Patterntrading
Megaphone pattern (?) setup It looks like a megaphone pattern. It may not reach the "Long Open" position. But this seems like a less risky setup. With a good risk/reward ratio.
S&P 500 (CFD): Sell every technical rebound in short term?...from a technical point of view and looking at hourly chart, the answer is "yes"!
Hello everybody!
If we look at the whole bullish movement started from 22 October 2022, it doesn't seem to me an impulsive rally, far from it! The developed swing seems to be something similar to a corrective structure (ABC Pattern as shown on chart), and if this analysis is correct, $SP500 should trigger an interesting bearish leg with targets around 3710/3650 area.
Today and tomorrow very important US data will be released and we must not forget that if the data will be good it is possible that the market reacts on the opposite side....
If we look in the long term, I am absolutely a bearish as well as shown in the chart below.
(Click & Play on Chart below)
Trade with care! 👍 ...and if you think that my analysis is useful, please..."Like, Share and Comment" ...thank you! 💖
Cheers!
N.B.: Updates will follow below
Necklace Pattern Series - "Sterling Tools"Classic Necklace Pattern along with "W" i.e. double bottom formation at lower levels on M TF.
Check your own chart, this is only for educational purpose & Not a buy recommendation.
gbpjpy in 1Hif price break the decending chanel we entering to short position with good risk to reward
we shoul wait for breaking and retest
good luck
Necklace Pattern Series -"Career Point"This Stock is creating repeated Necklace patterns, i.e. rounded bottom in follow up manner. When such stock tries to reach higher high or tries to defend lower levels repeatedly, it may touch its past glory i.e. its previous Life Time High & explode further.
This chart is for study purpose & not a buy call!
Easy-to-Spot Bullish Forex PatternsHi Traders, Investors and Speculators 📈📉
Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Daytime job - Math Teacher. 👩🏫
For the biggest part, I prefer to trade reactive rather than predictive. Chart patterns really come in handy with this strategy. Here are my top easy to spot chart patterns, specifically focused on bullish chart patterns today. The green highlight dots are to help identify the margins of the pattern and the purple highlighted dot is where a long entry can be taken.
While you're here 👀 See this related idea on EURUSD from the monthly timeframe:
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AAPL ShortLooking for AAPL to retrace to the lower bounds of its current channel.
125-120 is the target zone.
Seems very unlikely for Apple to push up to ATH's given such uneasy market conditions, but anything could happen so best to keep a tight stop.
VIX at 22. Looking for short-term bull momentum in aapl to take it up to my entry and the short is on!
This is not financial advice, good luck!
FDN - falling wedge patternWhat we can see on the chart is a falling wedge pattern.
The price is still moving inside the pattern, once it breaks above the trendline it can be a good momentum to enter long.
Do not forget to put the stop loss under the wedge .
Possible target area is shown on the chart.
ADT - rising wedge patternWhat we can see on the chart is a rising wedge pattern. The price did not break out of the pattern yet.
We are expecting that the price will break down and continue the previous downtrend.
The stochastic shows us that the price is overbought but it is not pointing downwards yet.
How to trade:
Enter the short position only if/when the price breaks down out of the wedge with the volume increase which would be the confirmation.
Do not forget about the stop loss to protect your capital.
OPUSDT healthy retracement of a pump and also formed this reversal pattern at the bottom. if this breaks out with volume looking to long this on a pull back.NFA
S&P500 - Bullish Corrective??OANDA:SPX500USD is starting to clean up and give us a real clue as to whats coming in the next few weeks.
If its really bullish it needs to hold this 78% level and head up to new recent highs.
Due to the drop in yesterdays session we now look lower towards the 4k level and even as low as 3980.
An Ideal Scenario sees us getting a retest of 4100 which has been support through Feb and then dropping from here to the lower targets.
Being a friday we look for a bullish day followed by Selling coming in next week.
Also with Time and Price, if we go below 4030 before Wed 22nd then 4k will be the target. Key Date..
I hope this helps. Enjoy the Day!!
XAUUSD : Gold demand zone long tradeOANDA:XAUUSD
Hi trader's , Gold as per our last analysis went down and hit all target's
Now Gold consolidating and making a potiential reversal pattern
'W' pattern is bullish reversal pattern , as after double bottom , buyer's can push market in upward direction
Once 20 and 50 ema resistance area clear , gold can move upto 1973 mark minimum
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PLUG - STRONG FALLING WEDGE POTENTIALOn the chart, we see a falling wedge occurring for PLUG.
We expect it to break the support, anytime soon.
The target is purely based on technical analysis. Therefore we will advice you to keep in mind, that the stock is at its lowest for a long period of time, and therefore has potential for much higher upside, than our target.
📉Bearish Reversal Patterns & Showcase📉What are Reversal Patterns?
In trading, candlestick patterns are used to analyze the behavior of the market and identify potential opportunities to enter or exit a trade. Reversal patterns and continuation patterns are two types of candlestick patterns that traders look for.
Reversal patterns are characterized by a change in the direction of the trend. These patterns indicate that the market is likely to reverse its direction and move in the opposite direction. In contrast, continuation patterns signal that the trend is likely to continue in the same direction after a temporary pause or consolidation.
Reversal patterns usually take longer to form than continuation patterns because it's easier for the market to continue moving in the same direction than to change course. For example, if sellers are pushing the market lower, it takes more effort for buyers to turn the market around and initiate an uptrend.
A reversal pattern may occur after a period of strong selling or buying pressure, as traders become exhausted or the market reaches a key support or resistance level. Once this happens, traders who missed the initial move may see an opportunity to enter a new trade in the opposite direction of the previous trend.
However, for a reversal pattern to be considered valid, there must have been a previous trend in place. A sideways market cannot be classified as a reversal because it doesn't reflect a change in trend direction. Traders typically look for confirmation of a reversal pattern, such as a breakout from a trendline or a significant price movement in the opposite direction of the previous trend.
👤 @AlgoBuddy
📅 Daily Ideas about market update, psychology & indicators
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📊 Diverse Chart ApproachesHere is a diverse chart approach for trading that includes some tips:
📍 Use multiple timeframes:
Analyzing charts at different timeframes (e.g., daily, weekly, monthly) can provide a broader perspective on market trends and potential trading opportunities.
📍 Combine chart types:
Using different types of charts, such as line, bar, and candlestick charts, can provide different insights into price action and help identify support and resistance levels.
📍 Apply indicators:
Technical indicators, such as moving averages and oscillators, can be applied to charts to identify potential entry and exit points, as well as confirm price trends.
📍 Incorporate chart patterns:
Chart patterns, such as triangles, flags, and head and shoulders, can be used to identify potential price breakouts and reversals.
📍 Use trendlines:
Drawing trendlines on charts can help identify potential areas of support and resistance, as well as indicate trend direction.
📍 Keep it simple:
While it's important to use a diverse range of charting techniques, it's also important not to overload charts with too much information. Keeping charts clean and easy to read can help avoid confusion and lead to more effective trading decisions.
👤 @AlgoBuddy
📅 Daily Ideas about market update, psychology & indicators
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JPYX INC BULL SWINGJapanese Yen is nearing a crucial point of FIBO level 61
This level can be see as a pivot point for price action many times over and over again
The yen fundamentally is in a 20+ Year run of Qualatative easing and negative interests rates
The new BoJ Ueda seems very reluctant to use any type of terminology that leads one to believe that a swift change is on the horizon
However the tides are still shifting for the YEN and the consensus of a great majority of economists in the region is that its not a matter of IF QE will stop, its just a matter of WHEN
Assuming our critical fibo level holds as support for the WEEKLY uptrend, then we should see the DAILY/H4 trend turn from BEAR to BULL at these levels
Our targets are painted by the Fibo Extension of the potential support levels
AUDCAD IdeaLong-term outlook = Potential Head and Shoulder formin for mid-term swing short positions.
Short-term outlook = Falling channel = Long opportunities. Target - 90% rule
Disclaimer:
For educational purposes only.
GRWG - Head and ShouldersThis one is a trade for the patient followers, as the targets are big with huge moves.
We are seeing a head and shoulders pattern, and are now waiting for the price to break the neckline, so we can take our short position.
The first take profit-level will give a return on investment of 29% while the second take profit-level will reward with 54%.
The target gives a ROI of 120%
CABLE STR INCOur cable trade from several days ago is playing out BEAUTIFULLY
lets see if we can get some SUPPORT STRUCTURE tomorrow with CPI
Hopefully anyone who missed out can get in before the main rally
after result us 30 pre breakout hello tradres i have done a pre breakout strategy if you want to learn follow me it is possible to make money click that follow that free signal
GOLD CUP & HANDLEI would write a bunch of nonsense here including how the MAVS are lining up and RSI is blah blah blah, but if youve traded before a day in your life you understand what it is you are looking at and for the reasons why its happening, well:
US DOLLAR = TRASH
GOLD = UP
CUP & HANDLE = TRADE IT GENIUS
USDJPY BEAR SWINGHere we see USDJPY in its final push upwards. As we can see by the chart 138.00 is a very significant level for TWO reasons
1. It is a major FIBO level that is retesting the overall DOWNTREND that we are on from a WEEKLY perspective, this has been a necessary retracement to the massive downward trend that we had begun late last year.
2. It is the 1.6 FIBO EXTENSION of our current Daily/H4 uptrend and at this level usually overbought/sold conditions exist
Using this framework we can create a nice entry for our resulting swing downwards. This trade highly depends on the NFP data next week to come in not as HOT as last month
