Simply a break and retest from the Daily TF, nothing complicated. This is a strategy that has worked quite well for me during this bull run. However, timing is the most important aspect. Looking at the chart currently, we missed the retest, but when looking on the 4H TF there is a Falling Wedge Pattern on its 4th test and about to break. Which is still a...
Quick Scalp. If price can break 0.175 and close above, I'm in the game.
FIL has had quite a run up over the past 2 weeks and has slowed down in momentum. More recently price had formed what seems to be a variation of a descending triangle and a short term downtrend line. Price has broken out of the trendline with a strong bullish impulse and is now retracing - retesting the broken trendline. Triangle patterns are some of the most...
A bit late to post, however there is an opportunity for another entry on the re-test, and close ABOVE 50%. Always trade with a SL.
Cryptocurrency is becoming more and more popular as Bitcoin rises in value and it is attracting new investors from different levels of experience. If you're new to the space then it's likely you will be buying coins after ICO's and wont be privy to private sales along with the DeFi portion of crypto , which is literally a whole other world. Since I've started...
After breaking and then retesting the ascending channel, Bitcoin then formed a symmetrical triangle from which it broke downwards. Once a structure is broken there is usually a retest, just like S/R levels. I can see many different Harmonic Patterns to suggest a retest around the 50-61% level, however there seems to be a descending triangle forming which shows my...
Current Pattern: Symmetrical Triangle, lower highs, higher lows, break upwards and currently retesting and sitting on 38%. This is a bullish sign. Early profit targets are 23% and 0% line, however $MANA is in an uptrend and this can be an opportunity to enter long-term. Reasons not to enter yet: 1. We havent closed above the last LH within the triangle (23%). 2....
Reversal Pattern - 38% Most likely to hit given a bullish engulfing close.
Price has been fluctuating along this channel for the past month with continued momentum. Price is currently finding resistance under -27% after testing the lower TL and 0% Line. Seeing how strong the TL has been in the past we can either expect price to continue to appreciate and break the new ATH or continue to test the lower TL a few more times, after which it...
The last time FLOW's price chart printed a similar pattern we saw what happened. Can it happen again? Price has currently formed a descending triangle within the ascending channel. A break and close outside of the triangle could mean a lot of momentum if we have a repeat of the last triangle pattern. Previous analysis linked.
Reasons not to enter...yet: 1. We've had the break, but not the retest and reversal as yet. It would be wise to wait for more confirmation. 2. Short term downtrend, we havent broken the most recent LH. 3. BTC pull back, its still possible for ALTs to suffer as a collective, regardless of the bullishness this week. As always, trade with a SL. Price is on a...
Nothing complicated...break & retest...following volume along with riding the BTC momentum. Got a good rejection from the broken resistance now support. Would be best to wait on a second bullish candle and then look for entries. As of right now, everything is bullish.
MKR has been slowly but surly climbing up on its trend line and finding resistance at the 38% level. Price has printed an Ascending triangle. MKR has been riding the BTC momentum and withstanding the dips holding its main areas of support. What I expect to happen is, when BTC creates new ATHs, MKR will likely follow with momentum, breaking the key resistance...
As price rises back to previous ATH, this zone will without a doubt act as strong resistance and create an opportunity for a short term short position. Price is currently printing a Bearish Gartley reversal pattern, which is also a W pattern. Normally I use the 38/61% levels at Take Profits depending on how I plot the fib, however, seeing that BTC has picked up...
Ascending channel, support on previous resistance, ATH and also 38% Fib line. Riding BTC momentum, Each Fib level above should be used as a TP to lock in profits.
Been watching FTM for a few days along its trend line and it finally got a high volume boost breaking the resistance at 78%. We currency have a retest of that zone and I expect a bullish reaction to the broken resistance now support. Naturally, each fib level will act as strong resistance. These can be used as references as TP areas on the chart. Reasons not to...
Dot has been a slow mover recently, however price is still on a valid uptrend, and has printed a symmetrical triangle. Looking at all of the variables, this is bullish. Reasons not to enter yet: 1. We havent broken and closed above the upper trendline. 2. Bitcoin may have a small retracement which could have a wider impact on Polkadot. 3. Shorter term downtrend...
Looking at things from a purely technical point of view. -Broken out of the falling wedge -Key area to form the 2nd shoulder -Hamonic Gartley Pattern (big) -Extended W Pattern (small) Check comments for insight on the Harmonic Patterns. Price can easily break through the -0.618 level to create a much bigger W pattern, then start a reversal, but as of right now,...