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GBPNZD > Bearish Bat Pattern, Good for A Sell..Analysis of #GBPNZD Hi traders, today we will have a look at #GBPNZD The GBPNZD has been moving sideways for a while now, and when the market moves like that, my favorite way of taking them is using harmonic patterns. looking at my chart you can see I have a bearish harmonic bat pattern that might complete the D leg soon near key market level 1.9400, which I like to see. Entry would be either a limit order at D leg completion or waiting for conservative entry at the structure resistance zone, getting confirmation the market turning bearish, then entering sell trade I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one Thanks for your continued support!
Short
by TheTradersAvenue
30
AUDUSD >Advanced Analysis for Buy Entry!!Analysis of #AUDUSD Hi traders, today we will have a look at #AUDUSD The AUDUSD might be in corrective waves before resuming a move to the upside, while I am no expert in Elliott wave theory, I have some basic knowledge of the waves. the market might continue correctly downward to complete the ABC correction wave, the best move would be if the market corrects to complete an equal move to the downside near 0.6600, which is Fib 1 Extension. if the market drops further to my zone I will look for a reversal pattern on the lower time frame to get in a buy trade in anticipation of a further move to the upside I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one Thanks for your continued support!
Long
by TheTradersAvenue
23
GBPUSD > Strong Buy Signal Might Be Coming Soon!!Analysis of #GBPUSD Hi traders, today we will have a look at #GBPUSD GBPUSD following my previous analysis of GBPUSD I am still looking for a buy in this market if the market drops further to the downside. as you can see we have a trendline support level, also FIB 1.618 inversing, and FIB 0.786 retracement all lining up near critical market level 1.2000 which will make an excellent level to look for a buy entry if the market test this zone I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one Thanks for your continued support!
Long
by TheTradersAvenue
6
$TSLA - IS IT H&S OR A BULL FLAG?Hi All, TESLA is possibly forming a bull flag or in the process of forming an inverse H&S pattern on H4. If it is the bull flag pattern, would expect a move to orange target line (around $214) after the break out. If it is inverse H&S pattern, would expect a move to target 2 (about $240) which coincides with 0.5 FIB level if this setup plays out. Would wait until neckline breaks after a pull back to get into a position & sell about 30% of the position at target 1 to secure some profit. Target 3 is far overreach but still possible due to the prospect of a gap fill before next leg down. A strong price movement above neckline or a move below $166 would invalidate inverse H&S setup. J Powell seemed less hawkish than his previous appearances & the year end rally for exec bonuses might make these plays possible. Considering these set ups as short term trade opportunities but have a bearish outlook for mid to long term. * This is NOT a financial advice. Please do your own DD. Thank you for your time and support.
NASDAQ:TSLA
by BlokBox
🟨 Cup and Handle Pattern - cheat sheetWhat is the Cup and Handle Pattern? One of the most important chart patterns in the stock market is the Cup and Handle Pattern, invented by William O’Neill. Sometimes you might see it abbreviated as CWH. It also holds the crowd proclaimed title as one of the most profitable and reliable breakout patterns. The Cup and Handle Pattern forms as a bullish continuation pattern that can be found during strong trend. –––––––––––––––––––––––––––––––––––– Is Cup and Handle Pattern Bullish? William O'Neil cup and handle patterns represent bullish continuation patterns that mark consolidation periods which are followed by breakouts. This pattern includes two components: cup and handle . After advancing, this cup is formed in a bowl shape or with a rounded bottom. Handle forms in the upper third of the cup. –––––––––––––––––––––––––––––––––––– Stages of a Cup and Handle Pattern Formation Stage 1 Setup: The pattern starts when a price raises from a former base, making the prior trend a bullish trend. At some the profit taking starts taking place and the stock begins the decline, forming the high of the cup. The high of the cup is also called the ‘Left Cup’ Stage 2: Decline: The stock starts to form a new base. It is normal to see above average volume at the beginning of the decline. The volume element is important since it ensures that later buyers to the party are out of the stock and do not provide an overhead supply. By the end of Stage 2 the volume would have fallen below average. This low trading volume is combined with price consolidation around the low of the cup. Stage 3 Recovery: The stock starts to recover and the volume on up days starts to pick up. This indicates that institutions are taking interest in the stock. Pro tip: look for low volume on down days. Now we still have a few more types of players into the stock: the bottom fishers who bought in at the low of the cup and the bag holders who have bought at the high of the cup and have been sitting on a loss. As the stock price moves up, these would partially close their positions making the recovery process a stair stepping process rather than a V shaped recovery. As the price reaches close to the High of the cup, the last bag-holders will cut their losses and will create a large volume sell-off. At this point the “Pivot” is formed or the “High of the Handle”. Stage 4 Consolidation: After the High of the handle, the price is likely to continue its handle formation. The handle pattern occurs as there are still weak hands in the ticker. A shakeout preferably on higher volume is considered a bullish continuation in the cup and handle pattern formation . This indicates that all overhead supply is depleted. The point when the price starts to climb again and reaches the high of the handle is the breakout point. We will look for a to price breaks on higher volume to indicate that institutions have taken control of the stock and that the sky is clear to move upwards. A rule of thumb is to look for a price target with the same value as the prior advance from previous base as the one subsequent to Stage 1. –––––––––––––––––––––––––––––––––––– Hope this helps! Example of Cup and Handle on AAPL from 2003
Education
by TintinTrading
1
#GBPNZD selling opportunityPrice has been trapped in a rangy market for quite some time, but as it can be seen finally managed to break the consolidation area to the downside which means more downside move can be followed. this kind of formation base on DOW theory area called line formation and by the way they are considered as very important when they break to the one side. As it can be seen we are already in down trend and breakout of the range area from below shows that a trend may potentially resume. But also it should be in mind that the breakout can always turn to be fake signals and also price can still come higher and take out liquidity from above too. But for now and to keep things simple we need to be looking at the nearest resistance area to the price which is a structure point, because it used to provide support for price before and now that price broke this area to the down it could provide resistance. and as you can see price already came back to this area once and rejected from. Now and in the second try if price reject to the downside from this area after a liquidation you can say that this area would hold and selling is an option.
Short
by mohemati
USDJPY > Selling Dollars Is the New Game Now!!Analysis of #USDJPY Hi traders, today we will have a look at #USDJPY The USDJPY is unwinding the move up from this year and we can expect the DXY to continue down, the game now is selling dollars before others lol. I am now looking for as well 137.00 because we have trend line resistance lining up with previous structure support no becomes resistant level and FIB 61 golden level. I don't believe we could see this entry coming in because there is big money involved in this market and when they start dumping they don't stop or give you a chance to get in, but as you know we have NFP news today and anything can happen. I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one Thanks for your continued support!
Short
by TheTradersAvenue
23
USDCAD > Confirmed Bearish HS, Looking for Short EntryAnalysis of #USDCAD Hi traders, today we will have a look at #USDCAD The USDCAD formed a confirmed bearish head and shoulder pattern, for me this is a valid reversal head and shoulder pattern ;), since we have a confirmed break out of the neckline I am only looking for a sell entry now. As you can see on my chart, i am looking to sell at the right shoulder level where i have fib 38 golden levels, also key market level 1.3500 sharp, all will make a good level to start looking for a sell entry I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one Thanks for your continued support!
Short
by TheTradersAvenue
22
AUDUSD > Straightforward Traditional Triangle Pattern!!Analysis of #AUDUSD Hi traders, today we will have a look at #AUDUSD The AUDUSD is similar o my previous idea on EURUSD a straightforward traditional triangle pattern with confirmation, as we have broken the trendline resistance and now started to move back down. you can drop a one-time frame and look for a reversal pattern at resistance to see if other trades are also looking for what you are looking for, and if there is interest in buying it back. if the maker doesn't provide a reason to get in at trend line resistance, usually what will happen is the market will drop to make another test of trend line support, which will make a good buy entry to target 0.6900 I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one Thanks for your continued support!
by TheTradersAvenue
26
EURUSD > Possible Continuation to The Upside!!Analysis of #EURUSD Hi traders, today we will have a look at #EURUSD The EURUSD forming a simple classic triangle pattern which usually indicates more upside coming might be triggered tomorrow by NFP news. The market so far failed to close above trendline resistance and might be coming down for another test of the trendline support level near 1.0400-1.0350 which is where i will look for abuy entry if the rules for entry are met, usually, breakout patterns have high hit rate, that's why i will be keeping a close eye on this pattern. I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one Thanks for your continued support!
Long
by TheTradersAvenue
19
GBPUSD > Looking for A Buy and Here Is Why!?Analysis of #GBPUSD Hi traders, today we will have a look at #GBPUSD The GBPUSD moved to the side with strong momentum today, at its highest was up almost 1.80% or 1.2300, just not too while ado the GBPUSD was 1.0300 and trees were expecting parity. The trend is to the upside and you now saying the trend is your friend, so in this market, we better be looking for buy entries only. As you can see from my chart we have clearly defined trend line support, and we also have a clear support zone. The first level to look for a buy entry is near the structure support zone near 1.21500, looking for a reversal pattern near this level, such as double bottom or head and shoulders, if you want to be aggressive you can look reversal candle pattern, or we might get a harmonic pattern and use as an entry. The second level to look for a buy is at trendline support, we can follow the rules from the first entry to the second entry as well, looking for reversal patterns trendline support, or harmonic patterns I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one Thanks for your continued support!
by TheTradersAvenue
13
#Head&Shoulder chart pattern in action Head and shoulder definition: A simple head and shoulders top formation is characterized by a peak representing the left shoulder, followed by a higher peak which is referred to as the head of the formation. A lower peak representing the right shoulder is found on the right‐hand side of the head. The head should be the highest peak in the formation. The neckline is a trendline that connects the troughs that lie on either side of the head. Necklines may be horizontal or inclined which in our case is inclined. In an inverted head and shoulders formation (also referred to as a head and shoulders bottom), the head is the lowest trough within the formation. Head and shoulder pattern completion: The head and shoulders formation is completed with a valid breakout of the neckline Until a valid penetration has occurred, the formation is regarded as merely tentative. But as you can see in our case the pattern is completed since we can see upside breakout of the chart pattern neckline. Head and shoulder pattern target: The minimum one‐to‐one price objective or target for a head and shoulders top formation is simply the vertical distance between the head and the neckline projected downward from the neckline breakout level. For an inverted head and shoulders formation, the vertical distance is projected upward from the neckline breakout level. You can see this vertical line in the chart. Head and shoulder pattern entry: ■■ Short at a break of the right shoulder’s uptrend line with a stop placed above the right shoulder or head (see Point 1 in Figure 13.9) ■■ Short at the peak of the right shoulder with a stop placed above the right shoulder or head, especially when there is a significant resistive confluence comprising of significant Fibonacci retracement levels, Floor Trader’s Pivot Point levels, and psychologically important price levels associated with double and triple zeros ■■ Short at the right shoulder when it is testing the left shoulder’s resistance level, with a stop placed above the resistance level or head ■■ Short on a valid penetration of the neckline with a stop placed above the neckline, right shoulder, or head (see Point 2 in Figure 13.9) ■■ Short on a retest of the neckline after a valid penetration with a stop placed above the neckline, right shoulder, or head (see Point 3 in Figure 13.9) ■■ Short on the penetration of the price associated with the trough created by the retest action, with a stop placed above the trough, neckline, right shoulder, or head (see Point 4 in Figure 13.9) i.postimg.cc Source: the handbook of technical analysis by Mark Andrew Lim
FX:JPYBASKETEducation
by mohemati
NZDCAD > How to Use FIB for Classic Trendline Entry!!Analysis of #NZDCAD Hi traders, today we will have a look at #NZDCAD The NZDCAD has a similar setup to my AUDCAD idea as you see we have a perfectly clear uptrend, and clearly defined trendline support. the market has previously a strong resistance level which the market broke and move to the upside, the market now is expected to continue up, and we can look for trend continuation patterns such as channels or triangles, wedges or flags, the market, in fact, might e forming a channel pattern now, but you need to be careful that it's not a double-top pattern, for that wait for confirmation first. if however, the market dropped to test its trendline support, and previous structure support zone, which is also FIB golden ratio 0.618, which is perfect for me, to start looking for a buy. I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one Thanks for your continued support!
Long
by TheTradersAvenue
21
AUDCAD > What Is He best Place for A Buy!!Analysis of #AUDCAD Hi traders, today we will have a look at #AUDCAD The AUDCAD also broke out of its resistance structure level as you can see, and the perfect way of trading now is to look for a trend continuation pattern such as a Flag pattern, or wedge pattern, Triangle pattern, or wait for the market to come and test the previous structure support now becomes a resistance level I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one Thanks for your continued support!
Long
by TheTradersAvenue
22
USDCAD > The Best 2 Places for High Quality Buy!!Analysis of #USDCAD Hi traders, today we will have a look at #USDCAD The USDCAD might be providing a buy entry at previous structure support soon, we can wait for a reversal pattern like the double bottom on the lower time frame to use as a reason to get in a buy entry. if the market doesn't provide a reason to get in buy at the first level, I will still be looking for a buy entry near trendline supports you can see on my chart, the same thing we can wait for the double bottom at trendline support that meets the rules before getting in a buy trade Personally, i prefer to buy at the send place, but i will see what the market provides. I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one Thanks for your continued support!
Long
by TheTradersAvenue
10
AUDUSD > Perfect Setup for Buy Entry!!Analysis of #AUDUSD Hi traders, today we will have a look at #AUDUSD The AUDUSD might be forming a perfect setup for a buy entry, as you can see we have an uptrend, and now the market might be coming to test its trendline support, near 0.6450. Also, we have a possible bullish harmonic bat pattern that might complete the D leg also near my trendline support, which is one of my favorite ways to use harmonic patterns. as you can see if the market comes to test trendline support it will complete the D leg for my Bat pattern, which will be a very good reason to enter buy trade if the rules are met I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one Thanks for your continued support!
Long
by TheTradersAvenue
10
EURUSD > Double top, might see further move downAnalysis of #EURUSD Hi traders, today we will have a look at #EURUSD The EURUSD yesterday tried to break out to the upside only to fail and close back below the previous structure high, and not we can consider this a double top. now I expect the market to keep moving down as explained in my previous analysis to test its key market support level near 1.0100, which will be an excellent level to buy if the market reaches this level I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one Thanks for your continued support!
Short
by TheTradersAvenue
29