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$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.
AMEX:SPYShort
by RiderTrader
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"!
Short
by UnknownUnicorn2537518
192
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! 📈📊🚀
by TradeChartPatternsLikeThePros
6
$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
NASDAQ:QQQShort
by angelbaetrades
CHFJPY RECTANGLE CHANNEL📢 **Hello Traders!** Today, we're turning our attention to the CHFJPY currency pair, which is flashing some interesting signals for potential trading opportunities. On its hourly chart, CHFJPY has carved out a rectangle channel pattern. The price has been oscillating between the upper trend line, set at 166.594, and the lower trend line, marked at 164.420. This bouncing back and forth within these boundaries is what gives the rectangle channel its name. For those unfamiliar, rectangle channels are formed when the price moves within horizontal boundaries, creating a "rectangle" on the chart. These patterns are particularly interesting because they can signal potential breakouts, either above (bullish) or below (bearish) the channel. However, the validity of a rectangle channel is only confirmed when the price breaks out of these boundaries. Sometimes, other patterns can emerge within the channel, giving us clues about the potential direction of the breakout. In this case, we're focusing on a bullish scenario, but it's essential to stay flexible and adapt to any changes in the market. 📈 **Bullish Strategy**: - **Entry**: Go long above the upper trend line breakout at 166.594. - **Stop Loss**: Set at the mid-point of the channel, 166.594. - 🎯 **Targets**: - 50% Target: 167.668 - 100% Target: 168.746 Always remember, while patterns and technical analysis provide valuable insights, the market can be unpredictable. Ensure you have a risk management strategy in place and are comfortable with the potential outcomes before entering any trade. Happy trading, and let's aim for those profits! 🚀📈
Long
by TradeChartPatternsLikeThePros
USDJPY: Consolidation & The Next Bullish Move 🇺🇸🇯🇵 USDJPY is currently consolidating within a horizontal range. Taking into consideration the fact, that the pair is trading in a long-term bullish trend, probabilities are high that the market will resume the growth soon. Your confirmation will be a bullish breakout - a daily candle close above 146.6 - the upper boundary of the range. A bullish continuation will be expected to 148.0 level then. Alternatively, remember that the price may also drop from the underlined blue resistance and keep consolidating. ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
5
TSLA RECTANGLE CHANNEL Hello, Traders! 📈 Today, we're diving deep into TSLA's chart, and I'm excited to present a compelling trading opportunity based on a well-defined Rectangle Channel pattern. 📘 About Rectangle Channels: Rectangle Channels are technical patterns formed by two parallel trendlines—support and resistance—that the price moves between. They represent periods of consolidation and can be traded in both uptrends and downtrends. A breakout or breakdown from the channel can signal the start of a new trend. The height of the rectangle often acts as a guide for the potential breakout/breakdown move. 📌 Trading Strategies: Long Position: - Entry: Consider going long on a breakout above the upper trend line at $240.79. - Stop Loss: Positioned at the channel's midpoint: $234.49. - Profit Targets: - 50% Target: $247.16 - 100% Target:$253.46 Short Position: - Entry:Consider shorting on a breakout below the lower trend line at $228.05. - **Stop Loss:** Positioned at the channel's midpoint: $234.49. - **Profit Targets:** - **50% & 100% Target:** $221.83 Wishing you profitable trades! 💰
NASDAQ:TSLA
by TradeChartPatternsLikeThePros
1
📈Gold 2H ,Jackson Hole Symposium📉FOREXCOM:XAUUSD OANDA:XAUUSD Gold analytical series, before Jackson Hole Symposium. Hello Traders, please check out my previous ideas. If the price breaks above the range zone or stabilizes above the 1923, the bullish scenario will be activated. Targets are shown on the chart (1930 is my risk-free target). If the price breaks below this range or breaks $1923 and then returns to the range, the bearish scenario will be activated. Additional downside scenario targets are available in previous gold analysis. ✌💥If you are satisfied with my analytical content, please share my ideas💥✌ ✍🐱‍👤Otherwise, make sure you leave comments and let me know what you think.🐱‍👤✍ 🤑🍾Thank you for your support. I hope you will gain profit by following my analyses.🍾🤑 CrazyS✌
FOREXCOM:XAUUSDLong
by CrazyS
7