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BMRI - Awaiting for The Next Reversal PointA symmetrical triangle pattern appeared since Feb'20 to Jan'22, and create a foreseeable target price IDX:BMRI at 11,250. The price was hit 11,000 in Dec 6th, 2022, nearly hit 11,250 as a mirroring projection to the symmetrical triangle, and making a corrective wave so far. I used Fibonacci Retracement to find its reversal point, and finally found it at 8,375 to 8,625 level, I would like to buy IDX:BMRI at these key level. Wish me luck.
IDX:BMRILong
by BaldAndBold1385
📉📈 ZigZag IndicatorZigZag's primary goal is to focus on significant swings and trends by removing insignificant and misleading price changes. ZigZag connects the price's highest and lowest points using straight lines while ignoring minor swings. ZigZag just aims to make sense of the market's previous movements; it makes no attempt to predict the price of an item. It is only based on hindsight and is not predictive in any way. It is based on the past prices of securities and cannot forecast the next swing highs and swing lows. 🟢Advantages It eliminates market noise and displays the most significant price fluctuations. It operates in several timeframes. When utilized in cooperation with other technical indicators, it gives positive results. 🔴Disadvantages It will mark the latest high or low of the price with a time lag. The last stretch of the indicator (the one that involves the current price) may be redrawn. Not predictive in any way, has to be used in combination of other strategies to be effective. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work , Please like, comment and follow
Education
by QuantVue
CADCHF - Perhaps another leg higher?CADCHF - Perhaps another leg higher? CADCHF Checking higher timeframes at key support of weekly, monthly and daily we've got range breaking out, further upside could take us towards 0.70500 areas. However, keep in mind if we go back within this range I'd be re-thinking core long on CADCHF We had CPI came in as estimate, it wasn't a major move we headed to the direction we are heading in all markets, dxy heads lower etc. The trend is your friend, until it's broken. Great traders I network with via twitter gave me amazing advice, a great trader and personally a mentor to me stated "Never met a legit millionaire who is out there bringing people down" . And it's true, every successful trader I've surrounded myself with are open to discuss market moves, psychology aspects and they aren't selling scams via a telegram, not become a social media guru to gain lot of followers. The right traders they helping trading communities grow in a correct manner. Have a great weekend, Trade Journal
by Trade_Journal
1
❌ False Breakout PatternsA breakout that failed to proceed past a level, leading to a "false" breakout of that level, is referred to as a "false breakout." One of the most essential price action trading patterns to learn is the false double bottom and double top patterns, as a false-break is frequently a very strong indicator that price may be changing direction or that a trend may soon resume. False breakouts occur in all market scenarios, including trending, consolidating, and counter-trending. Trading Tips To Respect: ✅False breakouts can happen in markets that are trending, range-bound, or going against the trend. Watch for them in all market conditions since they frequently provide insightful hints about the direction the market will take. ✅Trading against a trend can be challenging, but one of the "best" approaches is to watch for a clear false breakout signal from a significant support or resistance level, as in the last example above. ✅False breakouts provide us with a "window" into the "fight" between expert and amateur traders, allowing us to engage in trading alongside them. Trading will appear to you in a different light if you can learn to recognize and trade false breakout patterns. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work , Please like, comment and follow ❤️
Education
by QuantVue
2
SPX - We are still within the range!SPX - We are still within the range! SPX - For most indices we've had bullish momentum especially in Europe side cac, ftse, dax amazing moves but we are still struggling when it comes to US Indices. We've had great bullish momentum at the end of the week now let's not get too excited we are still within the ranges things to keep in mind this week going forward CPI, Q4 earnings, Unemployment claims coming out of US. Key tip: Ignore the noise and focus on the chart in front of you. Everyone has opinions, they'll even comment on your career choice but most importantly only YOU can learn and earn by the execution of your own trades. A break to either direction. Trade Journal
SP:SPX
by Trade_Journal
4
6 Reliable Bullish Candlestick PatternHello dear traders, Here are some educational chart patterns that you must know in 2022 and 2023. I hope you find this information educational and informative. We are new here so we ask you to support our views with your likes and comments, Feel free to ask any questions in the comments, and we'll try to answer them all, folks. 6 Reliable Bullish Candlestick Pattern 1) The Hammer 2) Bullish Engulfing Crack 3) Bearish Engulfing Sandwich 4) Morning Star 5) Tweezer Bottom 6) Piercing Line 1. The Hammer:- Hammer is a bullish candlestick reversal candle. Which is formed within the next few candles. As the price declines sharply, we anticipate a final bounce. But how can we estimate without falling into overselling? That's where Hammer comes into play. This gives us evidence that the selling pressure is subsiding or being absorbed. Furthermore, if the volume signature associated with the hammer candle is significant, it adds even more confidence to our thesis. We are looking to cash in on shorts who are taking profits and covering, as well as dip buyers who are taking chances here on oversold positions. Expectation? an assembly. Ideally, you identify a hammer candle, take a long position on a break on the upside of the candle, and set risk on the low or in the body of the hammer. Bullish Hammer Example;- Let’s look at a real-life example with BTC. Right off the open, BTC retests the lows from the pre-market. Once it reaches those levels, volume increases slightly as it reverses on the 5-minute chart seen here. Visibly, there is a “shelf” forming near the low of the hammer candle’s body. The bar to the left and right is also closed and open in that price “shelf” area. The second 5-minute chart opens with a bit of weakness, then rallies strongly above the Hammer candle. This is your signal to go long. The break of the Hammer candle body. Set the stop below the close of this bullish 5-minute candle. 2. Bullish Engulfing Crack:- You can imagine that shorts will start covering given the rising price of the stock. This adds fuel to the already existing buying pressure. The result is a bullish candlestick pattern that swallows up the bears' efforts. For the long-biased trader, the opportunity is perfect. As is the case with any setup, we are looking for evidence to sway our confidence in either direction. The fact that the bears completely got away in this single bar is proof enough for us. You go long on the break of the previous bar and set the stop on the low. Bullish Engulfing Examples:- Here's a snapshot of BTC, which provided us with a beautiful opening range breakout (ORB) opportunity right out of the gate on this particular day: After the selloff, buyers come in and remove the selling pressure from the pre-market, engulfing the bears before moving up. To be safe, you enter long when the red candle breaks, setting your risk at the low level or body of the first green candle. There are some advanced traders who are more aggressive and may take their positions early if they feel a reversal is imminent. 3. Bearish Engulfing Sandwich:- do not be confused. Just because the name says "bearish" doesn't mean it's a bearish pattern. Far from it, actually. It is often referred to as a stick sandwich. The name is derived from the sandwiching of a "bearish engulfing" candle by two bullish candles. Thus, it is a bullish candlestick pattern in this context. Similar to the above example of a Bullish Engulfing Crack, this pattern takes a bit longer to "move through" so to speak. Essentially an extra bar. The perception is that the trend has reversed and we are now going down. After all, the bearish engulfing candle gives us that confidence, If you're on the smaller side, there's hope. However, stocks don't always do what we want them to. We have to react to what the market gives us, not what we think should happen. In this case, the Bearish Engulfing Crack is used by two bullish candles that move upwards. If you are short, hopefully, you have respected your stop loss. If you are a long-time bias, here is a good opportunity for you. Bearish Engulfing Sandwich Example:- After opening with a 5-minute candle chart, BTC gives a great view of it in real-time. In this case, the right side of the sandwich acts similarly to the Bullish Engulfing Crack candlestick pattern. For all intents and purposes, you should treat your entries and risk according to the same pattern. 4. The Morning Star:- Morning Star should gap down. It's difficult to find on an intraday basis. For this reason, we are good enough for a solid Doji candle reversal pattern. The opening candle should be long-bodied and bearish. The middle candle is the one with the smaller body. A reversal candle is another bullish candle with a long body (usually gaping up). The close of this bullish long-bodied candle should be above the midpoint of the first candle. Without much selling pressure, the candlestick climbs to higher prices as sellers cover and buyers take advantage of discounted stock pricing. Morning stars can also appear as morning Doji stars. They look almost identical except for the body of the middle candle. The story of buyers and sellers remains the same. Bullish Morning Star Example:- You can see this in action with the BTC example below. A long-body bearish candle, followed by a narrow-body indecision candle. The bulls take control of the next candle and the rest is history. It is worthwhile to note the volume of the first candle. We cannot assume that this is a complete recession. As you can see, there is buying pressure at lower levels. When a Doji candle is formed, it gives us confidence. As a result, as soon as the price moves away from the lower level of the green candle; It does this in small amounts. How can we explain that? It took less effort to increase the price. Therefore, we can assume that the reverse is "ease of movement". This should give us confidence in our long position. 5. Tweezer Bottom:- The Tweezer Bottom Bullish candlestick pattern consists of two candles – usually with small bodies. The first should be a red/bearish candle, and the second a green/bullish candle. Theoretically, the Tweezer Bottom alerts the chart reader to the fact that an attempt is being made to push the price down, but to no avail. Two smaller-sized candles represent the presence of demand in the market. Supply is being absorbed keeping candles short in the presence of selling pressure, so the volume sign will appear higher. Entry should be taken as soon as the price breaks through the second candle. Stops can be set on the lows. Bullish Tweezer Bottom Example:- BTC is displaying a beautiful tweezer bottom candlestick pattern for us on the 5-minute chart. Note the narrow bodies of the two candlesticks, their symmetry, and the close range from red to green. The volume of this first red Doji is particularly interesting. Note how high it is here. Given the context, we can interpret this as an absorption of supply. The second candlestick (green) then rapidly decreases in volume. Thus, our thesis is confirmed that sales are absorbed and eliminated. 6. Piercing Line:- The piercing line may look similar to a bullish engulfing pattern. The exception is that the piercing line does not completely encircle the previous candle. It is still considered a bullish candlestick pattern as it overcame the downward momentum to close at least midway in the body of the previous candle. It pierces the bottom line but inevitably retraces. Bullish Piercing Line Example:- Piercing lines may present a greater risk to reward at lower levels of support. They can also act as a spring in the trading range. This 5-minute chart of BTC shows the combination of an opening range breakout (ORB) with a piercing line. Together, it's a combination that can really add confidence to our entryways. As with any setup, the more evidence we have to confirm our bias and plan, the better. For this reason, it is always good to ask yourself: Are the trends in my favor? Is it time for a change? Does the volume confirm my thesis? Is the stock in an area of support or resistance? Are the multiple timeframes in line with my view? Trade with care. If you like our content, please feel free to support our page with a like, comment Hit the like button if you like it and share your charts in the comments section. Thank you
Education
by CryptoSanders9563
7
💎 Diamond Chart PatternAll financial markets, including the stock market, forex market, cryptocurrency market, and futures markets, feature diamond reversal patterns. Compared to many other traditional chart designs, the diamond pattern is less frequent. However, it's critical that you understand and recognize the pattern since, when it happens, it can present a great trading opportunity. In general, a diamond top pattern that follows a rise in market prices offers a greater likelihood of a trade than a diamond bottom pattern that follows a decrease in market prices. 🟢 Bullish Scenario: After a decline, a bullish diamond pattern known as a diamond bottom appears. Typically, a diamond bottom is formed by a significant price decline followed by a consolidation phase that creates up and down swing points. The appearance in this situation will resemble an upside-down head and shoulders design. The structure's peaks and troughs will be connected in the same manner. 🔴 Bearish Scenario: The diamond top typically occurs at the peak of significant uptrends. It efficiently and accurately predicts imminent shortfalls and retracements. By focusing on a head-and-shoulders structure and adding trendlines to the highs and lows, a diamond top can be found. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work , Please like, comment and follow ❤️
Education
by QuantVue
EUR/USD in a lovely rangeThe algorithm has found an interesting pattern in EUR/USD. Red in chart After the break of the previous channel the price has corrected a 61,8%, the fibo level but this is also the previous zone of supports and resistances. If that's not enough, it's also the last level with accumulated volume, if we move to 1,08 the volume disappears which would be the perfect storm for a rally until the zone of 1,12 where we should expect offer again. Green in chart To see the rally to 1,12, a fast break of 1,08 must occur. So having enyrty postitions over 1,08 could be an interesting strategy with a good risk reward ratio. Blue in chart The model predicted this area as a key level to stop rallying due to multiple reasons: 1. Prior supports and resistances. 2. High volume accumulation, meaning that offer is probably waiting here. 3. 61,8% fibo level. 4. High band of the new uptrend channel. After this lateral market started dec 15, the break could firstly occur in the downside, breaking the support of 1,06. If this occurs a small double top pattern would be confirmed and we should see the price to 1,04 soon. This level would be key to see if we are still in a lateral correction of this uptrend.
by TopChartPatterns
USDSEK - Let's sit & wait...USDSEK - Let's sit & wait... Most favourite plan to do on the weekend is my weekend analysis. The market is close, going through higher TF, getting into the zone and ready to crush another week of trading! USDSEK - Another trading pair I occasionally trade. I feel the behaviour of SEK is very interesting, i'd say I do trade relatively small on this pair but the risk/rewards are great. For now we are waiting for a break to either direction and this is a similar theme on all FX pairs I am looking at. When the market are these conditions I usually add alerts and perhaps limit orders. Key Tip: Don't forget to follow your trade plan and if you don't have one MAKE ONE! Trade Journal
by Trade_Journal
Bitcoin warning🔥🔥VOLATILITY IMMINENT!On October 22, we said about the price increase. The prices of the dollar index went down. we expected bitcoin prices to rise. That's not all, if prices start to rise soon, bitcoin means that the hashrate to mining revenue ratio of $25,000 will reach an all-time high, which means they continue to invest in infrastructure despite very little mining revenue BTC in dollars. Historically, miners have been underwater in the short term, but have never failed in the long term. Keep an eye on the yellow marked area. As soon as we can get a weekly close above the top diagonal resistance things will start to look much better. Patience is key.
CRYPTO:BTCUSD
by mmakerinvest
3
Double bottom in Credit AgricoleThe algorithm shows an opportunity to buy credit agricole if the double bottom pattern breaks. The double bottom pattern is a bullish reversal pattern that appears on a chart as two distinct bottoms at roughly the same price level, separated by a peak in between. The pattern is formed when the price of an asset falls to a support level, bounces back up, falls back down to the same support level, and then bounces back up again. This pattern is considered bullish because it suggests that the asset's price may be about to start rising again after a period of decline. One way to trade the double bottom pattern is to wait for the price to break above the peak that separates the two bottoms. This is known as the "breakout." Once the price breaks above the peak, it is a signal to buy the asset. Some traders may also set a stop-loss order below the second bottom, to limit their potential losses in case the price does not continue to rise. So, a possibility is to wait the break of 10,2 level and look to sell in the next area where volume increase and we also find supports & resistances (11,50€). A break of the small black line could also be a great point to buy, but it's not a confirmation of the larger double bottom pattern.
EURONEXT:ACALong
by TopChartPatterns
📊 Understanding the Cup and Handle PatternA cup and handle is a technical analysis pattern that appears on a chart as a U-shaped pattern, followed by a small downward drift, resembling a handle. It is important to note that like all technical analysis patterns, the cup and handle pattern is not a guarantee of future price movements and should be used in conjunction with other analysis techniques. 📈Cup and Handle It is considered a bullish pattern and is often used by traders to indicate the potential for an upcoming price increase. The pattern is formed when the price of a security falls, reaches a bottom, and then rises back up to near its previous high before falling again. The downward drift that follows is the handle. The pattern is considered complete when the price breaks through the resistance level (the top of the cup) and continues to rise. Technical traders using this indicator should place a stop buy order slightly above the upper trendline of the handle part of the pattern. 📉Inverted Cup and Handle After the cup forms and the beginning of a noticeable handle takes shape, begin to monitor trading volume closely. One way to think of the inverted handle is a follow-up to an inverted cup. The inverted handle retraces the initial move, but not to the level of the original trend. Once you see a retracement in the form of an inverted handle of the original inverted cup pattern, setting a stop loss while selling the trend could be a potential trade idea. 👤 @algobuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work , Please like, comment and follow ❤️
Education
by QuantVue