the strong red bar that broken the wedge a few days ago signaled the start of 1-2-3 pattern at point 3 today, it will be an strong engulfing pattern it is also a false breakout of 1) horizontal resistance, 2) a long-term downward trendline and 3) 50 SMA I have three indices in mind: NASDAQ > SP500 > HSI, and HSI is always the weakest candidate for short ...
the broken ascending trendline signled the start of 1-2-3 pattern enfulfing candlestick at point 3 confirming the strong reversal the enfulfing pattern also false breaks a major resistance the 4th times 50 SMA was broken, this time seems real
It is forming unconfirmed 123 pattern. Needs to break confirmation resistance to reach the target price.
I don't have much experience or confidence trading this sort of pattern 1-2-3. So not going to be taking a trade, but wish to note it down as part of my back and forward testing of this pattern to see if it offers any edge. Decided to publish in case if anyone out there is interested in this sort of pattern.
Take-Two Interactive Software is forming 123 pattern. $135.7 is the breakout resistance
Hello traders, another good opportunity in the stock market - and that is GOOGLE. ( NASDAQ:GOOG , NASDAQ:GOOGL ) We see strong patterns and support levels there. But do not rush into it! Why? Because we have to w8 for the confirmation! The market spent too much time below the VERY strong trend-line, which means we don't know if it is valid Support or...
Hello traders, many support lvls in the NASDAQ:AAPL market raises confidence to enter LONG trades. We analyze the graph using very sophisticated tools - Market profile, Volume profile and well-known and typical Price Action. BUT! Even if we analyze everything beautifully, it does not mean that it will work out. Keep in mind that coronavirus causes panic...
Strong bullish movement ended at level 1568.73 forming wave (A) then corrective wave (B) is occurred until 61.8% Fibonacci level of preceding wave (A) at level 1548.78 price is rejected from this level RSI broke downtrend MACD shows bullish momentum Price is supported on Moving Average 100 Above HVN at level 1552 It's expected forming strong bullish wave (C) to...
GJ LONG - SWING TRADE -123 MOVE -TREND -50% PULL BACK ZONE -BREAK AND RETEST DEMOING TEST
EURCAD M DOUBLE BEARISH HEAD & SHOULDERS I dont know if im just seeing things or im just that GREAT! just kidding guys! but we may see two bearish head n shoulders play out. overall we see a downtrend, with a Ato B now C retracement. Bigger Purple Rain head N shoulders, with the right shoulder forming a mini H&S Yellow. Lets see what happens....
What is a 1 2 3 Pattern ? We can say that it is the bottom, a correction, a re-test, and a rebound. The pattern usually occurs at the end of trends and swings, and they are an indication of a change in trend. They can also be found within a trading range, and they take place when the directional momentum of a trend is diminishing. Long Trade : The long trade...
By locate this potential 123 pattern at end of bullish trend, Sellers have good chance for Short
AUDUSD 30M candle broken the 123 support and become the new resistance to the pair. Now I am expecting a trend continuation on lower time frame with an entry reason. A reversal pattern or the Stoch, CCI combined conformation gives us a strong entry reason for the trend continuation.
USOIL went for a deeper correction and reached 61.80% retracement of its setup bull leg. Bears look very convinced at this point and going lower here could initiate a swing break that would put a lot of pressure on the longterm bull trend. Judging from previous behaviour, market inertia should take hold here and demand should be flowing in anytime. Higher TFs are...
As predicted in our analysis over the last 2 day, there was a very strong bullish pinbar candlestick off of a key level, and then on the hourly charts there was a very strong bullish double bottom pattern. You can see those previous analyses here and here As I had mentioned, we simply needed a catalyst to push prices up and begin validating these bullish...
As we can see here, a 123 reversal pattern is forming, BTC can not make it to break the new level at 9188 (marked with number 1). So we wait for price to go down below 8515 to confirm a new downtrend. Additional, MACD below shows a signal for short orders, I think a bearish trend is possible. Price may bounce back at strong support zone at 61.8% fib and go back...
QQQ is not a safe buy here. We have a bearish normal TK cross in the cloud and a clear rejection of the Kijun line on the 4 hour chart. Cloud is also twisting red which is another indication of a more downware movement ahead. A second item to note is the DMI. The (DMI-) is at 33 with the ADX at 43. Both are indications that the bears are still in control. We...