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TWO DOUBLE TOP TRADING STRATEGIESFirst - Double Top Pattern Strategy is the traditional method double top strategy Step 1 Identify the Phase of the Market. The Double Top reversal needs an uptrend. Step 2 The historical precedent. An A++ Double Top Reversal is composed of 2 Rounded Tops (point A & B) Step 3 Sell when Double Top breakout candle closes below the neckline (point C). Step 4 Take Profit equals 2, 3 x times the distance in price as measured from the highest peak to the Neckline Step 5 Place the protective stop loss slightly above the resistance created by the Double Top reversal Second - Busted Double Top Pattern Strategy Step 1 Wait until a Double Top pattern is developing on chart Step 2 Wait for the price to break downwards and drop below point C Step 3 Price needs to consolidate below point C Step 4 Buy after we break and close above the C point *Note: The clearer the breakout is the higher the probability the busted double top pattern will work. Step 5 Place your protective Stop Loss below the trading range spotted earlier Step 6 Take profits during the first 5 – 15 minutes after we break above the double top pattern. Once Stop Orders above point C are hit high chance of bearish reversal or bullish continuation sometimes
BITFINEX:BTCUSD
by Tradingstrategyguides
2
EURUSD 1D WILLIAMS %R STRATEGYThe Williams percent R indicator or %R for short is a technical indicator that oscillates between the value 0 and -100. The Williams percent range indicator provides us with valuable information about the strength or weakness of a trend of a stock, commodity, currency pair, cryptocurrency or any other financial instrument that has attached to it a price. Basically, the Williams percent range indicator is a powerful momentum indicator that can help you day trade any market in the world. Williams percent range oscillator can be used in various capacities that can help us determine: Momentum confirmations. Overbought and Oversold readings. Strength of the trend. Potential buy and sell signals. When day trading, you need to eradicate all the uncertainty around your decision-making process. This is why we have developed the Williams percent range strategy, a rule based system that will allow you to trade from a place of personal power. The benefit of our day trading system is that it can be used with any market in the world. Strategy #2: Day trading Momentum Burst with Williams %R Indicator As an alternative to using the Williams percent R to identify overbought and oversold market readings, we have developed a way to catch momentum bursts that you will see on your charts every single day. Momentum trading can offer you instant gratification, and the Williams %R trading strategy can help you satisfy those financial urges. Let’s get into how momentum trading works using the Williams %R indicator. Step 1 Add Williams %R indicator onto your chart with a 10 period length We have also changed the oversold and overbought readings to -90 respectively -10. Note: Make sure you use 10 periods for the Williams percent range oscillator. Step 2 Draw a line at the -50 level on the Williams percent R indicator The momentum strategy is developed around the -50 level. For a visual representation, and to better and faster identify the potential trade signals, we add a line at the -50 level. The -50 level is the middle of the Williams percent range oscillator range. When the %R indicator crosses the -50 level, it signals a change in the momentum. Step 3 Buy once the Oscillator moves from oversold reading and crosses the -50 level There are two conditions that need to be satisfied before confidently buying. First, we need to see the %R oscillator in oversold territory. We consider a market oversold if it shows a reading below the -90 level. Secondly, we need to see the oscillator moving away from oversold territory and cross the -50 level from beneath. This shift in momentum indicates that we can start looking for trade opportunities in the direction the oscillator crossed the -50 level. In our case, we’re looking to buy right away once the momentum oscillator breaks above the -50 level. Step 4 For our exit strategy and stop loss management, we simply work with the trading range identified during the first step. In this regard, we place the protective stop loss below the support bottom of the range and take profit at the top resistance of the range.
Long
by Tradingstrategyguides
XRPBTC 1D ORB Nr4 Breakout StrategyStep #1: Wait until you can spot a bar that has its daily range smaller than the previous three days The first rule requires you to have the patience until the Nr4 pattern develops on the chart. When we have a daily trading range that is narrowed than the previous trading ranges it means that the price is contracting. Based on our backtesting results we have found out that there is a high probability of a trend move after you spot this type of contraction. This is kind of a general rule because the markets do move from periods of contractions to periods of expansion. This is the reason why this short-term price pattern is so powerful. Note* The 4th day doesn’t necessarily need to be an inside day, it only needs to have its daily range smaller than the previous 3 days. Step #2: Mark the High and the Low of the 4th day and switch to the 1 hour time frame Our trade is taken the next day after the Nr4 pattern showed up. In order to have a clear view of the short-term price action we need to switch our focus to the 1 hour time frame. Before you switch the time frames make sure you mark on your chart the high and the low of the 4th day. The short-term pattern Nr4 satisfies all the requirements for a valid setup Step #3: How to buy: Buy only if the breakout of the Nr4 high happens during the first 5 trading hours. We use the Opening Range Breakout technique to time the market and have an effective trade entry. The ORB is even more profitable if it occurs after inside days that have a smaller trading range than the previous 3 days. Here is another strategy called simple yet profitable strategy. Our trade doesn’t may not have an inside day, but nevertheless we want to buy only after we break above the Nr4 day high. Also, we want to make sure the breakout happens during the first five trading hours of the next day. Trades based on the ORB – Nr4 pattern will show you a profit instantly. Now, if the trade is not showing you a profit right away than your trade becomes more vulnerable. As a general rule, if after the first trading hour your trade is not in the green, you can safely close the trade at the market. Of course, you can only do that if your stop loss hasn’t been triggered in the meantime. Step #4: Place your protective Stop Loss below the Nr4 day low You can hide your protective stop loss below the Nr4 day low. Alternatively, you can also place your stop loss below the current day low as this will give you a better risk to reward ratio. The ORB - Nr4 pattern tends to precede strong trend day activity, so your stop loss should be rarely hit. Both of these patterns can be traded individually, but when combined they tend to produce even more powerful trades. Step #5: Take profit at the close of the first 1-hour bearish candle Our take profit strategy is fairly easy and it’s slightly modified from the original strategy highlighted in the “Day Trading with Short Term Price Patterns and Opening Range Breakout” book written by Toby Crabel. Even though the ORB pattern tends to lead to trend trading days we’re more conservative and want to quickly take profits. So as soon as the first bearish candle shows up we close the trade and enjoy our daytrade profits. Alternatively, you can keep the trade open until the end of the day if you want to extrapolate more profits from the cryptocurrency market. Note** the above was an example of a BUY trade using our Dogecoin cryptocurrency strategy. Use the same rules for a SELL trade – but in reverse.
by Tradingstrategyguides
Ethereum , Market Is Going to FallEthereum / U.S. Dollar BITSTAMP:ETHUSD The market frames another swing high lower than the past one. It's bad for bulls as it's only an extra flag affirming the descending development. RSI affirms the value inversion. MACD lines and histogram bolster the descending development. DMI is bullish yet ADX line falls. It educates us regarding an amendment development. In the event that the value dips under the neighborhood bolster line, the market will move lower to the help zones at MAs and the uptrend lines. The value activity in these zones will give us more subtleties, will the market proceed with the bullish pattern or we ought to be prepared for other economic situations. For affirmation of the further upward development, the cost should break the nearby downtrend line
BITSTAMP:ETHUSD
by BestFxNews
LOOK FOR CRUDE OIL TO TAKE A SLIDEAscending Triangle Trendline breakout Blue Sup/Res lines found on weekly chart On Day chart find fib lines and triangle Price consolidated sideways at Weekly S/R zone and 61.8% fib Price has curved downward Wait for price to fall to bottom Trendline There price will either bounce up once again or breakout bottom trendline Wait for a candle to close below trendline Wait for volume bars to increase Wait for ATR value to increase Choose your own entry strategy - (poss 15m/30m break-hook-go pattern) Find your own SL
NYMEX:CL1!Short
by Tradingstrategyguides
TRADING BREAKOUTS WITH KELTNER CHANNELTrading Breakouts with Keltner Channel When it comes to breakout trading, Keltner Channel is a very powerful indicator. The keltner channel breakout system works best when volatility rises. However, the Keltner indicator measures not just the volatility, but it can also show anomalies in the price behavior. Since Keltner channel indicator is lagging in nature, we can use a secondary tool like the ADX indicator to give us more confluence. These two indicators can help us catch explosive breakouts. With the ADX we measure the strength of the breakout. Generally, and ADX reading above the 20 level is considered to be the beginning of a bullish/bearish trend. Any reading below 20 signals a period of consolidation. The ADX needs to continue to rise to suggest that the trend is strong. When the Keltner Channel is used in combination with the ADX indicator, you can trade breakouts with objectivity. Trigger conditions for buying breakouts: Keltner Channel bands need to turn flat. Price need to break above the upper band. ADX needs to cross above the 20 level. Follow the above trading rules if you want to avoid most of the false breakouts.
Education
by Tradingstrategyguides
1
S&P 500 Short Setup and potential PlayoutOANDA:SPX500USD So SPX broke through BTL 1 of our Channel with a bigger 1H Bearish Candle. The SMA 100 & SMA 200 are starting to flat out but weren't crossed yet. When that move to the Downside continues, I would wait for a little Pullback on the 1H and then, in Confirmation with maybe the 4H, open a Short Position with the Target 2638.36! I did some Fib and SUP stuff in there, because Fib is pretty reliable on the 1H, so this `COULD BE` a `POSSIBLE PLAYOUT`for that Short Position. Pretty simple. Just look a little bit to the left (the past) and you will see that my Analysis could actually work. Be patient and look out for those Setups, we will see! But SHORT move coming soon for sure.
SP:SPXShort
by THE_NEPHILIM
NZDJPY 1D/1H ASCENDING TRIANGLE TRADESPrice is in an ascending triangle chart pattern There were 4 failed Bullish breakout attempts of the triangle top Price is falling to triangle bottom trendline 1H Short trade Sell Stop @ 76.20 Sell TP at bottom triangle trendline There will be a decision point at the bottom triangle trendline Long trade Price will rise up to the top triangle trendline Bullish breakout of top trendline Enter on a 15m break-hook-go chart pattern 1st Buy TP @ 77.42 2nd Buy TP @ 78.17 3rd Buy TP @ 78.68 Short trade Price will have a Bearish breakout of the bottom triangle trendline Enter on a 15m break-hook-go chart pattern 1st Sell TP @ 73.53 2nd Sell TP @ 72.04 Find your SL
by Tradingstrategyguides
GBPNZD DOWNTREND CHANNEL AND TRIANGLEFX:GBPNZD is in a downtrend channel. It had touch the upper resistance of the channel and triangle. The price could go down near the previous support, being the first take profit. If the price keep going down can be reach the 50% fibonacci extension of the trend, being as well the 88.6% ab harmonic pattern that could be formed in the future. The indicators like the RSI shows low strength going down and currency strength are both on 58 level. GBP stregth shows can be weaker than the NZD
Short
by Hectorrr