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Harmonicpattren

💡BTCUSD ANALYSIS💡Hello Valued Friends, Technical Analysis: Daily Bearish Shark: When examining the daily chart, we can observe that the Bearish Shark formation has completed. *The first target of 29275 has been reached. The second target is 28200 The third target is 26789 Daily and weekly closes above 32650 are important levels to be monitored. Daily Bullish Bat: Another possibility on the daily chart is the formation of a Bullish Bat pattern in a different area. This formation could herald an upward move following a downtrend. Potential Weekly Bullish Shark Formation: When inspecting the weekly chart, we notice the potential formation of a Bullish Shark pattern. Additionally, I am monitoring the weekly chart up until the 6th-7th month of 2024. Significant price levels are marked on the chart. Short-term expectations point towards a downward direction in technical terms. However, for the long term, around the 6th, 7th, and 8th months of 2024, I anticipate a significant rise based on the fundamental factors depicted in the chart. Furthermore, I have been using the speed resistance fan shown in the image for a long time. When it breaks the all-time high price, fan directions could prove useful. Fundamental Analysis: Particularly, the halving event in March-April 2024 and the BlackRock SPOT ETF application, which will be decided in February 2024, hold importance for the future of cryptocurrencies. Bitcoin Halving: The Magic of Limited Supply In March-April 2024, the Bitcoin network's reward system, known as halving, will occur. This means that the amount of Bitcoin miners receive per block discovery will be halved. Such halving events facilitate a controlled reduction of Bitcoin's supply. Historical instances indicate that each halving has led to a price increase in Bitcoin. BlackRock SPOT ETF: Could it Accelerate Institutional Acceptance? One of the crucial steps for wider acceptance of cryptocurrencies in the financial world is the creation of products that facilitate access to crypto assets by major financial institutions. The anticipated outcome of BlackRock's SPOT ETF application in February 2024 holds significance in this regard. If approved, it could provide a more straightforward and secure avenue for traditional investors interested in crypto investments. So, What Negative Factors Could Impact the Market at Any Moment? Bankruptcy of a Major Crypto Exchange: The insolvency or distress of significant exchanges could heighten market sensitivity. Such a situation could trigger trust issues and price fluctuations. Issues with Stablecoins: Problems with stablecoins, especially popular ones like Tether, could lead to market fluctuations. If a stablecoin loses value or its reputation, it could have significant effects on the crypto market. In conclusion, the market is risky, and being cautious while practicing risk management is essential.
BINANCE:BTCUSDShort
by shncoskunn
📈Bitcoin prediction, 26K or 31K? 📉BINANCE:BTCUSDT COINBASE:BTCUSD Hello dear traders Due to the decrease in trading volume in the last few weeks, I'm going to do some weekly Bitcoin analysis. In the next few days, Bitcoin is expected to return to the $31,000 range if it holds above the indicated areas. If the price breaks below the mentioned areas, the price will drop to the level of 28,150 and then 26,500. ✌💥If you are satisfied with my analytical content, please share my ideas💥✌ ✍🐱‍👤Otherwise, make sure you leave comments and let me know what you think.🐱‍👤✍ 🤑🍾Thank you for your support. I hope you will gain profit by following my analyses.🍾🤑
Short
by CrazyS
GOLD/ XAUUSD ROAD MAP 🔰 Pair Name : XAU/USD 🔰 Time Frame : 4H 🔰 Scale Type : Small Scale 🔰 Direction : SELL THEN BUY From a highly technical standpoint, it is worth noting that Gold is currently in the process of forming a compelling and exceptional Harmonic Pattern, specifically the bullish Crab Pattern. As the price approaches the XA 1.618 level, approximately around the 1898 area, we anticipate a retracement to occur, at the very least reaching the 1944 area, and potentially extending further to 1956.7 at the B point-C point. It is important to be aware that there is a possibility of the price retracing back to the 1938.5 area today before completing the pattern. It is crucial to exercise caution and make informed trading decisions while staying attentive to the market.
FX:XAUUSD
by Moon_SmartMoney
2
GBPUSD Price AnalysisFX:GBPUSD It is a quiet day for the advance of the FX:GBPUSD GBP/USD. Today there are no economic indicators from the UK to present. A lack of economic indicators leaves GBP/USD risk-averse to economic markets, while weaker economic indicators in China, Europe and the US have rekindled the sentiment as central banks remain They can use it. From the point of view of technical analysis, the GBP/USD is fluctuating in a one-hour time frame in a descending channel that is drawn and according to the upward trend formed from the bottom of the channel, now to The parity ratio seems to be undergoing a corrective trend from the recent rise, and it is likely that as long as the rate above the 50% Fibo support (No hourly candle closes are recorded below it) then the Price is also expected that the rate intends to complete the BEARISH BUTTERFLY harmonic pattern to 1.2807-1.2801, in the meantime, the XA wave roof resistance at 1.2761 is seen will be.
Long
by Daragolbon
GOLD ✪ POSSIBLE REVERSAL ✪ DOUBLE BOTTOM ✪ HARMONIC ✪ ONE HOURGOLD-USD is moving in BEARISH direction for a long time. However, in this technical analysis, several indications are presented which suggests the possible reversal of this precious metal instrument. Firstly, there is a presence of BULLISH divergence, instead the price is steadily DECREASING, the Relative Strength Index (RSI) has been showing a UPWARD movement which indicates that the BEARISH momentum of GOLD-USD may be losing its pace. Thus, this divergence between the price and the RSI suggests that the price may be over sold and due for a correction. Secondly, there is a presence of DOUBLE BOTTOM reversal pattern which also supports the idea of the reversal for GOLD-USD. This DOUBLE BOTTOM Pattern was observed at one hour time frame analysis. Based on above, it appears that the GOLD-USD pair may take the BULLISH movement from the ENTRY PRICE mentioned in the chart. Thus, it can be an opportunity for a LONG TRADE if it breaks the ENTRY PRICE level. The Risk to Reward Ratio is suggested 2% of the total portfolio. Best of Luck..
TVC:GOLDLong
by haroonsiddiki
EUR-CAD|POSSIBLE REVERSAL|LONG SETUP|HARMONIC TRADINGThe current technical analysis of the EUR-CAD currency trading pair reveals an DECREASING trend that has been shaping from last few hours. However, there is also an indication of BULLISH divergence and presence of Bullish AB=CD HARMONIC pattern suggesting that the bearish momentum of EUR-CAD may be losing its momentum. Looking at the charts, we can see that the price of EUR-CAD has been steadily FALLING forming Lower Highs and Lower Lows, indicating a clear down trend. However, there is a notable bullish divergence pattern emerging, indicating that the bearish momentum may be losing steam. While the price of EUR-CAD has been decreasing, the Relative Strength Index (RSI) has been showing a upward. This divergence between the price and the RSI suggests that the price may be oversold and due for a correction. Considering all the technical indicators, it appears that the EUR-CAD currency trading pair may take the bullish movement from the ENTRY PRICE mentioned in the chart. Thus, it can be an opportunity for a LONG TRADE if it breaks the ENTRY PRICE. Risk to Reward Ratio is suggested to 2% of the total portfolio.
Long
by haroonsiddiki
GOLD: awaiting the FOMC decisionIn a few hours we will know if FOMC decides to raise interest rates by 25bp or if there will be a pause in monetary policy. Having said that, if we look at 1H chart we still have the same technical structure (see analysis below), which is still valid at the moment. With this in mind it would be great if TVC:GOLD triggered a swing as shown on chart (first bearish then bullish), I say that because I really like the Pin Bar at 1,971 . What will happen on gold market? In the short term it's hard to say, but today's session will certainly be our driver for a few sessions/weeks. PREVIOUS ANALYSIS (Click on Chart below) FUNDAMENTAL ANALYSIS (Long term) (Click on Chart below) PRE-FOMC ANALYSIS (Click on Chart below) Trade with care! Like 🚀 if my analysis is useful. Cheers!
OANDA:XAUUSD
by TheAnonymousBanker
3
How To Use The XABXD Pattern ?The term "xabcd pattern" is commonly used in technical analysis, specifically in the field of harmonic trading. It refers to a specific price pattern that is believed to have predictive value in identifying potential market reversals. The xabcd pattern is based on the Fibonacci retracement and extension levels, which are ratios derived from the Fibonacci sequence (a sequence of numbers in which each number is the sum of the two preceding ones). The pattern consists of four key points labeled as x, a, b, and c, forming specific ratios between these points. Here's a breakdown of each point in the pattern: 1. Point X: This is the starting point of the pattern and represents the beginning of a significant price move. 2. Point A: This marks the end of the initial price move and is usually a retracement of the XA move. Point A is typically at the 0.618 or 0.786 Fibonacci retracement level of the XA move. 3. Point B: This represents a retracement of the AB move. Point B is typically at the 0.382 or 0.618 Fibonacci retracement level of the AB move. 4. Point C: This marks the completion of the pattern. Point C is usually at the 1.272 or 1.618 Fibonacci extension of the AB move. The xabcd pattern suggests that once point C is reached, there is a higher probability of a market reversal in the opposite direction. Traders who use harmonic patterns like the xabcd pattern look for these formations on price charts and use them to anticipate potential trend reversals. They may enter trades based on the completion of the pattern, placing stop-loss orders below or above the pattern's points to manage risk. It's important to note that while harmonic patterns can be a part of a trader's toolkit, they are not foolproof and should be used in conjunction with other technical analysis tools and risk management strategies. It's recommended to study and practice extensively before relying solely on any specific pattern for trading decisions.
TVC:GOLDEducation
by pratikratadia
2
AUDJPY: Target 1 achieved! ...and now?Our last setup was correct, the FX:AUDJPY pair completed the harmonic structure and subsequently reached our Target 1 around 93.95. Having said that, on the 1H chart we have resistance around 94.45 (swing) and then 94.95 (Target 2), and from one of these areas the pair could trigger a pullback. Unfortunately, I don't have a clear short signal at the moment, so I am waiting for some Reversal or Continuation Pattern to form. Below, you can study and analyze our latest bullish setup: Trade with care! Like 🚀 if my analysis is useful. Cheers!
by TheAnonymousBanker
2
GBPUSD Bullish 3-Drives Pattern (LONG)On the GBPUSD 4 Hour chart, there are multiple indications that there will be a bullish move soon. 1) There is a bullish 3-Drives pattern. Price should move higher to at least the 38.2% Fibonacci level. 2) There is a trendline which has acted as resistance and tested multiple times. It is likely to attract price and be tested again. 3) Stochastic (default settings) indicates an oversold condition. Price is currently 1.2356 The 38.2 minimum target is at the 1.2400 level. Which is also a good psychological level. So this can be a good in and out trade for a profit of 44 pips minimum.
Long
by EACoders