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DIXON Short Setup: Evening Star & Potential HNS with Trendline Weekly Analysis Pattern Observed: Evening Star on Weekly Timeframe Additional Insights - The Evening Star pattern tends to be more reliable on Daily and Weekly timeframes, making this setup particularly noteworthy for swing traders. Trade Setup 1. Entry: Enter after a decisive break below the low of the third (red) candle in the Evening Star pattern. - Alternatively, you may enter on the fourth candle if it signals a reversal, with a stop loss set according to your risk tolerance. 2. Stop Loss (SL): Can be set based on your risk preference, usually just above the high of the Evening Star pattern. 3. Target (TGT): Consider scaling out at key support levels or use the measured HNS target as detailed below if the formation completes. --- Potential Head and Shoulders (HNS) Formation Trade Setup for HNS Pattern: 1. Entry : Enter when price decisively breaks below the neckline on a closing basis. 2. Target (TGT): Measure the distance from the top of the head to the neckline and project it downwards from the neckline for your target. 3. Stop Loss (SL): Place the stop above the head of the HNS pattern. --- Additional Confirmation I've drawn a trendline to monitor for a potential breakdown. If either the Evening Star or HNS pattern aligns with a trendline break, it would serve as an additional confirmation for a short position. --- This setup combines a confluence of technical factors, making it robust for weekly trading decisions. Comments and thoughts welcome! IMPORTANT THINGS TO REMEMBER 1. Don't be fooled by opearators Theyll try it take it up to sell 2. Don't be a hero, follow SL with 1% extra loss max. (as setup is on Weekly TF)
NSE:DIXONShort
by The2PercentTrader
Learn to identify some useful Chart patterns, Merry Christmas🎄 Unlocking the Secrets of Chart Patterns: Navigating Market Trends 📈 Season's Greetings to all our readers! As we celebrate the spirit of the holidays, let's delve into the fascinating world of financial markets. In our journey to understand and navigate the complexities of trading and investing, we've touched upon essential chart patterns that can serve as invaluable guides for market enthusiasts. In the midst of the festive cheer, let's revisit some of these powerful indicators: the Double Bottom, Flag and Pole, Bullish Pennant, Rising Wedge, Falling Wedge, Triple Top, and Inverted Head and Shoulders. Understanding these patterns can be akin to unwrapping gifts of insight into potential market movements. So, grab a cup of cocoa, settle into your favorite chair, and join us as we explore the significance of these chart patterns and share practical tips on incorporating stop-loss strategies to enhance your trading toolkit. Wishing you a Merry Christmas filled with joy, warmth, and prosperous insights in the financial markets! 🎅🎁🚀 Double Bottom: Description: Imagine a smiley face turned upside down. A double bottom is a chart pattern that looks like two rounded troughs (bottoms) next to each other. Interpretation: Indicates a possible reversal of a downtrend. The price has tried to go down twice but failed, suggesting a potential upward movement. Stop-Loss Tip: One can place a stop-loss slightly below the lowest point of the double bottom. If the price falls below this level, it may invalidate the pattern. Flag and Pole: Description: Think of a flag on a flagpole. The "pole" is a strong, quick price movement, and the "flag" is a rectangular-shaped consolidation pattern. Interpretation: The flag and pole pattern often signals a continuation of the previous trend. The flag represents a brief pause before the price resumes its original direction. Stop-Loss Tip: One should set a stop-loss just below the lower end of the flag. If the price drops below this level, it might suggest a reversal of the trend. Bullish Pennant: Description: Similar to the flag and pole but with a small symmetrical triangle (pennant) instead of a rectangle. Interpretation: Indicates a temporary consolidation after a strong upward movement. It suggests that the bullish trend might continue after the brief pause. Stop-Loss Tip: Place a stop-loss under the lower trendline of the pennant. A break below this line could signal a potential trend reversal. Rising Wedge: Description: Picture a triangle with its top side steeper than the bottom side. The price makes higher highs and higher lows but in a narrowing range, with indicator making Lower Highs (Bearish Divergences). Interpretation: This pattern can indicate a potential reversal to the downside. It suggests that the buying interest is weakening, and the price may soon decline. Stop-Loss Tip: Place a stop-loss just above the last price swing high of the wedge. If the price drops below this line, it may suggest a potential reversal. Falling Wedge: Description: Similar to the rising wedge but inverted. The top side is less steep than the bottom side. Interpretation: Represents a potential reversal to the upside. It suggests that selling pressure is weakening, and the price may be ready to move higher. Stop-Loss Tip: Place a stop-loss just below the last price swing low of the wedge. If the price drops below this line, it may suggest a potential reversal. Triple Top: Description: Visualize a horizontal line touching the tops of three consecutive peaks. Interpretation : Indicates a possible reversal of an uptrend. The price has failed to break above a certain level three times, suggesting a potential downturn. Stop-Loss Tip: One should set a stop-loss slightly above the highest point of the triple top. If the price rises above this level, it may negate the pattern. Inverted Head and Shoulders: Description: Picture three troughs, where the middle one (head) is lower than the two on either side (shoulders). Interpretation: This pattern suggests a potential reversal from a downtrend to an uptrend. It signifies a shift in momentum from bearish to bullish. Stop-Loss Tip: One should place a stop-loss just below the neckline (the line connecting the highs of the pattern). If the price falls below this line, it might indicate a failed reversal. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:NIFTYEducation
by RK_Chaarts
49
AUDUSD - Good ol' Head & Shoulder in the making AUDUSD has been hit pretty strong by the news that popped up an hour ago, USD getting more and more strengh as it showed more inflation than expected. Here we have a nice Head & Shoulder in the making, and price is grinding the neck line as I'm writing, I'm already in position, as I've entered a little bit before the news, my trade is at break even now so, it's a free ride If price happens to break the neck line, well then, we gonna see some blood on the chart! In addition of the H&S we have what could be an ABCD push in process as well. And finally, as you can see on the chart, we first broke the ascending trendline, then price made a flag right around the trendline, which it used to retest the trendline, then, price broke the flag, and retested it so, I'm no expert but, that's a lot of evidences going in favor of a short, I wouldn't be surprised if the neck line was broke, to see price fall to the target area at 0.675 Cheers guys and safe trading!!!
Short
by aemerydufoug
2
I see BLOOD for #QNT #Quant.Holding on to my disbelief that this asset will have a strong support and finally meet the point of interest where we all were not able to get in. I am only reminding myself to start buying arount 70 and 62$ at least. Hoping that I have enough money to get in here and thank you myself for seeing this wonderful opportunity. QNT is something we can see to fly 3 digits around 400$ like price action of EGOLD or EGLD. I am just talking to myself and doing this for records and say I TOLD YOU SO MYSELF.
Short
by osodatsismoso
BTCUSD Head and Shoulders TopSeeing a very well-defined Head and Shoulders topping pattern on BTC now. The 200 SMA is also rolling over now in combination with a clear head and shoulders, making this a very bearish setup. You'll be hard-pressed to find a H&S pattern this well-defined in recent years for BTC. Totally coincides with the top in the indices I noted recently. Given the y-axis on the chart, I wouldn't be shocked if BTC lost 2/3rds of its valuation over the next few months/quarters. This is a season for protecting gains, not making new ones. Opinion only, not financial advice.
BITSTAMP:BTCUSDShort
by tyler_sim
Nasdaq big-time warning sign Seeing a pretty good-sized head and shoulders formation in the NASDAQ index that is now pretty well-defined. Much more well-defined than anything we saw during the COVID crash. The daily 200 SMA in pink is also now starting to roll over for the first time in a while. We already got a first fake break below the H&S neckline last month, and I think if we break below there again that may be the start of a new bear market that'll last a year at least, as most historical bear markets do. Time-wise it makes total sense as assets and common goods and services have all been hit by serious inflation due to prolonged zero-level rates, and now rates are finally on the rise again, coupled with crude oil shock due to war. Be on the lookout, but this is one of the biggest topping signs I've seen in a long time. OPINION ONLY, NOT FINANCIAL ADVICE.
FX:NAS100Short
by tyler_sim
1