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Masterpattern

Elon Musk and Bart Simpson are definitely allies.#BTCUSDT #4HR #Binance #Tommy - Elon Musk is abusing the finance market. Tesla’s recent announcement that they will no longer adopt Crypto technology for their payment system, has shocked the market. - Technically, a rounded head pattern that signals the trend reversal had been formed before a big correction. Some of the similar patterns that could be interpreted as a possible trend reversal, would be Head&Shoulder, diamond, and cup&handle. - Anyhow, according to Binance BTCUSDT 4hr chart, Lower Low has been confirmed around 46K. This is not a huge gap so it could also be considered as a double bottom. In Elliott wave perspective, the current bearish momentum being wave C would be my major bearish counting. - Some of the major supports are 43900~44500(Valid until 5/19 05:00), 41500~42500(Valid5/21 13:00), and 38400~39400. - Lastly considerable resistances are located at 52300~52800, 53800~54400(Valid until 5/17 13:00), 57400~58200(Valid until 5/19 21:00), and 60500~61200(Valid until 5/23 1:00). - All of the periodic references are in Korean standard time (UTC+09:00).
by Tommy_Trader
5
GBPUSD | Pound it up dear Pound!Here are some of the major supports that I've recently found for GBPUSD. - 1.3939~1.3949, 1.3905~1.3915, and 1.3876~1.3886 Long (Valid until 5/14 04:00) EP: 1.3949 SL: 1.3935 (-14 ticks) TP1: 1.3972 (+23 ticks) TP2: 1.3998 (+49 ticks) Long (Valid until 5/14 19:00) EP: 1.3915 SL: 1.3901 (-14 ticks) TP1: 1.3929 (+14 ticks) TP2: 1.3939 (+24 ticks) Long (Valid until 5/14 19:00) EP: 1.3886 SL: 1.3862 (-24 ticks) TP1: 1.3927 (+41 ticks) TP2: 1.3944 (+58 ticks)
CME:6BM2021
by Tommy_Trader
GBPJPY | Currently in the area to expect high risk reward ratio#GBPJPY #Forex #Weekly #SwingTrades Considerable Support and Resistance Support: 140.000~142.500 (Valid until 6/24) Resistance: 154.500~156.500 (Valid until 5/31) Short (Valid until 5/31) EP: 155.500 SL: 158.600 (-3100 pips) TP1: 149.500 (+6000 pips, RR: 1.94) TP2: 144.500 (+11127 pips, RR: 3.59) #GBPJPY #Forex #Weekly #SwingTrades Considerable Support and Resistance Support: 140.000~142.500 (Valid until 6/24) Resistance: 154.500~156.500 (Valid until 5/31) Short (Valid until 5/31) EP: 155.500 SL: 158.600 (-3100 pips) TP1: 149.500 (+6000 pips, RR: 1.94) TP2: 144.500 (+11127 pips, RR: 3.59)
by Tommy_Trader
Consistent rejections... another dip before new highs? - Sharing some thoughts on BTC on 4hr chart. - The primary factor to monitor would be whether or not the bottom of the yellow upward parallel channel can successfully support BTC. It’s the red box on the chart. - If it fails supporting, BTC is most likely to get into corrective phase and at least test the bottom at $55200. - I have marked some of considerable areas to expect decent supports and resistances. - Rest of the descriptions are written on the chart above.
by Tommy_Trader
1
Legendary and unstoppable Crypto IndustryThis idea is a very vague scenario where I think Bitcoin might be rejected hard. Maybe a decent area for those traders seeking for a lifetime big-short entry spot. This technical insight has been deducted using log scaled chart. To be honest, I personally think it's a very risky idea to search for a prominent short entry. It's beyond human's capability to "predict" (a word that I hate to use in TA world) the future value of anything. Especially recent financial industry definitely made human to feel how vulnerable and weak ourselves are. Don't even try to predict future. It will only make us human being to realize how incompetent we are.
BITMEX:BTCUSD.P
by Tommy_Trader
Bitcoin. More correction?#Bitcoin #XBTUSD #Daily #Tommy - Here is XBT daily chart. After a massive bullrun up until 42k, Bitcoin has broken the blue upward trendline below and has been on its correction phase. - Making lower highs and lows, it is currently forming a falling wedge. Moreover, it’s testing the support of the inner upward trendline which I have marked it with yellow dotted line. - At the same time, it is testing the short-term bottom around 30400. It has been a great support for last few days but doesn’t seem that it will last long. - So for those traders waiting for more correction, make sure the daily candle closes under both the yellow inner trendline and the 30400. - In Elliott Wave theory perspective, I have interpreted the correction structure as WXY where another 5-3-5 zigzag ABC correction waves are to be expected. - Here are some of the supports that I am considering. 26500~27500 (valid until 2/4) 23500~24500 (valid until 2/6) 19300~20300 (valid until 2/11) - Traders wishing to enter long on these supports, make sure to consider the validation date.
BITMEX:BTCUSD.P
by Tommy_Trader