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PENDLE Daily - Bullish CHART PATTERN PENDLE has formed a W-Bottom Chart Pattern in the Daily timeframe, which could signal more upside is coming. We're also observing very distinctive higher lows and higher highs; a key sign of a bullish market. The W-Bottom pattern hasn't quite finished playing out, what we now need to see is a successful retest of support at the "neckline" which is currently at $4. What this means in simpler terms, is that the price cannot CLOSE below this, otherwise the pattern is invalidated. We're also observing a BUY signal in the weekly timeframe; a strong indication that bulls are in control for the near future: If the pattern holds, the price is likely heading towards the previous local high of $4.7 _______________________________ BINANCE:PENDLEUSDT
Long
by CryptoCheck-
SOLUSDT : BULLISH W-Bottom PatternThe daily timeframe for Solana has revealed a key pattern - the W Bottom pattern. If this pattern plays out, a healthy correction of around 16% is likely before another impulse wave(s) up. It's important to note that according to this pattern, for the immediate/short term we will likely go lower to retest the key support zone, which is the W Neckline. But for the near/long term, this is a bullish pattern. The one condition for this pattern, is that the daily candle cannot CLOSE underneath the support zone / neckline of the W . Don't miss yesterday's update on why ALTSEASON 2.0 is upon us: ____________________________ COINBASE:SOLUSD
COINBASE:SOLUSDLong
by CryptoCheck-
1
Bollinger Bands Part II: Reversal PatternsBollinger Bands Part II: Reversal Patterns Analzying Two Key Patterns Called M-Tops and W-Bottoms This post will go into greater depth than the basic introduction to Bollinger Bands published last week. In particular, it will discuss two key reversal patterns. Both the M-top reversal pattern and W-bottom reversal pattern are price patterns that form in conjunction with the Bollinger Bands. M-Top Pattern The classic M-top reversal pattern forms when two consecutive price highs form an M-shaped price pattern with the first high tagging the upper band and the second high exhausting before tagging the upper band. An example is shown on Supplemental Chart A involving a topping pattern in BTCUSD from early 2021. This weekly chart shows the M-top in red. The second high meets the traditional (strict) criteria of a second peak near—but not touching—the upper band. This is soon evident as a price failure. Supplemental Chart A But an M-top reversal pattern may arise even when two actual tags or pierces of the upper band occur, i.e., the second high may tag the band without invalidating the pattern. This is based on the email discussion this author had with the creator of the Bollinger Bands a while back in 2022, recounted at the end of this post. In short, the most important feature of the pattern is price exhaustion and reversal at the second high . In other words, look for failure of the price move at or near band resistance (e.g., a failed breakout). The following technical signals may provide additional confirmation: weakening momentum indicators, including negative divergences in momentum indicators or a lower high on %B indicator which may present as a %B line divergence. W-Bottom Pattern The classic W-bottom reversal pattern forms when two consecutive price lows form a W-shaped price pattern with the first low tagging the lower band and the second low exhausting before tagging the lower band. Supplemental Chart B But note that a W-bottom reversal pattern may arise even when two actual tags or pierces of the lower band occur, i.e., the second low may tag the band without invalidating the pattern. This is based on the email discussion this author had with the creator of the Bollinger Bands a while back in 2022, recounted at the end of this post. In short, the most important feature of the pattern is price exhaustion and reversal at the second low. In other words, look for failure of the price move at band support (e.g., a failed breakdown). The following technical signals may provide additional confirmation: Strengthening momentum indicators, including positive divergences in momentum indicators or a higher low on % B indicator which may present as a %B line divergence. Understanding the Nuances In June 2022, John Bollinger, the creator of the Bollinger Bands, posted a monthly chart of BTC/USD on Twitter. He described the chart as a “picture perfect double (M-type) top in BTCUSD on the monthly chart complete with confirmation” from %B and bandwidth indicators. He noted also that the signal led to a tag of the lower band. Supplemental Chart C is my own attempt to recreate the monthly chart Bollinger had shown to reflect the same two major monthly highs in BTCUSD in early 2021 and then again in late 2021. Please note that Supplemental Chart C shows a different M-top than the one shown on the weekly time frame above on Supplemental Chart A, which only focuses on one of the two peaks analyzed in this monthly chart. Supplemental Chart C This chart that Bollinger originally posted in 2022 showed two actual tags of the upper band. This was not quite technically within the definition of an M-top in much of the technical literature. My previous reading on M-tops and W-bottoms found that all the definitions and examples showed that the second high or low must not touch or tag the relevant band. But this is incorrect to assume that M-tops and W-bottoms are invalid when this technical definition has not been strictly met, i.e., when two (or more) tags of the bands occurred at both price extremes. Responding to Bollinger’s chart of a “perfect M-top pattern,” I messaged John Bollinger, the creator of the bands, directly, hoping for clarification about the strict definition of M-tops and W-bottoms. My question was whether they can be valid while having two actual tags of the bands at both price extremes—two tags at both highs of an M-top and two tags at both lows of a W-bottom. Or were the technical books correct to say that the second peak or low must approach the bands but fail to touch them. In response to my questions, Bollinger clarified that whether a tag occurs at the second peak / high of an M-top is not important as price failure at upper band resistance. This reasoning can be applied in the inverse to W-bottoms as well. In other words, completing the second half of each formation requires a price failure, rather than a band-tag failure, upper band resistance (M-top) or lower band support (W-bottom). So this broadens the scope of what constitutes a valid M-top or W-bottom pattern. But it does not exclude patterns that meet the conventional technical definition. This means that valid M-top and W-bottom patterns include cases where the secondary high / low fails to tag the upper / lower band. Stated differently, failures to tag the bands at a secondary price high / low can also form valid topping and bottoming patterns. Finally, beware of seeking reversals too soon when price is trending strongly, or walking the bands —pullbacks in that specific scenario are not at all "price failures," and it's important to recognize the difference. Conclusion In short, the key is to apply substance over form, to follow the core concept rather than strictly adhering to the technical rules / definitions. Broaden the scope of the technical requirements to include price failures—on the secondary test—at band resistance or support. This will help traders recognize the patterns arising from this technical indicator more effectively. Further, Bollinger himself recommended using other indicators for confirmation, such as RSI or another indicator that isn't overlapping in its operation too much. Lastly, it may be important to realize that the final failure at or near the bands may not be the second peak or low but the fourth, fifth or sixth. Just draw the M at the end where it fits if there has been strength followed by a failure at or near the bands. And remember trading time frame (M-tops and W-bottoms that are valid have much less significance on shorter time frames and much more and lasting significance on longer time frames. And keep risk management on as always. ________________________________________ Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed. Please note further that this technical-analysis viewpoint is short-term in nature. This is not a trade recommendation but a technical-analysis overview and commentary with levels to watch for the near term. This technical-analysis viewpoint could change at a moment's notice should price move beyond a level of invalidation. Further, proper risk-management techniques are vital to trading success. And countertrend or mean-reversion trading, e.g., trading a rally in a bear market, is lower probability and is tricky and challenging even for the most experienced traders. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
AMEX:SPYEducation
by SquishTrade
4
NDX / QQQ: Broader Picture for Nasdaq 100 in Six ChartsPrimary Chart: Potential for Symmetrical Pattern in Two Major Segments of Decline Shown by Roughly Parallel Price Paths in Orange Many recent posts have contained a great deal of written analysis and explanation. This post is intended to be a chart-heavy weekend update on the NDX as reflected by its well-known ETF ( NASDAQ:QQQ ). This post will be far more concise and contain mostly charts and brief descriptions. Supplementary Chart A. The two month downward trendline from the mid-August 2022 peaks has been broken, a shift in shorter-term trend degree. Bears don't need to be told that something has shifted in the short-term. Like other squeezes this year, this one probably hurts. But note the yellow Anchored VWAP from 2018 lows, currently at $282.45—price looks like it will confront this level this week. Price will also confront a longer-term Fibonacci level at $286. These levels could be a spot where price could stall and consolidate a bit, perhaps into the FOMC presser on November 2, 2022. Supplementary Chart B.The weekly chart of the Nasdaq 100 shows the downward trendline very much intact throughout this entire bear market. Note the long-term VWAPs have now begun to slope downward. The long-term VWAPs are anchored to the Covid 2020 low and the December 2018 low. Price will confront the 2018 VWAP again in the coming days. The first test of that VWAP was repelled this past week after FAANG earnings largely missed (except for AAPL). The Covid 2020 VWAP approximately coincides with the down trendline from the all-time high. Supplementary Chart C. The next chart zooms in a bit on the December 2018 VWAP. This VWAP aligns quite well with the .382 retracement of the major decline from August 16 to October 13, 2022. This area of confluence is $282.32, and price may consolidate or whipsaw around this level before continuing in whatever direction it chooses after FOMC, though the rally appears as if it may have a bit more steam. Unless the Fed presser completely squishes the rally (a distinct possibility), a reasonable target is the .50 retracement at $291.60, but only if this .382 level and 2018 VWAP at $282 can be relcaimed. Supplementary Chart D. A derivative of the Bollinger Bands, the %B indicator distinctly shows a W-bottom pattern. As price made lower lows in October 2022, the relative lows were higher than September 2022 lows (relative means in terms of standard deviation from a mean). Supplementary Chart E. Weekly RSI shows a major positive divergence (also known as a bullish divergence). This has not yet been conrfirmed. Sometimes, weekly divergences can take quite a will to take effect—notice that the weekly negative divergences—starting with the RSI peak in late 2019) took about 2 years to result in a major bear market. In other words, even though there were negative divergences on weekly RSI, higher highs continued in the index until late 2021 where the final negative divergence was formed. This means don't front run a weekly RSI negative divergence, but keep it in mind, especially when they begin to add up. Analysis and Discussion. Short-term trends have clearly shifted, but longer-term downtrends remain intact with the bearish structure unaffected by the short-term noise. But as stated in my recent SPY analysis, don't fight the rally. Rallies are an inevitable part of downtrends, which by definition include lower *highs* and lower lows. There are reasons for a multi-week rally, though it won't be in a straight line. Plenty of resistance lies overhead, however. And the longer-term downtrend remains intact on logarithmic and linear charts. Maybe the Nasdaq 100 makes new lows next year in the first half of 2023. One possibility, however, is that the two major segments of this decline are roughly parallel. See the orange price paths on the Primary Chart, the first one of which follows price, and the second one of which follows price and then projects the hypothetical path that would be parallel to the first path. ________________________________________ Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed. Please note further that this technical-analysis viewpoint is short-term in nature. This is not a trade recommendation but a technical-analysis overview and commentary with levels to watch for the near term. This technical-analysis viewpoint could change at a moment's notice should price move beyond a level of invalidation. Further, proper risk-management techniques are vital to trading success. And countertrend or mean-reversion trading, e.g., trading a rally in a bear market, is lower probability and is tricky and challenging even for the most experienced traders. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
NASDAQ:QQQ
by SquishTrade
31
A small analysis of the situation. Be very attentive BTC/USDTHello dear friends My yesterday's trading recommendation brought me and those who trade with me a small minus in the deposit (personally my 1.2%) (It's okay, but it shouldn't have happened.) Today, analyzing the market differently, I went short again from 36130 - and wrote about it in the comments under the previous trading idea. (so far this trading idea is working out, and already, it has returned our small loss a little) I will immediately describe why I opened a short position, and not a long one, and then I will move on to analyze the situation I opened a short position because: We had a return in price to the level I wrote about 36150 (even a little higher by 500 points) - this is a strong level from which I opened a short position, because, First: the narrowing of the ascending triangle after the fall, as well as growth, without correction by 1-2H TF, breaks the price down at 91%. (white lines) Secondly: The price dropped to the lower border - the ascending channel. (blue channel) - which indicated the price breaking down. 3rd reason: As well as the order book - Large sell orders (where there is such an accumulation of orders, the price will be repelled by such losses) 4th reason - a false breakout of the level above which there is strong resistance, (and which, this level served as a support zone) The 5th reason is a bearish engulfing candlestick at 1h TF. and also - "inverted head and shoulders", in the large pattern "inverted head and shoulders" - if it is confirmed. Now about the analysis of the situation. For the given time, if you sort it all out on the shelves. and examine the market situation, then we will analyze each timeframe, starting from 1 hour. Let's start with the fact that we again have an expanding triangle - going beyond the boundaries of which will indicate the direction of the price, at least by 2000-2500 points. Second: we have a zone of strong support - the price values ​​of which - 32450 - 33280 - from pushing up from this level will give the price direction for the continuation of the trend (formation of an inverted head and shoulders) Also - the market maker levels have narrowed - this indicates that an impulse in price will soon occur - from 1 to 3 days By the way, while I am writing this, a hammer + volume candle has formed, but I ask you to be extremely careful and enter a long position only when the price consolidates above the level of 35400. (Only in this case, you can take a long to update 36600 -38600 - 41000 - 42950.) If we disassemble, older TFs, they draw a double bottom, a falling wedge (flag on a bullish trend) If we disassemble, the older TFs, they draw a double bottom, a falling wedge (flag on a bullish trend) Indicators - Bollinger, EMA grid, MACD reach their maximum values ​​for a reversal (at 1-3 day TF) But on weekly and monthly TF we have a Large absorption of the candle, no touches on the MACD lines By KDJ - ready to make a second downward impulse, As well as RSI - started to go down. But we trade here - and now. Look - going beyond the boundaries of the channel, 34450-35350 - will mean that the head and shoulders are forming, the target of which will be the mark - 42900 If the price is returned from this level by 2-4 hours TF, and they trade in a range, with tightening to such boundaries as: 31600-30500 - get ready for the fact that the price on the impulse will break through to such marks as 27000 - 25000 - 22000. And again, while I am writing a trading idea, bearish engulfs on 1h TF, the price will return and lower to the lower border - 31600. For now, I will stick to my plan to reduce the price, as I want to see such a picture - as: The downward impulse by 11 thousand dollars, the price correction to 36000 (this is half of the fall) and the continuation of the impulse - 11 thousand down. But if this does not happen, and the price returns to 40,000, we will have a very very very strong growth, which everyone is dreaming of, because it began with such a range of 16000-17000 and it will be an impulse to 41000 - a correction for 30000 - and continuation of the growth impulse up to 60-80 thousand per bitcoin. We'll see. All good and profitable trades.
by UnknownUnicorn13204076
Tomo/usdt - Promising coinHello dear traders. I want to share with you such a gravel and such a coin, for which I see not a bad profit. Every price rollback, I buy it and keep it for a long time, because this coin has a small capitalization, a good team, a small number of coins, as well as a project that is developing very well without advertising. Therefore, I recommend that you take a closer look at her and buy every spill of the price - since she is ready to make at least 10x in a very short time, especially when they start pouring profits from bitcoin.
T
by UnknownUnicorn13204076
W bottom BTCUSD SHORT We have yet another W bottom; certainly a common theme in the hundred and dozen or so publications I’ve done this far. Frustratingly trying to deal with this glitch that’s slicing my publications and rap as well as followers and all that stuff into two different accounts also preventing me from intraday trading on my pro account ironically so while they get sorted out (Check my chainl link publication for more info - Case anyone wondering why I feel the need to mention this is strictly due to the four or five people that actually read my publicationsCase anyone wondering why I feel the need to mention this is strictly due to the four or five people that actually read my publications so I did not want them to feel like I have been in them so rest easy loyal friends —- did not want them to feel like I have abandoned them, more like a temporary sabbatical while I sort this issue out. In the meantime I would implore you to check my Twitter/Linkdeln for any updates. I take it in this matter will be resolved within the week. W bottom signaling parabolic movement and time frame shows the short position I would take for anyone looking to dump before retracement and as always read horizontal represents the stop loss which is the figure you should always go for— Regardless of how bullish you believe the market is. Trade safely have a wonderful day and DM me if you have any questions or concerns. Happy birthday to my brother/best friend, Adam! Ll Peace & Love -@a1mTarabichi Disclaimer Market is extremely volatile so please keep that in mind do not FOMO or FUD and this is not financial advice. - Note: My main account just like all my other handles I. E. Twitter/ Linkdeln (among others) Is – a1MTARABICHI The glitch/duplicate account is identical just minus the M & 1 so “atarabichi” And so just pay attention to the same one that I’ve always been posting on there and that is the main one (Also the only one with the pro green badge) Hopefully does not cause too much confusion and will be fixed sooner rather than later Have a great evening once again -mT
BEducation
by UnknownUnicorn1445512
VIS, Obvious W bottom Breakout! Short term upside 10%! STRATEGY - PRICE VOLUME ANALYSIS: VIS, a W-double bottom breakout was obviously spotted. Indicating a momentum for the bottom reversal in this counter. Buy on retracement for this counter. It's expected to retrace back to a RM0.400 support area, before it starts another momentum journal to RM RM0.440, which giving the traders a potential 10.10% return of investment in a short term! Let's learn and earn together! Gentle reminder: Plan the trade and trade the plan. Trade at your own risk. Stay tune! Guys, if you like the idea, please "like" it, this will be the best thanks. If you have any questions or trading ideas, please post them in comments! Thank you for your support, we appreciate it.
MYX:VISLong
by ShareWorldConsulting
#bitcoin #xbt - Pattern X or Dump ?Good morning traders, let´s zoom into the Daily for today and have a look at our actual odds & outs here and some possible moves. Fact 1: We have been in this downtrend-channel for an extended period of time, and a turn becomes more likely on every swing. Fact 2: We have a strong support keylevel (blue), if we fall through this, good night. ( OR -> FACT 4) Fact 3: As you know I don´t do forecasts, so I cannot tell you what exactly is going to happen. Fact 4: We have a couple of possibilities on hand for "Pattern X". This can easily turn out as: W-Bottom, Adam & Eve, inverted Head & Shoulders and some more. Fact 5: we don´t know IF and WHICH of these will play out. We need to see Bitcoin´s behaviour AT those levels (reactive trading). Trying to forecast this, can make you bleed. Fact 6: We also have two possible Necklines: 1. Horizontal and 2. the channel middle line, which would be a crucial first good try if broken. (We have talked about this in the last post) As usual I have marked in the chart for you what to watch out for + important levels. Have a nice week guys! Warm regards, Neru
BITMEX:BTCUSD.P
by Gl4diator
3
IWM - Potential Bull Flag PatternThe Russell 2000 ETF has seen a price run-up since early October as it emerged from an oversold condition. The recent pullback has created what may be a bull flag (magenta trendlines) that is close to breaking out. The IWM also seems to be gaining some relative strength vs the SPX which should bode well for this ETF gaining in price. Upon further evaluation of this daily chart, I might also be able to make a case for an Ascending Triangle pattern (orange horizontal trendline + magenta rising trendline) or a "W" bottom pattern (black trendlines). Regardless of which pattern you accept, all of them are bullish in nature. I have labeled two potential price targets I am looking at using the Fibonacci Extension tool again. I used the 50% , 61.8%, & 100% levels for these price targets.
AMEX:IWMLong
by Chartimistic