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Weeklychart

Falling wedge on XRPETH suggests 130-140% gains for XRPLooking at the weekly chart here we can see the XRPETH chart is reaching the apex of a falling wedge its been in for quite some time. Should this see a bullish breakout upward we could see XRP make 130-140% gains against ethereum based on the measured move for the wedge. This pair's chart can be harder to predict than normal usd, btc, or tether paired charts but on the 1 day chart xrpeth is currently holding support above the 1 day 50ma. If it can maintain that support then we should see a bullish breakout from the wedge. We must keep in mind that often wedge breakouts only reach 60% of the measured move, but I've also seen plenty of wedges reach their exact targets and quite a few exceeding those targets as well and considering we are just now seeing the bull market begin it should increase the likelihood of this pattern reaching its target. Also XRPUSD is days away from the golden cross to put it in an official bull market which lines up pretty well confluence wise with where this wedge pattern would break upward.
Long
by DrDovetail
A simple weekly bull flag to 16kIf this breakout is confirmed on the weekly then the target is 16k...in addition to this simple bull flag on the weekly chart we also just broke above the neckline of a weekly inverse head and shoulders pattern too which has a similar breakout target I will show that in a separate idea. Based on the volume we got today I have a feeling we will see a solid volume confirmation of the breakout on the weekly soon enough as well. This breakout is not 100% confirmed on the weekly yet but judging by the volume on the 1 day chart it is much more likely at this point to be a validated breakout than a fakeout.
COINBASE:BTCUSDLong
by DrDovetail
1
Weekly falling wedge on XRPUSD on coinbaseWe can see we have 6 valid touches on the bottom red trendline...hard tot ell whether the yellow trendline or the green trendline is the more valid top trendline of the wedge...but hopefully its the yellow trendline that price action is currently above. If we can maintain steady support above this yellow trendline then that should hopefully lead to a bullish breakout from the wedge but we will have to also of course clear the green trendline to to confirm that breakout. On the 1 day chart (not shown here) we have a buy signal that just occurred on the hashribbons indicator...no signal yet on the weekly chart but the buy signal on the daily is still a very bullish sign of things to come in the near future.m
COINBASE:XRPUSD
by DrDovetail
potential invH&s in play if we make it to 10k & get rejectedWe are currently testing the weekly 50ma as resistance here...if we can overcome it the next resistance will be 10k if we see a solid rejection at 10k we will then start forming the right should of an INV H&s shoulder pattern that could have a breakout target of 17k so keep a close eye on this pattern as it develops./..of course these patterns are never guaranteed until the confirm the final breakout above the neckline so if i does reject at 10k there will still likely be some time involved before we have a chance of validating this potential pattern. I will be closing some longs at 10 k but if we cant get above the weekly 50 ma I will start laddering them out here.
COINBASE:BTCUSDLong
by DrDovetail
4
Nasdaq Weekly Profit-Taking Zones The bull run on Nasdaq continues to break records. Many don't recognize that runs that move parabolic like this are more likely to continue than reverse....but they do eventually reverse. And when that occurs, it's rarely gentle. Taking profits in a market like this is difficult. These are the zones I'm watching to act as inflection points, just in case this monster trend does reverse: Orange (8138.5-8175.5) : This zone is the most recent and likely support at the current date. If Nasdaq stays above ~8140, the potential for a parabolic break to the upside (similar to June 2019) remains the expectation. Buy-the-Dip for short-term gains is the plan as long as we stay within orange. Break below the orange zone (a 2.4% loss from Tuesday's all-time high), and this wave higher is done. Expect at least a few weeks of rest with price going sideways, but more likely a more severe pullback period. Breaking down below the orange zone without breaking above it first will trigger exiting most long-sided trades, including the majority of longer-term bullish positions. I plan to hold only defensives, metals, maybe a few growth names with a trailing stop. Pink (7863.5-7974.5) : This zone represents a 5%-6% drop from the all-time high. Falling into this zone on a single day that opened in the orange zone is reason for significant medium-term concern. Closing a week within the pink zone would lead me to exit any remaining long-term longs on the next sign of strength, such as a 50% retracement. I'd also be looking to open short-sided trades at that point. If the pink zone is tested from above, holds, and produces a weekly close above it, I'll scale out of bearish trades and be on the lookout for short-term, oversold, high reward:risk ratio long opportunities, anticipating at least some attempted bounce. Red (7511-7697) : This zone is 8%-10% below the current ATH and represents the final support point before the very bottom of the long-term bullish trend (established back in 2009 and most recently tested in December, 2018). Short-term bearish trades opened in the pink zone will have 1st targets in the red zone. Close below it, and we are in for wild volatility with wide daily trading ranges. I'd not want to be watching charts if I was a long-term investor and not a trader, but it should be a fun day to day trade if given the opportunity. Main support (7270) likely holds at least once, but we're talking a 12% drop from all-time highs there. Establishing support in or below the red zone should be enough to stabilize a move back to the top of the rising wedge, but if it tries and doesn't make it back above pink, it's time to get VERY short (head and shoulders pattern). Note the bearish divergence on the indicators (along with short-term trend change confluence on the RSI and TMF similar to January 2018). We likely test the mid-point on these indicators, then make another higher high similar to March, 2018. IF both indicators fall below the midline (like October, 2018), sell or shorting on a lower high.
OANDA:NAS100USDShort
by Red_Ben
GWO Double Bottom 200SMA GWO has recently passed the 200MA on the weekly chart signalling a strong reversal in the price trend from bearish to bullish. after price showed a double bottom reversal, the price rebounded to break the resistance and cross over the 200SMA indicating a strong bullish trend. Price showed a similar pattern of a double bottom reversal crossing the 200MA in late 2011/early 2012 leading to a strong rally seeing the price increase almost 50% after breaking the resistance. the price target is 45-47.50 (35%)
TSX:GWOLong
by Zacmando
1
XAUUSD Down?For the price action, candlestick analysis people out there, The weekly chart shows a Shooting star/Bearish Pin bar on the Weekly chart and a confirmation of it with the week just passed with a weekly candle close below the low of that Shooting star/pin bar. This is a pretty compelling reason to look for sells at least down to that red zone in my opinion. However, It is in a strong bullish uptrend, so it can really continue upwards. And when trading against trend it is hard to say how far we can go but I'm leaning towards looking for sells if the market can break through the red zone it is in, and the green zone as well. Trade at your own risk, Unfortunately, I am not a professional and this is not professional advice, maybe one day it will be, until then use your own analysis as well. PatiencePays
OANDA:XAUUSDShort
by PatiencePays777