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BCH RSI+ analysis, not yet convincedAnalyzing the RSI's from right now they seem very similar to the shown recent times highlighted and circled, not sure whether it is a "false breakout" in the sense that it will return back to ~620 levels or if it's gone for good. I'm currently in a short position unfortunately and want to wait to see if it might return back. Only thing keeping me from cutting my losses and going long is the current lower bollinger band is quite flat and isn't getting the same incline it did on the last real breakout. if it passes USD $665+ however i will probably cut my losses and go long. if it breaks USD ~670 im expecting this to be the final wave 5 which would take us up to 750+ levels by the end of the week Overall strategy is still long as we're in a nice uptrend, and from reading other's pro analyses, expecting to be 1000+ by end of year. I know there aren't many tools used here, still a beginner and dont quite understand fib tools and such. Just some of my thoughts, hopefully you guys can add your opinions too! Thanks for reading! TLDR; doubtful whether this breakout will sustain, will go long if it reaches $665 USD and wait for 750.
B
by deniskov
3
Trade 3 Eur/Pound short closed and looking to reneter higher So in this market : the market was flat lining a bit and I wanted to start fresh for this week so I closed my trade in profit of 40 plus pips and now looking at this pair making a higher correction where I will look to sell this pair again . Points: this pair does move and with the right stop loss and supply and demand strategy along with trading psychology strategy along with money management. Talking about money management I am culprit for this by over exposure and over leverage so my goal for myself is trade on any trade 1% of my account and max trade only 5 percent of my account with a draw down of 10% of total profits earned from the previous trading week. If I blow more than 10 percent of my profits I will close out of the market and stop trading and do something fun and creative . Kris www.mymentortv.com
Short
by mymentortv
LTC/USD - 1D ChartHey Guys, I am new to trading and constructive criticism would be highly appreciated. Findings: - Bullish Penant at 1d LTCchart - It looks like the correction has stopped at the bullish red support line (being rejected quite harshly twice) - Stochastic RSI looks oversold and preparing to turn upward Overall, I have been long since $42.2 and would add more positions as it goes up. In my opinion, this rally should bvreak 48.697 first otherwise there's a chance of a double top and then we may see it drops to the main (blue) trend line.
BITFINEX:LTCUSDLong
by A639T
2
4H trend continuationFirst post, don't really know what I'm doing. Would love feed back though. Reasoning: "Trends are more likely to continue then to reverse". So i found a trend with the lowest lows hitting the bottom trend line, this is where the stop loss should be around, that could indicate a reversal or strong bear push back. The target would be close to the trend line at the top, based on historical data. Entry point would be to enter at trend like touch. Thanks for looking.
Long
by Mathew_Stevenson
EURUSD Chart Analysis and Strategy Implementation Lately I've been doing some chart analysis in the market using charts on the Daily Time-frames to identify it's trend. And slowly developing my own trading Strategy ( Semi Auto-Trading Ranging Market Strategy-SATRMS ) So I have identified that the EURUSD had been ranging for the past year or two (since 2015 till to date) So I took the highest( 1.17143 ) and lowest( 1.03402 ) points of the current market since it started ranging to create a Boundary for my trading . And then split it up into zones where I will have a high chance of it respecting my setup. I identified 2 zones where I can implement my Ranging strategy setup. Zone 1 ( 1.17143 to 1.10965 ) Orange Box Zone 2 ( 1.10965 to 1.03402 ) Yellow Box. Then I used the Fibonacci Retracement Tool to setup my Areas of Trades in each zones So then I did a short back testing with about a total of 73 trades lasting about 7 months. So within 7 months I had about 73 trades. Then I did some calculation to identify it's Win/Loss ( 33:40 ) ratio So overall the W:L Ratio is 45.20% out of the 73 trades with an average of 1.8 Risk/Reward Ratio on each trade, not that great but overall still a positive outcome. Looking to improve my Semi Auto-Trading Ranging Strategy along the way but for now it's alright taking into consideration that there is a higher risk/reward of 1.8 so a 45% W:L provides a positive outcome. But this is just for a ranging market but overall I can still implement a Trend following strategy within this Setup. And implement it into multiple Currencies if it's ranging in the longer term trends. Purpose of Strategy: To create a Trading boundary in a ranging market and setup trigger points for trades to be open(Pending Orders) within the boundaries. So it acts like a Semi Auto-Trading Strategy where you just set trigger points for trades to be opened and just re-enter the pending orders once it's triggered and the trade has been closed.(it may be fully auto-trading but I don't know how to make a Trading robot yet) Trades may last a few days or a whole week(Depends on the market) Doesn't need to be re-analysed unless the major boundaries are broken which helps us indicate a possible transition of a Bullish or Bearish trending market(depending on which boundary is broken, Support or Resistance) Reason for Daily Time-frame: I find that the daily time-frame helps me identify proper long term trends in the market that are more reliable for my trading compared to the lower time-frames. For now that's the details i can provide to help explain this strategy that I use to plot my trades. I will be sharing another post on this showing my Areas of trade executions and P:L ratios. P.S Just sharing my ideas on my trading :) I hope you enjoyed reading this post
by HillDo100
1