A 5 year correction is enough.Bayer went down a lot. I do not think there is a lot of downward potential left at this point. Even though, there might be another low as the whole stock market will cool down, the general direction from now on is UP.
Trendreversal
H4 - WARNING - DOJI SHOOTING STAR !!!H4 : Over the last 4 hours, price action triggered a "doji shooting star" which is already the first signal of a potential trend reversal
Therefore the next H4 period will be very important to look at. Indeed, a closing price below the closing of the former doji shooting sta$
would confirm this bearish pattern, calling for further downside (watch H1 for intermediate clues)
The doji shooting star candlestick is considered one of the most reliable candlestick pattern !!!
One of the reasons for this is the unique structure - a opening a closing at the same level with a high upper candlewick !!!
In case of confirmation, be ready to fasten your seat belt.
BTC - D1 - CAUGHT BETWEEN MBB AND TENKAN-SEN ...D1 : Still holding above MBB which remains one of the trend leading indicator with Tenkan-Sen.
Yesterday's price action triggered a "Doji" pattern which confirm indecision and uncertainty.
As long as we hold above MBB, that should be seen as a constructive and consolidation price action
calling for higher levels with renewed focus on recent peak @ 42'000.
On the other hand m a failure to stay above MBB would this time confirm a TREND REVERSAL, an trigger
heavy selling pressure as the mood will move from BULLISH sentiment to a BEARISH one !
Next important supports being 32350 (KS) ahead of the psychological 30'000 area. (interesting to note that
the former low is @ 30261 and the 38.2% Fibonacci retracement @ 29776
BTC possible forming of Head & Shoulders [12/01/21]I'm posting this idea so I have a record of my ideas and hopefully start a discussion. This is not to be blindly followed or taken as investment advice... please please please DYOR!
Line of Thinking:
We are forming a potential Head & Shoulders pattern on the 4hr. We are currently moving down forming the right side of the right shoulder after having a failed IH&S on the 1hr. If we close this 4hr candle anywhere bellow $34121 Stoch will turn down, and ADX is currently strong with DI- positive and DI+ negative, which makes me think we will at least testing the neckline.
There is some big hidden divergance on most indicators, including the DMI which I often find does not show as much divergance as the others, which leads me to think this divergance should be given good weight in the trade decision. We used up so much momentum to get down here there's nothing close to it on the charts, but we did not make a lower low, which shows the bears are struggling.
The target from this pattern is pretty crazy and sits around $18200. I'm not sure if we will get down that low, but the 21 week EMA is just above that area and I think the old ATH will act as very strong psychological support. If we do make our way to the target, id expect bounces at the levels highlighted (which are also where I would scale out (see TP1)), like we have seen the past 2 days, some of which were around 10%.
Volatility is still redlining and will have to come down at some point, which would imply sideways with a slight upwards skew. I've not been able to find a stretch of PA with volatility sustaining this level, so in not sure how to use that. It could mean that due to its mean reverting nature the more it prints red the higher chance we contract and slow down for some time, or it could be a warning as it shows that the market is still going crazy. Maybe its all the new investors who don't have super strong crypto hands pulling funds back out?
I've adjusted my risk due to this huge divergence and the volatility. If the R:R was not 1:4.58 and I didn't have a spot position that I do not touch, I probably would not take this trade. Since I do, its basically a hedge on any further downside.
Trade Details:
Entry - $30769 On retest of neckline after breaking through. If the retest moves back above the neckline, depending on the signals at the time I may add on slightly.
SL - $33125 Reasonably big to avoid any stop hunts ruining the fun.
TP1 - $26500 / $24000 / $22600 I will scale out of the trade on the way to the target at the levels in-between.
TP2 - $20000 I don't think we will go lower then the 2017 ATH and I prefer to take profit before the pattern target.
HOW TO SPOT A TREND REVERSAL?7 signs of a trend reversal
I will describe it in more detail in the next few posts.
As soon as I have some free time.
Dear followers, the best "Thank you" will be your likes and comments!
Before to trade my ideas make your own analysis.
Thanks for your support!
LTC ready for $250 again!? Welcome fellow Tradingviewers,
In this analyses we are going to show you our view on the current market situation for Litecoin. We were going to share a full video on the yearly analyses with you guys but our Mic. Broke down. we will try to educate you guys using a video as soon as we replaced our mic.
This analyses is going to be the first in a series of 7 where we try to give you an idea of what it is like to try and analyse a cryptocurrency for 12 months.
This analyses is based on the impressions we get from the chart and the cryptocurrency market in general.
For this analyses we will be using the 12M, 6M, 3M, 1M and 1W charts.
Every month for the next 12 months we will release our monthly market breakdown.
If you want to receive daily and weekly technical analyses you might want to check our website .
We will be analysing LTC using a top-down strategy, including candlestick patterns, indicators and price patterns.
Yearly:
We are still inside the first huge Litecoin Yearly candle located in 2017, we did not close the year as a Bullish engulfing (as Ethereum did) but we did close the yearly candle on higher volume and a green candle, indicating upside momentum.
6 - Month:
The Six month graph is one of the most promising for Litecoin. In this graph we can clearly see the closure of one of the biggest bullish engulfing 6M candles till now.
The previous candle was a indecisive doji candle and this gets engulfed by our last candle closure on higher volume, indicating strong confidence from the bulls side.
3 - Month:
The 3 month candle is showing about the same bullish picture for LTC, we closed as a huge bullish engulfing almost closing above the important $150 dollar resistance.
Monthly:
- The monthly starts giving us a better picture of the medium to long term trend.
- We closed the monthly candle above the important $120 resistance. (One of the most important looking at the monthly graph)
- We are above the 50 MA monthly indicating confidence in the markets.
- The MACD has just crossed bullish indicating upside momentum.
Weekly:
- We closed as a bullish engulfing candle indicating more upside momentum.
- We closed above the important $150 double bottom Neckline and retested it. (at$140)
- We are well above all Moving averages.
- The MACD is in bullish territory.
In summary:
Litecoin seems to be broken out of a double bottom pattern with the neckline located at $140. These patterns generate price targets and if we measure the distance from the bottom of the double bottom to the upside, then our price target would be in the $275 range. Our first real target is $220 and then go for our double bottom target of around $250 to $275 based on the 0.618 fib. which can be found in the chart.
The coming year will be good for Litecoin, Bullruns can be crazy times where people are starting to feel all kinds of different emotions.
try to keep your emotions under control and let the chart be your guidance. Only trade what you see and don't forget to take your profits!
This analyses is only intended to share my idea, to educate and entertain you guys.
This should not be considered as financial advice.
I hope you guys enjoyed this analyses, if you did don't forget to leave a Like !
If you want to share your thoughts, please do so in the comments below!
Kind Regards,
Frank | Forallcrypto
TSLA Double Top / Extended to 50% Fib from Last Up-TrendDouble Top / Extended to 50% Fib from Last Up-Trend...could dip into the New Year Holiday....
BELBTC - Trend Reversal Setup - 22% First TargetI'm bullish for reasons
1. Volume is on average
2. Price is at the lowest with LL pattern while RSI prints HL
3. 1H MAs of 9/20 are close
4. HA Doji on 1H
First Target Blue .382
Invalid if Price prints LL, but will buy more if RSI prints HH or same level.
Disclaimer: I am not qualified to offer investment, legal, or any other advice nor am I trying to do so.
All my posts are my own opinion and any decisions, investments, or risks you take as a result of following
my posts are your own responsibility.
I cannot be held responsible for any decisions you make as a result of following my posts.
GBPUSD-Weekly Market Analysis-Jan21,Wk1On both the 4-hourly chart and the daily chart I've observed a break and close above the previous high, what's interesting is that the new structure break looks weak, a situation like this has the potential to open up for a bigger drop.
For that I'm waiting for a break and close below the red line on the 1-hourly chart, preferably closing below the blue trendline to engage my trend reversal trade.
Rising Wedge + No Stimulus + COVID Mutation Found in the USUs30 is at the highest point it has ever been. I am looking to sell high as it has been trading within a rising wedge pattern and a divergence can be seen on the 4hr time frame. Fundamentally, a pandemic relief stimulus package was blocked in the US Senate, and it has also been found that a COVID mutation has arrived in the US. Wait for the breakout for entry. Take profit at daily support.
Happy Trading :)
Possible short term rebound. Then $190 till Weekly 200 EMA.Updating my previous idea:
IMO it's possible to see a short-term rebound till $240 where the confluence of fib. retracement 0.5 (ATH to march '20 low) and fib. retracement 0.618 (ATH to dic '18 low) are.
Then, expecting more downside until aprox. $190 were the Weekly 200 EMA is. Just before the february earnings where trend reversal is possible if strong growth continue .
My last short Price Target was perfectly touched.
Thoughts?
Please like, comment and subscribe if it's helpful for you.
Stay safe.
HINDPETRO BREAKOUT TRADESHindpetro with an triangle pattern breakout in weekly time frame in upward direction!!! buy @210~214
COMMENT/ DM FOR TAARGET & SL
LONG TERM!!
EURJPY - Sell ZoneA counter-trend trade setup at a sell zone where RSI is oversold. This is considered as an aggressive trade, but aggressive trade if done right, gave the best Reward is to Risk Ratio. Trade has engaged, let's see how this trade goes.
What I love about this trade setup it's the indecision candle in the sell zone or better known as supply zone.
Tata Steel - End of Wave 3 - Ready for a quick correction?Tata steel has had a stellar runaway in the past 3 months. Considering the march lows of 240() and recent highs of 640().
I prefer to use 3 hour time frames to understand the broader trend of the stock. It seems that TATA STEEL is preparing for its corrective wave 4 for the time being. Wave 4 at max corrects till 38.2 % fib levels. Considering the September lows of 340 and recent highs of 640, the possible levels comes down to 570 and 520.
Wave 4 usually corrects with the price or with time. 520 seems to be an interesting price to accumulate the same for the long term investments.
Wave 5 is pending :)
M&M - Ready for its corrective wave 2? M&M on weekly time frames is poised to correct.
Currently, hidden negative divergences are clearly visible on the chart.
Even though, the price has established a new high post-September 2020 however, RSI failed to establish a new high and its the first sign of loss of momentum.
Applying the Elliot wave theory
From march lows of 250 and recent highs of 760 - we can consider this as wave 1
Wave 2 - Usually corrects up to 61.% fibo levels which comes down to 450. However, 570 & 500 are also crucial levels to watch for any reversal signs.
EURAUD LONGI just spotted an head and shoulder pattern on EURAUD will be using a strategy developed by @chibuforex to hop on this pair long and this head and shoulder might be a trend reversal for EURAUD
Sunpharma - Preparing for its Elliot wave 3Sun pharma is the biggest contributor in the Indian Pharma Index. So far, it has acted like a tired lion however, it seems the lion is ready to claim the kingship all over again.
Sun pharma has broken its 3-year downward trendline. RSI has already passed its complexion point.
It completed its corrective wave (2) at 450 levels around September. It is all set to touch 630, 750 & 800 levels.
800 would be a crucial level to watch and any correction from those levels will be another buying opportunity.
Atul Auto - A Great investment IdeaAtul Auto is a fundamentally a strong company with great investors on board.
Technically, the stock is showing positive divergences on the weekly time frames.
CMP is 192 and it seems it is already to touch 260 and 340 levels.
Any weekly closing above 340 levels will open the chances of it testing its all time highs
HOW TO TRADE THE DOW-JONES(US30) INDUSTRIAL PROFITABLY.IN THIS VIDEO, I EXPLAIN MY METHOD OF TRADING THE US30 AND HOW TO PREVENT BEING VICTIM TO FAKEOUTS TO THE DOWNSIDE, USING FIB-RETRACEMENTS AND THE PARABOLIC SAR INDICATOR.
US30 IS NOW AT AN ALL-TIME HIGH, AND AS THE PERFECT INVESTORS STATE "BUY LOW SELL HIGH" , PLEASE LET ME KNOW WHAT YOU THINK OF MY ANALYSIS IN THE COMMENT SECTION AND LEAVE A LIKE.
INDICATORS USED FOR TRADING US30
> PARABOLIC SAR FOR CONFIRMATION
> MACD FOR TREND REVERSAL
> MOMENTUM FOR KNOWLEDGE OF WHEN TO ENTER
> RSI TO SPOT REVERSALS
> FIB RETRACEMENTS TO PREVENT FALLING FOR "FAKE-OUTS"
> STOCHASTIC OSCILLATOR TO SPOT TREND REVERSALS
IF YOU ARE NEW TO TRADING THE US30, PLEASE BACKTEST THIS STRATEGY USING A DEMO-ACCOUNT!
THANK< AND DROP A FOLLOW FOR FURTHER ANALYSIS.
AUDCAD Sell Setup!Hello everyone, if you like the idea, do not forget to support with a like and follow.
on DAILY: AUDCAD is sitting around a strong resistance in green so we will be looking for sell setups on lower timeframes.
on H1: AUDCAD is forming a trendline in red, but it is not valid yet, so we will be waiting for a third swing to form around our lower red trendline to consider it valid and sell on its break downward.
Trigger: Waiting for a momentum candle close below the gray area to sell.
NB: Until the sell is activated, this one would be overall bullish.
Good luck!
CHFJPY Buy Setup!Hello everyone, if you like the idea, do not forget to support with a like and follow.
on DAILY: CHFJPY is sitting around strong support in blue so we will be looking for buy setups on lower timeframes.
on H1: CHFJPY formed a valid trendline in red.
Trigger: Waiting for a momentum candle close above the gray area to buy.
and until the buy is activated, this one would be overall bearish.
Good luck!
Possible Gold Reversal ?Daily: The price is being rejected on the resistance 1 area.
15min-4h Time Frames:
- 1H Timeframe: Inverse Hammer bearish candlestick is identified following a Doji Star bearish candlestick pattern is identified;
- Possible reversal until support 1. If price breaks the (blue reversal channel) and breaks support 2, which is an upper-trend channel. If happens, It will start a down-trend;
CADJPY - An Inverted Head and Shoulders Pattern at SupportTrading Confluence
Price is at a Support Level Which Comes from 4 Hour Chart.
An Inverted Head and Shoulders Pattern indicate the lack of selling pressure
Bullish Engulfing and Bullish Pin Bar indicate the buying pressure that builds on CADJPY
RIS Divergence
Trade Forecasr
We will look for a break above the local structure level marked in the chart. If Price will break above and retest local structure level then we will consider going long on CADJPY targeting 78.999 target area marked in the chart.
Head Over to Trade Revenue Pro to Learn How to Trade Forex Profitable Way.
