NEM/XEM ARISE!!!After forming a double top pattern, the inevitable fall came and XEM / NEM was forgotten by many, being the fourth most important coin in the ranking of the crypto market.
Following Bulkowski's theory about the Adam & Adam double top pattern, where levels A, B and C are marked, and then take a change in the trend towards a bull market. coinmarketcap.com
We will have to get around the kumo and not get into it, to achieve the target price.
As one of my 3 favorite coins and thanks to her having done in February of this year the best trade so far, I hope we continue to give us great joys.
As always, greetings to all and thank the followers for the feedback, likes and good vibes.
Stay strong, keep bullish!
Thank you
Rising
$BABA breakout lookout-higher time frame shows defined uptrend and significant trend strength
-intermediate time frame shows strong uptrend with rising moving averages with price reaching resistance area of 125.5x area
-looking to price to test demand line and pullback to 125.56-.57 area which is the .236 retracement level on the shorter timeframe and demand line area
-rsi and obv aligned with price action
-will also be watching for a trendline break to the 125.0x area on the intermediate time frame which is the .382 retracement level on the shortertime frame
-if trendline is broken- it will signal trend weakening after third test and breakdown of the trendline and be cautious in initiating a position
-looking to retest test the resistance area of 125.5x on the fourth retest and breakout to first profit target at 126.51 (.618 extension level)
$ibn swing trade idea-long term trend- rising moving averages with strong trend
-intermediate trend in positive with relative strength increasing with room to run
-intermediate moving average is slightly weakening pulling back into .38 retracement level and where dynamic support is found
-volume by price is showing there is volume in this area supporting evidence that shows possible strong support at 9.66 area
-looking for retest of 9.66 area for entry for swing move to target 9.89 resistance..take partial profits and re-enter trade on breakout
-will not enter if it goes below 9.62
DIS - Upward channel or Rising wedge breakdown short from $108.5DIS was going higher within an upward channel or rising wedge formation. It seems broken down the pattern, retested the broken support and getting ready to rollover. It would be a good short, If it breaks below 50 day MA, and for trade we would consider $110 May-17 Puts
* Trade Criteria *
Date First Found- February 23, 2017
Pattern/Why- Upward channel or Rising wedge breakdown
Entry Target Criteria- Break of $108.50 and MA-50
Option - $110 May-17 Puts
Exit Target Criteria- $104.13 & lower
Stop Loss Criteria- $111.07
Please check back for Trade updates. (Note: Trade update is little delayed here.)
EURCAD small rising wedge patternsmall rising wedge pattern formed at key area
price broke through key area (1.40000) wedge may be a retracement
if price breaks below bottom trendline i will enter short
a similar pattern formed just above weekly level which may trend continuation
double bottom formed on daily chart, price may be going for triple bottom
Bullish Squeeze on BMP:ASXWait for pull back to rising support then game on if it breaks 0.48 on some volume.
GBPUSD: Rising Wedge Setup! Good short!Hey guys! Found a Rising Wedge Pattern right here on the GBPUSD Daily chart! Soon to be completed! Watch for the breakout!
What influenced my decision:
-Falling volume
A rising wedge should always have falling volume, this shows that there are a decreasing number of buyers, which gives conviction that the pattern will fall.
-Really Strong Downtrend (both of Daily and Weekly timeframes)
This implies that the pattern would be more reliable because of the strong downtrend.
-Less than 50% Fib Level
Most times, the rising wedge is kind of a retracement on the higher timeframe, so if the rising wedge is lesser than the 50% Fib Level, this gives a stronger signal that the wedge/retracement is likely to fall!
- Narrow trend lines
In Thomas Bulkowski's Getting Started to Chart Patterns, it was discovered that narrow trend lines performed better than steeper trendlines. Basically this means that trend lines with 30 - 45 degrees will perform better than those above 60 degrees.
-Good Amount of Trend line Touches
Again, Thomas Bulkowski (this guy is a genius, read his books guys!) found out that the more times that price touches the trend lines (at least 3 touches), the breakout will perform better as it means that the breakout is more SIGNIFICANT.
Confluence Score: 5 points
Good luck guys! May the pips be with you!
Do note that not ALL of my trades will be correct 100% of the time! I only provide what I see and what I feel as a trader! Trade my views at your own risk! :)
Go Long on XAU/USDThe break of bullish pennant brings gold on the higher price level and creates new potential strong resistance. The price will likely retrace on 1.618 of XA as it forms crab harmonic pattern. The target of harmonic pattern conjuncts with pennant target, and finally will complete rising wedge pattern. The current state is on excessive phase, the price was going up and down, the trendline start to push more shallow as its below 45 degrees.