Golem inverted descending scallopGolem can be seen to have formed a inverted descending scallop, this may lead to a short term bullish reversal, the performance of inverted descending scallops is poor with a performance of 5/21 in a bear market.
Scallop
Double descending scallop ICXETHTwo descending scallops in a row! Will this pattern continue with a third? Small bullish upside expected in the near/short term due to the formation of this chart pattern, as can be seen on the first descending scallop.
XRPUSD Descending ScallopFollowing an Adam an eve pattern a Descending scallop has presented itself (letter J reversed) short term bullish reversal. Currently reading - Encyclopedia of chart patterns - Thomas N. Bulkowski, I recommend this for anyone attempting to learn chart patterns, as it was recommended to me. Enjoy !
CADJPY still bearishon the way to the lower border of the downward channel
TP1 79.00
TP2 78.00
long-term trade
Reliance Industries stock trade setupReason(s) for Trade:
Stock was moving upside
Stock regarded the Resistance (15Min) and bounced back.
Breakout? If stock back to upside move and break the resistance, it can give a good move.
Trade Setup:
Buy if goes above 1285.10
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USDJPY breakdown for the next few days.11I am not one for breaking down Forex pairs but I thought I would give it a try. You can see in the last few days there has been some other patterns and trends occurring, pennants, descending scallop, consolidation. Now I think we are in a big rising wedge and one is breaks the wedge it can go down to the 110 mark or maybe even the 110.316 mark. when it gets to the 112.009 resistance I think it could break out of the wedge early or break it and continue with the pattern and fall at an later date.
Please leave thoughts below, would be very much appreciated!
US Dollar: Mind the scallopsScallops are broad patterns as shown in the chart. Whilst de-dollarisation is happening at a slow macroeconomic pace, coming from Russia, China and Japan (largely), it doesn't mean that the US Dollar will simply roll over.
The pattern of the scallops is quite visible. Now the US-Dollar is at a critical point and making attempts to do another scallop. I don't assume that each scallop will be less prominent than the previous. Overall the trend from April 2018 seems to be weakening but I make no assumptions that in the short term (next few weeks) the US-Dollar will not bounce north.
US-Dollar strength is broadly inversely correlated with commodities, metals and US-stock-markets - whilst affecting the strength of other currencies indirectly.
The pattern is useful in terms of assessing other positions in the markets both on Stock Markets and Forex.
EURUSD Scallop Pattern for Long OpportunityAs described in the chart.
Details will be published on our website.
Inverted J - Scallop setupDin exploded after latest earnings gaining 50% in little time. Been in mean reversion mode since arching down to the 55 fib which is where i like em for these scallops. Had a nice niggle today went in with half position will look to add more if this starts to look the part.
scallops into the bull marketHeres another coin that has similar short term price action. while the overall pattern is quite different the short term rounded bottom remains the same. Looking for a good pump on this one as well.
Could name several others but dont want to spread myself to thin.
another good rounded bottom/scallopvery similar to SNT linked below. A LOT of coins are making similar patterns right now.
Quite solid bet that the altcoin bear market is over.
DGD Prefers Scallops RawFine examples of the scallop pattern.
Bulkowski says these "scallop" patterns with 'U' shaped volume perform best.
So far, so good!
DGDBTC seems to be leading the way (no surprises) even though DGDETH has much sharper patterns in previous days.
We're recovering after a failed Cup & Handle breakout. Would be great to see at least one more scallop breakout. Lots of room for positive growth once DGDBTC breaks above the red .500 line.
Cheers!
-B
sorl- scallop setup (inverted j)Looking for another scallop entry with sorl after a second inside day on low volume, short float is around 19% and volume has been drying up nicely.
Trading below 200dma but bouncing off yearly ema and 61.8 retracement
Short term target $7
Longer term Target $10 - $11.25
A Beautiful Ascending Scallop On USOILTextbook form! Putting a buy stop order above the latest candle.
nbev - scallop setupI couldn't resist scanning for some scallop setups or (inverted J's as some call them) after this sell off with the reward being so great and found a good handful of these, but i do like the look of nbev picking some up at the 55% retrace for an initial position. Take a look at the scallop i traded on mlco for price meeting target
Chainlink ascending scallop - parabolic in the makingLINK/BTC is showing what looks like a very strong long-term ascending scallop; it wants to go hugely parabolic.
based on the intersections between this fib extension and the scallop's trendline, we have the following targets (in BTC):
0.0001284
0.00018281
0.00027086
0.00035891
0.00041332
trade at your own risk.
XAUUSD : Potential Reversal Suspected to 1419Bulkowski's Inverted Scallop in sight on Daily.
Has Trendline Resistance at around 1325-1327
EMA20 on daily at 1325 may provide necessary bounce.
A: 1305.38
B: 1375.92
(B - A) x 61% = Height of Impulse
B + Height of Impulse = Target Price.
($1375.92 - $1305.38) X 61% = $42.82
1375.92 + 42.82 = 1418.74
LNKD (Linked In) Target for 20% gainLinked in created and inverted ascending scallop -- confirmed. (thepatternsite.com). A bonus is the U-shaped volume with the pattern.
This alone sets the target price at 279.25.
In addition, a cup and handle is in the process of forming, which if successful, sets an intermediate target price at 263.
On Balance Volume (OBV) also remains in a very positive upward trend.
