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AUD/USD - All eyes on SHORT!Hello traders, We are looking at AUD/USD 4HR chart, where we can see price just broke out of a Rising Wedge Pattern. Overall the trend is still Bearish so looking for continuation and for a sell opportunity on the Wedge Re-Test. Wait for Re-test and then a Bearish Candle confirmation and we can enter this trade with great risk-reward. I will update this trade soon, when we reach 5 comments! If you like my work be sure to leave a LIKE or comment below!! See you soon, Rodrigo FAC TEAM
Short
by RodrigoFAC
BTCUSD Triangles, TrendlinesSome patterns i'm seeing on the chart. A sloppy falling wedge, possibly currently forming a rising wedge which leads me to believe it price will not break the upper trend-line of the triangle. With price action forming a rising wedge, with the trendline there and a rejection already, i don't believe the wedge will complete but still gives the same signal with the triangle's trendline right there, that we're gonna move down. Most likely to test the lower trendline of the triangle, but we will see what price action looks like before determining that. We can also see a failed pat bullish flag in the past that lead to us testing the lower trendline. Also notice the falling wedge that had a false (very weak) breakout with a large red candle back down to test the trendline of the falling wedge, and recovered to continue the breakout. These charts are mostly for personal use so do not take this as trading advice, more of a public journal of what i'm practicing. Please feel free to leave any feedback!
BITFINEX:BTCUSDLong
by Silvertoe
Rising Wedge? Or 3 Green Soldiers? Bear/Bull cases for btcShown here on the 4hr chart is a potential rising wedge we may be in. Those tend to break downward....the potential bear flag we were in we seem to have broken upward from but with the current lack of bull volume to go with that break up we now how to explore other patterns. One is this current rising wedge we are seeing on the 4hr which tend to break bearish. However, we also seem to be forming a 3 green soldier pattern on the daily chart which tends to signify a trend reversal and would be bullish, I'm optimistically bullish for now but am keeping the rising wedge breakdown possibility on the table just in case my bullish bias doesn't pan out. I will post a daily chart snapshot below this so you can see the bull pattern as well. Thanks for reading!
BITFINEX:BTCUSDLong
by DrDovetail
Speculative Fractals estimate btc's next 3 ATH prices + datesthis is completely speculative based on the rising wedge we may currently be in...if that rising wedge maintains it's validity then we have here the next 3-4 potentially ath pricepoint and roughly what month and year we should reach them. What I'm seeing currently potentially is with each new peak and crash we appear to be cutting the size of things in half. The last peak to bottom is roughly half the size of the one before it..if we continue this fractal pattern we should form another cup and handle that is half as wide as the last one we triggered to get to our current ath, which also means we should reach each subsequent new ATH in roughly half the time it took for the one right before it. If this fractal holds, then the 3 upcoming speculative ATHs listed here on the chart as well as their month and year should hold a fairly probable chance of playing out. Of course I am not a financial advisor and unlike most of my TA this one is still highly speculative but i was a fun thought that I wanted to share just in case it were to actually play out this way. Thanks for reading.
BITSTAMP:BTCUSDLong
by DrDovetail
7
BTCUSD Models of continuation. Triangles.BASIC MODELS OF THE CONTINUATION OF THE TREND’S MOVE Graphic configurations which will be studies in this chapter are called the models of the trends continuation. These models usually mean that the period of the price stagnation indicated on the graph is just a pause in the main trend development and that the direction of the trend will be the same after they end. The second criterion between the fracture and continuation models is the duration of their formation. The construction of the first ones, which display serious changes on the price dynamics, require more time. The second ones are shorter. It is better to call them short-term and intermediate. Note how often we use the word “usually”. This is due to the fact that the interpretation of graphic models is subject, rather, to general patterns than to rigid rules. There are always exceptions in it. Even the elementary classification of price models is sometimes difficult. There are always exceptions in it. Even the elementary classification of price models is sometimes difficult. Typically, triangles are models of continuation of the trend, but at times they show a fracture of the trend. Although triangles are usually considered intermediate models, they sometimes appear on long-term graphs reflecting the development of the main trend. A variation of the triangle - an inverted triangle - usually means a fracture of the main upward trend. At times, even the "head and shoulders" - the most famous basic model of a fracture - may indicate a phase of consolidation TRIANGLES We will begin a discussion of patterns of continuation of the trend with consideration of triangles. There are three types of triangles - symmetrical, ascending and descending (sometimes called the fourth kind, known as the "expanding triangle" or "broadening formation," but it will be considered below). All triangles differ in shape and have different prognostic functions. SYMMETRICAL TRIANGLE A symmetrical triangle or "spiral" is, usually, a continuation of the trend. It marks a pause in the already existing trend, after which the latter resumes. An example of a bullish symmetrical triangle. Note the two converging lines. The model ends when the closing price is fixed on the market outside of any of the two trend lines. The vertical line on the left is the base of the model, and the point on the right where the two lines meet is the vertex. The minimum requirement for each triangle is the presence of four control points. To hold the trend line, as we remember, two points are always needed. Thus, in order to draw two converging trend lines, each of them must pass through at least two points. The completion of the triangle model takes some time, which is determined by the point of convergence of the two lines that is the top of the model. Usually, the price breakout should be in the direction of the previous trend, at a distance of half to 3/4 of the width of the triangle horizontally. The ASCENDING AND DISCENDING TRIANGLE Ascending and descending triangles are a kind of symmetric but have different prognostic functions. The figure below shows an example of an ascending triangle. Note that the top line of the trend is horizontal, and the bottom line is up. This model means that buyers are more active than sellers. Such a model is considered to be a bullish one and usually ends with a price breakout beyond the upper line. This model is completed when the closing price goes beyond the upper trend line significantly. A breakthrough must be accompanied by a sharp increase in volume. The upper resistance line turns into a support level with subsequent price drops. The minimum price benchmark is determined by measuring the height of the triangle (AB) and projecting this distance up from the breakout point C. The descending triangle model is a mirror reflection of the ascending triangle and is often considered a bearish model. Have a look at the downward upper line and horizontal bottom line on the picture below. This configuration which indicates that the more active the sellers are than the buyers usually ends with the future price drop. Completion of the model usually occurs with the closing price going beyond the lower trend line crucially and is accompanied by an increase in volume. Sometimes this is followed by a price return which meets resistance on the lower trend line. The measurement procedure for this model is exactly the same as for the ascending triangle. You should measure the height at the bottom on the left side of the model, and then project the distance down from the breakout point.
BITFINEX:BTCUSDEducation
by EXCAVO
41
BTC in a giant rising wedge w/an apex close to 1 million in 2023 Decided to look at the overall trendlines for the entirety of BTC on bitstamp on the weekly log chart and it is very very encouraging. Although it is in a giant rising wedge which will eventually break down (most likely once the bubble finally bursts) The good news is we could climb to almost 1 million per bitcoin by 2023 before that happens....of course it could break down sooner than that like many rising wedges tend to do but if it holds out until the apex the dip it would fall to would be from 900k all the way down to the 6,000s which is where we are currently in price action. Also, this strong bottom support line which has held consistent since 2012 is fastly approaching our current price action which means we should soon go up from here and not have to worry about dipping down under the current level after December. Of course this is all my opinion not financial advice I could be wrong and the strong line of support could eventually be broken although an extremely low probability. We should also get back to our all time high range by no later than the end of 2019(possibly sooner) and continue to only go up exponentially from there if the support line holds true which the past has shown us time and time again it will.
BITSTAMP:BTCUSDLong
by DrDovetail
10
Dollar is testing support as Investors wait for Draghi and CPIThe Dollar Index is back near support after a failed rally that we saw in August. The support zone includes the bottom of a rising channel, MA line and a structure zone (previously resistance, now potential support) On Thursday we will have the ECB meeting and the U.S CPI data - Two events that can (and probably will) impact the Dollar. The bearish scenario shows potential to reach 93 The bullish scenario shows potential to reach back to the top of the channel What do you think?
TVC:DXY
by themarketzone
Higher low? Or breakdown confirmation of rising wedge?We have to dip under 6.8k to forma lower low and hand control back to the bears. If not we will simply form a higher low. There's a chance we can bounce back up into the rising wedge but if this current 4hr candle closes here or lower there is a very high probability it will trigger the breakdown that can potentially send us back inside the weekly descending triangle pattern. Let's hope by the time it reaches the 1 day 200ma that we see a bounce it seems like once it gets there the 4hr rsi will be hitting the oversold zone so a bounce there is possible..however if the breakdown from the rising wedge is triggered it will only be a dead cat bounce at most. Hopeful that we bounce up from there and prevent going back into the triangle.
BITFINEX:BTCUSD
by DrDovetail