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123bottom

Has the US Dollar just Bottomed?Hey Traders so today it looks like on the charts the US Dollar could be forming a bottom. It's funny because in the last video I said crude and commodities could be bottoming. But in trading you should never get too bullish or bearish. Never look at the market from only one side because history shows markets are always changing. When we take a risk in my opinion the key is to try and find the right side of the market to be on. Well as of today I am no longer bullish on crude but I am now a US Dollar Bull because of what I have now just seen on the chart! Enjoy! Trade Well, Clifford
ICEUS:DX1!Long
by TradeTheIndex
3
Is the Crude Oil Market about to Bottom? Hey Traders here is a quick chart about how you can use your Daily Charts to spot formations in technical analysis . In my opinion the best way to trade a trend is to get in early before the big moves happen. Although we can never be 100% accurate that a new trend is developing we can use history and price action as clues. So in this chart it looks like Crude Could be trying to bottom. Regardless of fundamentals and supply and demand which of course can completely alter market forces at any given time. Why could it be a bottom? 1. There is a 123 Bottom formation that is almost complete. 2. Historical Seasonal Pattern which demand increases for the summer driving season. 3. COT Institutional Traders showing increases in long positions and decrease in short positions. The way to trade the 123 bottom is place a buy order if the market breaks above the 2 point. Place stop loss below 3 point. Good Luck to us for those that are participating. Always use risk management to calculate exactly how much can afford to lose before considering placing any trade! You never know when a big move can occur so this is the best way to try and spot a trend early before it develops. Trade Well, Clifford
NYMEX:CL1!Long
by TradeTheIndex
1 2 3 Bottom Formation What is a 1 2 3 Pattern ? We can say that it is the bottom, a correction, a re-test, and a rebound. The pattern usually occurs at the end of trends and swings, and they are an indication of a change in trend. They can also be found within a trading range, and they take place when the directional momentum of a trend is diminishing. Long Trade : The long trade is an upward reversal following the 1-2-3 pattern forming from a previous downtrend. The downtrend bottoms out at point 1, then reverses upwards to find resistance at point 2. Point 3 is at a higher horizontal level than point 1. From point 3, price reverses upwards, breaking the resistance at point 2. The long trade is actually initiated at the point where this level is broken. So all the trader needs to be doing is looking out for the 1-2-3 formation which forms prior to the trading point. Stop Loss : The horizontal line is the reference line in this case, and a stop loss placement few pips below the line (long order) or above the line (sell order) will work ok. This line is usually a strong level of support or resistance and will usually hold most of the time. Profit : The Take Profit is usually left at the discretion of the trader. However, this must be set according to sensible guidelines. For instance, a trader may decide to set the Take Profit as double or triple the stop loss. Or the the distance between Point 1 and Point 2.
COINBASE:BTCUSDLong
by Yiannis1110