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Chartpatterntrading

BTCUSD Pullback to Neckline AccomplishedPrice action pulled back to the dynamic neckline resistance from the major Head and Shoulders in formation. From the chart pattern perspective, this phase can considered a important turn-point, which psychological terms can rise interests for the bearish-side and growth of bearishness of market. In addiction, retroactive Fibonacci retracement potential fractal suggest a 88.6% targe in decline to fill in confluence to the potential double-down correction from this H&S. Classical short setup. In addiction, a strong reaction by buyers HODLers can be expected in a potential bounce from the Anchored VWAP of 2018 low, which is a strong area of interest / equilibrium to fill. If the price breaks-down the demand, a new phase of bearish leg-downwards / collapse can plays-out, which will lead us to a capitulate.
BITSTAMP:BTCUSDShort
by firmestudio
19
Double Bottom on GBP/JPY @ D1The double bottom chart pattern has formed on the daily timeframe chart of GBP/JPY following a downtrend. I will use this formation as a potential bullish entry. The two bottoms are marked on the chart. The neckline is marked with the upper yellow line. My potential entry level is at the cyan line. My potential take-profit level is at the green line. A stop-loss (not shown on the chart) will be set to the low of the breakout candle or to the low of the preceding candle should the breakout one appear mostly outside the pattern's borders. I will ignore a bearish breakout from this bullish pattern.
Long
by AndriyMoraru
1
Ascending Triangle on GBP/CHF @ H4This short-term ascending triangle pattern appears on the H4 chart of GBP/CHF. I am planning to use it for a long breakout opportunity. The triangle's borders are marked with the yellow lines. My potential entry is marked with the cyan line. My potential take-profit level is marked with the green line. The stop-loss is to be set to the triangle's bottom point at 1.13090. I will ignore downside breakouts from this bullish continuation pattern.
Long
by AndriyMoraru
3
Symmetrical Triangle on USD/JPY @ D1The long-term downtrend prevailing on this currency pair has consolidated in the form of a symmetrical triangle. It can now be used as a continuation pattern for a bearish breakout trading opportunity. My potential entry will be placed at the cyan line, which is located at 10% of the triangle's base width below the lower border. My take-profit will be at the green line, which is located at 100% of the triangle's base width below the lower border. I will set my stop-loss to the triangle's upper apex (134.767).
Short
by AndriyMoraru
1
📊 Chart Patterns Cheat SheetPatterns are the distinctive formations created by the movements of security prices on a chart and are the foundation of technical analysis. A pattern is identified by a line connecting common price points, such as closing prices or highs or lows, during a specific period. Technical analysts seek to identify patterns to anticipate the future direction of a security’s price. These patterns can be as simple as trendlines and as complex as double head-and-shoulders formations. 🔹 Reversal patterns are those chart formations that signal that the ongoing trend is about to change course. If a reversal chart pattern forms during an uptrend, it hints that the trend will reverse and that the price will head down soon. Conversely, if a reversal chart pattern is seen during a downtrend, it suggests that the price will move up later on. 🔹 Continuation chart patterns are those chart formations that signal that the ongoing trend will resume. Usually, these are also known as consolidation patterns because they show how buyers or sellers take a quick break before moving further in the same direction as the prior trend. Trends don’t usually move in a straight line higher or lower. They pause and move sideways, “correct” lower or higher, and then regain momentum to continue the overall trend. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
7
Short-term Bullish Breakout attemptTSLA broke out of the falling channel with back test today-and could be attempting a 16% measured move up to fill the gap around $137. *There will be resistance between 124-128. If..IF Markets maintain bullishness we could see Tsla Move Towards $161-168 area, which coincides with: ~ Previous Support + 200WMA + 0.618 Golden Fibonacci Retracement, before moving back down to complete accumulation bottoming pattern. Data to keep in mind: THURSDAY: **CPI data expectations where just changed this morning - expectations of -0.1 instead of 0.0 JAN 23rd. *Earnings expectations are bearish Protection Ideas: if bullish pattern plays out - sell Early Feb $140 Calls to protect position Pattern Failure: Close Below $108 (you could set a stop loss at $117 - Tsla may want to fill gap at $114 first or test 110 area *** I do not believe the Markets are primed for THE Bull run yet (soon.. not yet) ... New Lowes are coming in Feb. Just an opinion.. Good luck & let me know what you think or if you have any good trade set-ups you want to share or discuss.
NASDAQ:TSLALong
by Black_Sheep1
1
Bull run price projection end, based on Adam and Eve formation This is just a quick calculation I did on the Adam and Even formation that has driven the latest bull run, the Adam and Eve pattern has high success rates especially if it is wide and deep. For pattern dependent traders the important thing to note is that the measured move for the Adam and Even pattern has been completed, and a pullback should be in by now. Notice how the yellow line "measured move end" aligns perfectly with a major R level, patterns are just a great way to trade when done properly. Don't forget your risk management! If you like this idea then do support it with like and follow. Also, share your views in the comment section. Thank You!
by theChartGuru
2
🔠 The ABCD PatternThe ABCD is a basic harmonic pattern. All other patterns derive from it. The pattern consists of 3 price swings. The lines AB and CD are called “legs”, while the line BC is referred to as a correction or a retracement. AB and CD tend to have approximately the same size. A bullish ABCD pattern follows a downtrend and means that a reversal to the upside is likely. A bearish ABCD pattern is formed after an uptrend and signals a potential bearish reversal at a certain level. The rules for trading bullish and bearish ABCD patterns are the same, you will just need to take into account the direction of the pattern you trade and the movement of the market it predicts. 🔷Classic ABCD The point C should be at 61.8%-78.6% of AB. The point D, in its turn, should be at the 127.2%-161.8% Fibonacci expansion of BC. Notice that a 61.8% retracement at the point C tends to result in the 161.8% projection of BC, while a 78.6% retracement at the C point will lead to the 127% projection. 🔷AB = CD Here CD has exactly the same length as AB. In addition, it takes the market the equal time to travel from A to B as from C to D. As a Result, AB and CD have the same angle. This type of ABCD pattern is seen quite often and is popular among traders. 🔷ABCD Extension ABCD extension refers to when CD is the 127.2%-161.8% extension of AB. CD can be even 2 times (or more) bigger than AB. There actually are some signs that can hint that CD will be much longer than AB. They are a gap after point C or big candlesticks near point C. 📊Trading with ABCD pattern The key thing you should remember is that you can enter the trade only after the price reached the point D. Study the chart looking at the price’s highs and lows. It may be helpful to use ZigZag indicator (Insert – Indicators – Custom – ZigZag) that marks the chart’s swings. Watch the price as it forms AB and BC. In a bullish ABCD, C must be lower than A and should be the intermediate high after the low at B. Point D must be a new low below B. When the market arrives at a point, where D may be situated, don’t rush into a trade. Use some techniques to make sure that the price reversed up (or down if it’s a bearish ABCD). The best scenario is a reversal candlestick pattern. A buy order may be set at or above the high of the candle at point D. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
2
Bull Flag trading Long Silver HUGE MOVEAll details are on the chart. This is the weekly chart for Silver. From left to right, you can see that Silver consolidated for 2.5 years before it started the big move Upwards in 2019. Price dip in March 2020 with COVID as everything else then it recovered to make a HUGE MOVE to ATH (ALL TIME HIGH) of ~79000. Since then, Price has been consolidating in a Channel for ~2 years now and it has a beautiful Bull Flag Pattern that has formed. You can see in the round green circles i drew in the top of the channel that price has already tested that area 4 times. From my experience, the more a Resistance or Support is tested, the weaker it gets. All eyes are on a Recession for 2023 and in all Recessions, metals goes up big time. Unless some external forces save us from Inflation and Recession, history will repeat. If we look into the charts, the pattern also tells the same thing. Bull Flags are 67% accurate when they break to the upside so as for possible Targets, you can see that Target 1 is half way the distance of the Flag pole which also coincides with the width of the Parallel Channel. That is a great Target 1. Target 2 will be the move of the Bull Flag which is a measured moved and it goes the same distance of the Flag Pole. Happy trading. As always, comments, likes are welcome. thx.
MCX:SILVER1!Long
by ppatrading101
H&S Bottom: Double Bust (ETH)The inverted head and shoulders pattern failed . All is well, as we have Thomas Bulkowski's history of patterns & statistical setups to guide us along together. Ethereum has already invalidated the single bust . It is time to explore the Double Bust IH&S chart pattern, & look for these elements: Price must confirm the head-and-shoulders bottom by closing above the neckline or right armpit (A). Price rises no more than 10% before reversing. Price closes below the bottom of the chart pattern (B). This busts the pattern for the first time. Price drops no more than 10% below the bottom of the head-and-shoulders bottom. Price closes above the top of the head-and-shoulders bottom. This busts the chart pattern for the second time (C). The stock rises more than 10% above the top of the head-and-shoulders bottom. A double busted head-and-shoulders bottom turns into a triple bust when the rise after the second bust is no more than 10% and price then closes below the bottom of the chart pattern. Busted Inverted Head-and-Shoulders Historical Performance : 16% of head-and-shoulders bottoms will bust Of those that bust...47% will single bust 36% will double bust 17% of them will triple bust Single busted patterns will see price drop 22% on average (invalidated) Non-busted head-and-shoulders bottoms (that is, head-and-shoulders tops) will see price drop by 16% on average If you have related analysis please be sure to share so we can learn together! Confirmation of Single Bust Invalidation: Price must confirm the head-and-shoulders bottom by closing above the neckline (down sloping necklines) or above the right armpit. That occurs at (A) in the figure above. Price must rise no more than 10% above the neckline. Price then closes below the bottom of the head-and-shoulders bottom (B). Price continues dropping more than 10% without closing above the top of the head-and-shoulders.
BITSTAMP:ETHUSDLong
by ZenMode
8
SPX: Imminent Crash! Next Key Points to Watch.• The SPX reversed the short-term bull trend, as it lost our 21 ema in the 1h chart, failing in breaking the previous top (it did a Double Top chart pattern around the 4k); • In addition, it lost the support we mentioned yesterday, at 3,950, indicating a sharp correction – maybe even an overreaction; • Either way, the 3,950 is a new resistance on SPX, according to the Principle of Polarity; • Now, it seems the index is heading to the 21 ema in the daily chart, as I mentioned yesterday (link to my previous public analysis is below this post, as usual); • What’s more, it triggered our Shooting Star candlestick pattern, which reinforces the bearish sentiment, at least for now; • Let’s pay attention on how it’ll react around the 21 ema in the daily chart. Remember to follow me to keep in touch with my daily analyses!
SP:SPX
by Nathan_The_Finance_Hydra
6