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j.Hejazi | EURCAD waiting for breakoutThe EURCAD currency pair has formed a triangle pattern with a divergence on the MACD indicator. This pattern also appears to show triple tops with another divergence. These patterns are located at a strong resistance area, as the price is touching the 200-week moving average and testing the key level of 1.46350. To consider a sell signal, the price must break the neckline of the triple tops and triangle. However, if the price moves up and breaks the moving average, it must also break the 2 yearly resistance trend lines at 1.47313 to be considered a buy signal. ---------------------- Let me know your thoughts in the comments, and show your support by liking the idea. Please follow if you're interested in more ideas like this. Your support is greatly appreciated!
Short
by Candlestick_OB
BTC 3-Day Big Picture PatternsBTC 3D chart Zooming out and looking at the bigger picture, here we are looking for patterns to see what the current trend could be telling us. 👀 BTC is currently elbowed at a cross way hitting resistance of our outer downtrend, the 100 EMA and trendline marked in red! The last time the 21 crossed the 50 Moving Average, price shortly topped the retraced back to our 21 and 50 moving averages before bouncing as it did in 2021! Could we see a repeat of this patter or something different? As always BTC will can always do the unexpected! Keep in mind, there is also another pattern with our daily Golden Cross looming! 👀
INDEX:BTCUSD
by livmac7
3
EURGBP - WEURGBP Another double bottom + TL as support! We could go further and add various other confluences but what's really important to implement your own trade plan in this idea! Double bottom, support 0.88350 areas. Drop below further than that, then I would re-think this idea. Overall stay above the support of 0.88350 and break of the key resistance that has been tested multiple times 0.88950 it's strong resistance but a break above I expect 0.89820 areas to be target. We do have ECB & BOE today... Have a great day ahead, Trade Journal
by Trade_Journal
📊 Chart Patterns Cheat SheetPatterns are the distinctive formations created by the movements of security prices on a chart and are the foundation of technical analysis. A pattern is identified by a line connecting common price points, such as closing prices or highs or lows, during a specific period. Technical analysts seek to identify patterns to anticipate the future direction of a security’s price. These patterns can be as simple as trendlines and as complex as double head-and-shoulders formations. 🔹 Reversal patterns are those chart formations that signal that the ongoing trend is about to change course. If a reversal chart pattern forms during an uptrend, it hints that the trend will reverse and that the price will head down soon. Conversely, if a reversal chart pattern is seen during a downtrend, it suggests that the price will move up later on. 🔹 Continuation chart patterns are those chart formations that signal that the ongoing trend will resume. Usually, these are also known as consolidation patterns because they show how buyers or sellers take a quick break before moving further in the same direction as the prior trend. Trends don’t usually move in a straight line higher or lower. They pause and move sideways, “correct” lower or higher, and then regain momentum to continue the overall trend. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
7
BTCUSD - TIME TO SHORT?It appears that we are currently experiencing a similar pattern to the bull run we saw in the past. During this previous bull run, we saw a sharp decline from 65K to 29K. Currently, we are seeing a similar pattern with long positions being trapped at the top and many stops being placed below 20,4K. If this pattern continues, we may see a decline towards the 20K psychological level, which would help to flush out leveraged long positions and start a new impulse from there. Additionally, there is an open gap at 20K which may also be filled.
Short
by SiDec
3
Educational (divergence + volume)Hi guys, in order to spot a divergence you should be careful which timeframe you're looking at. for example in the left picture, the daily timeframe is showing higher highs in price (at each candle) and lower highs in RSI (at each candle). but note that these are not highs and lows and as long as you can't find signs of accumulation and distribution in highs and lows (as long as there's no valid consolidation) you can't name them as highs and lows. so there's no divergence. but in the lower time frame (what is shown is 4h) you can see it more clearer that for every candle in the daily time frame, you have a specific trend in the 4H timeframe. so you can name them as highs and lows and yes, there is a divergence now. also, keep in mind that in the lower timeframe. every time you're making a new high in rsi, you should expect it to be more volatile and be more sensitive in a way that in the next new rsi high, you have less time spent in the overbought area. The next part is about the volume profile. you have less resistance in front of the price movement where there is less volume traded in the past. BUT NOT ALWAYS! less trades made in the past in an area means two things: 1- you can expect the price to move faster and sharper and take less time in that area 2- if the price wants to make a low or high or a pattern, it's less predictable and there's more chance of wrong analysis and fake patterns. Feel free to leave any comments and ask questions!
Education
by Finnovin
ADSK - Still Dropping - BearishOn the chart of Autodesk(ADSK) we can see a double top pattern. For the whole year of 2022 ADSK has been in a downtrend and it is likely to continue in 2023. The double top pattern is a bearish pattern. Once the price breaks down the neckline and turns into a resitance instead of a support the pattern gets validated and the trade can be entered. Take your profits and the target can be targeted. All further details are shown on the chart. P.S. Enter short position only if/when the price breaks the neckline! Goodluck!
NASDAQ:ADSKShort
by vf_investment
BTC bullish playout!So, as many find this as the beginning of the bullish trend , I would like to support this idea with my views on how can this play out and some cautions. So we see the bullish cross on the weekly MACD , we still should not be overbullish as MACD is below the zero line. Daily MACD is still bullish and 4H as well. By saying that 4H is bullish I mean that the price is holding or slightly decreasing for a short period of time or even increasing when 4H MACD is dropping. The same MIGHT happen with the Daily MACD . and if th COINBASE:BTCUSD is happens this will support my idea of the reaccumulation zone before a breakout, the real beginning of the trend. Also stoch RSI , and other indicators support the idea of the beginning of the bullish trend . HOWEVER, we should pay attention to things why we may still be cautious: 1) most people are getting super bullish , however, fear and greed index is not topping out any time soon 2) price can easily drop to 20k or below which might be retest of the support, but many may start to panic. So, with all said i would like to say how it is possible for price to play out in the nearest future. As some people see how bullish momentums get or are about to get now, i believe we are not breaking 25k until next months. On a monthly scale we already have a solid green candle. So if we take the rest days of this month just fluctuating in the zone it should be a good sign. Next month could start bullish at once OR may retest the support zone around 20 ( mb slightly below) or around 21.2k e.g. This still would be in a bullish frame. but may fear some bulls. In a nuthsell, i wait for a monthly candle to close first. It might close around current levels (22.8-23k) and would be good. Next months either start with a mega bullish momentum after a few daily bullish candles or with a sudden retest drop. Both are fine. If you are not holding any bullish position i suggest u take one on a monthly close. You may want to add , at some retests, if they happen around 20-21k, or even below that at 18k spike drops. But once next monthly starts being green again, supported by weekly and daily green candles, this might be a safe zone for longs. I would pay attention on the RSI breakout patterns, both MACD and RSI to confirm bullishness. What are the price targets? Right now its definitely 25-26k. We may also pierce that fast and come to around 27-28k. But things may get more bullish so we never know where the local top may be. It may go even to 47-50k. BUt for now 30kish zone might be a local resistance and a juicy place for profits. But even when people close their long positions, this is the time when the price can get even more bullish , since u borrow dollars to buy bitcoins to close those perpetual contracts.
BITSTAMP:BTCUSDLong
by judg1k
1
BTCUSDT: Bulls are still in controlHello Traders! Welcome back to another post with analyst Aadil1000x. This Analysis is the correct version of the previous Analysis. On Jan 22nd I posted the Analysis of BTC which I analyzed out of excitement where I pointed out a set of multiple patterns in a single pattern or is a beauty of the market that tricks the eyes and put us in an illusion. Those who put a set of patterns in single patterns are making a mistake. Once the pattern is broken towards both sides then its strength is over and the market will look for new patterns. If we look at the final pattern in the zone which is expanding triangle Market breaks it towards the downside but it failed to break towards the upside. Now after a Huge dip market is coming back to break that line and it will be the end of the bulls. After breaking unbroke line market will form a reversal pattern. We will short after the reversal pattern is complete. There is a chance that the reversal pattern will be big and can extend to 29327 True crash point. TCP will work with pinpoint accuracy as it is newly designed and has huge potential. Don't forget to hit the like button and follow to stay connected.
by Aadil1000x
Learn a Triple Top Pattern | Classic Reversal Pattern You Must 🟢What is the Triple Top Pattern? A triple top chart pattern is a bearish reversal chart pattern that is formed after an uptrend. This pattern is formed with three peaks above a support level/neckline. The first peak is formed after a strong uptrend and then retrace back to the neckline. The formation of this pattern is completed when the prices move back to the neckline after forming the third peak. When the prices break through the neckline or the support level after forming three peaks then the bearish trend reversal is confirmed. 🟢Trading the Triple Top There are some rules when trading the Triple Top chart pattern. ✔️Firstly one should identify the market phase whether it is in uptrend or downtrend. As the triple top is formed at the end of an uptrend, the prior trend should be an uptrend. ✔️Traders should spot if three rounding tops are forming. ✔️Traders should only enter the short position when the price breaks out from the support level or the neckline. 🟢Stop Loss In the case of a Triple Top chart pattern, the stop loss should be placed at the third top of the pattern. 🟢Price Target The price target should be equal to the distance between the neckline and the tops, also taking into the account the key levels below. Like, comment and subscribe to boost your trading! Hey traders, let me know what subject do you want to dive in in the next post?
OANDA:XAUUSDEducation
by TopTradingSignals
11
Rectangle Pattern In EUR/CAD With Tutorial On How To Trade It Rectangle pattern Consists of Up trendline + strong resistance in order to know where the price will go next just check where the price will break first * if the resistance is broken : you can wait for a good retest and enter a buy trade as this will help in having a small stop loss * if the tendline is broken also wait for a retest to enter sell or you can wait for the final higher low to be broken to confirm the movement to the downside
by Forex_Wealth_Factory