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Descending Triangle, Hidden Pennant GUGBP/USD has been falling since July 14th and now is looking like its trapped within what looks to be a Descending Triangle or Pennant considering the current Low is higher in the Support zone then the Previous. The Descending Triangle made of Lower Highs into the Support Zone should typically give us a Bearish Break where price continues LOWER! -What makes this a special case to me is the possible presence of a Pennant! The Pennant is made up of Lower Highs into Higher Lows, consolidating into a "Pinch Point" where eventually price will break Bullish OR Bearish. -Typically the break will happen in the direction price was heading prior to entering the pattern BUT there is potential for price to play within the Pinch Point until giving a Proper Break!! **Patterns are known to fail 1/3 of the time SO BEWARE OF FALSE BREAKS!!! -Fundamentally, USD & GBP have: Employment Cost & Consumer Confidence (USD) - Tuesday ADP Non-Farm Employment, JOLT Job Openings, Federal Funds Rate & FOMC Statement and Conference (USD) - Wednesday Monetary Policy Statement, Official Bank Rate Votes, Bailey Speaking (GBP) and Unemployment Claims (USD) - Thursday Average Hourly Earnings, Non-Farm Employment Change & Unemployment Rate (USD) -Friday **With the heavy news week, ANYTHING CAN HAPPEN!! My gut is giving me BEARISH vibes with the analysis of this chart and I believe USD could be finding support after its stunning comeback later in the week last week!!
Short
by Novi_Fibonacci
2
Pretty Sure AAVE is CorrectingThere has been a lot of talk about AAVE heading to the moon, and that analysis may be justified. However, it sure looks to me like it's going to hit the skids before blast off. As much as we love to see altcoins shoot up and wish those days were upon us, you have to respect the chart, whether we like what it's telling us or not. besides, don't you love it when it rains? I'm sure you'll all agree, that this week has been a real bitch. Finding a good set up has been difficult to say the least, and even when you find one it's like watching grass grow in Yellowstone National Park in the dead of winter. From the day trader's viewpoint the market goes against you a bit, then goes with you a bit, ultimately resulting in going nowhere on shorter time frames. But, when in doubt...zoom out. It might be imperceptibly slow and mercilessly, nauseatingly, and maddeningly testing your patience. But therein lies the rub. Patience is an absolute must in market situations such as we now find ourselves. This needs to be the rule. No matter how difficult it is to sit there and watch nothing happen, you need to shut up and watch nothing happen for as long as it takes for something to happen. The next hard and fast rule for this type of market is LOW LEVERAGE. It's like cooking ribs. Low and slow baby...low and slow. So what do we have? If your trading on a daily basis, the lack of action will frustrate you and drive you crazy, fostering decisions fueled by emotion causing you to try and make the market move the way you want it to. BIG MISTAKE. Don't do it. Take a cold shower instead. Oh, and short AAVE...it's going to go down, and up, and down, and up and down...but ultimately it's going down. For a minute anyway. Of course this is NOT financial advice. I'm wrong way more often then I'm right. So, if you take my blathering's as financial advice, you will no doubt lose just like me, which is also not financial advice...it's like a dog chasing it's tail, isn't it? Also, if you're allergic to trading, stop trading immediately and call your doctor. Some people have reported that when they trade they have experienced shortness of breath, high blood pressure, and certain cancers. If you have heart failure when trading, call your doctor. In certain, but few instances, trading has been known to ruin people's lives and in extreme situations caused death. If you experience death when trading, stop trading and call your doctor. Hey, the disclosures are not my fault...blame the lawyers.
Short
by powerroad1
3
OMG, The market is wild! (Humor!)The world seems to go wild! or maybe it's just evolving as if evolution intended for us to be involved.🙉 There is no doubt that we can control the consequence and the result in many areas of life, but in some, there is nothing we can do about it! 🤖 We have experienced in just two years a worldwide epidemic of the Corona virus and a war of Russia's invasion into Ukraine! there might be that the inevitable will occur! ♾ Notice the cycles on the chart, the angles they create over time, and how they exceed each other and reach a new high sharp angle! 📐 I did not want to talk about this, as I was terrified of my own research and the consequences it might lead so I decided to be true to myself and share my result and place it here as is, it might be that we are reaching these times! :|  and I can't guarantee it will be a pretty sight, but as a famous quote says it's all in the eye of the beholder.👀 And just like that, a new pattern appeared. Most of us know patterns like Heads and Shoulders, Pennants and Flags and so on, for this one, I call it the 'Single flip flap'. God help us, In the future, I never want to see the mighty 'Double flip flap', it might be just too much for me to absorb :| 😯 💨 Some might suggest or even think that I am joking, that what I make is bullcrap, trying to give a smile to our faces at these wild and bizarre market times, and yes, they are right. 😉 Just wanted to have some fun in these wild days, see below on 'RELATED IDEAS' a link to my serious expectations from the market. 💸 Enjoyed this? Follow for the next significant market update. 👍🏼 A quote I just like: “Life can only be understood backward, but it must be lived forwards.”👈
SP:SPX
by dman103
TA with Lil JonWhile it may look bearish on the short term, I believe that on the long term we're still in a bullish trend, even if we do break down into the WHAT zone, the previous ATH will still provide ample support, if we do manage to break down below the previous ATH we may end up testing the 1100 zone, unless we break below the 1100 zone I believe we are still on a bullish track, the short term bullish trend has clearly been broken however and if we keep consolidating in the Get Low zone I think we may see further breakdown before this weekend. However with the ETHBTC valuation showing a clear recovery I see no reason for a speedy recovery if ETHUSD were to "Bounce dat ass" back into the rapidly narrowing OKAAYY zone, YYEAHH zone, and potentially reach a local top between 2500/2800 before coming down again (if Bitcoin remains stagnant during that time) Peace out
BITSTAMP:ETHUSDLong
by bja00
89 hr. MA w/200 hr. MAWill these averages contain the feud! Our contestants have been battling for days. It's an all our war in the ring. And that good-good-for nothing Powell! He had the world's ears wrapped around each breath and he couldn't sway our heroes' fates! Well folks, how far will the see-saw swing before it breaks!? Which candlestick wick will whip this camel's back into mutiny? Tune in next time for more vague, yet detailed and possibly entertaining market commentary from Trader Jones aka pedalsfaster aka Jose Cansebro. Don't forget to stick your fingers in some soil today. It's where we all come from. And where we will all return. Grandmother: "Remember honey. All the pieces go back in the box at the end of the game."
FX:XAUUSD
by pedalsfaster
1
OH MY GRID... Chart Art (Like & Share)OH MY GRID... Poetry: Crypto Grid Traders Poem. I’ll tell you no fib , I’ll tell you no lie, My grid is all set up with a range of 7.55 Perhaps price will go up, Or maybe zigzag to the side, But my grid is all set up, Ready to buy low and sell high. I wave goodbye to Elliot As I point him to the door. See you later, oscillator , My grid bot will handle the chore. No more watching candles No more staring at my chart . My grid is all set up, I say OMG… let’s start start start! Poetry and Chart Art by Dan Hollings My name is Dan Hollings, I'm a Master Grid Trader. I can teach you what I do and before long (maybe even tomorrow) , you could be making money in the grids! HOW DO I LEARN MORE? 1) Review my related IDEAS and TUTORIALS (linked below) 3) Explore my GRID INDICATORS (linked Below) PLEASE HIT THE LIKE BUTTON (and follow me... for Chart Art, Tutorials, Indicators and More!) As always, I appreciate your support. Please share with others. ENJOY! Dan Hollings Master Crypto Grid Trader Please Explore My Other Indicators, Scripts, Grids and Educational Ideas. @ DanHollings on Tradingview.
Education
by DanHollings
1
SIEB looking like a nice week stockThis may not signify an immediate buy, but may turn into one later on. I'll take you step by step, through my incredibly interesting process of thinking... stay tuned! Aroon: The blue line is in sharp decline, and having passed the orange one a couple days back, is looking like the uptrend might win for a while. (For the confused: Orange, uptrend. Blue, Downtrend (strength)) MACD: Going upwards with an orange line on the bottom (good), but recently crossed, so keep an eye out, may just be consolidation on behalf of the MACD. AO: Had a flip a while back, and doesn't seem to be having any problems. To reinforce the buy signal, would be nice to see a saucer (or whatever you call it) movement in the future. Stoch RSI: Flatlining on the uptrend (not sure if that statement is self contradicting or not), but may dip down and cause temporary fear in the hearts of its investors, but stay strong! Thank you for reading (if you did), I will keep all of y'all updated... P.S Almost forgot. WARNING: LOW FLOAT STOCK, PROCEED WITH CAUTION. and yes, I'm yelling.
NASDAQ:SIEBLong
by UnknownUnicorn535733