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UNIUSDT trade ideas

UNIUSDT SHARK FORMATIONShark The Shark pattern is a distinct 5-point reversal structure that was discovered by Scott Carney in 2011. It is similar to the Bat Pattern, except for the C point exceeding the BC leg. It can point to a strong counter-trend move. The potential Reversal Zone (PRZ) is defined by the following harmonic levels: the 0.886 retracement of initial leg and the 1.13 reciprocal ratio of the initial leg. Targets can be various retracements of the CD leg, all the way up to C itself. There are different methods of determining where the stop would go. Some put it beyond the next structure level after the D point, others choose the 1.41 extension of XA. Conservative traders look for additional confirmation before entering a trade based on an indicator value, a specific candlestick pointing at a reversal or confluence with other methods. The Shark pattern can be either bullish or bearish. It is as effective as other harmonic patterns and a common variation on trading this pattern is to trade the last leg to completion. TradingView has a smart drawing tool that allows users to visually identify this price pattern on a chart.
Short
by UnknownUnicorn38199698
9
UNIUSDTPRICE ACTION: • In a downtrend, price action finds first resistance (1) that forms left shoulder's low, where it reverse direction and goes upwards till finding support (2), completing the left shoulder formation. • Price action reverses direction from that support (2) and goes downwards till finding second resistance (3) that forms head's low, where it reverses direction and goes upwards till finding support (4), completing the head formation. • Price action reverses direction from the last support (4) and goes downwards till finding third resistance (5) that forms right shoulder's low, where it reverses direction going upwards. • The pattern is completed when price action breaks the neckline at point (6) upwards. TRADING THE PATTERN • Trade entry: the pattern is traded after price action breaks the neckline at point (6), either with an entry after the breakout, or after a -possible- retest to the neckline which turned into resistance. • Take profit: identified by measuring the vertical distance from head (3) to neckline, that measurement is then applied from the breakout point (6). • Stop loss: can either be the neckline breaking rate (6), or the right shoulder's high (5).
Long
by Adam-Robinson
UNISWAP analysis (UNIUSDT) Update 📈📉HEY, what's going on Guys ?! Since May 12, 2021, when I posted the last analysis for UNISWAP, after reaching my entry point and then little rising wasn't able to go up more than previous ATH and it has peen declining up until now . but today as you can see on the weekly timeframe for uniusdt , after retesting the strong support zone ,rebounded and In my opinion is more likely aiming to breakout the descending trendline , so then after a nice pulback it can reach the higher red resistance zone . but if it loses the current support zone so then it can even see lower support levels. ✌️ Good luck with your trading and investing and remember: Trade smart…OR JUST DON’T TRADE! -------------------------------------------------------------------------------------------------------------------- 👉This analysis is my personal opinion ,not a financial advice ,so do your own research. 💜 if you're fan of my analyses please follow me , give a big thumbs 👍 OR drop a comment 🗯
by PRO_SMART_Trader