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Inside Bar

Bitcoin $BTCUSD Trendline on 8 Year Monthly Chart I want to share the LOG-scale trendline for $BTCUSD using Bitstamp data. There is an "internal trendline" that has been useful and it is found using the highs of the bars instead of the lows. Notice how the breakdown in late 2018 occurred right from a break of the yellow "internal trendline". Also note that the market flushed out and then RETURNED to the yellow "internal trendline" where it peaked out again. This is a much simpler, more accurate and more useful way of using trendlines. My forecast? This looks like a FAILED breakdown under the last two month's range. Notice how the last two months are "INSIDE BARS" with a tighter range that is inside the previous month's range. A break out of a small consolidation should be powerful and expand the range of the previous month and SO FAR it has NOT expanded the range to the downside. If by the end of September, $BTCUSD hasn't dropped under $6700, then I would expect a rebound to the $11,000+ level. Tim September 26, 2019. 9:26AM EST
BITSTAMP:BTCUSD
by timwest
6
SHOP - Daily - Inside candlestick reversalIf you follow the stock market, and the big names in it, you will know that Shopify has been on a rampage. But, SHOP has recently pulled back into a zone that I think counts as solid support. In doing this it made an inside candlestick pattern yesterday. Inside patterns are tricky ... they can be continuation or reversals. However, this particular inside candlestick is right at good support (what I think is good support anyways), and it had good volume. This tells me that this particular inside pattern is leaning to to the reversal side for SHOP. I will keep my eyes open and look for a close above the big candle. If it does that, I may enter long and ride it up to its all-time high.
NYSE:SHOPLong
by Bankuur
GLD - Daily - Inside bar setupBearish gold fits the narrative right now - the S&P wants to climb. Technically, GLD made an inside candle bar today. Inside bars can be bearish continuation patterns if the low of the previous candle (the "mother" candle) can be broken. Or, they can be bullish continuation if the high of the previous candle (the "mother" candle) can be broken. In this situation, I'm looking for a bearish continuation. But, I will wait until the low of the mother candle is broken with a close below it. Fundamentally, this bearish situation makes sense. SPY (S&P ETF) is doing all it can to break the all time high at roughly 302 ... whether SPY can break above and hold it, is yet to be determined. However, like I was saying, a bearish gold scenario fits this story line. When people are excited (risk on) they take their money out of safe haven equities such as gold (risk off), and put it in riskier investments. Traditionally, gold and bonds are the "safe space" for nervous investors. No nervousness = no "safe space" ... and the GLD sell off should continue. Not too mention, gold is up $200 per ounce YTD; it has room to pull back.
AMEX:GLDShort
by Bankuur
BITCOIN Breakout Imminent! Hello Traders, Welcome to an update on BTC recent developments, Inside Bars Broke! Points to consider, - Testing support line, potential HL - Price rejected from .618 Fibonacci zone - Overall volume spike - Bart pattern back into support line - EMA’s acting as resistance to price - Stochs in lower regions - RSI is in neutral territory - Bull impulses are getting smaller Bitcoin has recently had a dump from a major technical zone, the .618 Fibonacci retracement and structural resistance being in confluence, was too strong for the bulls. Price retraced back to the trend line which is currently holding as valid support. This trend line is a crucial support base for the bulls as we are coming closer into the formations apex, the HL and LH will have to cross in the near future. We can see a potential bearish divergence forming, but this will be more probable if the RSI retests its upper potential resistance zone (Orange Ellipse). The Stochastics is in lower regions, telling us that upwards momentum is probable, this will be valid as it will allows the RSI to retest upper resistance, further putting emphasis on the bearish divergence. The VPVR shows low volume of transactions after local support level, Bears are able to pick up momentum if price was to break support. We must also consider that the EMA’s are currently giving price resistance, an upper edge to the bears… A Break from the support line will send BTC to test local support levels, (green zones), posting gains of a potential 12.6%. A break bullish can really change the structure of BTC, taking out the previous Lower Highs; will allow posting gains of 16.5%, remember to use stop losses when trading breakouts! Overall a break either way can tell us which direction BTC is headed on the Macro timeframe, we will either test yearly lows or head up and above all-time highs with in the next couple months… What are your thoughts? Will BTC break trend line and test lower support levels, or will BTC break through resistance and put in a higher high… Please leave a like and comment, And remember Limit your size in any position so that fear does not become the prevailing instinct guiding your judgment - Joe Vidich
BITMEX:BTCUSD.PShort
by AzizKhanZamani
BTCUSD INSIDE BARS!Hello Traders! Another quick update on BTC Points to consider - Price bounced from support - Daily inside bars forming - Bulls broke EMA’s - Potential HL if price retraces from here - Volume climax candle on daily Bitcoin bulls have pushed price up successfully from local support right into local resistance. Price is currently forming INSIDE bars which are yet to break bearish and or bullish. A break bullish from this area can totally negate this descending triangle formation and will allow bitcoin to put in a higher high… A break bearish will confirm this next Higher Low and further prove the hypothesis of this being a descending triangle, a very bearish formation. Bitcoin has two major resistance levels (red zones) that bulls need to break if we are headed to yearly highs, this has to be backed up by high bull volume otherwise we may witness a bull trap and ultimately head back to yearly lows… What are your thoughts on Bitcoins immediate price action? Please leave a like and comment And remember, Markets change their behavior faster than people can change their minds… That is why intraday trading is so difficult.’’ – Unknown
BYBIT:BTCUSD.P
by AzizKhanZamani
Gold breaking downRising wedge pattern breakout Support (also fibo level) tested as resistance Inside bar sell signal Selling at market price with # SL @ 1514.358 and # TP @ 1429.477 Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only. You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg Join me in Forex Bootcamp for live updates using the link below. DISCLAIMER All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.
OANDA:XAUUSDShort
by Cmasterza