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EURCAD SHORT EURCAD Set-Up Bearish Arguments: Monthly PCH is being respected Monthly Bearish FVG being respected Monthly swing high has been swept Weekly swing high is being respected Daily Bearish FVG is being respected Daily swing high is being respected 4H swing high is being respected Bullish Arguments: Weekly swing low is being disrespected Daily swing low being respected so far 4H Bullish FVG being respected 4H swing high being respected As observed, the bearish probability is around 70%, while bullish odds stand at 30%. For this reason, risk management is crucial. Trade Management: Stop-loss placed at the short-term high. First TP set at SellStop. Once this level is reached, move the SL to break-even (BE) and hold until the final target is reached. Risk-to-Reward (RR): 2.45 Risk: 2%
Short
by Jaytradermb
MarketBreakdown | AUDUSD, USDCHF, EURGBP, GBPCAD Here are the updates & outlook for multiple instruments in my watch list. 1️⃣ #AUDUSD weekly time frame 🇦🇺🇺🇸 The market opening is very bullish for the pair. We see a breakout attempt of a major horizontal weekly resistance. If a weekly candle closes above the underlined blue area, it will open a potential for much more growth. 2️⃣ #USDCHF daily time frame 🇺🇸🇨🇭 The market is currently consolidating within a relatively wide horizontal parallel channel. The price is currently approaching its support. With a high probability, a consolidation will continue, and we will see a bullish movement from that. 3️⃣ #EURGBP daily time frame 🇪🇺🇬🇧 The price violated a significant daily/weekly horizontal support last week. Because the pair is trading in a long-term bearish trend, such a violation indicates the strength of the sellers and a highly probable bearish continuation. 4️⃣ #GBPCAD daily time frame 🇬🇧🇨🇦 The market is trading in a strong bullish trend. Currently, we see a breakout attempt of the resistance based on a current high. If a daily candle closes above that, it will confirm a bullish continuation. Do you agree with my market breakdown? ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
5
CTVA - 8 months RECTANGLE══════════════════════════════ Since 2014, my markets approach is to spot trading opportunities based solely on the development of CLASSICAL CHART PATTERNS 🤝Let’s learn and grow together 🤝 ══════════════════════════════ Hello Traders ✌ After a careful consideration I came to the conclusion that: - it is crucial to be quick in alerting you with all the opportunities I spot and often I don't post a good pattern because I don't have the opportunity to write down a proper didactical comment; - since my parameters to identify a Classical Pattern and its scenario are very well defined, many of my comments were and would be redundant; - the information that I think is important is very simple and can easily be understood just by looking at charts; For these reasons and hoping to give you a better help, I decided to write comments only when something very specific or interesting shows up, otherwise all the information is shown on the chart. Thank you all for your support 🔎🔎🔎 ALWAYS REMEMBER "A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist" ═════════════════════════════ ⚠ DISCLAIMER ⚠ Breakout Area, Target, Levels, each line drawn on this chart and any other content represent just The Art Of Charting’s personal opinion and it is posted purely for educational purposes. Therefore it must not be taken as a direct or indirect investing recommendations or advices. Entry Point, Initial Stop Loss and Targets depend on your personal and unique Trading Plan Tactics and Money Management rules, Any action taken upon these information is at your own risk. ═════════════════════════════
NYSE:CTVALong
by TheArtOfCharting
UNITDSPR Breakout, Long for IntradayUNITDSPR Breakout closing in 15 Min. chart, Rectangle/Flag & Pole pattern breakout. Daily Trend is also upwards Wait for the retracement then can go for long position. Question : Why wait for retracement? Ans : Already made 8 green candles, there is a high probability that a red candle can be formed only then we can see the intensity and exact seller price. If sellers are strong then it can be a breakout fail or if buyers are strong then that red candle will be act like a small stoploss/better price place for Buyers. Note: This is just an analysis wait for the price to confirm. Disclaimer : Always follow Risk to Reward, because this is the key to success in this business, no matter how much good a trade is looking, we never know the future.
NSE:UNITDSPRLong
by smrgrover2
MCD Mcdonalds is breaking out of the rectangle.MCD stock is breaking out of the rectangle with the 13 days Elders Force Index above 0. This is a good signal to Buy and set the target as the height of the rectangle shape The rectangle pattern forms when the price moves within two horizontal lines—one acting as resistance (upper line) and the other as support (lower line). This typically indicates a period of consolidation where buyers and sellers are in relative equilibrium. Duration: The rectangle can last for a few weeks to several months, depending on market conditions. The longer it lasts, the more significant the potential breakout may be. This breakout is significant as it has lasted for many months on end. Direction of Breakout: Bullish Breakout: If the price breaks above the resistance level, it suggests that buying pressure has overcome selling pressure, potentially indicating the start of an upward trend. Volume Confirmation: A breakout is more reliable if accompanied by increased trading volume. High volume during the breakout suggests strong interest and conviction among traders, lending credibility to the price movement. This is why we use the 13-day Elders Force Index Psychological Factors: Breakouts often attract attention from traders and investors who may see the movement as a signal to enter or exit positions. This can create momentum in the direction of the breakout. Conclusion In summary, a breakout from a rectangle pattern signifies a shift in market sentiment and can lead to a new trend. Traders watch for these breakouts closely, as they provide opportunities for profit, but it's essential to consider confirmation through volume and other technical indicators to avoid false signals.
NYSE:MCDLong
by lawmuic
BGN - 5 months RECTANGLE══════════════════════════════ Since 2014, my markets approach is to spot trading opportunities based solely on the development of CLASSICAL CHART PATTERNS 🤝Let’s learn and grow together 🤝 ══════════════════════════════ Hello Traders ✌ After a careful consideration I came to the conclusion that: - it is crucial to be quick in alerting you with all the opportunities I spot and often I don't post a good pattern because I don't have the opportunity to write down a proper didactical comment; - since my parameters to identify a Classical Pattern and its scenario are very well defined, many of my comments were and would be redundant; - the information that I think is important is very simple and can easily be understood just by looking at charts; For these reasons and hoping to give you a better help, I decided to write comments only when something very specific or interesting shows up, otherwise all the information is shown on the chart. Thank you all for your support 🔎🔎🔎 ALWAYS REMEMBER "A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist" ═════════════════════════════ ⚠ DISCLAIMER ⚠ Breakout Area, Target, Levels, each line drawn on this chart and any other content represent just The Art Of Charting’s personal opinion and it is posted purely for educational purposes. Therefore it must not be taken as a direct or indirect investing recommendations or advices. Entry Point, Initial Stop Loss and Targets depend on your personal and unique Trading Plan Tactics and Money Management rules, Any action taken upon these information is at your own risk. ═════════════════════════════
MIL:BGNLong
by TheArtOfCharting
HINDALCO - 4 months RECTANGLE══════════════════════════════ Since 2014, my markets approach is to spot trading opportunities based solely on the development of CLASSICAL CHART PATTERNS 🤝Let’s learn and grow together 🤝 ══════════════════════════════ Hello Traders ✌ After a careful consideration I came to the conclusion that: - it is crucial to be quick in alerting you with all the opportunities I spot and often I don't post a good pattern because I don't have the opportunity to write down a proper didactical comment; - since my parameters to identify a Classical Pattern and its scenario are very well defined, many of my comments were and would be redundant; - the information that I think is important is very simple and can easily be understood just by looking at charts; For these reasons and hoping to give you a better help, I decided to write comments only when something very specific or interesting shows up, otherwise all the information is shown on the chart. Thank you all for your support 🔎🔎🔎 ALWAYS REMEMBER "A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist" ═════════════════════════════ ⚠ DISCLAIMER ⚠ Breakout Area, Target, Levels, each line drawn on this chart and any other content represent just The Art Of Charting’s personal opinion and it is posted purely for educational purposes. Therefore it must not be taken as a direct or indirect investing recommendations or advices. Entry Point, Initial Stop Loss and Targets depend on your personal and unique Trading Plan Tactics and Money Management rules, Any action taken upon these information is at your own risk. ═════════════════════════════
NSE:HINDALCOLong
by TheArtOfCharting
RL - 7 months RECTANGLE══════════════════════════════ Since 2014, my markets approach is to spot trading opportunities based solely on the development of CLASSICAL CHART PATTERNS 🤝Let’s learn and grow together 🤝 ══════════════════════════════ Hello Traders ✌ After a careful consideration I came to the conclusion that: - it is crucial to be quick in alerting you with all the opportunities I spot and often I don't post a good pattern because I don't have the opportunity to write down a proper didactical comment; - since my parameters to identify a Classical Pattern and its scenario are very well defined, many of my comments were and would be redundant; - the information that I think is important is very simple and can easily be understood just by looking at charts; For these reasons and hoping to give you a better help, I decided to write comments only when something very specific or interesting shows up, otherwise all the information is shown on the chart. Thank you all for your support 🔎🔎🔎 ALWAYS REMEMBER "A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist" ═════════════════════════════ ⚠ DISCLAIMER ⚠ Breakout Area, Target, Levels, each line drawn on this chart and any other content represent just The Art Of Charting’s personal opinion and it is posted purely for educational purposes. Therefore it must not be taken as a direct or indirect investing recommendations or advices. Entry Point, Initial Stop Loss and Targets depend on your personal and unique Trading Plan Tactics and Money Management rules, Any action taken upon these information is at your own risk. ═════════════════════════════
NYSE:RLLong
by TheArtOfCharting
Bitcoin: Strong Bullish Momentum AheadBTCUSDT technical analysis update Currently, Bitcoin has been trading within a range for the past 200 days. From March 2023 to October 2023, the price fluctuated between GETTEX:25K and $32K for 224 days before breaking the range and bouncing over 130%. Now, we are observing a similar pattern, with Bitcoin trading inside a rectangle since February, between $53K and $73K. The price is approaching a potential breakout, which could occur within a month. Once the breakout happens, we may see a strong bullish move. Regards hexa
Long
by HexaTrades