Get started

FLAG

EURCHF 31 August 2021Waiting for confirmation for EURCHF to break the bullish flag pattern. When pattern break. Then we are looking for prices to go up as targeted. Manage your own risk. Disclaimer: This content is intended to be used and must be used for information and education purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. Accordingly, the writer will not be liable in respect of any damage, expense, or other loss you may suffer arising out of such information or any reliance you may place upon such information.
Long
by Phoenix-Rise-Trade
How to use trendline to identify price action structure/patternHi everyone: Many have asked me about how to properly use trendlines to identify price action structures and patterns. So in today’s educational video, I will go over this topic in more detail. First, I use the trendline as a “frame” to identify structures and patterns, and NOT use it as a Support/Resistance. What I do is to put in the trendline for the highs and lows of the price action that can help me to pinpoint what the price is doing, what kind of a correctional structure that it is currently in. Typically after an impulse phase of the market, then we start to identify a structure/pattern by connecting the swing highs and lows. Second, as I always point out in my videos/streams, a structure/pattern needs at least 2 swing highs and lows to classify as a structure. Certainly more swing highs and lows are good, but it's not necessary. Often I get asked about the “third touch” or more. To me it's not necessary, but if price does form the third touch, I would proceed the same as the price has a second touch. Third, we are identifying the price action correctional structure, and sometimes the market is not perfect, it will not give you a textbook looking bullish flag as an example. Hence the backtesting and chartwork from each trader is important to get your mind familiarized with the market and its “imperfect” development of the price action. After identifying the impulse phase, then look to see what the market is doing. Is it falling into a consolidation ? Not much movement except sideway price action, or ascending/descending like consolidation will give you a clue on whether the price is correcting to continue, or correcting to reverse. Take a look at the educational videos I have made in the past regarding the type of correctional structures we typically see in the market. All the videos are down below. Continue to backtest and do chart work to get familiar with drawing in the structures/patterns. The more you do these, the better and easier it is for you to identify them in your trading journey. Remember, the market is not perfect, so not all the structures/patterns will be “Textbook” like on the real, live market. Learn to deal with the “imperfect” market, so you can better utilize price action analysis to your advantage. Any questions, comments or feedback welcome to let me know :) Thank you Below are all my price action structures/patterns videos on different type of corrections. Continuation and Reversal Correction Identify a correction for the next impulse move in price action analysis Impulse VS Correction Multi-time frame analysis Continuation Bull/Bear Flag Parallel Channel (Horizontal, Ascending, Descending) Reversal Ascending/Descending Channel Reversal Rising/Falling Wedge Reversal Double Top/Bottom Reversal Head & Shoulder Pattern Reversal “M” and “W” style pattern Reversal Impulse Price Action Continuation/Reversal Expanding Structure/Pattern
OANDA:XAUUSDEducation
by jojofang0901
61
ADAUSD bull flag consolidation continued Now that there was an initial push upward through the channel, you should expect a pullback and further consolidation which I have mentioned on the chart. I expect it to pullback and consolidate before the announcement of when the smart contracts go live. The announcement should be on Friday 8/20. I expect the price to push up further after the announcement and confirm the upward trend. You can see that the price has already pushed past the lower highs (the green lines). Friday should confirm or deny the upward trend for ADA. This is not financial advice.
KRAKEN:ADAUSDLong
by mysticalwalrus