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Nasdaq: support bounce to feed new continuation?Today's focus: NASDAQ (NDQ100) Pattern – Continuation Support – 15,015 Resistance – 15,435 • The Nasdaq led US indices on Monday, adding 1.05% • Could this be the start of a new continuation higher? Hi, and thanks for checking out today’s analysis. Today, our focus is on the NDQ100 index, and we are watching to see if yesterday’s rally and support hold could be the beginning of a new continuation pattern. In our last report, we discussed whether price could return to the main trendline after breaking its fast trend. From here, we want to see buyers continue to push forward. Today’s retail sales at 8:30 could be a factor, and we feel that overly strong data could hurt stock indexes. A move back to support would be a worry and could show that buyer strength is not that strong currently. If we we see price continue to rally, 15,435 could be a first test. Another news item to watch this week will be the FOMC meeting minutes. Buyers will be looking for a dovish tone from the Fed to help support upward momentum. Have a great day and good trading.
EIGHTCAP:NDQ100Long
by Eightcap
EURUSD Trade Recap 11th August 2023Breakeven taken on EURUSD last Friday, very happy with the management. Full explanation in the recap. 🧠Emotional Log --- **Pre-Trade** I understand all the confluences within my thesis, I accept this risk as I know if it is a loss I clearly understand exactly why I took to the trade. My stop is protected and if price takes me out there is a chance it is forming something else anyway. Do not be greedy, but also do not hesitate. These are the trades I must allow myself to take. **During Trade** My stop is protected, allow price to do its thing. My entry is valid, and I understand structure over candlesticks. I utilised the timeframes as best I could, working from the 1H structure filtering down to the 15M without jumping in. Do not choke the trade, mini 90% rule is in play so let price do its thing. **Post-Trade** I understand that price created a mini scoop for a much sharper entry, however, how can we guarantee this will always happen. My entry was valid, and stop was protected, I understood the 90% rule kicking in and managed risk accordingly to price action on the 1H. Nothing more I could have done in this situation and capital was protected.
by JordanWillson
Palladium Analysis: Is price starting a swing higher? Today's focus: Palladium Pattern – Descending triangle / Range Support – 1223 Resistance – 1320 • Palladium added 4.37% on Thursday • Palladium and Platinum ignored USD strength to finish firm on Thursday. Hi, and thanks for checking out today’s analysis. We’re looking at Palladium primarily in today’s video, but we have also mentioned Platnuim, as it also posted a solid session on Thursday. After yesterday’s rally, we have looked at a few things that have stood out in the buyer's favour, but we have also broken down the remaining hurdles and what we want to see from price to confirm the bullish signs. Do you trade Palladium? If so, please let us know what you think of the descending triangle pattern and if you agree with current volume supporting yesterday’s move. Have a great day and good trading.
EIGHTCAP:XPDUSDLong
by Eightcap
18
SOLANA - Key area with 34 upside targetBINANCE:SOLUSDT is in an interesting area where it could go either way. Upside target on the bigger pattern that has been running all year is around 34 (Fibonacci number). There is a CIT window on Friday 21st April so if we get a retracement back to 22-23 area that will set up the move higher. There is also the possibility of a deeper correction back down to 15 but above 27 and this scenario is off the table. This week will be the key. Enjoy the week. Watching for set ups.
Long
by L_F
5
AJ preparing to shoot for the stars ✨ Overall structure is bullish(currently)but the market iscorrecting which means there's still room for higher highs within the expanding pattern there is a bullish Flag which is setting us up for a bullish moment which then is confirmed by market behavior (impulse,correction&impulse) and for the fact that all this price action is happening above the support I've drawn adds to the confluence all I'm waiting for is for the market to reject the golden zone on my fib which is in line with my resistance and it's on 🙌
Long
by ReignersinForex
Clean impulse on $CRCT - Wave 3 to follow It had a clean impulse on the daily chart. Now with 61% retracement done, it would be a good idea to consider Wave 3. Momentum Indicators are bullish on the weekly chart and it has taken a support from 40-week EMA. The candlestick is a hammer pattern as well. Classic example of resistance turned into a support or in other words, breakout and a retest. Morning Star Candlestick pattern on the daily chart which is a Bullish Reversal Pattern. The setup has a Risk-Reward Ratio of more than 8 with the SL being recent low and profit level being the equality level by Elliot Wave method. With parallel channeling, the approximate time for the trade can be expected around one month.
NASDAQ:CRCTLong
by Shivam_Gaba
📈 4 BULLISH PATTERNS YOU NEED TO KNOW📌How to easily identify these patterns? 🟢Cup and Handle Pattern The cup and handle pattern is a bullish continuation pattern that typically occurs after a significant uptrend. It is characterized by a U-shaped "cup" followed by a smaller consolidation known as the "handle." The cup portion represents a temporary pause or correction in the price, forming a rounded bottom. This signifies that selling pressure has diminished, and buyers are stepping in. After the cup formation, the handle is formed as a slight downward drift in price, usually in the form of a small consolidation or a shallow retracement. The handle represents a final consolidation before the resumption of the bullish move. The handle should be relatively smaller in size and have a downward-sloping price action. 🟢Double Bottom The double bottom pattern is a bullish reversal pattern that signifies a potential trend reversal from bearish to bullish. It consists of two consecutive lows that are approximately at the same level, forming a support level. The first low represents a selling climax or a period of intense selling pressure. After the first low, the price rebounds and retraces to form a temporary high, creating a potential resistance level. However, buyers step in again, pushing the price back up, resulting in a second low that matches or is very close to the level of the first low. This double bottom formation indicates a significant level of support where buying interest outweighs selling pressure. 🟢 Bullish Flag The bullish flag pattern is a continuation pattern that occurs after a strong upward move in price. It is characterized by a brief period of consolidation, where the price forms a narrow and rectangular range, resembling a flagpole and a flag. The flag portion of the pattern is typically slanted in the opposite direction of the initial price move. The flagpole represents the initial strong upward move, indicating a surge in buying interest. Following the flagpole, the price enters a consolidation phase, represented by the flag. This consolidation allows the price to stabilize and absorb selling pressure. The flag pattern should have parallel trendlines that contain the price action. 🟢Inverse Head and Shoulders The inverse head and shoulders pattern is a bullish reversal pattern that indicates a potential shift from a bearish to a bullish trend. It consists of three consecutive lows, with the middle low (the head) being lower than the two outer lows (the shoulders). The pattern resembles a head between two shoulders. The left shoulder forms as the price declines, followed by a subsequent rally to create a temporary high. The price then retraces, forming the head, which is lower than both the left and right shoulders. After the head, the price rallies again to form the right shoulder, which is usually slightly higher than the left shoulder. 👤 @QuantVue 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
4
FrogAlgo: Head and Shoulder PatternThe head and shoulders pattern is a well-known chart pattern utilized in technical analysis to anticipate potential reversals in price trends. It derives its name from its visual resemblance to a head and two shoulders. Typically forming after an uptrend, this pattern is considered bearish and indicates a potential reversal in the market. Here are the main characteristics of a head and shoulders pattern: - Formation: The pattern consists of three peaks or highs, with the middle peak (the head) being the highest and the two outer peaks (the shoulders) slightly lower in height. The lows between the peaks form the neckline valleys. - Neckline: The neckline acts as a support level, connecting the lows between the peaks. It serves as a crucial level for confirming the pattern. The neckline can slope upward, downward, or be horizontal. - Volume: Volume plays a significant role in confirming the pattern. Typically, volume is higher during the formation of the left shoulder and the head, and lower during the formation of the right shoulder. A notable increase in volume can occur when the price breaks below the neckline, confirming the pattern. - Breakout: The pattern is considered complete when the price breaks below the neckline. This breakout serves as confirmation for the bearish reversal, signaling a potential shift from an uptrend to a downtrend. - Price Target: To estimate the potential downside target, measure the vertical distance from the neckline to the top of the head, and subtract that distance from the breakout point. This projected target represents a potential price level that the asset could reach after the pattern is confirmed. - It is important to note that the accuracy of the head and shoulders pattern, like any other chart pattern, is subjective and can vary depending on several factors. Factors such as the timeframe, market conditions, and the quality of the pattern itself can influence its accuracy. - Traders and analysts often use additional confirmation signals and indicators, such as volume analysis, momentum oscillators, and trendlines, to increase the reliability of their predictions when identifying head and shoulders patterns. While the head and shoulders pattern is widely recognized and utilized by technical analysts, it is important to incorporate it into a comprehensive trading strategy that considers other factors such as fundamental analysis, market sentiment, and risk management.
AMEX:SPY
by A1TradingHub
A Double Bottoms Pattern!The double bottoms pattern is a common chart pattern used in technical analysis, including scalping strategies. It is a bullish reversal pattern that can signal a potential trend reversal from a downtrend to an uptrend. - In scalping, traders aim to take advantage of short-term price movements and generate quick profits. The double bottoms pattern can be used to identify potential buying opportunities for scalpers. Here's a general description of the pattern: - Downtrend: The price is in a downtrend and reaches a low point, forming the first bottom (low). - Reversal: After the first bottom, the price bounces back up but fails to sustain an upward movement, leading to a minor pullback. - Second bottom: The price then declines again, but this time it does not reach the previous low. Instead, it forms a second bottom, which is typically higher than the first one. - Confirmation: Once the second bottom is formed, traders look for confirmation signals to enter a long (buy) position. This may include a breakout above a resistance level, a bullish candlestick pattern, or an increase in trading volume. - Target: The target for the trade is often set by measuring the distance between the bottoms and adding it to the breakout point. This provides an estimate of the potential upside move. - It's important to note that scalping strategies often rely on quick trades and small price movements. Therefore, it's crucial to incorporate additional technical indicators, such as momentum oscillators or moving averages, to enhance the accuracy of the signals and manage risk effectively. Remember, before implementing any trading strategy, including scalping, it's advisable to thoroughly backtest and practice it in a simulated or demo environment to gain confidence and refine your approach. Additionally, risk management and proper position sizing are essential aspects to consider in scalping or any trading activity.
AMEX:SPYLong
by A1TradingHub
CADCHF 240 MINS TIME FRAMEThe Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart). Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves. we do not get into bullish or bearish traps. We anticipate and get into only big bullish or bearish moves (Impulsive Moves). Just ride the Bullish or Bearish Impulsive Move. Learn & Know the Complete Market Cycle. Buy Low and Sell High Concept. Buy at Cheaper Price and Sell at Expensive Price. Keep it simple, keep it Unique. please keep your comments useful & respectful. Thanks for your support.... Tradelikemee Academy
Short
by Tradelikemee
RSI Divergences!🐸 RSI (Relative Strength Index) divergences refer to a technical analysis tool used to identify potential trend reversals or continuations in the price of a financial asset. RSI is a popular momentum oscillator that measures the speed and change of price movements. It oscillates between 0 and 100, with values above 70 indicating overbought conditions and values below 30 indicating oversold conditions. 💥 Divergences occur when the price of an asset moves in a different direction than the RSI indicator, suggesting a potential shift in the underlying trend. There are two main types of RSI divergences: 💥 Bullish Divergence: This occurs when the price of an asset forms a lower low, but the RSI indicator forms a higher low. It suggests that the selling pressure is weakening, and a bullish reversal may be imminent. Traders often interpret this as a signal to consider buying or going long on the asset. 💥 Bearish Divergence: This happens when the price of an asset forms a higher high, but the RSI indicator forms a lower high. It indicates that the buying pressure is diminishing, and a bearish reversal may be on the horizon. Traders often view this as a signal to consider selling or going short on the asset. 🐸 RSI divergences are considered as potential reversal signals, but they should not be relied upon solely for making trading decisions. It is crucial to combine them with other technical analysis tools and indicators, as well as considering fundamental factors, to increase the probability of accurate predictions. Traders often use RSI divergences in conjunction with trendlines, support and resistance levels, and other momentum indicators to confirm their trading decisions.
AMEX:SPY
by A1TradingHub
📈How to Trade: Rising Wedge Pattern?🗣️ The rising wedge pattern is a bearish chart pattern commonly observed at the end of an upward trend in financial markets. It signifies a possible reversal in the trend and is the opposite of the bullish falling wedge pattern, which occurs at the end of a downtrend. Traders interpret the rising wedge as a period of consolidation following a medium to long- term trend, indicating a loss of momentum. This pattern is often used as a signal by traders to initiate short-selling positions or exit their existing positions. 😘 To identify and utilize the rising wedge pattern: 1| Identify an ongoing trend in a specific currency pair or asset. 2| Draw trend lines that connect the highs and lows of the trend, establishing support and resistance levels. 3| Wait for price consolidation and observe the narrowing of the support and resistance lines, forming a rising wedge pattern. 4| Notice how the upper trend line acts as resistance and the lower trend line serves as support, converging towards each other. 5| Once the price breaks below the support line of the rising wedge pattern, consider placing a sell order. 6| Implement a stop-loss order at the same level as the support trend line to manage risk in case of a price reversal. 7| Determine a profit target by considering the distance between the highest and lowest points of the wedge pattern, or by using technical indicators or previous support levels as references. 😘 Key Takeaways: 💥 The rising wedge pattern is a technical chart pattern used to identify potential trend reversals. 💥 It appears as an upward-sloping price chart with two converging trend lines. 💥 Typically, trading volume decreases during the formation of a rising wedge. 💥 The rising wedge pattern is generally regarded as a bearish chart pattern that suggests a possible breakout to the downside. 💥 Wedge patterns can form in either the rising or falling direction. #stocks #trading #tradingview #spy #frogalgo #investment #business #money #funds #stocktrading #stockmarket #foryou
AMEX:SPY
by A1TradingHub
What is bullish rectangle pattern?The rectangle pattern is a well-known technical analysis pattern that can be a valuable tool for traders. It consists of horizontal lines representing significant support and resistance levels, indicating a period of indecision in the market. This pattern can be effectively traded in two ways: by buying at support and selling at resistance, or by waiting for a breakout from the formation and utilizing the measuring principle. www.google.com 💥 When discussing the bullish rectangle candlestick pattern, we are referring to a chart formation that occurs during an uptrend. It represents a temporary pause in price movement before resuming the upward trend. This pattern signifies a period of equilibrium as the price moves sideways. Once the price breaks out above the upper resistance level, the pattern is considered valid and generates a buy signal. Bullish rectangle patterns are powerful and commonly used in breakout trading strategies. 💥 Conversely, the bearish rectangle pattern is the opposite version of the bullish rectangle pattern. It follows the same formation and rules but occurs during a bearish market trend. 💥 Understanding the key takeaways of the rectangle pattern is crucial for successful trading. Firstly, this pattern indicates a lack of trend as the price fluctuates between horizontal support and resistance levels. Traders have different approaches to trading rectangles. Some prefer to trade within the pattern, buying near the bottom and selling or shorting near the top. Others choose to wait for breakouts, which occur when the price moves out of the rectangle. 💥 It's important to note that the rectangle pattern concludes with a breakout, marking the end of the price's sideways movement between support and resistance levels. 💥 For more insights and daily ideas about market updates, psychology, and indicators, you can follow @QuantVue. If you find their work valuable, remember to show your support by liking, commenting, and following them. By understanding and utilizing the rectangle pattern, traders can potentially enhance their trading strategies and capitalize on the opportunities presented by this classical chart formation.
NASDAQ:AMD
by A1TradingHub
1