Downloading...
Download

False_breakout

#Oil possible more bearish moveThe bearish move that we see in this chart, which started on September 28th, has formed two bearish channels, preventing the price from going higher seven times so far. As you can see on Friday, January 12th, with the geopolitical news from the Red Sea conflict, the price attempted to form a bullish breakout of the smaller channel but got rejected from the larger channel. As a result of this rejection, not only did the price form a daily shooting star candlestick pattern , but also the bullish breakout now seems like a false breakout, signaling the potential for further bearish movement in oil. We can also see that we have a bearish trendline on Stochastic oscillator which also bring more selling pressure on this commodity. If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
CAPITALCOM:OIL_CRUDEShort
by mohemati
Consolidating?Practicing my crayons skills... Don't judge :) Fixed range VP setup near breakout zones Things of interest - Previous dips chopped before the next leg up - Currently just outside high volume zones. Low vol = consolidation potential? - Holding, so far, previous resistance zone - Sideways moves could give time for breadth to improve - Oil appears to be going up --> good for the markets? - 'Triangle pattern' kinda interesting Position : If asked, I'd say wait for a trend. Full/final position for the year will be initiated on trend confirmation via private scripts, MAs, etc. Not financial advice. Good luck and don't risk what you can't lose!
SKILLING:SPX500
by bluesky509
ETHUSDT had a false breakoutThe price is creating a pennant below the daily resistance and the price had a false breakout. On the daily timeframe, the price tested the 0.618 Fibonacci level with a nice candle. As you can see on the left the price created a W pattern and now the price is trying to have a breakout from the neckline. How to approach? The price needs to have a breakout from the weekly resistance and retest the daily resistance as support on 3200$, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
13
BTCUSDT false breakout?The price had a false breakout from the daily area on 38400 and now the price is trying to come back into the daily structure. the false breakout could confirm if the price will have a daily close above the 39200$ Otherwise, if the price is going to have a rejection from the daily structure and confirm the 4h breakout above the new lows (37600) we can apply our rules for a new short position until 34200. This week will be crucial –––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure.
Short
by InkyGrip
21
BTCUSDT - bull trapYesterday there was a false breakout! super beautiful example! I will tell you below what a false breakout is! False Breakout Patterns False-breakouts are exactly what they sound like: a breakout that failed to continue beyond a level, resulting in a ‘false’ breakout of that level. False breakout patterns are one of the most important price action trading patterns to learn, because a false-break is often a very strong clue that price might be changing direction or that a trend might be resuming soon. A false-break of a level can be thought of as a ‘deception’ by the market, because it looks like price will breakout but then it quickly reverses, deceiving all those who took the ‘bait’ of the breakout. It’s often the case that amateurs will enter what looks like an ‘obvious’ breakout and then the professional’s will push the market back the other way As a price action trader, you want to learn how to use false breakouts to your advantage, rather than falling victim to them. Here are two clear examples of false breakouts above and below key levels. Note that false breakouts can take different forms. Sometimes a false break will occur with a pin bar pattern or a fakey pattern as the false break, and sometime not A false breakout is essentially a ‘contrarian’ move in the market that ‘flushes’ out those traders who may have entered on emotion, rather than logic and forward thinking. Generally speaking, a false-break is happens because amateur traders or those with ‘weak hands’ in the market will tend to enter the market only when it ‘feels safe’ to do so. This means, they tend to enter when a market is already quite extended in one direction (and it’s about ready to retrace) or they try to ‘predict’ a breakout from a key support or resistance level too early. Professional traders watch for these missteps by the amateurs, and the end result is a very good entry for them with a tight stop loss and huge risk reward potential. It takes discipline and a bit of ‘gut feel’ to know when a false-break is likely to occur, and you can never really know ‘for sure’ until after one has formed. The important thing, is to know what they look like and how to trade them, which we will discuss next…
by Yuriy_Bishko
30
Tesla False Break Out | Prijs Weer BullishIn de post van gisteren zei ik dat het waarschijnlijk is dat Tesla naar de support van 900 usd zou gaan om twee redenen. 1: Tesla brak bearish uit de descending triangle. 2: De prijs zat onder de 21 ema. Wat nu echter is gebleken, is dat Tesla vandaag hoger opende dan de close van gisteren. Vervolgens zit de prijs boven de resistance van de 21 ema en de triangle. Dit zorgt er dus voor dat we onze mening moeten veranderen van bearish naar bullish. De data verteld ons namelijk dat de analyse van gisteren niet juist was. Wat je wilt voorkomen is dat je als trader je koppig gaat houden aan je eigen analyse. Wat je wilt of wat je denkt wat gaat gebeuren, is soms anders dan de realiteit. Accepteer die realiteit en zorg ervoor dat je direct klaar staat om een goede trade te maken, ondanks dat je analyse onjuist is verklaard door de data.
NASDAQ:TSLALong
by VinanceYT
[BCC-USD]BITCOIN CASH-FALSE BREAKOUT- LOOSING STEAM!Since May 1st Bitcoin Cash started a breakout that is about 32% so far, which is nice. But not nearly as great as the last breakout of April 17th, which was about 109%.. The last one would have doubled your money in just a few days! This breakout is weak and is loosing steam showing DIVERGENCE and signs of negative volume! I was at first confused for a moment while looking at the MACD and OBV which were giving me false signals. I realize that I'm growing tremendously now, since I take the time to perform a through analysis that is well analyzed! I can catch false signals and see what I couldn't see in the past! Its all about practicing your art. Even though this is not a science, it requires a whole lot a patience, discipline and mastering TA by studying, studying and evern more studying. I just got a new book called Trade your way to Financial Freedom by Van K. Tharp PHD who coaches traders all over the world. (wow im pumped to read it through as fast as I can).... My goals here are to be in the top 3% of traders on trading view. So far I have a an 83% win ratio in the last 45 days which is great so far. But of course that can change in the next 30 days. Bullish sentiment is definitely helping me with that! Right now most of the big price action this past week has been on the major coins. The alt coins are not growing this fast for the exception of a few... If you learned even one thing and enjoy my TA videos , please support my channel and give me a like. Follow me and join my channel so you can see how i profit and what I'm trading or up to regarding Alt coins. PS. This is not financial advise, please perform your own TA , this is only for educational purposes. You are responsible for your own actions. I am not a financial advisor of any kind. Just a passionate trader as you can see, who gets very technical and geeky with this stuff. Thanks CryptoBuzzAnalyst
COINBASE:BCHUSDShort
by CryptoBuzzAnalyst
6
Short term, Medium Term and Longer Term Outlook on Ripple This will be a short term outlook (up to 31st July), medium term outlook (up to 5th August) and longer term outlook (up to 20th August) over the next month for Ripple. Short Term First I would like to bring your attention to the bearish pendant formation which is aqua-coloured. The price is near completion of the pendant but still needs a price increase to 19cents to complete the pattern. I believe this will happen as within the pendant, an inverted head and shoulders pattern is forming and to complete the right shoulder, price needs to increase. This re-affirms the bearish pendant pattern. On the MACD histogram, it has formed a higher low as indicated by the yellow trendline signalling that selling momentum is fading. However, there is some conflict as it shows the fast ma crossing downwards the slow ma. I believe that this signal is not strong as this is a trend confirmation signal. By looking at the ADX, we can see that we are near the lows (Lowest point given by red horizontal line, highest point given by green horizontal line) and that we are not in a trending market but ranging market, thereby nulling the ma cross as a factor in our deduction. Further pointing to an increase to 19cents up to 31st July would be the decreasing selling volume over the last 3 days. From these factors, I believe a price to be expected is 20.765cents in the short term. You may ask why it is not 19 cents as that is where the triangle ends, but an inverted head and shoulders pattern signifies a breakout and therefore the take profit target is at the previous high. Again, the question is asked, if it is a breakout, why the price would not surge past 20.7cents. This leads to the medium term outlook and my reasoning why the breakout is false and is a "fade breakout". Medium Term In the Medium term outlook we begin on the 31st-1st of August. This is where segwit2 or split decision will occur for Bitcoin. On July 21st there seemed to be a general consensus no split was to occur and segwit2 will occur, but fear and uncertainty has risen again as more people oppose the idea of segwit2 pointing to a split (If you would like to read more, here is a link: thenextweb.com). From this uncertainty and likely chance of a split, I believe bitcoin's value will fall, if not from the result then from the uncertainty. Altcoins have some correlation to bitcoin and therefore I believe Ripple will follow suit. The next question is, how far the price will fall. A price target 1 for the fall would be at 16.412cents. This price target has been forecasted from the bearish pendant (aqua colour), where the magnitude of the move after the pendant should be the same as the move going into the pendant. A second more ambitious price target for the fall would be at about 12.5cents (yellow line), this is the base of the pendant that will be discussed for long-term outlook. Long-Term Within the month or more specifically 5th August to end of August, I will attempt to forecast the price. On a longer scale look, a bullish pendant has formed (shown in yellow). After the completion of the short-term and mid-term price action, the bullish pendant will be complete. At this point, price will break-out from the pendant and move the same magnitude as the move leading into the pendant. (Please note that after the medium-term move, the price could range for a while, be it 1 day or 15days, be patient for the breakout). I believe the price after the breakout will increase to an ambitious target of 52.208cents. Always manage your positions, an initial take profit can be taken at 30cents for those that are more risk-averse. This is my first time posting an idea on Trading View, if i'm missing anything or you believe something different will happen please let me know as i always look forward to feedback.
BITSTAMP:XRPUSDLong
by TheTraderJ
2
USDCAD Possible breakout on weekly chart update shakeout on 4hr As I got my order filled overnight, first thing in the morning I saw that prices had gone up on low volume which is an anomaly, then price had dropped rapidly forming a very wide spread bar with low volume which is another anomaly. And now prices are moving up on high volume wich is as sign of strength. If the high volume movement lasts to the last swing high we probably will have a breakout. If volume dries up at the swing high and we start to see wide spread candles with high volume, it will probably be best to close the trade.
Long
by meku.tambu
So everything is rigged (US: Triple new high records since 1999)Hello folks, so as I mentioned earlier in my previous posts. The CAC40 would go higher (so would European indices, but the German DAX wasn't as eager as the French index to do so). The 4300-4450 range worked perfectly, and we went even higher (4500). However . Thursday's (August 11, 2016) US markets was clearly "algorithmically" driven. I think that scalpers and day trader could see how the prices moved *again* in some "strange" fashion. And out of the blue, the US markets were on cloud nine and made a triple all time records that day, altogether (see 1999 and what ensued). The CAC40 and other indices followed suit. Which means that the 4450 level was certainly pierced thanks to lower volume (I don't even need to check any indicator, but my guess could be wrong: are you people confirming or infirming it?) and more importantly, to super mega algorithmic trading. Yes, you probably got my point: The extra 50 points above 4450 was according to me noise inside the noise . Hence the erratic moves and consolidation from Friday. Which means that this mini breakout was probably fake. I would have a short bias/opinion during the first on two days of next week (August 15-21, 2016), until we get to 4445-4460. I would personally go long only after we get at least there, or if we clearly break through 4510-4530 for a couple of days if this scenario doesn't work. But there could be some tricky moves slightly above 4500 this coming Monday before we go back to 4445-4460. Pay attention to that. The risk reward is higher by doing swing trading and shorting. I would short with my eyes *closed* at 4600. 4666 (pivot) could be some "noise target" , but long positions would ultimately fail, hence a stop-loss at 4700. Of course, I do not possess a crystal ball, but there is rationality in apparent irrationality, and the game is about to decipher those moves without becoming slaughtered by the big guns and "smart traders". Go catch those high-probability trades. We are soon getting there. Notice: There's a gap at 4360 (CAC40) and a small gap at 18610 and around 18500 for the DowJones. Tricky isn't it? Which infers to me that shorting provides a higher risk-reward ratio.
INDEX:CAC40Short
by UnknownUnicorn569872
2