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Harmonicpattren

USDCAD | Hidden Bullish Divergence | AB=CDThe USDCAD chart has currently formed a Harmonic AB=CD Pattern, which indicates a Potential Reversal Zone (PRZ). Additionally, there is a Hidden Bullish Divergence on the 1-hour time frame, suggesting that the current downtrend is about to shift into an uptrend. Furthermore, the price has mitigated the Order Block (OB) and is now moving upwards. These confirmations indicate a short-term bullish momentum, although the overall structure on the higher time frame remains bearish. In summary: 1: Harmonic AB=CD Pattern: This pattern suggests a potential reversal zone (PRZ). 2: Hidden Bullish Divergence: Observed on the 1-hour time frame, this indicates a potential shift from a downtrend to an uptrend. 3: Order Block (OB): The price has mitigated the OB and is moving upwards, supporting the short-term bullish momentum. 4: Higher Time Frame Structure: Despite the short-term bullish signals, the overall structure on higher time frames remains bearish. It's important to consider these factors together and conduct thorough analysis before making any trading decisions.
Long
by awaisulabdeen
2
Understanding Bearish and Bullish Bat Harmonic Patterns Understanding Bearish and Bullish Bat Harmonic Patterns: A Professional Guide for Traders In the dynamic world of trading, identifying potential reversal points is crucial for making informed decisions. Two powerful tools that professional traders often rely on are the Bearish and Bullish Bat Harmonic Patterns. These patterns, grounded in Fibonacci ratios, offer insights into market behavior and help in predicting price movements. This article delves into the intricacies of these patterns, providing a comprehensive guide for traders. __________________The Bearish Bat Harmonic Pattern_________________________ The Bearish Bat Harmonic Pattern is a reversal pattern that indicates a potential decline in price after an upward correction. Here's how to identify and interpret this pattern: X-A Leg: The initial move where the price falls from point X to point A. A-B Leg: The price then retraces upwards from point A to point B, typically reaching 38.2% to 50% of the X-A leg. B-C Leg: The price falls again from point B to point C, retracing 38.2% to 88.6% of the A-B leg. C-D Leg: The final leg sees the price rise from point C to point D. Point D is the critical point, expected at the 88.6% retracement level of the X-A leg and coinciding with the 161.8% extension of the B-C leg. Key Fibonacci Ratios: A-B: 38.2% to 50% retracement of X-A B-C: 38.2% to 88.6% retracement of A-B C-D: 88.6% retracement of X-A and 161.8% extension of B-C Trading Strategy: Traders should look for selling opportunities around point D, anticipating a downward move following the completion of the pattern. Entry, Stop-Loss (SL), and Take-Profit (TP) Criteria: Entry: Enter a short position at or near point D. Stop-Loss (SL): Place the stop-loss slightly above point X to account for any potential false breakouts. Take-Profit (TP): Set the first TP at the 61.8% retracement of the C-D leg and the second TP at the 100% retracement of the C-D leg. _________________________The Bullish Bat Harmonic Pattern_____________________ Conversely, the Bullish Bat Harmonic Pattern signals a potential rise in price after a downward correction. Here are the steps to identify and utilize this pattern: X-A Leg: The initial move where the price rises from point X to point A. A-B Leg: The price then retraces downwards from point A to point B, typically reaching 38.2% to 50% of the X-A leg. B-C Leg: The price rises again from point B to point C, retracing 38.2% to 88.6% of the A-B leg. C-D Leg: The final leg sees the price fall from point C to point D. Point D is the critical point, expected at the 88.6% retracement level of the X-A leg and coinciding with the 161.8% extension of the B-C leg. Key Fibonacci Ratios: A-B: 38.2% to 50% retracement of X-A B-C: 38.2% to 88.6% retracement of A-B C-D: 88.6% retracement of X-A and 161.8% extension of B-C Trading Strategy: Traders should look for buying opportunities around point D, anticipating an upward move following the completion of the pattern. Entry, Stop-Loss (SL), and Take-Profit (TP) Criteria: Entry: Enter a long position at or near point D. Stop-Loss (SL): Place the stop-loss slightly below point X to account for any potential false breakouts. Take-Profit (TP): Set the first TP at the 61.8% retracement of the C-D leg and the second TP at the 100% retracement of the C-D leg. ______________________Practical Application and Tips_______________________ To effectively utilize these patterns, traders should: Use Confirmation Indicators: Always combine harmonic patterns with other technical indicators, such as RSI or MACD, to confirm potential reversal points. Practice Patience: Wait for the pattern to fully develop and reach point D before taking action. Risk Management: Implement strict risk management strategies, including stop-loss orders, to protect against potential false signals. Conclusion: The Bearish and Bullish Bat Harmonic Patterns are powerful tools in a trader's arsenal, providing a structured approach to identifying potential market reversals. By understanding and applying these patterns, traders can enhance their decision-making process and improve their trading performance. Remember, like all technical analysis tools, these patterns are most effective when used in conjunction with other indicators and sound risk management practices. Happy trading!
BINANCE:ADAUSDEducation
by trading_jupiter
9
AUDCHF: BULLISH BAT SPOTTEDHello Traders, Trust trading has been great for you all. Here is my brief analysis of the AUDCHF pair. The AUDCHF pair shows a bullish bat pattern, indicating a potential upward reversal. This pattern was spotted in February and has been responsible for the upward rally noticed on the pair since the first week of February. There appears to be more room to the upside on the pair. Key points : X: 0.53416, A: 0.72599, B: 0.64114, C: 0.69243, D: 0.56181. My Expectation : Price to rise from 0.59072 to around 0.68 in the coming weeks/months. Invalidation : If price exceed the 0.54662 to the downside, this idea becomes invalidated. Traders should watch price action closely and put in proper risk management. Cheers and happy trading!
Long
by Samuel124
SCUSDT (1H) Long ThermThe information contained herein has been prepared for general information purposes only. The comments and recommendations contained herein are based on the personal opinions of commenters and advice givers. It should not be interpreted as a recommendation to buy or sell any investment instrument or a promise of return. These views may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results that meet your expectations.
Long
by AliHikmetHarun
Complete analysis of BTCHello dear friends, I hope you're doing well. Currently, Bitcoin is in a ascending channel. Given the ongoing conflicts like Russia-Ukraine, Israel-Hamas, and Lebanon, people's excitement for buying is natural. In my opinion, two scenarios could unfold: 1: Due to people's emotional behavior and speculative pricing, after reaching the FVG range around $73,000, Bitcoin could return to the channel's floor. 2: After a bullish move to the middle of the channel, we might head towards the historical ceiling at $74,000 and then return to the channel's floor. ---------- Please note, this market is full of smart and psychological traps. For example : Pay attention to the yellow triangles. They often represent strong support after multiple touches, allowing for comfortable long positions upon subsequent encounters. Also, the possibility of fake breakouts at the channel's ceiling is high. ---------- Regarding important news about USDC stablecoin: Binance has halted support for USDC stablecoin on the Tron network. What might be the reasons behind Circle (the issuer of USDC) removing support for the Tron network? Most likely, USDC has been forced to take this step to appease US regulators. There's a high likelihood that Justin Sun, a major figure in the market, might face a fate similar to CZ. He manages TRX, BTT currencies, and the Poloniex exchange. ---------- Regarding Tether dominance, the $3.80 support range is the biggest barrier to Bitcoin's upward movement. ---------- Timeline analysis: Friday, March 28, and Tuesday, April 8, are crucial days ahead, preceding the halving event. I'd be happy to share your opinion with me. Your likes, follows, and comments give me energy.
by Sadegh_Sh
15