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EUR/USD: Bearish Momentum Continues with Key Levels in FocusEUR/USD Technical Analysis Trend Analysis: - The daily chart shows a clear downtrend, with stability in the bearish volume, indicating persistent bearish momentum. - Recent price action has been moving downward, suggesting continued selling pressure. Current Outlook: The price will continue to trade in a bearish trend as long as it remains below 1.0707 and 1.0745, targeting 1.0616. The EUR/USD is expected to consolidate between 1.0616 and 1.0707 until a breakout occurs. Bearish Scenario: As long as the price trades below the pivot zone, it is expected to drop to 1.0616. A break below this level could lead to the next bearish target at 1.0505. Bullish Scenario: For an uptrend to be established, the price must reverse and stabilize above the pivot zone, targeting 1.0796 and then 1.0853. Key Levels: - Pivot Line: 1.0710 - Support Levels: 1.0620, 1.0505, 1.0400 - Resistance Levels: 1.0796, 1.0850, 1.0915 Expected Trading Range: The price is anticipated to move between the resistance at 1.0745 and the support at 1.0615. In summary, maintaining a position below 1.0707 supports a bearish outlook, with further declines likely. Conversely, breaking above the pivot zone could signal a shift to a bullish trend, targeting higher resistance levels.
Short
by SroshMayi
What is the golden rule of taking profits? For trading stocks, futures, or forex, taking profits is also part of the trading process. For investors, taking profits and adhering to it during a trade is effective. When to take profits? Where is the best position for stop loss and take profit? Which strategy is more profitable? Taking profits and stop loss is one of the most important aspects of trading. If not handled properly, it could lead to losses. In previous articles, we have discussed the rule of stop loss. This chapter will discuss the rule of taking profits. Investors are advised to follow and read this article. If it is helpful, please give it a like. Thank you. Methods of taking profits Taking profits means closing the position and securing profits when the trading goal is achieved to prevent market reversal. Taking profits can be divided into static and dynamic methods. Static taking profits means setting a target for taking profits and closing the position when the target is reached. For example, if the profit expectation is 100 points and the price has risen 100 points, the position is closed to take profits. The target for taking profits is fixed and static. Dynamic taking profits means the profit target is dynamic and is held until the price meets a dynamic standard before closing the position. For example, when holding a long position and floating profits, close the position when the market price breaks the bearish level. Traders cannot know in advance where the bearish level will appear and need to monitor the market dynamics. Next, we will discuss five methods of taking profits. Method 1: Fixed point profit taking This is the simplest method of static taking profits. After entering the position, set a fixed profit space. This profit-taking method is more suitable for intraday and short-term trading. For example, after entering an intraday trading position, set a fixed profit-taking point of 50 points. Intraday trading has a relatively obvious characteristic of fluctuating trends, and market prices tend to rebound and even fluctuate repeatedly. The profits from holding positions during market rebound may be given back, so setting a fixed profit-taking point can be more advantageous during trading. In practical trading, the number of fixed stop-loss points should be set according to the volatility of different products. For products with high volatility, set a larger number of fixed stop-loss points, and for products with low volatility, set a smaller number of fixed stop-loss points. Please note that this method should not be underestimated simply because it is simple. Whether this method is useful or not depends on the specific usage environment. Method 2: Fixed profit and loss ratio take profit. This is a commonly used static take profit method in medium and short-term trading. First, let's talk about the profit and loss ratio. The ratio of the profit space of an order to the stop loss space is the profit and loss ratio. For example, if the profit is 100 points and the stop loss is 50 points, the profit and loss ratio is 2:1. Fixed profit and loss ratio means that the take profit is set according to a fixed ratio based on the stop loss space. For example, if the stop loss of an order is 100 points, setting the take profit at 100 points results in a profit and loss ratio of 1:1. Setting the take profit at 150 points results in a profit and loss ratio of 1.5:1. Setting the take profit at 200 points results in a profit and loss ratio of 2:1, and so on. The fixed profit and loss ratio method is easy to operate and highly executable. Moreover, when the market fluctuates and the stop loss space expands, the take profit space will also expand accordingly, making it very flexible. Method 3: Take profit combined with technical indicators. This is also a static take profit method. After entering an order, the take profit is set based on technical indicators. For example, setting the take profit at the level of previous highs and lows, or at the support and resistance levels of the Bollinger Bands or important moving averages, is feasible. In addition, in practical trading, it is common to enter and exit at small time frames while looking at the support and resistance levels of larger time frames. For example, entering at the 5-minute level and setting the take profit at the support and resistance level of the 1-hour chart, or entering at the hourly level and setting the take profit at the Bollinger upper and lower bands of the daily chart, is essentially a logic of "going small and looking big". Method 4: Take profit following the trend. This is a dynamic take profit mode and a trend-based take profit strategy. After entering an order, the position is held following the trend indicator, and the position is held until a reversal signal is issued, at which point the take profit is closed. Tracking with trend lines, channel lines, and turning points in the market are all common practices in daily trading. Method 5: Combination of multiple methods, batch-wise profit taking. The above four methods are the most mainstream and commonly used methods, but each method has its pros and cons. For example, the fixed profit and loss ratio method cannot hold onto trend profits, and the trend tracking method cannot make profits in volatile markets. Therefore, some clever traders combine these methods and take profits in batches. For example, after the order is entered, when the profit and loss ratio reaches 1:1, part of the position is closed, and the remaining position is exited using the trend tracking method to achieve greater profits. In practical trading, traders can combine the above profit-taking methods in different ways, such as combining the support and resistance levels of the previous high with the fixed profit and loss ratio, or combining the support and resistance levels of the previous high with the trend tracking method. After discussing these five profit-taking methods, it is only providing traders with an idea, and the specific results of practical trading must be reviewed and analyzed in combination with their own trading systems. OANDA:XAUUSD FXOPEN:XAUUSD
TVC:GOLDEducation
by Ice_and_Fire1
5
Weekly Outlook - SMC Daily AnalysisWeekly Outlook + Daily Analysis for AUDUSD Daily Chart s3.tradingview.com After a reaction from a flip zone on the daily decisional demand we can see that more recent price action caused a daily change of character. At this point, we can start to anticipate the possibility that the higher time frame is going to turn around and continue the swing trend bearish. 4hr Chart s3.tradingview.com After a daily bos or change of character we can now expect a retracement to a daily discount level (if not a sweep if the daily high to form a failed higher high on the daily) We can see that the 4hr is clearly bullish, heading to a deeply discount range, if not to clear the daily high. 15m chart s3.tradingview.com Here is the general expectational order flow that we can look for trade setups within. We understand "what should happen" while simultaneously trading "what is happening" , in other words lets continue to trade with the 4hr and 15m trends until we get a very clear indication of market reversal.
by renegadeforex
How to analyze any market from scratch #3Hello everyone: Many of you have asked me to continue making more of these analysing from scratch video, so I have prepared another one here for you today. Not only will we refresh the previous 2 educational videos on this topic, I will go into a bit more details on the confirmation on the lower time frames with multiple examples in the chart. Recall from the previous videos I made, when we want to analyze the chart from scratch, we always start: 1. From the higher time frames (HTF) to identify the impulse/correction phases of the market conditions so we can come up with a possible bias and direction of the current price. 2. Once we have a possible direction and bias, then we go down to the lower time frames (LTF) to also identify the impulse/correction phases which will lead to your confirmation and entry. These are simple steps to follow, based on multi-time frame analysis, top down approach. Many have told me it's not hard to identify the HTF’s impulse and correction, but what can be classified as a LTF confirmation before entry? Let's take a detail look into a few examples: A LTF confirmation is when the price is developing a few more price action structures/patterns that align with your HTF direction and bias. These can be continuation/reversal corrections on the LTF; impulse phases on the LTF that go with your bias on the HTF; multiple corrections within the larger corrections (patterns within patterns)...etc. The more of these LTF price actions you can identify, the more it strengthens your analysis and forecast on the HTF. Thank you Do check out my previous educational contents on this same topic to better learn my approach to analyse any market from scratch. How to analyze any market from scratch #1 How to analyze any market from scratch #2
Education
by jojofang0901
18
Ethereum Simple Chart Analyze / 4 Hours / CoinbaseEthereum Simple Chart Analyze / 4 Hours / Coin Base Ethereum was in symmetric triangle pattern on 4 Hours Chart. However, it broke descending upper trend line on Mar 17, 2022. - 2748 Second Support & Resistance Level Ethereum is moving sideways around 2785 to 2747. This support & Resistance level is more likely to be accurate. Because it already made from May, June, Sep 2021. It was resistance on May and June, but It was support level on Sep. As following this level, if Ethereum prices keep over this price level, and break the last highest points that 2790, it will be possible to become more like green pattern. Therefore, 2805~2820 would be great prices to enter for long-position. However, it might hard to go up to Sell Wall zone at once unless Bitcoin prices increase rapidly, so it might get retest when it reached the last highest price 3040. So, it would be great to stop long-position and just watch how chart moves. It is risk to change to short position on that prices because it is hard to predict how much go down unless it touch second support again. - Descending Upper Trend Line If it breaks second support level, it is possible to move down to descending upper trend line of around 2670 to 2700. It will rebound from there, unless bitcoin move down strongly. It might be a good chance to play on short position until it get close to this line. When it rebound, it means that Ethereum doesn't want to re-enter triangle pattern and it will re-try to break second resistance level to become like red pattern. So, around 2680 ~ 2700 would be great price to enter for long-position. - 2510 First Support & Strong Buy Wall If Ethereum re-enter to triangle pattern, it will move down to first support level and move sideways to edge of triangle to become like purple pattern. Therefore, I don't suggest to play on margin trading unless it breaks descending upper trend line. Under 2500, there are strong buy wall and it will be hard to break unless Bitcoin prices move down strongly. So, it would be great place to buy for spot trading, and wait for margin trade until it breaks triangle pattern again. - 3170 Resistance Level & Strong Sell Wall If Ethereum reached 3170, Ethereum will get retest there are strong sell wall. Proof for sell wall, Aug, 21, Jan, Feb 22, we can see prices moved sideways, or get retest when Ethereum reached this price on these months. It will be hard to break this price at once. So, it would be great to stop long or sell half of long-position. made by Jung Moo Eric Han
COINBASE:ETHUSD
by Moointern