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Continuation

BTCUSD Long following a nice pullbackSo far, we've seen a nice run on BTC. And its been a while since I've traded BTC, but as I missed alot of opportunities since last week, I figured tonight would be a good night when I saw that nice pullback. As I am seeing bullish structure being formed, I entered a LONG, hoping for continuation. Reasons for entering trade: 0.618 Pullback of the last push up Wyckoff schematic, entry on retest Entry on predefined POI As more structure is being broken to the upside, BTC is showing signs of strength for continuation To be honest, I am not confident that we are going too much higher. I would like to see more structure broken to the upside before I think there is a chance that this could continue up. Even if it does continue up, we will likely see a large pullback to grab some of the liquidity created along the way. As for this trade, I've entered a low risk, narrow SL trade, so even if it goes against me, not a big deal. If it breaks the fractal AR, then I will set BE and let it run. And if it continues, I'll take partials at the target in the chart, and let the rest run, hoping for continuation.
BITSTAMP:BTCUSDLong
by AfterlifeTrading
Continuation & Reversal Correction in price action structures In-depth look at Continuation & Reversal Correction in price action structures/patterns Hi everyone: Today I want to revisit the fundamental aspect of trading impulsive and corrective phases in Price Action Analysis. As you all know I focus on multi-time frame analysis and forecasting/anticipating the next impulsive move in the market. To me, the most important part of identifying the next impulsive phase of the market, is to understand how correction works. An impulse phase usually happens after a correction has finished correcting, so the key is to identify and understand how a corrections structure will complete so we anticipate the next impulsive move. You may have seen my videos on this topic, but today I will go more in detail on this, and explain the 2 types of correctional structure the market can create. The market can only be in 2 phases, impulsive phrase or corrective phrase. In addition, the corrective phrase can only be continuation, or reversal. So to fully have an edge in the market, is to understand what the correctional structure the price is currently making, whether a continuation/reversal, then forecast the possible price outlook, and go down to the lower time frames for possible entries. Now, it's important to understand that different traders/strategies/styles will call these patterns/structures in varies names. What they are called or identify isn't important, but the important aspect is to understand whether they are continuation, or they are reversal. In addition, simply seeing price action structures/patterns by itself, is not a good enough entry criteria for me. You want to combine multi- time frame analysis, top-down approach, and with multiples of these price actions all happening so it adds extra confluence for you to enter a particular trade. Seeing a H and S pattern, on a 5 minute chart, without considering the overall HTF and other factors, will not be a consistent move in the long run. Continuation Correctional Structure/Pattern Bullish/Bearish Flag Bullish/Bearish Pennant Parallel Channel Reversal Correctional Structure/Pattern Ascending/Descending Channel Rising/Falling Wedge Double Top/Bottom Head & Shoulder Pattern/Inverse H and S “M” and “W” style pattern Reversal Impulse Price Action I will forward all the price action structures/patterns videos I have made in the past to help you understand each of the structures more. Impulse VS Correction Multi-time frame analysis Identify a correction for the next impulse move in price action analysis Continuation Bull/Bear Flag Parallel Channel (Horizontal, Ascending, Descending) Reversal Ascending/Descending Channel Reversal Double Top/Bottom Reversal Head & Shoulder Pattern Reversal “M” and “W” style pattern Reversal Impulse Price Action Continuation/Reversal Expanding Structure/Pattern Any questions, comments or feedback please let me know. :) Thank you Jojo
Education
by jojofang0901
40
XAUUSD ANALYSIS - UpdateWe have now reached a support zone, formerly resistance as noted in the picture above. we still anticipate a break of this support level to create the next lower low which can be seen on the daily chart. Now, the US will be reporting Home Sales and Job claims. Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week. A higher than expected reading should be taken as negative/bearish for the USD, while a lower than expected reading should be taken as positive/bullish for the USD. The DXY also suggest we could see a push to the up side as we have broken resistance and maybe retested. Retail Forex sentiment on myfxbook.com sees 70% of retail traders in a long position while 30% are short. My bias is Short though we are at a zone price have respected over and over again. if we can break the zone (1794 - 1790), we could eventually see the flush to 1762.50. on the flip side there are buyers grouped at the zone (1794 - 1790) and we are expecting news so anything can happen.
OANDA:XAUUSDShort
by xenofinance
3
SFET about to make a decisive move On the weekly chart: After completing a large cup shape, SFET has been consolidating into a wedge/triangle pattern. A potential breakout was achieved on the wedge, and a curved backtest is underway near 1,20. A broader triangle may also exist, and the action would be nearing completion of that as well. Looking for a rebound off the 1,20 area and a weekly candle close above 1,39 for breakout continuation. Lots of bullish news has been coming out of this one lately, with one PR release accompanying a very large volume spike in April.
SLong
by Monty_Burn
Why i think the bullish sycle is still intact! Hello there, this idea is more looking on the mid to long term analysis and why i think bitcoin is not done yet with his sycle First of all its important to understand what a bullish sycle remains bullish even though we dropped over 50% in stock terms you would consider -20%+ to be the end of a sycle but as we all know 20%+ changes are the usual thing in crypto especialy on alts. the second key of a bullish sycle is your up trend channel wich is shown as the purple line here i do like to share this idea simply becuase this can be a great buy oppertunity with a very good risk reward that potentialy can play out here either way even so if this will not play out i still think considering stoch being very low on daily and weekly even lower and has not been low since the 2018 bear market would be considered a good buy oppertunity anyway. that being said we can see that the last touch around 10k triggered a period of buyers that led all the way up to 60k, a x6 times basicly, now dont get exited i dont think we will x6 and there are alot of other factors we need to account for like the ma200 daily, and not to mention resistance zones that are crucial to break out of before we really have a good foundation of a bullish sycle continuation in my last idea about a wyckoff accumulation pattern is still at play as we havent made any lower highs then the spring and test zone, see my idea, keep in mind that subwaves are indicational and doesnt nessesary have to be followed aslong its holding the key requirements of the specific phases the reason i am saying that is becuase it supports the idea i released now and aling very well with eich other thanks for reading and if you liked it please dont hesitate to follow me and throw me a like! ;)
Long
by NGenetics
9
US100 Analysis: Week 7/12/21 - 7/16/21 My overall medium term bias for the market is bullish. Right now I'm seeing any dips as opportunities to buy. Technically we're in a strong uptrend and we just had a healthy pullback. I see it breaking even further to the upside after a small retracement. News I'm watching out for. (all pairs) - Comments about the timeline of interest rate hikes. - Comments about quantitative easing (tapering or not). - Keep an eye on the opec+ spat. Watch for tapering of production cuts. Watch for oil demand projections returning to pre-pandemic levels earlier than expected. - Any news about vaccines being ineffective against new variants of the virus. - News about more lockdowns due to virus variants. GL Traders! "You don’t need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ." - Warren Buffett
ULong
by natron
BITCOIN - It's Going As ExpectedHello everyone, rouzwelt here Well as you can clearly see in the chart, price is now reached to the lower side of the uprising yellow channel and is about to break below it, if you have been following me lately, you know that I've been talking about a potential test of the crossing point of the blue down-trend line and lower side of the uprising yellow channel in my post on June 30 (Link: ), this way it would be testing these 2 potential dynamic supports at the same time. But it's worth mentioning that we still have not fully broken below it, I believe we still need more confirmations before entering a short trade, and 2 good enough confirmations for us would be candle body close below those 2 lines in 4H or daily timeframe and also a new lower low below the last swing low (red dotted line). In that case I'll be entering on my short trade which I've been talking about lately. Below is a screenshot of my very last post, in which I was talking about my short trade setup idea at the break out of the yellow channel, and I've been projecting the probable price actions and right now as you can see it is playing out with good accuracy as I've been expecting. I also mentioned the lack of volume and demand at rallies up which is a crucial necessity of a sustainable uprise. But what we actually are seeing at this moment in the main chart is increase in volume at the current rally down, which is an indication of more supply coming in on these levels. So with all those said above, I'll be waiting for those confirmations I mentioned before entering my short trade, as I said earlier we still have not fully invalidated the yellow channel, so we need to wait a few more hours before jumping in on a trade, because before seeing any of those confirmations, price can still get back inside the yellow channel and continue its move up, so we don't want to enter on any trade blindly. I'd like to remind you to please check my last 2 posts on Bitcoin, because you can find the details of my short trade setup idea (entry point, SL, TP and ...) in full if you'd like to enter on this trade along with me, as they are important considerations before entering any trade. I'll be updating this post whenever I open my position. And please If you find this post useful then support me by hitting like, share and comment below if have any opinion about it, I'd appreciate it a lot. And as always have fun and trade safe.
Short
by rouzwelt
12