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Continuation

This Scenario Can Lead Bitcoin Above Resistance And Even HigherHello Traders Investors and Community, today I talk about a significant issue according to bitcoins price movement on the middle-to-long perspective, there are some important signs which can indicate a break of the strong resistance levels we have above our heads. As I pointed out in recent analysis about the bitcoin price action we are still in an overall consolidation, this consolidation will end when we confirmed in the proper direction, I highly recommend that you go on my account and see the past bitcoin-charts to have a full-perspective about the current price action and where it is going. Alright, the important issue we currently face when looking at the chart is that bitcoin approaches higher little by little with small steps as we have still plenty of resistance-level above. We can see some good bullish confirmations on the locally time-frame but that does not mean at all that we are bullish in the long-run, to get bullish in the long-run there has to come to the right confirmations on the way otherwise bitcoin is still in consolidation. Now, what does bitcoin have to do to get bullish firstly in the middle-term? As you can see in my chart bitcoin is trading in a possible descending broadening wedge formation, this is a formation which is seen on many time-frames from the one hour chart to the weekly chart and it has to be confirmed properly to indicate a continuation and to validate the target of the wedge. This validation will be in this current case firstly the break of the strong resistance-zone you see in my chart, which is a resistance-trendline drawn from bitcoins all-time-high to the down-swings and lower highs of past weeks and months, this trend-line matches also with the upper-trend-line of the broadening wedge thus building a coherent structure which has to be taken out to confirm the broadening wedge. Please remember that a broadening wedge can also fail the confirmation is, in this case, the important part similar to a triangle. Now, what can we expect when the broadening wedge formation confirms accordingly right to the structure? When this scenario sets in we can expect the target to be measured in the range between 12300 and 13800, which depends on the time and level on which the broadening wedge confirmed. When we reach this level after the successful confirmation we can expect high supply in this zone, therefore, I expect a stronger move to the downside in this case we have the first support at the now support line which was the resistance line before. When looking at this fact we see a nearly three years old resistance level taken out now this gives bitcoin possible space for further continuation. After that level confirmed as support, there is a possibility to take out the higher high 2019 and therefore giving bitcoin room to advance higher, please remember that we have to confirm these scenarios and that the direction can only be measured when bitcoin confirms the scenario right to indicate the next steps, this is how technical analysis should work and it is the difference to mere speculation. It is also the critical thinking of which every trader should handle the market, to activate the brain properly and trade what to see and not what to think or hear from people which call bitcoin to reach 1.000.000 in two weeks. Okay, my friends, this should give you a picture of the current situation facing bitcoin, remember that we first have to take out the strong resistance above our heads to confirm the broadening wedge as validating otherwise it can still fail and turn into bearish as the consolidation in which we currently trading is still neutral in trading terms, firstly when we close above the resistance we can see bitcoin closing in the bull-zone. Thanks for watching my analysis, feel free to support my friends and don't forget as I always say: The ambition to transform opportunities into gold remains the most significant tool for a trader. In this manner FAREWELL Information provided is for educational purposes only and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
14
BTCs Thrid Attempt, Will It Fail Again At Resistance Or Succeed?_______________________________________________________________________________________________________________________________________________________________________ Hello My Dear Traders Investors and Community, today this is an important chart because we are facing a difficult situation in BTCUSD. The BTCUSD mid-to-long-term-chart is full of contrary signals at the moment, as I already mentioned in past analysis, on a mid-to-long-term-perspective we are still in an overall consolidation phase because BTCUSD is trading in a big triangle if you didn't saw these analyses I recommend that you check these out when going on my account and look on the past BTCUSDs charts! Okay, let's look at the chart. As you can see when zooming in, BTCUSD bounced at the support just as I forecasted, you can see the support marked with the orange box, the support is between 5770 and 5900 now what is important is that we have still plenty of resistance above us, there is the smaller falling red resistance line on the short-term-perspective and the huge falling resistance line on the mid-to-long-term-perspective (Which also builds the upper-line of the triangle we are trading in). As we are approaching the third time the red-falling-trend-line now I am expecting a pull-back in this region, consolidation is also possible, just similarly as seen with the second attempt to break the resistance. Remember that this is a really strong resistance which brought BTCUSD almost - 58.7 % down, together with the 135-EMA there is a strong resistance-confluence-zone which should be ignored. Now the good news is that when we break these important and strong resistance levels it is a good bullish signal which can be considered for a bullish continuation to the upside. When it breaks it has to confirm fully and the 135-EMA and resistance line should be clearly broken with minimum more than 10 % to the upside, otherwise, it could be still a failure, that sometimes happens when the breakout confirms slowly but not for 100 % and the trend snaps back again in the other direction, it can also be described as a bull-trap. In this manner, there could be still a possibility for a bull continuation although BTCUSD printed only bearish signs in the last-time not to mention the heavy bearish decline which brought BTCUSD from 9200 to 3900, but when the resistance confirms we have still the 38.2% retracement above us and the strong falling red-resistance line which have to be taken out for a full bullish scenario on the mid-to-long-term-perspective. _______________________________________________________________________________________________________________________________________________________________________ The amount of good luck coming your way depends on your willingness to act. Feel free to support for more valuable insight, thanks for your support, my friends! ;) FAREWELL Information is only educational and should not used to be for taking action in the markets. _______________________________________________________________________________________________________________________________________________________________________
BITSTAMP:BTCUSD
by VincePrince
13
Break, Retest, Confirmation with 4H Fib RetracementPrice tested the 4H Support which coincides with an Order Block and 0.5 - 0.618 Fib Golden Zone. Price is in an upward trend. It broke the 4H Resistance too. I think it will retest the 4H Resistance and head towards the Daily high at 161.444. After bullish candle confirmation on the 5 or 15 minute timeframe, I will enter a BUY and target 1:2. TP at 161.44. SL 159.557. If it breaks and retests the Daily high, it may head to the Weekly Resistance at 163.487. I will follow the above and wait for the retest and confirmation before entering a further Long. Alternatively, Take Partials at 161.444 and let it run to the next Key Level at the Daily Resistance. Always use proper risk management suited to your account size. Do not over leverage!
Long
by MsNelly
GBPCHF - Over-Bought Zone Again ❗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 GBPCHF has been overall bearish, trading within the falling wedge pattern in blue. At present, GBPCHF is undergoing a correction phase and it is currently approaching the upper blue trendline acting as a non-horizontal resistance. Moreover, it is retesting a strong resistance zone marked in red. 🏹 Thus, the highlighted blue circle is a strong area to look for sell setup s as it is the intersection of the red support and upper blue trendline. 📚 As per my trading style: As #GBPCHF is around the blue circle zone, I will be looking for bearish reversal setups (like a top bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
AUDUSD possible short, AUD weakness.The AUDUSD market is showing signs of weakness (in favor of the USD) after NFP news on Friday. Thursday reversal in London (as shown in the hourly chart) was a clear manipulation move taking the buy side liquidity from the Asian session. The daily is showing a bearish bias, breaching recent swing lows. We also can see that the swing lows from 11/2 and 12/7, were breached. The trade setup is to wait for a possible retracement towards the 0.618 or 0.786 Fib levels from the measurement of the impulse in the 1H after the NFP. Ideally, this setup will form either during the London or NY session for a possible move lower and continuation of the bearish bias. Initial target would be lows of Friday or lower low after a possible run of the liquidity below Friday's lows. This is a trade idea, for information purposes only. Trade at your own risk. If you decide to follow this idea, position yourself following your risk management plan.
Short
by dfgaviria
Gold 4H Sell Continuation Idea 9/30/23At market close, price has closed below 50% of the 3/13/23 D B FVG, but price is in the top 50% of the 3/17/23 4H B FVG. PLUS price closed with a bearish engulfing on the 8H. Since price is in a downtrend I am looking for price to continue down another 300 pips to the 2023 yearly open. Depending on the type of trader you are I see 3 possible entries from where price currently is: 1. 4H S Fractal If you trade fractals you should already be in this trade. You may see some pull back, but until I see some bullish pressure, I'm looking for price to continue a good 300 pips to the 2023 yearly open 2. 4H B FVG If you are a counter trend trader, you can get a good 140+ pips out of a possible pullback to the 4H S FVG that has been created in the drop before market close Friday 9/29/23. If not stay out and wait for more sell confirmations to get back in the sell 3. 4H S FVG If price does pull back, I'm not looking for more than a good 150 pips into the gap that was created at Friday market close. So from there you can catch the sell continuation down to the 2023 yearly open minimum. The next low is WAY below that. As we know, price does what it wants to do, so be careful and wait on your confirmations. Happy Trading!!
FOREXCOM:XAUUSDShort
by cecedidit
ORCL Textbook Bull Pennant Coincident With Index Support CatchORCL Upside break-out of a Descending Pennant. Some things to note: Hold of 50 EMA within the pattern High volume entry into the pattern with descending volume throughout Notable pickup in activity on the upside break MACD Cross coinciding with break Throwback following the upside break that tracks along the upper bound of the pattern and is halted at the 50 EMA Measuring Implications for the pennant begin with a break out of a previous resistance to the top of the minor move that begins the pattern. The resulting move applies this distance to the beginning of the breakout of the pattern. I have marked and color coded two potential areas to take into account when measuring for price targets, and marked volume POI's to justify those as start-points for their measuring. PT1: 164 PT2: 143 SL: 50 EMA Break-down Some other things going on that I observe: SPX, DJIA, IXIC bouncing following minor (representing trend, not magnitude) decline VIX 200 EMA rejection. Still cemented below 20 for now. This analysis is for future price implications of ORCL. I currently hold a position entered on AUG16. Feel free to reach out for questions, including a review of a textbook pennant. Manage Risk Only invest what you are willing to lose I warrant that the information created and published by me on TradingView is not prohibited, doesn't constitute investment advice, and isn't created solely for qualified investors.
NYSE:ORCLLong
by BarnardR
USDJPY I Impulse correction and continuationWelcome back! Let me know your thoughts in the comments! ** USDJPY Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
UPL Weekly pattern breakdown.UPL has been consolidating in a range between 850 and 650 on the weekly chart. It has been in triangle type pattern and has broken down on a weekly basis. A close below the upward trendline shows increasing bearish pressure. Bearish momentum should increase below the weekly low of 673. One could expect greater selling pressure if price closes below the support at 650 and the 200 Weekly EMA which is also around 654. After the breach of these levels, the following levels could be expected.. Target 1: 621 Target 2: 569 The setup would be invalid if we get a close above 725. Keep watch.
NSE:UPLShort
by Tradeception_
NZDCHF - Continuation To The Downside!Analysis: This setup to us is ideal. Firstly price is clearly in a downwards trend and there is no doubt about this. We've seen price create a series of lower lows and lower highs which confirms that we are in a downwards trend. Knowing this we are only looking for shorts on this pair. Where price is currently is a very interesting area to us. Why? This area has held as major support in the past and as support recently so we now expect that it will hold as resistance. If you've been trading long enough you'll know that very often support can turn to resistance and resistance can turn into support. For more confluence at this area we have the 50% fib retracement level which we expect sellers will be sat at waiting before pushing price down further. We've also got an downwards trendline which has been beautifully respected multiple time showing us the bullish pressure and momentum on this pair. Fundamentally as well we're pretty neutral. Both the NZD and the CHF have almost the same long to short ratio so there isn't any real bias here until we dig a little further and we can see that the NZD only really had an increase in short positions by institutions whereas the CHF has an increase in both long and short positions by institutions so we actually have a slight bias to the bullish side of the CHF which goes with our idea and wraps up why we are bearish on this pair. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read. We appreciate it all. Stay Safe - JPI Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does to. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Short
by jpeacockfx
30
NZDUSD - Will The USD Rally Continue?Analysis: From the charts we're clearly able to tell that price is in a downwards trend, showing us that we want to be shorting this pair only. Last week we saw a break of this key level and we're now seeing that same level get retested for resistance and there is a good chance that this area will hold. For added confluence we have a long term downwards trendline which has been respected multiple times, this gives us more confidence that price is in a downwards trend still. At our area we also have the 50% fib retracement level which we could expect sellers to be sat at wanting to push price down which again works in our favour. Fundamentally the USD is the 2nd strongest major currency pair making it very attractive to buy. The USD also has been on a rally recently showing that the bullish momentum is there. The NZD however is the 4th strongest major currency pair so when we compare the USD to the NZD we have more of a bias to be bullish on the USD then the NZD which goes in our favour for this setup. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read. We appreciate it all. Stay Safe - JPI Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does to. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Short
by jpeacockfx
8