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Simplepatterns

What is Ethereum doing ??What is Ethereum doing? I'm evaluating these two markets (ETHUSD & ETHBTC) in one post And the violet price line in the background is BTC In the 1h chart we are seeing something cool ETH for the breakthrough of its second max ETH for the breakthrough of its second min Kindof looks trapped in the corridor These guys seem Ethereum's new bff also Of course they appear only in the ETHBTC chart & not very much in the ETHUSD chart (bachground) Thus its not a very clear signal Then in the 4h chart we see a more relaxed story Setting new local min and max Nothing seems to explode in the near future And the 1D market more relaxed still But... Considering context, always consider context This may be another page in the story of ETH price 3 bigs tell me this: Big trend change Big volume rise Big price shoot in USD market And, less important So In the end What pattern will the market obey? ETH in a new age of uptrend or ETH just in a normal hiccup Probably none of these, beauty of it, the market doesn't obey Not this market at least Just keep an eye open
by IanMihura
USDJPY - PULLBACK TRADEAs predicted last week we saw a bearish breakout on the USDJPY. After hitting a previous level of inside structure support we started to see a retracement, followed by a bullish pennant pattern to close out our trading week. It'll be interesting to see what the JPY looks like at the open with all that's going on in the southern part of the US but assuming we see normal markets, i'll be waiting for a breakout to the upside, creating a complex pullback and an opportunity to involve myself in a bearish trade. As you can see on the chart i drew out a few killzones & Fibonacci levels, if you're interested in seeing how i did those in a chart it would be easier to simply watch this week's video instead of me writing a few extra paragraphs. I'm not being lazy...it's just Football season and the Packers v. Seahawks game is about to kickoff. Akil Poor Everton, Glad i wasn't able to watch that trainwreck.
Short
by Akil_Stokes
18
EURGBP could be at the highest point now.Hey guys, in front of you you see an hourly chart on EURGBP. The daily outlook of this pair brought me to such lower timeframes: we have a daily resistance here that could push price lower and we're moving in an overbought condition on RSI. This gave me reasons to believe it could be a reversal when i saw the retest failed at the first touch of that previous hourly resistance. Now, i know it's risky because we're against the trend, but my strategy tells me i can take this trade and aim for the lows for the first target and well below that level with my second target. Stops would go above recent highs. If you have questions/ideas, share down below. Otherwise, see you in the next chart!
Short
by Roker1
Bearish Cypher Pattern On Gold + Trend Line ConfluenceGold is currently moving higher however, looking at the daily chart , we can see that the last down move on gold created a lower low. While that lower low was not significantly lower, it is still a sign of weakness & should be noted. We learned in Section 1 & 2 of my "How to read structure tutorial", when we should begin to look for a trend reversal & the simple method I use to identify that point within the trend. We also learned that we should not take any trend trades if price action does not have a dominant trend direction, plus my methods to avoid trading ranges & much much more. (Click on the "how to read structure tutorial" chart at the bottom of this idea if you would like to learn more.) As of right now I am neutral on gold however there are some setups that may provide good trading opportunities in the weeks ahead & It is important to always stay ahead of any market you are planning to trade. Speculating on where price may go in the near future along with important price levels will allow you to plan your potential trades in advanced. Although we do not know 100% where price will go, we can still speculate & create a plan for those potential trades therefore we know exactly what we will do if those setups occur. The weekly chart below is showing a Symmetrical Triangle Pattern & We also have a bearish Cypher Pattern on the daily chart that is in confluence with the price of the weekly Symmetrical Triangles upper trend line (1276). I feel this is a high probability setup therefore I am planning to enter a short position using the Aggressive Cypher Pattern Entry. I will be taking up a small initial position using the Aggressive Entry & may add to that position using the Conservative entry if gold reaches those levels. I will be managing this position on a lower timeframe & plan to trail my stops if target 1 is reached. The chart below shows how I will be trading a breakout of the Symmetrical Triangle. How to read structure tutorial Section 2
TVC:GOLDShort
by Alec40
1
Advanced Trend AnalysesLooks like DoubleTop in Resitance after ABCD Retracement. This hase everything that a trend follower wants to see for conservative entry. First we get the new swing low wich indicates more downside potential than upside - check ABCD Retracement into Resistance (since C retraced deeply into AB, it is natural that D is a smaller Fib extention here 1.27 of AB instead of 1.618 of BC) - check Double Top right into Resitance. For very conservative entry one can wait for the "V" low between the tops to break and hence confirm the DT
Short
by LorbeerInv
3. Trade! Time to get long on 2nd chance DB in Trend directionAfter the highlighted Breakout, price pulled back and formed a double bottom. 1. My Mirror traders followed me to grab some Profti going long on the double bottom on a hedge trade agains our UERUSD short trade 2. We banked profit and shorted on a Lorbeer Pattern 3. Now its time to hop up the hedge again and chase the new hgig on a second chance double bottom trade Which coule make this a potential perfedct 3 run trade
Long
by LorbeerInv
Pattern within Pattern with Pattern. Plenty Pips Opportunity!As we speek the first ABCD gets triggered. If price continues another more beneficial LorbeerPattern is waiting. On profit target yet another Long LorbeerPattern triggers. These are all short to mid term trades. Since I already am short this pair on the long run and hort EURUSD on the long run, I will only trade small size to respect my money management and allocation setting but the LorbeerPattern is impressively powerful so I always get excited seeing one forming!
Short
by LorbeerInv
3
Power of multiple Strategy System - Free Strategy coming up!No matter where the market is going? With a multiple Strategy System you can create opportunity in almost any market condition. Here, red short ABCD and orange long Gartley to name only 2 of the upcoming opportunities. My preferred package is mid-term trend-following + short-term anti-trend + Simple & Advanced Price Pattern. ROI +/- 200 pips p.a. and per FX pair, netted of trade size. As the interest on my system increases on social media and my personal network, I am working on an online module to teach these basics of my system and show you how to use these principles if you wish to. This is no marketing and the modules are totally free so if you have any interest in following the publications please put your email in the comment.
by LorbeerInv
Flag Pattern on NZDJPYHi guys, i've already predicted this rally on this pair a while ago. Now i'm assuming price will continue in the upward direction till it will reach a major structure level. However, with such a trending market it's difficult to get a decent retracement in order to hop on the trend. That's why i'm using this kind of simple pattern formation (flags, triangles, wedges) to have my entry here. As you can see price is now having a brief period of consolidation, but since the previous move was so bullish i'm expecting a similar move again. With a break and close above trendline you can use two type of entries. 1- Wait for a candle close above and then enter at market 2- Wait for a candle close above and a little pullback in order to get a better risk to reward ratio Sometimes you can also use a buy stop order. It all depens on your style of trading. I'll keep you updated. If you want to ask questions or make remarks, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Using Simple Patterns with Trending MarketsHi guys, i've already predicted this rally on this pair a while ago. Now i'm assuming price will continue in the upward direction till it will reach a major structure level. However, with such a trending market it's difficult to get a decent retracement in order to hop on the trend. That's why i'm using this kind of simple pattern formation (flags, triangles, wedges) to have my entry here. As you can see price is now having a brief period of consolidation, but since the previous move was so bullish i'm expecting a similar move again. With a break and close above trendline you can use two type of entries. 1- Wait for a candle close above TL and then enter at market 2- Wait for a candle close above TL and a little pullback in order to get a better risk to reward ratio Sometimes you can also use a buy stop order. It all depens on your style of trading. I'll keep you updated. If you want to ask questions or make remarks, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
2
Daily Outlook on USDJPYHi guys, today that markets are closed i thought i could share my outlook on USDJPY for the upcoming week: as you can see on the chart price has recently broke to the downside the previous support level, this means price is telling us it wants to go lower. Of course we shouldn't chase price, instead we should wait for it to come in our comfortable zones, like previous support that could turn into resistance. While coming there, price could form a simple consolidation pattern (like a flag, traingle or wedge). A break to the downside of that pattern would mean a continuation to the downside, where we have actually a lot of space. I'll update soon. If you want to ask questions or share your view, go ahead and comment below. Otherwise, see you in the next chart!
Short
by Roker1
1