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Continuation

EURUSD -This Chart Perfectly represents what trading isSo if you've been following my posts on the EURUSD then you know that I've had a short-term bullish view within a longer-term bearish view. The bullish move from earlier this week worked out perfectly and now the market has reached a level in which it will have to make a key decision point. BULLISH SIDE - The market is forming another head and shoulder bottom pattern which is a classic reversal pattern providing a bullish outlook. The confirmation of this pattern would be a violation of the nextline and IF we were to get that, THEN I would project a continuation higher to 1.17-1.1750's level. BEARISH SIDE - If previous structure resistance holds at this level then we could see the end of our relief rally and a continuation lower to retest previous structure lows and a possible extension down to my longer-term bearish projection of 1.110-1.08's. This chart represents what trading is, multiple parties, having multiple opinions while looking at the same chart. Something I always tell the traders I work with is "to be predictive in your analysis, but reactive in your execution" and essentially what that means is wait for the market to give you confirmation that one thing is more likely to happen than the other. Good luck traders and if this post was helpful, please let me know by leaving a comment below. Akil
by Akil_Stokes
45
IOTA TRADE SETUP - SHOWING DIFFERENT ENTRY STRATEGIESHi guys, been a while. IOTA just had its first initial impulsive leg up after a downtrend and is forming a continuation pattern. In this pattern i have layed out three different areas where you could go long with respectively their risk to reward ratios. As you can see the best entry is the one closest to the baseline of the triangle, but it doesnt reach this level too often. Depending on how aggressive / conservative you are as a trader, you choose at which point you would like to enter. Breakout trades are usually high in risk, but when done properly can give a higher succes rate. Im looking to go long at the low risk level obviously, but when iota breaks out before it reaches that, i would take a smaller position size long at higher prices. good luck
BITFINEX:IOTUSDLong
by RegideTrader
inverted widening triangle, continuation of trend, read more-->as for right now indicators showing a very bullish signal on daily, rsi overbought rsi stoch bottom However this time its better not to folow these view indicators as sentiment is overruling in favor for the bears. regardless i think we are in a inverted widening triangle pattern, wich often leads to continuation of the trend, in this case downwards we found a bottom at D sitting at the price of 5860 & just hitting the longer term support of previous bottoms at this zone marked as green i am expecting bitcoin to move to 6.5k zone, 2 reason for that is daily rsi and stoch reset, it needs to get out of the oversold territory before going down more, 2 it would fit in the pattern we discussed above here. if this pattern finishes i do say we drop down more to the 5.3k zone were bitcoin can find some strong supports back from 2017, it also puts bitcoin back to a spot before the big parabolic move started, so im tempte to say that this is as low as we will get this year for bitcoin. if you like this idea please thumb up and follow me ;) much appreciated!
BITFINEX:BTCUSDShort
by NGenetics
30
KEEP IT SIMPLE!- ACCUMULATE IN KEY SUPPORT RANGE (7.0-7.3)A bottom for the year was established in July with the confirmed cup and handle followed by bull flag continuation formations that played out, with this in mind for maximum R/R, accumulation in area of price consolidation/excess demand in range of 7.0 and 7.3 - which corresponds with the right lip of the cup which represents significant support. Price bias should on the whole remain bullish until bearish pattern and confirmation is occurs.
BITFINEX:BTCUSDLong
by CalicoNeko
EUR/JPY Pullback with PinbarWe can see here on the daily that the EUR/JPY pair is looking at a nice set up for a continuation of it's recent break-out. After forming something of a bottom it has broken out above previous resistance then pulled back making it new support. We also have a lovely text book Pinbar candle that's wick crosses over the previous resistance (now support). This tells us that the new support is quite strong and there is more buying on the horizon. Full disclosure, I am waiting for a stronger signal on the 1 hour to get an entry. I would like to see the 1 hour chart start to break-out again from here. The RSI is also starting to trend up showing more strength to our bullish bias. I am bullish on this but I am waiting for more confirmation before I pull the trigger. I'm not a pro and I'm not suggesting you buy or sell. Just sharing my observations and making myself accountable! Enjoy and trade smart! JWB
by JWB26