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5-0-pattern

NZDJPY - Combo TradeWe could be a bit early for this 5-0 Pattern trading setup. That is because the daily chart has not confirmed; the candlestick pattern confirmation is required. I pull the trading confirmation of the 1-hourly chart. This is a trading management I've been using and refining for the past 5years. There are 2 kinds of trading management for the such combo. ComboTrade - Valid trading setup off the higher timeframe, but we engaged the trade on the smaller timeframe UpsizeTrade - Valid trading setup on the smaller timeframe and final target stretch to complete the higher timeframe. Both are high-risk trade management, which means the chances of stop-loss being hit are higher, but the profit factor(reward) is amazing. Of the two selections, upsize trade has the higher risk.
Short
by RaynLim
🔠 The ABCD PatternThe ABCD is a basic harmonic pattern. All other patterns derive from it. The pattern consists of 3 price swings. The lines AB and CD are called “legs”, while the line BC is referred to as a correction or a retracement. AB and CD tend to have approximately the same size. A bullish ABCD pattern follows a downtrend and means that a reversal to the upside is likely. A bearish ABCD pattern is formed after an uptrend and signals a potential bearish reversal at a certain level. The rules for trading bullish and bearish ABCD patterns are the same, you will just need to take into account the direction of the pattern you trade and the movement of the market it predicts. 🔷Classic ABCD The point C should be at 61.8%-78.6% of AB. The point D, in its turn, should be at the 127.2%-161.8% Fibonacci expansion of BC. Notice that a 61.8% retracement at the point C tends to result in the 161.8% projection of BC, while a 78.6% retracement at the C point will lead to the 127% projection. 🔷AB = CD Here CD has exactly the same length as AB. In addition, it takes the market the equal time to travel from A to B as from C to D. As a Result, AB and CD have the same angle. This type of ABCD pattern is seen quite often and is popular among traders. 🔷ABCD Extension ABCD extension refers to when CD is the 127.2%-161.8% extension of AB. CD can be even 2 times (or more) bigger than AB. There actually are some signs that can hint that CD will be much longer than AB. They are a gap after point C or big candlesticks near point C. 📊Trading with ABCD pattern The key thing you should remember is that you can enter the trade only after the price reached the point D. Study the chart looking at the price’s highs and lows. It may be helpful to use ZigZag indicator (Insert – Indicators – Custom – ZigZag) that marks the chart’s swings. Watch the price as it forms AB and BC. In a bullish ABCD, C must be lower than A and should be the intermediate high after the low at B. Point D must be a new low below B. When the market arrives at a point, where D may be situated, don’t rush into a trade. Use some techniques to make sure that the price reversed up (or down if it’s a bearish ABCD). The best scenario is a reversal candlestick pattern. A buy order may be set at or above the high of the candle at point D. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
2
Large potential head and shoulders 30k soon????If price does reject from this resistance (Hopefully it doesn't) and come back into the macro value area price could hit the golden pocket retracement of that move up which has a lot of confluence such as an old and very respected weekly s/r a naked daily point of control and a daily s/r. If price can bounce from that area with market cipher printing a trigger wave on higher time frames and lower-mid timeframes showing clear divergences on momentum and money flow price could probably make its way up to make a new high creating a huge head and shoulders with a target of 30k which just so happens to be the target for some other analysis I was doing. While trading make sure you manage risk properly But most importantly have fun.
Long
by scottmcscran
$GBPCHF$GBPCHF - A break to either direction! We had a pull back finally in the market, AUDCHF came down and various other markets such as ES, GBP etc. Now I'm going through minor FX pairs this is a break either direction. We are within channel, added alerts in to either direction of break. If we were to go above and carry on within channel expect 200 EMA target areas. If we were to go below and beak down - 1.11600 / 1.11400 areas is a good target area. Don't forget to trade your own plan! Trade Journal
by Trade_Journal
1
BTCUSDT is testing the KEY level!Bitcoin hit 20k as I told you in my previous analysis after a clear breakout and retest of Ascending channel. Now the price is testing the key level, where this dump began, and where the market printed the previous HL on the daily timeframe. On the Daily we can spot a clear W pattern, usually, the market wants to retest its neckline. In that case, the neckline is on 0.618 Fibonacci level on the daily timeframe, About the 4h timeframe, we can see a false breakout above the local HH and on the 4h supply. What's next? If the price is going to lose the 4h support on 20k and retest it as new resistance, we could see a retracement until the 0.618 Fibonacci level. Otherwise, If the market is going to close with a volume above 21600, we could see a new bullish scenario. Bank Holiday in the USA (Martin Luther King Jr. Day)
by InkyGrip
6
$NZD - Interesting area!$NZD - Interesting area! I always go towards higher time frames, as Higher TF = Shorter TF movement it's really is as simple as that. As you can see, this is the weekly now we are within the ranges: Lows: 0.62 /.61 Areas Highs: 0.65 Areas For now you execute the range trade playing between those high and lows until a break. A break to either direction, would take you to either to trendline resistance and 200 EMA areas. A break below low of the ranges, you go towards great Fib area of support 0.60000 areas Overall, the market is looking over extended even with DXY but picking bottoms isn't wise decision to ever make! Key Tip: Follow your own trade plan. Have a great week ahead, Trade Journal
by Trade_Journal
crown pattern on usoilhello guys... usoil or WTI makes a crown pattern. and the target of this pattern is as height as the main pattern so in this scenario usoil should reach the $66 area. to the clear crown pattern: kind of looks opposite of the head and shoulders pattern. on the hand, the $66 have been important before clearly, you can see this resistance level before and after the dump: there are a lot of reasons for usoil to reach the $66 level and maybe the price will start an upward movement from this specific level. but we should prepare for every situation so if the price engulfs the red level be ready for getting a long position. always do your research. If you have any questions, you can write them in the comments below, and I will answer them. And please don't forget to support this idea with your likes and comment
TVC:USOIL
by melikatrader94
11
$ETH - Bulls are gaining control...$ETH - Bulls are gaining control... Bullish momentum of crypto is back! ETH at key resistance zone as long as we stay above $1300 areas bulls are in control, we could head towards 50 EMA next target areas which is: $1800 areas. Overall long term target areas for break out $2000-$2500. DXY heads lower, cryptos head higher to breaking out as well as precious metals stay elevated. Going towards lower time frames to get the best prices. Don't forget to trade your own trade plan. Trade Journal
BITSTAMP:ETHUSD
by Trade_Journal