Part 9 Technical Analysis – Price formations

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Bitcoin Price Technical Analysis for 09/13/2020

Bitcoin Price Key Highlights

  • Bitcoin price has been cruising sideways, moving between support around $4100 and resistance at $4350.
  • Price appears to be bouncing off the floor once more and could be due for a move up to the ceiling again.
  • Technical indicators are showing mixed signals while traders are waiting for more clues from market catalysts.

Bitcoin price has been moving sideways while opposing factors are in play and traders await more updates from China.

Technical Indicators Signals

The 100 SMA is below the longer-term 200 SMA so the path of least resistance is to the downside. This means that a move lower is more likely to happen than a break higher. In addition, the 200 SMA lines up with the range resistance, adding to its strength as a ceiling. The 100 SMA is around the middle of the range, possibly serving as a near-term barrier as well.

Stochastic is pulling up, though, suggesting that bullish momentum is poised to return. RSI is also heading north so bitcoin price might be able to follow suit. A break in either direction of the rectangle pattern could lead to a rally or selloff of around $250, which is the same height as the formation.

Market Factors

Easing geopolitical fears have kept a lid on bitcoin price gains as North Korea has yet to make its next move after being slapped with another round of sanctions. US President Trump had some harsh words to say once more and it’s hard to imagine that Pyongyang will take this sitting down.

Also, dollar demand has been supported so far this week, although analysts attribute this to mere short-covering after consecutive days in the red. Nonetheless, it’s hard to ignore the strong equity market rallies on talks of tax reform being backdated and implemented before the end of the year.

US PPI is up for release next and this should provide a clue on how the CPI readings might turn out on Friday. The consensus is for a rebound for both headline and core figures, possibly keeping Fed tightening expectations in play or at least a close vote among FOMC members in their next meeting.

Technical Analysis In Day Trading – An Exhaustive Index Of Terms [Updated Resource]

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Last Updated on April 6, 2020

What Is Technical Analysis?

Technical analysis uses charts & graphs to analyse patterns in market data to predict future trends.

Many traders speculating on commodities and other instruments use technical analysis when trading with CFD brokers. Here’s our exhaustive guide to technical analysis.

Index Of Technical Analysis Pages

  • Bollinger Bands – Playing the Bollinger Bands, BB breakouts, and option volatility strategies.
  • MACD – How it’s constructed, moving average crossovers, MACD histogram, & divergences.
  • Stochastics – Oversold and overbought areas, as well as interpreting stochastic price divergences.
  • Relative Strength Index – Overbought/ oversold indicator, RSI divergences.

View other 60+ technical indicators – click here

  • Candlestick Basics – If the closing price is above the opening price, then candlestick is bullish.
  • Doji – A doji formation is a sign of indecision, neither bulls nor bears can take control.
  • Bearish Engulfing – When new highs are rejected and the bears push prices below yesterday’s low.
  • Bullish Engulfing – When new lows are rejected and bulls push prices above yesterday’s high.

View other candlestick chart patterns – click here

  • Double Bottom – Breakout of upside resistance, uses support &
    resistance concepts.
  • Head & Shoulders – Prices might fall below support created by left shoulder and head.
  • Flag – Continuation pattern, breakouts above consolidation or breakouts
    below support.
  • Support & Resistance – Support is an area where historically buyers have stopped further price decreases, resistance is where sellers typically stop further price increases.

View other classic chart patterns – click here

Technical Indicators

Candlestick Patterns

Chart Patterns

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The data contained in this website isn’t real-time or necessarily accurate, meaning prices are indicative and not appropriate for trading purposes. Your capital is at risk. This website is intended as a source of information only, not financial advice. Under no circumstances should you trade commodities, select a broker or perform any other task connected with commodity trading without taking professional advice first. Commodities can fall in value as well as rise in value: substantial losses can be made commodity commodity trading or trading with CFD services.

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Reference ID: #1ac07eb0-797c-11ea-8eed-2d0e7a1756e9

Technical Analysis Course

An Introduction to Technical Analysis and How to Apply it to Trading

Welcome to our advanced technical analysis course. In this course, you’ll receive a complete education about technical analysis. This includes how to use trendlines, candlestick and chart patterns, reversal pattern and more. You’ll also learn how to trade the different candlestick, chart and harmonic patterns as part of a successful strategy.

What will you learn?

  • Introduction to support and resistance, trend lines, chart patterns, candlestick patterns, harmonic patterns and indicators
  • How to use technical analysis to set stop-loss, limit orders and take profit levels
  • Using advanced harmonic patterns to trade
  • How to apply technical analysis to Forex, Spread Betting and CFDs

Register to Watch all FREE Video Lessons Now!

Course Your Progress Your Overall Grade
Technical Analysis 0% n/a

What is Price Action?

The Important of Historic Support and Resistance

Understanding Trending and Ranging Markets

Learning to Understand Market Structure

Learning to Understand Price Dynamics

The Information Behind Candlesticks

How to Draw Levels, Trend Lines and Channels

Breakouts, Momentum and Volatility

Single Candlestick Formations

Double Candlestick Formations

Triple Candlestick Patterns

Introduction to Chart Patterns

Basic Chart Patterns: Wedges, Triangles and Pennants

Double Top/Bottom and Head and Shoulders

How to Trade Head and Shoulder Chart Patterns

How to Trade Wedges (Continuation Patterns)

How to Trade Triangles (Breakouts)

How to Trade Double Bottom and Top Reversal Patterns

How to Trade Flags (Continuation Patterns)

How to Trade Bearish and Bullish Pennants

Volume Spread Analysis

Support and Resistance: How to Find Trade Setups

Price Channels: Buy Dips and Sell Rallies

Directionality: Multiple Time-Frame Analysis

Finding and Trading Rejection Zones

Moving Averages

How to Trade with Moving Averages

Parabolic SAR and Trade Setups

Andrew’s Pitchfork and Trade Setups

Stochastic Oscillator and its Buy and Sell Signals

Bullish and Bearish Divergences: Reversal Patterns

The MACD and its Buy and Sell Signals

The RSI and its Buy and Sell Signals

Hidden Divergences: Continuation Patterns

What are Harmonic Patterns

Fibonacci Ratios and Market Cycles

The Bearish and Bullish Crab

The Bearish and Bullish Butterfly Pattern

The Bearish and Bullish Gartley

Patterns within Patterns

Using an Oscillator and Price Action to Trade

Trading Price Action (Support, Resistance and Trend Lines)

Using an Oscillator when Trading with Chart Patterns

Trading Strategy using Stochastics and 15/30 MA Crossover

Module 1 Technical Analysis 101
Unit 1 8:24 Free
Unit 2 12:38 Free
Unit 3 13:18 Free
Unit 4 7:41 Free
Unit 5 11:12 Free
Unit 6 8:49 Free
Unit 7 11:31 Free
Unit 8 7:23 Free
Module 2 Candlestick Formations
Unit 1 10:00 Free
Unit 2 5:03 Free
Unit 3 7:45 Free
Module 3 Chart Patterns
Unit 1 4:27 Free
Unit 2 5:30 Free
Unit 3 8:00 Free
Module 4 How to Trade Continuation and Reversal Patterns
Unit 1 8:29 Free
Unit 2 6:54 Free
Unit 3 6:54 Free
Unit 4 8:07 Free
Unit 5 5:59 Free
Unit 6 5:01 Free
Module 5 Chart Analysis
Unit 1
Unit 2 9:59 Free
Unit 3 7:51 Free
Unit 4 8:51 Free
Unit 5 8:27 Free
Module 6 Trending Indicators
Unit 1 6:12 Free
Unit 2 10:03 Free
Unit 3 10:03 Free
Unit 4 5:28 Free
Module 7 Oscillators
Unit 1 6:18 Free
Unit 2 6:33 Free
Unit 3 5:45 Free
Unit 4 5:47 Free
Unit 5 6:42 Free
Module 8 How to Trade Harmonic Pattersn
Unit 1 8:14 Free
Unit 2 7:14 Free
Unit 3 5:06 Free
Unit 4 7:01 Free
Unit 5 7:10 Free
Unit 6 6:12 Free
Module 9 How to Put Everything Together
Unit 1 12:16 Free
Unit 2 8:55 Free
Unit 3 6:03 Free
Unit 4 7:30 Free
Module 10 How to Apply it to Forex Trading
There are no units in this module.
Module 11 How to Apply it to Trade CFDs
There are no units in this module.
Module 12 How to Apply it to Spread Betting
There are no units in this module.

About the Advanced Technical Analysis Course (ATAC)

This trading course has it all and it´s one of the most complete technical analysis courses out there. It´s very important that you as a trader understand every single aspect of technical analysis. The reason behind this statement is because to make money out of the financial markets we need to analyze price fluctuations. To pick spots to enter we need to know where the zones of support and resistance are. If you don´t understand these basic concepts you will never be able to make money trading the markets.

This course was developed and produced by a proprietary forex & futures trader and coach with more than 6 years of experience trading the financial markets for a living. He is a self-taught trader which means that he has gone through all the vast information that you can find out there, good and bad, and was able to maneuver through all of it and apply it and integrate it into very profitable trading systems.

  • Are there any prerequisites to this course?

This course is aimed to intermediate traders that already have a grasp of what trading is and how to technically analyze the markets. So if you are just beginning your trading career we would suggest you go through our basic courses before engaging this any further.

We have developed these lessons based on the assumption that the traders that are going to take this course already have some insight on basic technical analysis. There´s no need to be a great technician because you will learn that here but some basic technical knowledge is needed.

  • Will I increase my win ratio by taking the Advanced Technical Analysis Course?

Definitely. Trading is nothing but technical analysis of price action, without it trading would be like trying to shoot an apple off someone head´s whilst blindfolded. If you are trading off your charts without analyzing them you are in fact trading blind.

This course will provide you all the tool you need to complete your trading system, manual or mechanical, and it will give you a better understanding of price fluctuations. You will learn to spot key levels where price is likely to stop to look for a momentum breakout or a bounce.

How long will it take me to see the increase in my win ratio?

Beginner traders that come from our first courses will see a great increase in their win ratio almost immediately. This is due to two things:

  • First of all the decrease in your trading frequency. Most of you would think that a decrease in your trading frequency will in fact have a negative impact on your overall win ratio; well you are wrong. Because we will teach you how to accurately read the indicators you are using and how to understand market structure you will in fact have more patience and wait for optimal trading scenarios, thus lowering your trading frequency
  • Chart patterns and confirmations. In this course you will learn how to spot and trade chart patterns which are chart formations that repeat over and over and have incredibly high accuracy. When trading chart patterns you will get confirmation out of the indicators you use and levels you drew. The more confirmation the better the setup and the higher your win ratio will be.

Based on this information it´s pretty certain that you will see and increase on your profits and overall win ratio immediately after taking this course.

  • Will this course show me actual strategies?

The main goal of this course is not handing you a bunch of strategies for you to trade blindly. What we believe in and what we want to achieve is to make you a competent trader, someone who will actually understand the charts in front of him, someone that is serious about becoming a professional trader and making serious money.

The overall goal of this course is to help you develop a trading system, your trading system, the system that you will be comfortably trading for a long time. Different traders have different styles, and that´s why we can´t just hand you an already developed system; you need to work with us and develop your own.

Here´s where the ATAC comes in handy. In this course you will learn how to apply advance techniques that will overtime become your own profitable system. You will learn how to merge chart analysis with trending indicators, how to use oscillators to pin point exhaustion zones with the help patterns, you will learn how to use Fibonacci levels to spot harmonic patterns which have a very high overall accuracy, you will learn how to become a true technician.

As you can see it´s not about having one system handed to you, it´s about learning and utilizing all of this knowledge to make money every day.

  • I trade CFDs, can I use these techniques with them or is it just for forex?

Any financial instrument that is traded in an open market can be translated into charts, which means it can be analyzed technically. CFDs are derivatives products that follow the price movement of an underlying asset, in this case stocks. So if you are trading stock CFDs you are in fact analyzing the actual price movements of the underlying stock. For example if you want to trade 10 contracts for difference of Apple you will be placing an order at the actual market price of $AAPL.

With this example we wanted to show you how wide can technical analysis go and it doesn´t matter what market you want to trade, you will need to technically analyze it if you want to make money out of it.

  • Can I use these advanced notions on any time frame?

It really doesn´t matter what time frame you are trading off, technicals are technicals. You will analyze the 5 minute chart the same way you analyze the 60 minute chart. We´re not saying that both time frames are equal; what we´re trying to say is that whatever the time frame you are analyzing, price fluctuations will always be analyzed in the same fashion.

More About Adam

Adam is an experienced financial trader who writes about Forex trading, binary options, technical analysis and more.

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