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Mpattern

The W pattern studyW pattern is directly opposite of the M pattern as you could probably assume Using GNOUSD as an example we can see the W breaking out and completing its formation In doing this it seemingly forms what I would call a 'Handle' for the pattern Observing this allows the comparison between the two patterns (W and Cup and Handle) Also the observation of a clear cut Top, similar to the cup and handle Outlined on chart 1,2,3 are my key takeaway points that I have come to believe
KRAKEN:GNOUSDEducation
by Bixley
4
NZDUSD Pattern completionNZDUSD showing some textbook price action providing us with a potential opportunity to go short. A double top M pattern completing the retest of the neckline, lining up with key fib levels. We can now see momentum starting to shift with the current formation of candlesticks (shorter bodies + longer wicks). If we are to see this area hold as resistance and break below, on a retest we will be looking to enter short and for price to continue the downside move. Note that we will only be entering on retests as it will provide us with the confirmations we need and superior R/R. Targets set at 1.272 extension of the previous swing. A break above our key area will invalidate this set up. If you have any questions please comment. - Nick
Short
by IroncladFX
GBPUSD larger retracement due?On the left hand side, we can see from the weekly timeframe that bulls have failed twice to hold above 1.42. Bears seem to be in control now and from a COT perspective we can also see long positions being taken off while shorts are being added. We can expect price to retrace back to previous resistance that is now support before we can see some larger moves to the upside. From a 4hr perspective we can see the completion of an inverted M formation and a retracement to the neckline of this structure, including a 61.8 retracement. All of this indicates a further move to the downside. Personally, I am waiting for further validation including a cut of moving averages to confirm the market environment but I feel confident that we will see a deeper pullback to 1.33. I am fundamentally bullish on GBPUSD but short term I think it's very fair to see a sell off. Longer term, Cable is in a massive uptrend and 1.33 would be a great entry price to continue this trend with high R/R. If you have any questions please comment below. - Nick
Short
by IroncladFX
7
THETA ShortM pattern forming (with 3 trendline rejections, the 3rd currently rejecting) Parabolic run up while the rest of the market was either ranging or moving up slowly Options expired yesterday, so could see a further move downwards as we have seen in the past after options expire Nearing the end of the week/month Its currently the weekend where we usually see a correction of the weeks bullish movement 2 strong rejections of the $14.50-$15.00 supply zone on 23rd and 24th March BTC is currently still in a range between $50-$55k (current price is $54k) Daily/3D/W RSI still in heavy overbought territory at 70 and above
Short
by Kai-FX
Dogeusdt Analysis: It's dead NowHello Traders! It looks like Dogeusdt Is dead now. Only Elon Musk's tweet can Save it or a deal with big names can push the price up. Let's talk about Chart analysis I am analyzing dogeusdt from 6 feb and the patterns after that all are common patterns and it forms again and again. I have also mentioned this in my analysis. Dogeusdt failed to move up from the start of J pattern which was the first support and it slipped to the second support at the bottom of the J pattern. Now it is forming M pattern which will push the market to the downside. M pattern above first support of J has a success rate of only 20% but the M pattern above the second support has a success rate of 80%. If it slipped from support it will touch 0.0200 soon. 6 feb analysis 11 feb analysis
Short
by Aadil1000x
5
AUDCHF 26 January 2021 - Daily TimeframeHi traders and welcome to my channel ... pairs in the uptrend creates a bearish rising wedge and as you can see at the end we have an M pattern and also a lower high for price and I think the price going to touch daily support at the level of 0.67433 and then up to the neckline of M pattern …and also we have consolidation in that area. All info can be found in my chart. *Support this idea with a Like or Comments if you find it useful* ... Thank you ________________________________⠀ DISCLAIMER: This Information Is Not a Recommendation to Buy or Sell. It Is to Be Used for Educational Purposes Only
by saeedmp
1
GBPJPY on the Pitchfork ChannelThe price forms Double Top or M-Pattern that it is expected to go down until the next Demand area below. After that, the price will follow its main trend direction; Uptrend on Daily. The price is expected to touch 0.5 line of Pitchfork which confluence with demand area (the grey box) before going up, or, touch the outer line; 1.0 level; of Pitchfork which confluence with the lower Demand area (the lower grey box). The short term target is the nearest supply area. *For education purposes only* *Take your own risk*
Long
by FranRizmy
GBPNZD 15M US SESSION SCALP SHORT TRADETradingstrategyguides EDUCATION GBPNZD 15M US SESSION SHORT SCALP 56 PIPS British Pound / New Zealand Dollar (FX:GBPNZD) Tradingstrategyguides Trend Analysis Chart Patterns Technical Indicators mpattern Inverted Hammer swinghigh pinhammer stophunt engulfment fibarclevels tradingstrategyguides 15m 1st Chart 7 AM EDT - Bearish Reversal M Pattern developed - Trade Bias Short 2nd Chart 6:45 am EDT - Inverted Bearish Green Body Hammer created swing high 7 am EDT - 2nd candle is a High Bull candle. High Bull candle is highest green candle body that closed. We are going to use the bearish wick low of the High Bull Candle as the level for the engulfment breakout to take place. 1st engulfment is the 7:15 am candle body engulfs the 7am candle. The breakout 2nd engulfment candle is the 7:45 am candle. 7:45 am EDT candle is a Pin Hammer candlestick . The bullish wick of this candle is a stop hunt into the high of the inverted Bullish Hammer . This is a stop hunt for those traders who entered a short trade from the inverted hammer entry bullish signal to hit their breakeven stop level. 7:45 am EDT - ENTRY - Short Stop Order made at High Bull candles low @1.9115 . Stop Loss above inverted hammer's high. Take Profit found using the Fib arc indicator adjusting levels every 100% up 600% level for Take Profit levels. Measured Move levels are calculated from a fib arc indicator
Education
by Tradingstrategyguides
3