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Continuation

BTC: Possible Bearish Continuation PatternBasic Trading 101 - Bearish pennants are continuation patterns that mark a pause in the movement of a price halfway through a strong downtrend. - They occur just after a sharp drop in price and resemble a triangular flag as the price moves sideways, making gradually lower highs and higher lows. - The downtrend then continues with another fall in price. BTC seems to be forming a bearish pennant. If Bitcoin breaks upwards from this pennant, we could expect the price to retest the 200 Exponential Moving Average. If not, it could drop down the the blue area of the chart. Looking at the 1 hour time-frame, we can see a bearish divergence on the RSI, indicating the possibility of a price drop to the lower line of the pennant, which would further indicate the validity of a Bearish Pennant.
COINBASE:BTCUSD
by MRudy
2
GBPJPY - Long - Daily Chart - MACD Continuation TradeEntering on a bullish MACD cross while ABOVE zero-line , signaling bullish continuation. Note that I use MACD ONLY for continuation and do not attempt to find reversals using the MACD as I do not find it to be very accurate in FX Trade is on the daily timeframe and has a 1 ATR stoploss (148 pips), 1ATR target 1 where I take 50% of my position off and move stop to breakeven, then I use a trailing stop following the other 50% of my position setting my stop at the low of each subsequent daily candle that continues higher. These trades can take many days to play out and I often hold over the weekends, do not take this trade if you struggle to control your risk or are uncomfortable holding for weeks at a time. I expect this setup to go against me over the next few days as this was already a strong move up and may need to cool off for a day or 2, I expect to hit profit targets sometime next week but don't trade based on time. It is also important to note that I normally allocate up to 1.5% account risk on continuation trades however I do not risk over 1% when I trade GBP (due to the fundamentals around Brexit). A similar trade to this could also be expressed by shorting EURGBP although that pair has not made a signal on the indicators yet and is most dramatically news driven. The historical probability of MACD continuations on the top 20 fx pairs (with my 1ATR parameters) is around 68%, please perform your own backtesting of this strategy as you can achieve higher or lower probability results using different stop losses and profit targets. Best of luck traders.
Long
by CT-Jaguar
1
Demand Level For Buy Position In XAUUSD 27/01/2019After a long stamping, the price finally broke out the resistance at 1297.00 zones and creates a new fresh demand which I marked below, it seems the price tends to reach the supply Level from the left at 1315.00 zones, we can see that on a daily chart, the demand below is a great continuation level of buy position, as long as the price didn't reach 1315.00 zones, I'll Buy at the demand below and the target will be 1315.00 zones,
FX:XAUUSDLong
by the5erstrading
Demand Level For Buy Position In XAUUSD 27/01/2019After a long stamping, the price finally broke out the resistance at 1297.00 zones and creates a new fresh demand which I marked below, it seems the price tends to reach the supply Level from the left at 1315.00 zones, we can see that on a daily chart, the demand below is a great continuation level of buy position, as long as the price didn't reach 1315.00 zones, I'll Buy at the demand below and the target will be 1315.00 zones,
FX:XAUUSDLong
by the5erstrading
REV Symmetrical TriangleMarket order placed to go long with REV anticipating a continuation symmetrical triangle formation with a nice risk / reward. If the lower boundary of triangle is broken decisively at a day close the analysis will be falsified. 1. Taking a position here before the next rally with anticipation of a breakout. 2. If the next rally bounces off upper resistance of triangle formation, this gives an opportunity to take profit and wait for bounce confirmation off the lower triangle boundary.
RLong
by Shadsteh
Long Term Destination For EURUSD Based On Supply & Demand 10/01As a price action forex trader, my trading decision based mostly on Supply & Demand, the EURUSD now is bullish, and if we look at the daily chart, we can see that the next supply is Waiting at 1.1720, therefore I believe the price will tend to reach there, in order to join this bullish momentum, I'll wait for the price at the new fresh demand below, this demand is a Great continuation level for buy position, my target will be 1.1720 zones.
Long
by the5erstrading
2
A false breakout in SMHSMH has falsely break out of the 98 double top resistance level on the back of some positive general market sentiment. However, the break was short lived and it has been quickly auctioned back into the old trading range. A false pattern is a powerful pattern in itself as a failure at one side of the range tend to fuel move to the other side of the range. Now I am eye it to break the 88 major support and open doors to a much bigger move to the down side. The massive contracting triangle at the high would imply at least two legs down. Now we only have seen the first leg. The break of the 88 support would be the beginning of the second leg.
SShort
by chenb1981
BTC Update! Bulls maintain control for nowWelcome back everyone. I was away for a long weekend and really didn't check into charts too often as I knew I would not personally be trading anything here with limited access to internet. But the bulls finally made their move and well, I'm not too impressed thus far. Last chart we discussed the bulls trying to make their break and ETH and LTC both being much stronger and making their bull breaks to new highs since our lows a couple of weeks ago. BTC has broken upwards but still remains below its high from 12/24 of $4239. ETH and LTC both hit new highs compared to 12/24 with LTC really showing its strength getting a good 9% above its 12/24 high. BTC however, remains about 5% below its 12/24 high. So BTC definitely the weak link of the 3. Positive is it has plenty of space to form another 4 hour higher low and continue to rack up some support levels. Currently bulls would love $3969 from over night to be the higher low and then to see continuation today up towards our $4239 high. Bears have given some decent volume but bulls holding relatively well here. I am back for the week so will remain patient to see how bulls and bears react today and tomorrow before deciding on my next move but happy to see some bull breaks across most all names in the space and now its wait for further continuation and maintaining some higher lows and higher highs. Bulls need to show that stair step upwards pattern and avoid those elevators back down. Just My 2 Sats!
COINBASE:BTCUSD
by My2Sats
1hr head and shoulder pattern forming at end of diamond patternWe can see a 1 hour head and shoulder pattern is threatening to break the neckline right now and if it were to do so we would essentially have a breakdown of the bearish continuation diamond pattern. We eliminated the possibility of it being a diamond bottom pattern when no volume accompanied the fakeout bullis breakout and nwo it is crawling back inside the diamond pattern at the last second to be able to turn it into a bearish continuation diamond with help from a 1 hour head and shoulder pattern breakdown. The target should the head and shoulder pattern breakdown but not not trigger the diamond is 3.6k and the secondary target should it also trigger the diamond breakdown we can see is much lower...I anticipate at the very least the head and shoulder breakdown occurring considering weekends are pretty infamous for dumping. However 4hr stochrsi is alreay pretty overextended on the bearish side so I can see a rebound happening by the time the 1 day stochrsi reaches that zone as well. However it is completely within the realm of possibility for us to also dip to the bearish continuation diamond target and even to the bottom trendline of the larger descending broadening wedge pattern we are seeing...if we do indeed fall below the 4hr 50ma(in orange) for too long of a period of time that gives us a real possibility of having the deathcross on the 4hr timeframe occur again which will inevitably lead to more downside...but I am hopefully we wont go farther down than the bottom trendline of the descending broadening wedge. These scenarios are only in pla in my mind if we first trigger the 1 hr chart head and shoulders...it will be what starts the dominoes on this one...if not we may just bounce back above the 4hr 50ma but probability does not favor this.
BITSTAMP:BTCUSDShort
by DrDovetail