LTC has an opportunity to reach $179 if it confirms daily c&hLooking very bullish breakout should likely be confirmed soon enough. This is essentially just saying the same thing as my march ltcusd chart says, except now the handle of the cup and handle is not only an inv H&s but a smaller cup and handle itself as well.
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TRXBTC not looking as bullish as TRXUSDIt appears we will bullishly trigger/break an adam and we've double bottom pattern on the daily on the trxbtc chart however we must keep in mind tha since we recently had a deathcross on this chart more losses against btc are anticipated after it hits its breakout target. I assume it will get rejected back down from the 1day 200ma resistance and be bounced back and forth between it and the 1 day 50ma(in orange) as support a couple times before breaking under and hopefully forming a higher low...if it ends up forming a lower low more loss against btcs value at that time will be probable. I do see it likely it can reach the breakout target in the meantime however. If somehow it continues up then we may have a deathcross fakeout on our hands which given the current overall sentiment of the crypto market in generally is much more probable than it would normally be. until we see evidence of a death cross fake out though we must put the downside as probabilities preference. My guess is a quick typical tron pump and dump due to an announcement of an announcement from Justin Sun. It can be a rewarding ride though if you time your entrance and exit right. *not financial advice* Thanks for reading.
USDCAD - Comparing Supply and demand with Support and resistanceMost people are support and resistance traders, but they fail to understand why their setups fail. Because institutions know where the majority of people are trading, and will attack these areas when appropriate.
Are you a support and resistance trader, or supply and demand? And which do you prefer?
EURJPY BUYDay chart has hit a major support and 4 day candles have respected it. The next few day candles, in my opinion will be bullish. The Target is at the next day candle closing price resistance and the stop loss is below the day candles respecting the support. The target profit also lines up to where the 30EMA should end up.
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Cup and Handle Reversal with Bullish Symmetrical TriangleHey everyone,
I have been seeing this possibility in the charts and the daily. We could have a double bottom into a cup and handle reversal. We have a potentially bullish symmetrical triangle in the handle as well. If this plays our we could launch into 6.8k in two months for a full retest of 6.8k. I'm an amateur, and this is not trading advice. This is simply a suggestion based off of some research. Let me know what you think. Open to any and all feedback and interpretations.
DXY weekly analysisThe daily chart has been showing an uptrend for the past several months, with HH's and HL's beng made. Until the last few weeks, we've seen that price hasn't been able to form a higher high on the daily, but rather a lower high and price has been wanting to fall down since then. In the 4 hour timeframe, we see signs of reversals with LLs and LHs being made. The 4 hour supply zones have been respected quite well,but so has the demand zone at 96.9 that has been holding several candles from falling further, acting as a level of support. It is also important to note that in the context of the motnhly timeframe, we are MOC, and the weekly timeframe is still an uptrend. A shorting opportunity for the DXY exists, and it would be possible to short until the 96.6 region, where a weekly demand zone is located. DXY has a lot of room to go down in both the 4hour and daily timeframes. A correction may once again happen in the daily and price could definitely go down all the way to the 96 area where we have a nice 4hr RBR which is also where price last went before going back up again. I would not long the dollar right now, but wait for it to go down to get better long opportunities.
Head & Shoulder EURJPYHello Guys. I started making videos on youtube here with another head and shoulder i just took in 1h time frame. since last week i had some very nice winning trades in row that i show in my videos in response to a trader who was saying that technical analysis doesnt work. Its all about understanding the statistics and the probability and consistency and staying to your plan after losing trades. FxStreamer is my channel on youtube hope you enjoy.
Update: Cardano Almost there (New Resistance & Support)We almost reached our IH&S Target of 1900 Sats Today.
Target was reached way earlier then i expected. Which means there is more room for growth before ADA summit on 17th-18th april.
If we Break 1900 sats in few days and close above it then we may go towards 2400.
If BTC helps Ada may also reach 3k Sats very soon.
Positive Signal: 50 EMA Crossing 200 EMA on daily chart.
Negative Signal: Weekly and daily RSI|STOCH RSI Overbought. (It may stay Overbought for long period especially when bulls are in Control.)
Retracement Level: Cardano have had very good last few weeks. It may retrace a bit which will be healthy correction. I am expecting a retrace towards 1700. If this level breaks, 1530 sats should hold.
If you were around in last ADA Bull Cycle then you may have noticed that ADA just pumps and stays there for few days and pumps again. Last Bull cycle was from 300 sats to 9k sats and all this happened within 40 days of time.
Good luck trading Ada.
GOLD - Short setup with head and shoulders inside decision zoneWelcome to this mid-term analysis of GOLD. Since October until mid February, GOLD traded within a bearish rising wedge. This pattern got a high success rate and is worth taking note of when it’s showing up on charts.
Once we fell out of the wedge, it happened with strength and volatility. Fortunately GOLD stopped where it should, the top $1200s. This zone was the chop from the flag prior to the local top and naturally got a fair amount of strength to it. It’s likely we will flag around the orange zone and down to $1280 based on the fact the flag prior to the local top lasted 30days.
This price action have possibly created the well-known pattern head and shoulders. We had a flag before breaking $1300 acting as the first shoulder, a rally up to $1340 as the head, then a dump down to $1280, the neckline, and we’re now flagging as the second shoulder below $1300.
If you think this setup will play out, I would place a short SL above $1307 to be stopped out ABOVE a local level, and not below it. The potential risk/reward rate is very good if we close this daily candle below $1300.
The orange zone marked have a history of being a point of decision and indecision. This is basically a zone well respected by chartists and traders, and is naturally a turn point for the price action. Several pumps and dumps have ended up inside this orange zone and immediately reversed. This didn’t happen this time, making me think we could have more downside coming.
There’s a certain possibility of GOLD continuing up, so you shouldn’t risk all your cards on the head and shoulders playing out. In case we continue up, I’m looking to close some longs and re-add to my shorts inside the red zone. If the head and shoulders pattern plays out, I will take profit inside the green boxes, and move my SL down manually, trailing the price. My plan is to re-add to my longs around $1210.
That’s it for now! Feel free to share your opinion in the comment section or ask me any question you’d like! Goodbye for now :]
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BTC: Possible inverted H&S in the makingBTC likes those head and shoulder patterns. Because traders like this pattern, especially the inverted head and shoulder type.
However, we should remember how often this pattern has failed in the past months. So many times, there was an inverted H&S structure in the making, and many times, it failed. It looked as if it would burst through the neckline, just to fail in the last minute, and dump.
We are finally approaching the interesting levels that I have been mentioning since weeks and weeks now.
1. The lower logarithmic downtrend resistance connecting the ATH and the 6500 level where the last big dump started.
2. The higher logarithmic downtrend resistance connecting the multiple smaller tops since early 2018, with the 6500 area. This is the stronger of the two.
3. At the area of the upper downtrend resistance (around 4900USD right now, in 1-2 weeks at 4700-4800USD), we also have the upper weekly BBand and the daily MA200.
4. The number of daily transactions is still far away from ATH: www.blockchain.com
Therefore, if the inverted H&S fails, it will bounce off the lower resistance, the low will therefore also be lower, around 1800 USD.
If the inverted H&S succeeds, we might see a nice rally to the upper resistance, as high as 4800 USD. But this resistance is ultra strong, and BTC is very overbought on weekly, volume still low, no capitulation has yet occured.
Still too many weak hands in BTC, and too many people claiming 3200 has been the bottom. No despair yet! Also, the number of transactions, which I consider one of the strongest metrics for BTC, is still far away from ATH.
All this leads me to believe, that in the best case, BTC reaches 4800, then dumps down to 2400 USD. I see these two scenarios unfold in the coming weeks.
I see almost no chance (of course the chance is not 0%, but still quite low) for BTC going through both resistances, as sorry as I am.
After that final shakeout, we should see a very strong weekly volume bar. Then the low could be confirmed and finally real reversal can start to happen.
The momet of truth comes nearer and nearer :) Good luck!
The LTCBTC Cup and Handle may finally be triggeringThe cup and handle pattern we have been watching unfold on LTCBTCs chart may finally be triggering here as ltc seems to be legitimately breaking up from its current bull flag which ahs a target that should once hit make triggering the cup and handle pattern a sure thing and continuing its bullish momentum...however there have been a lot of fake bait pumps and bait dumps over the last few weeks so we must keep in mind this could potentially be the case again here as well...however with the 1 day golden cross on ltcbtc fully sustained now I think probability favors a legitimate breakout of the cup and handle pattern here.
USDCHF Head And Shoulders formed?Not great in spotting H&S yet. We did have some bullish sentiment in the market and now formed this, that seems to fit in the plan of a H&S.
The shoulders are not higher than the head (the difference is not that great) but the neckline fits in quite well.
When the markets open tomorrow I expect to get an answer on the Idea Title.
Thanks for reading and please give me some feedback on this one.