Pattern
GALAUSD long positionOn the chart we can see the fractal pattern. The price has already broken the supply line and is approaching the next resistance where we are expecting rejection and further consolidation before going higher.
The entry, the target, take profit levels are shown on the chart.
Good luck.
🔥 Arbitrum Bullish Channel ConfirmedAfter an initial period of sideways trading, it seems that ARB has finally found the way up. When we connect the two local tops and two local bottoms we can clearly see a bullish channel on the chart.
Seeing that BTC is currently going parabolic, I can definitely see volatile alts like ARB seeing big gains over the next days/week.
For now I'm looking at 1.60 and 1.80 as my initial targets, potentially even te top of the channel.
🔥 Where Are The Bitcoin Bears? Over the last week I've made a couple of analyses on BTC and the rising wedge pattern it was trading in. In my last analysis I expected some kind of oversold bounce into a new sell-off.
Seeing that we've moved almost 9% in less than 24 hours makes me question whether we should look for going short.
My bounce area (blue) has been reached, but we're blasting through it. Seeing that we're currently reaching overbought levels on the 4H timeframe, today's a make it or break it day for the bears.
If Bitcoin bears can't push through and move us back down, I see it likely that BTC will make a new local top, target at 32,000 for now.
Let's see what today will bring.
EURUSD Short M15,M30 and H1 are Overbought
There are multiple type 2 patterns
a lot of resistance
H4 double top
GBPCHF Short M15,M30 and H1 are Overbought
There is a pattern on M15
This is with the H4 trend
There is a lot of resistance at this level.
Wealth Unleashed: Wedge Pattern Power - Hidden Gem Revealed!Introduction:
Are you looking to skyrocket your trading profits? Look no further! Today, we will uncover the hidden gem of trading patterns: the Wedge Pattern. This powerful tool has the potential to transform your trading strategy and help you achieve financial success. Let's dive into the world of wedge patterns and explore how you can capitalize on their power.
What are Wedge Patterns?
Wedge patterns are popular among traders due to their high probability of forecasting trend reversals. These patterns appear when the price of an asset consolidates between converging support and resistance lines. There are two primary types of wedge patterns: the rising wedge and the falling wedge.
Rising Wedge:
In an upward trend, the rising wedge is considered a bearish pattern. It forms when the price consolidates between an upward-sloping support line and an upward-sloping resistance line that are converging. As the price approaches the apex of the wedge, the upward momentum weakens, signaling a potential trend reversal to the downside.
Falling Wedge:
Contrary to the rising wedge, the falling wedge is a bullish pattern. It appears in a downward trend when the price consolidates between a downward-sloping support line and a downward-sloping resistance line that are converging. As the price nears the apex of the wedge, the downward momentum loses strength, indicating a possible trend reversal to the upside.
Trading Strategies:
To capitalize on the power of wedge patterns, follow these steps:
✅Identify the pattern: Observe the chart for converging support and resistance lines to spot a rising or falling wedge pattern.
✅Confirmation: Wait for a breakout from the wedge pattern, either above the resistance line (for falling wedges) or below the support line (for rising wedges).
✅Entry point: Open a long position after a breakout above the resistance line in a falling wedge, or a short position after a breakout below the support line in a rising wedge.
✅Stop-loss and take-profit: Set your stop-loss order below the breakout level (for falling wedges) or above the breakout level (for rising wedges). Establish your take-profit target at a level that aligns with your risk-reward ratio and trading plan.
Conclusion:
The wedge pattern is a hidden gem that can potentially boost your trading profits when used correctly. By mastering the art of identifying and trading wedge patterns, you can strengthen your technical analysis skills and increase your chances of success in the market. Remember, no single tool guarantees success, so always use additional technical indicators and maintain a disciplined approach to risk management. Happy trading!
Double top H4 GBPJPYAs you can see a double top formed on a 4H TF
We have to wait and see if price resists or break above the A.O.I "Area Of Interest".
Scenario 1
If price breaks above the "A.O.I" level the double top pattern is invalid and price could form a Triple top
Scenario 2
If price resist the "A.O.I" level then we have to wait for price to reach the neckline for a clear Sell position
W pattern in wipro (very bullish)Wipro made w pattern at the bottom of the chart which made it very bullish for future.
Buy it at above 380 (candle close above third level)
Target 386.95 394.50 400 408.20
Sl 367
🔥 HOOK Bouncing From Strong Support!HOOK has yet again reached the bottom support. I've made several analyses on this pattern already, and every time that HOOK touched the support it has resulted in a bounce.
Keeping my targets close, blue, because BTC can move erratic during Q2 earnings week.
🔥 ATOM 10 Month Triangle Break Out: Weakness IncomingIn my last ATOM analysis I already talked about this triangle and that I expected some kind of bounce. My initial target was the top resistance of the triangle, but after a 15% move we fell back down.
Since we've now fallen through a 10-month support, I think that we're going down more.
I'm looking at 10 and 9 usd targets.
$SE #SE how low is going this week .. #opportunity being with NYSE:SE from IPO times one could guess importance of this company on many other levels , not just trading it to profit , but to grow your position on every dip
I use to my advantage simple indicators to achieve just that , using similar to DRIP account I was able to accumulate 677% , with kind free" cash anyone can play this stock as a reserve bank for other use in trade larger cups
"BIG SWING IN EUR/CAD" !Here EUR/CAD market is making poll and flag pattern after that market showed a good move by taking its breakout and then rallying with a good retracement so we can see a good swing target or a good long movement in this But before taking entry in this, consult your financial advisor.
🔥 APTOS Preparing For Further Drop: Ideal Bounce Area LocatedAPT has been in a steady decline since late January. With BTC taking a more bearish stance, it's to be expected that APT will also drop further.
Long-term, I'm still bullish on APT. However, there's little technical reason to buy now.
I'll start to be interested again once APT reaches the bottom support of the channel. Note that the bottom diagonal line is a direct copy of the top line, which makes it a perfect parallel channel.
Ethereum head and shoulders pattern Could we be seeing a possible head and shoulders pattern forming here with Ethereum? If so we could see price push up to HKEX:1910 before it falls down to $1567.
🔥 Bitcoin Rising Wedge: Oversold Bounce IncomingIn my most recent BTC analysis I talked about the rising wedge pattern that was formed and my bearish short-term view on the market. Both targets have been hit, with 27,200 marking the bottom area. Congratulations if you took the trade!
Bitcoin is currently oversold at the longer time frames like the 4H and 8H. Consequently, I'm expecting some kind of bounce in the coming 1-2 days. Ideally we will move towards the blue area where some heavy resistances lie. This would be an ideal area for the bears to short.
With the stock earnings season being much weaker than anticipated, the risk is currently to the downside. So, I'm not expecting that this is the bottom yet.
26,500 is my next target. Keep in mind that we're currently still trading in a long-term uptrend, so it might be a perfect moment for bulls to pile in, which is currently what we're seeing on quite some alts.
As explained in my Elliot Waves analysis, I see it more likely that we will go down more, simply because the supports around 25,000 are much stronger.
🔥 Bitcoin Following Elliot Waves Pattern: Fourth Wave Started?Over the course of the last few weeks I've made several analyses on BTC and the Elliot Waves pattern it's potentially trading in, see below for the most recent one.
In my previous analysis I argued that there was reason to believe that the third wave topped because we were trading inside a very important area of resistance and the RSI was touching the overbought area.
And here we are. We gave away all of last weeks gains and things are looking bleak in the near-term.
It's difficult to predict where the 4th wave will bring us, but the 25,200 support is the strongest support area in sight, so I'm holding on that area for now.
Immediate future looks bearish, but there's still a decent probability for a next wave up.
Share your thoughts🙏
Note on the lengths of the waves: take them with a grain of salt and not as an exact science. I'm merely attaching them to important areas of resistance.
🔥 A Simple BTC Guide On How To Sell The Top And Buy The BottomPeople say that timing the market is difficult. But is it really?
The monthly Bitcoin RSI seems to be following a very predictable pattern since its inception back in 2011. Actually, the pattern is so predictable that we can draw a perfect channel onto it.
Bitcoin tops around the time that the monthly RSI hits the top resistance, and bottoms once it hits the bottom support. Sure, you won't catch the exact top or bottom, but neither do 99.999% of traders.
If you will buy around the area where the RSI hits the support and sell around the time the RSI hits the resistance you will still be outperforming the vast majority of traders.
For the next cycle, I'm simply going to assume that we're going to top somewhere around the time that the monthly RSI hits the top resistance.
What are you favorite top / bottom indicators? Share them with the community 🙏
🔥 GALA Huge Triangle Breaking OutIn my most recent GALA analysis I talked about the fact that I expected the bottom support of the triangle to hold. The target was the top resistance, which has been hit yesterday!
For now, I'm going to be patiently waiting for the break out to confirm on higher timeframes. We've got a fake-out yesterday, so enough reasons to be careful.
Two blue lines are my targets.
Counting a Pattern An idea that I am using counting this inverted head and shoulders pattern.
I have outlined all the points on chart.
Kind of look at the chart with a slight left tilt to your head and you will see the H&S perfectly.
This might be a bit of an outlandish idea so let me know what you think.
Bix
Audusd higher prices i have sent out weekly forecast on this one i have more updated pattern as the week goes by we see more looks clean i don't think it will break to the down side because of strong resistance also htf suggests bullish condition
🔥 DOGE Regaining Strength After Twitter Icon UpdateIn my last DOGE analysis I talked about the fact that Elon Musk updated the Twitter logo to the Doge icon, which naturally has led to a big move upwards. However, like often has happened, DOGE dumped right after the bullish news. Still, my first target got hit fairly quickly, so congratulations if you took the trade.
Inititally, I thought that DOGE would go down further. But, as seen on the chart, the bottom support held and caused a decent bounce.
Furthermore, Twitter has recently started a partnership with eToro to integrate trading into the platform, which is bullish in itself.
If Elon wishes to pump his Doge bags further he could integrate Doge as a way to pay fees (like BNB for Binance), for example. Decent probability that Doge will be further integrated into Twitter, which would obviously be bullish for the token.
Keep an eye on Doge!
🔥 HOOK Channel Bounce: New Highs Coming?A couple of weeks ago I made an analysis on HOOK and the channel it was trading in. My expectation was that we'd see some kind of bounce, which has now occured yet again.
I'm looking for a move towards the blue target areas. HOOK saw an amazing start of 2023, so investors' interest is certainly there.
