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Bullish Flag

Analysis: AUD/JPY Bullish Flag Pattern Breakout TradeAnalysis: AUD/JPY Bullish Flag Pattern Breakout Trade Based on my analysis of a bullish flag pattern breakout in AUD/JPY, i have formulated a trade plan to capture the continuation of the bullish trend. Here is a breakdown of your trade plan: Currency Pair: AUD/JPY Entry Price: 98.827 Stop Loss (SL): 94.093 Take Profit (TP): 108.330 Bullish Flag Pattern Breakout: i have identified a bullish flag pattern, which is a continuation pattern that suggests the resumption of an upward trend. The breakout from this pattern indicates potential bullish momentum in AUD/JPY. By recognizing this pattern, i aim to enter the market in anticipation of the continuation of the upward trend. Entry Point (98.827): i have chosen entry point is at 98.827. This entry price should be determined based on technical analysis, such as the breakout level of the bullish flag pattern or other significant resistance-turned-support levels. Ensure that the entry point aligns with the breakout and provides a favorable risk-to-reward ratio. Stop Loss (94.093): To manage risk, i have set a stop loss at 94.093. The stop loss level is placed below a significant support level or a point that, if breached, would invalidate the bullish scenario. It acts as a protective measure to limit potential losses in case the trade moves against your expectations. Take Profit (108.330): i take profit level is set at 108.330. This level represents your target for closing the trade and taking profits. It should be determined based on resistance levels, Fibonacci extensions, or other technical indicators that suggest potential areas where the price might encounter selling pressure or reach a significant target. Remember to continually monitor price action and adjust your trade management as market conditions evolve. Consider factors such as economic data releases, geopolitical events, and changes in market sentiment that may impact the AUD/JPY pair. It is essential to conduct thorough analysis, implement proper risk management strategies, and adhere to your trading plan. Trading involves inherent risks, and it is crucial to stay disciplined and adapt to changing market dynamics.
Long
by Jazzy_Qmolautsi
TSLA's bull-flag breakout meets the VWAP anchored to its ATHPrimary Chart: Daily chart of NASDAQ:TSLA with anchored-VWAP from Nov. 2021 all-time high Different stocks tend to have unique price characteristics. Some move timidly, others move boldly. Some are volatile, some are tame. Some some make predictable moves in incremental steps, and others whipsaw around before crashing higher or lower. NASDAQ:TSLA is anything but timid. It's price action tends to be the bold and volatile. And it has no problem faking out directionally bullish or bearish traders—and it may often even take a few non-directional premium sellers down with it as well. Just look at the chart from its pandemic 2020 lows, Supplementary Chart A. Rallies are spectacular, eye-popping, and unbelievable. Declines are precipitous and devastating. Dabbling in TSLA stock, with or without leverage, or its options is not for the faint hearted, requiring traders to be both nimble and expert risk managers. Supplementary Chart A Just a few days ago on May 30, 2023, TSLA broke out of an apparent bull-flag pattern. A bull-flag pattern is a consolidative pattern that interrupts a rally. Conversely, a bear-flag pattern—not the case here—is also a consolidative pattern that interrupts a decline. Bull flags take the shape of a narrow range where trading peaks and valleys form a parallel channel with the downtrend line at the upper bound and the return line at the lower bound. When confirmed, flags tend to be a continuation pattern and involve a breakout in the direction of the (short-term or long-term) trend that led to the flag. The length of the trend leading to the flag gives a hint at its significance. This flag breakout gave traders little time to catch it. Even the retest didn't even fall all the way back to touch the bull-flag channel, making only a perfunctory attempt, a feint perhaps, at touching the flag channels upper trendline. See Supplementary Chart B.1 below. The breakout made some technical sense given that TSLA's price had found support or recovered its VWAPs anchored to recent swing highs and lows from January 2023 and March 2023 as shown in Supplementary Chart B.2. Supplementary Chart B.1 Supplementary Chart B.2 But now, TSLA has run straight into its anchored VWAP from its all-time high in November 2021. See Supplementary Chart C.1. This is a critical level to watch. The Primary Chart also shows this VWAP going back to the all-time high, and it reveals how this anchored VWAP has been resistance. Because NASDAQ:TSLA is prone to false breaks and whipsaws—see the April 2022 highs and the August 2022 highs as examples—it is not surprising that TSLA has tended to break above this critical VWAP several times toward the end of its bear rallies only to fail after trapping a bunch of bulls. At the August 2022 highs for TSLA, it broke above and below this VWAP repeatedly, trapping bears and bulls several times. So it may be reasonable to expect trappy price moves around this multi-year VWAP again this time before a reliable direction becomes more apparent. This will be important to monitor. Many traders and investors have developed a narrative that has convinced them one way or the other. And at the end of the day, many may lose, although this author wishes only the best of luck to every reader who trades TSLA (shorts and longs). Even the ones who are correct as to the ultimate direction months from now may get stopped as price traps around this level. Supplementary Chart C.1 If TSLA can break and hold above its ATH anchored VWAP, then perhaps it can reach its 50% retracement at $258, shown in green on Supplementary Chart D below. Note that Supplementary Chart D contains the Fibonacci levels covering TSLA's entire bear decline from its November 2021 all-time high. This coincides with a gap that may draw price to $262, which is just above that retracement level. And a key resistance area from September 2022 lows lies at $265. Decisive closes above this VWAP may bode well for short-term traders to target this $258-$265 zone. Supplementary Chart D For those who find themselves very attached to a security or crypto (including TSLA)—meaning essentially unable to part with it to the point of ignoring risk management—please consider that the yield curves remain deeply inverted. Since this yield-curve post was published back in late November 2022, the 10y/3m yield curve has inverted even more deeply into negative territory. TradingView's yield charts don't go back far enough, but for all the data shown by TV, the inversion is a record. Liz Ann Sonders of Schwab posted a chart in January 2023 showing that it was the deepest inversion since 1981, which in January meant that this segment of the curve had reached a 42 year record inversion! Other widely followed yield-curve inversions have fallen into record inversion territory as well. But this may not preclude TSLA from rallying hard similar to the way AAPL and NVDA have done. On the other hand, TSLA may be late to the party if the party decides to end soon. No one knows, but traders can watch how price interacts with key levels, which provides more information than the best macro analyst on the planet. ________________________________________ Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed. Please note further that this technical-analysis viewpoint is short-term in nature. This is not a trade recommendation but a technical-analysis overview and commentary with levels to watch for the near term. This technical-analysis viewpoint could change at a moment's notice should price move beyond a level of invalidation. Further, proper risk-management techniques are vital to trading success. And countertrend or mean-reversion trading, e.g., trading a rally in a bear market, is lower probability and is tricky and challenging even for the most experienced traders. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
NASDAQ:TSLA
by SquishTrade
13
🔥 INJ Long-Term Bull-Flag Break Out AnticipatedINJ has been trading in a bearish channel for nearly 3 months now. With Bitcoin's resurgence, there's a decent probability for INJ to break through the top resistance and to continue it's bullish trend. The yellow marked area is a short-term bull-flag, within a long-term bull-flag. The trade is based on the premise that both will break bullish. SL under 7.00, profit target at the recent 2023 top for a decent risk-reward of almost 5.43, make sure to wait for confirmation.
Long
by FieryTrading
9
KARURVYSYA Swing Trade setup.This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal. On daily Time Frame Karurvysya is making rounding bottom pattern and is about to complete if breaks resistance of 116 with above above average volume on daily TF will buy with stop loss of low of candle below resistance, Target will be 127. If Price rejects resistance then maybe we can expect it to form Cup & Handle like pattern. On Weekly TF price broke through Flag & Pole Pattern and for that weekly target will be 135. I cannot update charts or my ideas coz i don't have pro subscription i can only post additional charts if reputation level is above 10..need your supports who ever watch or agrees with setups i am posting. Thanks everyone.
NSE:KARURVYSYALong
by TradeInsights
🔥 Bitcoin New Yearly Highs: It Was Just A Bull Flag!As of a few moments ago, BTC has officially broken through the 31,000 resistance, which was established all the way back in April. This officially brings an end to ~70 days of selling and bad market conditions. With the Bitcoin dominance in break out mode, this is still just a bitcoin-only party. Let's see how the alts will react. Nevertheless, this is a great time to be in the market. As explained in my Elliot Waves analysis, I'm currently expecting BTC to see more bullish pressure. Target is the 36.5k - 40k area.
Long
by FieryTrading
2
🔥 Bitcoin Finally Breaking Out After Months Of Selling?BTC has been trading inside a bearish channel since we topped out at the start of April. Effectively, nothing interesting has happened for 2 months. As of today, BTC is yet again testing the top resistance of the channel. This signal assumes that we're going to break out of said channel, making it a bull-flag break out. Please be patient for the break out to confirm! With many alts trading around their 2023 lows, there's a lot of upside to be had in the alts, but for now we're looking at BTC. Stop below the most recent swing low. Target placed at the 2023 highs.
Long
by FieryTrading
13
GBPCAD I How to trade it following BOC Rate ReportWelcome back! Let me know your thoughts in the comments! ** GBPCAD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
1
No, Bitcoin is NOT crashing :)Everybody now on youtube and social media is freaking out that BTC is crashing because of the sec and binance news. EVERYONE except for ME, Chemastro, the one who sees the future! I said buy before june 8th. And I know what I am talking about. Technically, it is a bullish flag on weekly with lots of bullish signs on oscillators. “Magically”, using my unique astrological prediction, this year is THE YEAR for bitcoin, and June is a significant month. Follow me If you want to listen from somebody who knows what they are talking about, and does not base their analysis based on the opinion of others. Have a good day
BITSTAMP:BTCUSDLong
by ChemastroOfficial
7
I Cannot Short This !!!👌Price finally managed to break the Bullish Flag . the price can easily reach the target after a little correction. 🌟 Bullish signals in the PRZ area are: - Support zone - Pivot - Bullish Channel - Bullish Flag - bollinger band - 5th Waves ⭐ Note if the PRZ is broken downwards with the strength of Bearish candles , this analysis of ours will be failed. ✅If this post was useful for you, like it ❤️ and if you think it is useful for your friends, be sure to send it to them. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 🌍Thank you for seeing idea . Have a nice day and Good luck.
Long
by CobraVanguard
19
Bitcoin - Pitchfork and Bullish Flag (You haven't seen it!) On the chart, you can see my Fibonacci original pitchfork on the logarithmic scale, starting from the bottom at 15476. As you can see, this pitchfork is very well respected, sometimes pretty much exactly to the dollar. The power of a pitchfork is real on Bitcoin. I use Fibonacci 1, 0.618, 0.382, and 0 values for it. Right now, the price of Bitcoin is still bullish because the pitchfork is clearly holding, we can see a bullish flag / parallel channel on the recent price action, and what's more, we have an ABC correction that has been completed successfully. It's a good bullish setup for longs, but we all know that if the price falls below the pitchfork and below the ABC wave, it's going to trigger a massive crash to 15k! Bitcoin is overall pretty weak compared to gold, which has already almost hit an all-time high while Bitcoin is struggling. In all of my analyses, I always give you a very strong technical analysis that no one else does. I keep my description pretty short, so you don't spend too much time reading while all the necessary information is included. It's really best for bullish flags to be together with an ABC correction of ZigZag types. This will increase the probability of success. Maybe I am wrong and Bitcoin is not going to pump, but it's totally okay as long as your risk-to-reward ratio is above 3. You can be right only 40% of the time to be a successful trader. Most people think you need to be right 80% of the time, which you can, but your risk-to-reward ratio will be only 1, which gives you a very small profit for each trade. I prefer a higher risk-to-reward ratio with a lower success rate. I do analyses for the bulls and for the bears, and now it's your work to do your own analysis and open trades. I give you good reasons for the bullish and bearish scenarios. It can sometimes look like all I post is that I am sure about it, but it's just a part of my personality. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately. Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
132