Truth is price action can get quite messy sometime. What I find the most reliable is to follow the pattern on higher time frame. Look at how many it respected the support and resistance of the channels or now the triangle. Yes it can bust and it happens it does a fake but how much sucess you could have by simply go short at resistance and go long at support with a forgiven stop loss. I believe it's quite a battle right now, the Bear vs the Bull in a mostly unbalanced area. Both of them or fighting for their exit liquidity. From my Liquidation pool app, the supply zone above 110k is bigger but I feel we might visit around 85k before a going up again. Feels like a Bear Trap when we look at USDT Chart Buyers are in control.
NYSE:ELF Well, the right shoulder is almost complete. Whether or not the neckline holds depends on ER this Wednesday. ?
XRP, the digital asset powering Ripple's payment network, has been a subject of intense speculation and trading activity within the cryptocurrency market.1 Recently, a key technical indicator known as Bollinger Bands has been exhibiting a pattern that often precedes significant price movements.2 This phenomenon, known as a "tightening" or "squeeze," has caught the attention of traders and analysts, raising questions about XRP's next major price swing.3 Understanding Bollinger Bands Bollinger Bands, developed by John Bollinger, are a popular technical analysis tool used to measure price volatility and identify potential overbought or oversold conditions.4 The indicator consists of three lines plotted on a price chart:5 • Middle Band: A simple moving average (SMA) of the price, typically a 20-day SMA.6 • Upper Band: Calculated by adding a certain number of standard deviations (usually two) to the middle band.7 • Lower Band: Calculated by subtracting the same number of standard deviations from the middle band. The bands widen when the price is volatile and contract when the price is stable.8 This dynamic nature of the bands provides traders with valuable insights into the degree of price fluctuations.9 The Significance of a Tightening When the Bollinger Bands tighten, it indicates a period of low volatility.10 The price is confined within a narrow range, and the bands contract towards the middle band.11 This pattern often precedes a significant price movement, as the energy stored during the period of consolidation is released in a subsequent breakout or breakdown.12 The direction of the breakout is not predetermined by the tightening itself. The price can break out above the upper band, signaling a bullish move, or break down below the lower band, indicating a bearish move.13 Traders often look for other confirming indicators or patterns to anticipate the direction of the breakout.14 XRP's Tightening Bollinger Bands In the case of XRP, the Bollinger Bands on the daily chart have been observed to be tightening.15 This suggests that a major price move could be on the horizon. The cryptocurrency has been trading within a relatively narrow range, and the bands have been contracting, indicating decreasing volatility.16 This tightening pattern has raised speculation about the direction of XRP's next major price swing.17 While the tightening itself does not provide a definitive answer, it does suggest that a significant move is imminent.18 Traders are closely monitoring the price action for signs of a breakout or breakdown.19 XRP Price Falling: Doji Candle Points to a Rally to $5+ After Crash? Adding another layer of intrigue to XRP's price action is the recent formation of a doji candle. A doji is a candlestick pattern characterized by a small body and long upper and lower wicks.20 It indicates indecision in the market, as neither buyers nor sellers are in clear control. Doji candles are often observed at turning points in the market, signaling a potential reversal of the prevailing trend.21 In the case of XRP, the doji has formed after a period of price decline, suggesting that the selling pressure may be waning. Some analysts interpret this doji formation as a potential precursor to a rally, with some even speculating a surge to $5 or beyond. However, it's crucial to exercise caution and consider other factors before drawing definitive conclusions. Additional Factors to Consider While the tightening Bollinger Bands and the doji candle provide valuable insights, it's essential to consider other factors that could influence XRP's price action: • Market Sentiment: The overall sentiment in the cryptocurrency market can significantly impact XRP's price.22 Positive news or developments could fuel a rally, while negative news or regulatory concerns could trigger a decline. • Fundamental Developments: Ripple's ongoing legal battle with the U.S. Securities and Exchange Commission (SEC) continues to be a major factor influencing XRP's price.23 A favorable outcome could boost investor confidence, while an unfavorable outcome could have the opposite effect. • Trading Volume: Increased trading volume during a breakout or breakdown can provide further confirmation of the move's validity. Low volume breakouts can be unreliable and prone to reversals. Conclusion The tightening Bollinger Bands on XRP's daily chart suggest that a major price move is imminent.24 The formation of a doji candle adds further intrigue, hinting at a potential reversal of the recent downtrend. However, it's crucial to consider other factors, such as market sentiment, fundamental developments, and trading volume, before making any trading decisions. The cryptocurrency market is highly volatile, and prices can fluctuate significantly in short periods.25 Traders should exercise caution, conduct thorough research, and use appropriate risk management strategies. While the technical indicators provide valuable insights, they should not be the sole basis for investment decisions.
In this idea, we will demonstrate how to lock your chart position when viewing history anytime you switch from one-time interval to another.
The EUR/USD is trading in an ascending channel on the 15-min timeframe, with clear higher highs (HH) and higher lows (LL). The recent rejection near 1.0528 suggests a possible move toward channel support at 1.0397. Trading Plan Short (Sell): Entry: Near 1.0528 rejection. Target: 1.0397 (channel support). Stop Loss: Above 1.0535. Long (Buy): Entry: Around 1.0397 (support). Target: 1.0528. Stop Loss: Below 1.0385. Disclaimer: This is for educational purposes only, not financial advice. Trade responsibly.
Trend : Uptrend EW No.: Wave 1 to Wave 2. Wave B to Wave C. Note: Currently I see a correction pattern of 535 in progress to complete the Wave 2. Wait for the completion of Wave 2 in the zone before taking any action.
Hello Everyone, Here’s the latest update on the GOLD daily chart we’ve been monitoring and trading. Below is a comprehensive breakdown of the current range we’ve been tracking. Previously, we identified a significant resistance level at 2790, highlighting it as a potential reversal point. At the time, we recommended holding off on trades due to the likelihood of a reversal. We also mentioned that if EMA5 crossed and held above the ENTRY LEVEL at 2744, it would signal a buy opportunity with a target at TP1 (2807). Friday NY Session Update: After the daily chart correction, EMA5 crossed the ENTRY LEVEL at 2744, with the price reaching 2785 before pulling back due to the strong resistance level. This week began with a notable bounce on Monday, with FVG providing solid support between 2720-2740. This support could pave the way for another attempt to break above the resistance level. However, confirmation will depend on EMA5 holding above or below the ENTRY LEVEL at 2744. Key Updates: Bullish Targets: TP1: 2807 TP2: 2870 TP3: 2933 If EMA5 hold and stays above ENTRY LEVEL at 2744, the next target is 2807. If EMA5 crosses and locks above TP1 (2807), it will open the path to TP2 (2870). If EMA5 crosses and locks above TP2 (2870), it will further open the path to TP3 (2933). Bearish Targets: TP1: 2689 TP2: 2629 TP3: 2560 If EMA5 crosses and locks below 2744, it will open the path to 2689. If EMA5 crosses and locks below 2689, the next target will be 2629. If EMA5 crosses and locks below 2629, it will lead to 2560. Short-Term Strategy: We will use smaller timeframes (1H and 4H charts) to buy dips at weighted levels, aiming for clean 30-40 pips per trade. Ranging markets are ideal for this strategy, avoiding longer holds that risk being caught in volatile swings. Long-Term Bias: Our long-term outlook remains Bullish, and we view drops as opportunities to buy dips, using our predefined levels and setups on smaller timeframes. The QUANTUM Trading Mastery
MSTR over BTC. How does MSTR perform against Bitcoin for the last few months
Been waiting on this set up. Looking for price to move bearish and sweep yesterdays low before going in bullish. Just being patient and sitting on hands for now waiting for Killzones.
When the pivot line touches the price the price is moving into higher price targets according to the last few months. (gray line)