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The psychology of price patternsWe have said before that changing attitudes determine price and price moves in trends that tend to perpetuate. So, how can a trend be defined? Simply, it is the movement of price in an irregular but persistent direction. When you zoom out your chart and watch price movement, whatever is obvious is the trend. The USDZAR chart below illustrates some trends you will encounter. For those that are familiar with watching charts, then we can say price moves in either of 3 ways: upwards, downwards, or sideways. When it is moving upwards or downwards, people say either the buyers are greater than the sellers, or the sellers are greater than the buyers. But thinking this way has errors. They are saying that the market is not in equilibrium. The correct interpretation of such upwards or downwards movement is that the buyers are either more aggressive or enthusiastic than sellers for uptrends, or the sellers are more aggressive or enthusiastic than buyers for downtrends. For the third case, the sideways movement, we can say that this is a transitional period, a period where the aggression of buyers and sellers are evenly matched. It is at these periods that price patterns develop. This is a period of consolidation between both sides of the market and it is of two types: a. Consolidation or continuation patterns: this is where the preceding trend before the consolidation is seen continues after the consolidation. That is uptrend to consolidation to uptrend vice versa. The chart below shows an example. b. Reversal pattern: this is where the opposing trend to the preceding trend before the consolidation is achieved. This pattern separates an uptrend from a downtrend, and a downtrend from an uptrend. These patterns are the bread and butter of the setups we trade in price action. These patterns sometimes don’t work in line with the fundamental news such that they might appear unbelievable. That is what makes them powerful. I have seen so many traders who saw a reversal pattern in an asset but who read that the fundamental news says the trend will continue. Because they chose to follow the crowd, rather than listen to price, they placed a trade in line with the fundamental news only to lose money in the process. This is why in my trading I don’t follow the fundamental news or what the crowd is saying. I listen to the crowd but don’t follow them. I follow price and the patterns that price gives. This is because every news in the market is already factored in the price. Therefore, it is better to follow price.
Education
by Emekadavid
Looking at a few of the WORSE calls of the past."We all gunna die! Listen to me" This has kept being repeated for at least tens of thousands of years. Those calls age like a fine milk, and when it does, the prophets of doom are nowhere to be found. Here are some of the most ridiculous and sad calls made in the past: > The millennium bug Also called year 2000 problem. This one is only 20 years old, but I'm sure some people haven't even heard of it. 20 years later the idiotic calls made back then are not advertised. Wikipedia has a page on it but they have not mentionned all of the terrible calls that were being made and repeated over and over in particular in the media. It's as if no one was stupid back then and the world acted rationally. See? You can't trust history. No, history books and wikipedia and sites that talk about it are wrong. It's not that they are wrong it's that they left the best bits out of the story? What? To not make people that feel ashamed look stupid? On tv some nuts were calling for the end of the world, literally. Some christians were claming this would be Jesus second coming. And they were getting attention. I was a kid and I already thought this was dumb. From an UN release: www.un.org "Some computer companies were beginning to be optimistic about the Y2K event and some were making a lot of money from devising ways of "fixing" problems related to the issue. Some were referring to a "Y2K boomlet" in the economy as a result of the Y2K fear." Suckers were becoming fearful and were getting fleeced. Haven't heard much from them. None have been giving speeches on their hiring of "experts" to "protect them from the mighty Y2K bug". People that compared those braindead sheep to nuts looking for exorcists and talismans weren't taken seriously, but they were right. The suckers that hired experts and bought "special software" (pun intended) to protect from the mighty Y2K bug were the modern version of suckers buying expensive talisman to protect against evil ghosts and spirits. The UN, these masterminds, these lights in the darkness, those beacons of hope, were expecting riots in the streets, wars, governments to be overthrown. 1 small article about some of this: www.wired.com AND NOW. IF YOU THINK THIS IS A JOKE. IF YOU THINK I AM EXAGERATING. "It wasn't that bad". 20 years later people have forgotten. People think it wasn't that stupid. Oh yeah? Then listen closely. The whole country of CANADA 🤡 PREPARED FOR A COMPLETE BREAKDOWN OF CIVILIZATION. "Canadian leaders were preparing for the possibility that civilization would break down" This article enters into more details about Canada reaction, and shows a few example of the measures that were taken: www.theglobeandmail.com There have been a handful of little bugs, and a few were avoided in advance. No biggie. Collapse of civilization lmao they're so bad. Aged like fine milk. > The 2020 coronavirus cold pandemic & governments reactions Too early? 😉 Can also add the "apocalyptic CO2 calls muh gLoBAl WArmINg" I'm eagerly waiting for those to age so I can say "told you so" and rub it in their faces. > Quick one: "Commodities will never go to zero" "The price of a commodity will never go to zero. When you invest in commodities futures, you're not buying a piece of paper that says you own an intangible piece of company that can go bankrupt." Jim Rogers. What's this Jim? You'll come in my office I want to have a word with you. > Gordon Brown bottom. Never forget. Former Prime Minister of the United Kingdom Gordon Brown, UK Chancellor of the Exchequer at the time (head of her Majesty Treasure, french equivalent I think I can say is "ministre des finances" "financial minister"), so basically the "financial expert", the head of the part of the government in charge of finance, made this wonderful sale in 1999-2002: Clearly a very competent man, which expertise is not just "knowing how to get elected". Ah, Mr Brown today is giving us his advice on how to deal with covid-19. Wonderful. Let's listen closely so we can do the exact opposite 😊 2009. Gordon Brown warning us of a Climate Change™ global catastrophe. Hahaha. No surprise here. www.telegraph.co.uk Gordon Brown. Losing tens of billions with horrible trades, and then asking tens of billion to taxpayers for some unproven illogical extremely exagerated dogma: www.independent.co.uk Absolute POS moronic politician. "My idea of a perfect government is one guy, in a small room, sitting at a desk, and the only thing he's allowed to decide is who to NUKE." - Ron Swanson Well said Ron. > "The Titanic is unskinkable" I don't think I have to explain :D Ye... It was being advertised as being "Titanic" and invincible. Aged well. Maybe the quote was taken out of context, I don't know every thing, I know that the other 2 titanic ships (HMHS Britannic, RMS Olympic, RMS Titanic) were used in the war and had their own issues. And I know that the Titanic just went straight for an Iceberg. So someone must have thought of it as nearly unsinkable. > "In 10 years Oil will cost $380 a barrel" (2005) "Experts economists" (yawn) were explaining that because of world consumption Oil prices would go up, impossible they would not go up, and would probably be around $380/barrel, and we needed renewables. And ye they explained they looked at sound science and clean facts and it was absolutely impossible for the price not to soar and we had to quickly forget cheap Oil YAAAAAAAAAWN! Dumb economists. So wrong all the time. This didn't pick up worldwide attention I think it's quite local. Article is in french... www.liberation.fr > "Prosperity will never end" 1929, 2000. In 2020 the sheep npcs updated their firmware. Now they're saying "stonks will always go up". > "I hope that with fast foods the french won't get fat like americans" - 1985 Whole world eats 20 grams of a salt a day and eats 1 meal a day. 1 meal that lasts all day long. > "Enron is the most innovative company" and "Share price will go to 1000" and "Retail is buying at these cheap price" Innovative in what sector? Fraud? I posted and laughed about Zoom investors, I laughed about USO (Oil Fund) buyers, I laughed about Carnival (cruise) and airline company buyers. But the medal really belongs to Enron -99% buyers. Yes. AFTER bankrupcy and the fraud was publicly known and on every news show over and over. Yes really. Retail investors REALLY bought Enron shares AFTER the collapse. Since then Enron got delisted so good luck selling, and they can't claim they got caught in a fraud got lied to or anything, since these masterminds bought AFTER the fraud went full public. Absolute genius. "Buy cheap". And regulators whine about Forex and restrict it and ban ads and are annoying. K that's enough for a single idea. > BONUS People can believe anything... By upvoting a non existant restaurant in London pranksters got mainstream to believe it existed, and it was the best restaurant in London, and people started looking for it. In 1996 Alan Sokal, a physics professor published a paper where he proposed that quantum gravity is a social and linguistic construct. A few weeks later he told every one he published a hoax. I think we can blindly trust "science" no problem 👍 In the late 2000s university students in France were whining about some law (in France universities are generally where the tourist students go, there are no famous french universities, french elites go to small ultra selective "schools"). I was going to my school and university participation trophy students warned they would block the access to our school. Our math teacher cracked up and she told us not to worry, because those kind of students "typically didn't wake up early". So basically for the next months these masterminds were standing in front of our school while we were in. Classes began BEFORE they got there, and classes ended AFTER they had already left. They stood in front of our doors for weeks of months, every day! And we couldn't care less and we were dying of laughter. They were just standing there for nothing, probably patting themselves on the back "aha! No one is coming no one is leaving they are not even trying to enter we have frozen this school" 🤣 LoL I wonder why these geniuses ended up in garbage universities and failed the selective schools admissions. Nothing to do with cognitive abilities I'm sure. "Miley Cyrus has many fans around the world. Young girls look up to Miley and her character Hannah Montana because they both set a good example for girls."
TVC:DJIEducation
by MrRenev
7
Is it SDT for Bitcoin?Could Bitcoin pull above the 21 EMA and perhaps spring to a new ATH? Considering the 21 EMA has been very supportive in the past there is no reason to believe it couldn’t happen. Especially this close to the halving, Right? Of course from where we are right now in the area of 6800 we would have to see a rise of just over 190% to reach a new ATH. That's not a bad return! Staying with the trend however we can see we would only need to drop off about 43% to see a new phase low or; about 54% to see a new low in this Elliott Wave correction cycle that began in December 2017. At a 60% drop we should see support from the 100 EMA and hopefully it will be off to the races once we get that support. What is the ADX trying to say? It would appear that the breadth line (W) continues changing from holding steady to just a small pick-up meaning more people are becoming interested. Unfortunately the divergence (B) indicates the support of that interest in the sense of investment strength is waning. Les cash coming to the table. Also waning is the bullish sentiment (G) while the bearish strength (R) is certainly picking up strength, perhaps to take us to our soon to be told destiny. Remember. This is not trading advice. Follow with me if you like, engage the like button and please add your comments below.
BITSTAMP:BTCUSD
by Flatratepete
Halving TheoryHere is my Halving Theory On the facts and data of history I try to find the bitcoin code of all time highs in future Every time and everywhere in history we see allways things happend again and again So we see it even in Bitcoin charts there are some things they are allways coming again alltime highs, halving, hype time, depression time, more or less interesting If WE know THES time frames it would be much easier to trade btc in future with this knowlegde. So - let us see if the Bitcoin Code is crackable Stay Crypto
BITSTAMP:BTCUSDLong
by CryptoCoreTrader
10 Predictions for Bitcoin, Stocks, and Commodities in 2020It's a brand-new year, and oh man, 2020 has a lot on its plate. Last year, we witnessed the benchmark S&P 500 surge almost 29%, crude oil rallied 35% and the bitcoin price nearly doubled since the beginning of the year. The big question, of course, is will you and your money be prepared? These are my 10 predictions for the crypto and the traditional markets in 2020 that may offer some insight.  1. Bitcoin’s price will hit $20,000  Probably the biggest question on bitcoin investors’ minds is whether it will reach $20k again. While that does not look to be the case now, it may change after bitcoin will undergo its next halving event. Halving is a protocol built into bitcoin that “halves” the reward that miners receive for mining a block every few years. The reward for mining a block will halve to 6.25 bitcoin. The event will likely create a supply crunch and a bull run lifting the price to $20k.  2. There will be no recession in 2020  Research from Credit Suisse shows that the average recession doesn't happen until 22 months after the inversion occurs. Similarly, stock market returns don't turn negative until an average of 18 months after a yield curve inversion. Assuming these statistics hold true, the next recession is not expected before the first quarter of 2021.  3. S&P 500 will experience at least a 10% correction With plenty of uncertainty still on the table, including the U.S.-China trade war, escalations in the Middle East, and the U.S. presidential elections we will see a significant drop. Over the past 70 years, the S&P 500 has undergone 37 corrections of at least 10%. A correction of at least 10% in the S&P 500 has a better chance of occurring than not occurring in 2020. 4. Libra launch will be huge Libra is a cryptocurrency that will be integrated with the Facebook suite of products (Facebook, Messenger, WhatsApp) through a new platform called Calibra. Facebook’s user base is massive, to say the least, at 2.45 billion individuals. The launch in 2020 will likely be the largest mainstream launch and use case for cryptocurrency that the world has ever seen.  5. Central Bank Digital Currencies (CBDC) will become a reality There are many reasons why central bankers are intensely interested in the new world of digital currencies, but the main one lies in fear of their first preditor, Libra. China already launched a digitized version of their yuan and ECB is developing one too.  According to research from The Block, 18 central banks have publicly acknowledged the development and/or launch of their own CBDC.  6. Gold will outperform stocks Despite the phenomenal 18% gains in 2019, gold is primed for another lustrous year. There are two major catalysts. First, the very nature of gold being the safe-haven investment and the second extremely low-yield environment. Over $17 trillion of bonds are yielding negative returns and with the majority of central banks cutting rates, this trend will likely continue in 2020.  7. DeFi will continue to grow rapidly Decentralized finance (DeFi) has undoubtedly been one of the largest areas for the growth of cryptocurrency in 2019. This trend will follow through with 2020. Services like Maker, Compound, InstaDapp, etc. will likely see more adoption as lending, taking out a mortgage and payments will be used by more and more mainstream consumers.  8. Crude oil will not drop below $50  Given the global economic expansion, OPEC production cuts and the U.S. shale production growth slowdown, the oil markets look to be pretty balanced this year on average. For the first time since 2014, I believe that oil will not drop below $50 per barrel.  9. FAANG stocks will outperform S&P 500 The FAANG stocks, that's Facebook, Apple, Amazon, Netflix and Google have substantially outperformed the benchmark S&P 500 over the past decade. I expect this trend to continue in 2020. While they are a far cry from being classified as value stocks, there are at reasonably attractive levels now. Amazon, for instance, has traded at an average price-to-cash-flow of 30 over the past five years, yet is valued at only 20 times Wall Street's price-to-cash-flow estimate for 2020. 10. Trump will win again Why is that? Nostradamus, the most famous prophet, predicted it. In his predictions for 2020, he refers to a man leading a powerful state to political intrigues, conflicts, and a “king” in danger. Although attacked from all sides, he concludes that Trump will be reelected as president of the USA.  Those are my predictions for 2020. Chances are that some of them may come true. I learned the hard way that in investing we should always be ready to expect the unexpected. That’s what makes markets so fascinating.  Here’s to a great 2020! Ras Vasilisin is the founder and CEO at Virtuse Exchange, Singapore-based multi-asset platform with a significant presence in the EU, that allows investors in more than 100 countries to trade crypto and traditional assets.
COINBASE:BTCUSDLong
by Virtu
Had To Dig Deep For Technical Levels - PRTSPRTS has been on a great run. They just added Icahn Auto SVP to the team too. I think the move toward automotive lately is a good sign for companies like PRTS. But given that fact, the momentum has to slow sometime, doesn't it? It's been on a great run since April. I just hope the company doesn't get carried away with raising new money, etc. like so many other penny stocks have in the last few months. " Craig-Hallum also set a target price of $4 for the stock. Soon enough, there was a rally in the stock. However, this isn’t just an overnight penny stock to watch. Shares of U.S. Auto have been on the rise since mid-October. Around that time, the penny stock traded under $1.50 a share but has since jumped to highs of $2.78 this week...U.S. Auto has begun building its leadership team stronger. Most recently it appointed Icahn Automotive SVP David Morris as Chief Merchandising Officer. What will this mean for the future of U.S. Automotive moving forward?" <- I agree with this question. SOURCE: 5 Penny Stocks To Watch Before Next Week; 1 Up 720 % Since December
NASDAQ:PRTS
by PennyStocks101
Can SNCA Manage To Break Above Previous ResistanceGreat news and all but can SNCA pull from a technical perspective ? "The patent is for the “Transplantation of human neural cells for treatment of neurodegenerative conditions.” Could this be the next step in developing its NSI-566 treatment? Why I say this is because the treatment is specifically designed around neural stem cells. This is developing as things just began to unfold later in the afternoon. However, it could become one of the penny stocks to watch this month." Source: Are Penny Stocks Profitable? 4 Names To Know Now
S
by PennyStocks101
2
Bear Stampede to the bottom until the Christmas week. Just another pointless prediction, but I am often close to reality. Just experience, or perhaps logical thinking. I took a beating this season. I gave back anything I made in the spring. Why, because I am human, and my bias' clouded my normal logical thinking. I too fell into that death trap. I got out months ago, and bought real estate. I negotiated very well and pretty much made back my losses in that deal. Well I guess that remains to be seen when and if I resell. As for the markets, its still a hold. I expect to see a similar year-end pull back, mini-crash until Christmas week. Investors step in after Christmas pushing markets up until Spring. The key point is, you should be in cash right now, or other investments, hopefully, ETF's. If you are buying and holding anything in the POT sector, all I can say is, ouch! I bet you won't do that again. Following the bear stampede over a cliff has never been a good strategy. In my opinion investing with your bias is a sure way to lose money. Invest with the trend, the path of least resistance, and is a much much better method. Read all you can find about trend trading. I have a great reading list on www.wealthandgrowth.com to get you started. -Randal
TSX:ACBEducation
by 4XRandalll
Outrageous Prediction 1: UK nominal growth doubles to 8%A massive MMT-inspired fiscal blast boosts the FTSE 15% better than its continental peers in 2020. Life has not been a long quiet river for the United Kingdom since the 2016 referendum. At the snap elections of December 12, Prime Minister Boris Johnson wins an overwhelming victory against a divided Labour party over the Brexit issue. The economy is also penalised by five consecutive quarters of contraction in private investment, a low UK household saving rate, slowing domestic demand and very weak construction and manufacturing sectors. On top of that, there is a growing discontent among the population, particularly among Brexiters, regarding the rise in gross inequalities in the country. In an unprecedented turnaround for the Conservative Party, the government decides to embark on a MMT-based economic policy aimed to restore confidence, stimulate GDP growth and attract investment. This is the largest fiscal stimulus program in the UK since the end of World War II. It leads to a massive increase in public spending in infrastructure, the health system, education and the implementation of ambitious programs to support the housing market and provide financial assistance to the most disadvantaged populations. As a result, the public deficit yawns wider to over 6% of GDP www.home.saxo
TVC:UKXLong
by Martintradingza
Dancing like its 1983.LETS "B" Real with B 52 www.youtube.com I need a refueling I need your kiss Come on now and Plant it on my lips Whammy kiss me Whammy hug Revitalize me Give me whammy love Yeah! On Planet X-oh it Won't be long now I got a light year to Get to the phone now I'm gonna contact you When I get home Give it all you got Give it all to me Come on mammy and Throw me that whammy I said give it all you got Give it all to me Come on mammy, throw Me that whammy And I know I need That whammy kiss Whatever you do I'm just passing the Time to get to you To pass the time with you He cannot stand to Go into work when he Needs some whammy love Whammy You gotta use it right Use it right now I ain't foolin' Give me a refuelin' Yeah, whammy kiss me Whammy hug Come on mammy throw Me that whammy ;) Watch me or learn from me. Either way you will learn something. www.youtube.com
BITSTAMP:XRPUSD
by AschraM
5
Bullish and Bearish Scenerios For Bitcoin After Re-Testing ~9.2k*This should not be seen as an accurate depiction for Bitcoins future* This is just me playing around with the charts/ what trends i could see as a possibility in either scenario. Downward/ upward spikes could be more or less intense given the amount of volume that will be happening during said moves on the market. Bitcoin "Should" be testing the downwards trend line around Mid October and deciding its direction from there. (Trend line stretching from ATHs to our last move up) Zone it should be testing? 9.38k-9.1k The bullish scenario in this depiction is dependent on an Inverted Head and Shoulders pattern. (None of my Head and Shoulders patterns ever pan out, so i give this call a 5% chance of panning out) If we aren't able to achieve my targets by ~Oct 15th i see my bearish trend panning out. ~6.6k-6.8k is my target, with more downwards pressure. in the bearish scenario the market will bottom at ~4k-4.5k mid February. From the bottom i see a short term pump up to 10.2k by the halving event in ~June 2020, followed by more downwards pressure bottoming at ~2-1.5k One again this is only my predictions Media/ the human equation can completely steer this market in unforeseeable directions. If no global
BITSTAMP:BTCUSD
by CapitulationCalls
1
Fractal for Ripple (XRP) Refer to this as a ~"one year" cycle XRP TA and target Idea, will be continually updating, In related ideas below: Comparatively to Ripples "ATH's" of May 2017 And "End of cycle" December 2017 Correlate very closely to "ATH's" of January 2018 and "End of cycle" July 2019 If you follow Ripple "Daily, Hourly, 15Minute" on a regular basis you will find continuous repeating patterns almost every day Cycles work in tandem with each other Idea based from from Highs and relative lows of 2017 "Full cycle" ~(1 year), see how we are seeing the same growth/ consolidation periods, for the past two years or so? Cycles as follows: Start, We started At "The end of a Bearish cycle In may 2017" (start of graph) Then "End our Bullish cycle end of December 2017" (End of graph) Which brings us to ATH's of 2018 (the start to our bearish cycle) And the relative End to our bullish cycle July 2019 (This cycle lasted twice as long as the last one "Having two cycles (bearish and bullish respectively" to form one complete Bearish cycle) While also,"Charging up in volume and slow increases in value". This Asset is massively oversold at this point and is following a fractal, whats left to say? My charts are unconventional, but very effective. XRP could drop below ~28 cents to mimic my Fractal exactly. Worthy to mention this is just the build up to a Possible 4 year Bull market for XRP if the pattern repeats itself.
BITFINEX:XRPUSD
by CapitulationCalls
Did someone say Pitchfork? Just an idea showing PF channels Was playing around on the BTC charts and projected Pitchforks from the Early 2015, 2016 and 2017. Honestly the still seems to be playing a major role. Overall Long-Term Outlook: First off testing the ~11.8k resistance line. (unless it breaks into the upper channels) Finding support around the ~6.5k support line, which correlates to the 2016 and 2017 Pitchforks. (could break lower to the ~3.5k support,but not likely IMO). From there returning to the ~9.8k- 11.5k Retest/ break current channel: (~17.3K July 2020 If the channel is broken upward. (Bounce or break up into new channels after 17K target is reached)) (If the ~12k Resistance level isnt broken here we are going into the biggest bearish recession BTC has ever seen.) (If it plays out as displayed above BTC will find life again ~4k mark around November 2022) NOT AN EXPERT DISCLAIMER. Honestly the biggest factor in the playbook has and always will be Global Adoption. The crypto community will continue to be held back by governments laws and regulation, until final word is spoken on the matter, in turn governments have only been integrating into the Crypto space for ~3 years which span over investigations in multiple different assets on top of multiple exchange bans. (Not to say following government regulations is a bad thing, but it also makes you think of what is left to come, and how far we are from an equal medium) Will update if this turns out to be a functioning chart, as always DYOR and Good Luck.
BITFINEX:BTCUSDShort
by CapitulationCalls