trading Bitcoin within a trading rangetrading Bitcoin (BTC) within a trading range or "box." Here's a breakdown of your strategy:
Entry Point: Buy Bitcoin when its price reaches the bottom of the trading range or the "box." This implies buying when the price is at the support level of the range, which is a common approach in range-bound trading.
Exit Point: Be prepared to sell Bitcoin if it closes a trading day outside of the box. This would signal a potential breakout from the range, and you aim to profit from the price movement that follows the breakout.
Emergency Stop Loss: Set an emergency stop loss at 2 Average True Range (ATR) levels below your entry point. This stop loss is designed to limit your potential losses in case the trade moves significantly against you.
Price Target: Your target for taking profit is the 200-day Simple Moving Average (SMA), which you expect to act as resistance. This means you intend to sell when Bitcoin's price approaches the 200-day SMA.
Rectangle
Bitcoin - Secret patterns for professional traders!
The price of Bitcoin is forming a head and shoulders pattern inside this descending parallel channel! Both of these patterns are bearish, so the probability of going down is really high at this moment. To become bullish, Bitcoin needs to invalidate both patterns. Then we can think about a long position, but at this moment, not at all!
You probably want to trade with a trend, and the trend is bearish on this particular timeframe. But in the immediate short term, we could go up to form the right shoulder of the major pattern; of course, that would be an excellent opportunity to short bitcoin at a great price!
Where is the profit target for the big short? I already market it on the chart, and it's between 23064 and 22853 because it is the POC of the previous expanding triangle + 1:1 FIB extension (wave 3 -> 4).
As per my Elliott Wave analysis, last week we printed a new impulse wave, which is very clear and visible. Everything in confluence suggests that we are bearish, and continuation of the downtrend is extremely likely and almost definitely a guarantee. Sooner or later, we will break the support of 25k.
This is my outlook on BTC for this month; do not forget to let me know in the comment section what you think about it and if you are prepared for another crash. I need to know your opinion!
This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately.
Thank you, and for more ideas, hit "Like" and "Follow"!
USDCAD: Classic Trend - Following Setup Explained 🇺🇸🇨🇦
USDCAD is trading in a bullish trend.
After a strong bullish rally, the pair was consolidating for 2 weeks within a horizontal range.
The resistance of the range was broken on Thursday.
It is an important sign of strength of the buyers.
The pair will most likely keep growing next week.
Goal - 1.374
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OPUSDTOPUSDT is in strong bearish trend and also form bearish rectangle pattern. Recently the instrument has break through important support zone.
Now the price is trading within the rectangle and seems like it getting ready to break it.
Will the sellers took benefits from these bearish confluences?
AUDUSD: Top-Down Analysis & Trading Plan 🇦🇺🇺🇸
AUDUSD is currently consolidating within a wide horizontal range on a daily.
The price is approaching a support of the range at the moment.
I spotted one more range on a 4H time frame.
A breakout of its resistance can be a good confirmation to buy the pair.
4H candle close above 0.6405 will confirm the violation.
A bullish move will be anticipated to 0.6437 / 0.646 levels then.
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BluetonaFX - AUDUSD Looking For DirectionHi Traders,
AUDUSD has been stuck roughly in a 165-pip range for the past few weeks and is looking for a direction to continue in. Looking at the price action on the 3H chart, we have drawn the supply and demand zones for you to see. There have been numerous price rejections at the supply zone; the demand zone is at its yearly low of 0.63574. The price action is leading to the bearish side for a few reasons: firstly, the market has rejected any upside push to the supply area around the 0.65000 area; secondly, there has been no momentum push to the upside when the market reaches the demand zone, which indicates a lack of buying power; and lastly, we are still under the 20 EMA.
That being said, to continue with a bearish bias, the market must break the yearly low at 0.63574 with momentum to continue down. If this does not happen, there is likely to be price rejection here, and we are likely to head back up towards the 0.64000 area.
Please do not forget to like, comment, and follow, as your support greatly helps.
Thank you for your support.
BluetonaFX
Bitcoin will go UP by Falling Wedge Pattern🚀(15-Min)🏃♂️Bitcoin has been moving in a Rectangle Pattern for over 36 hours , although we have seen 🐮 Bull Trap 🐮 and 🐻 Bear Trap 🐻 in this pattern.
➕Bitcoin is currently moving near the lower line of the Ascending Channel and the Support line .
➕Also, in the middle of the Rectangle Pattern, Bitcoin has succeeded in forming a Falling Wedge Pattern .
🔔I expect Bitcoin to Attack the upper line of the Rectangle pattern after breaking the upper line of the Falling Wedge pattern.
Bitcoin Analyze ( BTCUSDT ), 15-minute time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
BTCUSD is in a Bearish Rectangle PatternThe price is consolidating for a while during a downtrend on 1HR time frame.
Bears are catching their breath before pushing the price further down.
No divergences have been noted.
Verdict: Bears to win.
SILVER (XAGUSD): Important Key Level to Watch 🪙
Silver is currently testing a key horizontal demand zone.
Taking into consideration that the market is quite oversold after a strong bearish rally,
we may see the pullback from the underlined area.
Your confirmation to buy will be a bullish breakout
of a neckline of a horizontal range on an hourly time frame.
Hourly candle close above 23.2 will confirm the violation,
a pullback will be expected to 23.33 / 23.45 levels then.
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Seizing the Opportunity on AUDJPY Triangle Exit or Entr"Capturing Potential Gains: AUDJPY in the 1-Hour Channel, Triangle Formation, and a 1:2.65 Risk-Reward Ratio Strategy.
Currently trading at the upper boundary of its channel on the 1-hour timeframe, nestled snugly between the 50 and 200 EMA lines. The chart reveals a triangular pattern forming.
You have two options.
the patient approach: Wait for AUDJPY to make its move out of the channel, then re-enter upon a retracement.
for the more aggressive one. Seize the opportunity now, while the price rests near the channel's upper limit.
The Risk-Reward Ratio stands at a promising 1:2.65
Set your first Take Profit (TP) level equal to your Stop Loss (SL). When TP 1 is reached, move your SL to break-even, and decide whether to manage your trade manually or wait for TP 2 to hit.
"Remember, your Stop Loss is like wearing a helmet while riding a bike – it's your essential protection in the trading journey!"
AUDNZD: Your Trading Plan Explained 🇦🇺🇳🇿
One more instrument that we discussed on the today's live session is AUDNZD.
The market is currently testing a confluence zone based on a rising trend line and a horizontal support.
To buy the pair with a confirmation, wait for a bullish breakout of the resistance of a horizontal trading range on an hourly time frame.
You need an hourly candle close above 1.0859 to confirm the violation.
A bullish continuation will be anticipated to 1.0878 then.
Alternatively, a bearish breakout of a trend line will be a strong bearish signal.
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USDJPY: Bullish Continuation is Coming?! 🇺🇸🇯🇵
USDJPY is trading in a long-term bullish trend.
Since the middle of August, the pair was consolidating within a horizontal range, though.
The price suddenly bounced yesterday and closed above the resistance of the range.
That violation will most likely trigger a trend-following movement.
Next resistance -148.5
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BITCOIN - Horizontal Support zoneBitcoin has been under some pressure of late as it battles to hold onto the $29000 level but still trading within a bigger range.
It's currently at a horizontal support zone and below the 200dma. A break of this zone opens the gate for a down leg to target $21500. Alternatively, bulls recapture the 200dma and attempt the upside break again.
$SPY September 6,2023.AMEX:SPY September 6,2023.
As expected, 449 was held and on upside the last fall 453.67 to 449.68 the retracement was held at 61.8%.
We have seen many times that in lower time frames like 15 minutes the numbers always retraces back to 200 averages and a swift move happens.
The fall 453.67 to 449.68 has 452 as 61.8% retracement.
AMEX:SPY closed below all moving averages and 200 is sloping upwards.
Hence i expect 446-447 as target.
This supported by stochastics black bar at bottom. Elliott oscillator red and CCI red.
Now we had 2 numbers 452.83 and 453.67.
If we take them as wave 3 and wave 5 top then ABC is on.
449.18 to 451.06 to xxxx being C.
That i expect to be around 446 levels.
All numbers valid without gaps as usual.
For the day i will short 451-452 levels SL 453.8 levels for 446. Else If 449 breaks, then will take a short for 446 levels.
No long today as per current chart in 15 minutes until 454 is crossed.
Dow Jones Index (US30): Detailed Technical Analysis & Strategy
Multiple time frame analysis for US30.
Price action & important key levels.
Directional bias & thoughts.
Trading plan explained.
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GBPCADGBPCAD is trading in almost symmetrical triangle pattern. The price is reacting well the support and resistance of triangle.
Currently the price is at the support of triangle where it is also forming a local support zone and seems like the price may break through the triangle.
If the breakout sustain to upside the optimum target could be 1.7220.
What you guys think of this idea?
Bullish Breakout in UltraTech CementPrice was in solid uptrend from last few months and started consolidating in a range from past few days.
Today the price brokeout of that range and closed above it with a good volume as well.
I expect price to continue to rise further atleast till 8930.
Entry can be intiated at CMP.
Stop loss below the low of breakout candle.
Bullish rectangle in USDJPY 1HBullish rectangle formed after Non-farm payroll (NFP) last Friday.
Bulls may try to break rectangle upwards.
Will we see 146.405 (20 pips) and 146.53 (33 pips)?
Let's find out this week.
Bitcoin - Bull trap of the year! (fake pump)
Bitcoin pumped significantly, but it's definitely a bull trap, so do not fall for it! We can see that the chart is printing a huge head and shoulders pattern, which is a very bearish sign.
This pattern is not confirmed yet as the neckline is holding, but the price is below the major blue trendline, which increases the probability of a breakdown!
The trend is not bullish anymore, and this pump is a great opportunity to short Bitcoin.
Where to take profit or buy bitcoin? I strongly recommend the 0.618 FIB retracement in confluence with the CME unfilled GAP. This is an extremely strong support, and we should see the start of a new bull market or at least a significant bounce from it!
I don't know about you, but I am bearish! Let me know in the comment section: are you bullish or bearish? I want to know your opinion!
Altcoins don't look good at all. I can see a huge crash on DOGE (70%). This indicates to me that Bitcoin is still not ready for a bull market.
This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately.
Thank you, and for more ideas, hit "Like" and "Follow"!
GBPUSD RECTANGLE CHANNELHello Traders and Welcome,
Today, we have an exciting trading opportunity on GBPUSD. The price has shown interesting behavior around the levels of 1.2800 and 1.2600. By connecting these rejection points, we can draw two parallel lines above and below, forming a support and resistance zone.
Now, let's unlock the vault and explore the patterns that GBPUSD is showcasing. One pattern that stands out is the Rectangle Channel.
**Rectangle Channels:**
Rectangle Channels are powerful tools for identifying potential trading opportunities. They're characterized by two parallel lines that define a trading range. Price tends to bounce between these lines until a breakout occurs.
🔍 If you'd like to learn more about Rectangle Channels, feel free to visit my profile for in-depth insights.
Let's dive into two setups, one for a Long strategy and one for a Short strategy:
**Long Strategy:**
- Entry: Above the upper trend line breakout at 1.28188
- Stop Loss: Mid-channel at 1.27174
- Targets:
- 50%: 1.29227
- 100%: 1.30239
**Short Strategy:**
- Entry: Below the lower trend line breakout at 1.26211 (with confirmation)
- Stop Loss: Mid-channel at 1.27174
- Targets:
- 50%: 1.25153
- 100%: 1.24148
Before you leave, if you found any of my ideas helpful, I'd greatly appreciate your support. Don't forget to hit the "Follow" button and show some love by giving a "Like" to any of my ideas.
Stay tuned, fellow traders! Let's closely monitor how GBPUSD's Rectangle Channel unfolds. Remember, trade wisely and follow the movement of the GBPUSD Rectangle Channel closely.
Happy trading! 📈📊🚀
$QQQ Rectangle Pattern on hourlyNASDAQ:QQQ Rectangle Pattern on hourly
"A rectangle is a pattern that occurs on price charts. A rectangle is formed when the price reaches the same horizontal support and resistance levels multiple times. The price is confined to moving between the two horizontal levels, creating a rectangle. The concept of a rectangle is similar to a Darvas Box."
Estimating a morning pump near as it is not far from resistance and bounce back to the downside.
Please note with the indicator i am using, i take the target as an approximation and don't relay on it as the targets are not always viable and it is something i am testing.
What are your thoughts?
Thanks,
Kelly
Berger paint Longcan go long if it consolidates and breaks higher. if it consolidates and breaks lower you can go short as well as it is trading near an important resistance in the daily tf.
Bitcoin - Breakdown comingWe are one month into this price range without any resolve.
Rectangles typically break upwards. We did have a breakout but ended in a false break.
Now a pre-breakout structure is forming with price moving steadily towards bottom of the rectangle.
IMO breakdown is coming within the next few days.
