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Linebreak

ETC - Inverted H&S Pattern on the Line Break ChartHi Traders, Investors and Speculators 📈📉 Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Daytime job - Math Teacher. 👩‍🏫 In today's analysis, I present an Inverted Head and Shoulders Pattern on ETCUSDT . An inverted H&S is different to an Inverse H&S. Inverse H&S patterns have a straight neckline whilst Inverted H&S have a tilted neckline . If you noticed something strange about the chart, I have used the uncommon line break chart method. Three-line break charts originated in Japan during the 19th century and it is said that this technique was used in rice trading. This is another old form of charting originating from Japan along with the likes of Renko, Kagi and Heikin-ashi charts. Line-break chart was introduced to the western world by Steve Nison in his book Beyond Candlesticks. I find this really helpful to cancel out the noise and point out a clear trend. The line break chart is different to the candlesticks and as you can see, there are no wicks. Let's take a closer look at how exactly line break charts work. Have a look at image below. These are the closing prices of an asset: If you connect these closing price and draw the line, it becomes a line chart: Now, instead of connecting the dots and drawing the line chart, you can connect the two closing prices by drawing boxes: Lastly, they are filled with Green and Red. If the closing point from one box to the next is higher, the price is bullish, color of the box is green and vice versa- If the closing of the new box is lower than the previous box, the price is bearish color of the box is red: Now, back to the Ethereum Classic Inverted Head and Shoulders Pattern - I'm using the really helpful Head and Shoulders Pattern tool here on the chart, which you can find in the drobox on the left-hand side. A closer look at how to measure the ultimate target: You measure the height from the head to the neckline, and from the first resistance under the neckline you add that height to give you the estimated target: Entry rule : Do not enter on a breakout without a close above the neckline . A high number of potential inverted head and shoulders patterns often will be broken only for it to be a fake breakout in the end. When price closes the trading session past the neckline it’s an additional confirmation that it’s a true breakout. Have a great weekend 🥂. I hope you enjoyed this post today! Please give us a thumbs up 👍 _________________ Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow We thank you for your support ! CryptoCheck
Long
by CryptoCheck-
35
Bitcoin Long Supported by 3-Line-Break Buy Signal The 3 Line Break chart is also used to spot a trend reversal, like the RENKO charting system. We have a buy signal here as well. We have a "white" suite (in this case should be green) and a "neck" showing up... A "buy" signal doesn't mean that prices are moving higher, it just means that certain criteria has been met. We have a high volume breakout here and also the break above EMA10. You can use a tighter stop-loss. You must use your own strategy to trade. The candlestick signals were read before... Let me know what you think in the comments section below. Namaste.
BITFINEX:BTCUSDLong
by AlanSantana
6
VUZI Update.It looks primed and ready to go. You can enter at either one of the green areas, but my preferred method is to enter when the minor downtrend is broken on prices way back up. I would encourage you do to the same. This entrance helps build patience and makes you think about the timing and pay attention more to what price is really doing. Using the order block strategy is really good for helping your overall prognosis, but using the line breaks tells us we are reacting and following the market, and not trying to predict it. If I could have more than 5 indicators on the screen I would have the MA's up. The reason I can take this trade without the MA's present is because I know we are sitting between the 20 and the 50 from the Daily viewpoint. Additionally, I'm going to use the line break for my entry on the lower time frame, negating the necessity of seeing a crossover.
NASDAQ:VUZILong
by emehoke
How to filter out the noiseIn this post I will demonstrate one of the techniques that you may use to filter unnecessary noise from the chart. For that purpose we will use Three Line Break charting (invented in Japan) along with a Japanese trend indicator Ichimoku Kinko Hyo. Line break charts were developed in Japan and popularized here by Jewish American author Steve Nison (the man who revolutionized technical analysis by introducing Japanese candlestick charting techniques to Western traders) in his book "Beyond Candlesticks" (2009). In that book, Steve Nison unveils the mysteries of four more of Japan's most closely guarded financial secrets - Kagi, Renko and Three-Line Break charts. Three Line Break charts show a series of vertical green and red lines (bars); the green lines (bars) represent rising prices, while the red lines (bars) portray falling prices. Prices continue in the same direction until a reversal is warranted. A reversal occurs when the closing price exceeds the high or low of the prior two lines (bars). The green and red bars on the price chart are called “lines”. Second, line (bars) changes are based on closing prices, not the high-low range. Third, Three Line Break charts evolve based on price, not time. Each new closing price produces three possibilities: 1 A new line of the same color is drawn when the price extends in the same direction. 2 A new line in the opposite color is drawn when the price change is enough to warrant a reversal. 3 No new lines are added when price does not extend the trend or the change is not enough to warrant a reversal. Good luck! Roman IC Finance
Education
by ICFX
1
Where the buying took place - BTCUSD & SPY TRUE Demand ZonesThis is the Line Break Chart analysis showing true supply, demand, trend momentum, & volume correlations. The chart 90% of traders will never see... You can only see these charts as a TradingView Pro+ subscriber. Or an institutional bank trader. The blue band is my bollinger band custom setting - .382 deviation. My strategy with it is when 5 bars close above or below, thats my set-up area. I enter at a close above those 6 bars. A close above signals strong momentum. The key is to be sure to enter in the direction of the largest time frame. I use the 1hr with the bollinger bands to enter. I use the daily Line Break Chart candles to determine trend direction, signaling which direction I should enter on the 1hr. Volume is important to note because the trend began around the area of the largest volume spikes. The same people may not be buying at the same area but if we never see similar volume return into a market, we can assume the trend is dying, as everyone with big money who purchased at the beginning of the trend has sold off or is no longer interested in the asset.
AMEX:SPY
by BillionaireTomBoi
BTC - Line BreakThis is a chart of BTC with the style changed to 'Line Break' on the Daily. I looked into some charts that seemed to share better insight into upcoming moves for BTC, and this one was interesting. - Basically, once it lost the 21EMA (yellow) on the second test down, it opened up the gates to the much nastier dump to where we are now, and this coincidentally is resting right on the 200MA (white) and 89EMA (cyan). This has (so far) turned it into a green bar, indicating that there may be some upside as long as the daily closes strong. - Although there may be some upside, I expect that BTC will not manage to break through the 21EMA on the way up, because it will be staunch resistance, just like it was during 2018 after the 2017 bubble. For now, Bitcoin looks to be holding this region (the 200MA is supporting for now), and there is potential for a test up around $9000 to the 21EMA. But this will likely end up in another sell-off as there doesn't seem to be a lot of bullish momentum yet. Let me know your thoughts on this, and if you use Line Break chart, I am keen to learn some more about it.
BITSTAMP:BTCUSD
by olleyy