Simplepatterns
What is Ethereum doing ??What is Ethereum doing?
I'm evaluating these two markets (ETHUSD & ETHBTC) in one post
And the violet price line in the background is BTC
In the 1h chart we are seeing something cool
ETH for the breakthrough of its second max
ETH for the breakthrough of its second min
Kindof looks trapped in the corridor
These guys seem Ethereum's new bff also
Of course they appear only in the ETHBTC chart
& not very much in the ETHUSD chart (bachground)
Thus its not a very clear signal
Then in the 4h chart we see a more relaxed story
Setting new local min and max
Nothing seems to explode in the near future
And the 1D market more relaxed still
But...
Considering context, always consider context
This may be another page in the story of ETH price
3 bigs tell me this:
Big trend change
Big volume rise
Big price shoot in USD market
And, less important
So
In the end
What pattern will the market obey?
ETH in a new age of uptrend or
ETH just in a normal hiccup
Probably none of these, beauty of it, the market doesn't obey
Not this market at least
Just keep an eye open
GBPUSD. Potential sell on H4 chart.Currently heading north to a significant bounce point, it will tie in nicely with the outer Bollinger band. All I need at this level is the correct candlestick pattern and I'll jump in short with target 2:1 at recent low.
USDJPY - PULLBACK TRADEAs predicted last week we saw a bearish breakout on the USDJPY. After hitting a previous level of inside structure support we started to see a retracement, followed by a bullish pennant pattern to close out our trading week. It'll be interesting to see what the JPY looks like at the open with all that's going on in the southern part of the US but assuming we see normal markets, i'll be waiting for a breakout to the upside, creating a complex pullback and an opportunity to involve myself in a bearish trade.
As you can see on the chart i drew out a few killzones & Fibonacci levels, if you're interested in seeing how i did those in a chart it would be easier to simply watch this week's video instead of me writing a few extra paragraphs. I'm not being lazy...it's just Football season and the Packers v. Seahawks game is about to kickoff.
Akil
Poor Everton, Glad i wasn't able to watch that trainwreck.
EURGBP could be at the highest point now.Hey guys,
in front of you you see an hourly chart on EURGBP. The daily outlook of this pair brought me to such lower timeframes: we have a daily resistance here that could push price lower and we're moving in an overbought condition on RSI. This gave me reasons to believe it could be a reversal when i saw the retest failed at the first touch of that previous hourly resistance. Now, i know it's risky because we're against the trend, but my strategy tells me i can take this trade and aim for the lows for the first target and well below that level with my second target. Stops would go above recent highs.
If you have questions/ideas, share down below.
Otherwise, see you in the next chart!
Bearish Cypher Pattern On Gold + Trend Line ConfluenceGold is currently moving higher however, looking at the daily chart , we can see that the last down move on gold created a lower low. While that lower low was not significantly lower, it is still a sign of weakness & should be noted. We learned in Section 1 & 2 of my "How to read structure tutorial", when we should begin to look for a trend reversal & the simple method I use to identify that point within the trend. We also learned that we should not take any trend trades if price action does not have a dominant trend direction, plus my methods to avoid trading ranges & much much more.
(Click on the "how to read structure tutorial" chart at the bottom of this idea if you would like to learn more.)
As of right now I am neutral on gold however there are some setups that may provide good trading opportunities in the weeks ahead & It is important to always stay ahead of any market you are planning to trade. Speculating on where price may go in the near future along with important price levels will allow you to plan your potential trades in advanced. Although we do not know 100% where price will go, we can still speculate & create a plan for those potential trades therefore we know exactly what we will do if those setups occur.
The weekly chart below is showing a Symmetrical Triangle Pattern & We also have a bearish Cypher Pattern on the daily chart that is in confluence with the price of the weekly Symmetrical Triangles upper trend line (1276). I feel this is a high probability setup therefore I am planning to enter a short position using the Aggressive Cypher Pattern Entry. I will be taking up a small initial position using the Aggressive Entry & may add to that position using the Conservative entry if gold reaches those levels. I will be managing this position on a lower timeframe & plan to trail my stops if target 1 is reached.
The chart below shows how I will be trading a breakout of the Symmetrical Triangle.
How to read structure tutorial Section 2
4 drives Pattern into SupportNever traded such a Pattern but can easaly think of a potential entry and exit strategy using Fibonacci and Price Action...
Classic trend trade => High Probability & Great RRRBreakout of daily swing high
Pullback into Support
RSI o/b condition + Divergence
Double bottom
H&S for entry and Bat for directionLooking at th daily we see a completed BatPattern. The daily is too big for most traders however so they leave it off the radar.
If you move to a 240M TF you see that price is about to form a H&S Pattern which may serve as entry signal and orientation for Target and Stop Loss orders
Are we in an Elliott wave 3 or just ABCD?Anyways, looks like a long trend following makes sense after the strong breakout of "B"
Proposed target is a projection of "AB" that comes in at daily resistance levels
Confirmed Double BottomHere is the thin with double bottom. Every Lower Low was initiall ya double bottom and every Higher High was a double top. Here, however, the DB is "confirmed" by price closing above the High between the bottoms.
If this DB will mark the new low and we will see higher prices then, entries can be found soon.
Furthermore, you see a potetnial Lorbeer Pattern forming
Advanced Trend AnalysesLooks like DoubleTop in Resitance after ABCD Retracement. This hase everything that a trend follower wants to see for conservative entry.
First we get the new swing low wich indicates more downside potential than upside - check
ABCD Retracement into Resistance (since C retraced deeply into AB, it is natural that D is a smaller Fib extention here 1.27 of AB instead of 1.618 of BC) - check
Double Top right into Resitance. For very conservative entry one can wait for the "V" low between the tops to break and hence confirm the DT
3. Trade! Time to get long on 2nd chance DB in Trend directionAfter the highlighted Breakout, price pulled back and formed a double bottom.
1. My Mirror traders followed me to grab some Profti going long on the double bottom on a hedge trade agains our UERUSD short trade
2. We banked profit and shorted on a Lorbeer Pattern
3. Now its time to hop up the hedge again and chase the new hgig on a second chance double bottom trade
Which coule make this a potential perfedct 3 run trade
Potential Lorbeer PatternYou can alos look at is form a Double Top point of view. After the "V-Point" breaks which confirms the Double Top, price often retraces a certain way before continue down.
Therefore, either you trade the trendcontinuation to the long side or you take profit at the V Point or 50% Fib retracement and then go short for new lows.
Head & SHoulder or Double Bottom. Bets are on: Long or Sort?Time will tell whcih direction to trade for the rest of the week.
WHat do you think?
Pattern within Pattern with Pattern. Plenty Pips Opportunity!As we speek the first ABCD gets triggered.
If price continues another more beneficial LorbeerPattern is waiting.
On profit target yet another Long LorbeerPattern triggers. These are all short to mid term trades. Since I already am short this pair on the long run and hort EURUSD on the long run, I will only trade small size to respect my money management and allocation setting but the LorbeerPattern is impressively powerful so I always get excited seeing one forming!
Double Top in Major Resistance areaEntry idea for a short assumption on the Euro.
240M candle closed below the low swing of the 2 tops. A short entry may be found in minor resistance or around a fibonacci retracement level of this swing low break mouvement.
Tipically I would take some profit at the new swing low but since I am very bearish on the Euro short term I am shooting for a little bigger goal
AUDUSD - BEARISH CRAB PATTERN (SELL)Hey Traders , here we have an opportunity to get short on the aussie dollar , if you take this trade remember only risk a small percentage of your account based on your risk management strategy
Shoulder-Head-Shoulder @ Resistance At the 240M the second shoulder is about to form. Looks like price will form a candlestick pattern on the 240M which is a Double Top on the 60M.
Perfect run:
Shorting the second shoulder for a "neck break"
Going long in support until the rebound to the neck then
Short trend continuation
Rally USDCHF, 2 times +70 Pips chanceSignificant rally into the next resistance (red) provides a short opportunity around 50 to 70 pips
Price may consolidate and then continue rally or continue underlying downtrend. Either way, chances are good to chase the new 240M high that is likely to form in the red zone for another 50 to 70 pips
Power of multiple Strategy System - Free Strategy coming up!No matter where the market is going? With a multiple Strategy System you can create opportunity in almost any market condition.
Here, red short ABCD and orange long Gartley to name only 2 of the upcoming opportunities.
My preferred package is mid-term trend-following + short-term anti-trend + Simple & Advanced Price Pattern. ROI +/- 200 pips p.a. and per FX pair, netted of trade size.
As the interest on my system increases on social media and my personal network, I am working on an online module to teach these basics of my system and show you how to use these principles if you wish to. This is no marketing and the modules are totally free so if you have any interest in following the publications please put your email in the comment.
Flag Pattern on NZDJPYHi guys,
i've already predicted this rally on this pair a while ago. Now i'm assuming price will continue in the upward direction till it will reach a major structure level. However, with such a trending market it's difficult to get a decent retracement in order to hop on the trend. That's why i'm using this kind of simple pattern formation (flags, triangles, wedges) to have my entry here.
As you can see price is now having a brief period of consolidation, but since the previous move was so bullish i'm expecting a similar move again.
With a break and close above trendline you can use two type of entries.
1- Wait for a candle close above and then enter at market
2- Wait for a candle close above and a little pullback in order to get a better risk to reward ratio
Sometimes you can also use a buy stop order.
It all depens on your style of trading.
I'll keep you updated.
If you want to ask questions or make remarks, feel free to comment below.
Otherwise, see you in the next chart!
Using Simple Patterns with Trending MarketsHi guys,
i've already predicted this rally on this pair a while ago. Now i'm assuming price will continue in the upward direction till it will reach a major structure level. However, with such a trending market it's difficult to get a decent retracement in order to hop on the trend. That's why i'm using this kind of simple pattern formation (flags, triangles, wedges) to have my entry here.
As you can see price is now having a brief period of consolidation, but since the previous move was so bullish i'm expecting a similar move again.
With a break and close above trendline you can use two type of entries.
1- Wait for a candle close above TL and then enter at market
2- Wait for a candle close above TL and a little pullback in order to get a better risk to reward ratio
Sometimes you can also use a buy stop order.
It all depens on your style of trading.
I'll keep you updated.
If you want to ask questions or make remarks, feel free to comment below.
Otherwise, see you in the next chart!
