Line_Trader

Line_Trader

Since the all time high, Bitcoin built 3 resistance area (shown as a boxes in the chart). If Resistance holds, then expect the arrows showing in the chart to playout (blue scenario or black scenario) with target to the dashed black line at 36,000. And the bottom was at 2020 close which usually means the index will highly possible to respect these resistance area...

Line_Trader

usually the trade for this pattern based on lines is shown on this chart with good risk reward ratio (stop 3,250 points and the target +7,130 points). line traders trade this pattern as follow: short at 54,230 stop at 57,480 target at 47,100

Line_Trader

Bitcoin formed 2 resistance area first one at 54000 and the 2nd at 60000. If first resistance area holds, then watch the blue arrow scenario. But if it didn't hold, then the 2nd resistance area will highly show another drop (black arrow scenario). In case the 1st area hold, then target is a new low for the move below 47000. bottom line: we have 2 scenario the 1st...

Line_Trader

Now building a trading range in an uptrend between support 32840 and resistance 38700. two things to watch, the level line (blue or red) and the uptrend line (green). reminder: when market in trading range, it usually gives a false signals in the smaller time frames. And it took more time playing inside the range to confuse traders.

Line_Trader

After hitting stops at 24,000 to the upside (after a false ending diagonal in Dec,21,2020) bitcoin built an uptrend ( the green line) and printed on the chart a clear supports below (the horizontal blue lines). Watch those levels for support

Line_Trader

Bitcoin formed an ending diagonal which is in this case is a topping pattern with first target 22,220 and then will highly possible go to 20,820. because usually the first target for any ending diagonal is it's base which in this case is 22,220. And if it drop to 20,820 and that level didn't hold, then watch 19,600 for a real test for the drop.

Line_Trader

another triangle with target 12720 General notes about my charts: I focus on Nasdaq and some times SPX and Dow. I don't use any indicator, I only use lines and pattern in my charts (i have my rules for lines). You will see 3 type of lines: 1- trending lines (green for up trend/ red for down trend) 2- horizontal lines ( those are levels that market will highly...

Line_Trader

Short term target for the small triangle is 12610 for today (showing in the box). While trend is still up as long as the green slope line is a live. with first level of support 12466 the base of the triangle. General notes about my charts: I focus on Nasdaq and some times SPX and Dow. I don't use any indicator, I only use lines and pattern in my charts (i have...

Line_Trader

Nasdaq in triangle and waiting for a break, keep in mind that price usually build a resistance and support areas (in my charts are red and green rectangles) inside any triangle, and price respect those areas, until the break (up/down) from the triangle which signal the end of the pattern and a new impulsive wave will show outside the triangle. General notes about...

Line_Trader

The hourly SPX started the day at the uptrend line 3550. If the uptrend line holds, then expect a higher price with resistance at 3600 area. If closes below the uptrend line, then will play with the levels ( shown in the chart as horizontal lines) until it build a news trend line. General notes about my charts: I focus on Nasdaq and some times SPX and Dow. I...

Line_Trader

Nasdaq started the day without having a trend line. When this is the case (no trend line) price will play with levels (horizontal lines) until it build a trend line. So, for Thursday Nov,12 levels is what matter until I see a trend line. You can see them in the chart. General notes about my charts: I focus on Nasdaq and some times SPX and Dow. I don't use any...

Line_Trader

Still in uptrend as long as the green lines are not broken Watch the price action when price test the lines General notes about my charts: I focus on Nasdaq and some times SPX and Dow. I don't use any indicator, I only use lines and pattern in my charts (i have my rules for lines). You will see 3 type of lines: 1- trending lines (green for up trend/ red for down...

Line_Trader

Nov,11,2020 Nasdaq hourly: Trend is down ( the down trend red line) as long as it is live and not broken. while short term nasdaq in triangle soon will break it. level to watch: If market breaks the 2 red lines, it will mean that the drop from 12400 high is done and market will reverse up or at least build a larger trading range. but some times a break of trend...

Line_Trader Updated 

I focus on Nasdaq and some times SPX and Dow. I don't use any indicator, I only use lines and pattern in my charts (i have my rules for lines). You will see 3 type of lines: 1- trending lines (green for up trend/ red for down trend) 2- horizontal lines ( those are levels that market will highly possible to respect them) 3- lines to show the pattern border. the...

Line_Trader

It is clear that Dow just entered a resistance area 28065 - 29190. You can also draw those 2 levels in the daily chart and see that this area is a resistance. another note in this chart is that any week closed near the week high of that week while the close inside the resistance area, that weak quickly been sold within following week or 2 .You can see the candles...

Line_Trader

This is my first published idea, i focus on Nasdaq and some times SPX and Dow. I don't use any indicator, I only use lines and pattern in my charts (i have my rules for lines). You will see 3 type of lines: 1- trending lines (green for up trend/ red for down trend) 2- horizontal lines ( those are levels that market will highly possible to respect them) 3- lines...