A long position I took I saw a wedge reversal pattern and then a descending triangle. I know that they're meant for short positions but the trade went in my favor. :)
Learningtotrade
USDJPY INVERTED H&S POTENTIAL? (This is an idea) after playing around.
-The current market sentiment is in a downtrend.
-Price has already made a Left shoulder & a Head for this structure.
-4H chart; Price holds at green zone resistance, so a potential ADAM/ADAM DOUBLE TOP:
-Price is below the 200 EMA.
-15minute chart: Harmonic pattern formation:
Quick breakdown of the "bart" BTC market capturing wave. For those of you who are not familiar with this recurring structure here is a quick breakdown of often how the alts are effected by BTC.
As of late the alts have been trying to decouple from BTC movements however the recent bullish injection that came from BCC over the last few days has had it's chance to permeate through the market.
It's a good opportunity to get a clear breakdown of these small week long time frame market cycles.
You can see from the chart above a break down with arrows of the general process of the market.
We start from a position of low influence of BTC price on the alts... which is usually brought about by steady trend motion for BTC...
From this point if we see movement in the big top coins then usually there is a readjustment of sentiment... People start to go into the top coins...
Soon enough, when the top coins are pumping, then the alts start to pump and take positions...... After which the top coins start going sideways and looking spent...
The altcoins that pumped while the top coins were running up are now in a dangerous position where the sentiment within their price action is more coupled to the top coins motions... and we know what happens next!
The "bart" or square wave type shape of BTC and other top coins...
Effectively these serve to capture portions of the market back to top coin dominance.
It's a battlefield out there!
XRP Bull FlagXRP isn't done yet as it seems.
Nice bull flag with 20% profit potential. I already bought at 0.26 but thinking of strengthening my position right now.
Any ideas on this? i'm a novice so feedback is most welcome.
EURJPY GARTLY AND A CYPHER I see a GARTLY AND A CYPHER Pattern Potential.
maybe we can get in either way.
FX_IDC:EURJPY
Price Action study with S&R AUD/USDThis is a study of AUD/USD price action from a novice forex trader's perspective just shy of 2 years live fx trading
The aim of this study is for me to get better at the following:
identifying "key" support and resistance levels
identify good trade setups based off of my analysis of these support and resistance levels
better understand the currency pair's price action in order to make better analysis and trade decisions
learn from any mistakes I make in my analysis, trade setups, and biases on price action
AUD/USD Daily
Price has made a strong bearish moves down to a support area at ~0.71688 level
Last time this price played a support role was back in June 2016
With the strong move down, and a historical support level, I like the idea of a short after price pulls back up from the support level. I think that price will try and test 0.71688 again
Trade setup would only be valid if the daily candle closes in resistance area showing an "indecision candle"
If price continues moving up I would wait for price to find resistance at a another level
