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Continuationpatterns

BUY ECHO on pullbackECHO has a zacks rank of 1 (strong buy). It pulled back to the 61.8 Fibonacci retracement level on the wick of a bullish candle. It is also consolidating around this price level. it has also closed above the 20sma.There is definitely some historical resistance overhead, however, I believe it can break above this level due to the fact that earnings have been doing well over the past couple quarters. It has experience a strong reversal and has a lot of potential. although this may be true, there is always a possibility of things not going our way so I will continue to move my stop loss up.
ELong
by GoranTrader
God and Bitcoin Conspires against meDO you see this shit? I thought of it while I was about to update one of my ideas. This is a head and shoulder continuation pattern, a very possible one at least. And it is a part of that big inverse head and shoulder pattern, what the hell is this what am I looking at... Only in crypto for real, this is absurd. Okay so outrage aside, this honestly looks like continuation pattern for a bear market and it is a head and shoulder continuation pattern on the macro scale and I am going to break this possible head and shoulder down into the major components of a head and shoulder pattern. 1.) Its huge and there is a divergence of volume on the 4 hour time frame, about 6100 to 6200 appears to be the neckline and the neckline appears to be strong (the bottom of the right and left shoulders of the inverse head and shoulder). 2.) The neckline which can be seen in light blue is horizontal which indicates a weaker uptrend prior or weaker bulls. 3.) Since the left shoulder of the head and shoulder top is the right shoulder of the inverse head and shoulder, I expect the top of the left shoulder (the yellow estimation line) to be close to symmetrical to the right shoulder of this pattern. the right shoulder would not be invalidated until it hits the same price or at least close to the same price as the head, which I doubt would be the case. The higher the right shoulder would indicate bearish weakness. However, if the price of the right shoulder cannot even reach the left shoulder then to me it would indicate a bearish strength. I expect the right shoulder to hit roughly 6850 to 7200. 4.) For this pattern to be complete there needs to be a break out of the neckline on high volume and given the strength of the bears right now I do expect that to occur. 5.) I expect a return move to occur, but it is possible that it does not occur. Key Points: 1.) If this is the case we are fucked for now. 2.) The Price objective of this continuation pattern would be 3800. 3.) At this point there isn't much that can invalidate this pattern from occurring other than a rejection at the neckline and or a strong push beyond the head on the right shoulder. 4.) If a break at 5800 occurs then we are going to blow down to 4800 easily and I suspect there will be pauses between 4800 and 3800. 5.) There will be a major panic sell off. Best of Luck: Trade smart, hedge risk and make some money. Previous Analysis:
BITFINEX:BTCUSD
by CuddlyCuddles
6
EURUSD (Short Position)Whats up Guys - Most of my analysis can be found ON the Chart. I will be entering a short position now with stop and take at the areas indicated. Give me ten likes and I will update the chart when I close out. Ten Likes and I will update the chart Intelligent disagreement welcome Good Luck - See you on the trading floors #Crypto #BTC #cryptocurrency #ADA #CARDANO #LTC #LTCUSD #LitecoinNation #XRPCommunity #XRP #Ripple #EOSUSD #BCH #BITCOINCASH #forex #EURUSD #AUDJPY #GBPUSD #USDCFH -Nix Good luck on the trading floors -
by WillNixTrading
A rare continuation Pattern in BitcoinAfter yesterday's large drop in price, I found a couple of things; however, I do not know if the bullish sentiment has remained, I do believe that because bitcoin has broken 8000 again, there is a chance that the bulls may still have this and that yesterdays' price drop was just drop because of news but not a change in market sentiment. Short term analysis: This the 45 minute chart and there are a series of chart patterns that can occur, and there are 3 highly probable situations, but I only drew two of them. Considering that there was a significant bounce that drove the price up back into the daily bull flag, I wanted to understand what was happening on a micro level, and it looks interesting. 3 Possibilities: 1.) The most likely possibility I believe is the orange line, it is an interesting pattern and it is very rare, it is the inverse head and shoulder continuation pattern. So far, shape wise there would be a vague left shoulder and a prominent head; however, volume does not exactly fit the profile with the second drop being greater than the first, but it is still possible that this plays out like and inverse head and shoulder with another small drop that is similar to the left shoulder before a continuation of the uptrend. However, this is a rare occurrence and the inverse head and shoulder does not usually occur as a continuation pattern. Although the volume doesn't match, I still think that this will play out as an continuation pattern and on the longer time frame, it would still have the appears of a bull flag. 2.) Not drawn in is a movement down to test 7900 once more which I think is still possible, and I do think another strong test of 7900 would put the continuation of the uptrend at risk. 3.) The finial possibility I believe that is likely is a move up from this point because it does appear that bitcoin has made a small pennant in the 45min time frame; however, pennants have a high failure rate (roughly 50%), is it would be in question.
COINBASE:BTCUSD
by CuddlyCuddles
Iteksignal PRO V1 in BTCUSDT 1H chartNew Iteksignal with multiple point of entry with more Continuation Pattern and filters. Iteksignal is based on pure price action. Trend Confirmation Line help you to stay on the trend side (Green/Red line). Short term Trend Line is mainly use for Trailing Stop (White line). Same Setup rules as Classic Iteksignal apply. Indicators Iteksignal signal – Blue or Green letter B or S with an arrow (Red for Sell) Trade Setup Details Iteksignal “Continuation Signal” Continuation Signal Trade is designed to take advantage of price action turning points. It seeks to find near term support and resistance levels and then identifies places on the chart to entry off of, and take profit of the established trend. Iteksignal “Reversal Signal ” Reversal Signal Trade is designed to take advantage of price action turning points. The indicators are designed to show us where the near term support and resistance levels are and to give us a possible entry point. Definitions Signal bar: It is the closed bar where the indicator is plotted (Blue or Red arrows) in the chart. Breakout bar: The bar that closes above an important Resistance/Support level Entry bar: The first bar after the signal bar that reach the high of the Signal bar SETUP ENTRY RULES 1. Wait for the signal bar closes. Enter the trade 1-2 tick above the high of the signal bar. 2. If the high of signal bar is near an important resistance level enter the trade 1-2 tick over resistance (Aggressive entry) or enter the trade 1-2 tick over the high of breakout bar (Conservative entry) To cancel setup If any bar after the signal bar closes below the low of the signal bar, the signal is INVALID and the setup is cancelled.
Long
by iteksignal
Bitcoin: People Giving Up, But Its not OverCurrently, there are a lot of people giving up on Bitcoin, but its not over yet, and here are my reasons. 1.) There was a reversal pattern that took 2 months to develop and in accordance to our rules as traders, we must note that the longer and more volatile a pattern, the more explosive an outbreak is and there are higher chances of it hitting its price objective. The price objective of the inverse head and shoulders is still 7800-7900 and these have an extremely low failure rate. In addition, it took two full months, and it broke through an important trendline. Now I am not saying that bitcoin cannot go down, it most certainly can. But this pause is only several days in comparison to the inverse head and shoulders and people are calling it quits. 2.) This pattern is jacked up so it is hard to tell what the fuck it is, but it is most likely a bull flag and my reason for calling it a bull flag is that it follows the principles of a continuation pattern, First, It occurred on the midpoint of the price move literally, at the midpoint and it has been fluctuating slightly above that mid point which means that there is still bullish momentum. Second, the volume profile has been significantly less than that of the pole of this flag. Third, the bodies of the candle are being pushed with the flag limits, which means there is some aggressive fighting. ITs not over yet, and the fighting is just beginning. Key Points: 1.) A lot of people stopped being fucking traders and stopped looking at the charts and reading the charts with an objective lens. 2.) Currently, it seems more like a bull flag under the two very important trendlines. A successful cross against these trendlines would mean that the down trend is most likely over and that we double bottomed. The first trendline is light blue, it was the previous support of the symmetrical triangle, the purple is the resistance of the symmetrical triangle. I suspect that we could either complete the continuation pattern and move up to hit the price objective of the inverse head and shoulders (The green line), bitcoin can also continue moving sideways (the yellow squiggly line) and get rejected by the purple line of resistance or break the purple line of resistance denoted by the violet lines, one point up resembling a break and one point down resembling a rejection, the price can also go down to retest the neckline roughly at 6800 (I doubt it will even make a move down, but if it does there are several stops that need to be made before reaching the neckline. I drew the possibilities for you guys like a kid with crayons. Notes: Bitcoin can break the trendline on sideways movement, and it would mean that it has become trendless. Several Analyses Ago:
COINBASE:BTCUSD
by CuddlyCuddles
Ethereum re-enters downtrend. Goodbye Ethereum, My salutations.Ethereum has broken through its neckline to the upside in the wake of bitcoin's movement but it has broken to the downside on no volume which is still a valid break because topping patterns do not need volume and Ethereum has and will collapse on the weight of itself, this is an unfortunate event and it is extremely like that it will continue a downtrend especially since Bitcoin dominance is rising. In fact, most alt coins would be questionable investments at the moment. I suspect with each movement down in bitcoin, a movement down in Ethereum will occur, but there will not be the same movements up to negate it, in addition, Ethereum may not have as strong of supports as bitcoin will since capital is slowly shifting over. Key Points: 1.) Ethereum has broken through the neckline of its inverse head and shoulders to the downside due to no buying power. 2.) It will most likely be one of the first coin to diverge from bitcoin as a bitcoin season is on the horizon. Previous Analysis:
COINBASE:ETHUSD
by CuddlyCuddles
Failed Rally Bull Pennant at 200DMA Symmetric Triangle BreakdownGuys & gals, sorry to disappoint but it's time to face reality. My Elliott Wave Theory projection is just not happening. This dog just won't hunt; not going to the Moon anytime soon, either. What we have going on is a classic bull pennant in bear market flag formation. It's probably (~94%) going to lead to continuation downtrend. see virtually identical Fig 2: www.investopedia.com Support at 23531 on trendline back to 4-02 & 5-03; and if it breaks there, look for 22800. The flagpole is 1400 points high; the usual pattern is continuation reaches an equal low which would put the Dow ~22960 from top of pennant, if 24356 is in fact the high tip. I charted to 23531 where we have strong S1. Could go lower, 22800 possible. Likely to break down soon- look at the symmetric triangle arrowhead - points to break from 23313 on 7-10-18. I'm afraid break higher up is unlikely at this juncture. Getting really close, not much time left to maneuver I'm afraid. The Elliott waves failed to materialize because intense selling pressure into every rally kills it; pure chaos. Every rally is weaker - look at the top trendline on triangle past week. Got to 24.5k, then 24.44k, then 24.35k today. Each rally is ~100 pts under previous. Today's weak rally was ENTIRELY CONTAINED within the arrowhead- constrained by the upper/lower limits of trendlines. I'm afraid the reaction 'rally' is stopping at Fibo 24%. Got a hanging man Doji today as well. July 6 is Chinese tariff imposition day. Whatever the news is Friday the market will take it badly. Fed report today: "no mercy." Seems the rally was mostly due to 'Buy the Rumor - sell the News" on Fed papers. Turns out rumor was just... rumor; more fake news. This cave stinks of bear. Rolled all my calls into puts today, stop-lossed but got decent prices going both ways, given the mildly bullish price action. In spite of my prodigious efforts to raise the market by mind power projection, the rally has failed, go figure. Probably not long until the break. Pennant could fly for 10-12 days, now on day 6, or fold up tomorrow. Pennant won't fly long and there will probably be very little lift outside the triangle, which is a continuation pattern for downtrend. Barely breaking over the 200DMA above 24327 today likely represents the last near-term high until 2019. Sure I could be wrong and I hope so- Surprise good news from The Donald might change that, but don't bet on it. He's been bankrupt six times folks, U-R-Next! After another downdraft to S1 or S2 will possibly get a lower high in August, perhaps ~24k on Fibo .5 - .618, before it breaks again in September. Maybe. Or maybe it just grinds down all year long. Santa rally in Dec and recovery in Feb likely seasonal pattern behavior. Long-term- probably a weaker decade for stocks. Brace for impact; Good luck traders.
DJ:DJIShort
by DaddySawbucks
2
EURUSD: Bearish Momentum Can Lead Price Back To 1.1760s Area.EURUSD update: Price is attempting to stabilize at the 1.1933 level which is an old resistance / new support level while showing a bullish pin bar in the process. With momentum being decisively bearish, there is not enough structure at this level to justify any long swing trades. When momentum is decisive in one direction, usually any attempt to stabilize turns out to be a trend continuation pattern. The narrow range that price is trying to carve out at the moment appears to be just that, the beginnings of a trend continuation formation. This is especially important to observe since the next significant support level is the 1.1764 reversal zone boundary which is 200 pips lower. I would not look for longs here until price is much deeper into the reversal zone and is presenting a clear reversal structure which is it not doing at the moment. A pin bar is not a structure, it is just a single bar and not enough to justify taking any risk on the long side. If price does happen to bounce, the 1.2100 level (.382 of current bearish swing) is where we would anticipate the next actionable resistance to be. Shorting on a break of the current continuation pattern is a consideration, but would be an aggressive choice since this market is not in any type of resistance zone. As I always remind forex traders, these markets are heavily tied to the fundamental outlook of economic variables like interest rates. Any macro economic variable that has an effect on interest rates will sway the sentiment of major pairs like this one. It doesn't hurt to be aware of fundamental drivers that are putting pressure on a pair like this, but always look for the technical side to line up. If instead, the technical perspective is doing the complete opposite, which is not the case yet, then a fundamental shift may be in process that will show up on the charts before it does any where else. Do not discount the charts, because they often reflect fundamental changes before you hear about them anywhere else.
by MarcPMarkets
1
BEAR FLAG CHART PATTERN STRATEGYBTCUSD 1H - Bear flag pattern trading strategy is one of the most reliable continuation patterns. One of the first experiences most traders learn when they start trading is price action trading and one of the most popular price action pattern that you probably have heard is the bear flag pattern. The bearish flag is a very simple continuation pattern that develops after a strong bearish trend. It doesn’t really matter if your preferred time frame is the 5-minute chart or if you prefer long-term chart because the bear flag pattern shows up with the same frequency on all time frames. A continuation pattern, like the bearish flag, brings some good news because it tells you that after the market has gone down it will continue to go down more. In addition to that if you missed the initial sell off and the market has gone without you, if you spot the bear flag pattern on that chart, then this is a sign and a safe place to sell so you can enjoy the rest of the bearish trend. What is a Bear Flag Pattern? A bear flag pattern is constructed by a descending trend or bearish trend followed by a pause in the trend or consolidation zone. The strong down move is also called the flagpole while the consolidation is also known as the flag. The bear flag pattern will always come after a strong move downwards and the stronger the move the bigger the profit potential can be. The bear flag pattern highlights a trading environment where the supply and demand balance has shifted badly in one direction of the market (supply > demand). This in turn will produce very little upside retracement which allows the flag structure to take shape. After the initial sell off, people who missed the train will panic and begin selling and more people selling it during the flagpole stage. During the pause or the narrow consolidation people will now wait to get higher price so they can sell but since the supply demand equation is so imbalanced this won’t happen and we get another smash that will make many people to chase again the move to the downside. Step #1: Look for evidences of a prior bearish trend. For a valid bearish flag you need to see a sharp decline. Just because you can spot the bear flag pattern it doesn’t mean you have to jump straight into the market and trade it. Remember, we need the right context and the right price structure needs to line up for a tradable bearish flag. A valid bearish flag first needs a sharp decline which is a strong evidence of a bearish trend and the fact that the supply and demand are out of balance. Note* The sharp move is also the Flagpole – the first element of the bearish flag structure. Step #2: Identify the Flag price formation. The price action needs to move in a narrow range between two parallel lines. The flag price formation is the second element of the bear flag pattern. Basically, all you need to do is to spot one support and one resistance level that must contain the price action in a very narrow range. The narrow range is key for the bear flag pattern success rate. Step #3: Sell at the closing candle that generates the Flag Breakout. There are two basic approaches to enter the market with the bear flag pattern. Aggressive traders will enter at the top of the bearish flag as this will secure a little bit of bigger profits. If you’re a conservative trader you can wait for confirmation provided by the flag breakout. Step #4: Place the protective stop loss slightly above the Flag. We’re accomplishing two things with our tight stop loss: Small losses. Higher risk to reward ratio. With such a tight stop loss you’ll have the comfort of losing many trades in a row because with the amazing RR the bearish flag can potentially wipe out all your losses in a single trade and still come profitable. Step #5: Take Profit target equals the same price distance of the Flag pole measured down from the top of the bearish flag. The text book profit target is the height of the flag pole measured down from the top of the flag.
BITFINEX:BTCUSDShort
by Tradingstrategyguides