Get started

Patterns

Double Bottom - UCADHere I have USD/CAD on the 1 HR Chart! Price has outlined a very clear Double Bottom pattern with the two Lows! RSI is giving us a Bullish Divergence which tells me price really wants to work higher from this point! Price has now broken the Confirmation of Pattern! With this PA of now Higher Highs, we look for the next Low to be Higher than the Low of the Double Bottom being our INVALIDATION! Fundamentally this week: USD - Richmond Index (Tue) Flash PMI (Wed) Advance GDP, Unemployment, Durable Goods (Thur) Core CPE (Fri) CAD - NHPI (Tue) BOC Monetary Policy, Rate Statement & Press Conference (Wed) *If price does come down to test this break, I suspect the Support Zone @ Confirmation will be enough to catapult price up into the overhead Resistance Zone and Above!
Long
by Novi_Fibonacci
ETH - Patterns and Time repeating??COINBASE:ETHUSD A long term look at ETH. Are we repeating patterns in time and price? After the 2018 top and 90+% drop there was a 382 rally which we have had from this recent low but this time we have hit it twice. There is also an ABCD pattern higher at 2200. If we look at time now. From the 2018 high to the 2021 high there are about 1400 days, so if we use that as a tool then could it be possible that this weak rally that is going on is coming to a near around the end of April with near 1400 days from that 2019 high?? If we go a bit deeper then we look at the next 70+% drop from the June 2019 high to the March 2020 Low that gives us a early Jan 2024 possible low before we go parabolic again.. Just a few thoughts on the longer timeframe using the same tools on a bigger outlook. I will watch this and see what happens over the coming weeks. Enjoy the week.
COINBASE:ETHUSDShort
by L_F
6
GOLD - Price can make a small movement down and then bounce upHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 When price entered to rising channel, it in a short time reached $1975 level, which coincided with support area and broke it. Then Gold made retest and after this it made impulse up to resistance line of channel, but soon made little correction. After correction, XAU bounced up to resistance line of wedge, thereby exiting from channel and breaking $2065 level. But soon, price bounced of resistance line and made downward impulse to support line, breaking $2065 In wedge, price made fake breakout of this level and after this, it fell to support line, where Gold trades now. Possibly, price can fall lower than support line and bounce up to $2085 resistance line, breaking resistance level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDLong
by WalterMoon
5
Double Bottom - UCHFHere I have the USD/CHF on the 1Hr Chart. Price action has outlined what looks to be a possible strong reversal pattern, the Double Bottom! Price has given us two Lows with the most current being a Higher Low. Now I expect with price reaching back up to Confirmation of Pattern @ .8451, we should be given a Break of Confirmation for price to begin creating Higher Highs! RSI was heavily Oversold on the first Low created and looks to start working up above 50 after the last Low! *Chart Patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS! -Pattern Prediction- *If Price Breaks and Closes below .83562, Pattern INVALIDATED! *If Price Breaks and Closes above .8451, Pattern CONFIRMED!
Long
by Novi_Fibonacci
Bearish Continuation?? - EJHere I have EUR/JPY on the Daily Chart! Ever since price made its High on Nov' 15th, it has been in a decline. With current Price Action making a series of Higher Lows into Higher Highs all while the RSI is below 50 leads me to believe we are looking at a very convincing continuation pattern called a Bear Flag!! With the Bear Flag, we suspect Price will give us a Solid Bearish Break below the Support Leg of the Rising Channel to continue LOWER! Strengthening my Bearish Bias is the Flattening of the 200 EMA with Price working LOWER out of the Consolidation Zone and the Interaction of the EMA with price showing strength possibly switching! *Still waiting for Break and Close BELOW 200 EMA to confirm* Be Aware! Price is still playing within the Parameters of Consolidation so I've marked the potential reversal area as the Support Zone. Fundamentally this week: EUR - Holiday (Mon) PMI (Wed) CPI (Thur) JPY - Holiday (Mon) *Chart Patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS! -Pattern Prediction- **If Price Breaks and Closes above Rising Channel, Pattern INVALIDATED! **If Price Breaks and Closes below Rising Channel, Pattern CONFIRMED!
Short
by Novi_Fibonacci
Potential Inverted H&S - GJHere I have GBP/JPY on the 4Hr Chart!! Price has given us 2 Lows both returning to a very clear Resistance Area! This price action could possibly be outlining a very strong reversal known as an Inverted Head & Shoulders Chart Pattern!! Now with the Lower Low or "Head" being followed by Higher Low or "Right Shoulder", this Price Action signifies that price no longer wants to continue Lower and wants to make HIGHER HIGHS!! What we are waiting to see is for price to retest the "Neckline" one last time for a 3rd Touch before giving us a BULLISH BREAK to continue HIGHER!! Strengthening my BULLISH BIAS is the Bullish Divergence on the RSI indicator showing price, after being HEAVILY Oversold Dec. 7th, wanting to reverse in the opposite direction. Fundamentally, this week GBP - "Clear" JPY - "Clear" **Chart Patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS!! -Pattern Prediction- *If Price Breaks and Closes below 179.783, Pattern INVALIDATED! *If Price Breaks and Closes above 184.065, Pattern CONFIRMED! **Price Action after Confirmation of Pattern will initiate my Trade Action Plan!
Long
by Novi_Fibonacci
BIGTIME/USDT LONG Setup!BINANCE:BIGTIMEUSDT.P Observing the chart, it is evident that BIGTIME has undergone a distinct breakout on the 4-hour chart trendline, signaling a strong bullish momentum. This breakout aligns well with the overall bullish sentiment in the market, adding further support to the optimistic outlook for BIGTIME. Anticipating the continuation of this bullish trend, we can set our sights on achieving the targets set for our LONG trades. #BIGTIME/USDT LONG Entries: $8.062 Take profit 1: $0.6723 Take profit 2: $0.7347 Take profit 3: $0.8086 Stop Loss: $0.5455 Stay tuned for trade confirmation and additional updates. Feel free to express your thoughts by liking and sharing in the comments section:) Thanks The sroced.
Long
by srocedtrading
RUNE/USDT The breakout for a long trade in has been confirmed!The chart clearly indicates that RUNE has broken out of its resistance. Now is an opportune moment to initiate a long trade. #POLYX/USDT LONG SCALP 🍀 Leverage: 3x Entries: $5.940 Take profit 1: $6.291 Take profit 2: $6.850 Take profit 3: $7.205 Stop Loss: $5.353 Stay tuned for trade confirmation and additional updates. Feel free to express your thoughts by liking and sharing in the comments section:) Thanks The sroced. BINANCE:RUNEUSDT.P
Long
by srocedtrading
3
Gold (XAUUSD) Update Next Week 18-22 Dec23 The market seems poised for a period of consolidation, suggesting a sideways movement before a potential directional shift. During this phase, support is anticipated around 2010 - 2007, and a retracement could lead to a brief upside towards the resistance at 2028 - 2030. The market currently aligns with a green chart pattern, showing a possible resistance followed by a descent to 2000 - 1995 for Target 1, and further down to Target 2 at 1975 - 1960. Other side, If market successfully breach its resistance levels of 2030 - 2033, as indicated in the buying zone, an upward trajectory is likely possible. This could result in reaching the Target 2050 - 2060, with a subsequent move towards 2090. Monitoring the market closely is crucial to identifying whether it will adhere to the consolidation phase or exhibit a breakout in either direction.
OANDA:XAUUSDShort
by sheikhhamza306
Bitcoin Power of 3In this theory we take the 2013 cycle as a trend line and place the correction from ATH > ATLs. History claims that in every cycle we have completed this pattern. There are 3 set rules in order to confirm a bottom is being made. Note: These trendline are all identical and are not manipulated in anyway. Trendlines may vary on other BTC pair charts. 2013 Cycle - Marks the Power of 3 (Template) 1. Bottom Trend Line - Marks from absolute bottom target to previous low. 2. Median Trend Line - Marks from absolute bottom target to 50% projection retracement. 3. Top (Confirmation) Trend Line - Marks from absolute cycle top draw down to intersect points of 1 and 2 and must not cross or overlap. At point 3 confirmation you need to see a PIN point mark. Based on this theory, when these 3 lines intersect at their lowest point and it marks a cycle bottom, you have confirmation. I've marked that a Fib Ring to POC from 2018 as a point that could be potentially marking a confirmation bottom. If this mark is not hit then it is much further down.
BITSTAMP:BTCUSD
by LiquidMafia
1
What do you do when your trading plan fails? Yesterday I wrote about a beautiful chart pattern that was forming on the Bitcoin daily time frame that ended up failing not long after I wrote the post. That kind of thing will shake a trader to their core, especially if they thought it was going to play out, but ended up losing their shirt. This is why it is important to set stop losses, so that if the trade does go the other way, you will be out of the trade before it gets too bad. This is simply called risk management, and is one of the biggest things that any trader, especially new traders need to master. Trading is a business of statistics and probabilities. Just because something has worked for you in the past, doesn't mean it is going to work for you every time. So when something like a bullish pattern that you have traded many times fails, you have to reassess and move on to the next trade. Out of 100 trades, that pattern may only work 6 or 7 times which gives you a 60-70% chance of it working in your favor. That's how it works, nothing is ever 100% in this game. So you always have to be ready for things to not work out the way you think they should. If they don't work out, don't freak out! Just learn from your mistakes, readjust your plan, and move along to the next trade! Hopefully things like this will help you better understand the importance of a good risk management plan. Be safe out there everyone and trade logically!
COINBASE:BTCUSDEducation
by thelogicaldude
Raising My Targets on Litecoin. New Cup and Handle Spotted.As you know, I went long LTC at around $68. My target was $81. I am now in the profit and have raised my stops to just over break even ensure that I won't take a lost. While browsing the charts this morning, I spotted something on Litecoin that I did not see previously, a new cup and handle pattern! This one is longer term and gives Litecoin a much higher target, or targets. I will be raising my targets on Litecoin now due to this new pattern spotted. Target one will be $89. Target two will be $96. This is not fin advice. Best, Stewdamus
COINBASE:LTCUSDLong
by stewdamus
Double Top - GUHere I have GBP/USD on the 4 Hr Chart! We have a nice outline of 2 Peaks or Highs forming what looks to be a possible Double Top formation! With price failing to make a Higher High @ 1.27245 and now on its way back down to the Confirmation of Pattern @ 1.26035, I believe we will be seeing a Break of the current Low giving us a Lower Low signaling Price to extend further down!! Fundamentally this week: GBP - Construction PMI and BOE Bailey Speaks (Wed) USD - JOLTS (Tue) Non-Farm (Wed) Unemployment (Thur) Non-Farm and Unemployment (Fri) **Chart Patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS! -Pattern Prediction- If Price Breaks and Closes above 1.27245, Pattern INVALIDATED! If Price Breaks and Closes below 1.26035, Price Action will Initiate my Trade Action Plan!
Short
by Novi_Fibonacci
Head and Shoulders - GUHere I have GBP/USD on the 30 Min Chart! We currently have price outlining 3 different Highs outlining what looks to be a Head and Shoulders Pattern on top of the Support or "Neckline"! I believe we could be seeing a possible Reversal coming! **Chart Patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS! -Pattern Prediction- If Price Breaks and Closes above 1.27085, Pattern INVALIDATED! If Price Breaks and Closes below 1.26729, Pattern CONFIRMED and will initiate Trade Action Plan!
Short
by Novi_Fibonacci
1
Pennant - AJHere I have AUD/JPY on the 4Hr Chart! Price was Rejected @ 98.534 creating the high on Nov' 15th. Since then Price failed at the same level and again at attempted Higher High on Nov' 27th! Following this Lower Highs are Higher Lows which seem to be forming a Pennant Pattern! Currently we have 3 Tests of the Falling Resistance and getting the 3rd test of the Rising Support now! Pennants are likely to break Bullish OR Bearish so we must wait for the Proper Break!! Given AUD has some big news tonight, this will play a big role! **Chart Patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS!! Fundamentally this week: AUD - CPI (Tue) and OPEC (Thur) JPY - OPEC (Thur)
by Novi_Fibonacci
Bearish Sequence (Descending Triangle) - EJHere I have EUR/JPY on the 4Hr Chart! I believe we are seeing a Correction in the Bearish direction since EUR/JPY has been traveling in a UPTREND for quite some time! Our current Highest High @ 164.308 on Nov' 16th is the first touch of the Falling Resistance followed by the failed attempt at a Higher High @ 163.719 on Nov' 26th forming what could potentially be a Descending Triangle Pattern! **Chart Patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS! Fundamentally this week: EUR - CPI (Wed), Flash CPI & OPEC (Thur) and President Lagarde Speaks (Fri) JPY - OPEC (Thur) -Bearish Prediction- If Price Breaks and Closes above 163.719, Set-Up INVALIDATED! If Price Breaks and Closes below 161.245, Price Action will initiate my Trade Action Plan!
Short
by Novi_Fibonacci
1