Get started

Trendreversalpattern

Harmony Secret Retest + Falling Wedge🚀Harmony (ONE) has been quietly making strategic moves in the crypto arena, and one of its recent maneuvers has unveiled an essential yet often unnoticed aspect of chart analysis: the retest of a crucial trendline. Furthermore, the formation of a substantial falling wedge on its weekly chart is sending bullish signals, indicating potential for exciting price action in the near future. 📉🚀 Rediscovering the Trendline Retest Trendline retests are like hidden gems on a crypto chart. Harmony (ONE) showed its mettle by retracing back to a significant trendline, often going unnoticed by the crowd. This retest is a crucial aspect of price action analysis, as it confirms the trend's strength or highlights potential reversals. The Falling Wedge: A Bullish Playground But that's not all; Harmony (ONE) has another ace up its sleeve. The formation of a substantial falling wedge on the weekly chart is a hallmark of a bullish trend reversal. Falling wedges are characterized by a series of lower highs and lower lows that eventually converge. Once the price breaks out from the upper trendline, it typically embarks on an upward journey. Trading Strategy: Navigating the Harmonious Journey For traders and investors, recognizing these patterns is paramount. Harmony (ONE) provides an opportunity to enter or add to positions when the price eventually breaks out from the wedge. However, always integrate this insight into your comprehensive trading strategy, which includes risk management and exit plans. Conclusion: Harmony's Melodious Move Harmony (ONE) is orchestrating a melodious move in the crypto space, blending a stealthy trendline retest with the formation of a powerful falling wedge. This harmonic combination provides a potential setup for bullish price action in the coming weeks. 🚀 Crypto Insights | 💡 Trading Strategies | 💰 Market Analysis ❗See related ideas below❗ Share your thoughts and insights on Harmony's subtle yet promising chart formations.💚🌐💚
Long
by Yaroslav_Krasko
Doordash Bottom Formed, Strengthens idea to go LongHi guys! Welcome to an analysis on macro developments of Doordash (DASH). With the markets doing what they've been doing this year, we have to ask, " Will the % gains come to stocks that are still many many % down from their tops"? Or are some stocks just doomed to fizzle out and take time to re-build/ grow? Well, if we are in a Bull market, which i personally think we are... Assets with Solid Market Structure & Technicals will also be included into the liquidity being injected into the markets. Taking a glance under the hood with DASH, i can see some promising developments playing out. Making me consider DASH as a Long play. This analysis is strictly on Technicals and is on the 1 Week timeframe to get a big picture view. From the Lows of Doordash we ended up forming a Ascending Triangle Pattern. We ended up with a clean break, followed by 3 weeks of testing supporting at the breakout point, the flat trendline. Ascending triangles are usually Continuation patterns. BUT at market bottoms, it can act as a Bottoming pattern. The breakout of the Ascending Triangle allowed us to break resistance at the time, now turned SUPPORT. We hit our measured move of the Ascending Triangle, to the T. We ended up retracing back to the Resistance turned "Support Zone (Green rectangle). We tested support for 2 weeks, followed by the print of a Bullish Engulfing Candle (last week) which confirmed our Support here. The reason to go long here is of 2 folds: 1. The presence of a bottoming pattern, the Ascending triangle in this case. 2. The confirmation of MAJOR SUpport at this "Support Zone". These 2 things enhance our chances of price gains to the "MAJOR RESISTANCE" line. This would be a Major area to take profits. ALong with these, my MOmentum indicators are showing potential for BULLISH momentum to come in. STOCH RSI is crossing Bullish, once it moves ABOVE the 20 level. This will indicate Positive momentum to come into this asset. ALong with MACD, last week printed a Dark Green histogram. This shows strengthening of Bullish momentum. We are also ABOVE the 0 level, as long as we stay above with a BUllish cross, probabilities of further Price Gains are likely. __________________________________________________________________________________ Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. Stay tuned for more updates on DASH in the near future. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
DLong
by SafofAllTrades
📉 Descending Broadening Wedge Identified on $RAYHey traders! Today, I want to discuss an intriguing chart pattern I've identified on $RAY. Let's explore the descending broadening wedge and its implications for potential price action. 📊💡 Pattern: Descending Broadening Wedge 📉🔽 Symbol: FWB:RAY 💰 Overview: A descending broadening wedge is a significant chart pattern characterized by expanding price swings within converging trendlines. This pattern suggests increased volatility and the potential for a reversal. Let's dive into the descending broadening wedge pattern on FWB:RAY and assess its significance. ⚡💹 Key Features of the Descending Broadening Wedge on FWB:RAY : Expanding Price Swings: Observe the widening price swings within the converging trendlines, creating the broadening pattern. This indicates growing volatility and potential market dynamics shift. 📈📉 Reversal Potential: Descending broadening wedges are often seen as reversal patterns, indicating a possible trend change. Monitor price action for confirmation. 🚀📈 Trading Strategy: Entry Point: Consider entering a position once FWB:RAY breaks out above the upper trendline of the descending broadening wedge. This breakout could signal a potential reversal and the start of an upward move. ⬆️💰 Stop-Loss: Implement a stop-loss order below the lower trendline to manage risk and protect against potential downside. ⛔️📉 Target Levels: Identify key resistance levels or previous swing highs as profit targets. Adjust your position size and take profits accordingly. 🎯📈 Risk Management: Maintain proper risk management techniques, including position sizing, setting stop-loss orders, and adhering to your trading plan. Be aware of the risks associated with trading cryptocurrencies like $RAY. ⚠️💼💡 Disclaimer: Trading cryptocurrencies carries risks, and it's essential to conduct thorough analysis and seek professional advice before making any investment decisions. #DescendingBroadeningWedge #RAY #Cryptocurrency #TrendReversal #TradingStrategy #TechnicalAnalysis #Volatility #RiskManagement In conclusion, the descending broadening wedge pattern identified on FWB:RAY suggests a potential reversal in the making. However, wait for a confirmed breakout above the upper trendline before considering any trades. Stay tuned for further updates on $RAY! 💹🚀 (Note: This post is for informational purposes only and should not be considered as financial advice.) 💡💼📚
Long
by STP_MrNodeItAll
2
Will BTC Continue Catastropic Fall to $12k? Bears Ready for War!Bitcoin Bears are growing in number with each Bull failure to stay above the 30k price range, which they recovered on April 2023 after the November 2022 dump to the 15500 price range. This analysis uses Makaveli Trader's Pandora Box on multiple timeframes. The Daily chart MT www.tradingview.com clearly shows a strong bearish candle breaking and successfully closing below the resistance line which in the past during the bull run acted as a strong support line The Higher Timeframe Box on the Weekly Chart below It is worth noting that the major chart controlling this current bear market is the Monthly chart www.tradingview.com the strong ranges on the Monthly chart will make it difficult for the current breakout above range weekly to be sustainable. The current price range of 26k to 30k I stated here that is worth observing as This range holds a strong busy trading range in the past On the 4-hour chart, there's a short-term mini pull-up expected from 28400 to 28550 support back to the 29600 to 29800 resistance range after the current 29k support breakdown. However, the chances of buyers staying long above 30k are decreasing, and selling pressure is increasing as the market ranges below a strong resistance zone. A catastrophic fall could hit soon. The Daily chart shows a strong bearish candle breaking and closing below the support line. This bearish engulfing candle signals a next possible drop to 23800 down to the 22400 range, depending on the strength of the sellers. The Higher Timeframe Box on the Weekly Chart shows that the market has been on a ranged move since June 2022. For the first time in more than 8 months in March 2023, we see the BTC price rally above the range zone to the price of 30k. However, BTC is still clearly in a downtrend on the weekly chart, with no evidence of a clear trend reversal. The strong ranges on the Monthly chart will make it difficult for the current breakout above range on weekly sustainable for bulls to keep pushing up. The current price range of 26k to 30k is worth observing as this range holds a strong busy trading range in the past as it acted as a strong support while BTC was in a primary bull run and is likely to play a major role in resuming the Primary Bear trend. According to the EPIC Short on the Monthly chart, the bear trend resumes in May June 2023, calling for a leg-down move to HKEX:12800 from this current Bull exhaustion price range. However, there will be mini secondary trends (pull-ups) along the way, which takes us to the Daily Chart My Trade road map: SHORT-TERM LONG SETUPS: 📈 FREE MT TRADE SIGNAL 📈 👉 ASSET: CRYPTOCAP:BTC (BTC/USDT) 👉 ACTION: BUY 👉 1st ENTRY PRICE : $28698 3rd ENTRY PRICE : $28762 👉👉3rd ENTRY :$28850 STOP LOSS: HKEX:28398 👉 1st TP:$29800 UPCOMING EPIC SHORT SIGNAL: 📈FREE MT TRADE SIGNAL 📈 👉 ASSET: CRYPTOCAP:BTC (BTC/USDT) 👉 ACTION: SHORT 👉 1st ENTRY PRICE:  $29900 2nd ENTRY PRICE : $29600 3rd ENTRY PRICE : $29400 👉 STOP LOSS: $30590 👉 1st TAKE PROFIT: HKEX:26600 2nd TAKE PROFIT : $22800 3RD TAKE PROFIT : $19K EPIC TAKE PROFIT : HKEX:12400
Short
by MachiavelliTrader
6
Similarities between Trend Reversals and Driving a CarHappy New Year🎆, Traders👋 On this post, I'm going to share the similarities between trend reversals and driving a car. This post would help you if; -You are struggling with trend reversals -You tend to make early entries e.g. you stopped out and the market moves in your favorable way Driving cars For those who drive cars, these are obvious things, but let me just explain what you are gonna do when you turn the corner. Take a look at the left side of the image drawing below. When you make a turn, you; (1) Gradually slow down as you approach a corner (2) Turn the corner at the lowest speed (3) Accelerate as you exit the corner You do them naturally without thinking anything if you have a driver license. Now, let’s take a look at what is gonna happen when trends reverse. Trend reversals Look at the right side of the chart above. This illustrates when a downtrend reverses to an uptrend. (1) Price going down (2) Stop (3) Price going up (1) When a bear market or downtrend is in progress, prices keep going down, making lower highs and lower lows. At the beginning of the downtrend, it usually starts with a sharp slope, but as the prices go down, the speed also gets slow and it becomes a gentle decline. (2) When a downtrend comes to the end, it; -stops making lower lows -creates a equal low (aka W bottom) -make a slightly higher low(this is also another formation of W bottom) -becomes a range These are the signs when downtrends end. (3) After the market makes a stop at the bottom, uptrends starts, usually breaking a range and/or creating a new high. The speed of the trend gradually accelerates as if a car exits from a corner. It looks super simple, easy and obvious in writing, however, in reality, many beginner traders and/or traders who are struggling with trend reversals tend to buy at (1). Why? The reason is simple. They want the bottom. When greed dominates your emotion, these things do not exist in your brains anymore. You know what happens then? They got stopped out and the market moves as you expect. This is like you are approaching a corner without reducing speed and end up with falling off a cliff. Cars cannot immediately stop, neither do trends Just like cars cannot stop(or make a turn) suddenly, trends do not change that easily. You would be able to eliminate unnecessary entries and/or FOMO entries, simply asking these questions to yourself. “Isn’t it too late to buy at least when I see the market makes a stop?”
Education
by FX365_Thailand
EURUSD, 4-Hour, Possible correctionI consider a possible downtrend correnction or even a trend reversal on the Euro-USDollar pair. Price drew a good trend reversal pattern which cointains a false breakout of the trend line and then a new, lower low. But I think it is only a correction, not a reversal. The US Dollar's foundations are stronger than the Euro's. The scenario will be fulfilled if the price goes up slowly (as a sign of weakness) around mid-September and then goes strongly down breaking the last price lows. The signal of confirmation is the divergence of the RSI on the daily interval. The false broken trend line has been since Feb '22.
by MichaelFX_ICT
TREND REVERSAL - SHORT??With the news of a rapid decline in transactions on the crypto platform and the debate by the Federal Reserve on commodity costs and production price mark ups as the United States braces for a recession. We see the XAU market taking a position similar to last summer with the price ranges rallying between 1730 and 1825. Could this be the call sign for the bulls to own the market till the end of autumn or is this just a retest of the support price (1768.50) to soar into the 2000S price range?? TIP: WAIT FOR 1815 PRICE RANGE (SELL)
OANDA:XAUUSD
by Fidelachor
The infamous Trend Reversal Trade The Trend Reversal Trade, can it work? I have been trading the market for 10 years & the statistics in NOT in your favour, this type of trade has a low probability & trading is a game of stacking the probabilities in your favour. this is to be distinguished from investing; which is a whole different game. Back to the infamous Trend Reversal Trade. This is the trade where most average home managed investors loose their money. Lets put this into practice. Imagine following: A good name stock price is over selling or maybe crashing with over balanced selling right into a demand zone. like WEED in this example on a (W) chart. The investor buys a LNG position & thinking he purchased a Good company stock for a good price, isnt that what balance & income sheet based fundamental trading teaches. Now, all one have to do is wait for the trend to reverse price goes up & big profit. expect that a big pay off does not come, hope is mislead by a bounce in price due to the demand zone. before the prevailing trend continues its down fall beyond your ENTR price, the emotions kicks in & you are in the red profit zone.wtf.. I hope you had a stop loss in place. If you are following me those far, those trades are dangerous..learn from my many mistakes..Fuc*king Hope What was my mistake? expecting a DZ to reverse the dominant trend & while this does frequently happen, and it is how market is created. but the futility is in the assumption that you can gauge the top or the bottom before the trend changes. I learned to wait for the trend to change without me then i ride the new trend. much like surfing a wave. ride the wave & trade the trend.
TSX:WEEDLong
by greatful-me
2