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MU: This is a decisive moment! |1H & D charts|1-Hour Chart (Left Side) On the 1-hour chart, the price formed a strong uptrend followed by a consolidation pattern, identified as a flag. This pattern typically indicates a continuation of the previous trend, meaning that a breakout above the flag's resistance could lead to further gains. However, the price is currently testing the lower boundary of the flag, which is aligned with the 21-period EMA. If the price breaks below this level, it may invalidate the bullish flag, leading to potential downside pressure. Daily Chart (Right Side) On the daily chart, the price is approaching resistance around $127.24, which aligns with an open gap. The gap closure often acts as a resistance level, and the price action around this area could determine the next move. If MU's price loses the lower support of its flag pattern seen on the 1h chart, its price could seek its next Fibonacci's Retracements, which are now our next support levels. Only a clear bullish reaction, breaking (and closing) above the 109.47 would trigger tthis bullish flag upwards, starting a new bullish rally to its gap. For now, MU's price looks weak. Key Levels to Watch Resistance: $109.47 is the immediate resistance, with a potential breakout indicating further upside. Support: The $104.77 level. Summary MU is at a crossroads where the resolution of the flag pattern on the 1-hour chart will likely dictate the next significant move on the daily chart. A breakout could lead to continued upward momentum, while a failure might result in a retracement towards lower support levels. For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions. Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation. “To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore All the best, Nathan.
NASDAQ:MU
by Nathan_The_Finance_Hydra
EURAUD: Technical Outlook & Your Trading Plan Explained🇪🇺 🇦🇺 EURAUD is currently retesting a recently broken horizontal support. To sell the market with a confirmation, pay attention to a bearish flag pattern formation on a 4H time frame. Bearish breakout of a support of the flag and a 4H candle close below that will give you a strong bearish signal. A bearish continuation will be expected at least to 1.6465 level then. ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
1
Bitcoin Analysis==>> Bearish Flag PatternBitcoin pulled back to the broken Support zone($60,520-$60,120) , as I expected ( in yesterday's post ). According to Elliott's wave theory , Bitcoin seems to have completed the Zigzag correction(ABC/5-3-5) . Regarding Classic Technical Analysis , Bitcoin seems to have formed a Bearish Flag Continuation Pattern . I expect Bitcoin to fall again after breaking the Ascending Channel's lower line and the Support zone($58,500-$57,000) . Bad News: Since yesterday, 785 million dollars of Bitcoin and 75 million dollars of Bitcoin have been moved by the Mt.Gox exchange, which is a significant volume. Note: If Bitcoin goes over $60,700, the Scenario will change. Bitcoin Analyze (BTCUSDT), 15-minute time frame⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
42
A further 1700% move to $600 for Gamestop in 2024?Bet that title got your attention. Well it might not be as crazy as it seems. An exercise performed by yours truly is to scan through monthly charts on the beginning of each new month. Takes more time than you imagine. Gamestop is certainly worthy of attention on the monthly time frame. On the above monthly chart: 1) It is without question, past resistance confirms support with the close of May on the horizontal support / resistance. Blue arrows. 2) The print for May is a bullish engulfing candle. A candle besting those that printed in May of 2020. 4 years later… Look left. 3) The “Breakout” in stochastic RSI is significant on this time frame. Momentum is surging. 4) The Bull flag pattern breakout is impressive but not yet confirmed. Ideally a backtest would print around the $15 dollar area. 5) Should a back test confirm support then price action is forecast to make a run to just over $600. Is it possible price action delights short sellers with urgently needed corrections? Sure. Is it probable? No. Ww
NYSE:GME
by without_worries
30
EUR/GBP Trading ReportDate: August 15, 2024 Instrument: EUR/GBP Timeframe: 4 H Trade Type: Long Position 1. Market Analysis: Pattern Observed: A bullish flag has formed and completed on the EUR/GBP chart, signaling a potential continuation of the prior uptrend. Pattern Characteristics: The bullish flag is a continuation pattern that typically follows a strong upward move, with the flag portion representing a brief consolidation before the trend resumes. 2. Trade Setup: Long Position: Entry: Planning to enter a long position at 0.85319 OR at the breakout above the flag's upper boundary, confirming the continuation of the uptrend. Stop Loss: Placing a stop loss below the flag's lower boundary or recent low at 0.85092, to protect against a false breakout. Take Profit: Targeting the next significant resistance level or measured move objective at 0.86374, based on the height of the flagpole. 3. Risk Management: Position Size: Adjusting the position size to risk no more than 1-2% of trading capital. Risk-Reward Ratio: Ensuring a risk-reward ratio of at least 1:4, providing a favorable potential outcome. 4. Outlook: Bullish Bias: The completion of the bullish flag suggests strong bullish momentum, with the potential for further upside as the trend resumes.
Long
by justTheRookieTrader
EUR/GBP Trading ReportDate: August 15, 2024 Instrument: EUR/GBP Timeframe: 4 H Trade Type: Long Position 1. Market Analysis: Pattern Observed: A bullish flag has formed and completed on the EUR/GBP chart, signaling a potential continuation of the prior uptrend. Pattern Characteristics: The bullish flag is a continuation pattern that typically follows a strong upward move, with the flag portion representing a brief consolidation before the trend resumes. 2. Trade Setup: Long Position: Entry: Planning to enter a long position at 0.85319 OR at the breakout above the flag's upper boundary, confirming the continuation of the uptrend. Stop Loss: Placing a stop loss below the flag's lower boundary or recent low at 0.85092, to protect against a false breakout. Take Profit: Targeting the next significant resistance level or measured move objective at 0.86374, based on the height of the flagpole. 3. Risk Management: Position Size: Adjusting the position size to risk no more than 1-2% of trading capital. Risk-Reward Ratio: Ensuring a risk-reward ratio of at least 1:4, providing a favorable potential outcome. 4. Outlook: Bullish Bias: The completion of the bullish flag suggests strong bullish momentum, with the potential for further upside as the trend resumes.
Long
by justTheRookieTrader
BTC\USD Cup and handle and a bullish flag PatternBITSTAMP:BTCUSD Hi everyone! It's been a while since I analyzed charts, so please take my observations with caution. This morning, while looking at the daily chart, I noticed a potential cup and handle pattern along with a bullish flag. I'd love to hear your thoughts in the comments! I think the cup and handle is particularly intriguing because it typically signals a bullish continuation, especially if the breakout occurs above the resistance level. The fact that it’s forming alongside a bullish flag could indicate strong buying momentum as well. I’m curious if anyone else is seeing similar patterns or has insights on this setup. Let's discuss!
BITSTAMP:BTCUSDLong
by Cronictruck115
Gold Teeters on the Edge: Major Reversal or Breakout?The charts provided for XAU/USD (Gold Spot) on various time frames present a comprehensive analysis scenario where several key patterns and zones align across different time frames. Analysis Breakdown: 1. **Daily Time Frame (1st Chart):** - Rising Wedge Pattern: This is typically a bearish reversal pattern, especially when it forms after a significant uptrend. The price is nearing the upper boundary of this wedge. - Daily Liquidity Zone (LQZ) at ~2,484, The price is within a critical liquidity zone. This zone often acts as a magnet for price action, where significant buying or selling can occur. A reaction here could signal a reversal, particularly since it aligns with the top of the wedge. 2. 4-Hour Time Frame (2nd Chart): - Continuation of the Rising Wedge: The 4-hour chart mirrors the daily chart, emphasizing the wedge pattern's significance. The price is testing the upper boundary of this wedge, which could result in a breakout or a reversal. - Confluence at LQZ: The price is closely interacting with the daily LQZ, reinforcing its importance. Multiple touches near this area might suggest either absorption of liquidity before a breakout or a potential exhaustion leading to a pullback. 3. 1-Hour Time Frame (3rd Chart): - Bearish Flag Structures: Two bearish flags are visible, which are typically continuation patterns indicating the possibility of a downward move. These have occurred within the broader rising wedge. - Approach to Key Resistance: The price is at a critical juncture where the rising wedge's upper boundary coincides with a strong resistance level. 4. 15-Minute Time Frame (4th Chart): - Breakout and Retest Scenario: On the lowest time frame, a breakout from the bearish flag is evident, with the price retesting the structure's top. This may indicate either a continuation to the upside or a failure and reversal, depending on how it interacts with the liquidity zone above. Potential Trading Scenarios: - Reversal Scenario: Given the rising wedge pattern and its bearish implications, combined with the proximity to a significant liquidity zone, there's a strong potential for a reversal. Watch for a clear bearish signal on the 4-hour or daily chart, such as a bearish engulfing candle, which could confirm the reversal. A break below the wedge's lower boundary would be a stronger confirmation. - Breakout Scenario: If the price breaks above the wedge's upper boundary and holds, especially on the daily chart, it could signal a continuation of the uptrend. However, be cautious of potential false breakouts, especially around such strong resistance and liquidity zones. - Entry Considerations: If considering a short entry, look for a rejection from the LQZ on the 4-hour or 1-hour chart, ideally supported by bearish confirmation patterns (e.g., engulfing candles, pin bars). A reduced-risk entry could be taken on a lower time frame after the breakout and retest of the wedge or flag structure.
OANDA:XAUUSD
by Adlercon333
4
Zászló alakzat D1 - Flag PatternMeglátjuk mit hoz az szeptember-október. Fundamentálisan lassan vége a nyaralásoknak, várhatóan megnő az érdeklődés iskolakezdés után. Rövidtávon csatornában való mozgás 67500 és 51200 között abszolút reális forgatókönyv. Vásárlás + felhalmozáshoz (hosszútávra) 51000 szinten jó beszálló lehetőséget látok! Idei évre várom decemberig a 100 000 - 120 000 árfolyam szintet! Reális lehet ennek a ciklusnak az ATH értékét megrajzolni a következő három hónapban.
BITSTAMP:BTCUSDLong
by mraksi
1