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FLAG

BTC at critical support, but sings point downIn this weekly chart we can more easily see the rising Head and Shoulders pattern, followed by a long flag pattern lasting over two months. The H&S pattern is confirmed by the volume and with the breakout from the flag today (closing price at $35800 at time of writing, or more than 3% previous close), we next must watch the green dotted line support. If the probable break from that support happens, I'm expecting it to tumble to around $29000, presenting the next opportunity for reversal based on standard measurement of a head and shoulders pattern. Key learnings: - H&S pattern has higher volume on left shoulder than the head. - pattern breakout is when closing price is more than 3%. In this case, BTC price close is more than 5% lower than the support trend line of the flag pattern. - measurement principle for H&S is about half the height from neckline to the top of the head, so expect drop to $29000
BITSTAMP:BTCUSDShort
by yousafkhan1976
GBPJPY More Decline SHORT Welcome back! Here's an analysis of this pair! **GBPJPY - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Short
by BKTradingAcademy
6
BTC is going down -30-50% / bear flag Bear flag pattern A bear flag pattern is typically discernible on a candlestick chart. It is constructed from the flag pole, which indicates the rapid decline preceding the retracement, and the flag itself represents the actual retracement. As a trend continuation pattern, the bear flag chart is considered a trend continuation pattern. The price pattern will first trend downward until a new support level is established. It's heading down to $30000 then $20000 IF THE pattern succeeded . All the best..
BITSTAMP:BTCUSDShort
by K-alonzi
7
Market Unpredictability This is a perfect example of the market sometimes not going your way. I shorted on the first bearish flag thinking of course that this is one of the strongest indicators of market direction and I got burned (lost a little money). My mistake: Not looking for other signals. In this case the 20ema crossed over 50ema sending the price up. Sometimes you have to look at more than 1 indicator or pattern, this isn't always the case but it is better to have 2 signals than one. The second time both the indicator and chart pattern aligned perfectly together and as a result the market dropped as expected. I want to be clear that you should never jump back in so fast in a trade, personally after a loosing trade I step back for a day or two or trade another pair. But in this case the analysis was strong and it led me to some profits. The market is always going to do what it wants, all we can do is analyze, prepare our risk management and execute.
by Tradingday22
4
unconfirmed breakdown of the bearish flag patternit seems bitcoin is forming a bearish flag pattern. we can find a breakdown in this pattern, but we still can not confirm this breakdown for the following reasons: 1- the Volume is to low 2- The price has not left the Break Down area quickly 3- We can not identify a strong red candle To confirm this breakdown, Bitcoin must first breakdown the Renko swing pattern. If the price returns to the flag pattern, the current failed breakdown can be considered as a potential spring.
by cryptoonchain