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Patterns

DJI - Cash Market Gaps. DJ:DJI had the rally this week and finished with a strong volume day on friday. Looking to this week we have a Gap to be filled from the previous drop at around 32300. This lines up with the 707 from recent high and low. We also have 1 SD @ 32690. Anything above these levels could mean we have some sort of major low in place. At this level there is a Similar retracement from previous rallies. Some more higher prices could be seen this week. I will be looking for pull backs to enter long for now. I hope this helps, Enjoy the week.
TVC:DJI
by L_F
GOLD - Critical price area!!OANDA:XAUUSD is sitting at an intersting price level. We had the sell off from the high on Friday, now we are at a point where it could head higher for one more leg to the 1912 area or this correction is over after hitting the 382 twice over the last couple of weeks and we will see lower prices. If this is it then our downside target is 1660 but there is a chance of a lot lower prices but I will cover that going forward. For now we just see how we open on Monday and find a place either way from there. I will post smaller TF charts with intraday levels to watch. Also I will post the AI for the year which gives me that downside bias. I hope this helps, enjoy the weekend.
OANDA:XAUUSDShort
by L_F
📊Why do the trading patterns work?Hi friends! Probably all traders began their career by learning the trading patterns. A trading pattern is a price movement pattern in a certain range. Generally there are 2 types of patterns: candlesticks (shooting star, hammer, bullish or bearish engulfing) and figures (triangles, channels, flags, head and shoulders, etc.). The number of them is constantly increasing, through the change of market, but there are up to 50 main patterns. 📊So why do the trading patterns work? The answer is very simple - because many traders use them in trading. Imagine a traffic light with a red light🔴 According to the rules all drivers who have the same signal stand waiting for a green light✅ Here, it lights up and allows all cars to move in the right direction. It's a clear rule, not only in your country, but in all the countries in the world. The situation is the same with trading patterns. Let's imagine that a chart is a road, and a pattern is a light. The price rises or falls and a pattern is formed. You have determined that it is a bullish pattern, such as a bullish wedge. Of course, you are waiting for the wedge to move to the upper boundary and break it up, that will be a signal to open a trade (green signal to move✅). At the same time, all the drivers (read as "traders") begin buying with you and pushing the price higher and higher. Why do traders do this? As I said in the beginning, patterns, like the rules of the road, are learned by all traders, regardless of nationality, this is the general rule, that is why these patterns work. 📊In what cases do they not work? As you know, most people in the market can't be right. Conventionally, if everyone opened a long and bought Bitcoins at $50,000 and the price went up to $100,000, then someone should have bought those Bitcoins from you for 100% more. If everyone held a long, there would be no one to sell and no one would make a profit in the end. That's why there are always 2 sides in trading: buyers and sellers. With the increasing popularity of patterns, most traders and especially beginners who first study patterns began to open trades according to these rules and .... took a loss. Patterns work especially badly on the cryptocurrency market, which shows how young this market is. But why? All because most cannot be right when trading patterns, otherwise no one would make money. 📊What should I do if I trade only paterns? I would recommend adding more rules to your trading strategy. These can be different trading tools, filters which will help you to remove "fake" signals and increase win rate. For example, trade not the triangle pattern, but its false breakout using a volume indicator: 1️⃣A false breakout in most cases shows that the price will not go in the direction of the breakout, as there are too many willing to open a trade in the direction of the price movement. 2️⃣The volume indicator will show the actual number of buy and sell orders. If the volume at a false breakdown of the lower boundary of the triangle has increased - this tells us that the price is more likely not to move down, as there is serious support there. This is the simplest example. You can also use indicators, additional trend lines, candlestick or fundamental analysis. 💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU.
Education
by Yuriy_Bishko
6
FRR - STRONG Bounce coming - x5 - 15x profits🌇Hi cryptoTraders,🌆 ✔️ Strong Uptrend now on FRR/USDT with easy break of 0.015 level. I expect a move to 0.09 usd min very soon, then go full bullrun. 📌My entry point: 📌 0.012 usd - 0.015 usd 💰 My targets: 💰 0.20 usd - 0.40 usd ------------------------------------------------------------------------ 👑👑 BTC , the king of crypto :) 👑👑 ------------------------------------------------------------------------ 🤞🤞ALTSEASON 🤞🤞 😎 Regards 😎
FLong
by SvSt
1
ADA Trade Setup - Breakout Of Trend Line = Bullish MomentumHello Traders, here is a trade Setup for ADAUSD. I'm going to keep this one short today... ADA has had an incredible run over the past several days. So well in fact that it broke through a local descending trend line which acted as resistance. This is a very positive signal for Bullish momentum. - Price is currently re-testing support which is also an ideal buy zone. - The trade setup is shown on the chart. - Keep in mind that we are in a Bear Market. Keep your position sizes small to protect your capitol and don't over leverage yourself. Thanks everyone and best of luck trading!
Long
by natef1
2
AUDUSD- Short Term Sells, Long Term BuysAUDUSD is at a level of contention- we could go absolutely bullish or shock the market by flailing to the lows. Both scenarios are open to me, and here is why: A Case for Sells: -we have been on a bearish assault and the recent price action indicates that we have found a lower swing high on the H4. As such, the natural expectation is that we shall continue bearish, at least to the key daily levels around 0.68540 and potentially extend to the -27% fib level around 0.67200. Just by the sheer retrace and retesting a level of structure alongside retesting the 50% fibonacci is enough to expect the pair to start off on a continuation. I also note that price on H4 is indicating a double top and a break of the neckline level (as I judge by the candle closes, not wicks). The daily TF is also indicating a clear exhaustion by the wicks on the upside of the Thursday and Friday candles. The week closed with a spinning top on the daily- clearly opening price up to the possibility of a drop. This is enough to validate sells. A Case for Buys: -Price hit a key psychological and institutional level for AUDUSD at 0.70000. We have tested this level for four times since September 2021 and each time we had a push to the upside. As such, price had created a sweet pool of liquidity below this key level. The last two weekly candles indicate a clear drop below 0.70000 to 0.68300 and a bullish piercing back above the level. This is a classic fish for liquidity and rejection from the zone below the level. -If you choose to examine structure on the monthly as well, you realize that price created a lower low when it dipped all the way to 0.55000 levels back in March 2020. Naturally, the next thing to create would be a lower high, especially after the epic drop from 1.1000 which begun in 2011. This for me is reason enough to expect a bullish AUD for quite a while. -If you play predictive analysis, you can also tell that the monthly COULD form an inverse head and shoulder at our current zone by going bullish.- two shoulders at 0.7000 and the head at 0.55000. -since we have accessed liquidity and pushed back above 0.7000, I will be on the lookout for any structural shifts on H4 by breaking the latest lower swing high. IF we switch bullish, I'll be very okay taking on long term buys on this pair. That said, the markets are not perfect and we may end up just heading down. I will play this one by the ear and comply to price action.
by lovinmulika
3
XMRUSDT wants the necklineThe price is testing the supply zone on 178$ where the market created an important daily resistance on the 0.5 Fibonacci level. On the 4h Timeframe the price created the W pattern and we can find the neckline on 150$. How approach it? If the price is going to lose the support on 160$, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
XShort
by InkyGrip
16
BTC scenario for next few monthsBTC recently broke the bear flag. In my previous analysis, I pointed out that this would happen, however I expected BTC to have relief rallies between the trendlines before finally falling to 28k. There is a wick to 25k which was possibly accentuated by the tether depeg. The average crypto bear market from bull cycle top to bear cycle low is typically 1 year. If it works the same way this time, the low will be produced around November 2022- January 2023 before BTC will move upwards and then surge in the next halving for 2024. This scenario is in line with previous bear markets where BTC plummets, then chops sideways for months and finally capitulates to produce an absolute bottom near the 200 WMA. This has always coincided with an RSI of 30 or slightly less on the weekly, or an RSI of 43 on the monthly and BTC is currently close to these levels. We can expect BTC in this scenario to trade between 28-37k, perhaps until November where it could drop dramatically to 20-24k and finally find an absolute bottom. As usual past data is never an accurate predictor of future events, so this is just being put forward as a possibility. If you agree or enjoyed this idea, please press the like button. Thanks.
by Rookxb8
USDCAD DAILY (11/5/22)Here we have usdcad in a uptrend channel where it has only made 3 touches so far. we did get a breakout of this channel but price was able to give us solid bullish candles to get back in and close within the channel giving us a fake out (Highlighted in graph). This fake out also gave us the 4 touch of an inner channel which has also given us a flag pole formation. I believe that UC has the potential to reach between 1.341 & 1.351. I will post analysis of lower time frame in the next post.
Long
by J_Pipsfx
Hartley PatternsHello everyone Today we will talk about another method of analysis that will help you bring significant profits. Let's go! Introduction H.M. Hartley in 1935 in the book "Profit on the stock market" for the first time revealed Hartley's patterns. Gatli patterns are used in technical analysis and are based on Fibonacci values. The patterns are reversal patterns and have clear rules and an excellent profit-to-risk ratio. Hartley patterns work better than most well-known graphic formations, which also use different Fibonacci levels, but not as clearly as in Hartley patterns. Designations Hartley decided to designate waves with 5 letters for simplicity: The letter X - is the beginning of the trend; The letter A - is the end of the trend; The letter B - is the first pullback of the trend; The letter C - is a rollback correction (not breaking through the level of point A); The letter D - is the target of the letter C. The zones for the letters B, C, D are determined using the Fibonacci ratio between XA and AB. Patterns are divided into types and have their own names, in addition, patterns work for any direction of the market. Let's take a closer look at the patterns. Bat Pattern formation: the price reaches the maximum/minimum of the XA wave and forms a point B at the Fibonacci correction level from 38.2 to 50%. Using the XA points, you can find the value of the D point, which usually tends to the Fibonacci retracement level of 88.6% relative to XA. In this case, CD is most often longer than the segment AB. Butterfly When wave B finishes its formation at the Fibonacci retracement level of 78.68%, they talk about the formation of a Butterfly pattern. At the same time, the target for wave D will be values beyond XA and will be 1.27-1.618 XA. Crab This pattern is formed when the price touches and bounces off the maximum/minimum of the XA oscillation and forms a point B at the Fibonacci correction level from 38.2-61.8%. The goal of point D is outside the original segment XA and is 1,618 XA Simplifying pattern identification With careful study of patterns, it can be noticed that the formation of patterns depends on the location of wave B in relation to XA. Apart from the drivers and 5-0 patterns, there is an easier way to identify the remaining patterns. Let's divide the values of wave B by Fibonacci levels. 1) 38.2%: Bat, crab 2) 50%: Bat, crab 3) 61.8%: Bat, crab, AB = CD 4) 78.6%: Butterfly 5) 88.6%: Deep crab. If you see one of these values, you can understand which pattern is being formed. For example, if you see on the chart that the price reaches the level of 50%, then you can expect a Bat or crab figure. To calculate where the point C will be, you can use Fibonacci levels relative to the point AB: on 38,2%, 50%, 61,8%, 78,6 % and 88.6%. Now let's define goal D. 1) Bat: 88.6% Fibo HA or 2,618 BC 2) Alternative Bat: 113% Fibo XA (below X) OR 2.0 BC 3) Crab: 161.8% Fibo (below X) OR 3.14 BC 4) Hartley: 78.6% Fibo HA or 1.27 BC 5) Butterfly: 161.8% Fibo (below X) OR 1.618 BC 6) Deep Crab: 161.8% Fibo (below X) OR 2,618 BC. How to trade? It is necessary to open a position at the level, on a confirmation signal or on an impulse breakdown, using pending orders at Fibo levels. Confirmation – in this case, you should wait for the reversal candlestick pattern at the Fibonacci level. Breakdown – in this case, the price bounces off the Fibonacci level and breaks through the trend line in the expected direction. It is worth paying attention to the following clarifications: trading on wave B goes in the direction of the trend, but with a limited purpose (on the letter C). Wave C trading is counter-trend trading, but with a good profit-to-risk ratio (with a goal on the letter D). Trading on the letter D can be considered as trading in the direction of the trend (very close to the support and resistance levels) and also with a good profit-to-risk ratio (the target can be the top in an uptrend, the bottom in a downtrend or any Fibonacci level of the CD segment). These patterns are quite common, and the success rate is quite high. Use the patterns correctly and they will bring you a lot of profit. Good luck! Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Education
by Lingrid
11