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Tradingstrategies
Bullish Reversal on DRIP/BUSD: Falling Wedge Pattern UnveiledGreetings, Traders! Today, I want to share an exciting technical analysis finding on the trading pair of DRIP (the DeFi protocol) and Binance USD (BUSD). A falling wedge pattern has been identified, indicating the potential for a bullish reversal in the near future. Let's delve into the details!
📈 Trading Pair: DRIP/BUSD
📅 Timeframe: Daily Chart
📊 Pattern: Falling Wedge
📉 Understanding the Falling Wedge Pattern:
A falling wedge is a bullish chart pattern characterized by converging trendlines that slope downward. Typically formed during a downtrend, it suggests diminishing selling pressure and the potential for a reversal. This pattern indicates the possibility of an upward price movement.
🔍 Identifying the Falling Wedge on DRIP/BUSD:
Upon analyzing the daily chart of DRIP/BUSD, the following observations come to light:
1️⃣ Recent downtrend: The trading pair has experienced a decline in price over the past weeks.
2️⃣ Converging trendlines: The upper trendline connects the lower highs, while the lower trendline connects the lower lows.
3️⃣ Decreasing trading volume: As the falling wedge pattern forms, the trading volume has been declining, indicating a potential reduction in selling pressure.
📈 Price Targets and Trading Strategy:
If the falling wedge pattern on DRIP/BUSD plays out as anticipated, a potential bullish breakout above the upper trendline may occur, leading to a reversal and potential price appreciation. Consider the following price targets:
1️⃣ Target 1: Resistance level near $40.00
2️⃣ Target 2: Psychological resistance near $50.00
🛡️ Risk Management:
Managing risk is essential for successful trading. Implement the following risk management techniques:
1️⃣ Set a stop-loss order below the lower trendline to protect against unexpected price movements.
2️⃣ Adjust position size based on your risk tolerance and overall portfolio management strategy.
🔔 Conclusion:
Keep a close eye on the DRIP/BUSD trading pair as it develops this falling wedge pattern. The pattern suggests the potential for a bullish reversal on the horizon. However, please note that technical analysis is not infallible, and market conditions can change rapidly. Combine this analysis with other relevant factors before making any trading decisions.
Disclaimer: This post is for informational purposes only and should not be considered as financial advice. Always conduct your own research and consult with a qualified financial professional before making any investment decisions.
Happy Trading! 📈💰
#tradingview #technicalanalysis #fallingwedgepattern #DRIP #BUSD #DeFi #cryptotrading #chartpatterns #bullishreversal #tradingstrategies #investing #finance #marketanalysis
Reversal Potential on $XLM: Falling Wedge PatternHello, Traders! Today, I want to share an exciting technical analysis finding on the cryptocurrency Stellar Lumens ( LSE:XLM ). A falling wedge pattern has been identified, indicating the potential for a bullish reversal in the near future. Let's dive into the details!
📈 Ticker: LSE:XLM
📅 Timeframe: Daily Chart
📊 Pattern: Falling Wedge
📉 Understanding the Falling Wedge Pattern:
A falling wedge is a bullish chart pattern characterized by converging trendlines that slope downward. Typically formed during a downtrend, it suggests diminishing selling pressure and the potential for a reversal. This pattern indicates the possibility of an upward price movement.
🔍 Identifying the Falling Wedge on LSE:XLM :
Upon analyzing the daily chart of LSE:XLM , the following observations come to light:
1️⃣ Recent downtrend: LSE:XLM has experienced a decline in price over the past weeks.
2️⃣ Converging trendlines: The upper trendline connects the lower highs, while the lower trendline connects the lower lows.
3️⃣ Decreasing trading volume: As the falling wedge pattern forms, the trading volume has been declining, indicating a potential reduction in selling pressure.
📈 Price Targets and Trading Strategy:
If the falling wedge pattern on LSE:XLM plays out as anticipated, a potential bullish breakout above the upper trendline may occur, leading to a reversal and potential price appreciation. Consider the following price targets:
1️⃣ Target 1: Resistance level near $0.40
2️⃣ Target 2: Psychological resistance near $0.50
🛡️ Risk Management:
Managing risk is crucial for successful trading. Implement the following risk management techniques:
1️⃣ Set a stop-loss order below the lower trendline to protect against unexpected price movements.
2️⃣ Adjust position size based on your risk tolerance and overall portfolio management strategy.
🔔 Conclusion:
Keep a close eye on Stellar Lumens ( LSE:XLM ) as it develops this falling wedge pattern. The pattern suggests the potential for a bullish reversal on the horizon. However, please note that technical analysis is not infallible, and market conditions can change rapidly. Combine this analysis with other relevant factors before making any trading decisions.
Disclaimer: This post is for informational purposes only and should not be considered as financial advice. Always conduct your own research and consult with a qualified financial professional before making any investment decisions.
Happy Trading! 📈💰
#tradingview #technicalanalysis #fallingwedge #bullishreversal #xlm #cryptocurrency #chartpatterns #tradingstrategies #investing #finance #marketanalysis
NZDCAD - descending channelThe price is moving in a descending channel and has reached the top of the channel and a strong horizontal resistance. From there, it is expected to move towards lower support levels.
1W:
1D:
Good trading!
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EURUSD - Start of upward movement EURUSD broke the descending trendline and started the upward movement. Higher resistance levels can be targeted after a pullback.
Good trading!
If you find it useful, like, follow, share!
Learn How to Trade Cup and Handle (rare but profitable pattern)☕
If you are studying a price action, you should definitely know Cup and Handle formation.
Being applied properly, it can generate big profits.
In this educational article, I will teach you how to identify this pattern. We will discuss its psychology and I will share with you 2 trading strategies.
📏And let's start with the structure of the pattern.
The pattern has 3 important elements:
Cup - long-term correctional movement that tends to move steadily from a bearish trend to a bullish trend.
Handle - short-term correctional movement with signs of bullish strength.
Neckline - upper horizontal boundary of the pattern - a strong resistance that the price constantly respects.
⚠️Being formed, it warns you about a highly probable coming bullish movement.
The trigger that confirms the initiation of a bullish wave is a breakout of the neckline of the pattern and a candle close above.
Here is the example of a completed C&H with a confirmed neckline breakout, indicating a highly probably coming bullish movement.
Depending on the preceding price action, Cup & Handle Pattern can either be a trend-following or reversal pattern.
📉If the pattern is formed after a bearish impulse. It is considered to be a reversal pattern.
Here is the example of a reversal C&H that I spotted on EURUSD.
📈If the pattern is formed at the top of a bullish impulse, it is considered to be a trend following pattern.
Here is the example of a trend following C&H that I spotted on GBPJPY Index.
The thing is that while the price forms the C&H, buying volumes are accumulating. Even though, buyers are hesitant and reluctant initially, their confidence grows, and the accumulation leads to explosive neckline breakout.
There are 2 strategies to trade this pattern.
✔️Strategy 1.
That approach is quite risky, but the reward can be quite substantial.
You should monitor the price action when the price is forming a handle. Occasionally, the price starts trading in a falling channel: parallel or contracting one.
Your trigger will be a bullish breakout of its resistance and a candle close above.
Once the violation is confirmed, you can buy aggressively or set a buy limit order on a retest.
Stop loss will lie below the lows of the channel.
Target will be the closest key resistance.
Here is the example of the handle being a falling channel.
📍Strategy 2.
Wait for a breakout of a neckline of the pattern.
Once a candle closes above that, it will confirm the violation.
Buy the market aggressively or set a buy limit on a retest of a broken neckline then.
Stop loss will lie below the lows of the handle.
Target will be the closest key resistance.
Here is the example of the trade based on a confirmed breakout of a neckline of C&P on NASDAQ Index.
Applied properly, the strategies may reach up to 70% win rate.
As always, the best pattern will be the one that forms on a key level.
Try it, test it, and good luck in your trading journey.
❤️Please, support my work with like, thank you!❤️
AUDSGD ____ INCOMING BEARISH MOVEHello Guys,
This pair is not so popular amongst forex traders but I do trade it sometimes and I might present a good short opportunity soon.
Price just created and hunted buy-side liquidity on its way to a daily order block which if it holds, will present a good shorting opportunity. There is also a weekly FVG just above the daily order block.
I would be monitoring price movement in the 1-hour timeframe, waiting for a CHOCH from bullish to bearish to take a nice short.
This move is also visible on other AUD pairs (see them below)
Follow for more update.
AUDUSD analysis
AUDCHF analysis
Cheers,
Jabari
AUDCHF ____ INCOMING BEARISH MOVEHello Traders,
AUDCHF just entered a strong weekly order block. As you know already this pair has been bearish overall on higher timeframes like the weekly and monthly.
Although, the long-term bullish impulse might be fast approaching, however, I speculate that the weekly order block will have an impact on price and we would witness some bearish movement.
I'd be monitoring the 1-hour timeframe to spot CHOCH from bullish to bearish to a short trade.
See my analysis on AUDUSD below.
Follow for more updates.
AUDUSD analysis
Cheers,
Jabari
CADJPY ____ INCOMING BEARISH MOVEHello Traders,
CADJPY traded into a strong weekly order block last week but didn't sell as expected. However, it created both buy-side and sell-side liquidity. My speculation is that It hunts the buy-side liquidity first, then go for the sell-side liquidity.
This simply means that the price would run deeper into the weekly order block to gather momentum for the bearish move.
Follow for more updates.
Cheers,
Jabari
US DOLLAR INDEX ____ SHORT-TERM BEARISH LONG-TERM BULLISHHello Traders,
As expected last week, the dollar was bearish (see my previous DXY analysis below) but what you may notice is that Friday's candle close was bullish. I expect this week to rally the go bearish to takeout the lows of Friday's candle, after which, the long-term bullish move will commence.
I will post my analysis on dollar-related pairs and how I will trade them according to my view of the dollar index.
Follow me for more updates.
Here's my previous DXY analysis which played out as speculated.
Cheers,
David
GBPUSD ____ INCOMING BULLISH RUNHello Traders,
Just like I am expecting a bullish rally in EURUSD, I also expect a rally in GBPUSD for correlations reasons.
Also, we have a daily order block and also buy-side liquidity for the price to hunt and we know that price loves a nicely set liquidity pool. Ensure you look out for manipulations while waiting as I expect it to happen.
Follow for more updates.
Here are my analysis on the US DOLLAR INDEX and EURUSD
DXY
EURUSD
Cheers,
David
XAGUSD (SILVER) ____ INCOMING BULLISH RALLYHello Guys,
As we can see this pair has buy-side liquidity to hunt on its way to the weekly FVG.
Also, since I expect a bearish move on the dollar index, it simply gives more conviction in this rally.
I also did an analysis on this pair last week which played out as speculated.
Follow for more updates.
See my previous XAGUSD analysis
XAGUSD
See this week's analysis on DXY, EURUSD, GBPUSD, NZDUSD and USDJPY
DXY
EURUSD
GBPUSD
NZDUSD
USDJPY
Cheers,
David
AUDUSD _____ INCOMING BEARISH MOVEHello Guys,
If you follow me already, you would know I get my directional bias for USD-related pair from the dollar index. My outlook for the dollar is bullish (see below the analysis) which means that this week and going forward, AUDUSD should be bearish.
Currently, NZDUSD has traded into the weekly order block, and we may commence the bearish move from here. Price is also trading in the monthly order block with gives more confluence for a bearish move.
The goal will be to trade lower into the monthly demand order block.
Follow for more updates.
Dollar Index analysis
Other USD-related pairs
GBPUSD
NZDUSD
USDJPY
USDSGD
Cheers,
Jabari
USDSGD ____ INCOMING BULLISH MOVEHey Guys,
USDSGD hunted sell-side liquidity last week Thursday & Friday and also traded into the weekly FVG. From the weekly FVG, I speculate that the price will rally to hunt the buy-side liquidity and head into the daily FVG.
However, I expect that price will try again to go lower at the beginning of the week and start the bullish rally.
Also, as a confluence, the dollar index is also getting ready for the bullish rally (see below my analysis on DXY)
Follow for more updates.
Feel free to DM me.
See my Dollar Index analysis
Other USD-related pairs
GBPUSD
NZDUSD
USDJPY
Cheers,
Jabari
USDJPY ____ INCOMING BULLISH MOVEHello Guys,
USDJPY just cleared buy-side liquidity and is heading should head for the daily FVG.
Also, based on my outlook for the dollar index (see below for analysis), USDJPY should continue the rally but first, it needs to go into the daily order block to gather orders and momentum for this move.
Follow for more updates.
Feel free to DM me.
Dollar Index analysis
Other USD-related pairs
GBPUSD analysis
NZDUSD analysis
Cheers,
David
NZDUSD ____ INCOMING BEARISH MOVEHello Traders,
If you follow me already, you would know I get my directional bias for USD-related pair from the dollar index. My outlook for the dollar is bullish (see below the analysis) which means that this week and going forward, NZDUSD should be bearish.
Right now, NZDUSD has traded into the weekly FVG, and from here, we may commence the bearish move. (See my previous analysis of NZDUSD below)
Follow for more updates.
Dollar Index analysis
Previous NZDUSD analysis
This week's analysis on GBPUSD
Cheers,
Jabari
GBPUSD ____ INCOMING BEARISH MOVEHello Guys,
If you follow me already, you would know I get my directional bias for USD-related pair from the dollar index. My outlook for the dollar is bullish (see below the analysis) which means that this week and going forward, GBPUSD should be bearish.
Right now, GBPUSD has traded into the daily order block, and from here, we may commence the bearish move. (See my previous analysis of GBPUSD below)
Follow for more updates.
Dollar Index
Last week's GBPUSD analysis
Cheers,
Jabari
US DOLLAR ____ INCOMING BULLISH MOVEHello Guys,
Last week's price moved as speculated (see analysis below). I was expecting the bearish continuation. This week I expect Price to start making preparations for the massive rally.
I have a strong bullish view on the dollar and I expect that after a few manipulations in either the weekly or monthly order block, the price will take off.
Follow for more updates.
See last week's speculation on the Dollar Index.
Cheers,
Jabari
S&P 500 and my first published Alpha Phantom indicatorI'm currently going through all possible currencies, assets, cryptocurrencies, etc... and see what my new published indicator works best on.
Indicator here:
I will be happy if you try it and give me feedback.
I will also be very happy for information on the best place to trade with the currencies of EURUSDT etc... or with Amazon, Dow etc...
Thanks for all the responses, you can find more information directly at the indicator.
If there is interest in it, then I will definitely not turn it off and I will set access according to your requests.
Have a nice day and enjoy trading
Tipping pont for NVDA, What's in the Cards?Next level down for NASDAQ:NVDA is at around $334.05, which would be back to the Pivot and yet another pivotal moment, where if there are not enough buyers it could be bed time for the AI narrative for now. Full disclosure I am already short NVDA stock and looking to exit near the pivot.
Check out the Equity Channel Podcast for more information on trading and investing.
CHFJPY ____ BEARISH MOVE INCOMINGHello Guys,
I made a post on this last week stating that I want to see this pair rally into my daily order block.
Which it did. Now, I expect a CHOCH from bullish to bearish to take a short.
I also made a trade on CADCHF (see below for analysis)
Follow for more updates.
CADCHF
Cheers,
Jabari
CADCHF ____ INCOMING BEARISH MOVEHello Guys,
This pair has been on my radar for some time now. Price entered into a monthly FVG also taking out daily equal highs alias buy-side liquidity (see your daily chart) and price reacted strongly.
I expect the price to trade into the daily order block and I will be watching the 1-hour for a CHOCH to take a sell. If I don't see the CHOCH, I won't take any trade.
Follow for more updates.
Cheers,
Jabari
CADCHF ____ INCOMING BEARISH MOVEHello Guys,
This pair has been on my radar for some time now. Price entered into a monthly FVG also taking out daily equal highs alias buy-side liquidity (see your daily chart) and price reacted strongly.
I expect the price to trade into the daily order block and I will be watching the 1-hour for a CHOCH to take a sell. If I don't see the CHOCH, I won't take any trade.
Follow for more updates.
Cheers,
Jabari
