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Chartpatterntrading

NVDA: Incredibly Bullish!• NVDA is very bullish, and it seems it wants to hit its next resistance at $289; • As seen in the weekly chart, there’s no top sign nor weakness signs indicating that it could correct from here; • What’s more, NVDA triggered an IH&S chart pattern in January, and it did an upwards breakout from the Descending Channel (purple lines) it was trapped inside; • Could NVDA correct from here? Yes, and a pullback to its 21 ema would be acceptable, as the last time we hit it was a couple of months ago. However, in order for a pullback to materialize, we must see a reversal pattern in the daily chart: • In the daily chart we see nothing but a series of higher highs/lows, above the 21 ema – An incredibly strong bull trend; • We would need to see a clear bearish structure, like a lower high/low, a top/reversal chart pattern like a Double Top, H&S, etc. So far, there isn’t any meaningful bearish sign; • In this scenario, NVDA could trigger a sharper correction, and maybe even fill the gap at $210 (which is very close to the 21 ema in the weekly chart, by the way); • However, even if NVDA does a correction of this magnitude, it wouldn’t ruin the bull trend seen in the weekly chart, only in the daily chart; • I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis!
NASDAQ:NVDA
by Nathan_The_Finance_Hydra
6
Symmetrical Triangle on USD/CAD @ D1Following a long-term uptrend wave, the USD/CAD currency pair consolidated into a symmetrical triangle pattern on the D1 timeframe. It can now be used as a continuation breakout setup. My potential entry will be placed at the cyan line, which is located at 10% of the triangle's base width above the upper border. My take-profit will be at the green line, which is located at 100% of the triangle's base width above the upper border. I will set my stop-loss to the triangle's lower angle (1.35990). I will ignore bearish breakouts from this trend continuation pattern.
Long
by AndriyMoraru
📊 Diverse Chart ApproachesHere is a diverse chart approach for trading that includes some tips: 📍 Use multiple timeframes: Analyzing charts at different timeframes (e.g., daily, weekly, monthly) can provide a broader perspective on market trends and potential trading opportunities. 📍 Combine chart types: Using different types of charts, such as line, bar, and candlestick charts, can provide different insights into price action and help identify support and resistance levels. 📍 Apply indicators: Technical indicators, such as moving averages and oscillators, can be applied to charts to identify potential entry and exit points, as well as confirm price trends. 📍 Incorporate chart patterns: Chart patterns, such as triangles, flags, and head and shoulders, can be used to identify potential price breakouts and reversals. 📍 Use trendlines: Drawing trendlines on charts can help identify potential areas of support and resistance, as well as indicate trend direction. 📍 Keep it simple: While it's important to use a diverse range of charting techniques, it's also important not to overload charts with too much information. Keeping charts clean and easy to read can help avoid confusion and lead to more effective trading decisions. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
3
MSFT - Falling Trend [MIDTERM]- MSFT has broken the ceiling of the falling trend in the medium long term, which indicates a slower initial falling rate. - MSFT has broken up through resistance at 257. - This predicts a further rise. - Positive volume balance indicates that buyers are aggressive while sellers are passive, and strengthens the stock. - MSFT is overall assessed as technically positive for the medium long term. *EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut loss, TF: Time Frame, RST: Resistance, LT TP: Long term target price
NASDAQ:MSFTLong
by wavepoint99
Jumping on a Bullish Opportunity, Analysis to Possible BuyHello Traders! When looking at the EURUSD chart, we can see that there is a demand zone inside a beautiful long candle wick on the 4-hour timeframe. This demand zone is lining up with a strong trend line support level near 1.05500, which makes it a possible buy opportunity. To enter this setup, we can wait for a confirmation on a lower timeframe, such as the 1-hour or 30-minute chart. We can also set a limit order at the demand zone level to enter the trade automatically. It's important to always have a risk management plan in place before entering any trade. This can include setting a stop loss at a reasonable level and taking profits at a predetermined target. Overall, it looks like there could be a possible buy opportunity on EURUSD, but as always, it's important to do your own analysis and make informed decisions. Happy trading! Don't forget to boost and comment if you found this analysis helpful. Jumping on a Bullish Opportunity, Analysis Points to Possible Buy Entry
by TheTradersAvenue
2
TSLA: Losing Momentum (For Now).• TSLA stock is stabilizing, trading between its key support and resistance levels; • The key support is the 38.2% Fibonacci’s Retracement again. Most of the time, when TSLA loses the 38.2% retracement after bouncing above it for a while (like in this case), the 61.8% retracement becomes the next target – usually it ignores the 50% when this happens; • What’s more, the 61.8% coincides with the Earnings Gap (blue square) at $146, making this area a very interesting target to work with; • In order to avoid such a bearish scenario, TSLA would have to react as soon as possible, and break its key resistance area around $187; • The $187 is the neckline of the H&S chart pattern that TSLA triggered last week, and it is very close to the 21 ema as well; • I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
4
TSLA: About to Bounce.• TSLA is reacting now that it hit its 38.2% Fibonacci’s Retracement; • This is expected, but TSLA is still in a bear trend, and there’s no bullish reversal structure on it yet; • In the 1h chart, it is inside a Descending Channel (trying to break it this morning), while in the daily chart, it triggered an H&S chart pattern; • In theory, a pullback to the neckline is acceptable, which is at $187, exactly where the 21 ema is today, making this area a dual-resistance level; • The 38.2% retracement is our key support, and in order for TSLA to resume the bearish momentum, it’ll need to break it again. Right now, we are between two important key points. Let’s see how TSLA will react from here. Remember to follow me to keep in touch with my daily analysis!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
4
SPX: Crashing! How Low Can It Go?• The SPX lost two important support levels last week. First, the 3,885, a key point that worked as a support a few times this year. Second, the baseline of a Descending Channel; • Meaning, the trend was already bearish, now the index is just crashing; • There’s no meaningful bullish reaction indicating that a bottom is near; • Even if the index reacts today, the problem is that the previous support levels, the 3,885 and the baseline of the Descending Channel, are now resistance levels, and any bearish sign under this resistance would mean an opportunity to sell. Now, let's take a look at the weekly chart: • In theory, the SPX is looking for its next support, which is at 3,773, and that's the next technical target in the daily chart. Long-term speaking, if the index loses this support, it would trigger a kind of Double Top chart pattern in the weekly chart, indicating that it could seek the 3,500 next. Remember to follow me to keep in touch with my daily analysis!
SP:SPX
by Nathan_The_Finance_Hydra
4