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November 29, 2021 AUDCHF 4 HOUR 50 MAI have been leaning towards a MA retest strategy that has been panning out pretty well these past few months. Here is a setup from a trade last week. I primarily look for candles closing at the 4 hour closes and also around the 1 hour closes around the NY session open. There are three MA's I use. The 20 MA (blue), 50 MA (red) and the 200 MA (gold). Not only does the candle have to close on the 20 or 50 MA but the moving averages must be positioned correctly. I use the 4 screen layout. The daily chart on the top left, 4 hour on the top right, 1 hour on the bottom left, and 15 min on the bottom right. This is my Moving Average Correlation Strategy In using this strategy, I review all major and minor forex pairs including indices and metals. If I see a pair closing on a moving average, I will flag it and set an alert above the high (buy) or low (short) on the timeframe where the 200 MA resides. Each week there are at least 4-6 setups. A) IF Price closes on the 4 hour 20 MA, I need price to also close on the 50 MA on the 1 hour, and the 200 MA on the 15 min. B) IF Price closes on the 4 hour 50 MA, I need price to also close on the 200 MA on the 1 hour. C) IF Price closes on the 1 hour 20 MA, I need price to close on the 15 min 50 MA, and 5 min 200 MA. D) IF Price closes on the 1 hour 50 MA, I need price to close on the 15 min 200 MA. These are the primary correlations I use to trade. I also check the daily, but I find more setups with the above for IF, THEN criteria. Remember, the moving averages must be ALSO positioned correctly. From here, I wait for a candle stick confirmation. I will either get in an engulfing candle on the 50 MA or the 200 MA. TRADE ABOVE: In the above chart, the 50 MA is above the 20 MA and price is in a downtrend. < This is how we would expect these 2 MAs to be positioned. I would not look for a short IF the 20 MA is above the 50 MA. Next is the Moving Average Correlation between timeframes. When price closed at the 50 MA on the 4 hour, price ALSO closed on the 1 hour 200 MA matching scenario (B). I traded on the 1 hour when a bearish engulfing candle formed. 10 times out of 10 a RR of 4 typically hits, I close at Daily Resistance and Daily Support levels. Does anyone else trade this way? Is this your first time seeing this? Please respond so I know I"m not the only one here. Looking for all of your feedback! @MDFX_TRADES
Short
by MichaelDForex
BTC/USD resist support long setup 4hThe bitcoin price could pump soon and bounce between the resistance and supports areas. Drawn on the chart is 1h/4h identified significant resistance and support lines. Purple boxes are strong resistance support, blue boxes are weaker resistance support. The proposed long positions have very tight stop losses, and very loose take profit, so the risk reward ratio is advantageous. The longs could be made as three individual longs, or as one single long, where profit is taken at the tree different indicated levels. If a single long is opened, the first take profit should ideally be closing the vast majority of the position. possibly up to 80%, and the next take profit should be 80% of the remaining position. A fib extension is shown from the recent low, to the current local top price, fitting somewhat well with the historic resistance and support lines.
Long
by Transparent10Xleveragetrades
BTCUSDT 4H | Bitcoin market overview: Bulls comebackHello, dear subscribers! In the previous analysis, we considered the breakdown of the important level of the OBV indicator in the bitcoin market. Since then the bulls managed to intercept the initiative and raise the value of OBV above the level of 2.15M. But the fighting for the level is still going on and the bears don't want to admit defeat. In the next few hours we might see the bears attacking the level again, will the bulls manage to hold this time? According to the MACD and RSI indicators, we can see that the up-trend is getting weaker, which might be favorable to the sellers. The support level for the buyers is $58,000. Resistance level of the last days is $61,000. A hold below one of these levels will determine the further direction of bitcoin's price movement. Subscribe to the channel and stay tuned!
by CatalystsFinance
High Time Frame Tesla. Still Holding.Now that I'm trading more actively, I am very tempted to get out of my long position in Tesla and free some capital... So I decided to draw in my lines and see what they told me. After doing so... I don't see how its possible to get out of this stock. My gut told me to sell when it had been simmering at the top supply area for so many weeks... and I did not. Bad, Eric. Now my gut is saying to stick it out, so I am looking for reasons to make my gut right. I see a nice upward channel that is being respected. Could be a dirty trick in the makings, but I think it's a good idea to make the market prove you wrong. Sure the market is a dirty trickster sometimes, but most the time it's just a lot of people trying to play by rules that no one can agree on. I think we can all see a trendline, however, so let's not make this difficult folks... Tesla has been an easy stock, I don't see why that money would go elsewhere, however, anyone can be made into a diamond handed fool. This is why I like the futures markets... being liquid is so much easier sometimes. In and out like a bandit.
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NASDAQ:TSLALong
by emehoke
158