OCEANUSDT wants the Next Weekly structure?OCEANUSDT recently went through an accumulation phase, which took place between the price levels of 0.2982 and 0.1163. After a period of consolidation, the price eventually broke out of this accumulation range and experienced a significant distribution phase.
Currently, the price of OCEANUSDT is testing the weekly support level at around $0.41. This level is a key area of support and resistance and has the potential to signal a shift in market sentiment. It is important to keep a close eye on how the price reacts to this level, as a break below it could indicate further downside movement.
Looking ahead, the market will need to create a new breakout above the $0.5 area for any long continuation to occur. If this happens, we can apply Plancton's Rules, a set of guidelines for identifying potential market movements, to help guide our decision-making and potentially open a new long position.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <= 1h structure.
Follow the Shrimp 🦐
Consolidationpattern
GBPJPY | Perspective for the new weekThe GBP/JPY pair displayed selling pressure during the later part of last week's trading session to retest the temporary bullish trendline in the 4H timeframe. Is the price going to respect or break down the bullish trendline this week?
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
USDJPY | follow-up detailsThis is a follow-up detail on the USDJPY that was published 2 days ago (see link below for reference purposes) where we were expecting the price to retrace to a minimum of 129.1 but It appears the price is finding it difficult to break the support level at 129.500 which shall become our new demand zone if this level continues to hold price action. In this regard, we should be looking for a breakout of a new key level for a bullish signal in the nearest future.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
📈 Triangle consolidation A symmetrical triangle is forming in PDN. We have made the bottom side of this triangle, and it looks like the price is returning now to the upper side. Around quotes of 0.98 AUD should the upper border of the triangle be touched. After breaking the triangle pattern at this point or later, the bullish trend in Paladin Energy Ltd. should continue.
Franklin (FLY) is ready to give breakout - 300% potential profitLooks like KUCOIN:FLYUSDT is ready for trend reversal. I am expecting 300% return after FLY gives breakout from more than 100 days long consolidation. It may move side ways for couple of weeks before breakout, be patient.
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Trading the Range - LCIDClear consolidation over the past 4-5 months even after the merger, decent spread between support and resistance as well. Putting some money to trade the range.
INVH consolidating again before the next move higher?Recently INVH had an explosive break out from the $38 resistance. With tonnes of volume following even after the break.
Now that volume is slowing down, it seems like INVH is in consolidation mode again.
Will it give another leg higher? No one can be sure; but judging from the technical performance $39.50 seems to be support.
Thoughts:
* Volume is relatively calming down
* Seems to be consolidating before the next move higher
Trade idea:
* Look for buying opportunities around the $39.40 to $39.50 area
OR
* Wait for a break and close above $40.20
NZDUSD about to speak its mind soon? Continuation or Reversal?Current pattern resembles a spike and ledge consolidation pattern which can go either direction. I lean towards using it for reversal trades but it can also be a continuation pattern. What's interesting here is that the ledge structure is an ascending triangle. If this is confusing other traders like it is confusing me, we might see more trading range price action going forward. Today's false intra-day breakout above .7240 seems to be evidence of this.
I am forcing myself to be neutral but I do favor a break lower for a potential major trend reversal.
Bitcoin consolidation pattern end gameThe bitcoin price has potentially shown us some new levels for support and resistance levels
We've found support off a multi week trend line which seems to give us new parameters for the consolidation pattern in play, possibly indicating a prolonged consolidation.
This will allow the 20 week moving average to catch up and potentially suppress volatility on a break down.
Still very bullish long term
ZILUSDT making another breakout attempt out of consolidationA bit of momentum on the bulls side might finally push the price higher and out of this descending broadening wedge.
A confirmed break opens up a run to new ATH and into price discovery mode.
BTCUSDT 2nd leg down in progress. Near term levels to watch...Strong pullbacks always have at least 2 legs so I think here it is finally. Recent lows need to hold for the bulls and need to break for the bears.
I have 33,000 as a support, followed by 30,700 (previous bounce area--- check 4HR Chart below).
Salesforce looks strongCRM has consolidated for almost 3 weeks, after gapping down on the news it had acquired Slack (WORK).
Risk reward ratio is around 3.
A potential test of the pre-gap candle lows might be in place before attempting to reach the 50sma, and subsequently the top of the gap.
OBV line has tested and is now respecting the line that was made before the gap higher.
QRVO Momentum Gap by HFTsQRVO recently had a huge High Frequency Trader gap after a compression consolidation pattern. The stock continues to move up with Volume Weighted Average Price orders due to Smaller Funds buying after the gap.
JBHT Challenges Previous HighsJBHT recently formed a resting day consolidation pattern at a resistance high. The stock moved with Professional Traders momentum out of a minor correction.
Bitcoin | Consolidation [Bull Pennant / Bear Flag]Bitcoin is further consolidating in a tight range today.
The immediate pattern it draws is a bull pennant, but the entire structure can also be seen as a another bear flag.
A daily close above the bull pennant structure would be considered bullish, a daily close below 6.4k would be considered bearish.
The red rectangles are areas of major resistance. I assume that the prices wouldn't break above these levels without further consolidation.
Same thing goes for the support levels around 6.2k. The entire 6k area has held throughout the whole year, and I don't think that it'll break today.
The only thing that the RSI reveals is that it's a no trade zone for me.
The weekly SRSI just crossed under, so my gutfeeling is slightly bearish.
RELIANCE short term Positional Call Reliance Industries Trading technical call for short term
CMP: 940, Closing Based SL 899, Targets 970 985 998
For educational purpose only
Consolidation pattern on ACN ?I noticed this consolidation pattern on ACN.
First, I would like to state that I am extremely bullish as an investor on the company. However, this looks like a promising short term trading pattern.
The rough average of these consolidations since 2010 is 15%. A great return. Even the last two corrections (9.5% and 8.5%) were good.
For me there' are too much current uncertainty to neither go long or short but a bullish run up could constitute a short opportunity.
What is your point of view ?
VRC BTC 4H POLONIEXAfter a slight weekend run up in price it appears for the moment we are about to re-enter a consolidation period. With BTC making new highs intra day traders that are looking to go into Fiat at higher BTC prices will be inclined to sell, however those looking to increase their BTC position or VRC position will be seeing the opportunity knock and strike when inclined. This may provide for some interesting intra-day volitility in the next week to ten days, and I completely expect VRC to be looking at new local highs within the next 4-5 weeks after consolidation.
As always, trade your own account. I am not any Market maker or any professional trader, I offer you no delusions of grandeur or false promises. Instead I just share what I see, and what I think.
Aside from the trading aspect, if you are unfamiliar with the Vericoin Project below are some useful resources.
Homepage: www.vericoin.info
Slack: vericoinandveriuminvite.herokuapp.com
Twitter: twitter.com
GIT: github.com
Roadmap English: www.vericoin.info
Roadmap Spanish: www.vericoin.info
Roadmap Chinese: www.vericoin.info
My Twitter: twitter.com
If this has helped you in any way & you are inclined to do so, a small thank you can be sent below every little bit helps us small timers.
BTC: 1um3313w6fJhrfirj9mXz7y2GAm761Tqq
VRC: VHqBcdAjkXVbaxZ7EsXsBzy2LLNyicgzDT
Consolidation Forming within DOW Jones FuturesLooking at the DOW Jones Futures, I noticed a consolidation pattern forming. YM1! has been consolidating for the last two weeks or so, and it's next move in either direction will be a swift and powerful one. Introspectively, I am bearish on US Equities for a platitude of reasons, but I have to remain unaffected by my own personal opinions, and keep them strongly felt, but weakly held.
If you go back and look at past history, you can see that when a market reaches a top, or when a market is in a bubble, there is a last ditch effort and price action higher. How high is impossible to predict. What is possible to predict are the human emotions that cause these inflationary periods at end of bubbles. The end of a bull run is where you have "stupid money" come into the market. Money where friends are hearing from their friends that they're making money and the market is going up like crazy. It's this money that fuels the growth higher and prices even higher.
Because of this, we could very likely see the DOW jump through its initial resistance at 20670, and then venture to try its next resistance at 21155.
Safe to say I'll be watching for both of these scenarios. The probabilities are in line with a short thesis, however, if I am wrong, I hope I am smart enough to take the other side of the trade and ride the stupid money infusion.
All the best,
RC
Breakout trade on CADCHFGood morning traders!
I just got shot this CADCHF on a breakout trade. There is something that I like about this breakout and it is the fact that it lines up with structure looking left too. Meaning that a break of the pattern also means a break of the structure, and that is exactly what happened.
Just got short, little late but on the same price. I will be looking for a test of the next structure level as targets and stops are 1 ATR above breakout candle.
Plan your trades and always trade your plan!
