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Failed patterns are one of the greatest indicators to trade. This one is still in progress so we will need confirmation of trend resumption before opening our longs.
Chart pattern is awaiting confirmation and there are still many mountains to climb for this to happen.. but it should encourage some upcoming volatility at the least.
Neckline retest. Short if price heads back down without breaking the upside of neckline. Disregard the side charts. Setup is on middle chart only.
Hello traders, I meant to publish this in the morning but I got pulled away on something else. It seems my analysis would have been correct, so I'll share this now. This method is just one of many ways a trader can identify trend direction and entry/exit points at the beginning of each day. To start... I identify all patterns and indicator setups that...
As you can see on a higher time frame, we have had a break and a retest of a minor support line. This is our ideal entry point for our short as outlined in our related idea.
The chart shows two important liquidity zones. The blue zone at the top is what we are concerned with right now. If today's daily candle closes below this zone then we can expect a quick run lower, followed by a retest of the zone's bottom level. If price does not pierce this zone on it's retest, then we can expect a pretty significant downtrend. This possible...
Salutations TradingView Community, This chart is one of many patterns, over many time frames, that are painting a bearish picture for Bitcoin in the near term. I will detail the logic in the chart and share what my personal entry/exit price levels will be. Let's get right to business: We have a classic Descending Triangle at the end of a downtrend... which...
Hello TradingView, This is a simple but meaningful chart analysis. I'll keep it brief and to the point so the key items are listed below. BEAR CASE SCENARIO: We may have broken through support on a bearish pennant. Price would need to break below $25,355 before the pennant would be considered valid. Furthermore, we should not open a trade until price... 1)...
If price breaks previous day high I am going long at 29500. This is a classic Elliott Wave ABC correction setup that has some loose path lines if this plays out. Those are not to be followed blindly. I got this idea from the CMT prep for TA from Wiley. Considering the gravitation back to the 50MA and the volume profile, we may not see a clear double bottom...
Bear Market Truncation Pattern as described in CMT Technical Analysis Prep by Wiley. I'll be opening long at 29,500 if we take out precious days high. Stop Loss is shown on chart as well. Happy Hunting.
What we need: 1) For Price to break above green support line with moderate to high volume 2) Price to then retest green line confirming support zone For those interested, this is a Wyckoff Accumulation, there are plenty of sources to read up on this online. Historically it has been a great tool to predict BTCs movements.
Good Morning everyone, This week I will be sharing a breakdown of a trade I intend to take with Origin (OGN). With OGN we currently have a couple of exciting things happening amongst multiple timeframes. The most recent development on the 1Hr chart is the formation of a Distribution Channel, shown on the chart in yellow. We also have some...
I believe we could be in the middle of a false breakout to the downside with FIL. Breakouts of solid trends are almost always accompanied by a huge volume candle to confirm the demand. This breakout happened on very very weak volume, likely because of FILs correlation to BTC. I forsee a whip back above the triangle, and then a possible retest down to the red...
COINBASE:FILUSD I am still extremely bullish on Filecoin. It has held to Wyckoff Accumulations/Distributions in the past, so we can be fairly certain that it is likely to happen again. We are finishing the spring formation now. This is THE BEST time to get in. "Why", you ask? I'm glad you asked. Because our risk:reward ratio is never better than in a...
FIL has a few bullish patterns, this is just one of them. I also see a Wyckoff accumulation happening that fil is set to explode out of any day now (assuming BTC/ETH can hold tread water in the meantime). These are strong bullish patterns. This is a promising project and one of the few assets that have built out their own chain/protocol rather than relying on...
Bitcoin should retest somewhere near that blue support line at the bottom of the chart one final time. That is our ideal entry point. Set stop loss well below the spring and ride it to 47,000 and beyond.
Conversion line crossed the base line. All signs (except for OBV) are pointing to bullish action. We will have to wait and see! Exciting times. There's going to be alot of money made or alot of money lost in the coming days.
What do you think this means?