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Despite everything - bearish case is still active!Despite all the fundamental things - my technical look on silver keeps still being bearish. IF the XAG/USD manages it to make daily close above 24.82 USD and overcomes the 50's SMA, the 38.2 % Fibonacci retracement, and the channel I would see more upside and this could be the end of the bearish case in silver. Otherwise, it's IMO more likely that silver will resolve the bearish flag by breaking to the downside and will reach some price quotes around 22.40-23.00 USD.
TVC:SILVERShort
by p4917
3
ADAUSD Gets the Pullback it NeededImportant things to note: Price tested 2.0 level Price is sitting at rather weak support On 30M chart you can see a bear flag forming. (watch where price breaks the pattern). I do not believe price has settled. Price has tested 2.0 BTC has pennant on its chart. There is a massive amount of buying volume happening Important Dates to Take Note of: BTC becomes legal tender in El Salvador Sep 7 2021 (prompted massive sell off) ADA Alonzo (smart contracts) go live Sep 12 2021 ADA Summit Sep 25-26 2021 ADA has finally got the pullback it needed for quite sometime now. Though, this shouldn't surprise any of my followers as I have been talking about this at nauseum for at least a week now. The price will likely settle in an area with a lot of support. The areas that I am currently looking at are 2.2 and 2.0 (due to the test of that level). However, it can always decide to break the pattern and move upward. There are fib retracement levels at 2.36 and 2.06. I think we will end up somewhere in the middle and once I have confirmation the price has settled and I see upward momentum start to form, I will enter. Again, I am a bit very patient and trade very traditionally. Hopefully we can see a nice bottom form into a basing pattern which is exactly what we want to see. If you are worried about the pullback or wondering where to enter, just remember you want to enter at a support level, ideally a strong support level and you take profits at a resistance level. That is trading 101 if you are long on an asset. I would not worry too much. Pullbacks are required for upward momentum. ADA has wonderful fundamentals and I personally do not believe crypto is at the end of its bull run. But like I said before, many analysts including myself believe that BTC will end September around 43k only to push forward to new highs by the end of 2021. Anything can happen, but that is the analysis that makes the most sense to me. I will continue to keep and eye on ADA and update you when I see anything to note. Set alerts at the top and bottom of the pattern, and at the support levels I have mentioned and you will be fine. Also, it is worth mentioning that TradingView has reached out to me and offered me very kind words, and showed me some support. I thought that was very nice of them and it was very unexpected. Though, I never planned for any of this to happen at all. I was constantly making charts for myself and my friends and some of them suggested I post them publicly. I never imagined any of this would happen, if I did, I would have waited until I had a bit more free time LOL. However, it makes me really happy to know that people are learning from my charts and hopefully it will encourage you all to learn technical analysis for yourselves! In a couple weeks I will have more time to make the educational content you have been asking for, and I will likely chart a wide spectrum of assets. Thank you again for all of the support, it means more to me than you know! Now for some good news. As a person who follows ADA closely, I know that the adoption of the platform will happen very quickly with the release of smart contracts on the 12th of September. In fact, I think it was built with such a great foundation, I might just do an entire post on the fundamentals of Cardano sometime in the future. Pretty soon, we will see NFTs being created, DeFi, applications being developed, and overall strong adoption of the ADA blockchain platform as a whole. If there will be any immediate reason for ADA to move higher, it will likely be news coming from the summit on the 25-26 of September. So I would keep an eye on their twitter accounts around that time. Again, I apologize for having less time to post at the moment, but that will change in a couple weeks. I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it. Tell me what you think? This is not financial advice. DYODD.
KRAKEN:ADAUSD
by mysticalwalrus
28
EURCHF 31 August 2021Waiting for confirmation for EURCHF to break the bullish flag pattern. When pattern break. Then we are looking for prices to go up as targeted. Manage your own risk. Disclaimer: This content is intended to be used and must be used for information and education purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. Accordingly, the writer will not be liable in respect of any damage, expense, or other loss you may suffer arising out of such information or any reliance you may place upon such information.
Long
by Phoenix-Rise-Trade
How to use trendline to identify price action structure/patternHi everyone: Many have asked me about how to properly use trendlines to identify price action structures and patterns. So in today’s educational video, I will go over this topic in more detail. First, I use the trendline as a “frame” to identify structures and patterns, and NOT use it as a Support/Resistance. What I do is to put in the trendline for the highs and lows of the price action that can help me to pinpoint what the price is doing, what kind of a correctional structure that it is currently in. Typically after an impulse phase of the market, then we start to identify a structure/pattern by connecting the swing highs and lows. Second, as I always point out in my videos/streams, a structure/pattern needs at least 2 swing highs and lows to classify as a structure. Certainly more swing highs and lows are good, but it's not necessary. Often I get asked about the “third touch” or more. To me it's not necessary, but if price does form the third touch, I would proceed the same as the price has a second touch. Third, we are identifying the price action correctional structure, and sometimes the market is not perfect, it will not give you a textbook looking bullish flag as an example. Hence the backtesting and chartwork from each trader is important to get your mind familiarized with the market and its “imperfect” development of the price action. After identifying the impulse phase, then look to see what the market is doing. Is it falling into a consolidation ? Not much movement except sideway price action, or ascending/descending like consolidation will give you a clue on whether the price is correcting to continue, or correcting to reverse. Take a look at the educational videos I have made in the past regarding the type of correctional structures we typically see in the market. All the videos are down below. Continue to backtest and do chart work to get familiar with drawing in the structures/patterns. The more you do these, the better and easier it is for you to identify them in your trading journey. Remember, the market is not perfect, so not all the structures/patterns will be “Textbook” like on the real, live market. Learn to deal with the “imperfect” market, so you can better utilize price action analysis to your advantage. Any questions, comments or feedback welcome to let me know :) Thank you Below are all my price action structures/patterns videos on different type of corrections. Continuation and Reversal Correction Identify a correction for the next impulse move in price action analysis Impulse VS Correction Multi-time frame analysis Continuation Bull/Bear Flag Parallel Channel (Horizontal, Ascending, Descending) Reversal Ascending/Descending Channel Reversal Rising/Falling Wedge Reversal Double Top/Bottom Reversal Head & Shoulder Pattern Reversal “M” and “W” style pattern Reversal Impulse Price Action Continuation/Reversal Expanding Structure/Pattern
OANDA:XAUUSDEducation
by jojofang0901
61