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Your Best Trading Signal Formula Revealed (Forex, Gold) If you are looking for a way to increase the accuracy of your trades, I prepared for you a simple yet powerful checklist that you can apply to validate your trades. ✔️ - The trades fit my trading plan When you are planning to open a trade, make sure that it is strictly based on your rules and your entry reasons match your trading plan. For example, imagine you found some good reasons to buy USDJPY pair, and you decide to open a long trade. However, checking your trading plan, you have an important rule there - the market should strictly lie on a key level. The current market conditions do not fit your trading plan, so you skip that trade. ✔️ - The trade is in the direction with the trend That condition is mainly addressed to the newbie traders. Trading against the trend is much more complicated and riskier than trend-following trading, for that reason, I always recommend my students sticking with the trend. Even though USDCHF formed a cute double bottom pattern after a strong bearish trend, and it is appealing to buy the oversold market, it is better to skip that trade because it is the position against the current trend. ✔️ - The trade has stop loss and target level Know in advance where will be your goal for the trade and where you will close the position in a loss. If you think that it is a good idea to buy gold now, but you have no clue how far it will go and where can be the target, do not take such a trade. You should know your tp/sl before you open the trade. ✔️ - The trade has a good risk to reward ratio Planning the trade, your potential reward should outweigh the potential risks. And of course, there are always the speculations about the optimal risk to reward ratio, however, try to have at least 1.3 R/R ratio. Planning a long trade on EURNZD with a safe stop loss being below the current support and target - the local high, you can see that you get a negative r/r ratio, meaning that the potential risk is bigger than the potential reward. Such a trade is better to skip. ✔️ - I am ok with losing this trade if the market goes against me Remember that even the best trading setups may occasionally fail. You should always be prepared for losses, and always keep in mind that 100% winning setups do not exist. If you are not ready to lose, do not even open the position then. ✔️ - There are no important news events ahead That rule is again primarily addressed to newbies because ahead and during the important news releases we have sudden volatility spikes. Planning the trade, check the economic calendar, filtering top important news. If important fundamentals are expected in the coming hours, it's better to wait until the news release first. Taking a long trade on Gold, you should check the fundamentals first. Only after you confirm, that there are no fundamentals coming soon, you can open the position. What I like about that checklist is that it is very simple, but you can use it whether you are a complete newbie or an experienced trader. Try it and let me know if it helps you to improve your trading performance. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDEducation
by VasilyTrader
9
Oasis Network / ROSEThe price of ROSE is $0.062 today with a 24hour trading volume of 110 million dollars . This represents a 16% price increase in the last 24 hours and a 70% price increase in the past 30 days Oasis is the leading privacy-enabled and scalable layer-1 blockchain network. It combines high throughput and low gas fees with secure architecture to provide a next-generation foundation for Web3 and will power DeFi, GameFi, NFTs, Metaverse, Data tokenization and Data DAOs. Rose finally manage to break 0.059 level and jumped to 0.063 and now the next targets are 0.069, 0.075 and 0.079$
Long
by moonypto
4
Avalanche / AVAX analysisThe price of AVAX is $20.7 today with a 24hour trading volume of 400 million dollars and its 95% up since last month Avalanche is a layer one blockchain that functions as a platform for decentralized applications and custom blockchain networks. It is one of Ethereum’s rivals, aiming to unseat ethereum as the most popular blockchain for smart contracts. It aims to do so by having a higher transaction output of up to 6,500 transactions per second while not compromising scalability. Avalanche’s bridge has performed over $60B in transfer recently a key factor in its rapidly growing DeFi ecosystem but now lets look at the price and chart breaking 12 resistance and down-trend was a great opportunity for scalpers to long and make some quick buck. as you see 21-22 is the next resistance and after hitting 21 we had some correction like most asset classes the market waiting for Federal Reserve's first meeting and rate decision of 2023 so be ready for some volatility in crypto. for long term Im bullish on avax avax next targets are 23, 25 and 27
by moonypto
Gitcoin | GTC The price of Gitcoin is $2.3 today with a 24hour trading volume of 13 million dollar. This represents a 12% price increase in the last 24 hours and a 60% price increase in the past 14 days Gitcoin is a platform to fund builders looking for meaningful, open source work. Project owners can publish their projects such as codebase, git repository, podcast, and various initiatives on the platform. Donors can browse a list of projects and choose what they would like to fund. The platform has funded over $19.3 million to date to up to 160,000 developers. With the launch of GTC token, Gitcoin is moving to decentralizing their platform to be managed by the community. Gitcoin was founded by Keving Owocki and Scott moore. Owocki is CEO, Moore is technical growth lead and is director of research. if we break 2.5$ the next targets are 2.9 and 3.3$ but if you long at 1.5$ its time to take some profit and have some fun
by moonypto
EURCHF - Bears are pushing the price lowerTrend Analysis: The EURCHF currency pair on the 4 hours chart has been in a downtrend since 13 December 2019 when it registered the highest price level of the period under study at 1.10317. Since then, the currency pair has been successfully forming lower bottoms and lower tops. At time of writing, the EURCHF is moving around 1.06239 below the 20-period and 40-period simple moving average respectively. This reveals the sellers’ determination to push the exchange rate of EURCHF to lower levels. Additionally, the oscillator analysis indicates negative sentiment for the EURCHF. The 14 period RSI Oscillator (Relative Strength Index) is below the 50 level - a fact that shows that the sellers are in control of the market. The 23 period Momentum Oscillator is also below the 100 mark, which illustrates bearish movement in the currency pair. When attaching the Fibonacci Retracement tool from the bottom at 1.06582 and dragging it to the top at 1.06787, three price targets may be calculated. The first target level is projected at 1.06455 (161.8%), which has been successfully reached. The second target level is estimated at 1.06250 (261.8%), which has been achieved. The third target level is forecasted at 1.05919 (423.6.8%). It remains to be seen how much lower the bears will manage to push the price of the EURCHF.
Short
by UnknownUnicorn6619879
EURJPY is set to test lower pricesTrend Analysis: The EURJPY currency pair on the 4 hours chart has been in a downtrend since 07 January 2020 when it registered the highest price level of the period under study at 122.872. Since then, the currency pair has been successfully forming lower bottoms and lower tops. At time of writing, the EURJPY is moving around 119.911 below the 20-period and 40-period simple moving average respectively. This reveals the buyers’ determination to push the exchange rate of EURJPY to lower levels. Additionally, the oscillator analysis indicates negative sentiment for the EURJPY. The 14 period RSI Oscillator (Relative Strength Index) is below the 50 level - a fact that shows that the sellers are in control of the market. The 23 period Momentum Oscillator is also below the 100 mark, which illustrates bearish movement in the currency pair. When attaching the Fibonacci Retracement tool from the bottom at 119.972 and dragging it to the top at 120.337, three price targets may be calculated. The first target level is projected at 119.746 (161.8%), which has been successfully reached. The second target level is estimated at 119.381 (261.8%). The third target level is forecasted at 118.791 (423.6.8%). It remains to be seen how much lower the bears will manage to push the price of the EURJPY.
Short
by UnknownUnicorn6619879