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Pricepattern

US30: Thoughts and Analysis post-CPIToday's focus: US30 Pattern – Consolidation range Support – 38,550 Resistance – 39,165 Hi, traders; thanks for tuning in for today's update. Today, we are looking at the US30 daily. Yesterday's CPI didn't cause any serious moves but did show that inflation remains stubborn. Today, we have run over what we are watching on the US30 and the current main levels that are forming a price pattern. Will we see a new test and break of resistance, or could we be in for further consolidation? Good trading.
EIGHTCAP:US30Long
by Eightcap
NDX100: Thoughts and Analysis Today's focus: NDX100 (NASDAQ) Pattern – Continuation. Support – 15,765 Resistance – 16,115, 16,085 Hi, and thanks for checking out today's update. Today, we are looking at NDX100 on the daily chart. Today's video asks if NDX100 will continue to move higher after starting to break out of a range consolidation pattern. When these patterns are seen in uptrends, we tend to look at them as continuation patterns with a new breakout higher confirming the pattern. We have run over what we are watching and things we want to see to confirm a new leg higher or things that could set some alarm bells for a potential fail or continued consolidation. After Friday's higher-than-expected jobs data, the NDX100 started to confirm a breakout. Price is close but hasn't yet broken out, and resistance remains in play. Will buyers shake off a weaker start to the week and push the price into a new up leg? Good trading.
EIGHTCAP:NDQ100Long
by Eightcap
CHFJPY: Thoughts and Analysis Today's focus: CHFJPY Pattern – Ending Diagional Support – 167.50 Resistance – 169.40 Hi, and thanks for checking out today's update. Today, we are looking at CHFJPY on the daily chart. Today's video asks if CHFJPY will continue to move lower after breaking out of an ending diagonal pattern. These patterns are seen as reversal patterns. We have broken down the trend structure and what we are looking for to see a confirmation of the pattern. The Key for us will be move-through support. If Sellers fail at support, look for a new move back through resistance, which could cause a failed pattern trend continuation. What do you think? Could this be a reversal? Good trading.
Short
by Eightcap
US30: Price levels and pattern analysis post-FMOCToday's focus: US30 Pattern – Ascending Triangle, low rejection, Resistance Possible targets – 35,260 - 33,255 Support – 33,790 Resistance – 34,310 Today we have looked at the US30 after this morning’s FOMC. The Fed held rates but commented that we could see two more rises this year. With price bouncing back after testing lower, could we see a new shot at resistance, or will we see sellers make a new test lower, breaking the current uptrend? If the trend is broken, could this set up a new move back to test the long-term pattern base? On the other side, could buyers make a new move to test or break key resistance? With rate raises back on the agenda will this maintain the current key resistance and hold price in its overall pattern? Good trading.
EIGHTCAP:US30
by Eightcap
GBPUSD: Buyers pushing a new breakout? Hi traders and TradingView community, today we are looking at the GBPUSD as price has started to show signs of a new breakout. Looking at the GBPUSD, buyers continued to hold at the demand and support area with multiple saves. Sellers made their last push yesterday before buyers flooded back, forcing an engulfing type of candle and halting the minor downtrend. After yesterday’s close, we could see a descending triangle start to form. These patterns can be reversal-type patterns, but as always, we need to see confirmation with a new move out of the pattern. Today we have seen a rejected move lower from sellers that has now turned into a test/break of the pattern. This is a good sign and could be the beginning of a new breakout for the GBPUSD. We want to see buyers hold the break and close out today’s session outside the pattern, and that could tell us that buyers are looking to start a new upleg. If price closes back inside the pattern, that could be seen as a false break, and we would need to see a new move to confirm a break. It’s also a small warning that buyer strength is not as strong as first thought. If we do see a new upswing on the GBPUSD, 1.2170 and then key resistance are the possible areas that could test buyer strength. Good trading.
Long
by Eightcap
3
AU BANK WILL BREAKOUT OR BREAKDOWN ??? What is a Symmetrical Triangle:- A symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. These trend lines should be converging at a roughly equal slope. The price forms symmetric triangle pattern on daily and weekly chart. The price perfectly following the ascending parallel channel and price persisting itself and also taken support many times. What if price Breakout upside:- If price will breakout upside than we can expect a good rally towards upside as price following symmetric triangle pattern & upper descending parallel channel from a very long time and trading under the range of the triangle pattern. Breakout towards upside can also takes the price at all time high level. What if price Breakout downside:- If price breakdown downside than we can expect good fall towards downside as price respected and following lower descending parallel channel and taken support many times. If price breaks this support than it will leads to a good fall in price. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad
NSE:AUBANK
by Jha_Nidhi
GBPJPY are we seeing a new breakout? Hi, traders and TradingView community. The GBPJPY is on our radar today after a solid session from buyers yesterday. Flash manufacturing and services PMI data came in better than expected and, combined with a mainly weaker yen, gave the GBP a nice boost. Buyers added 1.18% yesterday and broke above resistance, which has started to confirm a breakout of ascending triangle pattern. Breakouts from consolidation patterns can be seen as a good thing, as price has had plenty of time to build momentum. The next thing we are looking for is further upside that can test or break the downtrend and resistance point (black box). If reached, we would also like to see the old resistance level become support for future seller tests. 164.20 could become resistance; much further above, 168.90 is also seen as possible resistance. 160.50 is seen as short-term support on the current upswing, and we would like to see 162 – 161.80 become support if tested. If we see price move back into the previous consolidation pattern, this could be a worry. We would like to see new higher lows set up on or above the breakout point to continue to show that buyers hold momentum. Good trading.
Long
by Eightcap
2
Eth price action analysis and possible short entryFollowing the breakdown of the wedge, price is currently situated in the blue box where it could hang around a little. I don't really expect a bounce upward out of this zone. However, if we do have a bounce and break out of the blue box it is likely because the NPOC at 1818 is attracting the price. In that case I would not expect the bounce to go any higher than that, at maximum. For that reason, I think such a move upward should not be misinterpreted as bullish price action, because I would assume price to go back down quite quickly after tapping the NPOC. **If** it does touch 1818, I would look closely at how it reacts at that point and consider whether or not my thoughts as described above are correct in the context of the market at that time. If so, I would consider a short entry. - **NFA** My bias is bearish, as is legitimized by the macro trend being bearish. So my expectation is we break down out of the blue zone. There is some support at 1631. I think it is weak support, and expect the weak support to push us upwards to test previous support. **If** it is confirmed previous support has flipped to resistance, I would consider that confirmation to be short entry. - **NFA** Due to the volume, the descent to the next important support (1520) would not be a steep descent. Below 1520, headed to 1354, there is some volume, but there also is a low volume zone starting at 1444. When price enters these zones, in my experience, it tends to drop quite steeply. As you can see, there is another low volume zone between 1354 and the bigger POC at the bottom. So there are a few situations that could develop here which in my opinion could give rise to good short entries. But as always these are just my interpretations and do not serve as financial advice, as they could be missing the mark entirely.
Short
by mapav
Analysis of bitcoin price pattern and targetThe rising wedge on $BTC is hard to ignore, therefore may appear as too easy of a play. That is suspect, but we must not overthink things. When we were ranging in June - July, I expected to at one point hit lower 17k zone. I didn't expect the rally, but am still of the opinion it is / was a bear market rally and not a turn-around of a bigger trend. So that 17k level remains - for me - on the charts. In that context, the rising wedge becomes interesting. If wedge plays out and drop is +/- equal to the 10 - 15 June drop, it'd take us to the levels I drew out in June, which is lower-end of 17k. Breakdown out of this wedge happened today and now we're hovering above the 4H 200EMA. I think we'll find some support there & maybe go up to find the bottom line of the wedge flipped to resistance. This activity could push us back to the 4H 200EMA EMA. Once we lose it for support, further breakdown is more likely, with targets set at a new low.
by mapav
3
What is Head and shoulders pattern and how to trade with that?*The Head and Shoulders ( Bearish ) pattern is one of the most popular and best known price patterns in trading. This is a very accurate trading signal if you know how to use it properly and flexibly. *What is Head and Shoulders? How to identify and characterize Head and Shoulders is the name of a special type of price pattern that usually appears at the end of uptrends. This is a signal of future downtrends. It is called Head and Shoulders because the shape of this pattern on the price chart is similar to that of the human body including Left Shoulder, Head, and Right Shoulder. The line connecting the two troughs of the shoulders is often called the neckline. In fact, this pattern is perfect when the Neckline is horizontal (the prices of the two lows are approximately the same). How to trade with this: ENTRY POINT : Right after the candlestick breaks out of the neckline (or at the Retesting the neckline ) STOP-LOSS : At the peak of the right shoulder. TARGET : Usually, Head and Shoulders is a pattern for starting a downtrend. Therefore, adjust the first target to the height of the neckline to the top (H) of the pattern and adjust the next targets according to the past price and chart. This is the academic shape of this pattern, in the future we will publish other types of head and shoulder patterns 📚 . Please follow our page to be informed as soon as the materials are published. Thank you all for supporting our activity with Likes 👍 and Comments ❤️
Education
by NamchaTa
How to Find Legitimate Head and Shoulder PatternsHey Guys! I just wanted to post a quick tutorial on how to find legitimate Head and Shoulder patterns. In this lesson, I explain the 5 rules that a Head and Shoulders pattern must abide for it to be legitimate. Here's the rules: #1 Both necklines must be parallel. #2 The main neckline cannot be broken out of surpassed before the right shoulder's price level is reached. #3 The Head and Shoulders must be relatively flat. #4 The top neckline can only be adjusted to a wick between the main pivot and the last correlating major pivot. #5 The prior trend must be in the opposing direction. (which is up in the case of a "short" Head and Shoulders Pattern ) That's it! I hope this helps! Have a great day! Ken
Education
by TradingForexPriceAction
1
Mandatory Price PatternsHey Guys! When it comes to price patterns, there are many. I mean, look up "price patterns for trading" on google and you'll find countless variations. Just like in the movie "A Beautiful Mind", where Russel Crowe's character locates patterns in Russian Codes; a price action trader, can find endless variations of patterns on their charts. However, these variations actually deter the trader from their sole purpose of trading. Which is to make money. Period. With so many patterns multiplied by the different time frames that a trader utilizes in their trading, it is bound that there will always be multiple price patterns on the chart at any given time. What does that do? It confuses the heck out of the trader. That said, price patterns are a foundational element of price action trading, and is necessary to trade at higher levels. But it is not the amount of patterns that a price action trader must master. If the price action trader can master the Double Top/Bottom, and the Head and Shoulders patterns at the initial level. Out of my experience, these 2 patterns alone are more than enough to extract consistent profits from the markets. Simply put, it's about quality over quantity. That's it! Hope this provided some insight into price patterns! Have a great day! Ken
Education
by TradingForexPriceAction
6
How to Find Legitimate Double Tops & Double BottomsHey Guys! I just wanted to post a quick tutorial on how to find legitimate double tops and bottoms. In this lesson, I explain the 4 rules that a double top/bottom must abide for it to be legitimate. So for example: For a legitimate double bottom: #1 The 2nd bottom's price must reach the 1st bottom's wick low price level. #2 The 2nd bottom's price cannot close past the 1st bottom's wick low price level. #3 There must at least be a 10 candle range between the the bottoms. (including the 2 bottom's candles) #4 The prior trend must be in the opposing direction. (which is down in the case of a double bottom) That's it! I hope this helps! Have a great day! Ken
Education
by TradingForexPriceAction
4
'3 Price Note' Are You See Yet?'3 Price Note' Are You See Yet? --- "SA-WAD-DEE-KRUB" . From Thailand . Today is 17 June 2021 . 5:05 PM (My Local Time) --- Today I Will Show You . About 'Price Note' . BLUE, GREEN, RED . That I Mark Some Price for Play 'LONG' This Day . So What Do You Think #BITCOIN . They Can Go Up Or Not? . Remember ! Play Safe . And We will WIN together. --- If You Like It... . You Can Leave A Comment Or Share. . My name is DUANG from Thailand . P.S. Sorry About My Bad English... "KOB-KHUN-KRUB"
BITSTAMP:BTCUSDLong
by Kruduang
1
USD/JPY Liquidity provided?USD/JPY has formed two nice doji candles on daily TF, rejecting daily resistance and golden zone retracement 61.8% - 70.9%. On 4H TF we see a nice head & shoulder pattern formed in confluence with liquidity zone, a small double top and the trendline. Keeping an eye on this pair to look for potentiall sells upon trendline break. First target will be the next liquidity area at 105.4 level and maybe we can see a move down to 104.65 met on a longer term. #tradesafe
Short
by theforexdaddy
2