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Sold 1/2 Bitcoin. Raised Stops.Even though we did not reach my 1:2 rrr target, nor did my sell signal fire off, I am choosing to take 1/2 of my Bitcoin profit here, raise my stops, and hold the remainder of the position. I should’ve done this at 68k, but wanted to see how this market would handle the top of our channel. All along the big resistance target I have discussed has been 68k. I still believe we could break through it, however, the chart is beginning to disagree. Inside of my descending channel (which is bullish long-term) we have this ascending wedge pattern beginning to form (this is bearish). If correct and it plays out, it would take us all the way down to 48k. Sound significant? Yeah, that’s ‘cuz it is! You’ve heard me discuss 48k many times in the past. It is the neckline of a larger inverse head and shoulders pattern seen on the weekly chart below. We wicked down once in an attempt to kiss and retest. But that may not have been enough tongue action for these bears? Mark this wedge out on your charts and watch it closely. It is significant. And if it breaks? To 48k we’ll go.
INDEX:BTCUSD
by stewdamus
EURCAD still bearish expectations EURCAD in last week we are have strong bearish trend, technicalls are be strong bearish and one of impacts is come from USD weakened. On 4h TF we can see bearish expanding triangle, bounce from top zone of triangle is start on 26.8 price is fall 200PIPS. Now for new week, next periods, based technically here still strong bearish expecting. Based on price action can see 1.49500 strong zone is breaked on 30.8 Friday, which will use for one more good sign for bearish still to see. TP1: 1.47100 (200) All best, here for comments, stay tuned!
Short
by DepaTrading
NZDJPY for new week bullish expectations NZDJPY after BoJ is rise rates, we are have strong bearish trend in last periods from 12.7 till 5.8. In last periods we are saw USD weakened and we are can see JPY is start stagnating. In the meantime ASCENDING CHANNEL is be created and on 28.8 price is make break of same. And in next day 29.9 price is break and crucial zone (90.500), zone is fresh breaked, bullish trend is not make to much here and for new week still expecting here bullish push till next zone. TP1: 93.000 (160) TP2: 94.000 (260) All best, here for comments, stay tuned!
Long
by DepaTrading
What Are Bullish and Bearish Breakaway Candlestick Patterns?What Are Bullish and Bearish Breakaway Candlestick Patterns? Candlestick patterns are a vital tool for traders, offering insights into market sentiment and potential price movements. Among these formations, breakaway patterns are particularly notable for their ability to signal trend reversals. This article delves into the specifics of these formations, explaining how to identify, interpret, and apply them in trading strategies to potentially enhance trading outcomes. Understanding Bullish and Bearish Breakaway Candlestick Patterns Bullish and bearish breakaway candlestick patterns are essential indicators used by traders to identify potential trend reversals. These patterns consist of five specific candlesticks and offer insights into the market's shifting dynamics. Bullish Breakaway Pattern A bullish breakaway signals the potential end of a downtrend and the beginning of an uptrend. It comprises five candlesticks: - First: A large bearish candle, indicating strong selling pressure. - Second: A smaller bearish candle, showing a continuation of the downtrend but with reduced intensity. There is also a gap. - Third: Another bearish/bullish candlestick, typically smaller than the second, suggesting further weakening of the downtrend. - Fourth: A smaller bearish candle, hinting at a possible reversal. - Fifth: A large bullish candle that closes within the gap between the first and the second candles. The signal is stronger if the candle closes above the high of the first candle. Bearish Breakaway Pattern A bearish breakaway indicates the potential end of an uptrend and the beginning of a downtrend. It also consists of five candlesticks: - First: A large bullish candle, showing strong buying pressure. - Second: A smaller bullish candle with a gap up, indicating a continuation of the uptrend but with decreased momentum. - Third: Another bullish/bearish candle, typically smaller than the second, suggesting further weakening of the uptrend. - Fourth: A small compressed bullish candle, signalling a possible reversal. - Fifth: A large bearish candle that closes within the gap between the first and the second candles. The signal is stronger if it breaks below the low of the first candlestick. Criteria for Identifying Breakaway Patterns When identifying breakaway patterns, traders look for specific criteria: - Trend Context: Both formations occur after a defined trend—a bullish breakaway after a downtrend and a bearish breakaway after an uptrend. - Candle Sizes: The first candle is always the largest, showing strong market sentiment in the trend’s direction. The subsequent candles typically decrease in size, indicating a weakening trend. - Confirmation Candle: The fifth candle is crucial as it confirms the reversal. It must close within the gap between the first and the second candlesticks. These patterns are valuable for traders as they provide early signals of potential trend changes, allowing for more strategic planning and analysis. To get started spotting your own patterns, head over to FXOpen’s free TickTrader platform to explore real-time forex, stock, and cryptocurrency* charts. Caveats to the Pattern While these rules represent the ideal breakaway formation, there can be some flexibility. For instance: - Candle Sizes: The first candle should be the largest and the next three smaller. However, the middle three don’t necessarily need to be consecutively smaller, just smaller than the first. - Transition Candle: If the fourth candle shifts colour (bullish for bullish breakaway, bearish for bearish breakaway), this can add confirmation that a potential reversal is underway. - Closing Beyond the First Candle: While the fifth candle closing beyond the first is preferable, it’s also acceptable if the following (sixth) candlestick is the one that closes below the first. The idea is that the final movement of the formation engulfs the prior candlesticks, signalling a reversal. - Gaps: A gap between the first and second candle indicates momentum before the subsequent reversal, implying that the reversal may have more strength behind it as traders buying the top/selling the bottom exit their positions. Gaps may be visible on daily charts (especially in stocks) but not on intraday charts or in more liquid assets, meaning they are not essential. Interpreting the Breakaway Pattern Interpreting breakaway patterns provides traders with valuable insights into potential market reversals. These formations indicate a shift in market sentiment and offer signals for possible trend changes. Inferences from Breakaway Patterns - Shift in Momentum: A bullish breakaway candlestick pattern suggests that bearish momentum is weakening, and buyers are gaining control. Conversely, a bearish breakaway indicates that bullish momentum is fading and sellers are taking over. - Market Sentiment: The appearance of the final large candlestick signifies a strong sentiment shift. In bullish formations, it shows increasing buyer confidence, while in bearish formations, it highlights growing seller dominance. - Potential Entry and Exit Points: Traders often use these formations to identify potential areas for entries, aligning with broader market analysis and risk management plans. Key Considerations - Context Matters: Breakaways are more reliable when they occur after a well-established trend. Identifying the prevailing trend's strength and duration may enhance their validity. - False Signals: Not all breakaway patterns result in significant reversals. Market conditions, news events, and broader economic factors can influence outcomes, so it's crucial to consider these elements. - Confirmation: Waiting for the fifth candle to complete is essential. Premature conclusions based on incomplete patterns can lead to inaccurate interpretations. Applying the Breakaway Pattern in Trading Strategies Incorporating the breakaway pattern into trading strategies involves looking for additional confluence, using momentum indicators, and employing sound risk management practices. Additional Confluence Traders look for other factors to confirm the validity of the pattern: - Shift in Fundamentals: A significant news event or change in economic conditions can support its signal. - Support and Resistance Levels: The pattern may be more reliable if it occurs near key support or resistance levels, indicating a stronger potential reversal. - Volume Analysis: Increased trading volume during the subsequent reversal adds credibility. Using Momentum Indicators Momentum indicators can provide further confirmation: - Average Directional Index (ADX): ADX is commonly used to identify the strength of the trend. Low numbers coinciding with the pattern strengthen the signal of a trend change. - Commodity Channel Index (CCI): As the breakaway formation often appears at the end of a trend, CCI might show that the price is overbought (bearish breakaway) or oversold (bullish breakaway), supporting the reversal. - Momentum: Divergences between price action and the indicator can be powerful confirmation tools, indicating a potential reversal. Entries and Risk Management Traders typically enter a trade once the price closes beyond the high (bullish) or low (bearish) of the first candle in the pattern. Some traders might wait for an additional candle to confirm the reversal. Stop Losses Placing stop losses just beyond the high (for bearish) or low (for bullish) of the formation helps potentially manage risk. Profit Targets Profit targets might be set using several methods: - Risk/Reward Ratio: At a favourable ratio, such as 2:1 or 3:1. - Support and Resistance Levels: Targeting the next significant support or resistance area where a reversal might occur. - Technical Indicators: Exiting based on signals from indicators, such as RSI crossing into the overbought territory after a bullish entry. The Bottom Line Understanding and applying breakaway patterns can potentially enhance trading strategies by providing early signals of trend reversals. For traders looking to implement these techniques, opening an FXOpen account offers a robust platform to explore this and other advanced trading strategies. FAQs What Is the Bullish and Bearish Breakaway Pattern? The bullish and bearish breakaway patterns are five-candle formations in technical analysis that signal potential trend reversals. A bullish breakaway occurs at the end of a downtrend and indicates a possible shift to an upward trend, characterised by a sequence of weakening bearish candles followed by strong bullish ones. Conversely, a bearish breakaway appears at the end of an uptrend, suggesting a shift to a downward trend, marked by diminishing bullish candles followed by decisive bearish ones. What Is the Bullish Reversal Candlestick Pattern? It is a formation in technical analysis that signals a potential shift from a downtrend to an uptrend. It typically occurs at the bottom of a downtrend and is characterised by single or multiple candlesticks indicating that buying pressure is increasing, suggesting that the asset's price may start to rise. Common examples include the hammer, bullish engulfing, and morning star patterns. What Is the Bearish to Bullish Reversal? The bearish to bullish reversal is a shift in market sentiment where the trend changes from downward to upward. This indicates that selling pressure is decreasing and buying pressure is increasing, suggesting a potential rise in the asset's price. This reversal can be identified through various technical analysis tools that signal the end of a downtrend and the beginning of an uptrend. *At FXOpen UK and FXOpen AU, Cryptocurrency CFDs are only available for trading by those clients categorised as Professional clients under FCA Rules and Professional clients under ASIC Rules, respectively. They are not available for trading by Retail clients. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
NASDAQ:TSLAEducation
by FXOpen
2
MYRO/USDT Hit TP @ 0.035060, Update 30/03/2024MYRO/USDT nicely hit TP @ 0.035060 & brought for us a nice profits! ;) G-Money's short version analysis based purely on technical analysis only, no nonsense or "BS": Stop Loss (SL): @ 0.19858 USDT Entry Point: @ 0.24852 USDT Take Profit (TP): @ 0.035060 USDT PS: ( 1 ) Remember: recommended re-enter area is between Stop Loss (ST) & Entry Point. ( 2 ) If price went half way between Entry Point & Take Profit (TP), be patient please & wait for price retracement to ( 1 )- EP-SL area or for the next new set up ;) Congratulations to all traders with healthy profits again! ;)
by G-money2022
1INCH-USDT BUY Update 29/03/2024G-Money's short version analysis based purely on technical analysis only, no nonsense "BS": Stop Loss (SL): -0.6247 USDT Entry Point: -0.5381 USDT Take Profit (TP): 0.4946 USDT PS: ( 1 ) Remember: recommended re-enter area is between Stop Loss (ST) & Entry Point. ( 2 ) If price went half way between Entry Point & Take Profit (TP), be patient please & wait for price retracement to ( 1 )- EP-SL area or for the next new set up ;) A pretty unique situation, than market or institutional traders if you like, do try bring price to the Entry Point area for the next buy long/cash out run...If my guess is right, that area would be @0.5330 . BTW...TP level still remains not "broken" & setup still valid ;)
by G-money2022
XAUUSD⚡️FOMC Minutes eyed⚡️❤️MY FOREX TEAM❤️ INFORMATION Gold price (XAU/USD) holds above $2,000 during the early Asian session on Monday. US economic data suggests inflation is stickier than expected and prompted financial markets to dial back expectations that the Federal Reserve (Fed) would start cutting interest rates in June. At press time, the gold price is trading at $2,014, gaining 0.12% on the day. 💲BUY GOLD 1980-1985 💲 SL @ 1977 TP 1 @ 1990 TP 2 @ 1998 TP 3 @ 2009 💲SELL GOLD 2027-2030 💲 SL @ 2035 TP 1 @ 2020 TP 2 @ 2010 TP 3 @ 2000 Everyone success..👍👍👍 ❤️MY FOREX TEAM - Technical Analysis Technical indicators SMA | EMA | MACD | SAR | VWAP | RSI | MARKET TREND | NEWS ❤️NOTE XAU/USD holds above $2,000, PBOC rate decision, FOMC Minutes eyed ❤️MONEY CAPITAL MANAGEMENT ⚡️ Only Trade With Risk Capital ⚡️ Cut Losses Short, Let Profits Run On ⚡️ Avoid Using Too Much Leverage ⚡️ Avoid Taking Too Much Heat ⚡️ Do Not Give in to Greed ⚡️ Take profit equal to 4-6% of your capital ⚡️ Stop lose equal to 2-3% of your capital
FOREXCOM:XAUUSDShort
by My_Forex_Team
2
Beautiful breakout Weekly chart analysis 1) my Target 1280-1300 2) stock beautiful breakout 980 resistance 3) now stock may face sentimental resistance of 1000 4) when it sustain above sentimental resistance 5) it can go as my 🎯 6) keep Stop loss of 850 7) manage quantity for better results 8) symmetrical triangle breakout in stock 9) good volume build-up in stock 10) we not recommend any stock and this stock also, I'm trying to show case my knowledge in yours 11) risk is yours I'm not responsible for any stock buying and selling
NSE:PAYTM
by investigationofchart
Never Say Die Stock - "Data Patterns"Data Patterns is a vertically integrated defense and aerospace electronics solutions provider catering to the indigenously developed defense products industry. The company has proven in-house design & development capabilities and experience of more than three decades in the defense and aerospace electronics space. They have clients like ISRO, DRDO & HAL etc. Reserves to Borrowing ratio is also attractive. Source - Screener.in. If it crosses 1440 level, it may give us a new high. This is a study purpose chart & NOT a By call or recommendation!
NSE:DATAPATTNSLong
by Saishayu_Option_Scalpers
XAUUSD > The Best Place for A Buy Entry!!Analysis of #XAUUSD Hi traders, today we will have a look at #GOLD Looking at the chart you can see we have a very classic uptrend, you can clearly identify the uptrend and the trendline support also we have a structure support zone near 1870 If you remember my last Idea at gold which also went out to hit the projected TP1 and TP2 targets, I will post the link below this idea so you can check This one is just similar to the previous idea but here we have a strong uptrend and the right move is to buy and not sell, I am waiting for the market to drop to trendline support and structural support and Fibonacci 681 all lining up in one zone drop on the lower time frame look for confirmation to get in a buy I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one Thanks for your continued support!
OANDA:XAUUSD
by TheTradersAvenue
13
USDCAD > Confirmed Bearish HS, Looking for Short EntryAnalysis of #USDCAD Hi traders, today we will have a look at #USDCAD The USDCAD formed a confirmed bearish head and shoulder pattern, for me this is a valid reversal head and shoulder pattern ;), since we have a confirmed break out of the neckline I am only looking for a sell entry now. As you can see on my chart, i am looking to sell at the right shoulder level where i have fib 38 golden levels, also key market level 1.3500 sharp, all will make a good level to start looking for a sell entry I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one Thanks for your continued support!
Short
by TheTradersAvenue
22
USDCAD > The Best 2 Places for High Quality Buy!!Analysis of #USDCAD Hi traders, today we will have a look at #USDCAD The USDCAD might be providing a buy entry at previous structure support soon, we can wait for a reversal pattern like the double bottom on the lower time frame to use as a reason to get in a buy entry. if the market doesn't provide a reason to get in buy at the first level, I will still be looking for a buy entry near trendline supports you can see on my chart, the same thing we can wait for the double bottom at trendline support that meets the rules before getting in a buy trade Personally, i prefer to buy at the send place, but i will see what the market provides. I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one Thanks for your continued support!
Long
by TheTradersAvenue
10