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EURUSD wedge pattern. breakout to happen? let's go short!on the daily timeframe i have drawn an uptrend wedge pattern! as it is climbing to near breaking point, just how much further can it go to near breaking point? I dropped down to the 4H timeframe and drawn my S/R targets to reach if only it restests the resistance on the daily timeframe which to then i can place an sell order for a good price and give me a good entry for if the breakout become true! thank you for looking at my idea! share your thoughts with me! knowledge is power and i'm happy to learn from others! thank you.
Short
by RJLfamily
j.Hejazi | AUDUSD: Charting the Path AheadThe price on AUDUSD has followed the expected movement as outlined in the previous analysis . Currently, the price faces a combination of four resistance levels that need to be cleared before moving further down: a weekly trend line, a yearly trend line, the key level of 0.68650, and the 38.20 Fib level. It is probable that the price will bounce off these strong resistance levels and head back towards 0.70000 to form a head and shoulders pattern. ---------------------- 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
j.Hejazi | Bullish Signals for DXYThe US Dollar Index has produced a bullish engulfing candle on the weekly timeframe after failing to break down the weekly resistance level at 101.50. On the daily timeframe, there is a breakout of the falling wedge pattern with a positive divergence on the MACD indicator. The price still has three more resistance levels to overcome before it can be considered a buy signal: the yearly ascending trendline, the 103.5 resistance level, and the 50-day moving average. Once the buy signal is in play, the potential target may be 105.70, but the price may fall to retest 103.5 to form a head and shoulders pattern. ---------------------- 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!
TVC:DXYLong
by Candlestick_OB
XAG finally breaking out of the channel?Silver is about to break out of the channel. Jordan Roy-Byrne, Founder and Editor of The Daily Gold, outlines that the key determinant factor for a real bull market in the gold, silver and the precious metals mining stocks will be when gold decidedly breaks above the S&P 500 on the ratio chart. There are plenty of historical periods one can point to as evidence that the gold and silver mining stocks outperformed and diverged from the US general equities in prior bear market periods.
OANDA:XAGUSD
by Samo_Danilo
j.Hejazi | EURCAD waiting for breakoutThe EURCAD currency pair has formed a triangle pattern with a divergence on the MACD indicator. This pattern also appears to show triple tops with another divergence. These patterns are located at a strong resistance area, as the price is touching the 200-week moving average and testing the key level of 1.46350. To consider a sell signal, the price must break the neckline of the triple tops and triangle. However, if the price moves up and breaks the moving average, it must also break the 2 yearly resistance trend lines at 1.47313 to be considered a buy signal. ---------------------- 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
BTC 3-Day Big Picture PatternsBTC 3D chart Zooming out and looking at the bigger picture, here we are looking for patterns to see what the current trend could be telling us. 👀 BTC is currently elbowed at a cross way hitting resistance of our outer downtrend, the 100 EMA and trendline marked in red! The last time the 21 crossed the 50 Moving Average, price shortly topped the retraced back to our 21 and 50 moving averages before bouncing as it did in 2021! Could we see a repeat of this patter or something different? As always BTC will can always do the unexpected! Keep in mind, there is also another pattern with our daily Golden Cross looming! 👀
INDEX:BTCUSD
by livmac7
3
EURGBP - WEURGBP Another double bottom + TL as support! We could go further and add various other confluences but what's really important to implement your own trade plan in this idea! Double bottom, support 0.88350 areas. Drop below further than that, then I would re-think this idea. Overall stay above the support of 0.88350 and break of the key resistance that has been tested multiple times 0.88950 it's strong resistance but a break above I expect 0.89820 areas to be target. We do have ECB & BOE today... Have a great day ahead, Trade Journal
by Trade_Journal
📊 Chart Patterns Cheat SheetPatterns are the distinctive formations created by the movements of security prices on a chart and are the foundation of technical analysis. A pattern is identified by a line connecting common price points, such as closing prices or highs or lows, during a specific period. Technical analysts seek to identify patterns to anticipate the future direction of a security’s price. These patterns can be as simple as trendlines and as complex as double head-and-shoulders formations. 🔹 Reversal patterns are those chart formations that signal that the ongoing trend is about to change course. If a reversal chart pattern forms during an uptrend, it hints that the trend will reverse and that the price will head down soon. Conversely, if a reversal chart pattern is seen during a downtrend, it suggests that the price will move up later on. 🔹 Continuation chart patterns are those chart formations that signal that the ongoing trend will resume. Usually, these are also known as consolidation patterns because they show how buyers or sellers take a quick break before moving further in the same direction as the prior trend. Trends don’t usually move in a straight line higher or lower. They pause and move sideways, “correct” lower or higher, and then regain momentum to continue the overall trend. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
7
BTCUSD - TIME TO SHORT?It appears that we are currently experiencing a similar pattern to the bull run we saw in the past. During this previous bull run, we saw a sharp decline from 65K to 29K. Currently, we are seeing a similar pattern with long positions being trapped at the top and many stops being placed below 20,4K. If this pattern continues, we may see a decline towards the 20K psychological level, which would help to flush out leveraged long positions and start a new impulse from there. Additionally, there is an open gap at 20K which may also be filled.
Short
by SiDec
3
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