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Trendreversal

BTC possible forming of Head & Shoulders [12/01/21]I'm posting this idea so I have a record of my ideas and hopefully start a discussion. This is not to be blindly followed or taken as investment advice... please please please DYOR! Line of Thinking: We are forming a potential Head & Shoulders pattern on the 4hr. We are currently moving down forming the right side of the right shoulder after having a failed IH&S on the 1hr. If we close this 4hr candle anywhere bellow $34121 Stoch will turn down, and ADX is currently strong with DI- positive and DI+ negative, which makes me think we will at least testing the neckline. There is some big hidden divergance on most indicators, including the DMI which I often find does not show as much divergance as the others, which leads me to think this divergance should be given good weight in the trade decision. We used up so much momentum to get down here there's nothing close to it on the charts, but we did not make a lower low, which shows the bears are struggling. The target from this pattern is pretty crazy and sits around $18200. I'm not sure if we will get down that low, but the 21 week EMA is just above that area and I think the old ATH will act as very strong psychological support. If we do make our way to the target, id expect bounces at the levels highlighted (which are also where I would scale out (see TP1)), like we have seen the past 2 days, some of which were around 10%. Volatility is still redlining and will have to come down at some point, which would imply sideways with a slight upwards skew. I've not been able to find a stretch of PA with volatility sustaining this level, so in not sure how to use that. It could mean that due to its mean reverting nature the more it prints red the higher chance we contract and slow down for some time, or it could be a warning as it shows that the market is still going crazy. Maybe its all the new investors who don't have super strong crypto hands pulling funds back out? I've adjusted my risk due to this huge divergence and the volatility. If the R:R was not 1:4.58 and I didn't have a spot position that I do not touch, I probably would not take this trade. Since I do, its basically a hedge on any further downside. Trade Details: Entry - $30769 On retest of neckline after breaking through. If the retest moves back above the neckline, depending on the signals at the time I may add on slightly. SL - $33125 Reasonably big to avoid any stop hunts ruining the fun. TP1 - $26500 / $24000 / $22600 I will scale out of the trade on the way to the target at the levels in-between. TP2 - $20000 I don't think we will go lower then the 2017 ATH and I prefer to take profit before the pattern target.
BYBIT:BTCUSD.PShort
by MrBetonBlocks
13
LTC ready for $250 again!? Welcome fellow Tradingviewers, In this analyses we are going to show you our view on the current market situation for Litecoin. We were going to share a full video on the yearly analyses with you guys but our Mic. Broke down. we will try to educate you guys using a video as soon as we replaced our mic. This analyses is going to be the first in a series of 7 where we try to give you an idea of what it is like to try and analyse a cryptocurrency for 12 months. This analyses is based on the impressions we get from the chart and the cryptocurrency market in general. For this analyses we will be using the 12M, 6M, 3M, 1M and 1W charts. Every month for the next 12 months we will release our monthly market breakdown. If you want to receive daily and weekly technical analyses you might want to check our website . We will be analysing LTC using a top-down strategy, including candlestick patterns, indicators and price patterns. Yearly: We are still inside the first huge Litecoin Yearly candle located in 2017, we did not close the year as a Bullish engulfing (as Ethereum did) but we did close the yearly candle on higher volume and a green candle, indicating upside momentum. 6 - Month: The Six month graph is one of the most promising for Litecoin. In this graph we can clearly see the closure of one of the biggest bullish engulfing 6M candles till now. The previous candle was a indecisive doji candle and this gets engulfed by our last candle closure on higher volume, indicating strong confidence from the bulls side. 3 - Month: The 3 month candle is showing about the same bullish picture for LTC, we closed as a huge bullish engulfing almost closing above the important $150 dollar resistance. Monthly: - The monthly starts giving us a better picture of the medium to long term trend. - We closed the monthly candle above the important $120 resistance. (One of the most important looking at the monthly graph) - We are above the 50 MA monthly indicating confidence in the markets. - The MACD has just crossed bullish indicating upside momentum. Weekly: - We closed as a bullish engulfing candle indicating more upside momentum. - We closed above the important $150 double bottom Neckline and retested it. (at$140) - We are well above all Moving averages. - The MACD is in bullish territory. In summary: Litecoin seems to be broken out of a double bottom pattern with the neckline located at $140. These patterns generate price targets and if we measure the distance from the bottom of the double bottom to the upside, then our price target would be in the $275 range. Our first real target is $220 and then go for our double bottom target of around $250 to $275 based on the 0.618 fib. which can be found in the chart. The coming year will be good for Litecoin, Bullruns can be crazy times where people are starting to feel all kinds of different emotions. try to keep your emotions under control and let the chart be your guidance. Only trade what you see and don't forget to take your profits! This analyses is only intended to share my idea, to educate and entertain you guys. This should not be considered as financial advice. I hope you guys enjoyed this analyses, if you did don't forget to leave a Like ! If you want to share your thoughts, please do so in the comments below! Kind Regards, Frank | Forallcrypto
COINBASE:LTCUSDLong
by ForAllCrypto
1
BELBTC - Trend Reversal Setup - 22% First TargetI'm bullish for reasons 1. Volume is on average 2. Price is at the lowest with LL pattern while RSI prints HL 3. 1H MAs of 9/20 are close 4. HA Doji on 1H First Target Blue .382 Invalid if Price prints LL, but will buy more if RSI prints HH or same level. Disclaimer: I am not qualified to offer investment, legal, or any other advice nor am I trying to do so. All my posts are my own opinion and any decisions, investments, or risks you take as a result of following my posts are your own responsibility. I cannot be held responsible for any decisions you make as a result of following my posts.
Long
by BisayaTrading
Possible short term rebound. Then $190 till Weekly 200 EMA.Updating my previous idea: IMO it's possible to see a short-term rebound till $240 where the confluence of fib. retracement 0.5 (ATH to march '20 low) and fib. retracement 0.618 (ATH to dic '18 low) are. Then, expecting more downside until aprox. $190 were the Weekly 200 EMA is. Just before the february earnings where trend reversal is possible if strong growth continue . My last short Price Target was perfectly touched. Thoughts? Please like, comment and subscribe if it's helpful for you. Stay safe.
NYSE:BABAShort
by HumanBias
Tata Steel - End of Wave 3 - Ready for a quick correction?Tata steel has had a stellar runaway in the past 3 months. Considering the march lows of 240() and recent highs of 640(). I prefer to use 3 hour time frames to understand the broader trend of the stock. It seems that TATA STEEL is preparing for its corrective wave 4 for the time being. Wave 4 at max corrects till 38.2 % fib levels. Considering the September lows of 340 and recent highs of 640, the possible levels comes down to 570 and 520. Wave 4 usually corrects with the price or with time. 520 seems to be an interesting price to accumulate the same for the long term investments. Wave 5 is pending :)
NSE:TATASTEELShort
by akumar1057
M&M - Ready for its corrective wave 2? M&M on weekly time frames is poised to correct. Currently, hidden negative divergences are clearly visible on the chart. Even though, the price has established a new high post-September 2020 however, RSI failed to establish a new high and its the first sign of loss of momentum. Applying the Elliot wave theory From march lows of 250 and recent highs of 760 - we can consider this as wave 1 Wave 2 - Usually corrects up to 61.% fibo levels which comes down to 450. However, 570 & 500 are also crucial levels to watch for any reversal signs.
NSE:M_MShort
by akumar1057
Sunpharma - Preparing for its Elliot wave 3Sun pharma is the biggest contributor in the Indian Pharma Index. So far, it has acted like a tired lion however, it seems the lion is ready to claim the kingship all over again. Sun pharma has broken its 3-year downward trendline. RSI has already passed its complexion point. It completed its corrective wave (2) at 450 levels around September. It is all set to touch 630, 750 & 800 levels. 800 would be a crucial level to watch and any correction from those levels will be another buying opportunity.
NSE:SUNPHARMALong
by akumar1057
HOW TO TRADE THE DOW-JONES(US30) INDUSTRIAL PROFITABLY.IN THIS VIDEO, I EXPLAIN MY METHOD OF TRADING THE US30 AND HOW TO PREVENT BEING VICTIM TO FAKEOUTS TO THE DOWNSIDE, USING FIB-RETRACEMENTS AND THE PARABOLIC SAR INDICATOR. US30 IS NOW AT AN ALL-TIME HIGH, AND AS THE PERFECT INVESTORS STATE "BUY LOW SELL HIGH" , PLEASE LET ME KNOW WHAT YOU THINK OF MY ANALYSIS IN THE COMMENT SECTION AND LEAVE A LIKE. INDICATORS USED FOR TRADING US30 > PARABOLIC SAR FOR CONFIRMATION > MACD FOR TREND REVERSAL > MOMENTUM FOR KNOWLEDGE OF WHEN TO ENTER > RSI TO SPOT REVERSALS > FIB RETRACEMENTS TO PREVENT FALLING FOR "FAKE-OUTS" > STOCHASTIC OSCILLATOR TO SPOT TREND REVERSALS IF YOU ARE NEW TO TRADING THE US30, PLEASE BACKTEST THIS STRATEGY USING A DEMO-ACCOUNT! THANK< AND DROP A FOLLOW FOR FURTHER ANALYSIS.
U
by mohamedhakimu6
1
AUDCAD Sell Setup!Hello everyone, if you like the idea, do not forget to support with a like and follow. on DAILY: AUDCAD is sitting around a strong resistance in green so we will be looking for sell setups on lower timeframes. on H1: AUDCAD is forming a trendline in red, but it is not valid yet, so we will be waiting for a third swing to form around our lower red trendline to consider it valid and sell on its break downward. Trigger: Waiting for a momentum candle close below the gray area to sell. NB: Until the sell is activated, this one would be overall bullish. Good luck!
Short
by TheSignalyst
CADJPY - An Inverted Head and Shoulders Pattern at SupportTrading Confluence Price is at a Support Level Which Comes from 4 Hour Chart. An Inverted Head and Shoulders Pattern indicate the lack of selling pressure Bullish Engulfing and Bullish Pin Bar indicate the buying pressure that builds on CADJPY RIS Divergence Trade Forecasr We will look for a break above the local structure level marked in the chart. If Price will break above and retest local structure level then we will consider going long on CADJPY targeting 78.999 target area marked in the chart. Head Over to Trade Revenue Pro to Learn How to Trade Forex Profitable Way.
Long
by RevenueTrader
4