RTX - potential setupsNYSE:RTX
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👉 1. Price goes ABOVE the selected range on the picture. Long positions to activate.
👉 2. Price goes BELOW the selected range. below. Short positions to activate.
⚠️ Important Notes:
1. Follow your risk management rules.
2. Timeframes: up to 1D
Good luck and profit to all
Range
ETH Daily MM examples and successful BOSee ETH chart for very nice measured moves (MM). Great TL , TCL and midline examples and a successful range break example (most fail). This one likely succeeded due to bigger dominant pattern - coming off lows and we have an idea where we are headed. Will that UPPER TL hold?? See linked charts for more PA information.
Range Trading Meets Pattern TradingMany times I enter discussions where people tend to bash pattern trading...
...saying that pattern trading is not actionable, that "most reversal patterns fail while most continuation patterns succeed", that "most diagonal patterns fail while most horizontal patterns work", that you can't derive direction from them.
My answer is always that direction is not derived from the pattern itself (that would be statistically based only), but instead is derived from both interior and exterior context. When searching for actionable setups, again, patterns and diagonals will mostly provide bias, signs such as exhaustion and trend shifts, while horizontal SR (Support & Resistance) levels will actually be the ones we'll be looking for actionable setups.
Here's a quick example of a Rising Wedge divided in three constantly smaller ranges showing a slowing down of the trend, where we can start seeing exhaustion by the constant failed breakouts of HORIZONTAL levels, and where one can derive potential direction bias from the first DIAGONAL trend break...
...potentially expecting now a cascade effect from smaller ranges down to the larger ranges, providing larger and larger expansion gaps ultimately running the Rising Wedge pattern target.
LINKUSD: Bearish Bat with Hidden Bearish Divergence at Range TopCHAINLINK has been trading within this range for the last few months and recently has put in a Partial Decline; However it has formed a Bearish Bat on the Way up and may look to make a 50%-78.6% Retrace before continuing back up again to Bullishly Breakout.
So i would say the short entry is here and the profit target is between the 50 and 61.8 Retrace. Before then reversing again and giving us a Secondary Partial Decline.
Cardano ADA range between $0.50 - $0.55Did you recognize the range between $0.50 - $0.55 for current Cardano's sideways action?
Am pretty sure that a breakout will show us the next future direction - confirmation has to be considered
That clean - that simple
Or not, dear Crypto Nation?
*not financial advice
do your own research before investing
BTC bear market rally showing signs of weaknessI am currently out of my longs a little bit shy of 24k as I am starting to see signs of weakness.
Bearish divergencies are starting to form on low time frames, SPX on resistance, US100/US500 on resistance, Total Market Cap on resistance, BTC seems like it is about to form an SPF on the daily (and potentially on the weekly too if this keep going that way)
In the 2h chart I see a range deviation playing out if the candle closes back within the 22650-24200 range
Technically the target should be the range low at 22700 but if you are still bullish you should at least consider riding the shorts till the range mid point at ~23400
Just my quick 2c
p.s. I know I am frontrunning the candle close but honestly I don't think it matters much. I'd rather be wrong than late.
Are we going to see EURUSD pushing up?After the news yesterday we saw a sharp upside momentum on EURUSD.
Now we are not trading in the range anymore and it looks like the level of 1,0279 will act as support.
If price rejects that level we could expect another push up toward 1,0423.
Also, if price is about to move higher we want to see a breakout of the previous high in order to confirm that there is enough strength to continue upwards.
Right now, EURUSD isn't the best choice when it comes to trading against the dollar!