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Tripletop

USDCHF WEEKLY: TARGET 0.9650 DONE, PSYCHOLOGICAL LEVEL 1.0000 ?USDCHF confirmed its medium term bullish by breaking its MA 200 Weekly & its Median Channel (from November 2020 to September 2021). As expected USDCHF Broke and held above 0.9547 and hit the target (0.9639 & 0.9650). Now, USDCHF is heading to Strong (Adjusted from Strongest) resistance at 0.9901, running above its Upper Channel. Break and hold above 0.9901, open the way to key psychological level 1.0000 and 1.0026 (Triple Top and also its Strongest Resistance now). Failure at 0.9901 then Retest Support (former Resistance) 0.9650/39 ( its Median Channel) Next Support at 0.9547. Below 0.9470 potentially retest 0.9296. Below 0.9296 potentially retest 0.9091.
Long
by Wahyu_Luck
EURCAD | NEw perspectiveConsidering the long term bearish momentum coupled with a reversal set-up on the 1H time frame; It is advisable that we look out for selling opportunities at this juncture in the market. So with a key level identified at 1.355, we shall be using this level as a yardstick for our position. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
$SPY TRIPLE TOPNote of my overall sentiment of the market. It's going down. All the chop over the last year has made a (ugly ass) triple top. $SPY is just a few ticks away from reaching the neckline @ $415ish. I think one of two things will happen. 1. It will bounce maybe to the $420s to $430 and retrace back to the neckline then ultimately break the neckline 2. It will close with a full daily candle under the neckline before the week is up and head towards the price targets in green then the gap from 403.80 to 400 (blue lines) made back in April 2021. - Not financial advice
AMEX:SPYShort
by markbully
2
DYDXUSDT wants to retest the Weekly supportThe price is creating a descending channel on the daily timeframe . The price created a double bottom on the weekly support, 4.35$ on the 4h timeframe the price is creating another descending channel. How to approach? The price is going to retest again the 4h support on 4.60$, if the price is going to lose it we could see a new retest of the weekly support, thus the market is going to create a triple bottom, so According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Short
by InkyGrip
Mon 28th Mar 2022 NZD/CAD Daily Forex Chart Sell SetupGood morning fellow traders. On my Daily Forex charts using the High Probability & Divergence trading methods from my books, I have identified a new trade setup this morning. As usual, you can read my notes on the chart for my thoughts on this setup. The trade being a NZD/CAD Sell. As you can see by al the lines and note son my chart, I have been busy on this pair. The main thing is that I am still in a partial Buy trade also, which gives me some protection. Enjoy the day all. Cheers. Jim
Short
by JAGfx
GBPUSD - Possible Triple Top? What To ExpectFX:GBPUSD In our earlier post, we identified a short setup when price broke below ascending trendline AND retested resistance with confirmation. As it turned out, it was a false breakout and I got stopped out of my trade as well. This is why a consistent strategy and risk management is so important; As attractive as a setup may be, it simply reduces the element of chance in every execution. Apply that over a large number with a consistent strategy and proper risk management (risk-reward ratio), the odds of a trader being successful is as sure as the saying goes: 'The house always wins'. Now, back to the chart. We see a clear and strong rejection at resistance, resulting in an bearish evening star doji pattern. While it does not necessarily mean that price will go under, we are setting ourselves up for an attractive Risk-to-Reward ratio. Typically, for a double/triple top pattern, a good gauge for our Take Profit level would be 1x the size of the neckline (As shown on chart). Stop-loss would no doubt be above previous highs, which gives us a Risk/Reward Ratio of 3.45. Are the odds in our favor? Well, yes. Could the price continue to push and stop us out of our trade? Definitely a possibility. The point is, as a trader we should always prioritize proper risk management instead of simply our winrate. Let's see if the trade can go in our favor this time. Happy trading
Short
by sooshiz
1
BTC Short-Term UpdateGood Evening Everyone! 😃 My short-Term view remains the same as last week despite a decent performance in the markets the last couple of days. Here I broke down the what I expect from Bitcoin in the coming days! Fibonacci: The 0.382level at 37k forms the current local support. The 0.5 area just above 38k is the level that we are yet to see a candle close above. The local Fib. retracement shows us the golden pocket (0.618-0.65 ) just below 40k. if we manage to break above the 0.5, we have to watch out as the area between 0.5 and 0.618 is common territory for bull traps. If we were to break above that area, macro targets such as the bull market support band and the 200 sma come into play. On the downside we can see perfect alignment with the Fibonacci retracement levels and our horizontal support lines. Double top, broken channel and lower low: Here you can see my post from the past weekend where i posted about a potential double top for BTC which later was comfirmed and BTC broke down from the ascending channel which resulted in the first lower low on the 4h since Dec. 24th. Volume: The double top was formed due to lack of volume in the area just below 39 and upwards from there. (See the VPVR bars on the right side) Until we see more volume at the levels above 38k, I remain short-term bearish as far as breaking above 39k goes and I think it's more likely that we move down to the 33k support level in the next days/weeks and maybe get a local rally before we eventually drop down to 29k. Stock Markets: The recent mini ralli was iniciated by a strong performance and close from the US stock msrkets, that mini rallie is continuing today after stock markets are showing strength again. Although Bitcoin and the crypto market also have been looking healthier in the past week or so, in the most recent weeks and months we have seen that the close correlation between the price movement of Bitcoin and the US stock markets has been derailed at least temporairly as Bitcoin has dropped 36-40% more than those markets in the last 3 months. Let's see if recent history can repeat itself and things hopefully turn around soon. If you would like to know more about Bitcoin and larger timeframes, stay tuned for my weekly update video 🎬 tomorrow and until then you can check out my last Bitcoin update here below👇! Thanks for stopping by, I hope you liked my post, and if you did, please drop a like or comment, it helps me to improve my ideas and puts a smile on my face! 😃🙏
by DeFeye
1
KOG - BASIC CHART PATTERNSThis is our first post in a series of posts about chart patterns. Followers of KOG will know we are technical traders so we are always looking out for candlestick and chart patterns as part of our trading plans and analyses. These are what we feel the 6 most common and basic chart patterns that you will find almost daily on the smaller time frames. During the course of this series we will look at each and everyone in more detail and give you live examples of how they work. TIP: When trading chart patterns its always best to wait for the neckline of the pattern to break, this confirms the movement in the chosen direction. Chart patters also work best at key levels of support and resistance and at the top or bottom of trends. For example, if you see the price is at the top of the trend and a Head and Shoulders pattern is forming, this is the first sign of a reversal on price. Below is a live example of one of our favorite chart patterns, the Adam and Eve. You can see how we identified the pattern and looked for the neckline to break which confirmed the movement in the direction we wanted. Hope this helps traders. As always, trade safe. KOG
TVC:USOILEducation
by KnightsofGold
8
BITCOIN... WERE ARE YOU GOING ?The Market was all red this afternoon but bitcoin held up his position by staying green today - I am still believing in the head and shoulder scenario I have shown before. Here on the chart we can see: - a small support that keeps bitcoin up - lower day highs for the past week. I think that bitcoin is for now not ready to get out of this zone, but if the support stays, we will (hopefully) see bitcoin shoot up to complete his second shoulder and then undergo a huge correction. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ If you enjoyed this post and agree with me, a like and a sub would be very nice : ) Stay updated for more content Have a nice Day : ) Bye! ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Long
by xtekky
2