Get started

Patterntrading

BTC PERSONAL ANALYSIS IN THE SHORT TERM (UPDATED)The current evaluation for the BTC asset is neutral, however you can take advantage of a long position since there is a huge volume backing up the 1H-4H chart which means it can easily ripple its way to larger timeframes. Please be reminded that we are still not out of the woods yet, we are in a descending triangle in a macro-structure pattern therefore we can assume that the leg to the upside is just a formation of its right shoulder. Down below are the recommended investment strategies: -------------- LONGING You can take a long position at 19,600-20,000$ as a short-term scalp long up until to a maximum assumed take profit level of 21,500-22,000$. Since there are no significant fundamentals supporting this bullish move, you are only scalping with RESPECT to the overall downtrend. A retest to the 19.6k-20k region will serve as temporary support due to the volume influx of money coming into the market. There is a 40% chance that we will not break down from the first re-test. SHORTING You can take a short position at 21,500-22,000$ with proper confirmation of following candles. Please do not rush to get yourself to massive short positions with high leverage just because you BELIEVE its a HnS, the market today is very cheap therefore lots of money can easily move the market liquidating your shorts so be careful. The ideal point here is to take partial profits at 19.6k-20k since there is a low probability chance that it will bounce from there before dumping further. Set your stop losses to break-even then. -------------- FAQS a.) What is the overall general trend? Answer: Downtrend. b.) Can a HnS pattern be invalidated? Answer: Absolutely. However, since we are in a major downtrend and fundamentals in the smart money markets are dumping as well, the probability of a completion on the HnS pattern is very high. Just like in any other trades, we are only considering categories of low, medium and high probability trades. There are no ABSOLUTES. c.) Do you ever use leverage? Answer: Yes, however what keeps me in the game is risk management and being emotionally in control. For every trade I put, I am mentally prepared to lose it therefore I do not panic since I've already considered stop loss levels that serve as "confirmation" bias. You do not put stop loss very tightly, you have to put SLs on levels of confirmed trend changes or else you're just gonna be hunted down by market makers. Also, patience is a huge game changer. Everyone knows that. If you liked this update, don't forget to like, comment and share this to your friends! Thanks! -Wamses
BITSTAMP:BTCUSD
by Wamses
S&P redistribution patternHey all, I wanted to share with you guys what I think is happening right now in the stock market; by the looks of things, we're doing exactly what we did back then in the lead-up to the March rally and subsequent leg lower. My current belief is that we will nearly replicate said pattern ahead of making another leg lower in the stock market(many market-moving names are repeating as well); I expect that next week will have some choppy sideways action, but the subsequent weeks will be roaring higher. I warn you guys to avoid getting sucked in by FOMO at the top, even if we break through resistance at 416, as I firmly believe it is all a bull trap. Best of luck in your trading!
AMEX:SPY
by MichaelEugen1
1
SOL PERSONAL ANALYSIS IN THE SHORT TERM (UPDATED)The total evaluation for the SOL asset is bearish. Please be reminded that the price action displayed is quite similar to the previous updates in my profile ideas, but with considerable amount of differences involved. All fundamentals behind the market structure shown below are explained in the BTC and ETH chart. Thank you. Here are the analyses for the decisions, structure and trend below: ------------------ Pattern Analysis The asset itself has been developing a higher-high rejection from a very obvious point of past support now-turned resistance 40-42$ level and a breakdown to the 31-33$ is very likely to be expected. A right shoulder is also possible to show a re-test of that high just to confirm the failure to sustain any bullish bias sending the price to the original support down to 25-27$. There is a slight resemblance of a descending triangle, but the most likely pattern to associate the current market structure with is the Head and Shoulders Pattern. The HnS is normally a bearish pattern that is further amplified with negative fundamentals and low volume. An invalidation point of such pattern is when the current downturn towards 31-33$ has served as support for another leg up potentially breaking 40-42$, however it has to be supported with proper volume and fundamentals or else it would just be deemed as a manipulation wick for market makers to grab liquidity from stop losses and overleveraged shorts. ------------------ Wave Analysis The price flow of the structure projected is NOT RANDOM but is mimicked similarly to past previous references of such market structure behavior especially after a significant downturn. When the HnS is confirmed, the support around 25-27$ would most likely NOT be broken down very easily and just like our re-tests above, the support will now be continuously re-tested multiple times until a further breakdown is established. The reasoning for such higher edge of a breakdown is the negative fundamentals in smart money markets and as well as other crypto related issues (exchanges withholding funds, etc.) When we meet the support again, we will have a very tight consolidation from 25$ to 33$ until we break down. The 200 Day MA will possibly intertwine with the shorter moving averages at its tightest range and this is a potential manipulation ground for market makers to squeeze in either direction. A personal tip is to wait for confirmation on the breakdown or breakup before re-entering positions even IF the MAs fully crossed together. ------------------ Trade Analysis The initial short trade is shown to have a potential of up to 1:3 Risk Reward Ratio with the stop loss being the highest point of the HnS pattern which is exactly 43$. There will be 2 open short positions which 1 will be used to take profit as early as dropping to the 31-33$ region and another position that will be held until it drops to 25-27$. If in any case that the 31-33$ level has acted as a consistent demand level, you will not close your 2nd short position until it hits the original price you shorted from at break-even (no loss except for fees). You will re-evaluate your options then before entering the same short position again with the same target being 25-27$. The second set of short positions is shown to have a 1:2 Risk Reward Ratio with 43$ being the stop loss area and the first take profit level will be around the 25-27$ region with the latter being around 15-20$. The reason behind ignoring the take profit level at 31-33$ level is that will already have served as resistance. As I mentioned before, a consolidation pattern will happen at the bottom of the range before a further breakdown. It is carefully advised to not revenge trade at any cost nor do you overleverage beyond what you think you cannot afford to lose, the key to leverage is to prepare yourself mentally and emotionally on what you think you can tolerate to lose WITH RESPECT to your profit and loss calculations, liquidations, time tolerance and fundamentals. If you liked the chart above and the analyses provided here, do not forget to like, follow and share this idea to your friends! -Wamses
Short
by Wamses
USDCAD - FUNDAMENTAS WITH TECHNICAL LEVELS- DXY is currently at 104.105 LEVEL. The USD traded slightly lower with the MARKET RISK OFF in the last few days. Also, at present the CAD FEATURE is at 0.7725 LEVEL. However, CAD is a bit WEAK compared to DXY. Due to this USDCAD is becoming BUY. This is because the USD receives a POSITIVE SENTIMENT and the USD receives a RATE HIKE SENTIMENT. - USDCAD PRICE can be DOWN to 1.2732LEVEL before re-UP. After that the USDCAD PRICE can be UP again to 1.3189 LEVEL. The USD is slightly stronger at this time due to the MARKET SENTIMENT. The OIL PRICE applies to USDCAD, and the decisions made at OPEC MEETING will have the greatest impact on USDCAD. You can be a DXY UP from FOMC UPDATES today. So stay tuned for that.
by benny_marshall
ICICIBANK technical analysisNSE:ICICIBANK In ICICIBANK I used auto harmonic pattern to predict the market if u also want to use this then follow the steps: 1) open "indicator" and search "auto harmonic pattern" and click on it. 2) open "settings" and go to "style" and remove "table". 3) this indicator will automatically generate targets. And if u want to understand more then follow us and observe how we give targets and find levels:- 👇👇👇👇👇👇👇👇👇 If it breaks downward level (* 715* ) as you can see in the chart above, then our :- Targets :-- 685 , 625. Make sure that market may retrace after achieve target. For more such information stay connected with us.🤘🤘🤘
NSE:ICICIBANK
by ayushkumarshivaliya
AUDJPY - ONE MORE MOVE LOWER!!FX:AUDJPY is setting up for one more move lower into the 92.00-92.20 area. This would complete a 3 Drive pattern into 92.00. At this level where I will be looking for a buying opportunity as we have the 50% and 61.8% levels from previous lows together which makes a stronger case for a reversal. We also have the AI expecting lower prices. If it doesnt rally back to 93.56 then I will be selling the first retracement from the current drop @ 11:00am. Another look at how AI and patterns can work together to give us a strong case for a trade. I hope this helps, Enjoy the day. 👍👍
Short
by L_F
BITCOIN - ONE MORE LOW TO 23kPatterns repeating over and over. In this look at COINBASE:BTCUSD we are having another rally which should stop around the 34k level which in itself is a major Fibonacci number (34). This should start the last leg lower into 23k where we have the 1.618% extension from the last low. If it manages to get through the 34k level and hold above there then 34k becomes the support then there could be a higher level to watch but for now this is how its playing out. I hope this helps, updates coming with AI as we follow this move.
COINBASE:BTCUSDShort
by L_F
6
Potential Bull Run in Bitcoin, Elliott Wave AnalysisBitcoin outlook: We are tracking an ABC flat correction that is nearing completion. We are currently in wave 5 of (C). We are watching for a small bounce, then one last push down to an area of Fibonacci confluence around the $20,000 - $24,00 area. We expect price to reverse at that level, beginning the final bull wave of the larger term wave sequence. We focus on trading education and wave analysis to build a foundation of skills that give our clients the edge. We trade Crypto, Forex (FX), and equities. We keep our analysis simple, clear, and easy to execute. Comment below if you would like to see more trade ideas, Elliott wave analysis, and market updates
COINBASE:BTCUSDLong
by ImreSG
2
USDJPY - CURRENT SENTIMENT , FUNDAMENTAL BIAS- JPY FEATURE is going down a bit right now. Somehow it will come back up. The main reason for this is that the MARKET SENTIMENT RISK ON TONE is still playing. JPY FEATURE stands at 0.0074 LEVEL. According to the JPY ECONOMIC PROJECTION, JPY can be WEAK in the future as well. Already JPY WEAK is coming with JAPANESE UPDATES. But if the MARKETS RISK continues to be ON, the USDJPY price may go up further. USDJPY stands above DYNAMIC LEVELS. - Currently the OVERALL MARKET is RISK ON. STOCKS is currently showing a NEUTRAL BIAS. Also the VOLATILITY is getting a bit DOWN. Also COMMODITIES still shows a UP SIDE BIAS. Currently there is a NEUTRAL RISK TONE in the market. Therefore, all currencies such as NZD CAD AUD may definitely be slightly RANGE in the future. Also JPY CHF can be UP. - USDJPY PRICE can be REJECT from 135.429 LEVEL. For VOLATILITY UP, and JPY FEATURE UP. If MARKET RISK OFF, it can continue to fall to USDJPY 129.852 LEVEL very easily after breaking the TREND LINE.
by benny_marshall
3
XAUUSD - GOLD CURRENT SITUATION- US10Y is currently slightly up to 3.0% LEVEL. Like we said before, it's been a bit of a CORRECTION in the last few days. We can see that the POSITIVE SENTIMENT for USD ECONOMIC DATA is also very POSITIVE for DXY. - The power of USD is still very strong in GOLD. US10Y was largely VOLATILE on the behavior of LABOR DATA. DXY has been DOWN very fast for the last few days. We look forward to hearing from DXY. US10Y LONG TERM UP is going to be with this RATE HIKE CYCLE and this MARKET CONDITION. DXY is getting a bit down but now it's getting a bit UP up with the MARKET RISK OFF. Also when we look at DXY it has moved to DXY 101.87 LEVEL. - GOLD PRICE is currently slightly higher than DYNAMIC S / R LEVELS. Most likely the GOLD PRICE will be SHORT TEEM UP in the future. GOLD SHORT TERM has a UP SIDE BIAS but may be more DOWN under the influence of DOLLAR in the future. So it can be a bit UP before SELL right now. In a DOWN SIDE CHANNEL a GOLD can be seen moving. - Currently the OVERALL MARKET is RISK ON. STOCKS is currently showing a NEUTRAL BIAS. Also the VOLATILITY is getting a bit DOWN. Also COMMODITIES still shows a UP SIDE BIAS. Currently there is a NEUTRAL RISK TONE in the market. Therefore, all currencies such as NZD CAD AUD may definitely be slightly RANGE in the future. Also JPY CHF can be UP. - GOLD PRICE can be UP again before DOWN until 1910 LEVEL. So GOLD is more likely to go back to the 1910 LEVEL. Then you can BREAK TREND LINE and definitely DOWN up to GOLD price 1786 LEVEL. If the TREND LINE is BREAK, you can go up to GOLD 1765 LEVEL DXY or US10Y if there is a UP TREND again. - However, the bigger picture will change if a new sentiment enters the market or the market takes a risk to strengthen the US dollar first.
OANDA:XAUUSD
by benny_marshall
1
XAGUSD Silver : Stairway to heaven? Bull flag behemoth! 25.5A "bull flag" is a bullish candlestick pattern which is defined by - 1) A linear movement up (flag pole) 2) A tunnel or channel which is on top of the linear movement up (flag) 3) A break above the top of the channel which is the continuation of the up-trend (target) The target is the size of the flag pole movement stretched from the breakout of the tunnel. In this specific case the long-term target is around $45. The tunnel or channel range is between 20.20 - 26.20 Looking at the MACD we are furthest away from the baseline since March 2020 and showing convergence similar as back than before the flag pole movement of $17, which of course is a very bullish technical sign. Silver is fundamentally bullish as well due to rising inflation globally. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Thank you so much for reading! If you found my idea useful, please like and follow! It would truly mean a lot. If there's anything you'd like to ask or comment, don't hesitate - It's the fuel to keep me going. I am not a financial advisor and I encourage you to do your own research and be cautious when trading. -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
OANDA:XAGUSDLong
by Exactus
4