📍Types of Swing Points A swing point on your chart is simply a turning point for price in the past, either to create a considerable pullback into an established trend, or to reverse it altogether. When a turning point creates a mere pullback it can be classified as a minor swing point. When it creates the base to reverse a trend, it is classified as a major swing...
Pivots are essential in many forms of TA- including the TA i mainly use which is Action-Reaction aka pitchforks Pivots may also be termed swing highs or lows Pivots and swing highs/lows may be harder to define than one first imagines I would define a pivot or swing as follows: A focus of Price Action (PA) which becomes a reversal point This is important...
Price closed below the diagonal level. Now, wait for the retest. The retest occurred. Now, enter a market execution order. Set target to previous swing low. Set 2nd target to parallel channel level.
Bearish Hammer Candlestick (AKA Inverted Hammer) These bearish formations are simply upside down hammers, and are also known as inverted hammers. Here's what a bearish hammer candlestick is telling us: Price opened near the lows of the candle, and although buyers initially succeeded at pushing price higher, they lost the final battle when sellers tipped the...
Trading Rules 1 - Preceding Uptrend 2 - New Swing High Green Candle 3 - Lower Low Red Candle 4 - Lower High Green Candle 5 - Enter: Break of #3 Low 6 - 1st TP Take measured distance from #2 High to #3 Low 7 - You determine SL & 2nd TP
Good morning, traders. Bitcoin continues to trade sideways with no significant increase in visible supply or demand on the order books. While Bitmex has continued to show stronger supply, spot exchanges are showing stronger demand. Traders should consider both but give more credence to spot exchanges as Bitmex's swap system and 100x leverage draw to it the...
Price dropped to 50% fib retracement then reversed long. First Entry would have been after 1 candle pullback @ 8010.00. Original buy stop was 8110.00. First take profit would be swing high. Price hit swing high and broke above it. Nice to watch and learn how this pair reacts to fast drops in price.