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Reversal

BTC - Key Rejection Zone!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. BTC rejected the 30,000 resistance zone and now trading lower for a bearish correction. If BTC breaks below 27,000 previous major low, we will expect a movement till 25,000 zone where we will be looking for long-term trend-following buy setups. 🏹 Here is why the 25,000 zone marked by red circle is a strong support: 1- Round number => 25,000 2- Classic Resistance Zone Turned Support 3- Lower red trendline acting as a non-horizontal support 4- Lower orange trendline acting as a non-horizontal support 5- Demand zone 📈 As per my trading style: As BTC approaches the red circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
33
ETH - Long-Term Trend-Following Setup 🏹Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. After rejecting the 2000 resistance, ETH has been bearish short-term making lower lows and lower highs on H4. 🏹 Here is why the 1750 zone marked by purple circle is a strong support: 1- Round number => 1750 2- Classic Resistance Zone Turned Support 3- Lower red trendline acting as a non-horizontal support 4- Demand zone 📈 As per my trading style: As ETH approaches the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
19
A Four Hour Evening Star Formed at 38.2Weekly momentum may suggests that intraday momentum is bullish. Last week closed out a very strong bullish engulfing from the low of a weekly range. However The Daily is currently at a key reversal area despite its attempt to create a higher high. The 4 hour has been uptrending with high highs and higher lows despite many weak bullish candles. I believe price is relativelty close to topping out at its high for a reversal given that a confirmed evening star formed at a zone, resistance and the major 38.2 level. The one hour has already broken a bullish correction trendline and the 8MA has crossed to the downside of the 21SMA. 0.67872 is a key area for a short re-test as well as the wick of the evening star. There a monthly resistance right above this new high. I'll be monitoring the 4 hour timeframe for more signs of bear strenth. I'll be looking to enter on a 30MIN or 1 hour set up.
Short
by DesharedPierreJr.
How to identify a trend reversal using market structureThere are multiple ways to identify a trend reversal . You can look at the price and see if it was going up and is now going down and BOOM congratulations! You just spotted a reversal. However, I always like to analyse the market a little bit more and try to quantify what I see. This helps me to trade unemotionally and make fewer mistakes in analysing the markets. So how do we do this? Let's get into it. Determine the important price points at the initial trend . Which are in this example (bearish trend) the lower highs and the lower lows the downtrend trend keeps forming. Always look for the lower lows/highs and higher lows/highs in a trend. As long as a downtrend keeps making lower lows and lower highs, the downtrend is continuing. As always, the price starts consolidating eventually which means that no new set of lower lows and lower highs are made. When the price breaks the level of the last lower high (to the upside). We have a potential break of the market structure (BOS). Which indicates to us the potential trend reversal. When after this BOS a higher low is formed and after the higher low is a new higher high formed then you just spotted a successful BOS and trend reversal. All these higher and lower lows and highs may sound confusing. The best way to learn is by practise and not by reading. So please practise this on your favourite pairs and you will notice that it gives you more confidence in the market but also a clear vision of the structure of the pair or market you are analysing. This is not a trading strategy to find good entries but more something you can always use alongside your strategy to give you a clear vision of the market you are trading. Let me know what you think!
Education
by yorick7878
2
NIO REVERSES within descending parallel channelOn the 30-minute chart, I have drawn the upper (red) and lower (green) trendlines of the descending parallel channel. While it had been riding the upper edge of the Fibonacci/ EMA channel, it has reversed and headed toward the base EMA with the candles green to red. The zero-lag MACD indicator lines crossed above the histogram while the True Strength Index oscillator has had a line cross in the supply / resistance zone for further information. I conclude it is time to close long positions in profit and cross the aisle into short positions. I will take a put option trade for the expirations of 5/19 @ $ 9.50 but a less risky trade would be a longer exiration by 1-2 weeks ( while at the same time decreasing the reward potential.)
NYSE:NIOShort
by AwesomeAvani
BTC - Medium-Term View 🔎Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📌 H4: Left Chart BTC is currently overall bearish from a medium-term perspective trading inside the falling channel in orange. Now BTC is sitting around the upper orange trendline acting as a non-horizontal resistance. 📌 on H1: Right Chart BTC bullish short-term as a correction trading inside the rising channel in red. If BTC breaks below the lower red trendline and zone, we will expect the next bearish impulse to start pushing till the lower orange trendline. 📉 Meanwhile, BTC is still bullish short-term and can still break above the upper orange trendline to retest the 30k-32k zone. Which scenario do you think is more likely to happen first? and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
18
SPCE ? Consolidation ? Short Squeeze ?SPCE is at a line in the sand of the chaos of the market. On the 4H chart, price has bottomed and might be making a reversal pivot as supported by a rising line segment on the RSI out of the oversold zone. The though of a reversal is also supported by price crossing over the POC line of the volume profile. Price above the POC line shows buyers are dominating although some of the buyers are buying to cover shorts. Below the POC line, sellers are dominating. If SPCE can get a trajectory upward, a short squeeze could ignite a launch. ( Fundamentally, SPCE is dying and waiting for Eton Musk to make a good offer.) This could be worth watching with an alert set 10% above the current price and a volume alert at 50% above the moving average 20-day volume.
NYSE:SPCE
by AwesomeAvani
1
NZDCAD - Still Trading The Channel 📉Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. NZDCAD has been overall bearish trading inside the falling channel in orange, and as per my last analysis (attached on the chart) we have been trading the channel. Now NZDCAD is approaching the upper trendline again. As per my trading style: As NZDCAD is sitting around the purple circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) We will be looking for sell setups, UNLESS the channel is broken upward. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Short
by TheSignalyst
10
Time to buy PLUG? The PLUG short I posted a while back turned out to be right-on-the-money. Now I wonder if it's time to scale back in. PLUG has been absolutely hammered and is lagging behind the recent rally. I trade based on technicals, so I have no fundamentals to point to as to why this might be the time to buy PLUG, but looking at the chart, I can't help but think: Who the hell is selling here? We've clearly established some local support around HKEX:9 here, supported by the VPVR spike circled on the right. I think this is going to come down to macro trends, so this idea could easily get invalidated. But I've marked some targets based on previous levels I'll be looking to take profit on if we do see the rally I'm hoping for. If this idea^ doesn't sound all that convincing, then don't buy, I don't blame you. I would consider this a pretty aggressive entry point, but I'm not watching the market closely enough to wait around for more clear indicators of a reversal. So I'm yolo'ing in and will set an alert to prompt me to stop out if I'm wrong. I already got stopped out of my previous re-entry attempt, which is also partly which I'm scaling in. I also marked a mega-bear target, in case I'm horribly wrong and the market nukes or continues to slowly bleed down for some reason. Happy trades, CD
NASDAQ:PLUGLong
by cryptodonovan
5
ABT Abbott Labs Med Tech Short Setting UpABT is shown on a 4H chart as setting up for a short trade. Demand and Summply Zones are charted by the LuxAlgo indicator. Price touched the supply zone five times in December- January then descended and touched the demand zone several times in mid-March. Fundamentally, earnings reports have been solid. Medical stocks are generally independent of the economy and recession resilient. ABT has risen off the base of bottoms at support . Relative volume exceeds that of the past year showing investor/trader interest has increased. I think it will progress to touch the supply / resistance zone another once or twice and then reverse into a solid downtrend. I see this as worth watching this upcoming week for the reversal.
NYSE:ABTShort
by AwesomeAvani
DOGE - Around Support Again ❗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. As per my last analysis (attached on the chart), we know that DOGE has been sitting around a strong resistance and round number 0.1 DOGE rejected the resistance and traded lower, and now it is sitting around 0.08 support in blue. 🏹 For the bulls to take over short-term , we need a break above the last major high from H4 highlighted in orange. 🏹 And for the bulls to take over from a long-term perspective, we need a daily close above 0.107 In this case, a movement till the next resistance 0.13 would be expected. 📉 If we break below 0.075 , we will be expecting further bearish movement till the lower red trendline where we will be looking for new short-term buy setups. Which scenario do you think is more likely to happen first? and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
18
EURJPY - Strong Resistance Ahead ↘️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. EURJPY has been overall bullish trading inside the red rising broadening wedge pattern, however it is currently approaching the upper red trendline. Moreover, the blue zone 150.0 is a strong resistance and round number. 🏹 So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the green resistance and upper red trendline. (acting as non-horizontal resistance) As per my trading style: As EURJPY approaches the upper purple circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Short
by TheSignalyst
6
AUDUSD - Last Bearish Leg! AUDUSD has given us 3 incredible setups in the last few months. Our first trade setup was after we broke the ascending trendline. We waited for a pullback and jumped in. Currently sitting at around 450pips. We also entered twice more on the clean corrections AUDUSD made. We are now anticipating one final leg down before expecting a reversal. Trade Idea: - Watch for subwave 4 correction - Enter on break of subwave 4 correction with stops above the correction - Manually taper off positions as we move down The longer term trade idea would be the reversal. Once we see the 5th wave down, we can monitor it closely for a reversal. One of the ways we can do that is by draw a descending trendline and wait for a breakout, indicating that bulls have stepped in. Goodluck and as always, trade safe! See below for our VIP setups. AUDUSD Trade 1: AUDUSD Trade 2: AUDUSD Trade 3:
by WicktatorFX
1
USDCAD - Bulls Took Over, Now Wait For Bears!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. As per my last analysis (attached on the chart) USDCAD rejected our lower red trendline and green support, and traded higher. Now USDCAD is approaching the upper red trendline so we will be looking for sell setups on lower timeframes. Moreover, the red zone is a strong supply. 🏹 So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the red supply and upper red trendline. (acting as non-horizontal resistance) As per my trading style: As USDCAD approaches the upper red trendline and zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Short
by TheSignalyst
6
Top 6 Trading Patterns:Have You Seen This Trading Method Before?The problem with candle stick patterns is that it takes time to master them -- Also, you need some interest level to really get it -- Notice this pattern? There are about 4 indicators on this chart -- You need to master Japanese candle stick patterns -- The Top 6 indicators used in this chart: 1-EMA 13 Days 2-Stochastic 3-RSI 4-MACD 5-MACD histogram 6-Japanese Candle Stick Patterns -- Before you trade the inverse pattern which is a very professional strategy -- YOu need to master these indicators mentioned above -- After you master them you will learn how to -- Trade the market and screen for good patterns to trade --Notice how the price is below the market value in this pattern -- Thank you for the boost this chart example is my thank you gift to you -- Study these patterns and indicators when you do come back to this chart -- so that you see this history to confirm your professional knowledge -- Study more -- Regards, Lubosi Forex
NASDAQ:ACHVLong
by lubosi