Rectangle
Dollar Index (DXY): Trading Plan Ahead of the FED 💵
Dollar Index keeps consolidating.
The market is stuck within a narrow range on a daily.
It feels like the market participants are waiting for the FED interest rate decision next week.
Pay attention to the boundaries of the range.
Its bullish breakout will be a strong bullish confirmation.
A bullish continuation will be anticipated at least to 104.15 level then.
If the price violates the support of the range and closes below that on a daily,
a bearish continuation will be anticipated to 102.22 support.
Patiently wait for a breakout, it will give you a strong confirmation.
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Crude Oil Impulse Done ?Pair : US Oil
Description :
Bullish Channel as an Corrective Pattern in Short Time Frame and Rejection from Upper Trend Line. Completed " ABC " Corrective Waves and " 12 " Impulsive Waves and making its " 3rd " Impulsive Wave. Break of Structure and Completed the Retracement
AUDNZD: Bullish Move From Key Level 🇦🇺🇳🇿
I really like how AUDNZD reacted to a key horizontal support on a 4H time frame.
After its test, the pair started to consolidate and formed a horizontal range.
Breakout of the resistance of the range was a strong bullish signal.
We see a positive bullish reaction now and can anticipate a further growth.
Goals: 1.0814 / 1.0828
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US2000 Horizontal Range PlayPrice has been trading inside of a horizontal range for some time now. On the previous run up to resistance there was a range breakout that quickly fell back inside the range, more than likely trapping those who bought the breakout. The 2000 price level is now potentially serving as an important barrier just under range resistance. If this area continues to hold, then I expect an eventual move towards and possibly down to 1640, which is range support.
GOLD (XAUUSD): Intraday Bearish Setup 🥇
We got 2 peculiar breakouts on Gold.
As you know, the market was consolidating for roughly 1 week.
Consolidating, the price formed a triangle and a horizontal range.
We see a breakout of both the support of a triangle and the range.
It confirms the local strength of the sellers.
The price may drop to 2006 support.
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BTC Short every POP until 31500As per see on the chart BTC has been over bought on the weekly timeframe it needs to come back and the test the lower support level to continue after halving lets see if we can see 31500 in coming months ......... next 3 to 4 months is the downtrend. NFA
Bank Nifty: Rectangle Breakout signals potential UPSIDEOver the past few days, NSE:BANKNIFTY has experienced a downtrend, presenting an opportunity for traders to analyze a potential reversal through the formation of a rectangle pattern. The rectangle pattern is a horizontal consolidation pattern characterized by parallel support and resistance levels. It indicates a period of market indecision, where buyers and sellers are in a relative balance. The breakout has occurred above the neckline or resistance zone, suggesting a shift in market sentiment.
Breakout Confirmation: Traders should patiently wait for a clear breakout above the neckline or resistance zone. The breakout should be confirmed by the closing of a candle above this level, indicating a shift in market sentiment towards the bullish side.
Entry Point: Execute the trade on the day of the breakout, preferably after the closing price has convincingly breached the neckline. This ensures that the breakout is genuine and not a false signal.
Target Calculation: The target for the trade can be determined by measuring the distance between the low of the rectangle pattern and the neckline. This distance is then added to the breakout point, providing an estimate of the potential upward movement.
Retest Possibility: Be prepared for the possibility of a retest of the neckline after the initial breakout. This is a common occurrence, and traders should not be alarmed by a temporary pullback.
Risk Management:
Stop-Loss Placement : Mitigate potential losses by setting a stop-loss order below the neckline or the breakout point. The level of the stop-loss should be determined based on individual risk tolerance and the volatility of the asset.
Risk-Reward Ratio
: Evaluate the risk-reward ratio before entering the trade. Ensuring that potential profits outweigh potential losses is crucial for effective risk management.
Intel - Clear StructureHello Traders, welcome to today's analysis of Intel.
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Explanation of my video analysis:
In 2022 Intel broke a massive previous support level at the $45 area towards the downside. This break was followed by a drop of roughly -50%. With a perfect retest of a very long term structure level, this recent pump on Intel was quite anticipated. If Intel pulls back to the previous support level mentioned in the analysis, I am looking for potential long setups.
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I will only take a trade if all the rules of my strategy are satisfied.
Let me know in the comment section below if you have any questions.
Keep your long term vision.
Nifty 15 Min Chart Analysis for 23/01/2024Nifty is trading in 180 points range from last 2 days . if nifty crosses above 21690 we will go long with strict stop loss and if bank nifty goes below 21480 we will take a short position.
Bitcoin technical analysis (bearish, weekly)Bitcoin shows major signs of weakness at this moment on the weekly chart. We have a bearish divergence on the RSI indicator, which cannot be ignored. Also, we have a shooting star candle, which is probably the most bearish candle that exists in the price action. This bearish candle will be confirmed if we break the low of it, which is 41500.
How deep can bitcoin dive? There are 2 major supports on the weekly chart. The first is the POC of the previous market structure in confluence with the strong liquidity point at 36707 (stop losses of others). The second support is the start of the major gap at 34025. If these 2 support fail for some reason, the next support would be 28000, which is the end of the major gap.
I am bearish on Bitcoin, and this is my current outlook on the weekly chart. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
7203 - 4 months RECTANGLE══════════════════════════════
Since 2014, my markets approach is to spot
trading opportunities based solely on the
development of
CLASSICAL CHART PATTERNS
🤝Let’s learn and grow together 🤝
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Hello Traders ✌
After a careful consideration I came to the conclusion that:
- it is crucial to be quick in alerting you with all the opportunities I spot and often I don't post a good pattern because I don't have the opportunity to write down a proper didactical comment;
- since my parameters to identify a Classical Pattern and its scenario are very well defined, many of my comments were and would be redundant;
- the information that I think is important is very simple and can easily be understood just by looking at charts;
For these reasons and hoping to give you a better help, I decided to write comments only when something very specific or interesting shows up, otherwise all the information is shown on the chart.
Thank you all for your support
🔎🔎🔎 ALWAYS REMEMBER
"A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist"
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⚠ DISCLAIMER ⚠
The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
Bear FlagLook to ride the wave down
Bearish Flag Pattern
Retested residence level looking for new support
Short or Sell
AUDUSD RECTANGLE CHANNELGreetings Traders! Welcome aboard! Today, let's explore AUDUSD for an exciting trading opportunity. The upper trendline breakout stands at 0.67286, while the lower trendline breakout is at 0.66480. Notably, the price has recently broken below the lower trendline at 0.66480, suggesting a potential bearish scenario. Targets are determined by measuring the rectangle channel's height to 100%, setting our goal at 0.65329. Stay tuned for updates and happy trading!
AUDCHF: Trend-Following Opportunity 🇦🇺🇨🇭
AUDCHF is trading in a bearish trend.
After a strong selling wave, the pair was consolidating for 2 weeks
within a narrow range on a daily.
Yesterday, the support of the range was broken.
We see its retest now.
I expect a bearish movement lower.
At least to 0.5636 level.
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Pendle is pumping, how much % can it make? (342%)Pendle is one of the stronger coins currently on the crypto market. We can see that we have had a pretty long consolidation where whales were accumulating coins. Of course they want to make money, so they sent the coin to the upside. We can see that the uptrend is starting to be parabolic, which is very good because you can make a lot of money in a short period of time. My profit target is the 2:2 FIB extension, which is 342% profit from the current price if you buy the coin right now.
About Pendle - Pendle is a protocol that enables the tokenization and trading of future yield. With the creation of a novel AMM that supports assets with time decay, Pendle gives users more control over future yield by providing optionality and opportunities for its utilization.
Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Microsoft (MSFT) - Looking Promising here on break of RectangleYields are starting to slide and this should be bullish for stocks overall.
MSFT has been doing fantastically well this year and I am expecting all time highs in the next week. Convincing break of 350 (bullish close on the daily) should set it free towards 400.
10 week EMA is now above 20 EMA. MSFT has momentum behind it.
390 remains the initial target.
Axis Bank Daily Chart Analysis Axis bank is currently trading in rectangle pattern . if stock gives a breakout of this rectangle above 1150 we will take a swing position with stop loss of 1080 and for target of 1550
DATA (Streamr) is ready for a massive pump (2811%)DATA is starting something really huge. We can see that whales accumulated for a long time and now the price is breaking out of the accumulation phase. If we take a look at the volume indicator, we can see that the volume is astonishing. This definitely confirm our bullish bias. 2811% profit is not a sci-fi, but a real deal. Elliott Wave ABC corrective pattern is complete. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades!
Streamr (DATA) is a project focused on seamless data exchange and monetization of this data. It’s a peer-to-peer (P2P) network for real-time data that runs on Ethereum, allowing smart contracts to be used to facilitate the exchange process.
Broker nodes are the key element of the network, which work as follows: data is received from providers (also called publishers) and transmitted to consumers – this is the publish/subscribe pattern that the network uses. Sponsors (which may be publishers) pay DATA tokens into a smart contract (called a Bounty) to secure the operation of the stream. The data stream is secured by broker nodes mining Bounties, and relayed to subscribers through publisher or broker nodes (data streams are segmented).
A number of technologies that have been developed to optimize Streamr are a hierarchically organized complex called the Streamr Stack. This complex supports uninterrupted data transmission in the Streamr network and consists of five blocks: smart contracts (responsible for optimizing relations between participants in the network's information market); streamr editor (a set of programming tools developed for the purpose of the project); streamr engine (responsible for analyzing, processing, refining data and monitoring network events); data market (a center for data streams and a platform where data is transmitted and received); streamr network (used to transfer data). Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades!
STX is one of the best performing high-caps. Buy now?STX is a very important coin for Bitcoin. STX is a Bitcoin Layer for smart contracts. Why do I think you should buy this coin? We have to take a look at the price action first. We see that we have multiple similar swings high at around 1.75, which is a very bullish sign. From the Elliott Wave perspective, we see that we have a strong combo of (1)(2)(1)(2). The previous all-time high is the next stop, but I believe we will go much higher this year. You can hold it for the long term as well. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades!
Stacks is a Bitcoin Layer for smart contracts; it enables smart contracts and decentralized applications to use Bitcoin as an asset and settle transactions on the Bitcoin blockchain.
Bitcoin is the largest, most valuable, and most durable decentralized asset. The Stacks layer unlocks $500B in BTC capital using the Bitcoin L1 as settlement for decentralized applications.
Stacks has knowledge of the full Bitcoin state, thanks to its Proof of Transfer consensus and Clarity language, enabling it to read from Bitcoin at any time.
All transactions on the Stacks layer are automatically hashed and settled on the Bitcoin L1. Stacks blocks are secured by 100% Bitcoin hashpower. In order to re-order Stacks blocks/transactions, an attacker would have to reorg Bitcoin. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades!
AUDCHF: Waiting For The Next Move 🇦🇺🇨🇭
AUDCHF is trading within a narrow horizontal range,
after a formation of a strong bearish impulse.
I believe that selling volumes are currently accumulating.
Our trigger to short will be a bearish breakout of the support of the range.
4H candle close below 0.5675 will confirm the violation.
A bearish continuation will be anticipated at least to 0.5645
Alternatively, remember, that a bullish breakout of the range will most likely push the prices higher.
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NIFTY BROKE OUT OF RECTANGLE PATTERN & REACHED TARGET
RECTANGLE PATTERN BREAKOUT WITH GAP-UP :
Market broke out of previous rectangle pattern with a solid gap-up which indicated strong bullish momentum
REVERSAL FROM 100D SMA :
Market also reversed from 100D SMA on 1-hour chart which also made it a strong signal
VOLUME SURGE :
Alongwith gap-up opening volume also surged on 1-hour timeframe which also indicated very strong momentum behind it
MACD BULLISH CROSSOVER :
MACD also made bullish crossover at sufficient angle (neither too steep nor too low) which gave even more positive confirmation
