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Falsebreakout

Bitcoin Bullish ProposalBitcoin Bullish Proposal After the recent price action I've decided to re-evaluate my analysis. By using Andrews Pitchfork, I found a channel price seems to respect. Currently, price is showing a reaction to the median, so if your a bull, this might be something to keep an eye on. If price can break through the median, I believe it will go to the next major resistance at around $6100. However! This price action has verified some of my previous analyses. I still think this is a false breakout. Price still needs to drop down to one of the MA's. Either the daily 200 or weekly 200. At which point it will consolidate and then finally gain enough momentum to rally into an official bull market. Trading Bitcoin can be risky. The price channel above could be useful but I will leave that to your judgement whether it's trade-able. Personally, I am a long term holder. If you are a long term holder as well, don't let the recent price FOMO you into buying at the top. If you are too antsy, wait for it to come down to the lower part of the channel before you buy. Or wait until we come back to the lower MA's.
COINBASE:BTCUSD
by AnotherAnalyst
Who is in control? I'm not kidding! I warned!Now give me hopeful people at BITCOIN. What is the main trend? What is the largest volume? Who's in charge of this game? What are the technical indications that the game has changed? People are full of hope in TOP TRADING VIEW, they are highly manipulative people. They need to live, they need to sell their expertise on their call. They live on it. They lie! Take your money and go buy knowledge, not SHITCOINS cheap service. This is not an investment. An investment in knowledge pays the best interest. Benjamin Franklin Buy books. This market is far from over. Stop fighting the trend. Is she your friend. Now go look at my studies. I'm not famous. I do not want your money I will not fool you Now go!
BITMEX:XBTShort
by f3rG0D
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
SPX SHORT ACCUMULATION OPPORTUNITYWell guys.. the divergence started right away.. The volume leads the way..Both equity to derivatives.. It's amazing to me that on rally days the problems globally are forgotten..Are these people high..I find it hard to go long on equity at this time.. From the largest shippers to the largest most popular phone and gadget company lowers by 10 billion to warnings that it's harder to maintain profit margin..WTH Manufacturing has pulled back to 2008 numbers.. Because the FED agrees that the global economic contagion could reach our shores and they may react to the data. So people jump hand over fist to get more shares of the overvalued companies??? No matter which way it goes i will hopefully continue to pick up the markers before it happens so I CAN TRADE IT.. For now I'm bearish
SP:SPXShort
by Marcus2018
1
GBPNZD DAY BEST LUCKY STAR DOJI STRATEGYTrading Doji candlestick as a stand-alone trigger signal is a bad idea. Price usually whipsaws around doji. Note #1: In technical analysis, the Doji candle is a neutral pattern if it’s used as a stand-alone candlestick. However, if the Doji candle it’s used in conjunction with the preceding price, we can establish a bullish or bearish bias. A whipsaw pattern involves price moving chaotically above and below a certain key support and resistance level. Whipsaw patterns are also referred to as false breakouts. We have developed our Japanese Doji trading strategy around this price feature. Step #1: For short trades we need a steady move downward, below the 14 –day MA Even though most traders used this Japanese candlestick pattern as a reversal pattern, we have found out through some testing that the Doji candle performs best as a continuation pattern. So the first step we need to undertake is to determine the trend direction. When we see the price moving steady downwards below the 14-day MA we have enough reasons to believe a downtrend is in progress. Step #2: Look for a Doji Candlestick to develop near the 14-day MA and inside the previous candle price range. Next, there are two more conditions that need to be satisfied for a valid trade setup. The first thing to consider is the location of the candlestick setup. We need the Doji candle to develop near the 14-period MA. Secondly, we need the Doji candle to be contained inside the price range of the previous pattern. Basically, this will lead to the formation of another pattern called an inside bar. So, we have a pattern within a pattern. Step #3: Whipsaw pattern: Look for a false breakout above the previous two-bar pattern. Go short once we recover and break below the Doji candle opening price Now, we’re going to bring to light how we use the whipsaw pattern to our advantage. The Doji candles are very well-known candlestick patterns for producing a lot of false breakouts. We also know that a break of a level against the prevailing trend has fewer chances to success. So, by putting all these pieces of the puzzle together we were able to develop one of the best Doji strategies, which eliminate the scenario where your stop loss is prematurely triggered. After the false breakout, we wait for the price to recover and we only sell once we get price breakouts the bearish Doji candle opening price. Note #2: We want everything to happen within the first candle after the Doji bar. So the false breakout and our entry should be immediately on the next bar following the Doji candlestick. Let’s now determine an appropriate place to hide our protective stop loss and a proper way to exit our trade. Step #4: Place protective SL above the current daily candle high. Take profit once we break below the inside bar pattern or a support level. We aren’t going to stay in this trade for a very long period of time. That’s the reason why we exit our profitable trade once we break below the inside bar pattern or nearest sup/res. When it comes to placing our protective stop loss, we can hide it above the high of the candle that triggered our entry. Long trade is just opposite setups.
Short
by Tradingstrategyguides