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ALIBABA ($BABA): Technical Analysis on daily chartHi everyone! The main trend of $BABA is bearish on the daily chart, but most of the bearish momentum has already been worked on by the market. Having said that, even in the short term I remain bearish at least up to the support area, from there I cannot exclude some Reversal Pattern (see chart below). If this happens, an update to this analysis will be necessary because before trying to take a long position I want to wait for at least one clear signal (for example, an impulsive structure on the hourly chart). POTENTIAL REVERSAL PATTERN If we look at the Daily Chart, the support area could turn into something like a Right Shoulder of a potential "Inverted Head & Shoulders". Trade with care! 👍 ...and if you think that my analysis is useful, please..."Like, Share and Comment" ...thank you! 💖 Cheers! N.B.: Updates will follow below
NYSE:BABA
by TheAnonymousBanker
OP - Similar signs to BTCWas I wrong about OP back in December? Yep. I sure was. I'm not afraid to admit it, either. Nobody is right 100% of the time and if they claim to be, they're lying to you. Alright, now that we have that behind us, lets look at OP from a purely tecnicaly perspective. I'm going to focus on the wavemaster and the momentum indicators and check the confluence they have with each other here on this 4h timeframe. The red eyes on the chart are displayed when buy or sell signals formed on both indicators. The most recent orange eye happened to occur when the wavemaster indicator signaled a sell, but the momentum indicator showed that we weren't at the top of the momentum channel (not displayed). We're also starting to see some signs of bearish divergence on these higher timeframes and we're also starting to see patterns of higher highs and higher lows with some compression evidence as well. I'd rather wait to see how the formation breaks vs trying to just simply short here and hope for the beest. If you tried to short back in December, for instance, and had no risk management, your face got ripped off completely. At least exit with some dignity and know when you're wrong. Leave the asset and move on to something else if you're wrong. You can always come back and revisit another day which is exactly what I am doing with OP now. I walked away, let it go nuts, and now I'm back watching the formation to see what is coming next. I'll continue to wait. The formation we're in typically resolves down, but we'll have to see what BTC decides to do and see if alts follow suit. Pay attention to USDT.D and BTC.D on higher timeframes. They'll give you the first clue as to what the market wants to do.
by bitdoctor
Bearish Pennant Formation on CADCHF?The CADCHF is currently forming a bearish pennant, which could signal a significant downside move if the price breaks out to the downside, toward the previous swing low at 0.66 from March 2020. This would be a similar pennant pattern (November 2022) leading to a move to the downside, with the price dropping to test the 0.68 support level. Additional downward pressure could come from further weakness in the Canadian Dollar, especially with the employment data due to be released later in the week
Short
by JinDao_Tai
2
BTCUSDT: This is the timeHello Traders! Welcome back to another post with analyst Aadil1000x. This is the pattern that I have in my mind when this accumulation/expanding triangle started. This is not the first time I am watching this pattern but we have seen this pattern doing the exact same moves that I have drawn many times before I am also adding the old post with the same pattern. Normally after a breakout, there is a strong reaction and because of that most of the time market moves back inside the pattern and sometimes after moving back it breaks the trendline which is at the top of the pattern. This time it will break the trendline which is at the top because there is huge bullish pressure and it is aiming to break 29K. This move can move up to our Next True Reversal Point which is at 29327. Same pattern in an old post Don't forget to hit the like button and follow to stay connected
Long
by Aadil1000x
7
📊 Chart Pattern CheatsheetChart patterns are visual representations of a stock's price movement over time. These patterns can provide traders with information about the stock's trend, momentum, and potential future direction. Continuation and reversal patterns are two types of chart patterns that traders use to identify potential entry points. When considering entry points for both continuation and reversal patterns, traders often use a combination of technical indicators and price action analysis. They may use tools such as moving averages, oscillators, and trendlines to confirm a pattern's validity and identify potential entry points. Additionally, traders may set stop-loss orders to manage risk and limit potential losses. 🔹 Continuation patterns Continuation patterns are chart patterns that suggest that the current trend will continue. They occur when the stock price consolidates in a certain range, showing a temporary pause in the trend. Some common continuation patterns include triangles, flags, and pennants. Traders may look to enter a long position when the stock price breaks out of the pattern, typically on higher than average trading volume. 🔹 Reversal patterns Reversal patterns, on the other hand, suggest that the current trend is likely to reverse. These patterns occur when the stock price has reached a high or low point and is likely to move in the opposite direction. Some common reversal patterns include head and shoulders, double tops and bottoms, and the "V" pattern. Traders may look to enter a short position when the stock price breaks below a support level or the neckline of a pattern. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
7
GOLD BEAR FLAG UPDATEOur GOLD BEAR FLAG literally could not have played out any better. USD strength is being bolstered by multiple good data releases but that final rate hike and impending recession is on the horizon, gold eventually will be the best buy BUT Anyone who was not expecting this drop is realistically suffering from "Over-Analysis" as this example of a BEAR FLAG is so TEXTBOOK that it could be used as a "Forex Tutorial" on what a proper bear flag should look like. From here on out GOLD is essentially in a FREE FALL. Any buyers are going to be completely and utterly demolished, until a BOTTOM is found and this bottom isnt going to come EASILY. FIB extension tells the clear story, gold has a LONG WAY TO GO FROM HERE Do not get caught on the wrong side of this falling knife. Looking to enter long term buy swings at key fib levels: 1780, 1730
GShort
by NakedTrading4U
Inverse Head and Shoulder BTCUSDBased on the current Bitcoin chart, we can see a potential inverse head and shoulders pattern forming. The neckline is around the $24,600 level, and if Bitcoin breaks above this level, it could confirm the pattern. If the inverse head and shoulders pattern is confirmed, the target price for Bitcoin would be the distance between the head and the neckline projected upwards from the neckline. In this case, that would give a target price of around $26,111. It is important to note that the inverse head and shoulders pattern is not a guarantee of a trend reversal. Traders should always use other indicators and analysis techniques to confirm their trading decisions. Additionally, the cryptocurrency market is highly volatile, and prices can move quickly and unpredictably. Therefore, traders should always use proper risk management techniques and be prepared for unexpected price movements.
Long
by Volatility90
1
j.Hejazi | USDJPY shortingAfter reaching resistance at 134.50, USDJPY appears to be forming a double top pattern with a divergence. If the closing price of a 2-hour candle falls below 133.774, this could indicate a sell signal, with a target to retest 132.800. ------------------------------------------------------------------------- Let me know your thoughts in the comments, and show your support by liking the idea. Please follow if you're interested in more ideas like this. Your support is greatly appreciated!
Short
by Candlestick_OB
1
AUDUSD AUDUSD Aussie, I am bullish the dollar short/medium term view. I have been short most of FX major pair and scaling out but we are currently stuck within range on all FX majors. The commodity FX pairs have had more downside and that is being reflected on EURNZD / EURAUD. However, overall when we look just at Aussie we are within a range and it is a break to either direction and what's beautiful about this chart, look at the trendline support - Perfect! Lows: 0.68580 Highs: 0.70165 A break to either direction. If you were to go to lower TF. There is a pattern brewing M. Have a great day ahead, Trade Journal Don't forget to trade your own plan.
by Trade_Journal
2