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Bullflags

SPX 1-day classic patternsQ: What has the highest probability of occurring? Solid uptrend. There are 2 classic patterns 1 is approaching its target the other has not validated. The bull flag from July is approaching its target. The pattern projects 4570 as the target. The ending diagonal, that appears to be in a throwover, is not validated. This pattern projects 4140 as the target. Objectively looking at previous structure there are a two major bearish classic patterns that failed. Specifically double tops that breakout into an uptrend as the second top is about to form. Buying the retest of the double top or former resistance was a great strategy. Bull flags also proved successful, in hindsight of course. Since the bull flag from July is the only validated pattern the current position is long with a bias in favour of the uptrend continuing. N.B. the current daily ranges are in the lower half of the distribution of all ranges this year. This indicates low volatility by 2021's standards. When the rate of change crosses from -ve to +ve it acts as a good entry signal for this trend. The market gains momentum after the majority of crosses. Low volatility and momentum are prerequisites for steady trends but are not predictors of direction. Finally the ending diagonal is for those with skepticism. If something untoward were to happen there is a framework for trading a 10% correction. In the words of Ed Seykota, "The trend is your friend except at the end where it bends."
OANDA:SPX500USDLong
by xciiitradingco
BTC Ultimate FLAG/TRIANGLE!Money Makers! BTC has had a very strong rejection and is now looking to aim lower to find the next MAJOR support before continuing higher. On the weekly TF shown I've mapped where I think BTC should retest in the upcoming weeks. At this support is where I would consider going LONG. There is another support on the way down, which is around 40k. Let's keep our eyes on these areas and see how the market reacts. Love it or hate it, hit that thumbs up and share your thoughts! Don't trade with what you're not willing to lose. Safe Trading Calculate Your Risk/Reward & Collect! This is not financial advice. Simplicity Wins
BITFINEX:BTCUSDShort
by rnaofs
ETHEREUM BEARISH RSI DIVERGENCEHello everyone On Ethereum we got what it seemed to be an ascending triangle which is a bullish pattern. The upper line indicates the resistance line. We could calculate the target by measuring the width of the base of the triangle and placing it at the break out point. We broke and the price surpassed the target by a little bit. Currenty it seems like we are forming a bull flag on the daily time frame which is a also a bullish pattern. But from the other hand we are forming a bearish RSI divergence. So i would be cautious trading the bull flag. Always use a stop loss! Thanks *Nothing of the above is financial advice*
by Harryboz
1
ADAUSD Starts Consolidation Yet Again If you take a look at the chart you can see the consolidation area. This consolidation range was calculated by taking 30%-60% of the push range, which is the correct retracement for an upward trend. I am hoping for a longer consolidation period this time so we are able to run up to 3.00 in one fell swoop. The next minor price target is 3.00 because of its psychological importance. The next major price target is 3.25 and was calculated by using the cup and handle pattern that started May 18th (see my older posts for explanation). Now lets talk about why ADA has so much strength. Cardano is about to release smart contract September 12 with the Alonzo release. This addition makes it a viable competitor to ETH as an open source platform. Right now, it is just a glorified ledger. As a person who plans to be a Cadano Developer once Alonzo is released, it makes me wonder how far ADA can go. I have heard people say it cannot go to 100 dollars because it will need around a 3T market cap. But considering in the past 2 weeks ADA has added 31B to its market cap, it's definitely not out of the realm of possibility. Also, considering Grayscale Investments has picked it up, I think it has a LOT more room to grow. Tell me what you think? This is not financial advice. DYODD. Feel free to like this chart and follow me. All the support is welcomed. Thanks again! GLHF.
KRAKEN:ADAUSDLong
by mysticalwalrus