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Educational (divergence + volume)Hi guys, in order to spot a divergence you should be careful which timeframe you're looking at. for example in the left picture, the daily timeframe is showing higher highs in price (at each candle) and lower highs in RSI (at each candle). but note that these are not highs and lows and as long as you can't find signs of accumulation and distribution in highs and lows (as long as there's no valid consolidation) you can't name them as highs and lows. so there's no divergence. but in the lower time frame (what is shown is 4h) you can see it more clearer that for every candle in the daily time frame, you have a specific trend in the 4H timeframe. so you can name them as highs and lows and yes, there is a divergence now. also, keep in mind that in the lower timeframe. every time you're making a new high in rsi, you should expect it to be more volatile and be more sensitive in a way that in the next new rsi high, you have less time spent in the overbought area. The next part is about the volume profile. you have less resistance in front of the price movement where there is less volume traded in the past. BUT NOT ALWAYS! less trades made in the past in an area means two things: 1- you can expect the price to move faster and sharper and take less time in that area 2- if the price wants to make a low or high or a pattern, it's less predictable and there's more chance of wrong analysis and fake patterns. Feel free to leave any comments and ask questions!
Education
by Finnovin
ADSK - Still Dropping - BearishOn the chart of Autodesk(ADSK) we can see a double top pattern. For the whole year of 2022 ADSK has been in a downtrend and it is likely to continue in 2023. The double top pattern is a bearish pattern. Once the price breaks down the neckline and turns into a resitance instead of a support the pattern gets validated and the trade can be entered. Take your profits and the target can be targeted. All further details are shown on the chart. P.S. Enter short position only if/when the price breaks the neckline! Goodluck!
NASDAQ:ADSKShort
by vf_investment
BTC bullish playout!So, as many find this as the beginning of the bullish trend , I would like to support this idea with my views on how can this play out and some cautions. So we see the bullish cross on the weekly MACD , we still should not be overbullish as MACD is below the zero line. Daily MACD is still bullish and 4H as well. By saying that 4H is bullish I mean that the price is holding or slightly decreasing for a short period of time or even increasing when 4H MACD is dropping. The same MIGHT happen with the Daily MACD . and if th COINBASE:BTCUSD is happens this will support my idea of the reaccumulation zone before a breakout, the real beginning of the trend. Also stoch RSI , and other indicators support the idea of the beginning of the bullish trend . HOWEVER, we should pay attention to things why we may still be cautious: 1) most people are getting super bullish , however, fear and greed index is not topping out any time soon 2) price can easily drop to 20k or below which might be retest of the support, but many may start to panic. So, with all said i would like to say how it is possible for price to play out in the nearest future. As some people see how bullish momentums get or are about to get now, i believe we are not breaking 25k until next months. On a monthly scale we already have a solid green candle. So if we take the rest days of this month just fluctuating in the zone it should be a good sign. Next month could start bullish at once OR may retest the support zone around 20 ( mb slightly below) or around 21.2k e.g. This still would be in a bullish frame. but may fear some bulls. In a nuthsell, i wait for a monthly candle to close first. It might close around current levels (22.8-23k) and would be good. Next months either start with a mega bullish momentum after a few daily bullish candles or with a sudden retest drop. Both are fine. If you are not holding any bullish position i suggest u take one on a monthly close. You may want to add , at some retests, if they happen around 20-21k, or even below that at 18k spike drops. But once next monthly starts being green again, supported by weekly and daily green candles, this might be a safe zone for longs. I would pay attention on the RSI breakout patterns, both MACD and RSI to confirm bullishness. What are the price targets? Right now its definitely 25-26k. We may also pierce that fast and come to around 27-28k. But things may get more bullish so we never know where the local top may be. It may go even to 47-50k. BUt for now 30kish zone might be a local resistance and a juicy place for profits. But even when people close their long positions, this is the time when the price can get even more bullish , since u borrow dollars to buy bitcoins to close those perpetual contracts.
BITSTAMP:BTCUSDLong
by judg1k
1
BTCUSDT: Bulls are still in controlHello Traders! Welcome back to another post with analyst Aadil1000x. This Analysis is the correct version of the previous Analysis. On Jan 22nd I posted the Analysis of BTC which I analyzed out of excitement where I pointed out a set of multiple patterns in a single pattern or is a beauty of the market that tricks the eyes and put us in an illusion. Those who put a set of patterns in single patterns are making a mistake. Once the pattern is broken towards both sides then its strength is over and the market will look for new patterns. If we look at the final pattern in the zone which is expanding triangle Market breaks it towards the downside but it failed to break towards the upside. Now after a Huge dip market is coming back to break that line and it will be the end of the bulls. After breaking unbroke line market will form a reversal pattern. We will short after the reversal pattern is complete. There is a chance that the reversal pattern will be big and can extend to 29327 True crash point. TCP will work with pinpoint accuracy as it is newly designed and has huge potential. Don't forget to hit the like button and follow to stay connected.
by Aadil1000x
Learn a Triple Top Pattern | Classic Reversal Pattern You Must 🟢What is the Triple Top Pattern? A triple top chart pattern is a bearish reversal chart pattern that is formed after an uptrend. This pattern is formed with three peaks above a support level/neckline. The first peak is formed after a strong uptrend and then retrace back to the neckline. The formation of this pattern is completed when the prices move back to the neckline after forming the third peak. When the prices break through the neckline or the support level after forming three peaks then the bearish trend reversal is confirmed. 🟢Trading the Triple Top There are some rules when trading the Triple Top chart pattern. ✔️Firstly one should identify the market phase whether it is in uptrend or downtrend. As the triple top is formed at the end of an uptrend, the prior trend should be an uptrend. ✔️Traders should spot if three rounding tops are forming. ✔️Traders should only enter the short position when the price breaks out from the support level or the neckline. 🟢Stop Loss In the case of a Triple Top chart pattern, the stop loss should be placed at the third top of the pattern. 🟢Price Target The price target should be equal to the distance between the neckline and the tops, also taking into the account the key levels below. Like, comment and subscribe to boost your trading! Hey traders, let me know what subject do you want to dive in in the next post?
OANDA:XAUUSDEducation
by TopTradingSignals
11
Rectangle Pattern In EUR/CAD With Tutorial On How To Trade It Rectangle pattern Consists of Up trendline + strong resistance in order to know where the price will go next just check where the price will break first * if the resistance is broken : you can wait for a good retest and enter a buy trade as this will help in having a small stop loss * if the tendline is broken also wait for a retest to enter sell or you can wait for the final higher low to be broken to confirm the movement to the downside
by Forex_Wealth_Factory
NZDJPY - Combo TradeWe could be a bit early for this 5-0 Pattern trading setup. That is because the daily chart has not confirmed; the candlestick pattern confirmation is required. I pull the trading confirmation of the 1-hourly chart. This is a trading management I've been using and refining for the past 5years. There are 2 kinds of trading management for the such combo. ComboTrade - Valid trading setup off the higher timeframe, but we engaged the trade on the smaller timeframe UpsizeTrade - Valid trading setup on the smaller timeframe and final target stretch to complete the higher timeframe. Both are high-risk trade management, which means the chances of stop-loss being hit are higher, but the profit factor(reward) is amazing. Of the two selections, upsize trade has the higher risk.
Short
by RaynLim
🔠 The ABCD PatternThe ABCD is a basic harmonic pattern. All other patterns derive from it. The pattern consists of 3 price swings. The lines AB and CD are called “legs”, while the line BC is referred to as a correction or a retracement. AB and CD tend to have approximately the same size. A bullish ABCD pattern follows a downtrend and means that a reversal to the upside is likely. A bearish ABCD pattern is formed after an uptrend and signals a potential bearish reversal at a certain level. The rules for trading bullish and bearish ABCD patterns are the same, you will just need to take into account the direction of the pattern you trade and the movement of the market it predicts. 🔷Classic ABCD The point C should be at 61.8%-78.6% of AB. The point D, in its turn, should be at the 127.2%-161.8% Fibonacci expansion of BC. Notice that a 61.8% retracement at the point C tends to result in the 161.8% projection of BC, while a 78.6% retracement at the C point will lead to the 127% projection. 🔷AB = CD Here CD has exactly the same length as AB. In addition, it takes the market the equal time to travel from A to B as from C to D. As a Result, AB and CD have the same angle. This type of ABCD pattern is seen quite often and is popular among traders. 🔷ABCD Extension ABCD extension refers to when CD is the 127.2%-161.8% extension of AB. CD can be even 2 times (or more) bigger than AB. There actually are some signs that can hint that CD will be much longer than AB. They are a gap after point C or big candlesticks near point C. 📊Trading with ABCD pattern The key thing you should remember is that you can enter the trade only after the price reached the point D. Study the chart looking at the price’s highs and lows. It may be helpful to use ZigZag indicator (Insert – Indicators – Custom – ZigZag) that marks the chart’s swings. Watch the price as it forms AB and BC. In a bullish ABCD, C must be lower than A and should be the intermediate high after the low at B. Point D must be a new low below B. When the market arrives at a point, where D may be situated, don’t rush into a trade. Use some techniques to make sure that the price reversed up (or down if it’s a bearish ABCD). The best scenario is a reversal candlestick pattern. A buy order may be set at or above the high of the candle at point D. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
2
Large potential head and shoulders 30k soon????If price does reject from this resistance (Hopefully it doesn't) and come back into the macro value area price could hit the golden pocket retracement of that move up which has a lot of confluence such as an old and very respected weekly s/r a naked daily point of control and a daily s/r. If price can bounce from that area with market cipher printing a trigger wave on higher time frames and lower-mid timeframes showing clear divergences on momentum and money flow price could probably make its way up to make a new high creating a huge head and shoulders with a target of 30k which just so happens to be the target for some other analysis I was doing. While trading make sure you manage risk properly But most importantly have fun.
Long
by scottmcscran