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Classicalcharting

ARPA/USDT WCA - Rectangle Pattern as a Reversal Introduction: Hello and thank you for taking the time to read my post. Today, we analyze the ARPA/USDT chart on the weekly scale on the Binance exchange. We focus on a classic price pattern called the "Rectangle Pattern," which serves as a reversal indicator in this particular case. Rectangle Pattern: The rectangle pattern is a consolidation pattern that occurs when the price moves sideways within a defined range, creating clear upper and lower boundaries. This pattern suggests that the market is indecisive, and a breakout from the range can lead to a strong move in the direction of the breakout. Analysis: The ARPA/USDT chart shows that the head and shoulders pattern, with its head at the previous all-time high on 01/11/2021, marked the beginning of a downtrend. However, we have now transitioned from a downtrend into a sideways trend characterized by a well-defined rectangle pattern. The upper boundary is at 0.05403, and the lower boundary is at 0.02482. This rectangle pattern serves as a reversal indicator, signaling that a close above the upper boundary could potentially initiate a new uptrend. It is also noteworthy that the price is attempting to move above the 50 EMA, another bullish indication. Being above the 50 EMA typically suggests a bullish environment. Conclusion: The ARPA/USDT weekly chart analysis highlights the rectangle pattern as a reversal indicator. Traders should closely monitor this chart for a breakout above the upper boundary, which could signal the beginning of a new uptrend. Until then, this chart remains a watchlist candidate. Please note that this analysis is not financial advice. Always do your own due diligence when investing or trading. If you found this analysis helpful, please like, share, and follow for more updates. Happy trading! Best regards, Karim Subhieh
by KarimSubhieh
Binance Coin WCA - Ascending Triangle PatternHello and thank you for taking the time to read my post. Today, we analyze the Binance Coin (BNB) chart on the USDT pairing on the weekly scale, focusing on a classic price pattern called the "Ascending Triangle Pattern." Ascending Triangle Pattern: The ascending triangle pattern is a bullish continuation pattern that usually forms during an uptrend. It is characterized by a horizontal resistance line and an upward-sloping support line, representing higher lows. The pattern indicates that the buyers are gradually gaining control as they push the price higher, leading to an eventual breakout above the resistance line. Analysis: The general trend for Binance Coin was bearish since 08/11/2021, with the head and shoulders pattern marking the top. However, from 20/06/2022 onwards, we entered a consolidation movement characterized by an ascending triangle price pattern. This pattern displays multiple touchpoints on the horizontal resistance and two clear wicks as diagonal upward slanting support. All of this occurs above the 200 EMA, suggesting a bullish environment i.e a bullish continuation. Price Targets and Resistance Levels: The price target for this pattern is set at 494, representing a ~46% price increase from the current level. On the way to the target, we may face minor resistance at 453. A breakout above the horizontal resistance line would be a strong signal to enter a trade. Breakout Filter: A breakout filter of 5% helps to avoid false breakouts and premature entries. We will continue to monitor the chart closely for any signs of a breakout. Until then, this trade remains a watchlist candidate. Conclusion: The Binance Coin weekly chart analysis highlights the ascending triangle pattern, indicating the potential for a bullish continuation. As we wait for a breakout above the resistance line, traders should closely monitor this chart and consider proper risk management and position sizing before entering any trade. Please note that this analysis is not financial advice. Always do your own due diligence when investing or trading. If you found this analysis helpful, please like, share, and follow for more updates. Happy trading! Best regards, Karim Subhieh
by KarimSubhieh
Short-Term Trade Opportunity with High Potential RewardIntroduction: In this analysis, we'll look at a short-term trading opportunity based on a H&S continuation pattern. The pattern is already formed, and we're waiting for a breakout over the right shoulder to confirm the continuation. The trade has a high potential reward, with a price target of 34250, and a manageable risk with a stop loss at 28835. Chart Analysis: As we can see from the chart, the pattern has formed a classic H&S shape, with the left shoulder, head, and right shoulder. The neckline is also clearly defined, and the price has tested it several times without breaking it. However, we're not looking for a reversal here, but a continuation of the previous uptrend. That's why we're waiting for a breakout over the right shoulder, which would indicate that the buyers are still in control and willing to push the price higher. We've marked the breakout level with a red dashed line, and we can see that it's close to the resistance level at 30317. If the price breaks above this level, it will confirm the strength of the breakout and increase the probability of reaching our price target. Which it did, so we're in right now. Risk Management: Every trade involves risk, and we need to manage it properly to avoid large losses. In this case, we're placing our stop loss at 28835, which is below the neckline and the right shoulder. If the price falls below this level, it would invalidate the pattern and signal a potential reversal. We should also consider the position size and the leverage we use, depending on our risk tolerance and trading strategy. It's important to never risk more than we can afford to lose and to have a plan in case the trade doesn't go as expected. Conclusion: Overall, we have a short-term trading opportunity based on a well-defined pattern with a high potential reward and manageable risk. The breakout level and the resistance level at 30317 are important levels to watch, and we should be prepared to act quickly if the price shows signs of strength or weakness. Remember to always do your own analysis and never rely solely on someone else's opinion. No financial advice here, just sharing an idea. Happy trading!
COINBASE:BTCUSDLong
by KarimSubhieh
PPG Industries WCA - Rectangle Reversal PatternCompany: PPG Industries Ticker: PPG Exchange: NYSE Sector: Materials Introduction: Hello and thank you for taking the time to read my post. Today, we analyze PPG Industries' chart on the weekly scale, focusing on a classic price pattern called the "Rectangle Pattern." PPG Industries is a global supplier of paints, coatings, and specialty materials, traded on the NYSE under the ticker PPG. Classic Rectangle Pattern: The classic rectangle pattern is a chart pattern formed when the price of an asset moves between two parallel horizontal lines, representing support and resistance levels, over a period of time. It reflects a consolidation phase where the market is undecided about the direction of the trend and can serve as a reversal or continuation pattern depending on the context. Analysis: PPG Industries offers an excellent example of a rectangle pattern serving as a reversal pattern. The overall trend has been bearish since 07/06/2021, with the rectangle emerging as a consolidation pattern during this period. This 399-day-old pattern demonstrates clear touchpoints on both the lower and upper boundaries, which are situated at 107 and 138, respectively. Recently, the price broke out of the rectangle and is now retesting the multi-month resistance-turned-support, suggesting a potential trend reversal. All of that happens above the 200 EMA. Price Targets and Resistance Levels: The price target for this pattern is set at 168.55, which translates to a 22.13% increase from the current level. On the way to the target, we may encounter resistance at a supply zone near 168, which should be monitored closely. Conclusion: The PPG Industries weekly chart showcases a textbook example of the rectangle reversal pattern, indicating a potential trend change from bearish to bullish. As the price has broken out of the rectangle and is currently retesting the former resistance as support, traders should keep a close eye on the development of this pattern. Remember to consider risk management and proper position sizing when trading based on chart patterns. Please note that this analysis is not financial advice. Always do your own due diligence when investing or trading. If you found this analysis helpful, please like, share, and follow for more updates. Happy trading! Best regards, Karim Subhieh
NYSE:PPGLong
by KarimSubhieh
Marsh & McLennan Companies (MMC) Weekly Chart AnalysisCompany: Marsh & McLennan Companies Ticker: MMC Exchange: NYSE Sector: Financial Services Introduction: Hello and thank you for taking the time to read my post. Today, we analyze the Marsh & McLennan Companies (MMC) chart on the weekly scale, focusing on a classic price pattern called the "Rectangle Pattern." Marsh & McLennan Companies is a global professional services firm operating in the financial services sector, traded on the NYSE under the ticker MMC. Classic Rectangle Pattern: The classic rectangle pattern is a chart pattern formed when the price of an asset moves between two parallel horizontal lines, representing support and resistance levels, over a period of time. In essence, it reflects a consolidation phase where the market is undecided about the direction of the trend. Analysis: In the case of MMC, we find a textbook example of a rectangular formation, with several points of contact to the upper and lower boundary. The resistance was at 177.32 and the support at 146.73. The price pattern has formed for 497 days, and now, for the first time, a weekly candle has closed above the resistance level of 177.32. The price is currently retesting the resistance as support, which provides an ideal entry opportunity. The price is clearly above the 200 EMA, implying a bullish environment. Additional Analysis: With the breakout above the resistance level, we should closely monitor MMC's price action for confirmation that the breakout is genuine and not a false breakout. A successful retest of the 177.32 level as support could signify that the breakout is valid, and we may expect the price to move towards the target at 203.53, which represents a ~15% price increase. Conclusion: The Marsh & McLennan Companies (MMC) weekly chart showcases a classic Rectangle Pattern, reflecting a consolidation phase in the market. A breakout above the resistance level and a successful retest as support indicate a bullish scenario. By closely monitoring the price action and support and resistance levels, traders can be better prepared for any potential price action in the future. As always, it's essential to consider risk management and proper position sizing when trading based on chart patterns. Please note that this analysis is not financial advice. Always do your own due diligence when investing or trading. If you found this analysis helpful, please like, share, and follow for more updates. Happy trading! Best regards, Karim Subhieh
NYSE:MMCLong
by KarimSubhieh
SSE Composite Index WCA - Classic Rectangle Introduction: Hello and thank you for taking the time to read my post. Today, we analyze the SSE Composite Index on the weekly scale, focusing on a classic price pattern called the "Rectangle Pattern." The SSE Composite Index is the most important stock index in China, excluding Hong Kong. It is a price index weighted by market capitalization and includes all public companies listed on the Shanghai Stock Exchange. The index is published by the China Securities Index Company. Analyzing an index helps enormously with top-down approaches, as it provides a broader perspective of the market and allows investors to gauge the overall sentiment before diving into individual stocks. Rectangle Pattern: The rectangle pattern is a chart pattern formed when the price of an asset moves between two parallel horizontal lines—representing support and resistance levels—over a period of time. In essence, it reflects a consolidation phase where the market is undecided about the direction of the trend. Remember, this is just a brief introduction to the technical aspects of the rectangle pattern. As you delve deeper into this topic, you'll discover more nuances and practical applications that can enhance your trading strategies. Additional Analysis: On the SSE Composite Index chart, we can observe some fascinating insights. The general trend was downward until 25/04/2022, which changed with the formation of a hammer. Since then, the price has been bound within a range, which is depicted as a classic rectangle pattern. This pattern has been forming for 423 days, which is notable because the longer a pattern remains consistent, the higher the probability that the subsequent breakout will be volatile. The support of the range is at 2890, while the resistance is at 3400. Currently, the price is above the 200 EMA, making a long entry more attractive. We will closely monitor the price pattern and wait for a break above 3400 while examining the sectors or stocks from the SSE Composite Index more closely. The next potential resistance after 3400 would be 3720. Top-Down Approach Significance: A top-down approach is a method that investors use to analyze the market, beginning with a broad overview and then narrowing down to individual stocks. This method helps investors identify the overall market sentiment and trends, allowing them to make more informed decisions when selecting stocks within specific sectors or industries. Analyzing the SSE Composite Index, as shown in this post, provides a valuable starting point for investors looking to employ a top-down approach in their decision-making process. Conclusion: The SSE Composite Index weekly chart showcases a classic Rectangle Pattern, reflecting a consolidation phase in the market. By closely monitoring the support and resistance levels, as well as the general trend, traders can be better prepared for any potential price action in the future. Utilizing a top-down approach enables investors to gain a broader perspective and make more informed decisions when selecting stocks. As always, it's essential to consider risk management and proper position sizing when trading based on chart patterns. Please note that this analysis is not financial advice. Always do your own due diligence when investing or trading. If you found this analysis helpful, please like, share, and follow for more updates. Happy trading! Best regards, Karim Subhieh
SSE:000001
by KarimSubhieh
2
Hang Seng Index (HSI) WCA - Inverted Head and Shoulders PatternHello and thank you for taking the time to read my post. Today, we analyze the Hang Seng Index (HSI) on the weekly scale, focusing on a classic price pattern called the "Inverted Head and Shoulders Pattern." The Hang Seng Index is the leading stock index in Hong Kong and one of the most important in Asia. It tracks the share prices of the 50 largest and most traded companies on the Hong Kong Stock Exchange, representing about 57% of the total market capitalization on this exchange. Inverted Head and Shoulders Pattern: The inverted head and shoulders pattern is a bullish reversal pattern that occurs at the end of a downtrend. It is characterized by three troughs or valleys, with the middle one being the lowest (the head) and the two on either side being relatively higher (the shoulders). The pattern is completed by a horizontal line called the "neckline," which connects the highs of the shoulders. In a nutshell, the formation of the inverted head and shoulders pattern signals a potential reversal from a downtrend to an uptrend. Remember, this is just a brief introduction to the technical aspects of the inverted head and shoulders pattern. As you delve deeper into this topic, you'll discover more nuances and practical applications that can enhance your trading strategies. Additional Analysis: Upon analyzing the HSI weekly chart, we observe a downward trend since 16/02/2021, with the blue diagonal resistance line representing the general trend. As classic chart pattern analysts, our attention is immediately drawn to the textbook example of an inverted head and shoulders pattern, clearly defined with the left shoulder, head, and right shoulder. The symmetry between the shoulders is perfect, and the pattern has been forming for an impressive 491 days. This is noteworthy because the longer a price pattern remains consistent, the more powerful the eventual breakout will be. We cannot predict when the right shoulder will form and break out, but we can see that the price supports the symmetry line in the form of a bullish engulfing (orange mark). The price is currently still below the 200 EMA, which is another indication that we should continue to watch this price pattern closely and not jump to conclusions. Thus, we patiently await our opportunity. Conclusion: The Hang Seng Index (HSI) weekly chart showcases an Inverted Head and Shoulders Pattern, reflecting a potential reversal from a downtrend to an uptrend. By closely monitoring the pattern's intricacies and the market's subtle cues, traders can be better prepared for any potential price action in the future. As always, it's essential to consider risk management and proper position sizing when trading based on chart patterns. Please note that this analysis is not financial advice. Always do your own due diligence when investing or trading. If you found this analysis helpful, please like, share, and follow for more updates. Happy trading! Best regards,
HSI:HSI
by KarimSubhieh
Crypto Total Market Cap - Daily Chart Analysis (DCA) Hello and thank you for taking the time to read my post. Today, we analyze the Crypto Total Market Cap chart on the daily scale, which represents the combined capitalization of the entire cryptocurrency market. This chart often provides clearer and more reliable signals, possibly due to the fact that it cannot be traded directly. As we delve into the classic price patterns present on this chart, make sure to get comfortable and follow along as we progress from left to right, examining the most recent price patterns. Analysis: Starting with a 245-day descending triangle, we can see that it has already broken out. The breakout target is illustrated on the chart and is still in progress. Within this ascending triangle, we witnessed a few smaller price patterns, such as a bearish continuation pattern in the form of a descending triangle and a bullish reversal pattern as a rectangle, which led to the breakout. Since then, an uptrend has emerged, and the price has successfully surpassed the 200 EMA and maintained its position above it. Currently, we're observing the latest price pattern, a head and shoulders formation. Given its position, it appears to be a continuation pattern, as it's neither at the top nor the bottom. At 47 days old, it's possible that the right shoulder is still forming. The price is holding remarkably well above the neckline, indicating strong support at this level. While we cannot predict the direction of the breakout, the stronger the support, the higher the likelihood of a bullish continuation. Conclusion: This leads us to our price target. To determine this, we take the height of the price pattern and add it to the potential breakout point of the right shoulder. The resulting target can be seen on the chart. If this scenario plays out, we can anticipate a higher market capitalization for the entire crypto market, which is a positive development for the industry. In conclusion, the Crypto Total Market Cap daily chart presents various classic price patterns that can provide valuable insights for traders and investors. Monitoring these patterns and the overall market trend can help market participants make informed decisions and better prepare for potential price action. Please note that this analysis is not financial advice. Always do your own due diligence when investing or trading. If you found this analysis helpful, please like, share, and follow for more updates. Happy trading! Best regards, Karim Subhieh
CRYPTOCAP:TOTAL
by KarimSubhieh
ALPHA/USDT WCA - Inverted Head and Shoulders PatternHello and thank you for taking the time to read my post. Today, we analyze the ALPHA/USDT chart on the weekly scale, focusing on a classic price pattern called the "Inverted Head and Shoulders Pattern." Inverted Head and Shoulders Pattern: The inverted head and shoulders pattern is a bullish reversal pattern that occurs at the end of a downtrend. It is characterized by three troughs or valleys, with the middle one being the lowest (the head) and the two on either side being relatively higher (the shoulders). The pattern is completed by a horizontal line called the "neckline," which connects the highs of the shoulders. In a nutshell, the formation of the inverted head and shoulders pattern signals a potential reversal from a downtrend to an uptrend. Remember, this is just a brief introduction to the technical aspects of the inverted head and shoulders pattern. As you delve deeper into this topic, you'll discover more nuances and practical applications that can enhance your trading strategies. Additional Analysis: As we carefully study the ALPHA/USDT weekly chart (Binance), a diagonal resistance line (blue) emerges, which began on 01/02/2021 and has been acting as a staunch barrier ever since. Another key observation is the 50 EMA still displaying its resistance role, indicating that we should focus on observing rather than trading. The neckline, a vital element of this pattern, has formed in the price area of 0.1831 and is now 350 days old, which corresponds to 11.5 months. This insight is crucial as the longer a price pattern consolidates, the more forceful the breakout will be when it eventually occurs. The near-perfect symmetry between the shoulders adds an artistic touch to the pattern, and we can also observe positive momentum in the form of a bullish engulfing above the symmetry line. For intrepid traders, this could represent an early entry opportunity, with the stop-loss positioned at the symmetry line. However, we advocate waiting for a breakout above the neckline, as the resistance is undoubtedly formidable. In this case, patience is truly a virtue. Thus, this pattern is more suited as a watchlist candidate than an active trade to enter at this time. Conclusion: The ALPHA/USDT weekly chart showcases an Inverted Head and Shoulders Pattern, reflecting a potential reversal from a downtrend to an uptrend. By closely monitoring the pattern's intricacies and the market's subtle cues, traders can be better prepared for any potential price action in the future. As always, it's essential to consider risk management and proper position sizing when trading based on chart patterns. Please note that this analysis is not financial advice. Always do your own due diligence when investing or trading. If you found this analysis helpful, please like, share, and follow for more updates. Happy trading! Best regards, Karim Subhieh
by KarimSubhieh
Chainlink (LINK) WCA - Classic Rectangle PatternHello and thank you for taking the time to read my post. Today, we analyze the Chainlink (LINK) chart on the weekly scale, focusing on a classic price pattern called the "Rectangle Pattern." Classic Rectangle Pattern : The classic rectangle pattern is a chart pattern formed when the price of an asset moves between two parallel horizontal lines—representing support and resistance levels—over a period of time. In essence, it reflects a consolidation phase where the market is undecided about the direction of the trend. To confirm the validity of this pattern, you typically need a minimum of two touching points at both the support and resistance levels. However, more experienced traders prefer to see at least three touching points on each level, as it increases the reliability of the pattern. Remember, this is just a brief introduction to the technical aspects of the classic rectangle pattern. As you delve deeper into this topic, you'll discover more nuances and practical applications that can enhance your trading strategies. Additional Analysis : Chainlink serves as a perfect example of the classic rectangle pattern. We have a clear upper horizontal line at 9.475 and a lower horizontal line at 5.534, between which the price moves. The price has remained stable within this range for 357 days, equivalent to 11.737 months. This information is valuable because the longer an asset stays within a range, the more volatile the subsequent breakout will be. Additionally, we see several touch points marked in orange, further validating the pattern. A blue diagonal resistance line demonstrates the general trend, which is currently directed downwards. The price is currently below the 200 EMA, which is another indication to watch rather than actively look for long positions. This suggests a cautious approach for traders, as the market is still showing signs of weakness. Once we have a breakout from this rectangle, it could be swift and accompanied by significant volatility. As always, we cannot know when the price will break out of this nicely defined zone, but we have a good idea for the future and will be less surprised when we see a breakout, no matter in what direction. Traders should closely monitor the support and resistance levels, as well as the general trend, to be better prepared for any potential price action. Conclusion : The Chainlink (LINK) weekly chart showcases a classic Rectangle Pattern, reflecting a consolidation phase in the market. By closely monitoring the support and resistance levels, as well as the general trend, traders can be better prepared for any potential price action in the future. As always, it's essential to consider risk management and proper position sizing when trading based on chart patterns. Please note that this analysis is not financial advice. Always do your own due diligence when investing or trading. If you found this analysis helpful, please like, share, and follow for more updates. Happy trading! Best regards, Karim Subhieh
by KarimSubhieh
ANKR (ANKR) WCA - Inverted Head and Shoulders PatternHello and thank you for taking the time to read my post. Today, we analyze the ANKR chart with the ticker ANKR/USDT on the weekly scale, focusing on a classic price pattern called "Inverted Head and Shoulders." Inverted Head and Shoulders Pattern: This pattern consists of three parts, always in the same order: the left shoulder, the head, and the right shoulder. These can be sharp or rounded. Ideally, the shoulders should have symmetry, which makes the pattern easier to identify. The bottoms between the troughs form a recognizable trend line. Additionally, we have a trendline called the neckline, which acts as the current resistance line. Technicians refer to this line as the neckline. Ideally, the neckline should be horizontal. Chart Analysis: Upon examining the ANKR (ANKR) price chart, we can clearly see that this classic price formation is taking shape. The neckline can be found in price terms at 0.04881. The formation can span from weeks to months, making this more of a watch-list candidate than a direct trade. Moreover, the weekly 50 EMA is also moving downwards and is clearly rejecting the price, providing yet another reason to observe rather than to trade at this time. The pattern exhibits the necessary criteria and symmetry between the lines. Although we cannot predict when or if the price pattern will break out, we can certainly prepare for it. Conclusion: The ANKR (ANKR) weekly chart showcases a classic Inverted Head and Shoulders pattern with a neckline at 0.04881. Although the exact timing of a breakout remains uncertain, the pattern provides valuable insights into potential market movements. By closely monitoring the neckline and the downward trending weekly 50 EMA, which is rejecting the price, traders can be better prepared for any potential price action in the future. As always, it's essential to consider risk management and proper position sizing when trading based on chart patterns. Please note that this analysis is not financial advice. Always do your own due diligence when investing or trading. If you found this analysis helpful, please like, share, and follow for more updates. Happy trading! Best regards, Karim Subhieh
by KarimSubhieh
2
GBPAUD, Long possibilityWe are at a point which we can consider end of a correction (rectangular structure). So, basically what we should do next week is as follows: 1st: We seek for a green candle, which we can consider as a go-long-trigger, on 1h chart in order to open a long position. (or another trigger that you, yourself use in your own trades.) 2nd: The top of our gray rectangular structure is our 1st tp basically. although, there is a good chance that price go through it. you can manage it as you seem fit for yourself. cheers!
Long
by HunkIsHere
supply zonePrice at the supply zone and in cp(feshordeghi) ---- Prices in supply areas and in cp (compression) reaction to the trend line and the latest bull candle show market decision RSI Divergence DONT FORGET DOWN TREND! ------------- I decided to put live chart tutorials and tips on my page so you can analyze the market accurately. Join me to see the rest of the analysis in the future -------------------------------------------------------------------------- If you have any questions, you can write it in comments below, and I will answer them. And please don't forget to support this idea with your like and comment, thank you.
OANDA:XAUUSDLong
by danial_ahmadi
1
TD Sequential and Classic Fib Retracement to 0.382 on DailyTD sequential has counted 9 consecutive bars downward on the daily, this typically is indicating a retracement is about to take place. When measuring the highest high to the lowest low on the daily's down trend this becomes a textbook Fibonacci retracement to the 0.382 level. Further supporting evidence to support this theory is the rejection of the downward movement past 1.24500. When moving upward there is a strong support level at 1.26100, I will be looking for a short opportunity at this level. I am long on USDCAD because of this upcoming correction followed by a short at the psychological level of 1.26100 This is not Financial advice.
Long
by diazfranj