The bullish symmetrical triangle will be considered to be a trend-following pattern if the impulse leg preceding the formation of the pattern is bullish. The pattern consist of 2 contracting symmetrical trend lines based on the higher lows and lower highs. ❗️The trigger is a bullish breakout of a resistance of the pattern and candle close above. 📈The position is opened on a retest. 🔴Stop loss is lying at least below the last higher low of the pattern. 🎯Take profit is the high of the pattern. This bullish symmetrical triangle on EURUSD on an hourly time frame is a perfect example of a bullish trend-following pattern. —————— The bearish symmetrical triangle will be considered to be a trend-following pattern if the impulse leg preceding the formation of the pattern is bearish. The pattern consist of 2 contracting symmetrical trend lines based on the higher lows and lower highs. ❗️The trigger is a bearish breakout of a support of the pattern and candle close below. 📉The position is opened on a retest. 🔴Stop loss is lying at least above the last lower high of the pattern. 🎯Take profit is the low of the pattern. On the left chart, you can see a structure of a valid symmetrical triangle. On the right chart, you can see how to trade it properly. The main difficulty related to trading these patterns is their recognition. You should train your eyes to recognize them on a price chart. Once you learn to do that, I guarantee you that you will make tons of money trading them.
Education
by VasilyTrader
11
EURUSD → False breakout of resistance. DowntrendFX:EURUSD is testing resistance in the downtrend phase. The maneuver ends with a false breakout of resistance at 1.067. On the daily timeframe the price is squeezed between the strong resistance at 1.06011 and the local support at 1.05. So, if the bears keep the defense below the key resistance, the currency pair will continue to fall in the short term. The target in this case may be the area of 1.05 - 1.044. But, technically, the retest of 1.067 may provoke a local breakout of the level and the price movement to the channel resistance against which there will also be a high probability of formation of a false breakout. Resistance levels: 1.067, 1.965, 1.076 Support levels: 1.0448, 1.0331 Emphasis on resistance. Confirmation of the nearest resistance in the form of price consolidation below the level, if retested, could be a good entry zone. But if resistance is broken, the focus will shift to 1.065 - 1.067
by MarketAnalyzar
GOLD - there is only single support, hold or not??#GOLD... a perfect move is going on according to our video analysis and as you can see market perfectly hold 2 times 2331 32 and dropped. and our last day supporting area 2321 is still valid guys don't take it easy, TECHNICAL: 2321 is one of the most important on chart in hour and 4 hours chart. in yesterday market perfectly hold it and now again hat is your area, short only below that area with mentioned tp's good luck trade wisely
OANDA:XAUUSD
by AdilHussain731333
XAUUSD CHART ANALYSIS Gold is trading at 2325, with a notable resistance level observed at 2335. Should gold breach this resistance, traders may consider pursuing the following targets: 2343 to 2355. Alternatively, should a sell pattern manifest, indicating a potential downturn, traders may anticipate the following support levels: The initial support rests at 2310, followed by potential targets at 2300 to 2290. This analysis suggests potential trading opportunities based on current market dynamics and key price levels. Traders are advised to monitor these levels closely and adjust their strategies accordingly.(DATED 24/04/2024 )
OANDA:XAUUSD
by Mr_Gushy
1
Technical Analysis Reveals Explosive Gain PotentialWatch out, crypto-enthusiasts! Our latest technical analysis reveals that KAVA could be on the verge of a meteoric rise. The study of the graph demonstrates a remarkable compression zone, often precursor to increased volatility and imminent directional movement. The recent consolidation in the support area, combined with a decline in volumes, suggests a discreet accumulation by informed actors. Such a price squeeze is a classic prelude to a powerful boost. The key indicator here is the underlying resistance. A breakthrough beyond this border could catalyze an impressive rally, with a target projection indicating a potential increase of 145.74%, as denoted by the sky blue rectangle. This setup is not only a signal for traders, but a call to anyone looking to capitalize on the dynamic opportunities offered by cryptos like KAVA. For sophisticated technical analysis, insightful forecasts and real-time trading advice, be sure to follow me. Together, let’s discover the gems of the crypto market
Long
by ATheDay
Seize the Crypto Momentum: Double Bottom Training for a Bright FAn exceptional opportunity looms on the horizon for the JUV cryptocurrency! The chart reveals a perfectly orchestrated Double Bottom formation, marking a potential bull turn. With the two troughs aligned, we hit a sturdy stand, indicating constant buying pressure. The recent rupture of the neck line, accompanied by an increase in volume, confirms the trend. This is the critical moment when previous resistances become supports, paving the way for soaring prices. By applying W amplitude measurements from the neck line, we project bold bullish targets.
Long
by ATheDay
Bitcoin Structure updateThe price is still in Stage 1. Although internal consolidation looks bullish. Volumes are dried up when price pulls back and expansion when price moves up can be seen. The bullish spreads are also getting wider. Some traders will perceive the internal structure as inverted H&S, while some will see it as Cup and Handle pattern. Reminder - We still need a decisive breakout of the Stage 1 Range or neckline. The next major overhead supply turns out to be around $47,000.
BITSTAMP:BTCUSDLong
by nuevatraders
XAU blueprint In accordance to my last publish on the xau Daily time frame analysis, we all agree that the (long term) foresight of the xau market is bullish, all I've done in the 4hour time-frame is highlighting all possible zones of a possible reaction leading to a minor sell. Note that any of those zones highlighted which causes a market reaction resulting in a sell/bearish movement is merely a retracement as the foresight is bullish 👍 Follow me for more updates on the analysis and market turnarounds....
FXOPEN:XAUUSDLong
by Nuelz007