first tiny idea, it seems like this "reversal" won't holdTried to see if a prediction would hold, it didn't and I sold which was a good feeling. It's a total n00b idea/analysis but you have to start somewhere
Beginner
USDCHF - Wait for Retest - Trend ContinuationHi Traders!
The market is moving in a longterm Downtrend.
Let's begin the Analysis with the weekly Timeframe!
Here is it:
As you can see the market was moving in a Range (orange Box).
The extremes Levels were the Resistance at 1.02000 and the Support at 0.96000.
It even tried twice to Break out bearish before, but it failed.
After that, the market started to respect the Trendline.
After reaching the Level 0.90000 it started to consolidate then.
The reasons for the Consolidation "Triangle" and not the Consolidation "Box" are justified by two factors:
The upper bearish pressure which pushes the market lower and
The lower bullish pressure which pushes the market higher.
Both keep the market between extreme Levels.
In this case the bearish pressure is a descending Trendline and not a Level.
After this Consolidation the price broke out again in the Trend Direction.
Moving on to the Daily:
www.tradingview.com
Here you can identify a potential repititive pattern:
1. The market breaks out of an Key Area.
2. Then it falls for 181 pips.
3. It makes a Retest
4. It continues the Trend
If you take a closer look to the current Breakout, you can see that the market is getting
slower at 181 pips.
This of course means nothing for the future, but we can at least have an idea on how the market will might react to this.
So, because we want to trade in Trend Direction (remember: The Trend is your friend!) we wait for a Pullback.
The Entry Trigger is the Turning Point of the price after the Pullback.
This could be the touch of the broken Level at 0.900000.
It also could be the touch with the 50 MA.
The Target after the Touch is the Level, from which the price had broken out bullish from the Parallel Channel.
The Entry, SL and TP can only be defined when we have a concrete market situation.
We have to wait and see.
We recommend to trade the market with a bearish candlestick pattern confirmation!
Thanks and successful Trading :)!
GOLD ANALYSIS (15YO TRADER)WEEKLY- I set my timeframe to weekly so that I can set my area of support and resistance. and also to see what is the current market stage is and it is currently in its Distribution stage.
Daily- I set my Timeframe to daily so that I can start predicting what will or where will the market go. And based on my analysis the market is in its resistance and also on a downtrend. I can say that it continues and push lower.
4h- I set my timeframe to daily so that I can confirm my analysis on a daily timeframe, and it formed a descending triangle that indicates a high seller pressure. The triangle is formed just above its resistance and it might break soon.
I will put my short position after the market pushes lower and go back below its resistance. I will put my SL just a little bit higher so that I won't be stoped.
(not a Professional)
GBP/USD analysis (15yo trader)based on my analysis, the trend might go to an end because the market has reached its previous swing point (4-hour timeframe). after further observation, the market has formed an accumulation in that area(4-hour timeframe), which means that there is selling pressure and sellers are unlikely to give up. I will open my position for short after the market break its support on 4 hour chart and after it breaks its previous swing point. if it shows a strong bear candle after it breaks its swing and resistance point/area I will assume that it is a false breakout and might continue to fall. if the candle continues to fall and go back to its previous S&R I will go for short because it will continue to fall due to the high number and powerful seller. I can say that the seller is more powerful because they pushed the candle down.
AUDJPYwaiting for a move towards the resistance;
looking out for a movement back into the resistance range, a rejection at the resistance and a confirmation towards the downside
or
looking for a movement into the resistance range, a breakthrough, followed by a retest of that same level and a candle confirming the bulls
Tips for Beginners When Trading CryptoOver the years I have made many common mistakes, and so I hope that by listing what I have learned, it may help someone speed up their journey to becoming a successful cryptocurrency trader:
Don’t jump into trades without consideration. Evaluate, set buy/sell orders, and use stop losses!
Remove emotion, look to buy during periods of fear. Go against the instinct of only buying when the price is in green.
Analyse Micro & Macro trend - Look for historical support & resistance.
Close positions/set stop losses before bed - to avoid overnight surprises.
Take profits along the way at predetermined price points. (i,e 25%, 50% etc).
Calculate risk/reward ratio using measure tool.
Become familiar with the following formations as some can be deceiving (i.e look bullish but tend to break to the downside).
- Bull-flag (bullish)
- Bear-flag (bearish)
- Head and shoulders (bearish)
- Inverse head and shoulders (bullish)
- Rising wedge (bearish breakout)
- Descending wedge bullish breakout)
- Double top (bearish)
- Double bottom (bullish)
Use indicators to help with your decision making. Primarily:
MACD - this is a momentum indicator and can show signs of a trend reversal.
Moving Averages (MA) - Lines that plot the average price of an asset. (calculated in different time frames i.e 1-day moving average, 1-week moving average etc.)
Look for crosses in your indicators, often referred to as a ‘bullish cross’ or a ‘bearish cross’.
Summary: Don’t open a position if there is no position to be taken. Like poker, it’s a game of favoring a win by taking in the available data, to place a bet that is statistically in your favor. By considering all of the points above before each decision, you can maximize the number of wins you make, and reduce the amount that you lose on the turns that you do not win.
Note: I know much of this has become common knowledge to many of us, but I recently was asked for advice by a friend and I believed this to be a comprehensive list of everything he needed to know. Please feel free to add any additional advice in the comments below.
Es long . Trend reversal trade. EZ trading system. Long ES
Entry price 3553.50
Stop loss 3498
4 hour EZ system.
Rules of this system. Basic strategy. Highly profitable with clear signals. Good for beginner traders. Don’t stray from the rules and you will make money. Trade is over when you are stopped out. No profit targets used or needed. Stop loss is adjusted based on volatility of price every 4hrs . Confirmation of trade is on candle close. You can be aggressive at your own discretion by entering a trade prior to candle close. This is higher risk, but potentially more profitable. By Following stop loss rules any losses will be minimized.
Indicators:
1.5 ATR (Blue dots)
2 ATR (White dots)
2.5 ATR (red dots)
All ATR periods set at 9
Rules for long entry
1. 4h candle closes above blue dots. (Can be more aggressive based on your analysis. See above)
2. Set buy limit 1 or 2 ticks above blue dots. May also just enter at the close of 4h candle if you want to assure entry.
3. Place initial stop loss at white dots or red dots depending on risk tolerance. Do not use blue dots for initial stop as this Is presumably your entry point.
4. Every 4h period adjust SL to either red, white or blue dots. As trade moves in your favor I usually keep stop at blue or white dots. But you may adjust your stop every 4h period to the red, white, or blue dots. You can also place your stops BETWEEN any of these ATRS. You may tighten or loosen your stop in any new 4h hour period as long as you stay at any one of these 3 ATRs. Do not adjust your stop WITHIN any 4h period once it has been set. I usually place my stop a tick or 2 below whichever ATR I’m using . *** Note: adjusting your SL like this is contrary to most opinions about SL’s. However my backtesting shows no statically significant difference in profit/loss ratios over time. Just always place your stop at or between any one of these ATRs and you will be okay.
Stay in trade until you’re stopped out. However you can always end the trade early if you see the tide starting to turn. But I would usually only consider doing this in the following 2 scenarios; 1. if your P/L is at least 2 to 1. 2. If your profit is in negative territory you may exit your trade prior to being stopped out at your discretion for a small loss. Between these 2 scenarios always try to stay in the trade.
Those are the basics. I will show the rules for a short entry when my next short trade presents itself. As you can guess it is the corollary of a long trade.
I will also discuss in the future where you may want to add to a position. This is also very rules based.
Beware: different futures instruments may need different ATR bands. But the rules are otherwise the same. We will go over CL GC and NQ in future trades.
Short pullback ETHusdt Etherium is looking really bullish for the last months, and I think Etherium will hold strong untill the end of the year.
But before the uptrend continues, I think Ehterium will go in a downtrend to the 320 usdt mark before continuing the uptrend.
This can be seen directly from the RSI, which represents hidden divergence in the last highs (marked in red).
I hope you like my idea,
If you do so please give me a comment on how I can improve my idea's.
I stepped into crypto a couple of months ago and want to learn as mutch as possible.
Therefore don't follow my idea's blindly and do your own research.
Hope you guys stay health and
GOOD TRADING : )
EJ MARKUP : Zone Work-- Although its about to hit tp
I wanted to point out this notion:
--> Consistently gaining a set amount of pips versus the vigorous psychological stampede of trying to hit Jackpot every trade was a humbling lesson from my experience!
--> 10 - 30 pips can go an absolutely long way when you know how to use it.
Don't get me wrong, I want that beautiful swing trade that is going to bat my balance to an overall home run of notable increase.
Yet, I also want a good batting average where I can build the mental strength combined with the skills necessary that will take my runners through all four bases and prepare me for that home run!
The pitcher and the umpire will just be playing a game of catch once they get you to strike out.
From one beginner to another
- stay humble
- know your strategy
- know your play
- build the skill and psychological strength to bag more winners and losers with good sportsmanship
- get your runners to home plate and get some points on the board
- That home run move is coming -- it's waiting on you!
How you play is solely up to you but knowing how you playing is crucial!
--> know your strengths
--> know your weakness
--> use them to your advantage
Best wishes to all
P.S. If you have any tips, notes, or something funny to add .. Please do! I look forward to it.
- Happy Trading &%
BITCOIN TRADE IDEA [ Monthly Markup] Part 1Bitcoin Monthly Analysis reveals key zones that are useful on lower timeframes.
When looking at this analysis you will identify 3 Key Areas: [
- An Exhausted Buy Area
- An Exhausted Sell Area
- 50% areas to identify breaks within the market using Gann and Fib:
* Breaks above = Buy and take to next zone
* Breaks below = Sell and take to next zone
Partial analysis:
Bitcoin has approach the Exhausted Buy Area in red. I am looking for price to reject!
Two of the indicators used would be a super trend to and DMI to identify trend reversal and momentum at zones.
Note: This just an idea and not a professional opinion.
Respectful Feedback would be kindly appreciated.
Candle AnatomyDecided to start posting content. Going from Basics to more advanced topics, little by little.
If you're just starting to learn how to trade, here's the first thing you should know. What's a candle?
A candlestick is a type of price chart used in technical analysis that displays the high, low, open, and closing prices of a security for a specific period.
-The candle has an open and close price point in time. If the movement is upwards, then the candle will close above its open price. Consequently, if the movement is downwards, the candle will close below its open price.
-The wicks will show the highest and lowest prices in the market at that moment.
-When looking at the market structure, it's important to look at the body of the candles, not the wick.
-For identifying liquidity, it is important to look at the wicks.
*The information I am sharing is mostly for new traders.
*I am not Certified to give out any information, but I enjoy trading and enjoy sharing what I know as well.
TRADE IDEA on EURJPYWritten:10/03/20 4:47PM
EURJPY
SELL
4H Timeframe
Sell Entry: 123.188
S/L: 124.200
TP1: 123.000
TP2: 122.477
TP3: 122.100
Notes/Explanation:
On the 4H timeframe it looks like this pair is starting a downwards trend, so I entered the trade for a Sell at 123.188. When the market reopens I believe the pair will break through the last Floor/Lower Low with around 2 to 3 TPs before it retracts. Then I assume it will be re enterable during its retraction and continue a downward trend.
REQ- Long term buy REQ, 1W chart, Broke through support a long ass time ago, accumulated, then finally broke out and now we're on a retest of the S/R flip. Long play but appears to be high probability.
PPL Call - Guppy + TrendlinePPL call - Guppy has only been green for 8 days which the last time Guppy was green for a month or less was 2015. Also shooting for a bounce off of the trendline its been tapping since March crash. 27% IV so dirt cheap.
