bitcoin, nice spot for a longIt looks like BTC took the more bullish pattern. It just tapped on resistance, CCI about to roll up, nice spot for a long today.
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Entry
BTC breakoutBitcoin breakout expected!
Descending triangle formation is coming to a close with touches to break 38.2% fib level.
Volume has begun to slowly pick up with an engulfing candle appearing after a doji.
This is also after a consolidation after a pullback from testing the 78% level
Should expect a breakout to push upwards to 12,000 at least may see further.
Entry should be coming within next few days once triangle is broken effectively.
Definitely bullish, however DYOR.
99 EMA very low risk BTC longThe teal 99 EMA will be confluent with the .886 on this harmonic pattern. I will be taking a long position at this point if we get at least a 4hr candle close here. This pattern and entry will become invalid if BTC does not bounce off the 99 EMA. The "D" point of this pattern could be the 786 or 886, if BTC continues to consolidate as it has, then it will likely create some type of lower high so be wary and ready to take profit. Not financial advice take this entry at your own risk.
EURGBP short Focused Fortune FXupdate after some pound weakness, we can consider the entry point until now as a drawback phase. as trade setup still completely correlates with what was suggested yesterday night before some pound weakness through the night (germany calling out bo-jo). We can see nothing was anything major or significant therefore we do not need to worry for any reversals as such just now as the pullback currently looks like a retest of the broken ascending channel. Perks of swing trading is holding positions for a longer period to receive a larger benefit from the trade. Patience is key. Some big Euro data due over the next week including ECB interest rates too as well as UK data.
Trade Idea on "EURCHF" / Short Setup / by Thinking Ants Main items we can see on the 4hs Chart:
1)Price is on a Flag pattern formation that found support on a major Daily Zone
2)Flag Patterns are considered continuation structures
3)Currently, the main form is a descending channel in which the Flag pattern is on it.
Based on that if The price breaks out from the Flag pattern, we expect a continuation of the bearish movement towards the lower trendline of the descending channel
Daily Vision:
On the Daily Chart, we can see how the Flag pattern is making a pullback over the major corrective structure in between the 2 Impulsive waves AB and CD(On current formation) that give us strong support for the Trade Idea.
H1 - Short with valid and ideal APF with a good psych number... A potential bearish and authentic APF Bat 88.6% XA ret within 161.8% - 261.8% CB ext for a short/sell trade opportunity with a good psychological number at price 0.66600 even handle. Aggressive entry with pending sell limit order at the completion and stops just above setup's X point giving us a good 1:2 RRR to TP 1 and 1:3 RRR to TP 2. Conservative upon confirmation to short/sell once price completed the setup and SL and TP as seen in the chart. Could there be one good short/sell opportunity? We will see. Trade with care and good luck in the markets
Symmetrical Triangle formed symmetrical triangle has form, there is no clear trend or direction in the price. Price is bound by two slanted support and resistance lines. Once the price reaches the apex of the the triangle, a breakout typically occurs but its direction is unknown. must pay attention to possible false breakout. Now must wait for the price to breach the triangle boundary and the following price increase. the retest occurs when the price pulls back to the original breakout price. therefore, we place a buy order just above breakout price.
What is "Price Action"? What about indicators?There is no one clear definition of price action. It can be as simple as "Every tick on any given chart, of any given market." However this definition is too broad and does not adequately describe the term. A better definition is "The collective result of buyers and sellers entering the market for any logical reason, which together create reoccurring patterns that can be analyzed and capitalized."
Price action is based on humans behaving rationally, logically, and similarly in similar situations over time, and is the cumulative effect of institutional trading. It has been, and always will remain fundamentally unchanged. If you compare a chart from 100 years ago (such as the crash of 1929) with one of today with the time scales removed, you will not be able to tell the difference between the two. It does not matter if you compare a yearly, monthly, daily, or even 1 minute chart with any other chart of a different time frame. Price action appears the same and works the same in every market, and on every time frame. The institutions cannot hide what they are doing; price action is their foot print.
Price action can be used to invest long term, or day trade any market. It allows a trader or investor to identify opportunities without the use of any indicators. In fact, all indicators are a derivative of price action in one form or another. Interestingly, the patterns which repeat as well as trend tendencies can be observed on different charts, even outside of markets.
Can you tell a difference between these two charts? The first is a daily chart of CSX. The second is a 5 minute chart of the MES (micro s&p). All markets and charts look the same, and behave similarly. Once you understand the information within, you can understand what the institutions are doing at any given time.
BCH/BTC - small retrace and then pump!BCH/BTC looks like its headed down to the bottom of the range before picking up speed again. In this one I decided to post the chart showing how I placed the gann fans. Feel free to try it out for yourself and please give me a follow if it helps you :)
Target: 0.0490
Blue triangle indicates the current range.
Green box is buy.
Red box is sell.
Blue line indicates major resistance.
Yellow line indicates t/p.
This is a log chart.
This is not financial advice.