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USD/JPY some more correction in 1H TimeframeHi Dears If you look carefully at the chart of the USD/JPY, you can see that we have to continue our bearish momentum until to reach the base of the pole. But why? First of all, we had an SR line at around 131.764 that the price Engulfed later and made an FTR zone, and also the price pulled back to it later so we can say that we have a flag limit (FL) zone. This FL zone was Engulfed later on 5 April and when this happened, we expect the price to reach the base of the pole. Sincerely Hosein Poursaei
Short
by hosein-9879
BTC/USDT Weekly Timeframe Analysis Hi Dears Today let's analyze the bitcoin chart by RTM Method and in the weekly timeframe . If you look carefully to this chart, you can see the resistance level (SR Line) at around 28800 that the price pulled back to it twice (Jan 2021 and June 2021) . This level was broken on 9 May 2022 and the price failed to return to its uptrend so the bear FTR strategy is made. The green Pin bar that is closed on 30 May is our FTR Zone that the price has not pulled back to it yet. This zone is the range between 29200 to 32200 dollar. The price is reaching to that zone so we expect a bearish reaction when it reached. This is a key level for making short position. Also we have another SR LINE at the level of the 25100 that the price engulfed it on 13 Feb 2023 and it made a bullish FTR on the zone between 19600 to 21200. This is a key level for making long positions. Don't forget to take a trigger when the price reached to that zone and then TRADE it. you shouldn't do anything without trigger. Sincerely Hosein Poursaei
BITSTAMP:BTCUSDShort
by hosein-9879
BTC/USD Daily Timeframe - Maybe Quasimodo Level Hi Dears Today let's analyze the bitcoin chart by RTM Method and in the daily timeframe. If you look carefully to this chart, you can see the resistance level (SR Line) at around 21500 then the FTX news cause the market to fall sharply to around 15500. This level was broken on 17 Jan 2023 and the price bounced sharply. The FL is made and we can see that there is a pullback to this FL zone on 10 Feb 2023. This FL was Engulfed 3 days ago and the price returns to its uptrend. The important thing is that the FL is engulfed clearly by the price so we have to take our bearish scenario. Also the Quasimodo Pattern is creating and we have to wait for this pattern to be completed. we engulfed the bottom of the left shoulder and a head is seen. When the price reaches the Kink zone, we have to wait for trigger or signal bar. Then we make short at this level. Becarefull that we have to see the trigger and then go short. Sincerely Hosein Poursaei
INDEX:BTCUSDShort
by hosein-9879
BTC: 2 Quasimodo Patterns FormingHELLO GUYS... Based on the pattern analysis I have described, it appears that Bitcoin is forming two patterns known as Quasimodo patterns, which I have labeled as QML1 and QML2. By engulfing the two specific areas, the patterns have been confirmed. It seems that Bitcoin is currently moving rapidly towards the level of pattern one, and there is a possibility of a drop to $20,000 from that area. After that, the second pattern starts to grow again and reaches at least $23,500. However, it's important to keep in mind that technical analysis is not always accurate and market movements can be unpredictable. It is essential to consider other factors such as market sentiment, news, and overall market trends before making any trading decisions. It is always a good idea to have a proper risk management strategy in place and to seek the advice of a professional financial advisor before making any investment decisions.
by melikatrader94
24