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VOLUMEBREAKOUT

NAS100 TO RISE TO 12000 ? Last week the market showed that people have mixed feelings about the market right now which showed in a consolidation from 11400 to 11700. Last night the market down to 11380 and exploded to the upside breaking out of the consolidation no trade area which also serve to be a high volume node and create a triple bottom formation. Since this market broke out of consolidation expect to see the market slightly retrace. As long as the market does not retrace below the start of the lvn at 11700 you can expect that the market will revisit the 11960 area. Look for a retest of the past resistance at 11700 and turn it into a support and look to take advantage of a bullish run to 11960 which would match the fall area that it made when it fell on June 28
OANDA:NAS100USDLong
by CarterKyleCapital
Bitcoin Bull Flag Setup In The 4-hour ChartLooking at Trading a possible Bull flag pattern on Bitcoin (BTC/USD) today. In the Daily time frame, we are still in that large ascending channel and we have had a nice bounce off of the bottom of the channel suggesting a move higher. In the 4-hour chart, there is a bull flag forming. We have an impulsive move up with four bullish candles taking out previous resistance. Accompanying this impulsive move upwards is large bullish volume. These are the two things we want to see when looking for a flag pole. We then see the price cooling off and taking a breather while it slowly moves downwards which creates the look of the actual flag itself. We have three taps at the top of the flag and four at the bottom. We can see that the price is bouncing off of these two points of support and resistance. Accompanying this cool-off, consolidating period is low volume, which suggests that the price is just taking a breather and the bulls are getting ready for another leg up. What I would want to see to confirm an entry for this bull flag is the following. I have highlighted a yellow zone at the top of the flag pole. I want to see price impulsively break this yellow zone and close above it. I also want to see large bullish volume to accompany this impulsive move up. Then, If we see that, I want to see the price retrace back into the flag pole zone before opening up a long position targeting the middle of the daily channel. The price point around this target would be the 25500 level. This risk to reward (depending on where you place your stop loss) could be a nice 1 / 3 or 1 / 4. The price always respects the middle of a channel. This is why my target is the middle of the daily channel. But for me to enter a long position in (BTC/USD), I need all those entry requirements to be met. So let us see if we get that impulsive break, large volume, and a retrace. If we do, the vortex trader is going long on Bitcoin. As most of you know, I am a crypto investor. This means I'm a crypto bull. But with regards to trading, I only trade the setups that the charts provide. One cannot jump into a position blindly without having a set of rules and reasons for entering and exiting. If you do this, it’s the same as gambling. But if you follow your rules and only enter positions systematically, then you are following a system that has been proven to be profitable and consistent and in the long run, according to your backtesting, this will yield you positive results. On that note, I bid you all a great day. Let's go Bitcoin! The Vortex Trader.
BITSTAMP:BTCUSDLong
by TheVortexTrader
NET - Breakaway Gap (huge volume!)NET gap out of a right angle triangle with extremely huge volume. This is likely to be a "breakaway gap" which usually occurs at the beginning of a trend and the odds of this gap closing in the near future is slim. There is a near term possible resistance coming up (filling of a prior gap) at around 77-78. Any dips going forward should be opportunity to long as there is room on the upside. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NYSE:NETLong
by Juliac
EUR/USD Ascending Triangle, Waiting For A Break And RetestHi everyone, Happy first of august 2022. May you all have a successful profitable month. We are on EUR/USD today. Let's start with the daily time frame. Price has been moving steadily downwards bouncing inside of a giant channel. Every time the price has hit the bottom of the channel, it has perfectly bounced off of it and moved towards the top of the channel which then acts as resistance. When we switch to the 4-hour time frame, we can see that price has been trying to break through the current resistance line numerous times but has failed every single time. The ascending trend line is acting as support and the price is slowly starting to squeeze tighter and tighter with support and resistance getting closer and closer. I am looking for a breakout from this pattern. These types of patterns are generally called Ascending triangles. We usually look for a break out before the apex of this pattern is reached. We have two possible scenarios that I would be looking for that would be tradeable. GOING LONG – I will trigger a pending long position if we see the price break out of the ascending triangle to the upside. We need to see accompanying strong bullish volume with a bullish breakout and close above the resistance line. If we see this, then I will set up a pending order when the price retraces to the top of the resistance line and flips it to support. I will look for a possible risk to reward of 1 to 2 or 1 to 3. GOING SHORT – If the price fails to break the resistance once more and closes below the ascending trend line which is currently acting as support, then I will look for the same possible movement. I will wait for a breakout and close and then set up a pending short position with my targets being previous support around the 1,0 price point. My personal bias currently is bullish as on the four hours we do see the price moving upwards and squeezing closer towards the top of the resistance line. However, I only trade what the charts show. Remember, the goal is zero emotion and systematic trading. Let's see what this pattern does The Vortex Trader.
Long
by TheVortexTrader
EUR/USD – Stuck In A Descending ChannelHi Traders, As we are noticing a bounce in the forex market and as we are thinking the bulls might be coming back to start doing some damage control, we have to remember to zoom out to see what the real trend is. When in doubt, zoom out. On (EUR/USD), In the daily time frame, the price has been stuck in this descending channel since the end of January. Price has been making lower lows and lower highs since the beginning of 2022. Now, if you were a swing trader and managed to catch that double top at the end of January as a short entry and rode this pair down all this way, you would have made yourself 12% over a period of 100 days. That would be incredibly good and there are a lot of traders that have capitalized on these opportunities to go short that the Euro has given us this year. For those of us that have not had any short positions and have only missed every possible entry, well, never fear as the markets always have endless amounts of opportunity. If we jump into the 4-hour time frame, we can see that the bulls are showing their horns at the moment. However, back on the daily, it still looks like we are in bear territory. Now, I like to see a clear bounce off of the support and off of the resistance channel bottom and top to signify and validate a clear channel. Look how many taps we have had on the bottom and the top of the channel. Let's count them out. Four taps on the bottom. Six taps on the top. We can safely say that we are stuck in a channel. I also like to see the price respect the middle zones of the channel. Notice how the price has done so. Every time it touches the middle of the channel, it respects that area and treats it as Support and Resistance on the way down. So, it's all very well and good that we have identified a bearish trend and price stuck in this Daily descending channel. What good is it to us? Well, we have to look for opportunities right? Either to sell or to go long. Right now, there's no point in selling the channel bottom is there? Haha, on the 4-Hour we might see a pattern that we can use to go long. However, on the Daily, we are waiting for the price to close today above the line of resistance I have drawn. Perhaps upon a retracement to that line, we can carry this pair north to the channel top. Please remember that we need to see a reason to buy and by buying, please remember we will be going counter-trend. So our reason has to be solid. We can use the channel top as a target as we can see previously that when the price touched the bottom of the channel at the beginning of previous months, by the end of the month, the price had reached the top of the channel. This is by no means an accurate strategy that one should employ, I'm just pointing interesting things out. Please trade them at your own risk. However, I would just suggest rigorous amounts of back-testing first. One more interesting thing to notice – Volume. Look how it has been sloping downwards along with the channel. The lower price got, the less buying and selling there was and the less amount of power it took to push the price down. Should we be looking for a pop sometime soon? Things that make you go hmmm. On that note, I bid you all a great Tuesday and I will be seeing you all in the next one. The Vortex Trader
Long
by TheVortexTrader
RBLX - trend reversed up?RBLX fomed a mini double bottom and had been reversing up, testing the neckline at 36.4 before eventually breaking above on strong volume 2 days ago (5 July). It is now consolidating in a mini bull flag and the next breakup above 39 would increase it's odds of heading towards 50. However a reversal below 33.90 would negate this bullish momentum. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NYSE:RBLXLong
by Juliac
VET - Cup breakupCup and handle (or Cup without handle) are continuation patterns (of the prior trend). VET was in an uptrend before it went into a 3 month consolidation forming a "Cup" pattern. It finally broke above the neckline yesterday on STRONG volume (strong volume breaks tend to be more sustainable). Expecting near term target around 29.80 +/- with initial stop loss slightly breakup candle low. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NYSE:VETLong
by Juliac
Is It Time To Buy EUR/USD? Yes Or No? Hi Traders, Happy Friday! Today we are looking at a possible 4-Hour Order Block entry on EUR/USD We have seen nothing but bearish price action for the past month on most FX pairs. The DXY has been going parabolic EUR/USD is currently sitting on support that hasn’t been seen since 2016. Is this a good time to buy? I only enter positions that match my setup and this could be a possible play. Yes, it is a counter-trend which is not always advisable. This is why I would only risk a very small position on this as I wouldn’t class this as an A grade Setup. Hope you all have a fantastic weekend. See you on the next one, The Vortex Trader
Long
by TheVortexTrader
1
GOOG - leading the BB's lower?Some warnings of that things are probably not all well: 1. attempts to trade back above the 200 day Moving average had failed again (twice) 2. a previous support around 2500 that were tested several times since 24 Jan had broken down quite spectacularly last Friday on strong volume With GOOG reporting earnings after market close tomorrow (26 April), how it reacts after will be a harbinger of things to come. 1. Should GOOG report a disappointing set of results or a muted outlook, and things will likely continue south 2. Should GOOG surprise to the upside, then we could see another (strong) gap up and what it is important to see if this gap up will fizzle out fast to decide if one should stay optimistic or stay safe. Personally erring on the side of bearishness right now unless GOOG can close above 2500 for a start and eventually above the next resistence at 2639. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Cheers.
NASDAQ:GOOGShort
by Juliac
1