ETHEREUM price above Kumo (daily),will tenak kijun follow?ETHEREUM price above Kumo (daily),will tenak kijun follow? Thanks for watching
Macdivergence
GBP/USD Daily Descending Trend line Hi Traders,
Have a look at GBP/USD on the 4-hour and daily chart today.
Having a look at the Daily time frame, we can see that price has been respecting this bearish trend line since the 20th of February 2022. We've had 5 taps so far on this giant daily trend line. Currently, it looks like the price is pushing to print its 6th tap.
Now, we don’t know whether or not this next tap will be the one to finally break us out of this bearish pressure that we have been in for the greater part of 2022.
However, if we were analyzing a trend, we can see that this trend is not bullish. Our bias must remain bearish until proven otherwise. Now, I am no fortune teller and I am not one of those traders that say that they can pick out where the exact bottom is. I only trade setups that make sense to me. So having said that, let's go deeper into the 4-hour time frame.
This chart shows that price has been pushing upwards, bouncing inside this ascending channel.
What do we look for on ascending channels? Usually, we look for a break and retest of the channel bottom. This means we are waiting for a possible bearish break of this channel with a retest of the bottom of the channel. If we see that, we can open up a short position with our targets being previous support around the 1.176 price level.
What's interesting to look for is that if this channel breaks to the downside and retests just as the price is touching or tapping the daily descending trend line, well then that gives us huge confluence to go short.
To add to that confluence, we have divergence on the MACD Histogram. As price makes higher highs within the ascending channel, we can see the histogram make lower lows showing that the bulls that are there right now might start to run out of steam and the giant daily bears might be biding their time, waiting for that perfect moment to push price back down.
To sum up my current thoughts .. Do nothing until shown a reason to jump in. I cannot force these charts and bend them to my will. Therefore, we wait until these patterns present themselves to us on a silver platter. Then, we jump in and take full advantage of the offering.
Hope you all have a fantastic Tuesday.
See you all on the next one.
The Vortex Trader.
$Shib Inverse Head and Shoulders Pattern FormingI’ve been seeing the inverse head and shoulders pattern forming since June. If thesis is valid, and BTC doesn’t take the entire crypto market down with it, we might see a recover to the 2 levels.
FTX:SHIBUSD
Elliot wave TheoryJust an idea, speculation. This could indicate another push down but the macd is still strong and it is above 50 so this can very much be wrong.
EURUSD likely to retraceEURUSD likely to retrace, the current downtrend might take a break before it resumes.
Is NASDAQ100 about to experience a BULLISH PULLBACK ?Checkout my NASDAQ 100 analysis by ichimoku and macd
DAX 40 Descending Channel On The Daily Hi Traders,
Having a look a the DAX today on the daily and 4 hours.
I have highlighted the descending channel that we have been in since mid-June. Descending channels are a great pattern and can usually present a great setup with a high risk to reward as the targets for the channel entries are usually up where the channel began.
We can classify this as a channel as we have a minimum of two taps on either side and if we adjust slightly to cover the wicks then we can say we have three taps on either side. I have shown these taps on the chart with small arrows indicating where the rice has touched the top and bottom of the channel.
I have added a line that cuts through the channel In a horizontal fashion. This line indicated previous support flipped resistance and we can see that price has respected this line. It was supported and when it flipped to the resistance we had a nice short bounce off of it. We need to see a break above this resistance to confirm bullish action.
Looking at the MACD below, we have divergence across the histogram. As the price continued to make lower lows, the histogram was trending upwards which indicated to us that the sellers have been weakening. This is usually a good sign when looking at descending channels in any time frame because once we see this partial divergence we can start waiting patiently for a break of the channel top.
Let's move on to the volume. Notice how the volume has decreased dramatically since we began the descending channel. If we see a break above the channel top, we need to see accompanying strong bullish volume.
THE SETUP
Usually, the way I would wait for a setup is, that we need to see the price break above the channel top as this is descending resistance. Once we see this impulsive break, we need to see the price close above the channel top confirming that this channel is indeed broken. As I am a patient break and retest trader and as this is on the daily time frame, I would wait for the price to come back down and retest the channel top as support before triggering a long position and trading the DAX to the upside. Targets would be around the 13700 level. This is a psychological whole number that adds confluence to the target as well as it being the price where the descending channel began.
This would be a long-term swing trade as this could take time to play out. Until we see that break, there is no point in even looking for a retest or long position in this time frame.
Until then, let's keep watching and keep our eyes open.
Hope you all have a wonderful Thursday.
See you all on the next one.
The Vortex Trader.
Double Top Pattern On AUD/USD - 4 Hour Hi Traders,
Happy Tuesday.
Today we are looking at AUD/USD
Before we get into it, can we all just acknowledge the fact that the Euro and the US Dollar is officially one-to-one. The last time this was seen was in 2002. Twenty years ago. It's quite something to see. We are living in interesting times. The DXY is still rocketing upwards. Other markets are falling. As a trader, we love volatility right. That’s our bread and butter. And because we trade constantly, we’re the first people to see these moves before the rest of the world finds out. I think we should remember not to take this ability for granted. You’ve worked hard to be where you are and thankfully if you are a consistently profitable day trader, then you can take advantage of price swings like this. The rest of the world cant. So, let's remember to be grateful every day.
Ok, let's move on to AUD/USD
We are on the 4-hour time frame.
The price has been bearish and still is. However, we may have a Double top playing out in this time frame. As you can see I have placed two arrows indicating where the tops are. I have also highlighted the neckline in yellow. The price moved straight through this neckline and is currently sitting way below it. We have very strong bearish volume at the same time.
So what I would like to see is the price slowly come back up to the neckline, which is also the previous Support flipped resistance. This is a zone that has a lot of interest so I'm happy with it being a neckline zone.
Moving to Volume, we have seen nothing but bearish volume, but what I would like to see with that possible retrace up to the neckline, is bullish volume, but we don’t want overpowering bullish volume with the retrace because that could indicate a possible reversal and we would most likely be stopped out. So we want to see bullish volume lower than this previous impulsive bearish volume we have been seeing.
Moving to the MACD, we have divergence across the two tops of the Double Top. We can see this on the Histogram. Buyers were weakening and this just confirms our bearish bias because as we are trading with the trend remember. So we are looking for opportunities to go short.
So on that note, let's watch and see what happens.
I will be seeing you all on the next one.
Hope you all have a great day!
The Vortex Trader
Gap Leading to Channel BreakWith the MACD and Stoch flashing signals of bullish divergence and a gap that has not been filled, it seems likely that MCHP is getting ready to test its channel upper bound. To reach the channel upper bound it must clear another previously two unfilled gaps, the 21EMA and 63EMA.
We are also seeing a cross in the 21Mom, Stoch crossing over sold and the MACD preparing to cross its over sold.
If todays close is above yesterdays we will also see the candle pattern Three White Soliders. Though this pattern tends to warn that the majority of the bullish move is over and waiting for a throwback might be wise.
Is INTC getting ready to break its channel?As with most stocks, INTC has been in a bearish trend beginning this year. Recently it has entered into a neat downward channel. Following the last test of the channel upper bound (denoted by the blue flag), a substantial decline occurred. This decline ended with a volume spike against the lower bound.
The last test of the lower bound (denoted by the green flag) is strikingly different than the previous. It lacked a volume spike and did not push the Stoch or MACD to new lows. In fact, during the latest retracement up, both indicators flashed signals of a bullish divergence.
It seems likely that this retracement following the latest lower bound will take us at least to the upper bound, if not break the channel.
Double Bottom On The GER40 FormingHi Traders,
I am looking at the DAX today on the 4-Hour Chart.
We may have a potential Double Bottom forming currently.
We have nice divergence across the MACD Histogram.
I'm waiting either for the price to break out of the neck zone area with impulsive bullish volume to accompany it OR for the price to head down again and form a clearer second bottom.
Either or, patience is key.
I will not enter unless that neck zone is broken and the price closes above it.
We always wait for a retrace back into the neck zone before opening up a long position.
Let's see how this one plays out.
Have an awesome Wednesday traders!
The Vortex Trader
Further decline or range trend?Hello to all members of TradingView and my followers.
As you can see, Bitcoin is currently trading at the bottom of the $19,632 range (which is also resistance).
Even though the 100-hour simple moving average is at the $20,000 level, Bitcoin's efforts to break above the $19,632 level have been unsuccessful.
In general, Bitcoin's movement is under its downward trend line.
In the previous hours, we saw that the price of Bitcoin reached $18,800.
There are two major resistances to Bitcoin right now. The first is the $19,632 level, and the second is the 100-hour simple moving average line I mentioned.
Of course, the downward trend line is also considered a resistance.
As you can see, the green histograms formed on MACD; are tied to the buy signal on the chart. Although the indicator displayed a buy signal, buyers still struggled in the market.
Bollinger Bands portray the price volatility of the asset.
Until the powerful $18,700 support range is broken to the downside, Bitcoin can fluctuate between this range and the $19,800 resistance.
If it breaks, the situation will be different, and the movement towards $17,500 will start.
If it is helpful to you, please like it. If you have a comment, I'll be happy to know. Respectfully.
CAKEUSDT | Wave Projection | Ending Diagonal Breakout / Fakeout?Price action and chart pattern trading
> Elliott Wave downtrend projection with an ending diagonal pattern - possible breakout with one more final downtrend wave C minor
> Potential reversal @ SMA50 breakout of local trend correction wave and confirmed trend reversal once breakout of Elliott channel of global trend
> Indicator: MACD bullish divergence signal
> Target Price @sma200
@Always trade with affordable risk and respect your stoploss
Swing Trading Setup For The DAX 30 – Falling Wedge PatternHi Traders,
Having a look at the DAX30 on the Daily.
We see a potential falling wedge with accompanied divergence across the MACD.
I would like to see a break and retest of this pattern before jumping in.
This is the daily time frame so this would be quite a long swing position.
It's all about patience haha.
Let's see how it plays out.
My target would be previous daily resistance.
Enjoy your Monday!
The Vortex Trader
#usdchf long4h logarithmic time-frame:
after a heavy fall, price starts to create a corrective compression moving pattern inside a downtrend channel.
we can detect bunch of RD+ divergence(bullish divergence) in many indicators such as MACD and RSI.
due to DXY and Gold prices we wait for breaking up the channel.
AAEVE falling wedgeFalling wedge on daily
Bullish divergence on MACD and a small divergence RSI
SL at ~59$
TP1 ~94.8$
TP2 ~116$
TP3 ~155$
RRR minimum 2.49
Enjoyed the ride? Get ready!4h MACD and RSI about to turn bearish
We will go down and break previous 17.5k looking for last floor
BTC/USD Head And Shoulders Pattern 4 HourHi Traders,
I'm looking at BTC today on the 4-hour time frame.
We don’t know if the bottom is in yet for this recent capitulation but that’s not my problem to solve.
I only trade what the charts show me. If a setup presents itself and fits into my list of rules and criteria, then I will jump into a position.
I'm noticing a potential head and shoulders pattern.
We have full divergence on the MACD
What I would like to see is the price close above the neck zone impulsively with substantial bullish volume to accompany that move.
I would then look for low bearish volume on a retrace down to the neck zone.
Once the price retraces deep into the neck zone, I would open up a long position
My target would be the 23.5k level
Trade safe out there!
The Vortex Trader
EUR/USD Double Bottom Daily Time FrameHi Traders,
I am looking at this potential Double bottom forming on the Daily Time Frame for EUR/USD
We've seen this descending trend line act as resistance since early February.
We can see we also have two clear bottoms with accompanied divergence across the MA lines of the MACD.
If we can see some impulsive price action accompanied by sizeable bullish volume that breaks us out of the descending trend line, ( and closes above the neck zone ), I would then wait for the price to retrace back into the neck zone before opening up my long position.
Targets would be previous price structures.
Daily chart patterns are a great way of practicing patience haha.
Trade safe out there!
The Vortex Trader
Where is VERU going?I am not a professional and don't work in finance. This is a technical analysis of the daily candles.
I think in at least the short term you are going to see VERU make a drop. This opinion is only based on the fact that the MACD just crossed over. I originally thought with the green engulfing candle that we may continue the uptrend, but the lack of volume and the cross over on the MACD solidifies for me that we will be going down.
Let me know what you think. I would love your feedback.
Double Bottom For EUR/USD 4 HourHi Traders,
I am looking at this potential Double bottom forming on the 4-hour time frame for EUR/USD
We have pure divergence showing on the MACD.
We have sellers weakening out on the histogram as well as the MA lines.
This current candle needs to close ideally above the neck zone but needs strong bullish volume to accompany it.
If we see that, then we can wait for a retracement back into the neck zone before opening up a long position.
I have used the trend-based fib extension tool to pre-determine my targets.
Target 1 – 1,055
Target 2 – 1, 06
Trade safe out there!
The Vortex Trader
New Rising Channel for BitcoinCurrently, we seem to have received rejection from ma200 in the h4 time interval. Although we seem to be holding on to the ma50 on a support basis in the same timeframe, I don't think it will make the channel valid and I think we will throw a pin below the weekly ma200 and close it on this lively average. Although the sloping channels formed in all kinds of logarithmic scales and weekly timeframes show that we are at the bottom, there is clearly a need for a sharp decrease so that we can see a sharp reaction rise. We still have not reached the goal of the bear flag formation in the big picture, and moreover, there is another bear flag that we can see in the small picture, confirming the goal of the other one.
