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Simplepatterns

waiting candle patterni have found a nice head and shoulders pattern based upon rules i have created in order to read structure. currently sat back watching and waiting for a specific candle stick pattern within its current pullback motion. exits i will take are on the chart however my stop loss may change slightly depending where my entry reasons are met. once something has changed i shall update you guys! what do you guys think? and are you currently enjoying the waiting game? happy trading guys :)
Short
by ajohnson9710
Xau/Usd at channelThere has been a long bullish trend in Xau/Usd and the price is now at the moment in the weekly resistance zone and also soon at the top of the channel. That means we could see a potential pullback to 1296 zone where the latest bullish push was, where the price also broke daily resistance that is also the reason why i possibly see the price dropping, cause when resistance has broken it should also be retested (of course not always)to see its holding. However, to go short price action should show some exhaustion in this resistance zone. Tomorrows Gross Domestic Product, FOMC and Fridays NFP could increase Dollar strength and potentially start the selling phase this week. Otherwise, if bulls successfully capture the zone price most likely will continue to 1350 without seeing much exhaustion on the way.
FX_IDC:XAUUSD
by Keylevelfx
Simple Patterns Tutorial, The Correct Way To Trade Double Tops In this short tutorial, we will look at the three most common Double Top formations along with how to properly trade them and when/where they typically appear on a chart. Double Tops work very well as trend continuation patterns for the obvious reason that you are trading with the underlying trend (strength) in the market however, Double Tops can also be a great tool for identifying and trading trend reversals. I do not recommend trading these patterns as reversals at every support or resistance level, as trading this way will most likely not be a consistently profitable trading strategy. One method to trading these patterns as reversals is to use higher timeframes to identify important price levels. For Example- You may use the Daily chart to identify important support/resistance structure levels while using the 1hr chart to actually identify and trade the double top itself.. Every strategy should have something called conditions and criteria's for entry.. If you follow my work, you have heard me say this in the past. In the case of this example, A daily level of structure Support/Resistance would be our condition and a double top on the 1hr chart would be our criteria for entry.. You rules should state this: Condition: 1) Price must retest a daily level of support or resistance in order to look for entry criteria. Criteria: 1) After price has retested a daily level of support/resistance, I am allowed to look for a double top entry on the 60 minutes timeframe. -See example of this exact trade at bottom of description (Chart 4 and 5) Chart One: Most Common Double Tops Chart Two: Examples Of Double Top Reversals & Trend Continuation Chart Three: Double Top Trade Examples Chart Four: Daily Retest Of Support/Resistance: Chart Five: Double Top On 60 Minute Timeframe: Often, you will notice that price is up-trending on the daily chart but down-trending on the hourly charts. Many traders get confused regarding how to handle this confliction of trend.. One way to handle this is by doing what is stated above. Use a higher timeframe like the daily chart to find important price levels, and use a lower timeframe like the hourly or minute charts to trade at these levels. Just because the daily trend is up does not mean we cannot trade a double top reversal on the 1hr chart as that timeframe may be down-trending in a perfectly healthy daily uptrend.. I hope this was explained clearly, please feel free to ask me any questions you have in the comments below or via private chat & I will be happy to help. Also please let me know what double top you think is the best to trade (see chart 3) in the comments below. I will do a follow up lesson to answer this question I am asking you. I think the answer may surprise you & know it will be a AAH-HHA moment in your trading journey! If you would like to put in a request regarding what trading content you'd like to learn more about, please use the link below to submit a vote for future trading tutorials and topics! tradersnsights.myshopify.com Free Position Size Calculator: goo.gl TradersNsights Facebook: www.facebook.com Thanks Traders, as always I hope this was helpful to you!
Education
by Alec40
8
USDJPY 4HR/1HR - HEAD & SHOULDERS TOPHappy Sunday traders, I hope you're ready for another week of quality trading. As I start my top down analysis for the week, one of the pairs that remains on my radar is the USDJPY as we open the week with a head & shoulders top pattern. The head & shoulders pattern is a classic reversal pattern & after last weeks bullish breakout on this pair. Price has rallied into a higher level of previous structure resistance which provides us a little more confirmation when looking for a potential bearish move. Akil
Short
by Akil_Stokes
16
AUDUSD - Potential Head & Shoulder Bottom at Right ShoulderEarlier in the week we did some higher timeframe analysis on the AUDUSD and saw that despite being in a bearish trend, we've reached a level where the sellers may be losing interest & could be in store for a potential reversal. A classic way that the market reverses is in the form of a Head & Shoulders pattern. Thus far we have 3/4 of the pattern complete as we're currently trading at what could be the right shoulder. If price were to violate the neckline in would confirm the reversal pattern and we could project a move higher to the .7300-.7350's level Akil For more on this idea, please see the link below to my latest (non Trading Coach podcast) Youtube Video
Long
by Akil_Stokes
4
Flag pattern on EURCADHi guys, this time we're going with the trend and we're not anticipating any kind of reversal. Instead, since we saw a recent break and close above the Previous Resistance Level (pointed out in the chart) we're now looking to ride the trend untill we get to the next reversal point that will come all the way up to 1,5780. So i went on lower timeframes such as the hourly that you see here looking for some kind of simple pattern showing a break to the upward direction, and i've found a nice flag pattern that's recently been broken to the upside. I'm waiting to see if the order (blue line) will get triggered. IN that case, stops below the low and targets as shown. If you have any idea/question, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Cheers to a spot-on call! Traking the prey like a TIGER!!Hello Fellow traders, Here to an other very simplistic yet very efficient BTC analysis. I posted an idea yesterday telling you we where approching a major resistance point. Well the time has come and BTC has now confirmed this resistance by surprisingly and accuratly bouncing on our predicted key point. We now eye the prey with focus and patience. It might consolidate around this area or it might break down and test the green trendline. Either news is good. We adapt has hunters. Bollinger Bands are still very much open + trading under SMA200 + Volumes give us strong downward momentum to breakdown this resitance. I will keep posting analysis to keep track of the prey. Either way it goes my sniper is loaded. BE PATIENT Your beloved, Zip.
BITFINEX:BTCUSD
by ZipZapZoop
TRXBTC TRON next movesince TRON was traded mostly with BTC and ETH its will not go anywhere, if we see TRXUSD in the near future, it will significantly move the marketcap i think, so, what i will do with this crypto? according to the chart, we can see what make the market move before, all moving average met together, which is investor and trader were moved with the same idea, they agreed to get move up, so i will wait till that happen, im not take this crypto for now and wait and see for the next hype or news that will significantly move the market. anyway if we see more clear signal or news then market move, there is an opportunity double our BTC and ETH here. Good luck
by yanuarmanalif