SFET about to make a decisive move On the weekly chart: After completing a large cup shape, SFET has been consolidating into a wedge/triangle pattern. A potential breakout was achieved on the wedge, and a curved backtest is underway near 1,20. A broader triangle may also exist, and the action would be nearing completion of that as well. Looking for a rebound off the 1,20 area and a weekly candle close above 1,39 for breakout continuation. Lots of bullish news has been coming out of this one lately, with one PR release accompanying a very large volume spike in April.
Continuation
Why i think the bullish sycle is still intact! Hello there, this idea is more looking on the mid to long term analysis and why i think bitcoin is not done yet with his sycle
First of all its important to understand what a bullish sycle remains bullish even though we dropped over 50% in stock terms you would consider -20%+ to be the end of a sycle but as we all know 20%+ changes are the usual thing in crypto especialy on alts.
the second key of a bullish sycle is your up trend channel wich is shown as the purple line here
i do like to share this idea simply becuase this can be a great buy oppertunity with a very good risk reward that potentialy can play out here
either way even so if this will not play out i still think considering stoch being very low on daily and weekly even lower and has not been low since the 2018 bear market would be considered a good buy oppertunity anyway.
that being said we can see that the last touch around 10k triggered a period of buyers that led all the way up to 60k, a x6 times basicly, now dont get exited i dont think we will x6 and there are alot of other factors we need to account for like the ma200 daily, and not to mention resistance zones that are crucial to break out of before we really have a good foundation of a bullish sycle continuation
in my last idea about a wyckoff accumulation pattern is still at play as we havent made any lower highs then the spring and test zone, see my idea, keep in mind that subwaves are indicational and doesnt nessesary have to be followed aslong its holding the key requirements of the specific phases
the reason i am saying that is becuase it supports the idea i released now and aling very well with eich other
thanks for reading and if you liked it please dont hesitate to follow me and throw me a like! ;)
US100 Analysis: Week 7/12/21 - 7/16/21 My overall medium term bias for the market is bullish. Right now I'm seeing any dips as opportunities to buy.
Technically we're in a strong uptrend and we just had a healthy pullback. I see it breaking even further to the upside after a small retracement.
News I'm watching out for. (all pairs)
- Comments about the timeline of interest rate hikes.
- Comments about quantitative easing (tapering or not).
- Keep an eye on the opec+ spat. Watch for tapering of production cuts. Watch for oil demand projections returning to pre-pandemic levels earlier than expected.
- Any news about vaccines being ineffective against new variants of the virus.
- News about more lockdowns due to virus variants.
GL Traders!
"You don’t need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ." - Warren Buffett
Chance to Go Long at USDCAD's Next Dip The pair appears to be developing a massive 1-5 impulse wave pattern, as postulated by the Elliott Wave Theory.
The current correction could potentially bottom out around the 38.2 per cent Fibonacci retracement level at 1.23670 before the bullish momentum is resumed.
BITCOIN - It's Going As ExpectedHello everyone, rouzwelt here
Well as you can clearly see in the chart, price is now reached to the lower side of the uprising yellow channel and is about to break below it, if you have been following me lately, you know that I've been talking about a potential test of the crossing point of the blue down-trend line and lower side of the uprising yellow channel in my post on June 30 (Link: ), this way it would be testing these 2 potential dynamic supports at the same time. But it's worth mentioning that we still have not fully broken below it, I believe we still need more confirmations before entering a short trade, and 2 good enough confirmations for us would be candle body close below those 2 lines in 4H or daily timeframe and also a new lower low below the last swing low (red dotted line). In that case I'll be entering on my short trade which I've been talking about lately.
Below is a screenshot of my very last post, in which I was talking about my short trade setup idea at the break out of the yellow channel, and I've been projecting the probable price actions and right now as you can see it is playing out with good accuracy as I've been expecting. I also mentioned the lack of volume and demand at rallies up which is a crucial necessity of a sustainable uprise. But what we actually are seeing at this moment in the main chart is increase in volume at the current rally down, which is an indication of more supply coming in on these levels.
So with all those said above, I'll be waiting for those confirmations I mentioned before entering my short trade, as I said earlier we still have not fully invalidated the yellow channel, so we need to wait a few more hours before jumping in on a trade, because before seeing any of those confirmations, price can still get back inside the yellow channel and continue its move up, so we don't want to enter on any trade blindly.
I'd like to remind you to please check my last 2 posts on Bitcoin, because you can find the details of my short trade setup idea (entry point, SL, TP and ...) in full if you'd like to enter on this trade along with me, as they are important considerations before entering any trade. I'll be updating this post whenever I open my position. And please If you find this post useful then support me by hitting like, share and comment below if have any opinion about it, I'd appreciate it a lot.
And as always have fun and trade safe.
CARS looking very bullish with very strong support!Hi Traders! This is our analysis for CARS, the chart looks very simple but very bullish!
- Price is currently located on a long term trend line (Yellow) which is working as a very strong support.
- Also backed by medium term trend support (purple).
- 100MA support + horizontal support.
- RSI is 45, in the past year RSI bounced of 40 level 7 times.
- Ichimoku indicating that we are in a very strong uptrend.
This stock is currently backed by 4 times of support indicating that the probability of bouncing up and testing the next resistance high. Also, the 1 year high has been tested once already, a retest is very likely when the price is backed by such strong support!
Entry at 13,50
Target at 15,37 slightly below the 1 year high for a 14% gain-
SL at 13,00
Why is #MATIC not breaking free from #bitcoin?? considering the chart, the circled part was a false break-out which created SWING LOW from the Previous SWING HIGH, CORRECTION of 50% completed with a CONTINUATION which broke the 0.00% SUPPORT LEVEL of the Swing Low, a RETEST to the TRENDLINE now acting as a Resistance then a continuation which created he recent Bottom Valid Trend and an Asymmetric channel up. Price broke through the Major Resistance trendline an is currently creating a CONSOLIDATION at CROSS SECTION of TWO MAJOR TRENDLINE and a Minor Resistance Zone. A break above the Resistance Zone and the trendline acting as CURRENT RESISTANCE, gives us a valid LONG POSITION.
EUR 1H short tradeAfter the upward bias on the 1H EUR now seems to break down again to continue to the downside. Sell @ 1.1910 SL 1.1930 target 1.1850
Anticipated BREAK OUT below the ZONE AREABefore I proceed with my view on this chart, I want to believe as a trader you already know the importance of 200 EMA acting as a Dynamic Resistance and Support, we have seen a break-out below the 200 EMA and a steady consolidation just above the SUPPORT ZONE AREA from January, a rejection at the Dynamic Resistance. We saw that price did range for some days before the BREAK-OUT to the Down-Side and a retest which created a Bearish Engulfing. At this point we are expecting a clear BREAK-OUT below the ZONE AREA and if that's achieved and a possibly we see a retest, a continuation will give a valid entry and a target at 19150.96.
NOTE: As a trader, by now you should already know that consolidation at SUPPORT or RESISTANCE AREA, a strong BREAK-OUT below or above gives a valid entry.
DXY - Head & Shoulders Entry in Bullish Flag Pattern Hey guys, bigger picture here on the DXY we have just violated an inside level of structure which allows me to make the prediction that price is likely to continue higher to our next higher level of previous structure resistance. Recently we've seen a little relief in the market in the form of a bullish flag pattern.
Currently at the lower end of this flag pattern we're forming a head & shoulders bottom pattern which can be used as a setup in it's own right or as an entry reason into the bigger flag pattern setup.
Your Trading Coach - Akil
What is a Cup and Handle Pattern? GBP/USD Real ExampleGood morning, traders! Today we will make an educational post about a specific behavior in the market in certain circumstances, and we wanted to take advantage of the situation in GBP/USD that is currently happening.
The pattern we are talking about is the CUP AND HANDLE PATTERN . This pattern is widely used in stocks or indices since they are trend instruments by their essence, and it serves to catch a potential rise in price after a correction. The premise for this pattern to be valid is that the asset is in a CLEAR trend, either bullish or bearish, and has initiated a corrective process.
A cup and handle is a technical chart pattern that resembles a cup and handle where the cup is in the shape of a "u," and the handle has a slight downward drift.
There are three key things to consider when forming these patterns:
🔸Length: Generally, cups with longer and more "U" shaped bottoms provide a stronger signal (this case). Avoid cups with sharp "V" bottoms.
🔸Depth: Ideally, the cup should not be overly deep. Avoid overly deep handles, as handles should form in the top half of the cup pattern.
🔸Volume: Volume should decrease as prices decline and remain lower than average in the bowl base; it should then increase when the stock begins to make its move higher, back up to test the previous high.
🔸In addition, it is also an important factor that the handle is a clear corrective pattern and has some point of support or support. In this situation, we see that in the daily chart, the price is touching the uptrend line, and also in the published chart, we see how it is also testing the broken zone of the range. The current reversal point is solid.
USDCHF Continuation, LongGood morning ladies & gents,
Following on from my USDCHF idea last week that has destroyed TP 1, I'm now anticipating continuations long for another day. I'd anticipate a repricing on Tuesday/Wednesday downwards, but for now, DXY should be strong.
In light of this, I've taken an entry here off the M30 +OB anticipating price to hit the high of the day then take the next high lying above.
Let's see how it plays out.
RR 1:5 on the table.
Partials will be taken @ the following points I've highlighted.
As it's Monday, I'll be employing significantly lower risk as statistically this is my LEAST profitable day where I tend to avoid trading - unless a pristine setup forms like so.
Good luck.
- AmplaFX
Dow Jones continuation patternAfter a strong bullish impulse on 20 May ,Dow pulled back from the Predominant bullish trend towards the Closing Bell and Asian session opening , and had a convergence of the support and resistance levels ,forming a Bullish Wedge pattern with a break-out level @ Price 34175 .
DVN uptrend - What to expectI took some time this morning to go over the chart for Devon Energy. It looks like there is a lot of room for potential. 35 Analysts say 86% BUY. Trend continuity is in perptual uptrend. There's a steady diagonal line there. Earnings report coming up in July. There are some good short squeeze positions at the pinnacle of those bounces as well however if you buy now and hold until the end of the year there is a good potential for gains at just under 50%.
EURUSD > Possible Break and Continuatio to The Upside!!Analysis on #EURUSD
Hello friends.
The EURUSD made falls break to the downside last week and hit so many Stop losses, only to go back and closes where it was, as you can see now we have a possible head and shoulder pattern forming at the structure.
A break and close above the neckline will open the door for us to go and test the high near 1.2265
if this setup delivered value to you, like and comment
Check today analysis below⠀
>>It’s not what we do once in a while that shapes our lives. It’s what we do consistently.
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-Disclaimer: This information is not a recommendation to BUY or SELL. It is to be used for educational purposes only⠀
-Please note this is just a PREDICTION and I have no reason to act on it and neither should you
USDJPY 109.821 + 0.06 % SHORT IDEA PRICE ACTION & STRUCUTREHELLO EVERYONE
HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE IN THE MARKET THIS WEEK, HERE'S A LOOK AT THE USD /JPY .
* follow your entry rules on entries
* significant moves with the bears change the plan.
lets see how it goes.
many stars must align with the plan before executing the trade, kindly follow your rules.
HAPPY TRADING EVERYONE & LET YOUR WINS RUN...
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ENTRY & SL - FOLLOW YOUR RULES
RISK-MANAGEMENT
PERIOD - SWING TRADE
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If this idea helps with your trading plan kindly leave a like definitely appreciate it.
Ascending Structure + Bear Flag continuation after the Breakout.With how Market closed, it looks like we may finally get sellers commitment this coming week, What I'm looking for is for a lower timeframe tight flag to continue the downtrend, if Price shoots up to test the high one more time I might opt for a breakout entry of the larger flag, my stop loss will be larger but I'm fine with it as we broke out of the larger ascending channel therefore the risk is worth it.
NAS100 REVERSAL OR CONTINUATIONYesterdays analysis was a total flop. A couple of guys commented and pointed out the M formation which I should have incorporated into my analysis. While my analysis was wrong, I was luckily able to catch the drop and make some decent profits. Part of growing as a trader is being able to admit when you're wrong and owning it instead of being arrogant and only showing off the winning days. Hopefully onwards and upwards from here. For today I've marked possible areas for a reversal (between 13007 - 12960) and then areas where price may head in the case of a break of the trendline. Good luck to everyone for today ✌🏼
Detail Look into Parallel Channel In Price Action Analysis
Hello everyone:
Let's take another detailed look into some parallel channels structures/patterns in price action analysis.
Recall my previous educational video on Ascending/descending channel correction, they are higher probability reversal price action structures/patterns.
Today I want to go over the horizontal parallel channel structures/patterns as well where they are more neutral,
more advanced to analyze and forecast the potential direction of the impulse phase following after.
Let's take a look into some of these horizontal parallel channel corrections, and break them down more.
In my opinion, the longer, deeper these types of parallel channels go, the stronger the next impulsive phase will be.
Although they can be tricky depending on whether they are continuation or reversal correction.
I will go over for examples in different markets to pinpoint some of these price action structures/patterns.
Below are some of the important topics that I mentioned in the video.
Reversal Ascending/Descending Channel
Risk Management: 3 different entries on how to enter the impulsive phrase of price action
Multi-time frame analysis
Identify a correction in price action analysis
Continuation and Reversal Correction
Any questions, comments, or feedback welcome to let me know thx :)
Jojo
ENJIN, ENJUST - ready to continue the uptrendHello all,
This is another update for the ENJUSDT pair that I'm monitoring and holding for quite some time. Both the fundamentals and the technicals are quite strong for this one and I can see it easily double in value if the strong general market uptrend in the altcoins remains.
As visible on the daily chart, we are currently at stage 4 in the pair's cycle which is a consolidation period after revisiting the demand zone. Back in February this was the $0.45 zone and the successful defend of that level resulted in a rapid growth in the price of ENJIN.
What we are seeing now in late April is a similar picture with the price of the altcoin rebounding from the $2 level and preparing for another leg up. What we need here is a stable daily close above he $2.7 level (again - similar to the $0.6 area from the previous breakout).
If we zoom in to the 4-hour chart we will notice that the ENJUSDT pair is already out of the downtrend and currently above all important EMAs, so the horizontal resistance is the only obstacle ahead.
1st target up - ATH daily close at $3.4 - 26 percent from here and breakout target from the triangle pattern.
2nd target up - above ATH value - 54 percent
3rd target up - flying target at 160% Fibonacci extension - 97 percent
Regards
$BNTX Ascending Triangle breakout in next 3 days?BNTX has formed an Ascending Triangle indicating breakout in next three days for run to earnings. I've taken some good profits on this since the last earnings, got in at 102, so may be a bit biased.
On the other side - this has been a LONG bull run and is clearly overbought already. The ascending triangle would seem to indicate it's got some more bullish energy left though. China is on the verge of approving it in the news...
Also in the news watch out if the White House issues an intellectual property waiver on vaccines . This most certainly could have a dramatic effect on the price action.
LRC, Secure the StationLRC, 4h: The power in the trade idea here is the 4h timeframe working from inside out, to signal longer term bullish continuation. MACD Hidden bullish divergence issues the continuation signal. Entry accumulation here between the 0.382 and 0.50 Fib. Moving averages have gold crossed this week: the 14 SMA (purple) over the 56 SMA (green) at 4:1 ratio. LRC will use the 56 SMA as support all the way up to Fib extension targets overhead. Easy risk management with stop loss just below the 0.236, defining the bottom of this local range. I think this will turn into a 3 rising valleys, which is why position starts here. This is trading 101.
