Rectanglepattern
BAND: WATCH FOR RECTANGLE PATTERN BREAK Nice multi month consolidation on BAND .
The chart has formed a rectangle pattern which will either lead to reversal or continuation.
The rectangle pattern can be successfully traded by buying at support (143) and selling at resistance (190) or by waiting for a breakout from the formation.
With all the moving averages rising to support the price I would bet on an imminent break out and continuation to the upside.
The measured move or initial target is calculated by adding the width of the rectangle to the break out point, which is in the 237-242 zone. The reliability of this pattern is high (about 79%).
I'll be watching for a break out of the rectangle to initiate a long position.
Trade safe.
BTC/USD is Pushing HigherHere's the 15m chart of the BTC/USD. By following the analysis of a long time frame, we can say that the overall trend is an uptrend. But at present, the BTC/USD made the bearish rectangle pattern by moving sideways. So, as per the rules of the bearish rectangle pattern, the trend fell. And again started to move upward and it will reach the following targets 18400 - 18520 . After that, there is a hurdle at 18540 . If the trend crosses that, then the further target will be 18600 - 18730 .
EURJPY Entry 124.292 Exit 122.517 Stop Loss 124.792EURJPY Entry 124.292 Exit 122.517 Stop Loss 124.792
Risk 50 Pips
Reward 177.5 Pips
R Multiple 3.55R
Risk $1000.00
Lotsize 2.111 (211,104)
Pip Value $9.4740
Risk $100.00
Lotsize 0.2111 (21,110)
Pip Value $0.94740
Risk $10.00
Lotsize 0.02 (2,111)
Pip Value $0.094740
EURCHF Rectangle Pattern. Watch Level 1.08379 and 1.07163.EURCHF Rectangle Pattern. Watch Level 1.08379 and 1.07163.
Kyber Network (KNC USDT) - Breakdown of Recent Trades I recently took two discretionary positions on KNC/USDT. In this analysis I've documented my thought process and execution sequentially from left to right in the call outs.
In these trades I used several methods of analysis.
1. Chart Patterns
My first trade entry was predicated upon a Rectangle Top Pattern I identified KNC forming. Rectangle Tops occur during bullish up trends and when the overall market is bullish, as altcoins currently are, they have a high probability of breaking to the upside.
2. Trend Analysis
Fundamental to my trading strategy is trading in the direction of the overall trend. Trading against the dominant trend is like stepping over dollars to pick up pennies. Using the Daily and 4HR time frame, I identified that KNC was above my Base Line indicator, therefore confirming a bullish trend and that I should be trading to the long side.
3. Target Measurement
For my initial trade I used Bulkowski's measurement method for Rectangle Tops, measuring the difference from Resistance to Support and adding that to Resistance. This proved to be successful, however my first trade ended up running quite a bit beyond my target. For this reason I used my primary method of profit taking, 50/50. I take 50% of my profit at a pre-determined level and allow the rest of my position to run to take advantage of powerful trends.
4. Indicator Support
Utilizing my ICYSbot indicator and strategy to help supplement entry and exit conditions.
5. Patience and Risk Management
I used a position sizing strategy where a pre-determined percentage of my account is at risk should my trade hit the stop loss. In this case, I personally used 2% risk per trade. I also did not rush these trades, I let price evolve and the trend emerge as it did. I attached no personal bias or feelings toward the trade.
Overall, quite happy with these trades. I hope this post was helpful in providing insight into how I view the markets and trade execution. Thank you for your support.
Trade safely!
Rectangle pattern: make your decision (Better % on the short sidBe on the lookout for a potential gap when breaking out either to the topside or the downside.
Sideway or Rectangle Pattern during December 2018 in GBPCHF pairIn this GBPCHF pair of Forex, long sideway or rectangle pattern I identify numerous touches in the support lines. This lines indicate the highest and lower stocks prices (average) during the timeline of this pattern.
