Now that price action has broken the resistance line, we can keep an eye out for a price drop. This is backed by the sharp ascending wedge we see on the 1HR chart which creates a good short term trading set up. You can also trade the drop down the bottom of the Daily Structure for about 165 Pips. It is also completely possible that price is actually breaking...
On the Daily chart, we see an enormous descending wedge. Zoom into the 1HR chart and we see yet another sharp descending wedge which is almost about to be completed in about another 70 Pips. Once we see price complete the structure, we are to wait and see if we can find a pullback to trade the impulse up, or if the price trickles back down to the Daily Structure...
At this point, price action is in the green and showing signs of a pullback coming which would be a great opportunity to buy into the market. This could also be a reversal, however, yet unlikely considering that price action has just bounced off the Daily support line and has created a MTF descending channel on the 4HR and 1HR charts.
Looking at the 4HR chart, we see mixture of descending channels that span a few time frames. This could be a potential Buy opportunity for some within the next 2 weeks to make anywhere between 600-800 units against BTC.
This is my first time really looking into and looking for patterns within a crypto market. I believe that the 4HR chart shows a good ascending channel where price action had just bounced back from the patterns support line. This would indicate that price action will be dropping a few hundred pips within the next 2 weeks before continuing its long-term uptrend.
Looking in at the Daily chart, we can see a series of potential trading opportunities that one might have profited from. Multiple descending channels yet price never dropped so low so as to touch the 79.809 support line. Looking in at the 4HR chart, we see what looks to be the beginning of a reversal impulse, correction, impulse with price entering the next...
Looking at the Weekly chart, we can see the formation of a descending wedge Looking into the Daily chart, we see yet again another descending wedge. Its a more defined wedge on the 4HR chart. As we can see from the 4HR chart, not only is there a descending wedge, but we actually see that price has just broken past the resistance line of the pattern. It is...
AUDJPY Daily chart shows a slightly ascending channel following by a drop to the 75.227 support line and breaking it. We could see a potential reversal at this point or it can reach 71.018 before reversing. Looking in at the 4HR chart, we see an evening star formation with an impulse to the upside before entering what now looks like a consolidation period....
Initially, when I saw this trade opportunity, my trend line position had made it look like price had just broken through and was on its way up. However, after adjusting my trend line, I saw that price just bounced off the resistance and was trickling its way back down the channel. Unfortunately, I entered the trade when price "broke" through the trend line and am...
We currently see a descending channel on the Daily chart with a breakout to the upside. Price is currently pulling back which will allow an opportunity for traders to hop in on the trade. My TP is 300 Pips from current price with a tight SL of 25 Pips. Looking at the 1HR chart, we see the same descending channel pattern we see in the higher time frame. This...
This market analysis of EUR/NZD is for those who were able to enter in on the original impulse of the move. We have a pullback to the 50% Fib retracement and placed another sell order at the 38% Fib Line with a 80 Pip Target and 28Pip Stop Loss. Hope some of you can capitalize here! Great scale in opportunity for those of you who caught the first impulse!
Price has been moving in a descending channel, in a series of impulses and correction, and we can expect prices to continue to move to the downside. There is potential for short term long entries due to an inverse head and shoulders pattern, which is a reversal pattern, but first price has to break the neckline and this will give us confirmation to enter...
I am only looking for Long Set ups at the moment, unless price creates another structure. A- We have broke the Double Bottom in a Descending Nature. I will be ooking for any rejections or Retracement candles around this area. B- We may head lower, but only if price is Descending will i still be looking for a Buy setup if we get the Touch on the trend line. If...
Option A price correctively moves to the upside slightly breaking the High and then Retracing. Option B Price Rejects off the Double Top and drops. I am only looking for selling opportunities due to the HTF Structure. - P
Similiar setup to yesterday. looking for D completion near same entry point as yesterday slightly wider risk/reward on this on these trade.