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GJ - MONTHLY TIMEFRAME PROJECTION + ANALYSISPrice is now hovering in a Fib from the previous high on the Monthly TF. It has reacted to it and dipped but I'm not too sure how it is going to continue reacting for the time being. I only trade 1 or 2 pairs max at a time and GJ is one of them but i won't be entering until it breaks out indefinitely or shows me some kind of direction/bias. It can either respect market structure and continue to make a LH and continue bearish or it can remove all liquidity and continue bullish (Which makes more sense). It looks too pretty to be bearish - So I am favoring it to go bullish at some stage. Again - I'm not sure when but I have a couple areas that I'm waiting for it reach and give me confirmation at on the lower time frames (Haven't uploaded yet). And just like AJ It depends on the depth of the pullback and how much liquidity is sitting beneath price currently because its looking like the most cost-effective path for the banks to take price higher and remove all sellers. Disclaimer: This is how I personally draw my charts and it's the first time I have started posting them. So, if there's not many drawings or explanations it's because i don't write them all out or draw them all out for my own analysis. I like my charts to be quite clean so i put as little on them as possible. :)
Long
by Pmilanoxx_
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
Most Misguided PatternsHello Traders! Welcome back to another trade with Analyst Aadil1000x. Today I am posting some education posts which I found necessary to post and share with the public. Have you ever wondered if you figured out a pattern perfectly and try to trade it and you lost and then you wait for the same pattern to reappear and try to trade that pattern in a more perfect manner and you still lose? The reason is you have been taught wrong. Nearly 100% of the patterns that are roaming on the internet are wrong and it will lead to a loss. I have posted some patterns to make money easily. Trading is a game of probability and if you trade my way then the win probability will be higher than 70% and if you follow the traditional way then I am sure your probability will not be more than 30%. Don't forget to hit the like button and follow to stay connected
Education
by Aadil1000x
1
SPY New High - likely headed higher.Are you following my research yet? Check out my SPY Cycle Patterns and decide for yourself if my predictions are accurate: SPY Cycle Patterns for this week: 1/15/2023 GAP Potential 1/16/2023 GAP-Reversal 1/17/2023 Breakdown201 1/18/2023 POP 1/19/2023 1/20/2023 BaseRally301 1/21/2023 Break-Away 1/22/2023 Rally-111 1/23/2023 Carryover 1/24/2023 Inside-Breakaway 1/25/2023 Harami-Inside 1/26/2023 CRUSH 1/27/2023 Rev-Rally Now, using traditional Fibonacci price modeling, we can see the recent support level held and a New High was reached. This indicates the SPY will likely attempt a bit of consolidation/rotation over the next 4+ days, but will likely rally even higher in early Feb. Follow my research. It's simple and easy to follow.
AMEX:SPYLong
by BradMatheny
🔠 The ABCD PatternThe ABCD is a basic harmonic pattern. All other patterns derive from it. The pattern consists of 3 price swings. The lines AB and CD are called “legs”, while the line BC is referred to as a correction or a retracement. AB and CD tend to have approximately the same size. A bullish ABCD pattern follows a downtrend and means that a reversal to the upside is likely. A bearish ABCD pattern is formed after an uptrend and signals a potential bearish reversal at a certain level. The rules for trading bullish and bearish ABCD patterns are the same, you will just need to take into account the direction of the pattern you trade and the movement of the market it predicts. 🔷Classic ABCD The point C should be at 61.8%-78.6% of AB. The point D, in its turn, should be at the 127.2%-161.8% Fibonacci expansion of BC. Notice that a 61.8% retracement at the point C tends to result in the 161.8% projection of BC, while a 78.6% retracement at the C point will lead to the 127% projection. 🔷AB = CD Here CD has exactly the same length as AB. In addition, it takes the market the equal time to travel from A to B as from C to D. As a Result, AB and CD have the same angle. This type of ABCD pattern is seen quite often and is popular among traders. 🔷ABCD Extension ABCD extension refers to when CD is the 127.2%-161.8% extension of AB. CD can be even 2 times (or more) bigger than AB. There actually are some signs that can hint that CD will be much longer than AB. They are a gap after point C or big candlesticks near point C. 📊Trading with ABCD pattern The key thing you should remember is that you can enter the trade only after the price reached the point D. Study the chart looking at the price’s highs and lows. It may be helpful to use ZigZag indicator (Insert – Indicators – Custom – ZigZag) that marks the chart’s swings. Watch the price as it forms AB and BC. In a bullish ABCD, C must be lower than A and should be the intermediate high after the low at B. Point D must be a new low below B. When the market arrives at a point, where D may be situated, don’t rush into a trade. Use some techniques to make sure that the price reversed up (or down if it’s a bearish ABCD). The best scenario is a reversal candlestick pattern. A buy order may be set at or above the high of the candle at point D. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
2
❗️USE STOP LOSS AND BECOME A BETTER TRADER❗️ 🟩STOP LOSS IS:A stop-loss order is an order that automatically closes a losing position once the price hits the pre-specified level. We usually calculate SL in pips, but there can be many ways to set it. It can be time based, percentage based or volatility based. For some investors SL is some piece of critical news, which alters their perception of the value of the asset. Regular stop losses can be many and varied too, for example trailing stop. Also, we sometimes move SL to entry after the half close to protect the gains and make our position risk free.However, all situations I listed above have one thing in common and it is the fact that the SL was used! 🟥Honestly, I am amused by the massive number of people who send me screenshots of their MT4 with several open trades on the same pair all of them without SL and with 90% of account lost. And they ask me what should they do? A great illustration of what is would take to recover from such a loss, is on the drawing above. With the 90% loss, you have only one tenth of the original account left. That means you need to make ten times more money than you have left just to recover your losses. 999% gain needs to be made just to have your old account back. It took you a day to blow it, and might take months to recover the losses. This is the brutality of the trading. The market is unforgiving and will punish you if you treat is without respect. If you are careless or if you make mistakes. The market always comes back to collect, waiting for the moment you drop your guard and relax for a second. Please always use Stop Loss, because, as it happens, it stops you from losing too much! I Hope you guys learned something new today✅ Wish you all Best Of Luck👍 😇And may the odds be always in your favor😇 Do you like this post? Do you want more articles like that?
Editors' picks
Education
by ProSignalsFx
119
BTCUSDT is testing the KEY level!Bitcoin hit 20k as I told you in my previous analysis after a clear breakout and retest of Ascending channel. Now the price is testing the key level, where this dump began, and where the market printed the previous HL on the daily timeframe. On the Daily we can spot a clear W pattern, usually, the market wants to retest its neckline. In that case, the neckline is on 0.618 Fibonacci level on the daily timeframe, About the 4h timeframe, we can see a false breakout above the local HH and on the 4h supply. What's next? If the price is going to lose the 4h support on 20k and retest it as new resistance, we could see a retracement until the 0.618 Fibonacci level. Otherwise, If the market is going to close with a volume above 21600, we could see a new bullish scenario. Bank Holiday in the USA (Martin Luther King Jr. Day)
by InkyGrip
6
BTC. Is that was bottom? Ready for a LEG UPWhy such sentiments. The monthly stochastic is oversold. At 4 h, a double bottom is possible. On D1, if the double bottom works, then the scheme with inverted H&S will probably work. Which can be considered if zoom out chart. Overbought on the D1 chart as a whole with a strong uptrend does not say anything. You can look at the last bull run. I don't trade by patterns. I'm more of an Ema trader. But you can find reversal patterns on 4h/d1/w1 on almost all alts. Also, dxy is in approximately the same conditions relative to the EMA as in July 2020. If I'm right, then this is the bottom and an interesting trip awaits us. If not, you can throw bears hats at me. I will sell them and with this money I will be able to survive until the next bull run.
Long
by NT_crypto
2
The Doube Bottom Pattern - Bullish PatternThe **Double Bottom** is a price action pattern that is indicative of a trend change once activated. Price needs to establish a bearish expansion towards the lows before reversing with an impulse. The impulse then needs to get sold into; this will create a retest of the previous low that must hold. Price action will establish a “W” structure which become a sign of demand that leads to a bullish expansion. Key Characteristics of the **Double Bottom** - Price Action must first establish a bearish expansion - The retest of the previous low most hold - A ‘W’ like formation will confirm demand at the lows
Education
by AzizKhanZamani
1
Playing ranges in BitcoinIn the previous post we explained how Bitcoin is changing and showing some range pattern instead of a bubble behaviour. It's important to adapt your trading style to market style, if you are still expecting crazy rallies in BTC you can be stuck here for months or maybe year. Today we show you how we analyze the prices between long term ranges (green lines) and you can see ranges of +2% aprox. Please note that this is not a math class, so ranges can slightly vary and ranges only means more probabilities of offer or demand to appear and change the short term trend. Trading near support and resisances offer a great risk reward ratio, so just enjoy until the price moves to the next big range. The chart is showing a long and short trade idea, so feel free to adapt to your trading needs. Good luck It's highly reccommended to see the previous post, see related ideas.
BITSTAMP:BTCUSDLong
by TopChartPatterns
1
📊 Understanding the Cup and Handle PatternA cup and handle is a technical analysis pattern that appears on a chart as a U-shaped pattern, followed by a small downward drift, resembling a handle. It is important to note that like all technical analysis patterns, the cup and handle pattern is not a guarantee of future price movements and should be used in conjunction with other analysis techniques. 📈Cup and Handle It is considered a bullish pattern and is often used by traders to indicate the potential for an upcoming price increase. The pattern is formed when the price of a security falls, reaches a bottom, and then rises back up to near its previous high before falling again. The downward drift that follows is the handle. The pattern is considered complete when the price breaks through the resistance level (the top of the cup) and continues to rise. Technical traders using this indicator should place a stop buy order slightly above the upper trendline of the handle part of the pattern. 📉Inverted Cup and Handle After the cup forms and the beginning of a noticeable handle takes shape, begin to monitor trading volume closely. One way to think of the inverted handle is a follow-up to an inverted cup. The inverted handle retraces the initial move, but not to the level of the original trend. Once you see a retracement in the form of an inverted handle of the original inverted cup pattern, setting a stop loss while selling the trend could be a potential trade idea. 👤 @algobuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work , Please like, comment and follow ❤️
Education
by QuantVue
ROKU Reaching an Inflection PointI recently started looking at Fibonacci arcs and circles. I see them as something similar to support and resistance lines. Charts have an uncanny way of touching support and resistance lines. I've drawn arrows where the chart touched or came very close to touching the two circles I drew. I noticed that ROKU is very close to reaching an inflection point where the circles intersect around January 30th. The lower circle also intersects with a support level of 26.64 around March 7th. I've labeled this the Inflection Area. After reaching this area, the price action could head much lower or even higher. I'm not saying that to make sure I'm not wrong, I'm saying it because I don't know. The major bearish double-top pattern from 2021 may have reached the end of its influence, but I think ROKU will reach the support level of 26.64 at least. After that is anyone's guess. Disclaimer: I am not a financial advisor, and the above statements are not investment advice. My comments are only intended for educational purposes. You are solely responsible for your own trading decisions.
NASDAQ:ROKU
by cdnbuzzard