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Descending Channel

Bitcoin - Pitchfork and Bullish Flag (You haven't seen it!) On the chart, you can see my Fibonacci original pitchfork on the logarithmic scale, starting from the bottom at 15476. As you can see, this pitchfork is very well respected, sometimes pretty much exactly to the dollar. The power of a pitchfork is real on Bitcoin. I use Fibonacci 1, 0.618, 0.382, and 0 values for it. Right now, the price of Bitcoin is still bullish because the pitchfork is clearly holding, we can see a bullish flag / parallel channel on the recent price action, and what's more, we have an ABC correction that has been completed successfully. It's a good bullish setup for longs, but we all know that if the price falls below the pitchfork and below the ABC wave, it's going to trigger a massive crash to 15k! Bitcoin is overall pretty weak compared to gold, which has already almost hit an all-time high while Bitcoin is struggling. In all of my analyses, I always give you a very strong technical analysis that no one else does. I keep my description pretty short, so you don't spend too much time reading while all the necessary information is included. It's really best for bullish flags to be together with an ABC correction of ZigZag types. This will increase the probability of success. Maybe I am wrong and Bitcoin is not going to pump, but it's totally okay as long as your risk-to-reward ratio is above 3. You can be right only 40% of the time to be a successful trader. Most people think you need to be right 80% of the time, which you can, but your risk-to-reward ratio will be only 1, which gives you a very small profit for each trade. I prefer a higher risk-to-reward ratio with a lower success rate. I do analyses for the bulls and for the bears, and now it's your work to do your own analysis and open trades. I give you good reasons for the bullish and bearish scenarios. It can sometimes look like all I post is that I am sure about it, but it's just a part of my personality. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately. Thank you, and for more ideas, hit "Like" and "Follow"!
Long
by UnknownUnicorn2537518
132
TSLA: Bull Trend Pullback - Watch Out for These Key Points!• Yesterday, TSLA did a Gravestone Doji candlestick pattern, just under the $191 resistance line, indicating a pullback; • As I mentioned yesterday, any pullback to the $177 area wouldn’t be the end of the world, as the trend is still bullish (the link to my previous analysis is below this post, as usual); • So far, it seems this is just a pullback, as there’s no bearish reversal structure on TSLA yet; • If TSLA loses the $177, then it might frustrate the bullish sentiment; • On the weekly chart, TSLA is still inside a Descending Channel, and it seems it found a resistance at the upper trend line again; • Therefore, TSLA just reached a key resistance level this week. If it breaks this resistance in the next few days, we will see a meaningful bullish reversal pattern being triggered on the weekly chart, reversing the long-term bearish sentiment seen since 2021. 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
9
XAUUSD ---> one small long positionhello guys... in my opinion, the main movement in #gold is bullish yet, but you can enjoy a small profit by getting a short position. in the short term, it is on descending channel and now touching the top of that, besides this, it makes a QML pattern as well. so you can get a short position but put your target small. ____________________________ always do your research. If you have any questions, you can write them in the comments below, and I will answer them. And please don't forget to support this idea with your likes and comment
OANDA:XAUUSDShort
by melikatrader94
21
USOILSPOT | New perspective for the week | Follow-up detailBy the end of the previous week, the Oil prices appear to have stabilized in a trading range between 74.00 and 67.00 per barrel. Sluggish data coming in from the Chinese economic docket (the world's number one importer of crude oil) is not helping matters at all; with a 1.4% decline in imports and an 8.5% drop in export growth. The economy seems to be struggling and there are insinuations that demand for oil might also slip in the world’s largest importer of the commodity thereby prompting traders to slow down. In this video, we used the current technical setup identified on the 4H timeframe to identify potential trading opportunities ahead of the new week. 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.
FX:USOILSPOT
by darcsherry
TSLA: Approaching its Climax.• TSLA stock continues its rally, heading to the next resistance level, at $177 (purple line); • So far, there’s no technical top signal, nor bearish reversal structure indicating that TSLA could correct from here; • On the daily chart, we see that TSLA is doing higher highs/lows, and if it breaks the $177 resistance, it’ll trigger another pivot point, and in this case, it could easily seek the $200 next. • The $200 area is close to the upper trend line of the Descending Channel seen on the weekly chart; • Despite the mid-term rally seen on the weekly chart, the long-term trend is still bearish, and TSLA has to break this channel upwards in order to confirm a long-term bullish reversal structure; • The main support area is around the $164 (red line), as if TSLA loses this key point, it might frustrate the mid-term bull trend; • So far, everything seems under control. It all depends on how TSLA will react around the $177, its next climax. 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
9
IDX:ERAA Three Drive Pattern and Double BottomENGLISH: By paying attention to the consistency of the IDX:ERAA market movement, it can be predicted by using a descending parallel channel and three repeating patterns, the ERAA market will bounce to 525-540. If there is a daily market opening above 540 then there is a high probability that IDX:ERAA will break free from the bearish trap and return to bullish. However, by looking at the current conditions there is still no certainty, the main bearish target is the formation of a double bottom between 410-382 BAHASA: Dengan memperhatikan konsistensi pergerakan pasar IDX:ERAA dapat diprediksi dengan menggunakan paralel channel menurun dan tiga pola mengulang, Pasar ERAA akan mantul ke 525-540. Jika ada pembukaan pasar harian diatas 540 maka besar kemungkinan IDX:ERAA akan terlepas dari jerat bearish dan kembali bulish. Namun dengan melihat kondisi saat ini masih belum ada kepastian, maka target bearish utama adalah terbentuknya double bottom antara 410-382
IDX:ERAA
by deSultanTM
NVDA: Reached a Critical Turning Point | Weekly Analysis.• NVDA is extremely bullish, and in spite of the top signals it gave us last week, it didn’t trigger any single one of them, frustrating any bearish thesis on it; • The 21 ema, the first support level, has been acting as a good support level this year; • The $262 is a key support level, and only if NVDA loses it we might see a further correction, maybe to the $244; • There’s one problem with this bull trend, though, which is the previous resistance at $289 (green line). NVDA has yet to break this key point, which is a quite important one, especially if we see it in the weekly chart. • The $289 is a previous top level from March 2022, and this is why if NVDA triggers any top signal around this area we could see a sharp correction; • Keep in mind, the trend is very bullish, as this year, NVDA did an upwards breakout from a Descending Channel and it triggered an IH&S chart pattern; • However, any top signal could trigger a correction to the 21 ema in the weekly chart again, and this wouldn’t ruin the bullish momentum in this time-frame; • So far, there’s no top signal or bearish structure indicating a pullback, and NVDA has everything to retest its ATH again, but we must keep our eyes open in this area. 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
Descending Channel on NZD/CAD @ W1A descending channel has formed on the weekly chart of the NZD/CAD FX pair and offers a bullish breakout opportunity. The pattern's borders are marked with the yellow lines. The potential entry level is at the cyan line. The potential take-profit level is at the green line. The stop-loss is to be set to the low of the breakout candle (or to the low of the preceding candle if the breakout one is trading mostly outside the channel) - it isn't shown on this chart.
Long
by AndriyMoraru
USDJPY in a Downward ChannelUSDJPY has been trading in an upward channel for the past month, which suggests a bullish trend in the pair. However, over the past week, the price has consolidated into a downward channel, indicating a possible reversal or correction in the trend. It is important to note that a downward channel is a continuation pattern, which means that it is likely to continue in the direction of the previous trend. In this case, as the previous trend was upward, it is possible that the price may break out of the downward channel in the upward direction. Traders should keep a close eye on the price action to identify the breakout direction and time. A break above the upper channel line would confirm the bullish continuation pattern, and traders could look for long opportunities. On the other hand, a break below the lower channel line would signal a bearish reversal, and traders could look for short opportunities. It is important to exercise caution and wait for confirmation before taking any positions, as false breakouts can occur. Additionally, traders should use appropriate risk management strategies to limit their exposure to potential losses. In summary, while USDJPY has been in an upward channel for the past month, it has consolidated into a downward channel over the past week. The continuation pattern suggests a potential upward breakout, but traders should wait for confirmation and use appropriate risk management strategies.
Long
by lukaswils