ADAUSD Bull Pennant & Small Pairs PumpImportant things to note:
BTC is taking a breather today, it recently hit the 54K level I have been talking about.
Because of this, altpairs are looking better.
ETHBTC made its first little pump back up.
ETHBTC will lead other altbtc pairs in the push upward.
I believe there is more downside for altpairs.
ETHBTC looks like it has a small bull flag.
ADAUSD is showing a bear pennant signaling more downside.
Set alerts to both trendlines so you know where it breaks.
If it breaks to downside expect a stop at 2.03.
If it breaks to upside, I would expect consolidation.
Important dates:
BTC ETF Deadlines Nov. 21, Dec. 8, Dec. 11 and Dec. 24.
Today was an interesting day. BTC has finally hit the 54k level I was waiting for, but only for a second. Since BTC is slowing down right now, ALTBTC pairs are looking better. Especially ETHBTC. I expected ETHBTC to get a little pump exactly where it is at, however, I did not expect it to produce a bull flag. This may just be a fluke however. The reason this is important is because ETHBTC will lead the charge for the alts when they start moving. So, I watch it very closely. Personally, I expect more downside from alts in general (ADA included). But, if ETHBTC starts moving, things may turn around. When looking at ADAUSD, I see a pretty clear bear pennant signaling more downside. Set you alerts on both of those trendlines so you are aware of the directional change. If ADA moves to the downside I expect it to hit 2.03, and if it moves to the upside, I expect it to start consolidating for upward movement. There is still room for my double bottom on the 1D (I know I have been waiting a couple weeks for it, but it can still happen). Anyways, this was just a short update. All in all, if you want to see where things are headed in terms of alts, just look at ETHBTC. If the bullishness breaks, expect more downside. Personally, I still believe alts will start moving sooner than many people think. That being said, I will continue to watch ADA and update you all accordingly! Thanks again everyone!
I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it.
Tell me what you think?
This is not financial advice. DYODD.
Continuation
ADAUSD Starts the Continuation of UptrendImportant things to note:
BTC is cooling off. I do not see it going much lower.
ADA started its flagging continuation.
Price broke out of last flagging pattern.
ADA created a smaller flag for continuation of uptrend
Price target from smaller flag is 2.59.
This coincides with our last target of 2.62.
We now have a general idea of where the price is headed.
I have noted the hidden divergence I saw.
Important dates:
BTC ETF Deadlines Nov. 21, Dec. 8, Dec. 11 and Dec. 24.
I am going to make this quick because the update is pretty self explanatory. Right now BTC is cooling, but I do not see it going past 53k before it starts moving up again. ADA has broken out of our last pattern with a classic 3 drives pattern and has now created a smaller flagging pattern. The target from the smaller patter is 2.59. This is measured by the size of the pole added to the top of the pole. This target coincides with our last target of 2.62. The target from the smaller flag is 2.59. If the pattern does not break, this is the general area the price is heading to. If the price breaks, it will head towards a support of 2.15 or 2.03 etc. However, since we have bullish momentum and bullish signals, and patterns, we should assume the pattern will complete. I have also noted the hidden divergence I mentioned on my last chart. Remember, try to relax during this time. The momentum of ADA will lag behind BTC, but once BTC hits its ATH and retraces, its time for altcoins to start really moving. For now, expect minimal gains, maybe a small pullback and a lot of consolidation. I will continue to keep an eye on ADA and update you accordingly. Thanks again everyone!
I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it.
Tell me what you think?
This is not financial advice. DYODD.
Wait for a continuation pattern and a selling opportunity GBPUSDH1 time frame.
Structure: Downtrend.
After the price rallied to the confluence between the trendline and the 1.36000 resistance, there was a downside move in the direction of the main trend.
Now, wait for a completed trend continuation price pattern and a sell signal.
The profit target is the 1.34200 zone.
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Wish you all have a good trading day!
XTZ did not breakthrough the uptrend, shows really much strengthXTZ on larger time frame is still focused on completing the broadening wedge, rather than dipping out. In this monday dip every coin seem to break out negatively on the pattern they were busy with, but not XTZ. XTZ went not even out of the uptrend range within the broadening wedge as you can see. Very promising!
Dark Cloud Cover within Bear flag ConsolidationWe have a Bear Flag here and within that Bear Flag we have a Dark Cloud Cover on the daily signaling that Bearish Continuation is more likely. I will be interested to see if the RSI can break below the 50 line as the downtrend continues.
My Take Profit Target will be between the 0.786 and 0.886 retraces below.
AUD/NZD Analysis - Headed UpWelcome back!
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Bulls have finally taken charge and pushed past the 0360 zone. I expect a minor correction and continuation to the upside target.
Be sure to follow the entry criteria rules for your strategy and keep this on your watch list!
- BKH
EUR/GBP Analysis Welcome back!
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If it continues to reject current daily support, we expect it to rise back to previous resistance of 8590 zone.
Be sure to follow the entry criteria rules for your strategy and keep this on your watch list!
- BKH
CHFJPY Short likely• Price has broken out of a bigger channel so there’s a 90% chance of it going to the bottom of structure
• Downward trend with a pullback correction so there’s a high chance of a continuation to the downside
• Price has formed a rising wedge which is a reversal pattern and is currently at the top of structure
• Price is at an area of daily resistance which creates a double top so its likely to push to the down side
NOT FINANCIAL ADVISE.
Candlestick Charts Part 3: ContinuationHello everyone, as we all know the market action discounts everything :)
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NOTE: some pattern could be reversal and continuation patterns depending if its in an uptrend or downtrend.
Today's video will be about the Candlestick Chart : Continuation Patterns.
Continuation Patterns are candlestick patterns that tend to resolve in the same direction as the prevailing trend.
So lets start by talking about the different types of Patterns :
Bullish Continuation Patterns
Bearish Continuation Patterns
And they are divided into 3 groups :
Weak Patterns
Reliable Patterns
Strong Patterns
We Start with the Strong Continuation Patterns :
1) Rising Three Methods :
is a five candlestick bullish continuation pattern. The first candlestick is a large bullish candlestick that takes place during an uptrend. Then a group of two to four small body candlesticks (either bullish or bearish) retreat within the price range established by the first day’s real body bullish candlestick. The final candlestick of the pattern is another large bullish candlestick that closes above the first day’s closing price.
2) Falling Three Methods :
is a five candlestick bearish continuation pattern. The first candlestick is a large bearish candlestick that takes place during a downtrend. Then a group of two to four small body candlesticks (either bullish or bearish) slowly ascend within the price range established by the first day’s real body bearish candlestick. The final candlestick of the pattern is another large bearish candlestick that closes below the first day’s closing price.
3) Deliberation in an uptrend :
A deliberation structure is comprised of three Japanese candlesticks. All three are bullish (green). The first is a candlestick with a small body followed by a large full candlestick. Finally, the last candlestick also has a small body and forms a star.
4) Concealing Baby Swallow in an uptrend :
The Concealing Baby Swallow is a four-line candlestick pattern, which appears so rarely. Two Black Marubozu candles appearing one after the other are very uncommon situation on the candlestick charts what limits the appearance of this pattern.
Now Lets Talk about the Reliable Continuation Patterns :
1) Bullish Separating Lines :
Bullish separating lines pattern is a two-candle bullish continuation candlestick pattern that comes up in the middle of a bullish trend. It indicates that the current bullish trend is about to continue after a temporary pullback.
2) Bearish Separating Lines :
The bearish separating line is known as a bearish continuation pattern. The first line is a white candle that comes up as a long line in a downtrend. The second line is made up of a black candle that comes up as a long line. Both bars will open at the same price, and then the prices are separating.
3) Bullish Matching High :
This pattern involves two or more matching highs. On a lower timeframe chart this pattern will look like a support or resistance being broken.
Breakouts are used by traders a trigger to enter the market with the momentum of the breakout signaling a new leg of a trend.
4) Bearish Matching Low :
This pattern involves two or more matching lows which if broken is a signal that there will be a resumption of the current trend.
5) Upside Tasuki Gap :
It is a bullish continuation candlestick pattern which is formed in an ongoing uptrend.
This candlestick pattern consists of three candles, the first candlestick is a long-bodied bullish candlestick, and the second candlestick is also a bullish candlestick formed after a gap up.
The third candlestick is a bearish candle that closes in the gap formed between these first two bullish candles.
6) Downside Tasuki Gap :
Downside Tasuki Gap is a bearish continuation pattern that forms in the middle of a downtrend. The first candle is bearish, and is followed by a negative gap and another bearish candle. The third candle is bullish and closes right in the gap between the first two bars.
And Last but not least The Weak Continuation Patterns :
1) Advance Block :
The advance block is a three bar pattern. The pattern appears as a block of three white, rising candlesticks, each with a shorter body than the last.
The candles should not have overly long shadows as these can sometimes develop into other pattern types such shooting stars and hanging men.
2) Stick Sandwich :
The stick sandwich candlestick pattern can occur in both bull and bear markets. The stick sandwich candlestick pattern consists of three candlesticks, where one candlestick has an opposite colored candlestick on both sides. The closing prices of the two candlesticks that surround the opposite colored candlestick must be same.
3) Bullish Side by Side White Lines :
– It occurs during an Uptrend; confirmation is required by the candles that follow the Pattern.
– The First Candle is white.
– Then there is a Gap Up between the First and Second Candle.
– The Second and Third Candle are white, their Real Bodies have the same length; moreover they have the Open at the same level (More or less) and is above the Real Body of the First Candle.
4) Bearish Side by Side White Lines :
– It occurs during a Downtrend; confirmation is required by the candles that follow the Pattern.
– The First Candle is black.
– Then there is a Gap Down between the First and Second Candle.
– The Second and Third Candle are white, their Real Bodies have the same length; moreover they have the Open at the same level (More or less) and is below the Real Body of the First Candle.
5) Bullish On Neck Line:
The on neck candlestick is a continuation pattern. In an on neck pattern, the first candle is Bullish and the second one is Bearish. The first candle’s body is long while the second one is shorter. The second candle closes near the first one or close to the first candle. The pattern gets its name because at the point where the closing prices of the two are nearly the same or same, it forms a horizontal line which looks like a neck or a neckline.
6) Bearish On Neck line :
The on neck candlestick is a continuation pattern. In an on neck pattern, the first candle is bearish and the second one is bullish. The first candle’s body is long while the second one is shorter. The second candle closes near the first one or close to the first candle. The pattern gets its name because at the point where the closing prices of the two are nearly the same or same, it forms a horizontal line which looks like a neck or a neckline.
I hope that I was able to help you understand Continuation Patterns in Candlestick Charts better and if you have any more questions don't hesitate to ask.
Hit that like if you found this helpful and check out my other video about the Moving Average, Stochastic oscillator, The Dow Jones Theory, How To Trade Breakouts, The RSI , The MACD , The Bollinger Bands , The Different Types Of Trading Strategies, Candlestick Charts Part 1 & 2 links will be bellow
GBPUSD| HTF Bearish Continuation Correction + Ascending Within The order set on Friday was triggered, holding this one over the weekend. Will be watching tis closely to see if the HTF structure is about to complete and breakout if so, I'll be looking for the Correction after the breakout and that will be the likely scale in.
EU50| Bearish Continuation Correction + CAB Entry :)We've had a short bias for a bit on all indices, this one is very clean and it looks like we finally broke out of the continuation correction to the downside. Now all we want to see is a LTF correction after the breakout which will be our entry to carry the momentum lower.
NZDJPY| HTF Bearish Continuation Correction We had a Triple top when Price failed to continue the bullish momentum after the bullish continuation correction, Now we just had Bearish Continuation correction to continue the reversal momentum. Looking for the LTF correction after the breakout to complete so we can take it to the downside.
BTC pullback incoming!!Bitcoin has rise more then 10% thats a sign that it needs a pullback. Maybe after the pull back continuation but for now its great to try short.
Remember bitcoin likes to make alot of traps to trick people so they have more liquidity of people going long.
dont take it as financial advice just watch out.