BITCOIN IS THE KING. TECHNICAL ANALYSIS + TRADE PLAN!Falling Wedge Pattern: This pattern is a bullish reversal pattern typically seen in downtrends. It indicates that while the price is making lower highs and lower lows, the contraction of the wedge suggests weakening bearish momentum and a potential breakout to the upside.
Rectangle Trading Pattern: This is a continuation pattern where the price oscillates between parallel support and resistance levels. A breakout from this range generally indicates the direction of the next significant move.
In the provided chart, it appears Bitcoin is oscillating between a support and resistance line, forming a potential rectangle trading pattern. However, the falling wedge (marked with blue trend lines) is key to understanding a possible breakout scenario.
Indicators Analysis:
VMC Cipher B Divergences (Bottom Panel): This indicator suggests possible bullish divergences, where price makes lower lows but the indicator fails to follow, signaling potential upward momentum.
RSI (14 Close): RSI shows moderate momentum, not yet oversold or overbought, providing room for either direction but with a bias towards a potential bullish push considering the context.
Stochastic Oscillator: Currently in a neutral position but showing signs of turning upward, suggesting a near-term buying opportunity if the indicator crosses bullishly.
HMA+ Histogram: Displays a mixed sentiment, with red bars indicating bearishness, but a possible reversal to green (bullish momentum) could be forming soon.
Key Price Levels:
Support: The critical support level at around $63,800, visible on the chart, could serve as a strong buy zone if Bitcoin retraces.
Resistance: The rectangle’s upper boundary at approximately $72,000 - $75,000 is the key resistance level to break for a confirmed bullish trend continuation.
Potential Breakout:
The price action is currently at the upper limit of the wedge pattern, suggesting that a breakout is imminent. A bullish breakout could lead to a rally, potentially targeting the next psychological resistance around $80,000.
A bearish breakdown from the current wedge could retest lower support levels at $63,800 or even lower toward $60,000 in extreme cases.
Timing and Momentum:
The presence of the clock and plane icons in the chart might suggest an expectation of a sharp move in the near future, likely pointing towards increased volatility.
Time-sensitive action is expected soon, with a bias towards the upside given the current price position within the wedge and rectangle.
Trading Plan:
Entry Strategy
Bullish Scenario:
Buy Zone 1: Enter long on a confirmed breakout above $72,000, targeting $75,000 - $80,000.
Buy Zone 2: Alternatively, buy the dip near $63,800 (key support), if the price retraces, with a tight stop loss below $62,000.
Bearish Scenario:
If the price breaks below $63,800, short positions could be considered with a target near $60,000, assuming no bullish reversal occurs.
Exit Strategy
Take Profit Levels:
For long positions, scale out at $72,000, $75,000, and $80,000.
For short positions, take profits in the $60,000 - $63,000 range.
Risk Management:
Set a stop loss just below key support levels (for long positions), such as $63,000, to limit downside risk.
For short positions, place a stop loss above $72,000, in case of a sudden bullish breakout.
Trade Duration:
Given the contracting wedge and the signals from the indicators, the trade could last from a few days to a couple of weeks, with high volatility expected soon.
Maximize profit opportunities in either direction while minimizing risk. Keep in mind to continuously monitor volume and volatility levels, as they could be decisive for breakout confirmation.
Tading
EURUSD Will Collapse! SELL!
My dear subscribers,
EURUSD looks like it will make a good move, and here are the details:
The market is trading on 1.0732 pivot level.
Bias - Bearish
My Stop Loss - 1.0754
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 1.0700
About Used Indicators:
The average true range (ATR) plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility.
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WISH YOU ALL LUCK
NZDCAD Trading Opportunity! BUY!
My dear followers,
This is my opinion on the NZDCAD next move:
The asset is approaching an important pivot point 0.8349
Bias - Bullish
Safe Stop Loss - 0.8309
Technical Indicators: Supper Trend generates a clear long signal while Pivot Point HL is currently determining the overall Bullish trend of the market.
Goal - 0.8408
About Used Indicators:
For more efficient signals, super-trend is used in combination with other indicators like Pivot Points.
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WISH YOU ALL LUCK
EURNZD Under Pressure! SELL!
My dear subscribers,
My technical analysis for EURNZD is below:
The price is coiling around a solid key level - 1.7552
Bias - Bearish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear sell, giving a perfect indicators' convergence.
Goal - 1.7503
About Used Indicators:
By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses
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WISH YOU ALL LUCK
AUDCAD What Next? BUY!
My dear friends,
Please, find my technical outlook for AUDCAD below:
The instrument tests an important psychological level 0.9068
Bias - Bullish
Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 0.9095
Recommended Stop Loss - 0.9051
About Used Indicators:
Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price.
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WISH YOU ALL LUCK
NZDUSD Will Go Higher! Buy!
Take a look at our analysis for NZDUSD.
Time Frame: 17h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 0.608.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 0.614 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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NQ1! BEARS ARE STRONG HERE|SHORT
Hello,Friends!
We are going short on the NQ1! with the target of 17229.00 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band.However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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EUR/CAD BULLS ARE STRONG HERE|LONG
Hello,Friends!
Previous week’s red candle means that for us the EUR/CAD pair is in the downtrend. And the current movement leg was also down but the support line will be hit soon and lower BB band proximity will signal an oversold condition so we will go for a counter-trend long trade with the target being at 1.488.
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USDCAD ON BULLISH RALLYGood day traders
As we are looking at USDCAD, we can see it on a bullish uptrend on a weekly market, and we go to one hour chat we see it playing around the trend giving us a signal to buy it, going to 4H chat we notice the market giving us a double bottom and also retesting our entry points.
GBP-CAD Risky Long! Buy!
Hello,Traders!
GBP-CAD was trading below a falling resistance
But then the pair has retested a horizontal support
Made a rebound and broke the falling resistance
Which makes me locally bullish
And I think that the price will go higher
Buy!
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See other ideas below too!
DeGRAM | GBPUSD false breakoutThe pound has reached its target, the third wave has been fully formed and the price has reached a strong support level.
I'm waiting for a false breakout, price return for the level and rise to the nearest resistance level 1.363
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DeGRAM | GBPUSD short from levelThe pound made a false breakout of the trending support level and returned beyond the level.
Also within the boundaries of the accumulative flat.
The price is growing towards resistance,
I think that it will not be possible to break through the first time and the price may go back to the support level of 1.386
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DeGRAM | AUDJPY short The currency pair was unable to gain a foothold above the support level and, after a false breakout, returned back below the level.
I think that after the rollback and consolidation is already below the level of 80.9, the price will go down to the support of 79.6
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DeGRAM | Features of the MARKET STRUCTUREPrice action and market structure. Understand. Anticipate. Earn.
As advocates of technical analysis of price, we recognize that price and its traces on a chart are everything. Nothing else is needed.
Only one thing is important for us, we do not need to get away from everything and understand the price action and the structure of the market.
Price is a trace. What buyers and sellers leave behind on the battlefield, we have the right to use this advantage.
Thus, the price is the meeting point for decision-making by all market participants.
It does not matter what traders, speculators use technical analysis , inside information or fundamental analysis .
A careful analysis of price movements reveals areas of imbalance in market forces, which therefore offer interesting opportunities for profit - this is the main reason why we are fond of understanding price action and market structure.
The essence and important points when building a chart of price action and market structure.
The idea behind a chart is primarily to show where price has moved over time.
Supply and demand determine the price of something, and a chart is a graphical representation of historical changes in supply and demand , i.e., historical changes in the overall attitude of buyers and sellers towards the viewed product.
Clean charts:
is a powerful tool that can facilitate this integration and promote the development of intuition.
Focus on where it should be on price candles or bars and the evolving market structure.
Opening price. How important is it?
Annotate your charts with annual, monthly and weekly opening.
Price changes anytime, anywhere, and our charts become volatile because human emotions are influenced by the news.
You should always mark your schedules with annual, monthly, and weekly openings; and if you are an intraday trader, with a daily open.
due to backorders and order flow.
The price moves out of liquidity zones and returns to them.
When the year, month and week come to an end, large speculators seek to cover, change or open new positions.
Thus, there is a lot of "order changes", and at the same time, unfulfilled orders often remain: liquidity remains in the same place.
Thus, "smart money" gradually enters the market and, thus, does not always fully fill its position.
Hence, they have the choice to leave the order unfilled so that the price can raise it when / if the market returns.
This: triggers a reaction at these levels in terms of order flow, partially responsible for price memory.
Price. What is it?
Every player. From retail to institutional money.
But at the same time, who wins in the market: retail or institutions?
If you want to make money in the marketplace, you must stop thinking like a retail trader and start trading like institutions do.
Therefore, a good way to use these levels is to understand them in terms of accumulation / distribution .
The accumulation stage is followed by the expansion stage and the distribution stage.
You need to make sure that you are not a retail money, in other words, the “opposite side of smart money trading”.
Candles. Structure.
Each candlestick tells you a story about the structure of the market.
At this point, the main thing to understand is that candles are a graphical representation of price movement and therefore show the mindset and sentiment of the market, as well as any changes in that thinking and sentiment that may unfold.
This is why price tells you a story: because a candlestick can be broken down into its component parts to determine the direction of movement that it represents for price.
Basic Principles of Psychology Through Price Action
A green real body candlestick is created on the day the market closed higher than where it opened:
In other words, the price moved up during the day.
This means, if we use the basic principles of supply and demand , there were more buyers than sellers. In the market language I will use from now on, the bulls won.
The red real body candle is the result of the day when the market closed below the level at which it opened.
This means that sellers outweighed buyers or there was more supply than demand, causing the price to move lower.
In market conditions, it was a bearish day.
Output
Many people believe that price changes are random and unpredictable.
If this were true, the only logical course of action would be ... not to trade!
A correct reading of price action will enable you to understand and extract market structure from your chart.
Once you get this advantage, you can stay on the right side of the market.
Then you can sit quietly.
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DeGRAM | GOLD false breakout. Growth.After a strong news drop at the end of last week and a false breakout of the large level 1874.5,
the instrument rose slightly in price and closed very well.
Today at the moment the gold is correcting to the support of 1874.5 for the retest.
I expect the instrument to consolidate above the level and further move along the trend until the intersection of the resistance level 1927.85 with the ascending resistance line.
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DeGRAM | EURUSD false breakout, growthAt the end of last week, the instrument consolidated at the lower border of the ascending channel ,
at the strong support of 1.2172, having made a false breakout and presumably headed up.
I expect the movement to continue until the January peak - 1.2347
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GBPUSD | SWING - 22 Oct. 2020Hello my friend | Welcome Back.
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It was a strong rally in the past, however it did not break the channel resistance, so it will head towards the downside corrective to the mentioned target.
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Here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts.
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The information given is not a Financial Advice.
USDCAD | SWING - 21. AUGU. 2020Hello Traders Welcome Back.
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Here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
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GBP/JPY - SWING - 19. AUGU. 2020 🇬🇧🇯🇵Hello Traders Welcome Back.
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Here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
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