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BTC-USD: Two chart patterns, which one will play out?Hello everyone; Today 4 June 2020, After a massive drop and one whole day of consolidation we still do not have clear trend direction. Price keep trading sideways awaiting another major breakout. From the Daily chart everything still looks good for bulls as; • BTC still holding above key MAs like 10SMA (red dots) and 21EMA (Yellow line), • RSI although below the EMA it is trading near 50 zone i.e. Neutral territory, • BTC also trading above the BB mid-line i.e. Slightly bullish to neutral. Chart patterns: From the daily chart I can see 2 nice chart patterns on BTC, 1) Rising wedge: For this pattern to confirm we need to see one more touch to the upper and lower trend lines, I am still expecting BTC to put in a HL in the gray support box (this comes from the consolidation zone from 22 May - 23 May). Once we see that HL in place the yellow arrow line is the most likely route for PA, imo. 2) Symmetrical triangle: For this pattern we do have confirmation and BTC is very close to 75% fill zone for its breakout. In this pattern the pump and dump we saw couple days back is a classic ‘Fakeout’ for me. Once again, the same gray box becomes an interesting spot for the price however in this scenario, I think BTC will not see a major bounce and break down. The yellow arrow indicates the PA route it could follow. I am keeping eye on all of these things for now and I do not have any major trades open. I need to see some confirmation in the trend direction first Happy and safe trading… Chao…
BITMEX:BTCUSD.P
by ammypatt1987
RIPPLE (XRP/USD) Ready To Make a Breakout From Chart Patterns?The Weekly chart Like almost the whole market, Ripple' had also a low volume week. The price range was between $0.44 to $0.485. Technical it is in the good area if we want to see higher prices but as always all depends on the Bitcoin' and on the market. Currently, the price trades between April and March low. The daily chart If we look at the daily chart then there are several bullish signs. Some chart patterns and some pretty good price levels which work strongly as a resistances and supports. Let's start with the chart patterns: There is a Triangle and there is a continuation pattern called "Bull Flag". The triangle is the easiest pattern to trade - if You see a breakout to either direction then this could be the next possible way where the price is heading. Breakout would be confirmed if You see at least a four-hour candle above or below the triangle, full confirmation comes from the daily candle close. Currently, we are on the triangle tip and if You have invested in the Ripple then You have to be alert because we could see the high volume. Obviously, it depends on how the market reacts but we give to You confirmations to either direction. Now the continuation pattern - "Bull Flag". Currently, the short-term trend is up and it confirms that the bullish momentum may come after the breakout upwards from the mentioned pattern. The massive confirmation would be a candle close above the Bull Flag upper resistance line and above the triangle trendline, then we have two bullish confirmations and we could be ready to climb to the higher levels. Let's count weekly forecast bullish scenario: 1. We have to break above the bull flag, the price has been in this flag now more than 14 days and a breakout could trigger the volume! 2. At least daily or the four-hour candle has to close above the triangle and above the March low level at $0.47 After those confirmations comes the round number resistance $0.5 and the 200 EMA crossing area. We could assume that after those low volume weeks this resistance is easy to break if we see a volume inside the shorter time frame candles and a break above the $0.5 will guide us easily around the $0.6. Bearish scenario: 1. A candle close below the Bull Flag 2. A candle close below the Triangle 3. A candle close below the April low at $0.454 This scenario could be pretty ugly because we could go and print the new short-term lower low below $0.4. Summary, a daily candle close, with the high volume inside of it, below the April low level will confirm bearishness and our recommendation is to stay away from the Ripple' if this happens. If You want to read our Bitcoin' analysis (visit VaidoVeek profile in TradingView) or If You are interested in the latest cryptocurrency news, coin reviews and breaking stories from the world of blockchain then visit our website! (The LINK is on the profile) Hopefully, this analysis helped You out a little bit to confirm your own analysis and if You appreciate what we do here then hit the LIKE button! Best regards!
BITFINEX:XRPUSD
by UToday
1
Earnings Vs Chart Patterns: Stillwater Mining-SWCUpdate. Six days ago I wrote about the strong technical patterns in-SWC. Today I alert those interested that-SWC earnings are scheduled to be released 07-29-16. The question to be answered: Do the strong chart patterns forecast an acceptable earnings release? On the last earnings release 05-06-16-SWC lost $.08 per share and the stock sold off. What does this mean to you? The chart pattern shows strong accumulation - So, after the earnings release, does the uptrend continue? The technicals suggest yes, but the risk is disappointment in what the company discloses in the release. The buying/ accumulation in-SWC is building. I believe it will have an upside breakout. Let's review Don's TRADE-MAP approach: TRADE = 1. T : Time and space (Fractals); 2. R : Repeating Cycles; 3. A : Advancing Trend; 4. D : Declining Trend; 5. E : Energy in Phase Forces. .....MAP = 6. M : Momentum and Velocity; 7. A : Analysis of Structure; 8. P : Price Performance. When I mention "Don's Top Ten Technicals", I use the elements of the "TRADE-MAP" approach: 1. The Ichimoku Cloud is beginning to rise as well as the 89 day moving average . 2. Prices have risen above the cloud. 3. Prices are trading above the thick red Ichimoku Cloud Conversion line. 4. The thick red conversion line is also rising. 5. The thick black line is the Ki jun-Sen baseline of the Ichimoku Cloud , which is rising and above the cloud. 6. The indicator on the top of the page is RSI / Stochastic , and this is approaching oversold. 7. The top middle indicator is vortex and it is EXCEPTIONALLY strong (green over red). 8. The Top (bar-type) indicator measures the "phase energy" of the stock , and this is STRONG. 9. The green fractal arrows are up (not shown). 10. Look to the far right on the chart, at about $12.50. You will note a yellowish line on top (lips), with black dots below (teeth), and a blue line (jaw) below the black dots. Now, all three are rising, correct? This is where I ask you to use your imagination and envision these three items as the "separated jaws of a feeding alligator". This is a positive indication because the alligator is FEEDING in the uptrend. My opinion: upside breakout building. Stay long. I will close with a quote from Alfred E. Neuman: "You can be on the right track and still get hit by a train!". As always, good luck to you. Don.
SLong
by 649bruno
Classic Chart Patterns: Cup & Handle & Descending TriangleHello my fellow Cryptocurrency trader, I am wishing you wonderful Sunday and a lovely week ahead. Today I would like to call your attention to two classic chart patterns, these can be useful for charting purposes and some are highly accurate, like these: 1) The Cup & Handle is a bullish pattern and tends to lead to higher prices. 2) A Descending Triangle is a bearish pattern and tends to lead to lower prices. As with any other signals, patterns should be consider in conjunction with the rest of the market, it needs to be looked at together with other signals in order to increase their accuracy. Consider any signal in isolation can lead to mistakes. It is always a nice rule to look for 3-5 signals before reaching a conclusion. You can have your main signal and then look for additional signals that support the main one. Thanks a lot for reading. Namaste.
by AlanSantana
8
BTCUSD 1D IS IN TWO CONFLICTING CHART PATTERNS1 minute ago Price is in two conflicting chart patterns Bullish flag is a bullish continuation range pattern Descending Triangle is a bearish pattern We are able to let the market decide this conflict and trade on a daily close in the markets direction. Ranges, Descending Triangles, Triangles, & Ascending Triangle are repeatable trading chart patterns. Triangles and ranges are consolidation chart patterns that can breakout either direction. Ascending and descending chart patterns will have a directional bias depending on the previous incoming trend. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart ). Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place. Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement. When you see descending volume bars and descending atr line (which indicates volatility ) this shows a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern. Trade Management after there is a breakout candle close. 1 - Position size (compare volume bar to volume ma line). a - Breakout candle must be 100% of average volume for a full position size. b - If 75% of average volume then ½ position size. 2 - Enter two trades. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP will be 1 x ATR. 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price. 6 - When 1st TP hit – move 2nd trade SL to breakeven. 7 - Adjust the 2nd trade SL to follow price. *8 - When breakout candle is more than 1 ATR from breakout candle open. a - Enter 1st trade at candle close with ½ position size. b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open. c – Price should pullback to that pending limit order for 2nd trade. d – If Price returns back into chart pattern close trade before SL is hit.
COINBASE:BTCUSD
by Tradingstrategyguides
eBay is the paradise of Chart Patterns🟢 eBay is the paradise of Chart Patterns NASDAQ:EBAY is one of the best stocks if you regularly trade using chart patterns. In the chart, you can see up to five different market patterns in just one year. This makes trading eBay quite predictable in terms of risk/return. We are currently seeing the formation of a rising wedge, which can be very profitable for traders. ✅ What pattern is unfolding in eBay? A rising wedge appeared under the previous high, which is very interesting for two reasons. If the rising wedge breaks upwards, we could see the breakout of significant highs, giving the market a lot of momentum, similar to the rising wedge in August this year, which yielded up to 20% in profits. On the other hand, being so close to the highs makes it plausible that the rising wedge could break in its usual direction, downwards, bringing the price near the previous lows and returning about 7% in a few days. 💰 How to trade this chart pattern? A rising wedge pattern can break in either direction, so it's crucial to wait and see which way the price decides to go. This type of pattern makes it much easier to follow a market trend. 🛡️ The risk management strategy As we have done in so many previous ideas, remember you can split the position in 2. Let's explain a Sell if the patterns breaks down: - 50% of the position in a take profits, at least, as large as your stop loss (adapt SL and this 1st TP to local supports/resistance levels). In this case, a 2% TP for 2% SL (using local supports as 1sst TP) - 50% of the position to a price as large as the previous pattern, which would mean a profit of 7%. ✴️ ENJOY AND FOLLOW for more 😊
NASDAQ:EBAY
by TopChartPatterns
Earnings Vs Chart Patterns: Monmouth Reality-MNRUpdate. Eleven days ago I wrote about the strong technical patterns in-MNR. Today I alert those interested that-MNR earnings are scheduled to be released 08-03-16. The question to be answered: Do the strong chart patterns forecast an acceptable earnings release? The forward P/E is 19.94, the trailing twelve months P/E is 21.32. What does this mean to you? There had better be growth, or the prospects of growth. So, after the earnings release, does the uptrend continue? The technicals suggest yes, but the risk is disappointment in what the company discloses in the release. To quote Warren Buffet : “Someone's sitting in the shade today because someone planted a tree a long time ago.” My opinion: remain long. Don.
NYSE:MNRLong
by 649bruno
Earnings Vs Chart Patterns: Agree Reality-ADCUpdate. Seven days ago I wrote about the strong technical patterns in-ADC. Today I alert those interested that-ADC earnings are scheduled to be released 07-25-16. The question to be answered: Do the strong chart patterns forecast an acceptable earnings release? The technicals suggest yes, but the risk is disappointment in what the company discloses in the release. To quote Ed Hart: "We will all know in the fullness of time". My opinion: remain long. Don.
NYSE:ADCLong
by 649bruno
"This Price Action Reminds Me Of 3 Chart Patterns.."Yesterday i was trying to talk to some youthful people as they did not understand the value of value. It really angers me when people don't understand me and this type of emotion can be very selfish but I always have to remind myself that I am a leader and as a leader its my duty to be the best version of myself and control my emotions. The market is on fire again These past few days the market was silent right now we are looking at the price of oil because this NYSE:CVX is an oil company Yesterday we looked at the gold price and I explained to you the rocket booster strategy To learn more and reread yesterday article check out the resources below This chart pattern is a little bit confusing it reminds me of 3 chart patterns (1) Gravestone doji (2) The long Upper shadow (3) The hammer Which of these 3 do you think it is? There is a lot of conflict during this end of the year maybe this could be the reason For the energy sector to be on fire. Rocket boost this content to learn more Disclaimer: Trading is risky please learn risk management and profit-taking strategies because you will lose money whether you like it or not and feel free to use a trading simulation tool before you trade with real money.
NYSE:CVXLong
by lubosi
1
DOUBLE CHART PATTERNS CONFIRM EURJPY 1D BREAKOUT TRADESTriangles, Ascending Triangle, Descending Triangles and Ranges are repeatable trading chart patterns. Triangles and ranges are consolidation chart patterns that can breakout either direction. Ascending and descending chart patterns will have a directional bias depending on the previous incoming trend. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart) Trade Management after there is a breakout candle close 1 - Position size (compare volume bar to volume ma line) a - Breakout candle must be 100% of average volume for a full position size b - If 75% of average volume then ½ position size 2 - Enter two trades 3 - SL for both trades will be 1.5 x ATR 4 - 1st trade TP will be 1 x ATR 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price 6 - When 1st TP hit – move 2nd trade SL to breakeven 7 - Adjust the 2nd trade SL to follow price *8 - When breakout candle is more than 1 ATR from breakout candle open a - Enter 1st trade at candle close with ½ position size b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open c – Price should pullback to that pending limit order for 2nd trade
by Tradingstrategyguides
Bitcoin Litecoin Ethereum to dump this weekend? I am not suggesting it will happen, but I am seeing some of the leading cryptos (Bitcoin, Litecoin, and Ethereum) poised to dump this weekend. In addition to all remaining in bearish chart patterns: -Ethereum has fallen below .618 fib retracement and the $275-$280 support level. -Bitcoin has dropped below it's longer term bullish channel yesterday evening -Litecoin has dropped below it's 6 month bullish channel yesterday evening They all seem to want to move down and touch our 200 MA. And while Ethereum and Bitcoin have some big supports to work through until they get there, Litecoin has easier work of it and very well could get there in the next days/weeks. Whether they dump or not this weekend, I think the downward trend has definitely been validated on my charts and until we escape these bearish wedges/channels, I, for one, will not be looking to reposition just yet. Greater discounts are on their way!
BITSTAMP:BTCUSD
by stewdamus
3
Bitcoin Litecoin Ethereum to dump this weekend? I am not suggesting it will happen, but I am seeing some of the leading cryptos (Bitcoin, Litecoin, and Ethereum) poised to dump this weekend. In addition to all remaining in bearish chart patterns: -Ethereum has fallen below .618 fib retracement and the $275-$280 support level. -Bitcoin has dropped below it's longer term bullish channel yesterday evening -Litecoin has dropped below it's 6 month bullish channel yesterday evening They all seem to want to move down and touch our 200 MA. And while Ethereum and Bitcoin have some big supports to work through until they get there, Litecoin has easier work of it and very well could get there in the next days/weeks. Whether they dump or not this weekend, I think the downward trend has definitely been validated on my charts and until we escape these bearish wedges/channels, I, for one, will not be looking to reposition just yet. Greater discounts are on their way!
COINBASE:ETHUSD
by stewdamus
Bitcoin Litecoin Ethereum to dump this weekend? I am not suggesting it will happen, but I am seeing some of the leading cryptos (Bitcoin, Litecoin, and Ethereum) poised to dump this weekend. In addition to all remaining in bearish chart patterns: -Ethereum has fallen below .618 fib retracement and the $275-$280 support level. -Bitcoin has dropped below it's longer term bullish channel yesterday evening -Litecoin has dropped below it's 6 month bullish channel yesterday evening They all seem to want to move down and touch our 200 MA. And while Ethereum and Bitcoin have some big supports to work through until they get there, Litecoin has easier work of it and very well could get there in the next days/weeks. Whether they dump or not this weekend, I think the downward trend has definitely been validated on my charts and until we escape these bearish wedges/channels, I, for one, will not be looking to reposition just yet. Greater discounts are on their way!
COINBASE:LTCUSD
by stewdamus
4
Double Bottoms and Double Tops Chart PatternsHey Folks! Here is an example of a Double Bottoms and Double Tops Chart Patterns. This is often observed in Technical Analysis, and referred to as reversal chart patterns. A Double Bottom happens after a downward trend and it creates two support points (1 & 2). After which, there will be an upward trend that goes beyond the resistance neckline. Whilst a Double Tops happens after an upward trend and it creates two resistant points (1 & 2). Then it will be followed by a downward trend that may break thru the neckline of the support level. Disclaimer: This analysis is for informational purposes only and is not a recommendation to buy or sell anything.
KRAKEN:BTCUSD
by Satoshimaiku
Basic of chart PatternsI see this a lot with the community posting chart patterns, lacking basic understanding of chart patterns. The wedge pattern in May of 2021 - July 2021 and the Wedge continuation Jan 2022 - Now These two have different outcomes and probabilities. Beware of trend confusion and lack of basic. Comment: **disclaimer- anything mentioned in this forum is for information & educational purposes only and does not constitute investment advice. please talk to your investment advisor and do additional research and due diligence on your own before investing and making important investment decisions.- disclaimer**
COINBASE:BTCUSD
by TruePrimeOne
1
GBPUSD Technical Analysis: Daily Timeframe Chart Patterns.Conclusion for today’s GBPUSD technical analysis: A break above ~1.2720 implies an increase in bullish strength. GBPUSD analysis for today is presented on its Daily timeframe with a closer look at chart patterns present, and their possible implication(s) for future price action. A descending triangle chart pattern is used to best describe the meandering price action of the GBPUSD from June 15, 2015 to current date. The most recent test of the base of the triangle occurred on September 02, 2019 at ~1.2140. The descending triangle is ideally bearish and suggests price eventually exiting the pattern via its base and moving lower. The bearish implication of a descending triangle is not 100% foolproof and therefore definitely possible to get an upward exit (i.e. non-confirmation) from the triangle. Also plotted on the chart for cable (GBPUSD) is a falling wedge chart that is used to capture price after a peak of 1.4377 was achieved on April 17, 2018. The pattern is ideally bullish and suggests an upward exit for the GPBUSD upon completion (confirmation) of the chart pattern. The 50 and 200 daily moving averages also help provide additional perspective with price currently trapped in the middle of moving averages. Price trading currently above the 50 moving average argues for a bullish bias and movement over above the upper boundary of the wedge would provide more evidence for bullish strength. Such a move would involve the 200 moving average giving way to higher prices. Minimum price target based on this GBPUSD analysis is the upper boundary of the descending triangle at ~1.3471.
by Coin_Analyst