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Rectangle

Three bearish patternsI usually do not trust forecasts made on low time frames. They are often subject to the error of a larger pattern. In other words, they are not always what they appear to us to be. That's why I mostly make charts on 4h+ charts. However, I sometimes make exceptions to this rule. As you can see above, it seems to me that 3 intersecting patterns are forming. As for me, this is a specific kind of polymorphism. The more patterns fit the better. Each of them confirms the further course of events. Hence I conclude that further declines are ahead. Of course, I could be wrong here, but it looks sensible to me. This is not financial advice.
BITSTAMP:BTCUSDShort
by stanosky
3
📈 How to: Bullish Rectangle PatternThe rectangle is a classical technical analysis pattern described by horizontal lines showing significant support and resistance. It can be successfully traded by buying at support and selling at resistance or by waiting for a breakout from the formation and using the measuring principle. 📍Understanding the Bullish Rectangle Candlestick Pattern The bullish rectangle candlestick pattern is a chart formation that appears during an uptrend when prices temporarily pause before resuming their upward movement. It represents a period of temporary equilibrium as the price moves sideways. When the price breaks out above the upper resistance level, the pattern is considered valid, and it generates a buy signal. Bullish rectangle patterns are a type of classical chart pattern that indicate a period of indecision between buyers and sellers. They are common and powerful patterns used in breakout trading. On the other hand, the bearish rectangle pattern is the opposite version of the bullish rectangle pattern and follows the same formation and rules but occurs during a bearish market trend. 💥Key Takeaways: 🔹 The rectangle pattern signifies a lack of trend as the price fluctuates between horizontal support and resistance levels. 🔹 Traders have different approaches to trading rectangles: 🔹 Some choose to trade within the rectangle, buying near the bottom and selling or shorting near the top. 🔹 Others prefer to wait for breakouts, which occur when the price moves out of the rectangle. 🔹 The rectangle pattern concludes with a breakout, marking the end of the price's sideways movement between support and resistance levels. 👤 @QuantVue 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
3
EURCHF: Classic Wyckoff Pattern 🇪🇺🇨🇭 Traders, I see a classic Wyckoff accumulation pattern on a daily time frame on EURCHF. After a strong bearish wave, the market started to trade within a horizontal trading range. Even though, the price set a new low, consolidating, the market managed to return to the upper boundary of the range. Yesterday, a high momentum bullish candle was formed. The market successfully broke and closed above the range's resistance. It makes me think that the described consolidation was the accumulation stage and a bullish movement is coming. Goals: 0.9813 / 0.9848 ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
3
LINK TO THE PASTHistorically Link has been brilliant to trade from a technicals perspective. You can see the prior consolidation channel and the 2 x Head and Shoulder patterns that played out beautifully. You can also see how the green circles were great entry levels At present we appear to be in a consolidation box awaiting breakout. I am leaning Long Term Long for the following reasons: - On Balance Volume is increasing - Break above 50 week MA - RSI pressing upwards - 90% correction in price since May 2021 (when we broke RSI resistance line, important to watch for this and exit trade if it occurs). - LINK/BTC is also in a downward channel and looks ready to break out - You will see from my recent BTC Dominance chart i believe we will have a slight pull back in dominance over coming weeks offering ETH and Alts an opportunity to make some gains - The prior patterns, the H&S, Parallel channel and subsequent H&S top, these all lasted between 52 and 72 weeks. We are in this current consolidation pattern almost 50 weeks. It is probable that we get a break out within 2 - 22 weeks. Trade Management (swing trade) - A retest of the 50 MA would be a reasonable entry. Bottom of the box event better. - Break below box, exit trade. - Trade timeline 2 - 22 weeks (explained above) - If already in the trade I would be keen to exit the trade once in oversold territory on the weekly RSI (We can always reenter it later). PUKA
COINBASE:LINKUSDLong
by PukaCharts