Get started

Chartpatterntrading

AUDUSD Head & Shoulders PatternHi Traders! A head-and-shoulders pattern is forming on the AUDUSD 1D chart. Here are the details: The market has found strong support at the 0.65255 level, which is the neckline. The right shoulder is currently forming, and we expect some consolidation around this level before a possible break and close below the neckline. The plan here is to monitor both the neckline and right shoulder and wait for a confirmation signal before entry. Preferred Direction: Sell Technical Indicators: 20 EMA Resistance: 0.66048 Support: 0.65255 Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
5
GBPUSD Outlook 05 Feb 2024 Asia Session PEPPERSTONE:GBPUSD GU price is massive down due to DXY Bullish new last Friday. Now GU is consolidation 1.26112 to 1.26450 Level. That is very good sign to again gain momentum in next week. Based on my Analysis BS: 1.26451 Level After Retest SL: 1.26113 TP: 1.26728 TP2:1.27019 Disclaimer: Please be aware that this information is not provided as financial advice. It is crucial to conduct your research and due diligence before making any trading decisions. Financial markets can be highly volatile and involve risks, and the information provided here is for informational purposes only.
by ChartsInsights
GBPUSD Pressure Mounting On the Pound Hi Traders! A symmetrical triangle has formed on the GBPUSD 1D chart, and we could have a breakout soon as pressure is quickly mounting on the pound. Here are the details: The market has found support and resistance at both the trendline support and trendline resistance of the triangle, as the market is looking for a direction. Looking at the price action, it looks bearish due to the market swings; the lows and highs are starting to get lower, and additionally, the market has broken and closed above the 20 EMA. The fundamental news also supports our bearish view. Earlier today, the MPC Official Bank Rate Votes came out at 2-1-6 which was surprising and worse than expected. Traders will read this as uncertainty for the pound while the dollar continues to strengthen. As long as the market is still below the 20 EMA, our view will remain bearish. We expect some more consolidation before a possible third attempt at the trendline resistance. Preferred Direction: Sell Technical Indicators: 20 EMA Resistance: 1.27508 Support: 1.25965 Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
NZDUSD Ascending Triangle Possible BreakHi Traders! An ascending triangle is forming on the NZDUSD 4H chart, and we could have a breakout soon. Here are the details: The market has found support and resistance at both the trendline support and trendline resistance of the triangle, as the market is looking for a direction. Looking at the price action, it looks bullish due to the market swings; the lows and highs are starting to get higher, and additionally, the market has broken and closed above the 20 EMA. As long as the market is still above the 20 EMA, our view will remain bullish. We expect some more consolidation before a possible third attempt at the trendline resistance. Preferred Direction: Buy Technical Indicators: 20 EMA Resistance: 0.61489 Support: 0.61186 Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Long
by BluetonaFX
EURUSD Possible Falling Wedge BreakHi Traders! A falling wedge is forming on the EURUSD 4H chart, and we could have a breakout soon. Here are the details: The market has found support and resistance at both the trendline support and trendline resistance of the wedge, as the market is looking for a direction. Looking at the price action, it looks bullish; we have had multiple tests at the trendline support and have broken above the 20 EMA. The market is currently on the trendline resistance, and we are looking for a break and a close above the trendline. As long as the market stays above the 20 EMA, our view will remain bullish. We expect some more consolidation before a possible attempt at the trendline break. Preferred Direction: Buy Technical Indicators: 20 EMA Resistance: 1.08501 Support: 1.07960 Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Long
by BluetonaFX
TSLA: Last CHANCE to REACT! - D&W chartsTSLA shares are trying to react today, and this is something that could signal a recovery, which is understandable, given how much the price has fallen in recent weeks and how oversold the stock is at the moment. Since the last top in December, the stock has plummeted almost 30%, breaking all its medium-term supports, materializing a downtrend. I say the price is oversold because the RSI is at an extremely low level, and the last time we saw an RSI below 20, in December 2022, the stock actually recovered after confirming a bottom in the price. TSLA’s RSI analysis and comparison to December 2022: However, the trend is still downwards, and although there is the possibility of a recovery, it won't be easy to reverse the trend. Remember that pullbacks are different from reversals. For the price to reverse the downtrend, we would need to see HH/Hls again, as well as a break of the 21 EMA, which is clearly pointing downwards. What's more, TSLA's price is on the verge of triggering a Death Cross when the 50MA crosses the 200MA downwards, one of the most famous bear market signals. A continuation of the downtrend can be avoided if there is a strong and clear reaction as soon as possible, and now would be a good time, as the price has approached a support region on the weekly chart: We are close to the support line of a bearish channel. Last week's candle could be a possible Exhaustion Bar, but the price needs to react and reject the last bearish candle by breaking through its high at $217.80. Only then will we see a good reaction that could halt the long-term downtrend, or even reverse it. For now, until such a scenario materializes, any recovery could be just another Dead Cat Bounce. Remember that I’ll keep you updated on this, so consider supporting this idea if you liked it, and follow me for more analyses like this. All the best, Nathan.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
5
Symmetrical Triangle on WTI @ D1This daily chart of the WTI crude oil (spot) demonstrates a symmetrical triangle pattern. I will use it for a trend continuation breakout setup. My potential entry is marked with the cyan line, which is located at 10% of the triangle's base width below the lower border. My take-profit will be at the green line, which is located at 100% of the triangle's base width below the lower border. I will set my stop-loss to the triangle's upper point (79.771). I will ignore bullish breakouts from this chart formation.
BLACKBULL:WTIShort
by AndriyMoraru
Double Bottom on EUR/USD @ H4This short-term double bottom chart pattern has formed on the H4 chart of EUR/USD following a clear downtrend. I will use this formation as a potential bullish entry. The two bottoms are marked on the chart. The neckline is marked with the upper yellow line. My potential entry level is at the cyan line. My potential take-profit level is at the green line. A stop-loss (not shown on the chart) will be set to the low of the breakout candle or to the low of the preceding candle should the breakout one appear mostly outside the pattern's borders. I will ignore short signals here.
Long
by AndriyMoraru
1
NVDA: An Unstoppable Rally! How Far Will It Go? (D&W charts).NVDA shares are in a very strong uptrend, and since they broke the previous all-time high around $500 (yellow area), we have been navigating in unknown waters, since there are no more “previous tops” to act as resistance levels to guide us here. Since our previous study, NVDA has made many important movements, so let's update our idea. Remember, the link to my previous post is below this analysis, as usual. In this case, there are a few things to remember that can help us. Firstly, the $ 600 is supposed to act as a resistance, not because it is a technical key point, but because it is a round number. More often than not, the market has a thing for round numbers, especially when it is making new highs, and apparently, NVDA is finding a resistance near the $600 (at least in the short-term). Secondly, since NVDA broke the $500, it also triggered a Rectangle chart pattern seen on the weekly chart, as seen on the chart below: The technical target of a Rectangle pattern is its height projected in the direction of the breakout (as evidenced by the red arrows). This takes is to the $626, approximately. Therefore, although NVDA is having a hard time breaking the psychological resistance at $600, in theory it still has more upside. If this is a buy or not, it depends on your strategy and the time-frame you work, but I understand when I see people worried about it being overbought. If we use a few indicators, like RSI, we see that NVDA is around the 80s area, but there is a problem in determining whether a stock is overbought or oversold using only indicators. On May 2023, NVDA went into overbought territory, as its RSI exploded and I saw many people worried about this. However, the price didn’t correct. In fact, it kept going up, while the RSI dropped, and this is one of the reasons why I don’t trade indicators – I trade price, but I use indicators sometimes as a tool to support my thesis, when I need more confirmation. Therefore, as long as NVDA maintains the pattern on making higher highs/lows, trading above its support levels, the bull trend will persist. For now, there is no technical evidence, price action-wise, suggesting a pullback, and if a pullback occurs, we see many support levels to hold the price, as seen on the chart below, like the retracements, the 21 ema, and in the worst-case scenario, the $500 again. I’ll keep you updated on this, so remember to follow me for more analysis like this, and like this idea to support me. Best regards, Nathan.
NASDAQ:NVDA
by Nathan_The_Finance_Hydra
5