Wick
So that latest Wick - BTC - expect that to be tested againMight not be tested today, but I've noticed that flash crashes like that are indicative of actual selling in the near term. Call it a day or two perhaps.
SPX 4h Candle wick and Line Analysis Just posting my chart. Actually sniffed out the short op on 1/26 with some basic trendlines/triangle pattern charting. Went short that night before bed, got stopped out at 00:45 on 1/27 with a small profit, but woke up to a hell of a drop, sucks! Whatever.
Called out some short targets from other triangles/channels. All got hit.
We ended up wicking down to the (yellow) long term "covid" trendline which has presented huge buy ops in the past, but we needed a 4h candle close down in that range so I held out for a few 4h candles before going short again. As expected, we got the 4h close at our yellow trendline which cleared us for takeoff. I do think we see ATH from here. This is a great lesson on wicks and candle closes.
I really like to draw patterns using line chart only. Wicks are fun but are not to be trusted.
Uptrend & Downtrend CounterSAVE THIS!
This are two of the best entryes on uptrend and downtrend counter.
The best thing to do is to wait for the price to give you the confirmation before entering the trade.
OANDA:XAUUSD
Wick Donalds: Fundemental Theorem of Algorand Tradingi promise myself i wouldnt reveal my tricks, but i lied, cuz to be a pro trader u gotta be unpredictable even with yourself
let me introduce to you Fundemental Theorem of Algorand Trading: Wick Donalds. take a minute to appreciate the fine art i prepared for you in all its glory
... ...
good. this chart describes a phenomenomnom called Wick Donalds. it is only seen on the algorand coin. if you see something similar to Wick Donalds on other coins, especially LTC, you are being lied to. so stop that.
the crux of the theorem is that every piece of the chart is a combination of Wick Donalds, any discontinuity in the system is distortion caused by burger king interference.
now to describe Wick Donalds formally and mathematicsly
Wick Donalds is described as two arcs happening consecutively together, usually with the same range, but often with the second arc slightly higher than the last. this is a bull flag.go look at magic chart and find all them.
the inverse of wick donalds is upside down wick donalds, where the arc forms a 'w' instead of an 'm' shape. this is actually also a bull flag.
there are no bear flags in algorand, every move can be represented as a list of Wick Donalds shapes, translated, scaled, transposed or skewed. now that u know this u cant lose unless u sell or go follow wendys on twittler.
BTC chart for 1/4/21 @ 9:50 EST showing possible trend linessame chart as before but cleaned up the trends that are no longer viable.
we can see at bottom around the 27.8K level and now a nice rally to retrace the upside. ill be looking for a W pattern with a higher low developing on the 1H candles before i look to get back into a LONG.
also keep in mind the long wick down on the 4am 1h candle is very bullish . lets see if the bulls can take control back or will the bears beat the price back down. who knows!
side note .....price targets (PT) are measured from the highest wick to the lowest wick recently made. PT changes with where the breakout occurs within the pendant.
tip of the day....
do not act until the charts have spoken.
****im not a professional. just sharing my thoughts so you can compare with yours. ***
let me know what you think ...
like and subscribe if you like the content. i do this for fun only.
AUDNZD: Pullback from 0.5 retracement. AUDNZD dropped to important 0.5 Fib. level.
The importance of this level is identified by strong wick and rejection of resistance trend line.
We expect bulls to move the market.
GOAL:
1.06244
GBP/AUD RETESTING WEDGE, GOING SHORTIt looks Like GBP/AUD is retesting the previous resistance triangle, and to confirm sell, huge wick has been seen througout 2 candles, showing big rejection.
Risk/Reward Ratio : 1 : 2
Entry : 1.82745
Stop Loss : 1.83763
Take Profit 1 : 1.81621
Take Profit 2 : 1.79829
USDCHF- READY FOR A MOVE LOWER We can see on the daily TF that price has now hit this descending TL for the third time, where we are at a structure level, 38.2 fib level and the 50EMA acting as support. With a confirmed entry being on the 4H TF (huge Bearish wick)
Birds Eye View on BitcoinBTC touched the regression channel-bottom nicely.
I am open to several scenarios, where one is the institutional way of looking at things, using reload-zones.
I drew in three major reload-zones, and combined where they overlap, called reload zone in the chart.
If the support at 10,5k is broken we may see a fast decline into a possible touch around the 0,38-Fibonacci-level,
or a wick all the way down to the reload-zone mentioned, down to around 6k.
As the markets are quite volatile, and in my opinion ripe for a major correction, we may see BTC leading a decline that goes even below 6000.
The bear-market isn't officially over yet the way I see it, I do believe we are in a bull-market, but anything can happen.
This is my first published idea, I'm basically publishing so that I am more thoughtful of my analysis.
I had several a buy-orders, starting at 8888, and so far it bounced back at 8,9k - so I just missed that one.
To me the moment we see a weekly close above 14k is when the bull market has officially started.
Just to make it clear: I have also purchased a bit BTC, for buying Altcoins, at levels around 11-12k.
I see BTC heading for a correction - but it will most likely be short lived.
Cryptos are here to stay, and BTC is the mother of all of them.
Granules India - Potential Breakout?Granules India
The two green candles out of last 4 candles have good volume but both have wick on top.
Stochastic and RSI are as per rules.
Buy can be initiated only after 325 levels for Rs 10 move.
A lot depends on bar and volume in the coming days.
One good point is support at 9 EMA is being held so breakout can be expected.
GBPUSD TO BUY (AFTER NFP NEWS)Last Friday there was NFP news, which went for a sell. As of now, we are looking for a buy based on the long wick before the market closed that occurred on Friday.
TP: 1.3075 OR ABOVE
Crazy Wick - Stop HuntCrazy wick on the 15m and 5m! Assuming a stop-loss trigger to get some liquidity for the next move up!
GBP/CAD Potential Buy OpportunityGood Day Traders, I hope all is well.
These are my thoughts for GBP/CAD.
After a strong and lengthy downtrend price has begun to exhaust and has found a strong level of support. The market is creating a series of downside wick rejections on the 1hr and 4hr timeframe , indicating strong buy pressure.
Advice:
Stop trying to always being right. I myself have lost countless trades out of pure stubborness. The markets are always right. When you are wrong , cut your losses. Theres no point holding a trade in hope it may reverse in your direction eventually. Get out and look for a better opportunity.
I wish you all a splendid day.
Lets make this shmoney!
#Forexprodigy
EURUSD - Wait for retest golden zoneHello everyone!
I will keep it compact as always:
1. Be patient, wait for the candles to reject the fib golden zone
2. At the same time the candle rejects to break above the SMA 8 (I don't show the SMAs to keep it cleaner)
3. The RSI is showing divergence wich means high possibility for bearish action
4. Go to a smaller timeframe and get yourself a sniper entry
5. When in profit trailing stop it!
6. Manage your trade properly!
7. If it's not doing what I'm saying then this setup will not be valid anymore. It needs to show rejections.
'We need to improvise the market! Nothing is 100%'
I hope you like it!
Wicks & Bodies I noticed that on longer time frames, BTC candles tend to separate into 2 channels on upwards moves - the wicks, and the bodies. Currently we wicked up into the wick channel, but came back down into the body channel.
Theoretically, a decisive break of the downtrend would have to include a candle in which the body breaks into the wick channel. If the breakout is powerful enough, the wick could surpass the wick channel as well.
Sounds retarded, but I'm leaving this to check back up on periodically.
Bitcoin Broke Major Resistance Barrier - Is this Just a Wick?Bitcoin, Bitcoin, Bitcoin - Looks like you've just broken some some pretty strong resistance there. Right? Maybe, maybe not...
A quick glance at the chart reveals a very interesting and significant point to make, BTC is poking it's head out above the top weekly resistance line! This looks superb, the move we've been waiting for, said to happen on or around this Halving, and here we go! Well, we're not 100% convinced, Bitcoin might be about to lose it's proverbial head.
When trading S/R triangles like this one, many times the price will breakout before the "end" of the triangle, and this could be what is happening right now, it's broken resistance, will hesitate while support regroups, then it's off to $20,000+ (with a few stops along the way, of course!)
But maybe we should take a look at the Halving previous to this one:
You can see that although there was a bump in price movement around the halving, it consolidated quickly and fell back to roughly pre-halving price for nearly 6 months! That's a long time! Even after it broke out of this range it grew slowly, taking another 3-5 months before the "Bull run" really started gaining pace. This is significant.
Going back to our main chart, there's a pretty big trading area available Below our current price, and within the S/R triangle, we can't help but feel there's one or maybe two more squeezes downward before things really start to get going nearer the end of 2020. - What we are currently experiencing, might just be a wick on the Weekly chart, bear that in mind!
Good Luck & Happy Trading
theCrypster
well..... that happenedhighest finalized transaction price in the history of the ETHUSDT perp on binance.
buyer discretion is advised I guess. If you bought that wick, Im praying for you rn.
Comparing weekly candles for month of March - YoYI've gotten sucked into creating the script for this study and lost track of my reasons for creating it in the first place. I was playing around with the idea of comparing weekly/monthly candles sizes seasonally/YoY (however that is stated). I'm running out of time to publish this study. I promised a 6 yr old I would go outside with him. Good Luck
Oldinvestor
The script to this study will be included below
Flaccid Wick Pattern incoming 4k is the BOTTOMHello fellow traders,
today we have a new price analytics on $BTC and i think i found something interesting here on the chart.
If you fire up your MACD and calibrate it, draw the 4 neck and bottom lines on the tops and downs and found
the zig-zag pattern in it measerud out, you can find a flaccid wick pattern which could occur in the next time,
get you long on 4k ready to get over ath then.
DLTBTC Possible BreakoutDLTBTC is breaking out from its resistance line on the 4 hour chart around 0.00000517. You can also see that RSI is crossing the moving average and the MFI hasn't topped out yet (in fact it just bottomed and started going up). I thought there was some room to buy before it becomes overbought. One target would be the next resistance line around 0.0000055 but if a green wick closes across it, especially together with a wick pattern suggesting bullish sentiment, I will probably hold past that first resistance line.
