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Broadeningbottom

ETH BACK in the Broadening BottomHow are we doing after this weekend? What we can clearly see on the 4 hour chart is that there has been a breakout on the previously reported “Broadening Bottom” pattern… it has fully hit the price target of the breakout on the downside, and the bulls have managed to bring the price back into the pattern within a fairly short period of time. It is desirable that the price now remains within the $3900. on the chart we see an inverted ascending scallop at the end of the price. there we projected a channel from the extreme in which we can state that if the price breaks below it, the pattern is switched off. if the price moves to the upper side of the projected channel, then an upward momentum could be a start to seek out for the $4700. Keep calm, do your own research! trade safe and manage your risk. *(Disclaimer: This is not financial advice)*
KRAKEN:ETHUSD
by Tims.Technische.Analyse.
Potential Bearish Megaphone !Currently, I see a potential Bearish "Megaphone" pattern or potential Bearish Broadening wedge. Short-term bearish assumptions for the gold price are the potential targets 1, 2, and 3; that's the strongest support. Technical analysis Plan A: If the price can break out and close below the potential target 3, I reckon XAU/USD will keep falling to retest the bottom wedge line. Plan B: If the price rejects the potential targets 1, 2, or 3, I reckon XAU will go up to retest the upper broadening wedge line and most likely the upper major channel line. Invalidation: If the price can break out and close above the broadening wedge, then this analysis fails. Fundamental preview Q2 started with a nice rally as Fed's dovish messages sink in. The market seems didn't care about strong US data and the US economic recovery, which statistically growing at its fastest pace since 1984. Last week, the core retails sales went up to 8.4%, retail sales went up to 9.8%, and the unemployment claims fell deep to 576K. But, U.S consumer prices surge in March, CPI finds, pushing inflation to a 2 1/2-year high. As of now, I trust the price action. London (CNN Business): "President Joe Biden's $1.9 trillion stimulus package will boost the US economy and drive faster global growth this year, the International Monetary Fund said Tuesday, though it warned that many countries continue to suffer from the pandemic and are at risk of being left behind. The US economy will surpass its pre-pandemic size as growth reaches 6.4% this year, the IMF said, up 1.3 percentage points from the group's forecast in January. The rebound will help the global economy expand 6% in 2021, an upgrade of 0.5 percentage points from the IMF's previous outlook. The estimates are broadly in line with Wall Street's expectations."
FOREXCOM:XAUUSDShort
by GoldCartel
7
Possibly A Nice Little ShortTechnical analysis Plan 1: If the price can break out and close below the potential target 3, Then XAU/USD will keep falling to retest the bottom wedge line. Plan 2: If the price rejects the potential targets 1, 2, or 3, I believe gold will go up to retest the upper broadening wedge line and most likely the upper major channel line. Invalid if: If the price can break out and close above the broadening wedge , then this analysis is no longer valid. Please only risk 1-3% Per trade Practicing Proper Risk Management I provide daily detailed analysis and trading setup. More info: Click link in bio
FX:XAUUSDShort
by hordj
1
BTCUSD Broadening BottomThought I'd finally share my thoughts on Bitcoin. It looks like a megaphone pattern is forming, specifically a broadening bottom. These patterns are explained in detail by Bulkowski for those that are interested: thepatternsite.com Suffices to say they are not reliable bottoms at all. They can break up, but they also demonstrate a high failure rate. A good indication of a break above resistance is the partial decline, where the price retests resistance without going first to support. Likewise a good indication of break below support is the partial rise, which should be self-explanatory. As Bulkowski says, these are risky zones to enter. They are characterised by increasing volatility, which make them optimal for scalping and short swing trades, but for investors their outcome is not easy to predict.
BITFINEX:BTCUSD
by RealMcafee
2