13.09.24 Morning ForecastPairs on Watch -
GBPCHF
NZDUSD
EURUSD
A short overview of the instruments I am looking at for today, multi-timeframe analysis down to what I will be looking at for an entry. Enjoy!
Pattern
NASDAQ Short All timeframes are overbought
There is a pattern on M15
This is with the H4 trend
50 pip stop loss
LINK Long-Term Entry OpportunityLINK has recently touched the bottom purple support again. After 4 touches, this support seems to be an important level for traders.
To optimize our entry, we're going to wait for the price to touch the support again in the coming weeks. With a stop below the recent fear-low and a target around the current all-time high we can construct a very decently bullish trade.
Keep in mind that it's a risky bet. BTC is slowly bleeding and alts overall look bad. However, a R/R over 20 when trading from an established long-term support is worth a bit of risk.
Bitcoin: To the Moon? | Analyzing the '3 Market Phases'Hello everyone!
Bitcoin is currently displaying the '3 Market Phases,' and we’re transitioning from Contraction into Expansion. As long as the price holds above the lower boundary of the horizontal channel, I believe there’s a strong likelihood of continued upward momentum.
Key points:
Break below the channel: A breakdown could signal the beginning of a significant downtrend. However, if the channel holds, the uptrend is expected to persist.
Uptrend continuation: There’s a solid chance we could see a rise toward the 63K level.
This is not a buy or sell recommendation.
It reflects a personal viewpoint and is intended for reference only.
All decisions and responsibilities lie solely with you.
TAO Bullish Inverse Head & Shoulders: Patience is Key!TAO has been forming a bullish head & shoulders pattern over the last couple of months. The pattern is still not complete, so be patient for it to complete.
If you're confident that this pattern will play out and the market will reverse, take a look at the higher risk trade I put on the right. Tighter stop, so higher potential profit!
ID: Best Entry Is Here! Swing Trader's DreamThis analysis is a follow-up on my previous ID post.
As of this week, ID has successfully touched the bottom support and reversed from it. Too early to tell whether this is a long-term bottom, but at least the support held strong.
If you were ever considering to buy ID, this is the time.
All About the Flag Pattern (Beginner-Friendly)Hello everyone,
Today, I’ve prepared an educational guide on chart patterns, specifically focusing on the Flag Pattern.
This content is designed to be easy for beginners to follow, so I hope you find it engaging and informative. :)
Below is the outline I’ll be using for this post:
————
✔️ Outline
1. What is a Flag Pattern?
Definition
Key Components
Characteristics
2. Bullish Flag Pattern
Basic Characteristics
Examples
3. Bearish Flag Pattern
Basic Characteristics
Examples
————
1. What is a Flag Pattern?
1) Definition
A Flag Pattern forms during a brief consolidation phase after a strong price movement, often signaling the continuation of a trend. It typically appears when prices make a sharp move, either up or down, followed by a period of sideways or slightly counter-trend movement.
Flag Patterns can occur in both uptrends and downtrends, named for their resemblance to an actual flag. After a strong price move, the market consolidates briefly before continuing in the original trend direction.
2) Key Components
Flagpole: The initial strong price movement that sets the overall trend direction before the consolidation phase.
Flag: The consolidation period where prices move sideways or slightly counter to the trend, often forming a rectangle or parallelogram. This phase typically occurs with a decrease in trading volume.
Breakout: The moment when the price resumes its original trend direction. In an uptrend, this is an upward breakout, and in a downtrend, a downward breakout, confirming the continuation of the trend.
3) Characteristics
Duration: The Flag Pattern typically lasts longer than the Flagpole but varies depending on the timeframe.
Volume: Volume usually decreases during the Flag’s formation and increases once the breakout occurs.
Reliability: The Flag Pattern is considered a reliable indicator of trend continuation, making it a favorite among traders using trend-based strategies.
————
2. Bullish Flag Pattern
1) Basic Characteristics
A Bullish Flag forms after a strong upward price movement, signaling a temporary consolidation phase. During this consolidation, volume typically decreases, suggesting that the market is pausing rather than reversing. After this phase, the price often continues its upward trend, accompanied by an increase in volume. Bullish Flag Patterns also help relieve overbought conditions in technical indicators, providing the market with a chance to prepare for another move up.
2-1) Example 1
This chart from May 2023 shows a strong Flagpole followed by a long consolidation phase (Flag). The volume then increased as the price broke out, completing the Bullish Flag Pattern.
2-2) Example 2
In this chart from March 2021, we see a similar setup: a strong Flagpole, followed by a consolidation phase, leading to a breakout that continued the upward trend.
————
3. Bearish Flag Pattern
1) Basic Characteristics
The Bearish Flag Pattern is the inverse of the Bullish Flag. It follows a strong downward move (Flagpole) and is followed by a period of consolidation (Flag) with decreasing volume. Like its bullish counterpart, the Bearish Flag can relieve oversold conditions, leading to a continuation of the downtrend after a breakout.
2-1) Example 1
This chart from May 2022 displays a Bearish Flag Pattern: a strong downward Flagpole, followed by a Flag consolidation phase. After the consolidation, a breakout occurred, continuing the downtrend.
2-2) Example 2
This chart from February 2022 also illustrates a strong downward Flagpole, followed by a consolidation phase (Flag), leading to a breakout that completed the Bearish Flag Pattern.
This guide will help you better understand the Flag Pattern and how it can be used in your trading strategy effectively!
————
✔️ Conclusion
I hope the various Flag Patterns and market analysis techniques covered in this post prove helpful in your investment journey. Chart analysis is not merely a technical skill but also a deeper understanding of market psychology and movement. Flag Patterns, along with other chart patterns, visually reflect the psychological dynamics of the market. Mastering their use can greatly contribute to successful trading.
That being said, the crypto market is inherently unpredictable and fast-moving. While technical analysis is a valuable tool, it’s important to adopt a comprehensive approach that considers broader market trends and external factors. I encourage you to apply the insights gained from this post with a balanced and cautious perspective when making investment decisions.
New opportunities are constantly emerging, and those who are prepared to seize them will find success. The chart represents the market’s voice. Listening to it, interpreting it, and making informed decisions based on that interpretation is "the essence" of chart analysis.
I sincerely hope that, through continuous learning and experience, you’ll evolve into a more confident and successful investor.
ATOM: Signaling Further Market Decline?In this analysis I want to take a closer look at the state of the market. ATOM Was a decent performing token in the previous cycle, but it sadly failed to impress investors this cycle.
Most striking is that ATOM is one of the few alts which has actually made a new bear-market low. This token has never entered a bullish phase like most tokens did and has basically made lower-lows throughout.
This token had a 5B marketcap just a few months ago, so we're seeing some serious money leaving this token. Naturally, there's something going on in the background which amplifies the sell-off, but I'm looking at it as a potential signal that the alt market is currently in a bad spot.
There's a lot of alts that are currently not far away from their bear-market lows. If we see more and more making fresh lows it could be an indication that more selling is yet to come.
This Bitcoin Dump Is Normal - But For How Long?In this analysis I want to take a look at the BTC_ATHDRAWDOWN indicator, which tells us how much percent BTC is trading under the current all-time high. Every time that BTC makes a new all-time high this indicator reaches a value of 1.
As seen on the chart, BTC has seen a lot of big drops during bull-markets. Most of these drops have reached the yellow area (which reaches from -20% to -27%). This is "normal" and not something we have to worry about.
What we have to worry about is when BTC goes from 1 to something below 0.27. Historically, this as signaled that either the cycle is over or that we're in for a prolonged period of bearish price action.
Like I mentioned in my previous analyses, bulls have to start buying again in the very near future. If BTC continues bleeding like it does now there's a high probability of dropping even more.
EURAUD Short There is a pattern on M15
All timeframes are overbought with double tops
This is with the daily trend
stop loss is 40 pips
Bitcoin In DANGER: Price Band ReversalIn this analysis I want to come back to an analysis I made back in March and June this year. I talked about my Logarithmic Price Bands indicator and how it has successfully predicted a BTC top around in the yellow band.
Over two months after the analysis, the price has fallen through the yellow price band again.
It's looking like BTC is losing upward momentum quickly. The final nail to the coffin of the bullish trend would be some sort of -10% or larger drop in a single day. Stocks are also eyeballing a recession risk with the bond yield inversion un-inversing, so it's not far-fetched that BTC can drop 30%-40% from its current value.
The long-term trend is still relatively bullish, but we can't have too many weeks more of this slow bleeding, it's killing momentum and interest, which is bearish.
Ideally, one would start scaling in once the price reached the green area, which is currently located between 18k - 41k. I highly doubt BTC will go below 30k again (looking at the BTC dominance), but you never know.
Bulls have to really start showing some force. Not just a few days of +1% or +2%, but a real >10% break out to stop this 6-month pattern of bleeding.
Share your thoughts!
Unlock Winning Strategies: Spot High-Probability Trades!Chart Analysis: XAU/USD (Gold Spot vs. USD)
Based on the two charts you have provided, here is a detailed technical analysis of XAU/USD using price action and chart pattern observations:
1. Weekly Flag Trendline (Higher Time Frame Context)
The upper and lower yellow trendlines represent a possible flag pattern on the weekly chart. This suggests a consolidation phase after a strong impulsive move. A flag pattern typically signals a continuation of the previous trend, which, if the context is bullish, indicates that after consolidation, there may be a continuation to the upside.
On both charts, we can observe that price action is contained within this broader structure, indicating that price is in a correction phase rather than an impulsive phase.
2. Key Horizontal Levels
2,532.144 and 2,506.245: These levels act as strong resistance zones. The price has struggled to break above these levels multiple times, indicating significant selling pressure or profit-taking at these points.
2,471.313: This is a key support level. The price has reacted to this level before and, most recently, has bounced back after testing this support zone. This suggests that buyers are willing to step in at this level, providing a floor for the price.
3. Descending Channel and Price Action Patterns
Descending Triangle/Channel Pattern: On the 15-minute chart, the price seems to be forming a descending triangle pattern (lower highs and a flat support at 2,471.313). This pattern is typically bearish, suggesting a potential breakdown if the support does not hold.
Potential Reversal Patterns: After testing the lower trendline of the weekly flag pattern and finding support at the 2,471.313 level, there was a notable bullish reaction. This can imply a short-term reversal, especially if confirmed by a break above the minor resistance level of 2,494.370.
4. Consolidation Zone and Lower Time Frame Patterns
The 15-minute chart shows a clear consolidation pattern after the sharp decline, with price action currently moving sideways between 2,494 and 2,506. A break above this consolidation range could signal a short-term bullish continuation towards the upper resistance levels, while a break below would imply a continuation of the bearish trend observed previously.
5. Breakout and Pullback Zones
The yellow dotted lines on the 15-minute chart indicate key areas where the price broke out from consolidation phases. These areas are crucial for identifying potential entry points in a trending market. If the price retests these zones and finds resistance or support, they could act as triggers for either continuation or reversal trades.
Trading Strategy Considerations
Bullish Bias: Traders with a bullish bias might consider waiting for a breakout above the 2,506.245 resistance, looking for a confirmation with a pullback to this level as support. The target could be the upper boundary of the flag around 2,532.144 or higher, depending on momentum and broader market conditions.
Bearish Bias: A trader with a bearish outlook might wait for the price to break below the 2,471.313 support level, looking for short positions targeting lower levels aligned with the descending channel's trajectory.
Range Trading: Given the current consolidation between 2,494.370 and 2,506.245, range traders could look for entries at the edges of this range with tight stops and defined profit targets within the range.
Conclusion
Given the price action analysis and current chart patterns, the XAU/USD market appears to be in a consolidation phase within a broader flag pattern. This suggests that while the immediate outlook may be neutral to bearish, there is potential for a bullish breakout if key resistance levels are breached. Traders should watch for confirmed breakouts or breakdowns from these levels to guide their trading decisions, keeping in mind the broader market trend and any fundamental drivers influencing gold prices.
Ethereum 8-Year Rising Wedge: Bearish Break Out!In previous ETH analyses I talked about this huge 8 year wedge pattern on the ETH chart. Where my initial takes were bullish, we've seen a bearish break out as of last week.
From a neutral point of view, this is 100% bad news. ETH will likely fall more and move towards the 1000$-1500$ area (yellow).
Might be a hot take, but most alts have been performing extremely poor recently and are down 60%-80% from their 2024 tops. Bitcoin is holding up relatively well, but that's because the BTC dominance increased by a factor of ~1.4x this year. Money is flowing out of alts (including ETH) and moving to stables and BTC.
What do you think? Will ETH drop more, or go back up?
GBP-JPY Bullish Triangle Pattern! Buy!
Hello,Traders!
GBP-JPY is trading in an
Uptrend and the pair has
Formed a bullish triangle
Pattern so IF we see a
Confirmed bullish breakout
Then a further bullish
Continuation is to be expected
Buy!
Like, comment and subscribe to help us grow!
Check out other forecasts below too!
Dop1 / Usdt BYBIT:DOP1USDT
Dop1 is currently trading at $0.003317 and is forming an inverted head and shoulders pattern, which is often interpreted as a bullish reversal signal. In this pattern, the current price is at a critical resistance zone. If the price successfully holds at this level and breaks through, the next resistance targets to watch are $0.00399 and $0.00500.
The inverted head and shoulders pattern typically suggests that after a downtrend, the price may be poised for an upward move if it confirms the pattern by surpassing the resistance levels. However, since Dop1 is described as a risky coin, it's essential to approach with caution.
**Disclaimer:** This analysis is for informational purposes only and is not financial advice. Investing in volatile assets like risky coins involves significant risk, and you should conduct your own research (DYOR) and consult with a financial advisor before making any investment decisions.
SOL Waiting For The BEST Entry: Bullish TriangleSOL has been trading inside this triangle pattern since practically forever. I'm not calling for a bearish move here, I'm only sharing my view from where I will enter if we continue to go down.
The bottom support has been holding on 4 seperate ocassions, my assumption is that it requires a lot of power to fall through, since bulls will be buying from there.
Ideally, SOL will move back up to the top resistance, or even better break out of it.
GOLD - Big Move Pending...Gold is trading at KEY AREAS.
It is currently in a key RESISTANCE box/level with an ascending trend line supporting the bottom of the candles, which helps to present LONG opportunities.
For LONG opportunities i'd like to see XAUUSD break the key RESISTANCE LEVEL, or bounce on the ascending trend line where it would then look to retest the resistance zone.
For SHORTS i'm looking to see a strong large VOLUME rejection off the RESISTANCE zone, then a BREAK OF TREND LINE.
Ethereum: Watch This Channel!ETH has been trading inside this channel for over two years now. After the recent touch of the support, the support has solidified itself even further. Note that the support is a more clear-cut line, while the resistance is more an area.
Another touch of the bottom support would potentially be great news for the bulls, hence the signal on the chart. Seeing that we already touched it recently, we can use the wick as a clear stop level. Target placed at the top of the channel, $5000. This will create a great trade with a RR of 8.5.
Keep in mind that the support could potentially also break down. This would indicate a long-term bearish shift in trend.
Bitcoin Quick Bullish Channel Set-Up: Trade The Wave!In this analysis I want to take a look at the bullish channel that BTC has been trading in for around 3 weeks. The bottom support and top resistance are perfectly matchin price action, so my guess is that a lot of traders are looking at this set-up.
I anticipate that BTC will reverse from this point. Unless the stock markets break down, the chart is clearly suggesting a reversal.
To minimize potential losses we keep a tight stop. Target at the top resistance. When doing this we can create a decent trade with a good R/R ratio as seen on the chart.
Bitcoin Is Perfectly On Track This CycleIn this analysis I want to take a closer look at Bitcoin's current bull-cycle and compare it with the previous cycles. I count from December 2011 onwards.
As seen on the chart, the first cycle (yellow) is an outlier in both duration and growth. We will likely never experience something like that again.
The most interesting cycles to compare the current cycle to ar the second (blue) and the third (purple).
As Bitcoin matures as an asser, it will likely experience diminishing returns. In other words; lower total gains from bear bottom to bull top.
However, cycle 4 is outperforming both previous cycles at their respective times. The most logical explanation would be that we had the BTC Spot ETF this year, which caused massive bullish pressure from institutional investors. Chances are that we have to endure a couple more neutral/bearish months in order to get below the blue and purple lines before we can see any substantial growth to >100k.
All in all, this cycle is on track with the previous cycles. If it were to follow the last two, we can expect BTC to top somewhere in the last quarter of 2025.
Happy to hear your thoughts!
USB Stock Short All timeframes are massively overbought
There is a pattern on H4 and H1
This is a weekly high where there is a lot of resistance
Since it is against the trend I would normally not go for such a trade but stocks look like they need to come down so this could be a trade
tight stop loss and take profit when it hits the H4 trend as this is still very uptrend
Quick EURAUD Short This trade is with both H4 and H1 trend
there is a pattern on M15
triple top with divergence
quick trade just to get easy money
ID Parallel Channel: Huge Risk RewardID has been trading inside a parallel channel for well over a year. The channel got confirmed after the price bounced from the lower support at the start of August.
With a stop just below the August lows and a target at 2.50 we can construct a very strong trade with a high risk-reward. Naturally, this trade assumes that the bottom is in for now.
Risky, but the potential pay-off is huge.
