H4: There is a daily K-level pressure trend line above, and it is recommended to place short positions at high levels.
Strategy:
Sell Zone @ 2330 - 2355
SL: 15-25
TP: 40-80
Sell Stop @ 2285 - 2300 (positive)
SL: 10-15 TP: 30-60
Buy Zone @ 2240 - 2265 (negative)
SL: 15-25
TP: 30-60
4K UHD Pic:
A descending triangle is a bearish chart pattern used in technical analysis that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows
As you guys can tell, I have been extremely excited lately, and watching bitcoin in good health and strength is really satisfying. Although you can make money at greater speed shorting, there is nothing that satisfies the spirit as a strong bull market. This is the last and the final battle for bitcoins longer term future right here, and its exciting.
IF you have...
I expect the price to continue its uptrend for a day or two until it reaches the .382 retracement level, at which point it can then go either way
- The price will break above the .382 retracement level in which case I'll go long expecting a take profit around the top of my Fibonacci retracement.
or
- The price will bounce of the .382 retracement level in which...
Hey guys! A couple weeks ago I posted about a Descending Triangle on EURJPY that seems to be near completion soon!
But I seem to find signals that it will be an upward breakout instead!
-Stochastics have shown a bullish divergence
-Weekly chart Fib Retracements has shown that this Descending Triangle is resting on the 50.0 Fib Level
Seems like it could be a...
Hey guys! Found a descending triangle continuation pattern on the EURJPY! Always remember to wait for the close BELOW the Descending Triangle before trading! :)
Good luck guys!
Oh, and I would really appreciate if you guys could give me a follow! Do share your thoughts with me! It will be a great learning opportunity for me to improve in my analysis skills!
After a prolonged decline from 1.08 it looks that AUDUSD is trying to find a medium-term bottom.
Does it also a correlate with XAUUSD which is also trying to stablizes after 3 years decline?! A break out of descending triangle would confirm the existance of a medium-term bottom.
This is not a trading signal, and we need to look also at the weekly time-frame to...
I found a pattern that was playing its game on the usdcad with the price making a double bottom on the hourly chart and the price action forming an inverse pin bar with a bullish candle following , forming then a morning star pattern that confirm the short ter bullish bias for this pair. At the moment the price made a higher high and besides the bad news released...
This descending triangle is always a bearish pattern, indicating a strong sell signal. Here we see it paired with either a "weak" Gartley or Crab advanced pattern. Technically it's a failed gartley. I call it weak, because the 'B' point retracement of XA doesn't reach the .618 fib levels. To be fair this has more of a potential for the Crab pattern, which would...
Looking at the weekly chart we can see what Gold has been doing on a plain and simple pattern. Although it is now on a triangle pattern coming from a downtrend we should keep in mind that the price is just sitting on a critical level which was the previous support highlighted with yellow box. Can this be a potential continuation of a downtrend or will support hold...
I posted a case on the daily taking some liberty with the possibility of a symmetric triangle -- I determine a bullish case due to MACD/RSI/OBV suggesting a positive divergence with respect to price. In this case, I with a descending triangle, I see a channel that is forming in a possible uptrend with significant fib resistances.
