Get started

W-patterns

Mickey Mouse is UPSIDE-DOWN!Here on the Daily Chart we have The Walt Disney Stock. Price has been outlining what looks to be a possible Inverted Head and Shoulders! The "Neckline" @ 86.28 has been tested twice, once on Sept. 15th after the creation of the first "Shoulder" and again on Oct. 17th after the creation of the "Head". Now since we have the creation of the second "Shoulder" or the Low that did not surpass the Low of the "Head", I suspect price will make a trip back up to test the "Neckline" one more time before possibly giving us a Bullish Break to go higher!! As added confirmation, My DSR is flattening and and the second "Shoulder" was terminated by my Fib'd Kill Zone giving this a high chance of reversing! **Chart Patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS! -Pattern Prediction- *If price Breaks and Closes below 79.23, pattern is INVALIDATED *If price Breaks and Closes above 86.28, price action will initiate my Trade Action Plan!
NYSE:DISLong
by Novi_Fibonacci
2
Pennant - AJHere on the Daily Chart I have AUD/JPY showing signs of a Pennant pattern! Lower Highs into Higher Lows until a "Pinch Point" where price will need to break Bullish or Bearish. Pennants can break either way but the direction of the Market usually has an influence on where price will go after the break. Price has tested the Falling Resistance and Rising Support twice already, so I am waiting to see what the Third test of either Trendline will bring! Price currently is on its way up so I suspect we will get a third test of the Falling Resistance shortly! *Chart patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS!
by Novi_Fibonacci
6
Textbook Consolidation Rectangle -EGHere we have EUR/GBP on the 4Hr Chart in a beautiful textbook example of a Consolidation Rectangle Pattern! Clearly respecting a Resistance @ .87403 and Support @ .86829! Accompanying price on my chart is the 200 EMA with price ABOVE it showing it has been BULLISH with the dirty test prior to the pattern. Along with the Bollinger Bands showing CLEAR signs of sideways trajectory! Fundamentally for today: EUR - Spanish Unemployment Change @ 3am and Unemployment Rate @ 5am GBP - CIPS UK PMI @ 4:30am and MPC Members Pill & Haskei speak @ 7am & 11am As far as directional bias, I will be neutral on this pair until we are given a proper break with added confluence of other factors pointing to solid momentum! *Chart patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS!!
by Novi_Fibonacci
"Beast Mode" to the Rescue?! - TSLASome exciting developments have come to light for Tesla and their CEO Elon Musk! Technically, price has been falling since the beginning of August with its Highs and Lows outlining what looks to be price traveling in a Bull Flag! If we want price to travel higher, we need a solid Break and Close above the Falling Resistance! Fundamentally, Tesla announced its new version of the Cyber Truck with "Beast Mode" with features as impenetrable panels and glass (If opted), 0-60 UNDER 3 seconds, No differential allowing it to be the best bottom clearance vehicle with adjustable ride heights. www.tradingview.com Also Elon announced he is rolling out he's AI tech model, xAI, to select a few and being readily available to X (formely Twitter) Premium Subscribers. www.tradingview.com *Chart Patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS!!
NASDAQ:TSLALong
by Novi_Fibonacci
2
Falling Wedge - AAPLHere we have the Apple Stock on the Daily Chart showing signs of a Falling Wedge! Consisting of Lower Highs and Lower Lows into a Pinch Point where typically we should get a BULLISH break! Technically, if we want to see this stock rise again, we need a good break of the Falling Resistance of the Wedge and with current news events and movements the tech giant is doing, we could be seeing it soon!! Fundamentally, Thursday Earnings showed positive results where Q4 results came in less than great for AAPL where it had shared sales have dropped globally for the fourth consecutive quarter, in China dropping -2.5%. www.tradingview.com Today, news was released that rumors of the iPhone 16 features exceeding that of the iPhone 15's Camera and Zoom and with a huge Tech Investor, Gene Munster calls for a reassessment of the Q4 results saying they are "Exaggerated". www.tradingview.com *Chart Patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS!!
NASDAQ:AAPLLong
by Novi_Fibonacci
2
Resistance above the next challenger for GOLDGold broke out of a recent uptrend to form a correction through positive US data and peace strategies in Gaza. Price now finds itself hovering around 1990 with a level of resistance above in the region of 1991-1993. Price on the 4hour has also pushed lower to push off the 50/55 moving averages, prompting a possible double top on the cards. BULLS PLAN: - Push through this key level of resistance above and kick off a role reversal (change of character) to test highs int he 2010 region - Watch for entries when this level is broken as currently price is too high currently to enter longs ad price moves into resistance. HIGH RISK BEARS PLAN: - Wait for price to reach the resistance level above around 1991-1993 and look for rejection candles - Lower time frame charts (1m/5m/15m) for price action entry (double tops/lower lows) - Targets medium to long term will be 1950 region
OANDA:XAUUSD
by Youza
Descending Triangle, Hidden Pennant GUGBP/USD has been falling since July 14th and now is looking like its trapped within what looks to be a Descending Triangle or Pennant considering the current Low is higher in the Support zone then the Previous. The Descending Triangle made of Lower Highs into the Support Zone should typically give us a Bearish Break where price continues LOWER! -What makes this a special case to me is the possible presence of a Pennant! The Pennant is made up of Lower Highs into Higher Lows, consolidating into a "Pinch Point" where eventually price will break Bullish OR Bearish. -Typically the break will happen in the direction price was heading prior to entering the pattern BUT there is potential for price to play within the Pinch Point until giving a Proper Break!! **Patterns are known to fail 1/3 of the time SO BEWARE OF FALSE BREAKS!!! -Fundamentally, USD & GBP have: Employment Cost & Consumer Confidence (USD) - Tuesday ADP Non-Farm Employment, JOLT Job Openings, Federal Funds Rate & FOMC Statement and Conference (USD) - Wednesday Monetary Policy Statement, Official Bank Rate Votes, Bailey Speaking (GBP) and Unemployment Claims (USD) - Thursday Average Hourly Earnings, Non-Farm Employment Change & Unemployment Rate (USD) -Friday **With the heavy news week, ANYTHING CAN HAPPEN!! My gut is giving me BEARISH vibes with the analysis of this chart and I believe USD could be finding support after its stunning comeback later in the week last week!!
Short
by Novi_Fibonacci
2
Three White SoldiersGreetings, traders! Today, let’s dive into a powerful candlestick pattern: the Three White Soldiers. This pattern, often regarded as a bullish signal, can provide valuable insights. Understanding the Three White Soldiers Pattern: The Three White Soldiers pattern is identified by three consecutive bullish candles, symbolizing a robust influx of buying pressure. When these candles appear in a sequence, it suggests a shift in market sentiment from bearish to bullish. Key Characteristics: Bullish Momentum: The pattern signifies a strong uptrend, indicating a potential continuation of the existing market trend. Candlestick Size: Pay attention to the size of the candles. In this pattern, large-bodied candles with minimal wicks reflect substantial buying activity. This emphasizes the dominance of buyers in the market. Volume Confirmation: Volume indicators on charting platforms can validate the pattern. An uptick in volume during the formation of the Three White Soldiers further strengthens its significance. Trading Strategies with the Three White Soldiers Pattern: Confirmation with Volume: Ensure the pattern is supported by increased trading volume, affirming the authenticity of the bullish move. Combine with Other Indicators: Enhance your trading strategy by integrating the Three White Soldiers pattern with trend lines, Fibonacci retracement levels, or other technical indicators. This synergy can provide a more comprehensive view of the market. Wait for Confirmation: Patience is key. Wait for the bullish candles to close before considering the pattern confirmed. This approach reduces the risk of false signals. Consider Timeframes: Analyze the pattern across multiple timeframes. A Three White Soldiers formation on higher timeframes (such as daily or weekly charts) often indicates stronger bullish potential. Risk Management and Trade Execution: Set Stop-Loss: Establish stop-loss below first candlestick of the Three White Soldiers. Diversify Your Trades: Avoid over-concentration in a single asset. Diversifying your trades across different instruments can mitigate risks associated with individual market volatility. By combining this pattern with meticulous analysis, strategic planning, and risk management, traders can enhance their overall trading prowess. Happy trading, and may the markets be ever in your favour!
Education
by Vestinda
EURCAD ABC BULLISH PATTERN Hello and welcome to an insightful journey into the world of trading chart patterns, where we'll explore how to analyze and leverage patterns like a professional trader. Whether you're new to trading or looking to refine your skills, understanding chart patterns can provide valuable insights into market trends and potential opportunities. The Power of Chart Patterns: Chart patterns are visual representations of market behavior, formed by the collective actions of traders. They offer a way to identify potential trends, reversals, and price targets. By recognizing these patterns, you can gain a competitive edge in the markets. Symmetry ABC Bullish Pattern on EURCAD: Today, we'll focus on a specific example: the Symmetry ABC Bullish Pattern observed on the EURCAD daily chart. This pattern consists of three distinct legs: A, B, and C. Leg A: The initial bullish move. Leg B: The corrective phase, often retracing part of the move from Leg A. Leg C: The continuation of the bullish trend, exceeding the high of Leg A. By identifying these legs, we can project potential price targets using Fibonacci extension levels. In our EURCAD example: 100% Target: At 1.50836 - representing a full extension of Leg A projected from the end of Leg B. 127% Target: At 1.52451 - a more ambitious target indicating strong momentum. 162% Target: At 1.54518 - the most aggressive target, suggesting significant bullish potential.
Long
by TradeChartPatternsLikeThePros
2
How We Use The Forecast Model PatternsThe current position of all patterns (with the exception of the Cumulus Triangles) are not set in stone. The patterns can extend across many different price and time ranges at any given point in time. The current positions are default locations determined by analyzing the historical average position were each pattern occurred across all cycles. We currently have every pattern in this default position to help us gauge where the Bitcoin price most likely will be in the future, and to compare historical price behavior to the current situation. Thanks for watching!
INDEX:BTCUSD
by TheCryptoWeatherChannel
4 Classic Bullish Patterns EVERY TRADER Must Know In the today's post, we will discuss accurate bullish price action patterns that you can apply for trading any financial instrument. 1️⃣Bullish Flag Pattern Such a pattern appears in a bullish trend after a completion of the bullish impulse. The flag represents a falling parallel channel. The market corrects itself within. Bullish breakout of the resistance line of the channel is a strong bullish signal that can be applied for buying the market. Best entries should be placed immediately after a breakout or on a retest. Safest stop loss is below the lows of the flag. Target - the next key resistance. Here is the example of a bullish flag pattern that was formed on Gold on a 1H time frame. As you can see, after the breakout of the resistance of the flag, a strong bullish rally initiated. 2️⃣Ascending Triangle Such a pattern forms in a bullish trend on the top of the bullish impulse. The market starts consolidation, respecting the same highs and setting higher lows simultaneously. The equal highs compose a horizontal resistance that is called the neckline. Its breakout is an important sign of strength of the buyers. Buy the market aggressively after a violation, or set a buy limit order on a retest. Stop loss should lie at least below the last higher low within a triangle. Target - the next strong resistance. Take a look at that ascending triangle formation on EURUSD. Bullish breakout of its neckline was a perfect bullish signal. 3️⃣Falling Wedge That formation is very similar to a bullish flag pattern. The only difference is that the price action within the wedge is contracting so that the trend line of the wedge are getting closer to each other with time. Your signal to buy is a bullish breakout of the resistance of the wedge. Stop loss is strictly below its lows. Target - the next key resistance. GBPUSD formed a falling wedge on a 4H time frame, trading in a strong bullish trend. You can behold how nicely the price bounced after a breakout of its upper boundary. 4️⃣Horizontal Range Similarly to the ascending triangle, the horizontal range forms at the top of a bullish impulse in a bullish trend. The price starts consolidation, then, setting equal highs and equal lows that compose a horizontal channel. Breakout of the resistance of the range is a strong trend-following signal. Buy the market aggressively after a breakout or conservatively on a retest. Stop loss will lie below the lows of the range. Target - the next strong resistance. Dollar Index formed a horizontal range, trading in a strong bullish trend. Breakout of the resistance of the range triggered a bullish rally. The best part about these patterns is that they can be applied on any time frame. Whether you are a scalper, day trader or swing trader, you can rely on these formations and make consistent profits.
FOREXCOM:XAUUSDEducation
by VasilyTrader
10
Bitcoin with a Breakout/ReTest Remains BullishTraders, Two posts ago, I showed this bullish triangle. I expected one more drop down inside the triangle and I stated the price support would range between 28,300 and 28,800. We got our drop and we got our support. I remained bullish. One post ago, I anticipated a breakout to the upside due to patterns remaining bullish. We got our breakout to the upside. But now where are we at? Well, IMO and according to the charts, we are still positioned biased to the upside. Due to the credit rating downgrade in the U.S., markets are pulling back. Our only question is whether they will now turn bearish? Or, will they remain irrational and bullish. My bet is on the latter but we shall soon find out. Bitcoin is pulling back with the markets to test the topside of previous resistance as support. If it holds, we'll continue up. If support fails and we drop below 28,500 ish, I will have to reassess the chart. For now, this classic retest remains yet another bullish signal. Best, Stew
INDEX:BTCUSDLong
by stewdamus
7