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Bullishbreakout

Silver target hit precisely after inverse head & shoulders breakJust posting this update on the silver chart to exemplify how TA often does work with exact precision. As soon as the inverse head and shoulders on silver validated its breakout the price action climbed to the exact price target before its current correction. We can see how the wick on this particular chart even hit the top of the measured move line at exactly the time it hit its target. Always a cool thing when that occurs. *not financial advice*
OANDA:XAGUSD
by DrDovetail
Silver correcting after 1st target hit; bigger invh&s trgt = $34The top of the highest wick on silver is actually the exact measured move target of the previous inverse head and shoulders silver recently hit precisely. On the journey as it retested that ones neckline it formed this anger more horizontal inverse head and shoulder neckline and has since also broken above it with a measured move target much higher at around $34. I am currently watching for the dotted purple measured move line or the horizontal neckline to get retested here and hopefully one or the other wil maintain support…price could easily also dip back below the neckline a few times before the real breakout like it did with the previous inv h&s neckline. I will link the previous invh&s chart down below for you to compare. *not financial advice*
OANDA:XAGUSD
by DrDovetail
Bitcoin dominance teasing a break above the purple channel.The fomo of people wanting to start piling into bitcoin is intensifying and we can see that here in the bitcoin dominance chart as price action is starting to poke its head above this purple channel we’ve been consolidating in for some time. For it to truly break out. Of this channel it’s gonna need to flip the tan trendline just above it to solid up port though. A rejection from that tan trendline could send bitcoin back inside the purple channel. Should it flip the tan trendline to support, you can see the dotted purple line that will lead us to the full measured move target. We can also see a dotted green measured move line from a different chart pattern to the left of that also having a price target that is close to the same range, which bolsters the probability of the purple target being reached with some nice bullish confluence. No confirmation of the breakout just yet but If we can get a full candle closing above the channel in its entirety that will likely be a bi sign that its ready to trigger. First things first is just getting part of a 1day candle body to close above the top trendline of the purple channel. SHould this confirm its breakout then we are likely to see bitcoin pump on its own while most of the alts only go sideways or have very little increase in price until bitcoin dominance has reached its full target. *not financial advice*
CRYPTOCAP:BTC.D
by DrDovetail
An update to my Dow Jones chart I posted July 18th 2023The original chart was on a much larger time frame, but we are getting so close to the second measured move target now I figured I’d make this update on the daily chart. We are now about 3 pips away from hitting the 2nd bigger invh&s pattern’s full measured move breakout target. Always amazes me how these things come to fruition, and in this case I was able to predict with macro chart patterns it would reach these heights 7 months before it happens. That’s not to say it wasnt happening this whole time because it essentially was, just had to not fall for the initial break above the necklines and also the follow up break back below the neckline….classic head fakes I expect to see this higher target hit in February, where the market will go from there I’m really not sure..this could indeed be a fulcrum point but it could also behave like solana just recently did and just blast well above the target or after reaching the target continue to pump. Either way I expect this will at least reach within a half pi of the target but think probability is high of it hitting the target 100% still. *not financial advice* I will post a link to the original chart from last July down below. Thanks for reading, following, and rocket boosting my charts. Much respect.
TVC:DJI
by DrDovetail
2
Total Cryptocap’s log chart just hit the falling wedge targetIf we take the teal bull pennant and only measure the pennant part which is also a falling wedge, the target we get from the breakout has just been hit by our current price action. I felt that was worthy of posting a chart bout. Though bitcoin has already achieved a new all time high days ago, the entire market cap for all of crypto is still just below it’s previous all time high currently. I would expect that to change in the very near future, however there’s always a chance at a retracement once rice hits the full breakout target. Since we just hit the full breakout target of the teal falling wedge, then it could retrace, if it does it may take longer to reach a new all time high. ALso possible for it to pump just enough to reach a new all time high then start its retrcement, correction, or sideways consolidation. Either way we can see as I have stated in previous charts, that this falling wedge is also a very valid bullish pennant and the breakout target once you include the height of the pennants flagpole for your measured move line, Is a staggering 17.5 trillion or so…No guarantee we hit the full target this bull run, however the ay the bitcoin spot etf buying has kind of changed the paradigm of what’s possible there’s definitely a chance we could hit this full target for this current bull run. As I have stated in the past the dotted yellow measured move line to the left is a measured move target from a pennant we broke up from 2 bull cycles ago and it didnt hit its full target in that bull run. However since it is in a very close proximity to the price target of this teal pennant’s measured move breakout target as well, it creates a good bulllish confluence and we could see both targets hit this bull run. I would say worst case scenario we head to those targets by next bull run but very plausibly can reach them during this one. *not financial advice*
CRYPTOCAP:TOTAL
by DrDovetail
Solana’s price action now breaching the larger invh&s necklineNow that we have reached the target of the smaller inv h&s neckline (which is also a right shoulder of the larger invh&s pattern) Getting to that target has allowed price action to rise above the neckline of the bigger inverse head and shoulders pattern shown here with the tan neckline. The right shoulder of the larger inv h&s pattern was not only its own invh&s pattern, but when it corrected 1 time back belo its neckline as these patterns often do, it created a second higher neckline for its self, a double decker invh&s if you will. That second higher neckline price action has now also broke confidently above but has not quite hit its full target yet. I have illustrated it here on the chart with the teal neckline. That one has a target of around $158-159. There is a high probability that once price reaches that height and hits that target, that any retest of the much larger tan neckline will result as support. If so then we should validate the largest inv h&s breakout in short order after that in which case we then begin our climb to its target as you can see I’ve illustrated here with the dotted tan ascending trendline. Usually takes trendlines like this multiple weeks to sometimes even a couple months before reaching their full target, however in our current parabolic phase it could also reach that full target in mere days. Either way patience is a virtue. *not financial advice*
COINBASE:SOLUSD
by DrDovetail
Near Protocol is now on my radar; 2 bullish breakouts in playBeen hearing lots of good things about NEAR so finally pulled t up on a chart and I can see in the short term it is currently breaking upwards from a descending channel which looks much more like a bull flag on higher timeframes, as well as an inverse head and shoulder pattern. I have illustrated both measured move targets here on the chart; The purple dotted line representing the bullflag target, and the green dotted line representing the inverse head & shoulders target. * not financial advice*
BINANCE:NEARUSD
by DrDovetail
Can Btc reach the full target of this simple bullflag?Amazing price action lately for bitcoin as it is now breaking up from a bullflag with a full measured move target from the flag of $64808. We can also see that if the current candle closes similar to the shape its in now that we would have a 3 green soldier candlestick pattern on our hands which most often s signals a bullish continuation. Of course there can always be exceptions to the bullish continuation but those are always a low probability. Let’s see if we can reach this full breakout target of this recent bull flag before any significant pullback takes hold. If we do we may just surpass the first top of the last bull run and be very close to nearing the current all time high *not financial advice*
BITMEX:XBT
by DrDovetail
GME's Swing to $290? Falling Wedge Breakout Alert! 📊✨ GameStop's Falling Wedge Formation: A Swing Trade Analysis Introduction: In the ever-volatile realm of the stock market, GameStop (Ticker: GME) has caught the eye of traders once again with its intriguing chart pattern formation. A closer look reveals a falling wedge setup, a classic bullish pattern that suggests a potential reversal from the downtrend. Analysis: The falling wedge pattern in GME's chart is characterized by converging trend lines that have been forming over the past months. This pattern typically indicates that the selling pressure is starting to wane, and a bullish reversal might be on the horizon. As we dissect the chart, the immediate target for this swing trade appears to be the top of the wedge. This level, acting as a significant resistance in the past, could be the first milestone GME might hit as it attempts to reverse its downtrend. Long-Term Swing Target: Looking beyond the immediate resistance, the longer-term target for GME could be in the vicinity of the ~$290 region. This ambitious target is derived from the height of the wedge projected upwards from the breakout point, a common practice among traders to determine potential swing targets in wedge patterns. Strategic Considerations: For traders considering this setup, it's crucial to wait for a confirmed breakout above the wedge pattern. Volume should accompany this breakout to validate the move, providing a stronger conviction for the long position. Risk Management: As with any trade, risk management is paramount. Setting a stop-loss below the lower trend line of the wedge or at a recent swing low inside the wedge can help mitigate potential losses should the pattern fail to materialize as expected. Conclusion: The falling wedge formation on GameStop's chart presents an intriguing opportunity for swing traders. With a careful approach, focusing on confirmation and risk management, this setup could offer a favorable risk-reward ratio, aiming first for the top of the wedge and then potentially for the longer-term target in the ~$290 region. Disclaimer: This analysis is for educational and informational purposes only and should not be considered financial advice. Always conduct your own research and consult with a financial advisor before making any investment decisions.
NYSE:GMELong
by STP_MrNodeItAll
3