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W-patterns

Learning To Plan Your Trade With SPY Cycle PatternsDid you watch my SPY Cycle Pattern video this morning? Were you aware that today was designated a Harami-Inside type of price action? This type of pattern represents a very narrow, often trendless, trading day. I warned all of you before the market opened that today would be a day to sit back and wait for the market to show us whether it wanted to trend or not. Obviously, there were some quick pullbacks and trends—but nothing very big. If you had stayed out of the market most of the day, you probably would have been happy avoiding the chop. Tomorrow is a big CRUSH pattern. These patterns are usually fairly large price range bars that often move against the 3~5 bar trend - in this case, downward. This video covers the next three weeks of trading in the SPY and shows how I read the SPY Cycle Patterns as "sentences" related to how prices will react and move (including trends and ranges) going forward. Of course, nothing is 100% perfect when predicting future price trends. But I think you'll find real value in the SPY Cycle Patterns and how they can help everyone prepare for the type of price action to expect. Plan your trade. Use all the tools required to help you make better decisions. Remember, trade only when the market provides opportunity and efficient price trends. I'll keep updating these videos for all of you over the next few weeks. Let's go make some money as the markets trend into Q2:2024 earnings.
AMEX:SPYLong
by BradMatheny
ETHFI - Confirmed Breakout for a LONG trade$BINANCE:ETFIUSDT (4H CHART) Technical Analysis Update ETHFI is currently trading at $4.1 and showing overall bullish sentiment. Price has broken out from the resistance zone and showing a good bullish momentum. Our first target is around the resistance zone (4.3-4.4) and we can expect the price to reach around 4.8 This is a short term trade and if the price breaks below the support of 3.7 then bearish trend will continue and we will have a short trade opportunity. Entry level: $ 4.09 Stop Loss Level: $ TakeProfit 1: $ 4.224 TakeProfit 2: $ 4.352 TakeProfit 3: $ 4.481 TakeProfit 4: $ 4.684 TakeProfit 5: $ 4.862 Max Leverage: 3x Position Size: 1% of capital Don't forget to keep stop loss. Follow Our TradingView Account for More Technical Analysis Updates, | Like, Share and Comment Your thoughts. Cheers GreenCrypto
Long
by GreenCryptoTrades
Cancellation of “Head-and-Shoulders” Pattern. Bears trapThe "Head-and-Shoulders" (H&S) pattern is considered a powerful trend reversal indicator. However, it can also become very costly for new traders. Yesterday, the S&P provided a great example of H&S cancellation. Traders who entered short on the break-out of the shoulders line (and Monday's low) incurred losses after the price returned to the previous day's range and rallied all the way up. Such scenarios happen more often than you might think. To avoid being caught in such traps, it is important to consider two things: 1. Higher Level Context : In this example, the H&S pattern formed on the hourly time frame. But if we zoom out, we'll see that on the weekly chart, the price is in a strong uptrend, currently making new historical highs. This is a very bullish context, with buyers having full control over the price. 2. Price Behavior on the Break-out : Upon confirmation of a reversal pattern, you should expect sellers to jump in and drive the price down as fast as possible. It is "abnormal" to see the price returning to the previous range and gaining acceptance. This is a trigger that something is not right. Some people will add volume analysis on the break-out, but I’m personally not a fan of it, especially for SPY.
AMEX:SPYEducation
by hermes_trisme
XAU/USD - Q2 Market AnalystBased on current trends and analysis, I forecast that XAU/USD will reach a new all-time high (ATH) this week at the earliest and next week at the latest. Therefore, we should consider taking a Long/Buy Action in the market. Here are the key insights: Reversal: There was a strong rejection at the 2291 area after experiencing a strong rejection at 2393. This is a sign that the market has the potential to move upward. Additionally, this week, on May 10, 2024, the market closed above the support area. Correction: The market will undergo a correction around the 2393 area before continuing its bullish trend, as long as there are no adverse news or situations affecting the market. Please remember, this analysis is a personal interpretation of market trends and should not replace professional financial advice. Always conduct thorough research and consult financial experts before making investment decisions.
OANDA:XAUUSDLong
by rvldpw
Impulsive Wave Rally: AUD/USD Targets 0.70750.Hello traders, Here is my analyis of AUDUSD pair. After AUD/USD completed an upward impulsive wave labeled as wave (1) in the chart, the pair is expected to form a minor correction in wave (2) before continuing the impulsive upward wave (3), consisting of five subwaves. Based on our analysis, waves (1) and (2) have already formed, and it appears we are currently in wave (3). We expect a rally from this zone following the shallow wave (2) correction. The channel break indicates potential reversal areas, suggesting the start of a continued upward phase towards the 0.70750 level as a potential target in the bullish direction. However, a lower low below 0.63623 would invalidate the bullish scenario. Alternative Scenario: The alternative scenario is a further drop in wave (2) towards the 0.64977 price region marked by blue box before the rally to the upside.
Long
by Samuel124
USD Waving The Flag in AU?!Here I have AUD/USD on the 1 Hr Chart! Tonight, we have seen Price make a drastic turn to the Upside back into this Descending Channel it was traveling in last week! With this False Break of the Falling Support, could we see the appearance of a BULL FLAG?!?! Now with a Bull Flag, we expect valid tests of both the Falling Resistance and Falling Support!! So far, we've had 2 tests and a False Break of the Support but we are missing a 3rd test of the Falling Resistance! With Price using this Local Support level, I believe we could see that 3rd test of the Resistance!! Now with NZD Low Inflation Expectation Results tonight, we're seeing some strength being put into AUD!! Fundamentally for the rest of the week: AUD- Wage Price Index (Tue) Employment Change, Unemployment Rate (Wed) USD- PPI, Powell Speaks (Tue) CPI, Retail Sales, Empire State Manufacturing Index (Wed) Unemployment Claims (Thur)
Long
by Novi_Fibonacci
6
Pennant - EUHere I have EUR/USD on the 4 Hr Chart! Price made a good push to the Upside surpassing the Highs earlier this month but then getting caught up by the Highs of April Currently Price is bouncing back and forth between the Falling Resistance and Rising Support. Potential False Break zones for both Resistance and Support are marked by the High and Low Points starting the pattern! Pennants are patterns where the fight between Bears and Bulls is equal and eventually one will win out the other, this will be followed by a STRONG, CONVINCING Break of Pattern and Close to Validate the movement. Fundamentally this week for both EUR and USD will be Flash Manufacturing & Services PMI being released Thursday! As Indicators go: -Above 200 EMA -DSR Assist -Above 50 RSI -Super Nova Layout +3
by Novi_Fibonacci
Euro can reach resistance level and then rebound downHello traders, I want share with you my opinion about Euro. By observing the chart, we can see that the price some days ago rebounded from the seller zone, which coincided with the resistance level and rose to 1.0940 points, after which it started to decline inside the pennant pattern. In this pattern, EUR broke the 1.0850 level and fell to the support line, after which at once rebounded and rose to the resistance line of the pennant. Soon, the price exited from this pattern and entered to seller zone, where the Euro some time traded and soon made a downward impulse. price broke 1.0850 and 1.0650 levels, and also later started to grow inside the wedge. In the wedge, the price soon broke the 1.0650 level, which coincided with the buyer zone and continued to move up. But later it made a correction move to the support line of the wedge, after which rebounded and rose until to the resistance line. When the price reached this line, it made a small correction move, after which at once backed up, and now it trying to exit from the wedge. So, in my opinion, the Euro, after exiting from the wedge can reach a resistance level and then the price will rebound down. For this reason, I set my target at 1.0750 points. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
1
SP500, TAKE THE PAST AND SEE THE FUTURE?So, this is a slightly different look of another chart. Basically, we might be seeing this play out in real time. This pattern is scary where the price currently sits. and to where it can head. What is the pattern? Trace 2018 to Covid and then into recovery and correction. Bring that to the current move, pattern, wave... whatever you want to call it. It's close, not exact, but close, and close enough that it can't be completely thrown out as an idea. But that's all guessing based on a pattern, which is dumb. So, what do we know. We can see numbers projected to 600. We can see numbers projected to 200. We can see multiple gaps on the downside. We can see multiple stocks at their highs. We can see multiple stocks moving some 10% or more on earnings with price movements that don't quite make sense. We know there are two massive support trends (I just made the one) because of how close they are to each other. We've been seeing stocks break down past massive support trends, and then when all hope is lost, a huge return. We know statistically, gaps almost always close, and in a similar way of thinking, most impulse moves retrace a little over 100% (this gives no indication of the timing of a move, could be days, weeks, months, years...) We can see certain indicators starting to flash some bearish signals. We can see there might be another exit pump but we can't really know. We can see, charts are quite overextended from COVID lows. We know the election is around the corner. We know how bad a "down" market or market crash can look for a sitting president. We know more support comes in at 4780, 4360, 3800, 3300, 2900, 2500, 2200. I'm sure if you look hard enough, you'd find evidence that supports both a bullish and bearish projection on the s&p500, which is good. Take in all the info you can. Don't believe my garbage chart, but also, I wouldn't completely skip it.
AMEX:SPYLong
by nicktussing77
Good Opportunity for LONG trade if price pumps backBINANCE:FLOWUSDT (1W CHART) Technical Analysis Update FLOW is currently trading at $0.902 and price is hovering around the support zone. Im looking at the price to pump back up as the price has already hit the support zone. We can expect pull back but that will be a good opportunity for a DCA. You can enter a LONG trade at the current price and do DCA if the price pulls back to the support zone again. Entry level: $ 0.904 Stop Loss Level: $ 0.652 TakeProfit 1: $ 1.011 TakeProfit 2: $ 1.160 TakeProfit 3: $ 1.416 TakeProfit 4: $ 1.772 Max Leverage: 4x Position Size: 1% of capital Don't forget to keep stop loss. Follow Our TradingView Account for More Technical Analysis Updates, | Like, Share and Comment Your thoughts. Cheers GreenCrypto
Long
by GreenCryptoTrades
FET - Breakout from the triangle BINANCE:FETUSDT (1D CHART) Technical Analysis Update FET is currently trading at $2.366 and showing overall bullish sentiment Price has broke out from the resistance line successfully and we are seeing bullish momentum for FET We can expect this bullish momentum to continue and we have good opportunity for a LONG trade here. Entry level: $ 2.15-2.36 Stop Loss Level: $ 1.79 TakeProfit 1: $ 2.66 TakeProfit 2: $ 2.9 TakeProfit 3: $ 3.3 TakeProfit 4: $ 4.5 TakeProfit 5: $ 5.4 Max Leverage: 5x Position Size: 1% of capital Don't forget to keep stop loss. Follow Our TradingView Account for More Technical Analysis Updates, | Like, Share and Comment Your thoughts. Cheers GreenCrypto
Long
by GreenCryptoTrades
BTCUSD to 90KINDEX:BTCUSD Will likely top out @ ~90K Bearish cycle (12345) wedge was broken (A) and tested (B) with (ABC) correction to 0.5 Consolidation (WXY) around 0.618 of the bearish cycle Breaking of the intermediary wedge and 0.5 of the bearish formation on (1) first impulse Bottom of the bullish wedge touched (1) end Testing of the intermediary wedge after breakout (2) Breaking into the bullish wedge (3) Bounce on 0.764 (4) Limit testing upper side of the bullish wedge around 90K (ABC) correction around 0.764 of the whole (12345) likely Limit testing Lower side of the bullish wedge around 55K 0.618 of the (12345) ✌️
INDEX:BTCUSDLong
by MVPMC
1
Bitcoin Dump: 54K next support?54K seems to be the most likely support level on the 4-hour chart for Bitcoin/USD. After that 52K . A drop to 48K seems unlikely . But possible. A reminder that this is the 4-Hour Chart. If you zoom out, you will notice that Bitcoin is not yet in a bear market. Technical Analysis tools used: Volume, Ichimoku Clouds, Fibonnaci Retracement, Volume Delta, Support Lines. The Fibonacci Retracement show the next likely support levels which correlates closely with the (orange) support lines. Price action below the Ichimoku Cloud signals the continuation of a bearish trend. The new Volume Delta Indicator shows a divergence of sell volume domination over market price, which leads me to believe a trend reversal is coming soon. (around 52-54k) up-to-date Fundamental Analysis: Good news to consider: Possible ETF unbanning and adoption in China (unconfirmed) World's largest custodian bank, BNY Mellon reports exposure to BTC ETF Halvening in effect First Bitcoin ETF's launched in Asia (Hong Kong) Bad news to consider: CEO of Binance sentencing (30. April 24) Prominent Bitcoin Figures arrested Government crackdowns in US/UK/EU on centralized elements of the cryptocurrency ecosystem (CEX, Custodial Wallets, etc.). Asian Bitcoin ETF's flopped due to low volumes on opening day. Psychological Considerations: must-reach-100k mentality of the Bitcoin community Community psychological barrier against centralization and regulation 50k support Disclaimer The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations.
BITSTAMP:BTCUSDShort
by GoldArti
2
Confirmation of Bear Flag?? - EUHere I have EUR/USD on the 4Hr Chart! Since the LOW on Apr' 16th, Price has been traveling in what looks to be an Ascending Channel! Price today was unable to make a NEW HIGH to give us another test of the Rising Resistance and instead gave us quite the drop out of the Ascending Channel! With this break, I believe multiple confirmations are pointing to this price action being CONFIRMATION of PATTERN being a BEAR FLAG!! -RSI BELOW 50 -Price working BELOW DSR -Price BELOW 200 EMA -3-Point Sell Check Bear Flags are a strong continuation pattern typically giving investors the ability to foresee Selling Opportunities with Price giving a Strong Bearish Break of pattern, then to Test the Break of Pattern which is what I am currently waiting for!! -Once the current LOW has finished forming, I want to see price retrace to the Break of Pattern being in the ( 1.069 - 1.07 ) range for potential Sell Entries! *TP will be the Support Zone last visited in Oct. 2023 @ ( 1.0516 - 1.0462 ) *SL TBD
Short
by Novi_Fibonacci
Cold "Shoulder" from AUDUSD - Head & Shoulders FormingHere I have AUD/USD on the 1Hr Chart! Price has found quite a Support @ .64848! Not only that, but we have 2 Clear Tops and price is working on a 3rd!! If price is unable to move any HIGHER than this Resistance @ ( .65296 - .65246 ), I suspect price will move back down to the Support or "Neckline" and with that, will have completed a VERY STRONG reversal pattern called HEAD & SHOULDERS!! Adding confluence to this idea is the Divergence forming based on the Highs on the RSI -INVALIDATION of Pattern will be if Price Breaks and Closes ABOVE ( .65296 - .65246 ) -CONFIRMATION of Pattern will come if Price Breaks and Closes BELOW .64848 *If CONFIRMED, will be looking for Selling Opportunities!!
Short
by Novi_Fibonacci
4
Sights Set HIGH for EURJPY?!Here I have EURJPY on the Daily Chart! Currently you can see price back up at the Resistance Area of ( 164.3 - 165.3 ) after having tested the Rising Support 4 times with each time successfully having Strong Bullish reactions ... this Price Action has formed what looks to me to be a Bullish Triangle Pattern! Fundamentally, there's a lot to unpack but with JPY trading down at its 34 Yr Lows and the ECB looking at Rate Cuts soon .. Fundamentals could play a key sticky role! - EUR has their Final CPI and Final Core CPI y/y tomorrow morning followed by Lagarde Speaking so lets see how things begin to play out!! Technically, with this potential Bullish Triangle we are looking for continuation of this markets trend prior to entering this pattern! Back in Dec. '23, price made quite a Bullish Recovery off the 200 EMA and has shown great Bullish Momentum thus far! *If Price gives a solid Break and Close ABOVE the Resistance Area, this could give us a good area of potential Buy Entries -Beware of FALSE BREAKS!! *If Price Breaks and Closes BELOW the Rising Support, I'm no longer interested in looking for Buying Opportunities!
Long
by Novi_Fibonacci
Divergence into a Reversal?? - AUHere I have AUD/USD on the 1Hr Chart! Our two current Lows @ ( .9498 ) on Wed. April 10th and ( .9456 ) on Fri. April 12th show an interesting underlying story when it comes to our indicators! 1) Looking to the RSI and comparing the Lows to Price on the chart, we can see that the RSI is showing a STRONG Divergence meaning Price could potentially be looking to move up now! 2) Our Momentum & Volatility indicators are showing Consolidation or Sideways movement meaning there is really no more trend left to be found. Now this Divergence leads me to believe that if Price works back up to the CONFIRMATION of PATTERN @ .6545, we could see the VALIDATION of this PATTERN and look for trading opportunities! CONFIRMATION of PATTERN @ .6545 INVALIDATION of PATTERN @ .6456
Long
by Novi_Fibonacci
Perfect Market Maker Plan completed before Halvest (be safe) pt2Yesterday, before the huge fall, I posted: "A lot of Bearish Confluences. The crown: Daily Rising Wedge completed after price cleared all the Poor Highs + Resting Liquidity in the Top of the Daily Range. Be safe." Fall confirms my Bearish Plan. Not sure how far BTC will fall but its very probable that the Daily Range is indeed a Distribution scheme. Protect your capital and positions. Be cautious. In this image I share some possible perspectives of what can be expected.
BITSTAMP:BTCUSDShort
by Zuhru