Channelbreak
GBPCAD possible short after ascending channelGBPCAD is now in ascending channel and retesting daily trend line. On 4h timeframe might be also possible descending wedge. After breakout of ascending channel the price should go short.
BTC Breakout confirmed on the 1H candleI just wrote a bearish capture outlining what happens if we stay in the descending channel we had been bound to since we broke out of our 7 week ascending channel that started at the beginning of the year. Well not more than an hour or two later that channel was broken, BTC broke up and then came back down and appears to have converted the top of that channel into support.
I write this as follow up but in general as channel and trends break, as we see a divergence, we know a further reversal to some extent is likely. So if you see a channel and you see it break, be vigilant and assess the factors of the break such as if it was up or down, did it come back down and convert the previous resistance into support, has it already passed multiple resistance lines, has it broke out further than previous breaks in the trend, etc.
I just converted from short to long on my leveraged trades but I suspect this just bounces us back into the descending channel we had already started ("Why not this descending channel") which would have us slow trend down until around May.
The COV19 has devastated stock markets, its impact to crypto overall is yet to be seen, will it rise like gold or be impacted by developer shortages, something like this could have unforeseen impacts that invalidates a lot of short and medium term patterns. In the case of the S&P, even the 10 year bull trend has been broken.
Here is what I am seeing as our greatest short term hurdles if we in fact do head back up.
$9100ish, bottom of previously developing descending channel,
$9500, Strong Horizontal historic resistance/support
$9700ish, top of previously developing descending channel.
This is a break out but could just be a break out to a slightly higher and slower descending pattern. So far there is still a really good chance we touch the 5 year trend-line before we go over the highs we established in January.
Do your own research, be tentative to charts when you have money in the markets, be prepared to act on channel and trend line breaks, good luck.
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Buying Intraday USDJPY pullbacks USDJPY is holding the Daily chart breakout. Intraday pullbacks are buyable...
USDJPY SUPER SWING ANALYSISThe pair is on the top of a weekly triangle pattern. On the daily timeframe, made a bearish channel pattern, giving some confirmation that the price could drop. On the 1H timeframe we got a potential formation of a double top pattern.
We will wait for the complete formation and break out of the patterns to enter a short trade
And for a long trade we will wait for a close above the triangle pattern. and some structures and confirmations to buy it
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USD/JPY - Sell after retest USD/JPY has been extremely bearish. We are looking for price to break our ascending channel on smaller time frames.
LTCUSD (Litecoin) 2 Areas Where I Will Be Looking To BuyLitecoin's Bigger picture is at a fairly low price, the market recently broke out of its down channel showing signs for a bull move, now the market already went up and toke out some highs, Im not planning to just jump in now out of FOMO, if Litecoin shoots up now I miss the move and I go look for some other things to trade,
if the market comes back down creating a crown or even if the market goes up a little more and then comes back down to the areas marked in the picture which will also be a crown formation I will look to get in going long.
If you have any questions please ask, if you have difficulties understanding what a crown is or you don't understand this chart, feel free to massage me.
Great Day!!!
Cup & Handle Confirms. Daily Golden Cross Expected to Follow.Disclaimer: If you are primarily interested in copying other people’s trades then this is not for you. However, if you are willing to put in the work that it takes to learn how to trade for yourself then you have found the right place! Nevertheless please be advised that you can give 10 people a profitable trading strategy and only 1-2 of them will be able to succeed long term. If you fall into the majority that tries and fails then I assume no responsibility for your losses. What you do with your $ is your business, what I do with my $ is my business.
Sawcruhteez Strategies: How to BUY THE DIP | Advanced Dollar Cost Averaging Methods
EMASAR: Buy $8,158
50 & 200 EMA’s
15m: Bullish
1h: Bullish
4h: Bullish
D: Very close to getting a golden cross after pulling back and into the 200 EMA:
4 & 9 EMA’s
W:
Patterns
Cup and Handle is confirmed. Target is $11,675 (pictured above)
Bear channel is broken:
Button Bottom:
Bull Flag with $10,550 target:
Horizontals
Trendlines
Daily:
1h:
Futures Curve
Contango with 3.76% spread
Funding Rates
Longs pay short 0.0238%
TD Sequential
4h green 2
Daily green 3
Weekly green 4
Ichimoku Cloud
Have recently reentered weekly cloud
Daily C Clamp is a cause for concern
Conclusion: The Bitcoin chart is starting to look quite bullish if you ask me. We have been reclaiming some major levels and confirming some major patterns. The Wyckoff is playing out very nicely. It seems we are finishing the final stages of markup from that pattern while confirmed some new ones.
Featured is the cup and handle and she is a beaut. As we were recently pulling back I was holding my breath that the 200 D EMA would hold as support. That put us in an excellent position to get a daily golden cross and it also established the handle of this bullish pattern.
That support from the 200 D EMA also appears to have been enough to breakthrough the 6 month bear channel.
This post is marked long because a couple bullish patterns recently confirmed and I do believe that we will reach the targets. That being said I am not buying this level, at least not right now.
This is a major area of resistance and I do not like entering when price retests resistance on the way up. Instead I prefer buying when price retests that level for support.
I am looking to add even though I am still holding onto 100% of the long position that I established at $7,950.
My stop loss is now in break even territory which means I can establish more exposure without risking more than the original 2% of my bankroll. If price does retest the $10,000 level in the next week then I will definitely be setting my sights on buying a pullback to $9,400.
If you are asking why I don’t buy that price right now then read this again.
The TD Sequential is in a healthy position and that leads me to believe that the most likely outcome by this time next week is reexploring the five figure threshold.
PS: The halving is only 104 days away : )
EUR/USD - Reversing soon?EUR/USD has been in this heavy down trend for a while. We are waiting for rejection at the area indicated on our chart.
USD/CAD - Channel break soon!!!USD/CAD has been ranging in this minor range for a while. We are waiting for price to break. We are sell bias, however, we will be prepared if price breaks to the upside.
ZIL Bullish potentialZIL price-action has been traveling through a channel since August with a few attempts testing the upper zone of the Green channel highlighted on the chart.
We believe a new attempt to test this channel resistance is on the way.
Squeeze momentum has been stretching on daily Time-frame with a bullish divergence on four hour TF.
The Major red dotted Resistance above the channel are the next targets in case ZIL breaks out of the channel.
Bitcoin, 3 possibilities.Well the inverse head & shoulders has played out perfectly. My entry at $6,860, and then stop-loss at $7,795 netted me a 13% gain in 5-days. So now where?!
Option #1 - We surge, today (tomorrow at the latest), to $9,000+, break out of the 6-month downward channel and go on a new bull rally.
Option #2 - We break down to somewhere between $7,000-$7,700 and hold there and wait for rebound out of 6-month channel, sending us into bully rally.
Option #3 - We plunge below $7,000 and head probably into sub $6K range, with my target near $5,800.
I got stopped out at $7,795, but then got pulled back in @ $7,870 due to the bullish engulfing candle on the 15 min chart. I may be over-trading this play, but I want to keep profits but also don't want to miss a rally above $8,000. Time will tell.
The "options" are in the order that I see most probable.
Reminder, don't trade emotions, trade the charts and your strategy.
Inverted H&S formed, probable channel shift, $8K comingSo the inverted head and shoulders I was looking for since Dec 23rd is so far playing out perfectly, albeit I predicted the pattern to take a few days longer to form. We bounced exactly off the trend-line support at $6,860 (on Coinbase Pro), a trend-line that has held for 5 years and immediately formed a bullish engulfing candle which closed to show some solidarity.
My entry at $6,860 was about as perfect as it gets and now I am enjoying a nice buffer.
As soon as we break $7,500 (assuming we do) then $8K should be an easy next stop, however we will run into trend-line resistance and probably see a short sell-off at $8K. Assuming it holds above $7,500-$7,700, another bounce would put us above trend-line resistance, break us out of the 7-month downward channel, and in my opinion, lead us into another bull run where we take $10,000 (maybe for good).
As of right now it looks like we're leaving behind the 7-month downward channel and moving up the 5-year long-term support line.
So far so good, but always must keep in mind the market can tank for nearly no reason at the drop of a dime. I have stops set at $7,000 just in case, I won't lose money, won't make much either, but given the pattern forming I think I'll be pushing my stops up here very soon.
Sideways movement for more than 48 hours I'm getting on edge and probably looking to sell.....
WYNN Showing strengthWYNN is displaying bullishness, a bump and run can be observed in the monthly chart time frame. Which is a period of large growth above the trend followed by a run back to the trend. Also a possible cup and handle (it is a long shot) on the ADX. Currently the price is sitting on the bottom of the trend. Great long opportunity.
USDCAD Analysis: Price bounced from a falling trendlineUSDCAD has been following the falling channel since june.
Price bounced off from the trendline and then made a breakout from an ascending channel indicating high chances of heading down.
Long-term channel breakout1)The market has been steadily holding above the upper band of the longterm downtrend channel that started in March 2019(black lines). Until recently the price had been consolidating since 20th of November and finally intends to climb up in a quite decisive manner as you can see today (12/2/2019) - these signs hint on a strong potential of the main trend reversal. Besides, the evidence that supports the major trend reversal is the apparent rebound from the area of long-term support (marked as a grey area 0.8253-0.8320).
Overall, the current trend reversal (the trend has started in March 2019) may be perceived as a correction of a bigger megatrend that's begun in November 2016. My modest target would be 0.8700, (0.382-0.5 fib level of the last downtrend since April 2019.) or the price might extend to the upper band of the mega downtrend - 0.9000.
2)We can see that the market successfully tested the support "B" (Nov 14-19) and the newly formed support "A" (Nov 21-29) outside of the down-channel forming numerous spinning top candle patterns and finally giving up on any downward attempts and skyrocketing followed by the enormous white candle 12/2/2019.
In case of the opening any news positions at the moment, the reasonable point of bailing out from the position would be below 0.8500. You might wait for a pullback to get in or consider jumping on during the current momentum if you don't believe there would ever be any pullback and you're ready to sacrifice your risk/reward ratio for this trade.
3)The recent positive economic data from China - Caixin Manufacturing PMI (51.8 vs 51.7 prev.) might give a boost to NZD. The uncertainty around US&China trade relationship as the most recent trade deal was "stalled" due to Hong Kong enactment doesn't support North America's second-biggest economy as well.
AE Channel Down end ?We have bullish divergence on AE and we have Desending Channel pattern with breakout at upside.
buy from around 2125
sell mid term: 2340 , 2555
sell long term : 3200 Good luck)).
BTCUSD 1D DESCENDING CHANNELDescending Channel is a form of a Range chart pattern. Ranges are repeatable trading chart patterns.
Ranges are consolidation chart patterns that can breakout either direction.
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart).
Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place.
Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement.
When you see descending Volume bars and descending ATR line (which indicates volatility) this shows
a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern.
Trade Management after there is a breakout candle close.
1 - Position size (compare volume bar to volume ma line).
a - Breakout candle must be 100% of average volume for a full position size.
b - If 75% of average volume then ½ position size. (To find 75% of Volume
look at the charts volume settings – divide smaller # into larger # = 75%+)
2 - Enter two trades.
3 - SL for both trades will be 1.5 x ATR.
4 - 1st trade TP will be 1 x ATR.
5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price.
6 - When 1st TP hit – move 2nd trade SL to breakeven.
7 - Adjust the 2nd trade SL to follow price.
*8 – After Breakout candle – if price closes back into chart pattern close trade
*9 - When breakout candle is more than 1 ATR from breakout candle open.
a - Enter 1st trade at candle close with ½ position size.
b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open.
c – Price should pullback to that pending limit order for 2nd trade.
d – If Price returns back into chart pattern close trade before SL is hit.
GBPAUD - Long Don't really want to touch GBP until after the snap election and Brexit
But its looking like a great set up the pullback/correction looks weak so we will see how it goes.
Any questions feel free to ask
