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Cup and Handle PlayHertz appeared to be filling the gap it created after briefly enjoying life as a meme stonk, but no. Instead it printed a textbook cup and handle, the likes of which I haven't seen on a real stock as opposed to making something up for demonstrative purposes. Even the nice cup and handles you see in the wild don't have this uniform volume profile through the cup. Then comes the news that Hertz is set to spend billions on 100,000 Teslas. This kind of spend usually pushes a stocks price down in the near term but today we saw a gap up over the 9MA which was previously acting as resistance and is now support. After filling today's gap we are looking at a potential green close, which is crazy considering the hurting rental company's expensive announcement. Looking for around $35 by end of next week.
H
by Keeegs
PRICE ACTION TRADING | RISING WEDGE PATTERN 🔰 Hey traders, Rising wedge pattern is one of the most accurate price action patterns. Being relatively simple to recognize, it is applied in various trading strategies. ⭐️The pattern itself signifies the exhaustion of bulls. Even though the asset keeps growing in value, the price action legs contract forming a narrowing channel. Being stuck between two contracting trend lines, one serving as support and one serving as resistance, the price forms a wedge pattern. 🔔The trigger that we are looking for to sell the market is a bearish breakout of the support of the wedge (candle close below). To not be caught by a false breakout, it is highly recommendable to wait for a bearish violation of the last higher low level as well. Only then the wedge breakout is confirmed. ⚡️Trading the market aggressively, one opens a short position on spot just after the candle closes. ⚡️The conservative trader will wait for a retest of the broken support of the wedge though for a safer entry. ✔️Safest stop will lie strictly above the highest wick within the wedge. ✔️Initial target will be based on the closest key structure support. Learn to recognize this pattern and be disciplined to wait for its confirmed breakout. Only then a high trading performance will be achieved. What price action pattern do you want to learn in the next post? ❤️Please, support this idea with like and comment!❤️
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COINBASE:BTCUSDEducation
by VasilyTrader
122
Nifty Update for 25th October 2021OANDA:IN50USD Nifty Update for 25th October 2021 ============================== A sell-off/profit booking was seen in the market last week. Index has given a small bounce from the support levels. Here's the trade setup for today: Today we are going to use two charts with different time frames to get a better view. As per IN50USD chart we have a 200 point range in Index from 18,000 levels to 18,200. For buying 18,200 is the key level above that 18,300 will act as a key resistance. As per hourly chart our Harmonic XABCD Pattern will activate if the price sustains above 18,200 On Higher Timeframe 18,300-18,400 will act as a resistance area. For selling Consider selling from 18,050 level, but also consider 18,000 as an important level as it will act as a psychological support. Consider quick profit booking on both the sides as Index is trading at narrow range. Trade setup ============== Key RESISTANCE is : 18,300 Key SUPPORT is : 18,000 Trade Accordingly!
I
by CodeViser
NZDJPY , SWING ON SHORTS ..!!From the daily time frame we see the price action has reached a resistance trendline , based on the previous 2 touches . what we understand from the previous movements of the market we will be looking for a chance or rather confluences as to why we vouch it to sell based to the lower time frame , in this case the 4 hrs. time frame is best fir , where we will constantly be at the search of selling structure or concrete reversal pattern . and possible entries .
Short
by DIGITALASSETSINC
The Bubble Could Pop Like It Did In 1929I and others who try to spot patterns in charts are starting to see a lot of similarities compering bull run from the 2008-2021 and the one from 1921-1929. You can clearly see that patterns are profoundly which to be honest, it keeps me up at night. Stock market as well as crypto market are VERY high. In last few years/months. everyone wants to become a day-trader or whatever, and having a mindset that everything can only go up from here. It was the same mindset back in 1928-1929 where everyone knew about the stock market, getting overleveraged and promoting it as it could make you rich over night. It is the same now so i want to worn people about all this. Don't listen CNBS and financial media as they are only there to create liquidity for the institutions so they can sell when the time comes. That time is right around the corner. Also a fib. extension levels extended over previous fall in 2008 takes us to around 11-13% above where we currently are with DOW. Don't be naive and say that this time is different. It's not. Maybe the fall will not be that dramatic as the bubble is not as big as it was in 1929 but we certainly could and probably will fall below the bottom of 2008 ( roughly to 6k), so don't be surprised if it turns out this bear market is longer and deeper, because we need such correction for the market to stay healthy. I am not financial advisor so non of this is a financial advise, just a BIG warning to you all. DJ:DJI
DJ:DJI
by CR35
8
Ethereum: A clear path ahead for the end of 2021Head & Shoulders Explained The Head & Shoulders Pattern & Inverse Head & Shoulders Patterns are quite common on Bitcoin and have had great results on the higher timeframe charts. Here are the main characteristics: • VOLUME MIMICS PATTERN • 3 PEAKS, LEFT & RIGHT SIMILAR HEIGHT • TRIANGULAR IN APPEARANCE • FOUND AFTER UPTREND • HIGH SUCCESS RATE • CAN BE SLANTED Price forms 3 distinct peaks after a strong uptrend, the left and right peak should have a similar height (shoulders), the middle peak (head) has to be the highest or this can not be a HS pattern . They should seem triangular in appearance but as long as it fits the main characteristics can still be a valid pattern. The right shoulder should form a lower high which is a early sign of trend change, this is entry A, with entry B being the bearish retest of of the “neckline” (marked on chart #2). The idea is to gain an early entry on the pattern at point A to maximise profits and reduce risk. Once price moves above the middle "peak" it is likely that the pattern is not valid anymore so this allows us to get a tight stop loss upon entry. We measure the height of the pattern and add it to the breakout level for a maximum possible price target. Volume should also paint the same pattern with the 3 peaks, strong volume on breakout increases success rate. ----------------------------------------------------------------- What is General Pattern Failure? General Pattern Failure occurs when a chart pattern breaks out, fails to hit target, quickly reverses then rejects off that same breakout level back inside the pattern continuing in the opposite direction of the breakout. Pictured above in the original post on the left (its quite small but zoomed out to get the bigger picture) is a normal breakout on a Head And Shoulders Pattern. Note how it matches the first example (top left, "Normal Breakout"). General pattern failure can also be considered a Liquidity Grab or can be referred to as a “Fake Out” also when it happens more rapidly after the original pattern breakout. In this example (top right as the example, pointing to the live chart at bottom right) it has come back up to the Head & Shoulders pattern after a long extended period of time, this doesn't mean the failure still cannot occur. Once price gets back inside the pattern chances of higher prices are more probable. ----------------------------------------------------------------- Learning to trade patterns such as these can provide great opportunities if you understand price action and how to identify the key areas of the pattern that other traders and investors may be focusing on too, these areas become important psychological levels on the chart. If you found the idea insightful please share, like or comment, Thank you!
FTX:ETHUSDLong
by Worth_The_Ri5k
A case for both Bears & Bulls (Fractal Repetition or Bear Trap?)Noticed that $BTC is potentially repeating a pattern that we've all seen recently... We could be seeing either: - A highly coordinated bear trap.. or - A continuation of the current correction.. Thoughts?? *moved the pattern down a bit to make it easier to see* Now while pattern similarity doesn't necessarily mean guaranteed PA (Price Action) this is still a concern to keep in mind... A side note However, is the US and Asian Stock Markets have been quite undecided as of late, maybe we see a correction on them which causes a drop in crypto (due to the correlation) ? Here are my current thoughts: ^Above is the fractal shown Now taking into account some of my previous charts on the stock indices, We could see a correction from them which causes Bitcoin to finish off this fractal it's been painting? Here is a combined ticker on global stocks: Having a look at SPX we can see a potential bearish setup also as it's currently breaking down: And we have a similar situation for the following 3 indices: Bearish setups and/or bearish breakdowns.. With the potential correction on various stocks, this could complete the fractal for BTC as shown in the chart... or It's just one major and elaborate bear trap before a major bullish continuation... A well thought out bear trap makes sense from a Macro point of view also! However, Only time can tell from here, But it's good to keep in mind this fractal & the information above.. Good luck! Related Ideas below: Some food for thought that's for sure... What are your thoughts?? *Symbol tags below, Ignore these* INDEX:BTCUSD BITSTAMP:BTCUSD COINBASE:BTCUSD BITFINEX:BTCUSD BINANCE:BTCUSD BINANCEUS:BTCUSD FTX:BTCUSD GEMINI:BTCUSD BINANCE:BTCUSDT KUCOIN:BTCUSDT HUOBI:BTCUSDT OKEX:BTCUSDT BITTREX:BTCUSDT POLONIEX:BTCUSDT COINBASE:BTCUSDT BINANCEUS:BTCUSDT FTX:BTCUSDT BITSTAMP:BTCUSDT BINANCE:BTCUSDTPERP BYBIT:BTCUSDT BINANCE:BTCUSDT_PREMIUM SP:SPX TVC:SPX OANDA:SPX500USD DJ:W1DOW NASDAQ:NQGI NASDAQ:NQGM CRYPTOCAP:TOTAL CRYPTOCAP:TOTAL2 CRYPTOCAP:TOTAL3 INDEX:SATSUSD BNC:BLX *Symbol tags above, Ignore these*
INDEX:BTCUSD
by RandomOracle
19
$AAPL Drew this on 10.12 Inverse H&S bottom, needs neck-L break Hello Traders, I drew the attached on 10.12 for a discord group I'm in and the H&S Bottom pattern still stands. If it breaks the neckline we should see a reversal and a continued push higher (although, today I did circle that the closing price is currently at the exact edge of my regression channel). As I mentioned in my previous recent posts, the market has been a bit indecisive as of late so make sure to manage your risk. We did see the VIX drop way down to about 16.80 down from yesterdays high of 20+... So things are cooling off a little bit. Today felt like the markets equivalent of a sigh of relief, gapping up past SPY's resistance overnight and ending the day near the high. Feeling much more bullish going into Friday. Good luck! Cheers, Mike
NASDAQ:AAPL
by UPRIGHTTrading
Is something big coming?If you don't know about the VIX, why are you trading? It's an index of volatility in the S&P500. But.. but.. hold on. What happens in the S&P500 affects loads of other things, like key forex pairs e.g. AUD, NZD, JPY, USD It won't tell you about entry and exit points in your trades. But it could tell you when markets are very volatile. Wait - aren't traders supposed to love volatility? Well, yes and no. There are basically two types of traders: 1 - those who know how to exploit volatility with sound strategies 2 - those who fear volatility and are basically gambling. I'm not saying anything about any trader who reads this. What I am saying is, "Get develop the skills to exploit volatility." So what does the chart show. It's showing that the Vix is wild and that every few months, it goes into a frenzy. I don't expect the Vix to have a regular interval. If that was the case then 'everybody' would wait for the right time and make a killing in the markets. I'm saying that the last long run of lowish volatility may herald a new round, as folk get shaken out or make millions. This is not trading advice. Disclaimer: This is not advice or encouragement to trade securities or any asset class. This is not investment advice. Chart positions shown are not suggestions intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which have a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts or investing in any asset class. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
CBOE:VIX
by Captain_Walker
6