ADES: dragon patternADES holding had created dragon pattern, first target is 21.88 SAR and second target 24.9 SAR. This supported by HSBC recent recommendation for ADES holding at 24.9 SAR
8270A breakout is a term used in technical analysis to describe a situation where the price of an asset moves beyond a defined support or resistance level with increased volume. Breakouts can signal the start of a new trend, either bullish or bearish, depending on the direction of the breakout.
Characteristics of a Breakout:
Price Movement: The price moves above a resistance level (bullish breakout) or below a support level (bearish breakout).
Volume: A breakout is often confirmed by an increase in trading volume, indicating strong interest and momentum behind the price movement.
Follow-Through: After the initial breakout, the price should continue to move in the direction of the breakout. Lack of follow-through can indicate a false breakout.
8120"Strong support" refers to a price level on a chart where an asset consistently finds buying interest, preventing the price from falling further. This level is identified by multiple touches or tests where the price reaches this point and bounces back up.
Characteristics of Strong Support:
Multiple Touches: The more times a price level has been tested and held, the stronger the support level becomes.
Volume Confirmation: High trading volume at the support level can indicate strong buying interest and reinforce the strength of the support.
Historical Significance: A support level that has held over a longer period of time is generally considered more significant.
Psychological Levels: Round numbers or historically significant price points often serve as strong support levels due to psychological factors among traders and investors.
8030
A rising wedge is a bearish chart pattern used in technical analysis. It is formed when the price of an asset is making higher highs and higher lows, but the highs and lows are converging towards each other, creating a wedge-like shape that slopes upward. Here are the key characteristics and implications of a rising wedge:
Shape: The pattern is bounded by two trendlines – an upward sloping resistance line connecting higher highs and an upward sloping support line connecting higher lows. These lines converge over time.
Volume: Often, volume decreases as the pattern progresses. This declining volume can indicate weakening momentum behind the price movement.
Breakout: The rising wedge is typically considered a bearish reversal pattern, which means that the price is expected to break down below the support line. When this breakout happens, it is usually accompanied by an increase in volume, confirming the pattern.
Trend: A rising wedge can form after an uptrend or a downtrend. When it forms after an uptrend, it signals a potential reversal to the downside. When it forms after a downtrend, it might indicate a continuation of the downtrend.
The Company for Coop. Insurance"Higher high" is a term often used in technical analysis of financial markets. It refers to a price point that is higher than the previous high price in a given period, indicating an upward trend. This concept is part of the pattern analysis used by traders to predict future price movements and make trading decisions.
2010: Buy ideaBuy idea on 2010 as you see on the chart if only if we have the breakout with force the resistance line by a big green candle.
2160A symmetrical triangle is a chart pattern used in technical analysis that typically forms during a trend as a continuation pattern. It is characterized by two converging trendlines connecting a series of sequential peaks and troughs. The upper trendline is downward sloping, while the lower trendline is upward sloping. Here are some key points about symmetrical triangles:
Formation:
Symmetrical triangles occur when the price action of an asset is consolidating and moving into a tighter range.
It consists of two trendlines: one descending (upper) and one ascending (lower), which converge to form a triangle.
Volume:
Volume usually decreases during the formation of the pattern, indicating a period of consolidation.
Volume should then increase as the price breaks out of the triangle, confirming the breakout direction.
Breakout Direction:
The breakout can occur in either direction (up or down).
The direction of the breakout often continues the prior trend, but it can also signify a reversal.
Trading the Pattern:
Traders often look for a breakout above the upper trendline or below the lower trendline to enter a trade.
The target price after the breakout can be estimated by measuring the height of the triangle at its widest part and projecting that distance from the breakout point.
Reliability:
Symmetrical triangles are considered neutral patterns and require confirmation through breakout direction.
It's important to use other technical indicators or patterns to confirm the breakout to avoid false signals.
4050Welcome, dear ambitious people, we are all looking for money, but there are some people who cannot know the direction of the arrow, so I offer you this golden opportunity that cannot be missed, and thank you.
cup and handle for fibcowe got a perfect confermation for the cup and the handle got a nice chanel we just gonna need to wait for the confirmation trend
4141A consolidation range, also known as a trading range, refers to a period in the financial markets when the price of an asset moves within a defined range, showing little overall direction. During consolidation, the price fluctuates between a well-defined upper resistance level and a lower support level. This phase occurs after a trend and typically precedes a breakout in either direction, signaling the continuation or reversal of the prior trend.
Characteristics of a Consolidation Range
1. **Sideways Movement**: Prices move horizontally within a specific range rather than trending upwards or downwards.
2. **Boundaries**: The range is defined by a resistance level (upper boundary) and a support level (lower boundary).
3. **Decreasing Volume**: Trading volume often decreases during consolidation as the market participants wait for a breakout.
4. **Multiple Tests**: Prices may repeatedly test the support and resistance levels without breaking through.
Identifying a Consolidation Range
1. **Support and Resistance Levels**: Identify the horizontal lines where prices consistently bounce off (support) and where prices face difficulty moving past (resistance).
2. **Volume Analysis**: Observe the trading volume, which usually decreases during consolidation.
3. **Pattern Recognition**: Look for common consolidation patterns such as rectangles, flags, or pennants.
2001 reverse area to create a high trend?Hello everyone,
I would like to share my analysis of this stock, which I have been following since September 2022. The price is currently in a zone that has a high probability of initiating a countertrend and starting an upward movement. I see the downside target at 16.46.
Please note that the current time might not be the best for entry, but I decided to share this analysis for those interested in following this stock. I have included an explanation in Arabic on the chart that explains how to enter the specified area, hoping that the explanation is clear to everyone.
Please be aware that I have not read the financial statements or any news about the company at all, as I do not have the time for it. This is your responsibility.
I welcome any inquiries or discussions about this analysis.
Jamjoom
A bearish butterfly is a specific chart pattern used in technical analysis within the realm of Harmonic Trading. This pattern helps traders identify potential reversal points in the price of an asset, typically indicating that the asset's price may reverse from an uptrend to a downtrend.
Key Features of the Bearish Butterfly Pattern
The bearish butterfly pattern consists of five points labeled X, A, B, C, and D. The pattern is formed by four distinct price swings, creating specific Fibonacci retracement and extension levels.
X to A: The initial move up from point X to point A.
A to B: A retracement move down from point A to point B, which is typically 78.6% of the XA leg.
B to C: A move up from point B to point C, which is usually 38.2% to 88.6% of the AB leg.
C to D: The final move down from point C to point D. The CD leg is an extension of the XA leg, and D is often found at 127.2% to 161.8% of the XA leg.
2050: Buy ideaBuy idea on 2050 as you see on the chart because we have the breakout of vwap indicator and also the breakout of the resistance line.
1111: Buy ideaBuy idea on 1111 as you see on the chart because we have the breakout of vwap indicator and the resistance line.
8210: Buy ideaBuy idea on 8210 as you see on the chart because we have the breakout of the vwap indicator and the resistance line.
4013: Sell ideaSell idea on 4013 because after the breakout the vwap indicator we have a pullback on the vwap so it's mean that we would have a hight probability to have a downtrend.
1120: Buy idea: Spring effectOn 1120 we have a very good spring effect on the vwap indicator and this means that we would have a high probability of seeing the market go up.
Continuously in Downtrend but Continuously in Downtrend but
Now Bullish Divergence on Daily TF.
Closing above 27.25 - 27.30 on Monthly basis
would be a Positive sign.
It needs to Cross & Sustain 29 to change
the trend.
Bullish divergence in Saudi FisheriesA bullish divergence is observed in Saudi Fisheries in a daily timeframe. The current downtrend is expected to reverse into an uptrend due to divergence. Another important factor contributing to this is the price level being close to point D i.e. Potential Reversal Zone (PRZ) of the previously formed ABCD pattern. If the last LH is broken, then it will be a confirmation of the reversal and can be a good opportunity to take a long position.
Short Opportunity on SABIC Hello,
We've identified a Fantastic current opportunity to Short SABIC with a high probability According to my analysis on the Monthly chart .
The target is set at 60SAR within a couple of Months.
Ibrouri
1120: Pullback: Sell ideaOn 1120 after the breakout of the vwap indicator as you can see on the chart we have a pullback on the vwap and this means that we have a high probability of seeing the market go down.
2230 - Saudi CHemical CO Short Set upForming Double top pattern with bearish divergence. Have my sell stop / entry at 10.80.
entry - 10.80
stoploss - 11.32
tp-1 - 10.28
tp-2 9.77
#Trading #Technical #Crypto #Stocks #commodities
2222: Buy ideaWe would have a high probability of having an uptrend if and only if the vwap indicator as well as the resistance line is broken forcefully by a large green candle and followed by a large green volume..
