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GBPUSD → Favorable environment for further growth FX:GBPUSD is forging a correction within the local range after a retest of trend resistance. Most likely, a "flag" pattern is forming, which implies further trend continuation. On D1 we see that the price is overcoming the downside resistance and consolidating above the key support at 1.26525. The next year may start with the strengthening of the pound sterling on the back of favorable fundamental environment regarding the TVC:DXY , which intends to decline. From a TA perspective, the currency pair may form two scenarios: Breakout of the flag resistance, price consolidation above 1.2715 and growth towards the target. Continuation of correction to support, further rebound and growth to the target Support levels: 1.2615, 1.2506 Resistance levels: 1.2715, 1.2784 The global trend will continue but after a small technical correction. Regards R. Linda!
Long
by RLinda
19
🚧EGLDUSDT will Go Up Again🚧 Road Map(DAILY)🗺️!!! ➡️EGLD has done a Impressive Movement recently but the odds of another bullish Movement is Pretty high because the pattern which EGLD is in, Is a Bullish Flag Pattern! Since The break out has not happened, there is no confirmation of a Bullish Movement But If It happens, we Can Expect a Bullish Movement as much as the Measured Price movement (flag pole) to happen! 🤑 Stay Awesome my friends. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Thank you and for more ideas ❤️like❤️ and 🌟follow🌟!
Long
by CobraVanguard
2
ETH → Conglomerate of bullish patterns. Waiting for growth ↑Ethereum COINBASE:ETHUSD is forming a conglomeration of bullish patterns amid a strong uptrend that continues to show chic preconditions for further growth. On W1, the price forms a retest of the resistance of the uptrend range. The price successfully fixes above the strongest support zone 2041 and in fact the bulls define for themselves the lower boundary of the range, beyond which they have no right to let the price go. The area of 2300 is important for us in the medium term. This level shields us from a new range with the width of 55% of the price movement. I've seen two scenarios on the 4H timeframe. But first we should pay attention to such nuances as: bullish trend (strong), ascending triangle, the breakout of which continues to influence the price formation, as well as the bullish pattern "flag", which can be interpreted as: correction on the bullish trend before the continuation of growth. Support levels: 2190, 2131, 1980 Resistance levels: ascending resistance line and 2030 On the background of the retest, a false support breakdown is formed and the market forms a pin-bar candlestick - a strong signal for further growth. In addition, the conglomerate of bullish patterns " ascending triangle " and " flag " also forms the expected bullish potential. In the near future we expect the realization of one of the above scenarios with further growth. Regards R. Linda!
BITSTAMP:ETHUSDLong
by RLinda
3
Market structure, Right side of the marketMarket structure is one of the most important thing one can learn in trading. If you are day trading or investing staying on right side of the market is very important. Market structure help to identify the right side of the market. Lets say market is making HH (Higher high) and HL (higher low) that's bullish market structure. Meaning buyers are in control and its a bull trend. If market making LL (Lower low) and LH (Lower high) then seller are in control making it a bear trend. Market are always in trend or trading range. In trend you are either in a bull trend or a bear trend. Market usually don't go from bull trend to bear trend. Often it will stay a trading range after a trend. If market breaks that trading range in trend direction then we call that flag pattern. If it was a bull tend a bull flag and on a bear trend a bear flag, but if price fails to continue going in earlier trend direction then its become a failed flag and then trader thinks we might get a trend reversal. lets say market is in a bull trend so its making HH and HL . But if market fail to make a HH or HL and it ends up making LH then people start to think if this bull trend is still a strong bull trend which can cause market to shift from bull trend to trading range. And after a LL many bull will get out of their position which could create a LH and end up reversing a trend. In which case if price in a bull structure and market making HH and HL you should only be a buyer and after market structure change its direction then you can think if you should sell.
FX:NAS100Education
by bijoypq
CRO: Tightening Below Key Resistance (BULLISH)🚀📉Today, let's explore the exciting developments on the CRO chart, where a recent breakout from a falling wedge pattern has set the stage for potential upward momentum. The coin is now consolidating beneath a critical resistance level, teasing the possibility of a decisive breakthrough. Here's a closer look at the current scenario and what to anticipate next. 📊🚀 Analyzing CRO Chart: From Falling Wedge Breakout to Key Resistance Battle Falling Wedge Breakout: Pattern Formation: CRO recently experienced a breakout from a falling wedge pattern, a bullish sign that often precedes upward movements. Momentum Shift: The breakout signaled a shift in market sentiment, hinting at potential bullish momentum. Consolidation Beneath Key Resistance: Critical Level: CRO is currently consolidating beneath a key resistance level, a crucial zone that traders are closely monitoring. Accumulation Phase: The consolidation suggests an accumulation phase as the coin prepares for a significant price move. Gearing Up for the Challenge: Potential Breakthrough: Traders and investors are eyeing the possibility of CRO challenging and breaking through the highlighted resistance. Volume Analysis: Confirming the breakout with a surge in trading volume would add weight to the bullish case. Trading Strategy Considerations: Confirmation Signals: Wait for Confirmation: Prudent traders may consider entering positions after a confirmed breakout and retest of the resistance turned support. Volume Validation: Verify the move with robust volume, indicating substantial market participation. Risk Management: Stop-Loss Placement: Implement effective risk management strategies, including well-placed stop-loss orders, to protect positions. Monitoring Key Levels: Keep a close eye on key support and resistance levels for potential trend reversals. Price Outlook: Optimistic Scenario: A successful breakout could pave the way for a sustained upward trend, with potential price targets in focus. Conclusion: CRO's journey from a falling wedge breakout to the current consolidation beneath key resistance presents an intriguing narrative. Traders should exercise patience, await confirmation signals, and stay vigilant as the coin gears up for a potential breakthrough. ❗️Get my 3 crypto trading indicators for FREE! Link below🔑
COINBASE:CROUSD
by AlexWhale
3
What is the ( Flag pattern) ?A flag pattern is a technical analysis chart pattern that can be observed in the price charts of financial assets, such as stocks, currencies, or commodities. It is considered a continuation pattern, indicating that the prevailing trend is likely to continue after a brief consolidation or pause. The flag pattern is formed by two main components: Flagpole : The first part of the pattern is a strong and sharp price movement, either upward (bullish flag) or downward (bearish flag). This initial move is known as the flagpole and represents a strong surge in buying or selling activity. Flag : Following the flagpole, there is a period of consolidation where prices move in a rectangular or parallelogram-shaped pattern. This consolidation phase is referred to as the flag. The flag is characterized by decreasing volatility and typically forms a channel or a rectangle. There are two types of flag patterns: Bullish Flag: The flagpole is an upward price movement, and the flag is a downward-sloping consolidation. This pattern suggests a temporary pause in the upward trend before a potential continuation. Bearish Flag: The flagpole is a downward price movement, and the flag is an upward-sloping consolidation. This pattern indicates a temporary pause in the downward trend before a potential continuation. Traders often look for flag patterns as they may provide insights into the market sentiment and offer potential trading opportunities. The breakout direction (up or down) from the flag pattern is considered a signal for the potential future price movement. However, it's important to note that not all flags result in a continuation of the previous trend, and traders often use other technical indicators and analysis to confirm signals and manage risk.
BINANCE:BTCUSDEducation
by CryptoSphereTG_1
potential triangle breakout or bull flag on Bitcoinlet's analyze the potential triangle breakout or bull flag on the Bitcoin chart with the current price of 34,300 USD. Retest of Support at 31,800 USD: After a downward breakout, it's possible that the price may retest the newly formed support level. This is a common occurrence, as the price checks whether the new support holds. It's crucial to closely monitor whether the price respects this level as support or breaks below it. Bull Flag Pattern: If there's an upward breakout from a "bull flag" pattern, it's a positive signal for a potential price increase. A bull flag is typically seen as a consolidation period followed by an upward trend. When Bitcoin's price rises above the upper boundary of the bull flag, it may indicate an impending upward movement. Please note that cryptocurrency investment is highly risky, and technical analysis is just one tool for market analysis. It's important to consider fundamental factors and have proper risk management strategies in place. Additionally, staying updated with current news and events related to Bitcoin is crucial, as these can significantly impact the market situation.
COINBASE:BTCUSD
by RC_CRYPTO_SURFER
Advanced Bull Flag ConceptsHave you ever wondered why price action sometimes forms a bull flag pattern? Have you ever wondered if there is a way to predict whether a bull flag will break out before it actually does so? In this post, I will try to address these questions by presenting a couple of theories about the nature of bull flags. Bull Flag Theories (1) The flag structure of a bull flag tends to form along Fibonacci levels, with the ideal flag proportion being an approximated golden ratio to the flagpole; and (2) Fibonacci and regression analyses can provide useful insight into whether price will successfully break out of its bull flag pattern, sometimes long before price even attempts to do so. I will try my best to clearly explain both theories in detail below. Note: Although this analysis is also generally true for bull pennants, bear flags, and bear pennants, to keep things simple I will focus solely on bull flags. Additionally, this analysis is generally true across timeframes. Part I - The Basics of a Bull Flag First, let's begin with the basics. As shown in the image below, bull flags form when an asset is in a strong uptrend. The uptrend forms the flagpole of the bull flag structure. The flag structure forms when price consolidates, usually in a falling trend. This consolidation phase is often characterized by price oscillators rotating back down while the price retraces only a small part of its prior upward move. From a market psychology perspective, bull flags often form when most market participants who bought the asset continue to hold it expecting the uptrend to resume, while only a minority of market participants sell (or short the asset) as its price corrects downward. The bull flag pattern is a continuation pattern because it reflects the market's general expectation that price will eventually resume its upward move. Once the price definitively breaks above the upper channel of the flag (often with strong momentum and high volume), the bull flag pattern is validated. Upon breakout, the expected move up is equal to the vertical height of the flagpole. Part II - The flag structure of a bull flag tends to form along Fibonacci levels, with the ideal flag proportion being an approximated golden ratio to the flagpole Here's where things begin to get interesting. Below is the golden ratio. Two quantities, a and b (where a > b ), form the golden ratio if their ratio is the same as the ratio of their sum to the larger of the two quantities. (See the equation below) The equation above shows the Greek letter phi which denotes the golden ratio. Phi is equivalent to a/b when such ratio is also equivalent to (a + b)/a. Although bull flags can take various forms, it is my hypothesis, based on chart analysis and research, that the most perfectly structured bull flags (ones that also have the highest probability of successful breakouts) occur when the flag forms a golden ratio to the flagpole. Mathematically, this means that the vertical height of the flagpole is equivalent to (a + b) and the vertical height (i.e. the width) of the flag is equivalent to b. This is also to say that price retraces down to the 0.382 Fibonacci level as measured by applying Fibonacci retracement levels along the flagpole (or to the 0.618 point on the vertical height of the flagpole if one measures from the bottom to top). I realize that this can be quite confusing, so let’s walk through some visualizations. Let's first visualize this hypothesis using the golden rectangle. Below is an image of the golden rectangle. A golden rectangle is composed of a square (with sides equal to a) and a smaller golden rectangle (with width equal to b and length equal to a). Now let's rotate the golden rectangle to better visualize the hypothesized flag pattern. The bull flag is hypothetically an approximation of the golden rectangle, whereby the width of the flag is in a golden ratio approximation to the length of the flagpole. In the illustration below, there are multiple bull flags contained within a Fibonacci spiral. The spiral is made up of golden rectangles, with each larger golden rectangle containing a smaller golden rectangle inside it. The smaller golden rectangle is the flag structure, and the length of the larger golden rectangle is the flagpole. One can think of the Fibonacci spiral and the golden rectangles as a series of bull flags that build on top of each other in a repeating pattern. In this diagram, price is represented by the increasing length of the sides of each golden rectangle. In other words, the price on a chart can be seen as spiraling higher after each bull flag breakout. Of course, not all bull flags form a structure that approximates the golden ratio, but it is my belief that in forming a bull flag, price action is aspiring to achieve as close of a golden ratio approximation as it can. I believe that the bull flags that best approximate the golden ratio structure also present the highest probability for a successful break out. To learn more about Fibonacci spirals, including the golden spiral that Fibonacci spirals approximate, you can check out this Wikipedia article: en.wikipedia.org Part III - Fibonacci and regression analyses can provide useful insight into whether price will successfully break out of its bull flag pattern, sometimes long before price even attempts to do so. To see how Fibonacci levels and regression analysis can give insight into whether a bull flag will break out or break down before it does so, let's consider an example. Let’s consider the massive bull flag that the iShares Russell 2000 ETF (IWM) formed in 2021. In 2021, the monthly chart of IWM formed what appeared to be a bull flag, as shown below. Now let's see why Fibonacci analysis and regression analysis were warning that this bull flag was not likely to break out successfully. First, IWM's price did not retrace to a Fibonacci level before attempting a breakout (when using the pole as the Fibonacci retracement reference point). In the chart below, we see that price tried to break out, without even so much as retracing down to the highest Fibonacci retracement level: $196.71. By not undergoing Fibonacci retracement, price did not give its oscillators the opportunity to rotate back down fully. Instead, price remained overextended at the time it attempted to break out. Now let's look at regression analysis. Below is a log-linear regression channel that contains IWM's entire price history. As noted in my prior posts, a regression channel simply indicates how far above or below the mean (or average) price an asset's current price is trading. In the regression channel above, the red line is the mean price, the upper channel line is 2 standard deviations above the mean, and the lower channel line is 2 standard deviations below the mean. A successful breakout of the bull flag would have taken IWM's price way above its regression channel, to a level that is too many standard deviations above its mean price for us not to question the probability of the breakout’s success. Achieving the full measured move up would have been extremely unlikely, assuming that the regression channel is valid and that price tends to revert back to its mean over time. What was more likely than a breakout was a breakdown, and a reversion back to the mean, which is what ended up happening with IWM. Another interesting note about IWM’s bull flag is that it presented a false breakout in November 2021. This false breakout was presenting multiple warnings signs including being a UTAD test of a Wyckoff Distribution. As shown below, however, another important clue that the November 2021 breakout would likely fail was that the breakout was not confirmed when comparing IWM to the money supply (M2SL). See the chart below. One can interpret this chart to mean that in late 2021, IWM’s price was rising because the central bank was increasing the money supply, but not due to improving strength of the underlying companies that comprise the ETF. Using the money supply as a ratio to an asset elucidates the true inherent strength of the asset's value. To understand more about why the money supply can be used in this manner, you can check out my post below. Part IV - Additional Comments I have a few additional comments. I usually use Fibonacci levels on a log-scale chart to identify Fibonacci spirals because Fibonacci spirals are logarithmic spirals. However, when using Fibonacci levels based on log scale, the ratios, percentages and numbers, can seem quite confusing because they are logarithmically adjusted. If you choose to replicate my process, please be mindful of this. While using log-scale charts is critical for higher timeframes (e.g. the monthly chart or higher), I have not identified much benefit to using it on shorter timeframes. In a prior post, I noted that Plug Power (PLUG) is currently forming one of the best-looking log-scale, golden ratio bull flags I have ever seen. If my above hypotheses are true, I would expect to see PLUG move dramatically higher in the years to come. For more information about PLUG, you can read my post linked below. (This is not a solicitation to buy PLUG. Please do your own research and carefully consider all risks.) At the risk of making this post too long and too dense, I just want to briefly note that it is also my hypothesis, based on observation and research, that the golden ratio is where many S-curve dilemmas are solved. If you don't know what an S-curve dilemma is and you'd like to read about this you can see my post below about Jumping S-Curves . In short, an S-curve dilemma is another way of conceptualizing the question of whether a bull flag will break out or break down. I hope that someone finds value in this post. I spent a lot of time studying, researching, analyzing, and cogitating the mathematical nature of price action to reach many of the conclusions here. Thank you for your valuable time in reading my post.
AMEX:IWMEducation
by SpyMasterTrades
51